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Former U.S. President Donald Trump has suggested that India's reduced oil purchases from Russia are due to Prime Minister Narendra Modi's desire to maintain a positive relationship with the U.S. However, Trump warned that Washington could impose higher tariffs on India if these purchases do not cease. This threat complicates ongoing negotiations for a bilateral trade agreement (BTA) between the two nations, which has already missed its fall deadline. U.S. Senator Lindsey Graham has advocated for tariffs as high as 500% on countries like India that continue to buy Russian oil. Current tariffs of 50% on Indian goods, including a 25% penalty for Russian oil purchases, have already impacted labor-intensive sectors. Experts warn that additional tariffs could devastate trade prospects and lead to a permanent loss of market presence for Indian exporters, who rely on the U.S. as a key trading partner, with bilateral trade reaching $131.84 billion in FY25. 
Published: Jan 05 2026, 10 pmeznews.inMinimum temperatures in Ambikapur, Chhattisgarh, fell to 3.3°C, marking a significant drop as the India Meteorological Department (IMD) reported widespread cold wave conditions across north-west, central, and north-east India. Over the past 24 hours, severe cold days were noted in isolated areas of Rajasthan, while cold day conditions affected Uttar Pradesh, Gangetic West Bengal, Bihar, and Jharkhand. Ground frost was recorded in Uttarakhand, and snowfall occurred in parts of Jammu-Kashmir-Ladakh, Himachal Pradesh, and Sikkim. The IMD indicated that minimum temperatures were below 0°C in several regions, with appreciable departures from normal in areas like Vidarbha and Telangana. Additionally, dense fog reduced visibility in parts of Uttar Pradesh, Rajasthan, and Punjab. Meanwhile, a depression in the south-east Bay of Bengal is expected to bring heavy rainfall and thunderstorms to Tamil Nadu and Kerala from January 8-11.
Published: Jan 07 2026, 2 pmeznews.inIn a challenging economic landscape, the Indian stock market saw declines, with the SENSEX closing at 84,802.03, down 261.31 points, and the NIFTY at 26,102.90, down 75.80 points. Commodity prices also fell, with crude oil at ₹5,070.00, gold at ₹138,320.00, and silver at ₹255,726.00. Amid these fluctuations, A Sakthivel, newly re-elected Chairman of the Apparel Export Promotion Council, emphasized the urgent need for a resolution to the US tariff issue affecting Indian exporters. He highlighted efforts to diversify markets beyond the US, including recent FTAs with the UK, New Zealand, and Oman, and called for expedited negotiations on the India-US Bilateral Trade Agreement. Sakthivel aims to shift focus towards non-cotton exports and sustainability, particularly for Tiruppur's knitwear industry, while advocating for supportive measures in the upcoming Union Budget to enhance competitiveness and investment in the sector.
Published: Jan 07 2026, 1 pmeznews.inRamnath Thakur, the Minister of State for Agriculture, praised the Coconut Development Board's farmer-centric approach during a recent visit to Thrissur, where he reviewed initiatives aimed at enhancing coconut farmers' incomes. He emphasized the importance of strengthening the Board and increasing investment in the coconut sector, particularly to support women entrepreneurs like Sumila Jayaraj, who runs a processing unit producing Virgin Coconut Oil and other products. Thakur also addressed concerns over low-cost desiccated coconut imports affecting local processors and suggested regulating these imports to protect domestic interests. He highlighted the need for coconut oil to be included in the Public Distribution System to stabilize prices. The Minister noted ongoing multi-cropping initiatives that align with the government's goal of doubling farmers' incomes through productivity and crop diversification, with the Coconut Development Board implementing productivity improvement schemes across 27,000 hectares nationwide.
Published: Jan 07 2026, 12 pmeznews.inIndia's household gold stockpile, estimated at approximately 25,000 tonnes, has become a vital macroeconomic buffer, bolstering currency stability, financial resilience, and consumption amid global uncertainties, according to IIFL Capital's Outlook 2026. The market value of this gold now approaches 80% of India's GDP, a significant increase fueled by long-term accumulation and rising gold prices. The Reserve Bank of India (RBI) has also intensified gold purchases, further cushioning the impact of rupee depreciation and enhancing the country's external balance. Notably, only a small fraction of household gold is used as collateral, indicating substantial potential for growth in gold-backed lending, which can support credit expansion without increasing systemic risk. This gold cushion serves as latent capital, enabling households to manage spending during economic downturns, thereby stabilizing demand when income growth slows.
Published: Jan 07 2026, 1 ameznews.inThe Confederation of Indian Industry (CII) has urged the government to consider significant reforms in the agricultural sector ahead of the 2026-27 Budget, including the repeal of outdated agricultural land ceiling laws. CII argues that these laws, while historically beneficial for land redistribution, now hinder farmers' income growth by restricting land ownership and leasing opportunities. The industry body advocates for a shift from reliance on minimum support prices (MSP) to market-driven pricing to promote crop diversification and sustainability. It also calls for the revision of current policies that create market distortions, such as stock limits and export bans, to enhance competitiveness. Additionally, CII recommends establishing a National Grid for market intelligence and a unified "One India Food Grid" to streamline food supply across states. Emphasizing the need for private investment in innovation and research, CII highlights the importance of a robust agricultural ecosystem to ensure food security and global competitiveness.
Published: Jan 06 2026, 9 pmeznews.inUttar Pradesh Agriculture Minister Surya Pratap Shahi has proposed that the Fertiliser Ministry set a more accessible price for urea, suggesting a rate of ₹300 per bag during the recent Rabi conference. This recommendation comes amid ongoing discussions at a day-long introspection camp led by Fertiliser Minister J P Nadda, where key issues included the improper tagging of products with subsidised fertilisers and sales above the prescribed prices. Nadda emphasized the need for collaboration between officials and the industry to address these concerns. The camp also focused on various thematic areas, including freight subsidy policies, improving soil health, and enhancing the fertiliser distribution network. While some industry officials expressed skepticism about the government's commitment to reform, Nadda highlighted the importance of farmer-friendly policies, noting that the Department of Fertilizers has successfully met farmers' needs despite challenges.
Published: Jan 06 2026, 9 pmeznews.inIndia has urged the World Trade Organization (WTO) to direct its Secretariat to bolster the efforts of the Working Group on Trade and Transfer of Technology, particularly in light of challenges faced by developing countries and least-developed countries (LDCs) in accessing advanced technologies. In a draft ministerial declaration submitted ahead of the WTO's 14th Ministerial Conference in March 2026, New Delhi emphasized the need for developed nations to expedite the transfer of environmentally sound technologies (ESTs) to enhance trade flows. The submission highlights the WTO's recognition of technology transfer as a critical component of its agreements, including the TRIPS pact, which mandates developed countries to incentivize technology sharing with LDCs. India’s proposal also calls for the Working Group's agenda to be institutionalized within the General Council to ensure ongoing engagement and progress in technology transfer discussions.
Published: Jan 06 2026, 8 pmeznews.inThe Finance Ministry has unveiled a three-year public-private partnership (PPP) project pipeline, featuring 852 projects across Central Infrastructure Ministries and States/Union Territories, with a total estimated cost exceeding ₹17 lakh crore. This initiative, announced on Tuesday, aligns with Finance Minister Nirmala Sitharaman's FY26 Budget commitment to encourage infrastructure ministries and states to develop PPP projects, supported by the India Infrastructure Project Development Fund (IIPDF). Of the 232 projects from Central Ministries, the Road Ministry leads with 108 projects valued at over ₹8.76 lakh crore, followed by the Power Ministry and Ports, Shipping & Waterways. Additionally, 620 projects from States/Union Territories are projected at around ₹3.86 lakh crore, with Andhra Pradesh contributing the most. The Ministry emphasized that this pipeline will enhance visibility for investors and stakeholders, facilitating informed planning and investment decisions in India's extensive PPP landscape, which has seen significant growth over the past decade.
Published: Jan 06 2026, 8 pmeznews.inBangladesh is contemplating imposing a duty on yarn imports, potentially around 10 to 20 percent, to protect its domestic producers, following the end of a duty exemption on raw cotton imports on December 31. This move could significantly impact the Indian yarn market, as Bangladesh is the largest buyer of Indian cotton yarn, accounting for about 30 percent of India's total yarn production. The recent cessation of the duty exemption has already led to a 5 percent increase in raw cotton prices, with current rates hovering around Rs 8,000 per quintal, still below the minimum support price of Rs 8,100. The Cotton Corporation of India (CCI) has procured over 68 lakh bales at MSP and is expected to announce prices for the 2025-26 crop soon, as market participants are eager for clarity amid rising prices and dwindling stocks.
Published: Jan 06 2026, 8 pmeznews.inUrea imports in India have surged by 120% to 7.17 million tonnes (mt) during the April-November period of the 2025-26 fiscal year, driven by increased demand and a decline in domestic production, according to the Fertiliser Association of India (FAI). National Fertilizers (NFL) recently conducted a tender to import 1.5 mt of urea, receiving the lowest bids of $424.80 per tonne for delivery at various ports in Gujarat and Andhra Pradesh. The highest bid came from Suvarnabhoomi Enterprises at $523 per tonne. This surge in imports comes amid complaints from farmers about shortages and black market activities, as the government supplies urea at a heavily subsidized rate of Rs 267 for a 45-kg bag, compared to the current market rate of Rs 38,232 per tonne. FAI's Director-General emphasized the need for a balanced approach to nutrient supply, focusing on both imports and domestic production.
Published: Jan 06 2026, 8 pm
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