eznews.in
Bikash Prasad, Group CFO of UPL, has highlighted that the recent reduction in US reciprocal tariffs is set to enhance the competitiveness of Indian agrochemical firms against their Chinese counterparts. With India's effective duty now at 18%, compared to China's 45%, UPL anticipates a positive impact in the fourth quarter and beyond, potentially widening the duty differential to 27%. In a recent earnings report, UPL posted a consolidated net profit of Rs 490 crore for the December quarter, driven by operational improvements rather than one-off gains. Prasad noted that pricing in agrochemicals remains stable, with growth primarily from volume increases. Additionally, UPL's subsidiary, Advanta Enterprises, has filed for an IPO, which will be an offer-for-sale with proceeds aimed at strengthening UPL's balance sheet. Looking ahead, Prasad expects strong performance in Q4, bolstered by deferred US sales and seasonal demand in Brazil, while maintaining full-year guidance amid geopolitical uncertainties. 
Published: Feb 03 2026, 6 pmeznews.inIndian recruiters are facing significant challenges in matching candidates to job openings, primarily due to a surge in high-volume, low-quality applications, according to recent LinkedIn data. Approximately 75% of recruiters report that hiring has become more difficult, with 53% citing an increase in AI-generated applications and 47% noting a shortage of in-demand skills. Despite hiring activity being 40% above pre-pandemic levels, nearly half of recruiters struggle to differentiate genuine applications from misleading ones, leading to a competitive job market. In response, 71% of recruiters are leveraging AI tools to identify overlooked skills, with 80% reporting improved insights into candidates. LinkedIn's APAC VP, Ruchee Anand, emphasized a shift towards evaluating demonstrated skills over traditional credentials, highlighting AI's role in streamlining the hiring process. Early adopters of LinkedIn's AI tools have reported significant time savings and improved candidate engagement, indicating a transformative impact on recruitment practices.
Published: Feb 03 2026, 7 pmeznews.inIndia's proposed Seaplane Viability Gap Funding (VGF) scheme aims to bolster the nascent commercial seaplane sector by implementing structural measures to enhance early-stage viability, according to industry sources. The framework is set to focus on subsidy design, aircraft access, and regulatory streamlining, particularly for small aircraft with seating capacities of 9 to 19. The scheme is expected to adopt a hybrid subsidy model for the first 24 months, combining fixed annuity payments with seat-based funding to ensure predictable cash flows for operators. Recognizing the high capital costs and risks associated with seaplane operations, the proposal may include limited sovereign guarantees for aircraft lessors. However, fragmented regulations remain a significant hurdle, with multiple approvals and regulatory uncertainties potentially stalling progress. Finance Minister Nirmala Sitharaman recently announced initiatives in the Union Budget aimed at enhancing regional connectivity and promoting seaplane manufacturing to support tourism and last-mile connectivity.
Published: Feb 03 2026, 7 pmeznews.inAustralia's Bureau of Meteorology (BoM) reports that the rain-bearing La Niña is weakening, with sea surface temperatures in the central tropical Pacific now within the neutral range of the El Niño–Southern Oscillation (ENSO). As of February 1, the Niño3.4 index stood at -0.75°C, indicating a potential shift towards drought-inducing El Niño conditions by June, although forecasts remain uncertain. La Niña typically brings rain to Asia and drought to the Americas, but this instance has been weak, resulting in limited rainfall in India and prolonged dry spells in the US and South America. The 30-day Southern Oscillation Index (SOI) is +10.3, above the La Niña threshold, while the Indian Ocean Dipole (IOD) index is at +0.59°C, above the positive threshold but expected to remain neutral until late autumn 2026. The Southern Annular Mode (SAM) index is also neutral, with no significant changes anticipated in the short term.
Published: Feb 03 2026, 7 pmeznews.inThe Indian leather industry has welcomed a significant reduction in US tariffs announced by President Donald Trump, alleviating months of uncertainty and financial strain. Sanjay Lulla, Managing Director of SM Lulla Industries, expressed relief, stating that buyers will now pay full prices, allowing exporters to regain competitiveness. Since August, many exporters had resorted to offering steep discounts of 15 to 40 percent to retain US clients, which account for 22 percent of India's $3 billion leather exports. A Ateequr Rahman, Managing Director of Habeeb Tanning Company, noted that the new 18 percent duty is the lowest compared to competitors like China and Vietnam, positioning India favorably in the market. Israr Ahmed of the Farida Group anticipates a surge in orders as discounts diminish, while M Abdul Wahab of KH Exports highlighted the government's support in navigating the crisis and exploring non-US markets. The industry is optimistic about a return to growth.
Published: Feb 03 2026, 7 pmeznews.inIn a recent interview, Vivek Chaturvedi, Chairman of the Central Board of Indirect Taxes & Customs, announced significant changes to the Authorised Economic Operator (AEO) scheme aimed at facilitating trade. The duty deferral period for AEO clients has been extended from 15 days to once a month, enhancing customs clearance efficiency. A new class of trusted entities will also be eligible for similar benefits, promoting a broader ecosystem of reliable clients. Additionally, a pilot Electronic Cargo Tracking System (ECTS) will be launched at Nhava Sheva to streamline export processes. In the fisheries sector, duty-free import limits for aquaculture inputs have increased, and jurisdiction for fishing activities has been expanded beyond India's territorial waters. Furthermore, the baggage rules have been revised to eliminate value caps on gold jewellery for returning residents, while a new provision allows temporary imports of costly equipment without duty, simplifying customs procedures for travelers.
Published: Feb 03 2026, 7 pmeznews.inThe Automotive Component Manufacturers Association (ACMA) of India has welcomed the proposed reduction of reciprocal tariffs to 18%, which is expected to boost the competitiveness of Indian auto components in the US market. ACMA President Vikrampati Singhania emphasized that this move enhances predictability for long-term trade and investment amid global supply chain shifts. In fiscal year 2024-25, India exported $6.2 billion in auto components to the US, with $3.1 billion already recorded in the first half of FY26. The US, in turn, exported $3.1 billion to India in FY25, dropping to $844 million in H1 FY26. Industry leaders, including Ravi Mehra of Uno Minda and Baba Kalyani of Bharat Forge, highlighted the agreement as a pivotal moment for India's economy, fostering deeper market access, advanced technology collaboration, and reinforcing India's role as a trusted partner in the global automotive supply chain.
Published: Feb 03 2026, 6 pmeznews.inAs of January 31, India's sugar stock has fallen by 11% to 74.49 lakh tonnes compared to 84.61 lakh tonnes a year earlier, despite a 17% increase in production and a 4% decrease in consumption during the current sugar season. Industry experts warn that sugar mills may need to explore alternative revenue streams, as cash flow from both sugar and ethanol is unlikely to improve. Uttar Pradesh has seen a significant reduction in sugarcane crushing, with a 3% drop in sugar output reported in January. The government has not raised the minimum selling price of sugar or increased ethanol production quotas, although sugar exports have been allowed to rise to 15 lakh tonnes. Domestic sugar production for the 2025-26 season has reached 193.05 lakh tonnes, with Maharashtra leading output increases, while Uttar Pradesh's production has declined slightly.
Published: Feb 03 2026, 6 pmeznews.inMenzies Aviation has secured a 15-year license to provide comprehensive ground handling services at Kempegowda International Airport Bengaluru, effective from April 1, 2026. The company will invest over $9.2 million to modernize its ground support equipment, enhancing operations across Terminals 1 and 2, which include passenger, ramp, and baggage services. This initiative aims to offer integrated ground and cargo services, catering to the airport's annual traffic of over 43 million passengers. Menzies plans to recruit approximately 1,000 new employees within the first three years, expanding its existing workforce of 1,700 in the cargo sector. Charles Wyley, Menzies' EVP for the Middle East, Africa, and Asia, emphasized the significance of this license in bolstering their presence in a rapidly growing aviation market. Girish Nair, COO of Bangalore International Airport Limited, welcomed Menzies as a partner, citing their extensive operational expertise.
Published: Feb 03 2026, 6 pmeznews.inThe Employees' Provident Fund Organisation (EPFO) has welcomed the Union Budget proposal for 2026-2027, which aims to rationalise the income tax framework for provident fund trusts, enhancing stakeholder interests through greater convergence and harmonisation of regulations. The budget aligns the income tax provisions governing recognised provident funds with the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, addressing existing discrepancies in eligibility for exemptions and investment patterns. Notably, the rigid ceiling on investments in government securities has been lifted, while the employer's contribution is now capped at ₹7.5 lakh per annum, with any excess taxed as perquisites. The EPFO emphasised that these changes will reduce confusion and litigation, ensuring that EPF exemptions are clearly governed by the relevant legislation. The adjustments reflect a significant step towards streamlining the regulatory framework for provident funds in India.
Published: Feb 03 2026, 5 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact