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Vikas Chadha has been appointed as the Global CEO of Chennai-based TVS Supply Chain Solutions, effective January 22, 2026. This announcement comes as part of a structured leadership transition plan following the retirement of current Managing Director Ravi Viswanathan, who will remain in his role during the transition to ensure continuity. Chadha, previously CEO of Dubai's Jumbo Electronics Company Ltd, was selected after a thorough succession planning process by the board and its Nomination and Remuneration Committee. R. Dinesh, Chairman of TVS SCS, emphasized the importance of this transition for long-term value creation, highlighting Chadha's extensive international experience. Viswanathan expressed his commitment to a smooth transition, while Chadha acknowledged the company's strong global platform and talented team. The leadership transition is expected to be completed during the financial year 2026-27. 
Published: Jan 14 2026, 8 pmeznews.inIndia's Agricultural and Processed Food Products Export Development Authority (Apeda) has resumed registering export contracts for non-Basmati rice to the Philippines and Senegal following the lifting of import restrictions by both countries. Apeda announced on Wednesday that it will issue Registration-Cum-Allocation Certificates (RCAC) for exports to Senegal, which recently withdrew a month-long ban on rice imports. In a related development, the Philippines' Department of Agriculture has begun processing applications for Sanitary and Phytosanitary Import Clearances (SPICs) for 500,000 tonnes of non-Basmati rice, with a deadline for shipments set for mid-February to avoid impacting local prices during the summer harvest. The Philippines has also increased its rice import duty from 15% to 20%. Apeda reported that rice exports to the Philippines and Senegal have seen fluctuations, with significant volumes recorded in recent months.
Published: Jan 14 2026, 9 pmeznews.inTop trade officials from India and the US are currently engaged in a series of virtual meetings aimed at advancing discussions on a bilateral trade agreement (BTA), with formal negotiations anticipated in the future. While no specific negotiating round is scheduled, sources indicate that talks are progressing at the chief negotiators' level. A recent conversation between US Secretary of State Marco Rubio and Indian External Affairs Minister S. Jaishankar underscored the importance of strengthening economic cooperation. The BTA talks have faced challenges, including US tariffs imposed on Indian goods and differing stances on Russia, particularly regarding oil purchases. India has significantly reduced its Russian oil imports, a move that the US is urged to acknowledge. Additionally, US demands for market access for genetically modified crops remain contentious. US Ambassador to India Sergio Gor acknowledged the complexities of negotiating with the world's largest democracy but expressed determination to reach an agreement.
Published: Jan 14 2026, 8 pmeznews.inIndian importers of fresh fruits, including apples, cherries, and kiwis, remain largely unconcerned about potential trade disruptions with Iran, despite US President Donald Trump's recent threat to impose a 25% tariff on countries trading with the Islamic Republic. Anil Dwivedi, general secretary of the Fresh Fruits Importers Association, noted that current logistics are stable, although operations at Chabahar port are limited. In contrast, the dry fruits sector, which includes imports of pistachios and almonds, is more apprehensive due to Iran's ongoing internal unrest and economic instability, which have already delayed export payments. Rajeev Pabreja from the Nuts & Dry Fruits Council highlighted that traders may hesitate to engage in long-term contracts amid uncertainty. As tensions rise, the Indian government has advised its nationals in Iran to leave, with over 10,000 Indians, including students, currently in the country.
Published: Jan 14 2026, 8 pmeznews.inIndia's Cotton Association (CAI) has increased its crop estimate for the 2025-26 season by 2.5% to 317 lakh bales, attributing the rise to better-than-expected production in Maharashtra and Telangana. The trade body anticipates a year-end surplus of 122.59 lakh bales, a significant 56% increase from the previous year, bolstered by record imports of 50 lakh bales. CAI's projections indicate a rise in production across several states, including Maharashtra and Telangana, while expecting declines in Madhya Pradesh and Odisha. Consumption for the current season is estimated at 305 lakh bales, slightly down from 314 lakh bales last year, with imports driven by a duty-free window leading to 31 lakh bales being brought in. However, CAI has reduced its export forecast by 3 lakh bales to 15 lakh bales for the season, with 4.5 lakh bales exported by December. Total supply is projected at 427.59 lakh bales, up from 392.59 lakh bales last year.
Published: Jan 14 2026, 7 pmeznews.inMaharashtra has emerged as the leader in Niti Aayog’s Export Preparedness Index (EPI) 2024 for large States, followed closely by Tamil Nadu and Gujarat. In the small States category, Uttarakhand, Jammu & Kashmir, and Nagaland secured the top three positions. The EPI, which evaluates the export capabilities of Indian States and Union Territories from FY22 to FY24, was unveiled by Niti Aayog CEO B V R Subrahmanyam. The index employs a data-driven framework assessing 70 parameters across four pillars, including export policies and infrastructure quality. Other notable large States classified as 'leaders' include Uttar Pradesh, Andhra Pradesh, and Karnataka, while Odisha and Chhattisgarh ranked lowest as 'aspirers.' Subrahmanyam emphasized the growing need for robust domestic foundations as India expands its free trade agreements, urging States to create competitive ecosystems that align with global standards.
Published: Jan 14 2026, 7 pmeznews.inThe Prime Minister’s Internship Scheme (PMIS) is facing significant challenges, as evidenced by the Ministry of Corporate Affairs' spending data, which reveals that only 4% of its budget allocation was utilized between April and November of FY26. With over ₹11,500 crore earmarked for the scheme, just ₹500 crore was spent, reflecting a concerning trend of underutilization linked to poor performance. In FY25, the ministry's budget was drastically cut from ₹2,667 crore to ₹1,078 crore due to unspent funds, primarily attributed to the internship scheme. Interest among candidates remains low, with Finance Minister Nirmala Sitharaman reporting a mere 34% acceptance rate of internship offers in the first round, and below 30% in the second. Government officials suggest that the limited financial assistance—₹5,000 monthly for interns—may deter participation, raising questions about the scheme's viability, which aims to create one crore internships over five years.
Published: Jan 14 2026, 7 pmeznews.inIn a significant move to strengthen its presence in India, Malaysia Airlines has announced a partnership with the Mumbai Indians, a prominent team in the Indian Premier League. The announcement was made during an event in Mumbai, attended by key figures including Mumbai Indians head coach Mahela Jayawardene and Malaysia Aviation Group's Group Managing Director Datuk Captain Izham Ismail. Ismail highlighted India's importance as a core growth market, citing a 12% increase in passenger numbers and a 4% rise in premium load factors in 2025. As the official airline partner, Malaysia Airlines aims to enhance engagement within the Indian market and promote Malaysia as a travel destination, leveraging its extensive network of 80 weekly flights to 10 Indian cities. The airline's initiatives, including a bonus side trip programme for international travellers, further underscore its commitment to boosting inbound tourism from India.
Published: Jan 14 2026, 6 pmeznews.inIndia's wholesale inflation rate turned positive in December, rising to 0.8% from a deflation of 0.3% in November, primarily due to a moderation in food price deflation and increased inflation in manufactured products, according to government data. The Consumer Price Index (CPI) also saw retail inflation reach a three-month high of 1.33%, up from 0.71% in November, driven by higher food prices. The Industry Ministry noted that the uptick was influenced by rising costs in manufacturing, minerals, and textiles, while deflation in food articles decreased to 0.43% in December from 4.16% in November. Economists predict that food inflation may continue to rise in January due to an unfavorable base and increasing global commodity prices, with ICRA forecasting a year-on-year WPI inflation of 1.5% for January 2026, the highest in ten months.
Published: Jan 14 2026, 6 pmeznews.inUBS precious metal experts predict a bifurcated year for precious metals, with prices expected to rise in the first half before tapering off in the latter half. Gold could reach $5,000 an ounce and silver $100 in the first half, but by the second half, prices may drop to $4,500 for gold and $75 for silver, according to strategist Joni Teves. The long-term outlook remains positive for gold, which is increasingly viewed as a core investment. Market tightness and speculation are anticipated to drive silver prices, although high prices have dampened demand from India. Exchange-traded funds (ETFs) are playing a significant role in the market, particularly in China. Teves noted that while central bank demand for gold may slow, the overall market dynamics remain complex, with potential volatility expected in silver prices throughout 2026.
Published: Jan 14 2026, 6 pm
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