Iran unrest rattles dry fruits trade, fresh produce holds firm

Iran unrest rattles dry fruits trade, fresh produce holds firm


Indian importers of fresh fruits such as apples, cherries and kiwis are not overly concerned about any possible disruption to trade with Iran. However, the dry fruits industry is apprehensive about a potentially greater impact following US President Donald Trump’s recent threat to impose a 25 per cent duty on countries that continue trading with Iran.

“As long as it is allowed and the government does not restrict it, there is no worry. However, if there is disruption on logistics there may be issue,” said Anil Dwivedi, general secretary of Delhi-based Fresh Fruits Importers Association. He added that currently consignments are routed through Bandar Abbas port, as operations at Chabahar are reportedly curbed.

Sources said that india’s fresh fruits exports — mainly bananas — are managed by some of the same companies that import apples and kiwis, enabling them to manage payments with some barter-like arrangement with their Iranian counterparts.

In contrast, the dry fruits sector expects a sharper impact. Rajeev Pabreja, founding member of the Nuts & Dry Fruits Council (India), said the unrest and economic turmoil in Iran could significantly affect imports, particularly pistachios, dates, saffron, almonds and raisins.

“Iran is going through one of its most serious waves of internal unrest and economic instability in years, with nationwide protests, inflation, and political pressure on the government. This has already disrupted normal trade channels and financial operations,” Pabreja said.

He added that export payments are already being delayed as Iranian importers struggle with economic instability and payment remittances. “Traders may avoid risk as uncertainty leads to hesitation in committing to long-term contracts or large orders with Iranian counterparts,” said Pabreja, who is also co-chair of the MEWA India conference and exhibition, which is scheduled later this month in Delhi.

Many Indian importers are closely monitoring the situation in Iran and the US tariff threat as these developments tend to disrupt operation in ports and customs.

Amid escalating tensions and the possibility of US military intervention, the Indian government on Wednesday advised all Indian nationals in Iran to leave by available means, including commercial flights, and to avoid travel to the country. More than 10,000 Indians, including students, are estimated to be residing in Iran.

“Effective immediately, any country doing business with the Islamic Republic of Iran will pay a tariff of 25 per cent on any and all business being done with the US. This order is final and conclusive….,” Trump had posted on social media platform Truth Social on January 12. He also, on Wednesday, warned Iran of “consequences” if it continues violent actions against its own citizens. But, he added: “The message is they’ve got to show humanity. They have got a big problem, and I hope they are not going to be killing people. It would seem to me that they have been badly misbehaving, but that is not confirmed.”

Published on January 14, 2026



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Framework for secured military drones in final stages of MoD nod

Framework for secured military drones in final stages of MoD nod


The framework seeks to address vulnerabilities caused by the illegal or unmonitored use of Chinese-origin components in India’s UAVs

A comprehensive framework to secure India’s indigenous military drone ecosystem is in its final stages before becoming a binding document for the industry to comply with for checking illegal or unattended use of Chinese components in indigenous manufacturing of unmanned systems.

The framework, drafted by the Indian Army’ s Army Design Bureau (ADB) following businessline’s series of investigative stories exposing use of Chinese software elements by domestic manufacturers and passing them of as Make in India, was cleared by the Director General (Acquisition) on Tuesday, and the file has now gone to Defence Secretary RK Singh for clearance, said sources aware of the developments.

Final nod

Once Defence Secretary, who was given a presentation on the issue early last year, clears the framework file it will be sent to Defence Minister Rajnath Singh for final nod, said sources. After that, it will be made public to the stakeholders so that the drone industry conforms to the proposed new policy for secured military drones.

The framework seeks to address vulnerabilities caused by the illegal or unmonitored use of Chinese-origin components in India’s unmanned aerial vehicles (UAVs), even when marketed as “indigenous”, the newspaper had reported in September, 2025.

The framework, which seeks more than 30 tests from accredited labs to ensure only genuine indigenous drones gets manufactured in India due to security implications, has been delayed for long.

However, the framework is a modified version of OSWASP 4.0, the international security application standards for testing evidence of vulnerabilities in hardware devises.

Acquisition process

The upcoming policy will apply from the very first stages of the acquisition process — Request for Information (RFI) followed by Request for Proposal (RFP) — and will remain in force through post-contract management, sources said.

As per the proposed ADB’s cyber security framework for drones, which will be applicable for the entire tri-services, the testing will be carried out by STQC IT Services, ETDC Bangalore, Ministry of Electronics and Information Technology).

Broadly, software and code elements will be tested to ensure that the military drones are not compromised and start relaying information to entities other than the authorised users, or gets hacked. During Galwan face off with China, scores of drones from India were hacked by the PLA and later too such incidents were reported in western and norther borders.

The need to fortify drone architecture was also visible during Operation Sindoor, said sources in the industry.

Autopilot module

The assessment of drones would be done to carefully examine the autopilot module, simulator, field programmer, power interfaces, Windows workstation, and smartphone used for Ground Control Station (GCS) operations.

Manufacturers will also have to meet other features like secure update mechanisms, unique cryptographic identities, secure storage of keys, secure communications, and resistance to downgrade attacks, sources explained.

Besides that, bill of material of hardware too will be scrutinised to crosscheck sourcing to weed out procurement from inimical countries, and weakness towards electronic tampering will .

Published on January 14, 2026



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RBI ने जापान के SMBC को पूर्ण स्वामित्व वाली अनुषंगी कंपनी बनाने की ‘सैद्धांतिक’ मंजूरी दी

RBI ने जापान के SMBC को पूर्ण स्वामित्व वाली अनुषंगी कंपनी बनाने की ‘सैद्धांतिक’ मंजूरी दी


RBI allows SMBC Banking for Local Unit: भारतीय रिजर्व बैंक (RBI) ने जापान के सुमितोमो मित्सुई बैंकिंग कॉरपोरेशन (SMBC) को भारत में पूर्ण स्वामित्व वाली अनुषंगी कंपनी (Wholly Owned Subsidiary) स्थापित करने के लिए ‘सैद्धांतिक’ मंजूरी दे दी है. केंद्रीय बैंक ने बुधवार को जारी एक बयान में यह जानकारी दी.

जापान के बैंक अनुषंगी कंपनी की मंजूरी

वर्तमान में SMBC भारत में अपनी चार शाखाओं-नई दिल्ली, मुंबई, चेन्नई और बेंगलुरु के माध्यम से ब्रांच मॉडल के तहत बैंकिंग कारोबार संचालित कर रहा है. आरबीआई ने कहा कि बैंक को अपनी मौजूदा शाखाओं को परिवर्तित कर पूर्ण स्वामित्व वाली अनुषंगी कंपनी स्थापित करने की सैद्धांतिक अनुमति दी गई है.

हालांकि, आरबीआई ने यह भी स्पष्ट किया है कि SMBC को भारत में अनुषंगी कंपनी के रूप में बैंकिंग कारोबार शुरू करने के लिए अंतिम लाइसेंस तभी दिया जाएगा, जब वह सैद्धांतिक मंजूरी के तहत तय की गई सभी नियामकीय शर्तों और आवश्यकताओं को पूरी तरह पूरा कर लेगा.

यस बैंक में खरीदी थी हिस्सेदारी

गौरतलब है कि वर्ष 2025 में SMBC ने निजी क्षेत्र के यस बैंक में 24.22 प्रतिशत हिस्सेदारी खरीदी थी, जिसके बाद वह यस बैंक का सबसे बड़ा शेयरधारक बन गया. वहीं, भारतीय स्टेट बैंक (SBI) के पास अब भी यस बैंक में 10 प्रतिशत से अधिक की महत्वपूर्ण हिस्सेदारी बनी हुई है.

ये भी पढ़ें: 14 दिन में 1.4 लाख करोड़ स्वाहा! इस साल अब तक 7 प्रतिशत गिरे रिलायंस के शेयर, आगे क्या होगा?



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India’s cotton trade body sees crop output a tad higher

India’s cotton trade body sees crop output a tad higher


India’s trade body, Cotton Association of India (CAI), has raised the crop estimate for the 2025-26 season (October-September) by 2.5 per cent or 7.5 lakh bales (of 170 kg each) to 317 lakh bales on higher than estimated production in Maharashtra and Telangana. CAI has projected a year-end surplus of 122.59 lakh bales for the 2025-26 season, up 56 per cent year-on-year on record imports of 50 lakh bales during the year.

Based on the feedback from various state bodies, CAI has projected an increase of 3 lakh bales in Maharashtra, 4.5 lakh bales in Telangana, 1 lakh bales in Karnataka and 0.5 lakh bales in Tamil Nadu. Also, the trade body expects a decline of 1 lakh bales in Madhya Pradesh and 0.5 lakh bales in Odisha.

In a statement, CAI President Vinay Kotak said the consumption during the current season 2025-26 ending September is estimated at 305 lakh bales, a tad lower than 314 lakh bales a year ago. Till December end, the consumption was estimated at 76.25 lakh bales. The duty-free import window provided by the Government till December 31 last year has prompted the trade and millers to import 31 lakh bales.

Export estimate cut

CAI has cut the cotton export projections by 3 lakh bales to 15 lakh bales during the 2025-26 season from 18 lakh bales in the previous year. Till December end, about 4.5 lakh bales have been exported.

CAI sees a total supply of 427.59 lakh bales during 2025-26 against 392.59 lakh bales a year ago. Total supply this year comprises an opening stock of 60.59 lakh bales, pressing estimates of 317 lakh bales and imports of 50 lakh bales. Total surplus at the end of the 2025-26 season, ending September, is projected to be 122.59 bales, higher by around 56 per cent over 78.59 lakh bales last season. Closing stocks for the 2025-26 season is projected at 07.59 lakh bales, up 77 per cent over 60.59 lakh bales last season.

Published on January 14, 2026



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Markets slip 0.3% as IT, Realty drag; Metals shine amid global uncertainty

Markets slip 0.3% as IT, Realty drag; Metals shine amid global uncertainty


Tata Steel led the gainers on Nifty 50, surging 3.71 per cent to close at ₹189.35 from its previous close of ₹182.57
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Markets closed marginally lower on Wednesday, with benchmark indices shedding nearly 0.3 per cent as persistent foreign institutional selling, geopolitical tensions, and uncertainty over US-India trade negotiations kept investor sentiment subdued despite a late recovery attempt from intraday lows.

The BSE Sensex closed at 83,382.71, down 244.98 points or 0.29 per cent from its previous close of 83,627.69, after opening at 83,358.54. The NSE Nifty 50 settled at 25,665.60, losing 66.70 points or 0.26 per cent from its previous close of 25,732.30, having opened at 25,648.55.

“Markets traded volatile on Wednesday and ended marginally lower amid mixed cues,” said Ajit Mishra, SVP, Research, Religare Broking Ltd. “Bulls are making an effort to defend the medium-term support of the 100-day EMA around the 25,600 level on the Nifty.”

The Sensex recovered nearly 450 points from its intraday low of 83,579, aided by value buying and early optimism around India-US trade discussions, according to Gaurav Garg, Lemonn Markets Desk. The index had touched an early high of 84,258 before trimming gains.

Sectoral performance remained mixed, with metals, commodities, CPSE, energy, and oil & gas stocks attracting buying interest. However, weakness in realty, IT, FMCG, auto, and India consumption stocks capped upside momentum. Nifty IT, realty, and auto emerged as key laggards for the session.

Nifty gainers

Tata Steel led the gainers on Nifty 50, surging 3.71 per cent to close at ₹189.35 from its previous close of ₹182.57. NTPC jumped 3.28 per cent to ₹349.00 from ₹337.90, while Axis Bank gained 2.93 per cent to ₹1,299.00 from ₹1,262.00. Hindalco advanced 2.09 per cent to ₹955.90 from ₹936.30, and ONGC rose 1.72 per cent to ₹247.98 from ₹243.78.

On the downside, Asian Paints declined 2.40 per cent to ₹2,817.00 from ₹2,886.30. TCS fell 2.15 per cent to ₹3,197.80 from ₹3,268.00, while Tata Consumer Products dropped 1.72 per cent to ₹1,169.00 from ₹1,189.40. Maruti Suzuki lost 1.69 per cent to ₹16,148.00 from ₹16,426.00, and Hindustan Unilever slipped 1.65 per cent to ₹2,350.00 from ₹2,389.50.

Market breadth remained weak on the BSE, with 2,219 stocks declining against 1,960 advances, while 165 remained unchanged. Some 222 stocks hit 52-week lows compared to just 88 touching 52-week highs. Six stocks were locked in lower circuit.

The broader indices, however, outperformed benchmarks. Nifty Midcap 100 advanced 0.29 per cent to 59,770.50, while Nifty Smallcap 100 gained 0.67 per cent to 17,410.85. Nifty Next 50 rose 0.39 per cent to 68,786.90. Nifty Bank closed marginally higher at 59,580.15, up just 1.35 points.

“Uncertainty over US trade and tariff developments, along with escalating civilian unrest in Iran and rising prospects of US military intervention—potentially heightening tensions across the Middle East—continued to weigh on risk appetite,” said Ponmudi R, CEO of Enrich Money.

Derivatives data showed maximum call open interest at the 26,000 and 25,800 strikes, indicating strong resistance levels. Maximum put open interest at the 25,700 and 25,600 strikes suggested immediate support zones. The Put-Call Ratio stood at 0.64, reflecting cautious positioning.

“Nifty is likely to stay in a 25,500–26,000 range in the shortened trading week,” said Bajaj Broking Research. “A clear breakout or breakdown will decide the next direction.” Analysts noted that Monday’s low of 25,473 would act as immediate support, while the 25,950–26,050 zone remains key resistance.

Published on January 14, 2026



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Broker’s call: Patanjali Foods (Buy)

Broker’s call: Patanjali Foods (Buy)


Target: ₹700

CMP: ₹543.90

Management of Patanjali Foods (PFL) issued an upbeat outlook – overall and across operating businesses – at a recent meeting. Highlighting a clear sequential demand uptick in Q4-26 that became visible from December post-GST cuts, management called out faster consumption growth in rural markets, with urban centres also responding positively.

In edible oils (70 per cent + of sales, 40 per cent of EBITDA), while we note most of the pricing growth (taken post-import duty hike in September-2024) would now have anniversarised, PFL flagged a fresh firming-up of prices by 5-8 per cent across oils (palm & soya 5-7 per cent, sunflower 7-8 per cent) on global supply constraints (driven by the Russia-Ukraine conflict, weather concerns in South America, Indonesia land reforms).

While costs have again started looking up in edible oils, we note PFL as the no.2 player in edible oils with market leadership in palm oil, has leveraged its pricing power and brand equity in maintaining double-digit sales’ growth despite sharp pricing in the earlier cost-upcycle – among key strengths supporting our positive view.

We keep our FY26E-FY28E estimates unchanged, and build FY25-FY28E revenue/ EPS CAGR of 9/18 per cent. We maintain our BUY rating with TP of ₹700, valuing the stock at P/E of 38x (unchanged, at 20 per cent discount to FMCG peers’ FY27E average) on September-2027E EPS.

Published on January 14, 2026



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