India becomes world’s largest rice producer, surpassing China
India has become the world's largest rice producer, surpassing China with a record output of about 150.18 million tonnes for the 2024‑25 season. Union Agriculture Minister Shivraj Singh Chouhan announced the milestone, noting the role of high‑yielding seed varieties and policy support in lifting production. The shift strengthens India’s position in global food markets and supports domestic food security, while contributing to rural incomes. Officials emphasise continued focus on agricultural innovation, seed dissemination and climate‑resilient farming to sustain growth and export potential in the coming years.
India becomes the top global rice producer with 150.18 million tonnes.
Announcement attributed to Union Agriculture Minister Shivraj Singh Chouhan.
Year referenced: 2024‑25 season.
Driven by high‑yield seeds and policy support.
Implications for food security and export potential.
Jan 07, 2026
IDFC First Bank launches Zero-Forex Diamond Reserve Credit Card
IDFC First Bank announced on January 6, 2026 the launch of the Zero-Forex Diamond Reserve Credit Card, expanding its premium portfolio for international travel and lifestyle spending. The card carries zero foreign exchange markup on all international transactions, helping users avoid currency conversion costs abroad. It offers reward points on travel and regular spending, with higher earn rates for hotel and flight bookings made through the bank’s platform. Travel-related covers include baggage loss, flight delays, trip cancellation, and both personal accident and air accident insurance. The launch signals the bank’s focus on affluent customers seeking global value, not just domestic benefits. In the last 48 hours, regulatory updates linked to Delhi’s banking framework were noted, including RBI as Delhi’s official banker.
Zero foreign exchange markup on international transactions
Rewards on travel and daily spending, higher on bank-booked hotels/flights
Premium product targeting international travel and lifestyle spend
Announcement date: January 6, 2026; RBI-Delhi banking update cited as latest regulatory context
GI Council Appoints S. Prakash as CEO, Health Insurance Ecosystem
The General Insurance Council (GI Council), the industry body representing non-life insurers, announced the appointment of S Prakash as Chief Executive Officer (CEO), Health Insurance Ecosystem and Strategic Partnerships, effective from January 7, 2026.
In his new role, he will work closely with insurers, hospitals, regulators and other stakeholders to support sector-wide initiatives aimed at improving transparency, efficiency and trust across the health insurance value chain.
Jan 06, 2026
ONGC enters 50-50 ethane shipping JV with Mitsui
Oil and Natural Gas Corporation (ONGC) announced a 50 percent stake in two joint ventures with Mitsui OSK Lines (MOL) to own and operate ethane carriers. The companies, Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited, will be registered in Gift City, Gandhinagar. ONGC will subscribe to 200,000 equity shares of ₹100 each in each venture. The arrangements aim to strengthen India’s ethane supply chain and enable secure, cost-effective transport of feedstock for petrochemical use. The transactions reflect ongoing energy sector reforms and increased collaboration with Japanese shipping expertise.
ONGC to hold 50% in each ethane carrier JV with MOL.
Two IFSC entities registered in Gift City, Gandhinagar.
ONGC subscribes to 200,000 equity shares of ₹100 each per JV.
Partnership aims to bolster India’s ethane shipping capacity.
MOL brings established offshore and shipping expertise.
Deal aligns with broader energy sector reform goals.
Jan 05, 2026
Andhra Pradesh tops India's investment chart in FY26
Andhra Pradesh has emerged as India's top investment destination in the first nine months of FY26, according to a Bank of Baroda report. The state captured 25.3 percent of all proposed investments, ahead of Odisha at 13.1 percent and Maharashtra at 12.8 percent, signaling a shift in industrial momentum toward eastern and southern corridors. The BoB analysis shows that 51.2 percent of India's total proposed capital investment is concentrated in Andhra Pradesh, Odisha, and Maharashtra. Nationwide investment announcements reached Rs 26.6 lakh crore in the nine-month period, up 11.5 percent year-on-year. Analysts attribute the trend to improved infrastructure, policy reforms, and sector-focused incentives driving project announcements.
AP's share of proposed investments: 25.3%
Next two states: Odisha 13.1%, Maharashtra 12.8%
51.2% of total investment concentrated in AP, Odisha, and Maharashtra
Nationwide announcements: Rs 26.6 lakh crore in nine months
YoY growth: 11.5%
Drivers: infrastructure, reforms, incentives
Jan 03, 2026
KFC Operator Sapphire Foods' Merger with Devyani International
In a significant consolidation in the food services sector, Sapphire Foods India will merge with Devyani International, one of the country's leading quick-service restaurant (QSR) operators.
Both the companies operate KFC and Pizza Hut restaurants in India. Additionally, Devyani International has Costa Coffee, Vaango, and The Food Street in its stable, while Sapphire Foods operates Taco Bell in India.
The boards of Devyani International Ltd (DIL) and Sapphire Foods India Ltd (SFIL) have approved a scheme of arrangement for the merger of SFIL with and into DIL, marking a strategic consolidation of the two companies.
+91-85588-96644
