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By Manu Vardhan Kannan
Published on February 2, 2026
The year 2026 began on a positive note with the signing of the Free Trade Agreement between India and the European Union, a landmark deal widely described as the “mother of all deals” due to its far-reaching benefits for both economies. The agreement aims to address contemporary global challenges while enabling deeper market integration between the world’s fourth- and second-largest economies.
With a combined market size estimated at over INR 2091.6 lakh crore (USD 24 trillion), the FTA opens significant opportunities for nearly two billion people across India and the EU. The agreement delivers unprecedented market access for over 99% of India’s exports by trade value, while carefully preserving policy space for sensitive sectors and aligning with India’s long-term developmental priorities.
India has secured preferential access to European markets across 97% of tariff lines, covering 99.5% of trade value. Of this, 70.4% of tariff lines covering 90.7% of India’s exports will see immediate duty elimination. These include key labour-intensive sectors such as textiles, leather and footwear, tea, coffee, spices, sports goods, toys, gems and jewellery, and selected marine products. An additional 20.3% of tariff lines covering 2.9% of exports will receive zero-duty access over three to five years, while 6.1% of tariff lines covering 6% of exports will benefit from reduced tariffs or tariff rate quotas.
Several labour-intensive sectors including apparel, marine products, chemicals, plastics, rubber, toys, sports goods, gems, and jewellery, together accounting for exports worth over INR 2.87 lakh crore, will gain zero-duty access into the EU. These sectors were previously subject to duties ranging from 4% to 26%, and the agreement is expected to significantly enhance their competitiveness while supporting employment generation.
The agreement also provides preferential market access for agricultural products such as tea, coffee, spices, grapes, gherkins, cucumbers, dried onion, fresh fruits and vegetables, and processed food products. This move is expected to benefit Indian farmers while also enriching hospitality offerings in Europe through greater availability of Indian food products in hotels and restaurants. At the same time, India has safeguarded sensitive sectors including dairy, cereals, poultry, soymeal, and select fruits and vegetables, maintaining a balance between export growth and domestic priorities.
Lower duties of up to 10.5% on wooden, bamboo, and handcrafted furniture are expected to boost India’s presence in the European furniture market. The agreement supports growth in high-value, design-driven segments and is likely to encourage the use of Indian furniture in experiential hospitality spaces across EU member countries.
One of the most anticipated outcomes of the agreement is the expected reduction in prices of imported European products in India. Olive oil and gourmet food products, widely used in hospitality kitchens, are expected to see significant price drops. European chocolates, snacks, wines, and whiskies are also likely to become more affordable, supporting growth in India’s restaurant, bakery, and premium dining segments.
Beyond trade and pricing, the FTA also opens doors for cultural exchange and smoother mobility. Both sides have agreed to modernise Schengen visa processes, with faster processing timelines and joint action on visa fraud, making travel more accessible.
Overall, the India–EU Free Trade Agreement is expected to act as a major trendsetter in global trade relations. By improving affordability, expanding access to quality products, and strengthening hospitality and tourism linkages, the agreement is poised to deliver long-term economic and experiential benefits for both regions.
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Published on November 13, 2026
Mangaluru International Airport has commenced work on expanding its integrated terminal to handle the growing number of air travellers. The project is expected to increase the airport's annual passenger handling capacity from 2.5 million to 5.2 million by the end of 2029, according to airport authorities.
The expansion will add 27,100 square metres of built-up area on the eastern side of the existing terminal, while the current 48,574-square-metre facility will also undergo modifications to accommodate the rising passenger traffic.
The airport handled a record 2.55 million passengers during the 2025-26 financial year, crossing its originally planned annual capacity of around two million passengers. Passenger traffic has increased by nearly 42% over the last three years, rising from 1.79 million in 2022-23. The airport authorities expect passenger numbers to grow at an annual compound rate of around 9%, crossing four million by 2030-31.
As part of the expansion, the airport will improve several passenger facilities, including check-in counters, security screening, immigration, baggage handling, and arrival and departure areas. These improvements are expected to make passenger movement smoother and improve the overall airport experience.
The development will also introduce a public viewing gallery, which visitors can access after security clearance. An open-air recreational area overlooking the airfield and the Gurupura River valley is also part of the plans.
In addition to the terminal expansion, a separate multifunctional building is proposed to accommodate more than 800 vehicles through a multi-level parking facility. The building will also include office spaces, passenger amenities, food and beverage outlets and recreational facilities. A dedicated pedestrian bridge connecting the building to the terminal will feature travelators and buggy services to make movement easier for passengers.
The airport authorities said the expansion is being taken up considering Mangaluru's growing importance as a commercial, industrial, educational and healthcare centre in the region, along with the increasing demand for air travel across coastal Karnataka.
Once completed, the upgraded infrastructure is expected to improve passenger processing, support airport operations and accommodate future travel demand. The terminal expansion is scheduled to be completed by the end of 2029.
By Hariharan U
Published on November 11, 2026
Palmonas has expanded its retail presence in Mumbai with the opening of a new store on Turner Road in Bandra West, bringing its jewellery collections closer to shoppers ahead of the festive season.
The new outlet arrives during a busy period for festive shopping, offering customers a convenient destination to explore jewellery for celebrations, family gatherings, gifting and everyday styling.
The store features Palmonas’ range of Demi-fine® jewellery, 9KT Gold jewellery and Fine Silver designs. With collections spanning different styles and occasions, shoppers can explore everyday accessories alongside pieces suited to festive dressing and special moments.
The opening reflects Palmonas’ continued focus on expanding its offline retail footprint across key urban markets. By establishing a presence in Bandra West, the brand aims to make its collections more accessible to customers who prefer exploring jewellery in a physical retail environment.
The festive season brings increased interest in occasion-ready accessories and gifting options. The new store adds another location for Mumbai shoppers to discover Palmonas’ offerings across its jewellery categories.
Brand: Palmonas
Address: Shop No. 3, Ground Floor, 36, Turner Road, Bandra West, Mumbai, Maharashtra 400050
Pune Gas has opened its 10th Experience Centre in Mangaluru, expanding its presence in Karnataka and bringing its commercial and industrial gas solutions closer to businesses across Dakshina Kannada and coastal Karnataka. The new facility is the company's second centre in the state, following its Bengaluru location.
The Pune Gas Mangaluru Experience Centre was inaugurated by D. Vedavyasa Kamath, Member of the Karnataka Legislative Assembly, Mangaluru City South, and S. Mukund Kamath, CMD, Ideal Ice Cream Pvt. Ltd.
The inauguration was attended by representatives from the oil and gas industry, including Sandeep Kumar Raina, LPG Territory Manager, BPCL, Mangaluru; Darshit Malviya, Manager – Sales, BPCL, Mangaluru; and Lakshmi M, CRM, HPCL. The centre will be locally managed by franchise partners Vindya Pai and Nithyanand Pai, with technical and leadership support from Pune Gas.
Mangaluru and the wider Dakshina Kannada region have a diverse business base spanning hospitality, restaurants, seafood and marine products, cashew and food processing, chemicals, petrochemicals, fertilisers and manufacturing.
Industrial areas such as Baikampady, Yeyyadi, Ganjimutt and Karnad contribute to the region's commercial and manufacturing activity. Businesses across these sectors depend on reliable energy systems for commercial kitchens, process heating and other operational requirements.
The region's seafood and cashew industries also have export potential. The Ministry of Commerce and Industry has identified these products under Dakshina Kannada's District Export Hub designation, while Karnataka Tourism highlights the Mangaluru–Udupi region's coastal cuisine and seafood traditions.
For businesses operating in these sectors, efficient LPG systems can help improve fuel utilisation, reduce wastage and manage operating expenses.
Speaking at the launch, Jesal Sampat, Executive Director and CEO, Pune Gas, said, “Improving energy efficiency is essential to helping businesses manage operating costs and enhance operational performance. Mangaluru and coastal Karnataka present an important opportunity for us to bring our engineering expertise closer to Dakshina Kannada's diverse and growing business community.”
He added that Pune Gas solutions were helping businesses save nearly ₹1,400 crore annually, according to the company's estimates, by addressing fuel inefficiencies. The new centre, he said, would make its technologies and technical expertise more accessible to businesses across the region.
Nithyanand Pai, Pune Gas Mangaluru Franchise Partner, highlighted the scale of commercial LPG consumption in Karnataka, estimating daily demand at approximately 850 metric tonnes, equivalent to around 44,000 commercial LPG cylinders. He said the franchise would focus on helping regional businesses optimise LPG consumption and reduce fuel wastage.
The new centre offers businesses an opportunity to explore Pune Gas's commercial and industrial gas systems through product demonstrations and technical guidance. Its portfolio includes:
Dry-Type LPG Vaporizer: The company's patented, Made-in-India technology converts liquid LPG into gas for commercial and industrial applications. System sizing is tailored to individual operational requirements.
LPGenius Smart LPG Systems: An integrated LPG solution designed to improve fuel utilisation and maintain consistent operations. It addresses issues such as cylinder freezing and sweating and works with LOT (Liquid Off-Take) 47.5 kg cylinders. Pune Gas states that the system can deliver 20–30% savings on LPG costs, depending on operating conditions.
FuelFusion: A dual-fuel system that enables compatible diesel generator sets to operate using diesel and LPG. According to the company, it can reduce diesel consumption by up to 70%, depending on system compatibility and operating conditions, while supporting lower-emission operations.
LeakCheck and Handheld Sniffer: Gas leak detection solutions designed to help identify potential leaks and support timely corrective action.
GasTrain Pressure Regulation Systems: Precision-engineered systems that regulate gas pressure according to equipment and process requirements, supporting controlled gas delivery.
Gas Parts and Consumables: Components for commercial and industrial LPG and natural gas infrastructure, supported by technical guidance.
Address: Vindhya Appliances, Shop No. FF 10, Lotus Atharva, Ashok Nagar, near Urwa Marigudi, Mangaluru – 575006.
With a history spanning more than 40 years, Pune Gas designs, develops and implements gas-based energy systems for commercial and industrial applications. The company operates across India and 20 international markets, serving sectors including manufacturing, healthcare and hospitality.
Its portfolio includes LPG and natural gas systems aimed at improving energy efficiency, reducing operational costs and supporting the adoption of cleaner energy solutions.
For more information, visit Pune Gas.
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