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Onion prices dip as fresh crop flows into markets

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New Delhi, Oct 7: The outlook for onion availability has strengthened considerably with robust market arrivals and the commencement of fresh Kharif supplies, with the improving supply position already translating into a broad-based moderation in prices of the staple vegetable across mandis and major consumer markets, the Ministry of Consumer Affairs, Food & Public Distribution said on Wednesday.

The weighted average mandi price in Maharashtra has declined by nearly 13 per cent, from around Rs 4,030 per quintal on September 16 to about Rs 3,475 per quintal on October 3. The sustained moderation in mandi prices indicates that the increase in market arrivals is translating into improved supply conditions, a ministry statement said.

The easing trend is also visible across retail markets. As many as 126 cities have reported a decline of Rs 1–21 per kg in retail onion prices over the past two weeks, with moderation observed in major consuming states, it said.

Fresh Kharif onion arrivals have commenced from major producing states, including Karnataka, Andhra Pradesh, and Rajasthan, while availability from stored stocks continues to meet market demands. Arrivals from these producing regions are expected to increase further in the coming weeks, improving overall availability in the consuming markets during the upcoming festive season, the statement said.

The production outlook for the Kharif crop is encouraging. All-India Kharif onion acreage is estimated to be around 5 per cent higher than last year’s already strong level, with crop conditions remaining favourable across major producing regions. The rainfall outlook by IMD during the harvesting period also provides support to the crop, with no forecast of excessive rains in key Kharif onion regions in the coming weeks to facilitate harvesting, drying, and movement of onions and reduce the risk of moisture-related crop damage.

The government is also augmenting supplies to consuming centres through buffer stock release. As on date, the government has disposed off more than 2.0 lakh Quintals through 8 Kanda Express and 467 trucks across 123 cities and is planning to deploy additional rail rakes, enabling larger quantities of onions to reach high-consumption markets. These efforts are being further strengthened ahead of the festive season, with additional rail movements being planned to improve the speed and efficiency of supply distribution, the statement said.

The combination of fresh Kharif arrivals, availability from stored stocks and continued movement of buffer onions to consumption centres provides multiple channels of supply to the market. The government is maintaining close oversight of arrivals, stocks and price movements and is taking appropriate measures to facilitate orderly distribution and adequate availability wherever required, the statement added.

Business

PM Modi to kick off Bharat Renewable Energy Summit & Expo 2026 on Nov 2

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Prime Minister Narendra Modi will inaugurate Bharat Renewable Energy Summit & Expo (BRESE) 2026 on 2nd November, which will bring together participants from over 130 countries, including global leaders, investors, industry and innovators, at Bharat Mandapam here.

Australia, Denmark, the European Union, France, Germany, Netherlands, Norway, Sweden and the United Kingdom will participate as country partners.

Secretary, Ministry of New and Renewable Energy, Santosh Sarangi, on Wednesday said, “India’s clean energy transition is entering a decisive phase. With 308 GW of installed non-fossil fuel capacity, we are firmly on course to reach our 500 GW target by 2030. Realising this ambition will require approximately USD 220 billion in investment between 2027 and 2030, alongside accelerated deployment of energy storage, stronger transmission networks and expanded domestic manufacturing capabilities.”

He told journalists that the Bharat Renewable Energy Summit & Expo 2026 will provide a vital platform to connect global capital, technology and industry expertise with India’s growing clean energy opportunities, translating investment potential into projects, partnerships and progress.

The four-day event, themed ‘Invest. Innovate. Inspire’, will be organised alongside the 9th Session of the International Solar Alliance (ISA) Assembly and the 4th International Conference on Green Hydrogen (ICGH).

The three events will provide a common platform for discussions on renewable energy investment, international cooperation, emerging technologies and clean energy deployment.

Delegations from several countries are also expected to attend the Summit to explore cooperation opportunities in renewable energy financing, green hydrogen, energy storage, clean energy manufacturing, and technology development.

Thirteen States and Union Territories will participate in the Summit, including Andhra Pradesh, Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Uttar Pradesh and West Bengal, showcasing their renewable energy potential, investment opportunities and manufacturing capabilities. Other participating states will also highlight opportunities for renewable energy development and investment.

India ranks third globally in renewable energy and solar installed capacity and fourth in wind power capacity, as it advances towards its target of 500 GW by 2030. India invested USD 63.7 billion in its renewable energy sector during July 2024–June 2026, as per BloombergNEF.

Building on this momentum, the Summit will bring together global policymakers, investors, industry leaders and innovators to strengthen international cooperation, mobilise investment and accelerate renewable energy deployment, particularly across emerging economies and the Global South.

The four-day conference will feature high-level plenaries, ministerial discussions, CEO roundtables, and country and state sessions focused on financing, policy, technology, and skilling.

Discussions will cover clean energy investment, emerging technologies, manufacturing, energy storage, and workforce development, with an emphasis on technology exchange, scalable solutions, and greater participation and leadership by women in the global energy transition.

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Adani Enterprises’ Q2 revenue jumps 74 pc to Rs 38,023 crore; EBITDA rises 62 pc

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Adani Enterprises Limited (AEL), the flagship company of the Adani Group, on Wednesday reported a strong financial performance for the second quarter of FY27, with consolidated revenue surging 74 per cent year-on-year (YoY) to Rs 38,023 crore.

EBITDA increased 62 per cent year-on-year to Rs 6,316 crore, while continuing profit before tax (PBT) surged 146 per cent to Rs 2,002 crore, according to its stock exchange filing.

Adani Group Chairman Gautam Adani said that the company’s strong earnings growth reflected the maturity of investments made over the past several years and the ability of multiple businesses to achieve scale.

“We live in an age of such intense disruption that the scale of our ambitions must continuously grow. What Adani Enterprises has become very effective at is turning increasingly large and complex commitments into execution at scale across our businesses,” Gautam Adani stated.

“Our investments in integrated energy, airports and AI ecosystems are recent examples. Perhaps, the strongest validation of our execution capabilities is the trust domestic and global investors continue to place in us, choosing to partner with us even amid extreme volatility,” the Adani Group Chairman noted.

For the first half of FY27, consolidated revenue rose 62 per cent to Rs 71,569 crore, while EBITDA climbed 56 per cent to Rs 11,958 crore.

Continuing PBT during the six-month period grew 45 per cent to Rs 3,297 crore. AEL said earnings were supported by the rapid ramp-up of its copper business, which contributed EBITDA of Rs 2,033 crore during the first half of the financial year.

The copper plant continued to scale up production, with sales volumes increasing 5.2 times year-on-year in H1 FY27.

The company also recorded progress across its emerging businesses. Adani New Industries Limited (ANIL) expanded its solar module manufacturing capacity to 10 GW after commissioning a 4.3 GW ‘TopCon’ module line in September 2026.

In the digital infrastructure segment, ‘AdaniConnex’ secured a new hyperscale order of 240 MW for its Navi Mumbai data centre.

AEL’s financial profile also received a boost during the quarter after CARE Ratings upgraded its long-term credit rating to AA with a ‘Stable’ outlook, the highest credit rating achieved by the company in its history.

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Do not close shop of love in market of Diwali: CTI to Rahul on Nov 1 rally issue, seeks 20-minute meet with 20 traders

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The Chamber of Trade and Industry (CTI), an apex organisation representing traders and entrepreneurs in Delhi, on Wednesday wrote an open letter to the Leader of Opposition in the Lok Sabha, Rahul Gandhi, seeking a 20-minute meeting with him to discuss the Congress-led INDIA bloc’s November 1 rally at Ramlila Maidan.

In the letter, CTI Chairman Brijesh Goyal made a proposal involving 20 representatives from 20 major wholesale markets located near Ramlila Maidan, asking Rahul Gandhi to spare 20 minutes for a discussion on the potential impact of the rally on business activities in the national capital.

The CTI has proposed that if Rahul Gandhi can convince the traders during the meeting that the proposed mega rally, expected to draw one million people, would boost business and expand their customer base, the organisation would immediately withdraw its opposition and welcome the event.

However, if the traders convince Rahul Gandhi that the rally would adversely affect business in the 20 major markets surrounding Ramlila Maidan, he should postpone it until after Diwali in the public interest.

“We want dialogue, not a fight,” Goyal said.

He added that Rahul Gandhi often speaks about listening to everyone, including small traders, and that the proposed meeting would provide an opportunity to hear their concerns.

“Rahul Gandhi himself says that he listens to everyone and hears the voices of small traders. So, we, the traders from 20 markets, are asking him for 20 minutes. This would be the beauty of democracy,” Goyal said.

According to the CTI, the 20 markets fall within a radius of one to five kilometres of Ramlila Maidan and could face disruptions on the day of the rally.

The markets include Chandni Chowk, Bhagirath Palace, Khari Baoli, Sadar Bazaar, Chawri Bazaar, Kashmere Gate, Nabi Karim, Karol Bagh, Ajmeri Gate, Daryaganj, Nai Sadak, Kinari Bazaar, Dariba Kalan, Fatehpuri, Naya Bazaar, Filmistan, Paharganj, Gaffar Market, Jama Masjid-Meena Bazaar and Lajpat Rai Market.

These markets represent a wide range of businesses, including wholesale electronics, electrical goods, spices, dry fruits, garments, jewellery, books, stationery, machinery, auto parts, furniture, timber, mobile phones, crockery and grocery items.

The CTI said the rally could affect traders’ business operations due to the anticipated crowd, traffic restrictions and possible diversions in the surrounding areas.

In its letter, the organisation also referred to Rahul Gandhi’s message of promoting love and harmony, saying traders respected his efforts but were concerned about the potential impact of the rally during the festive season.

“Rahul ji, you open a shop of love in the market of hatred, we respect you, but do not close the shop of love in the market of Diwali. We are the traders who are the true face of your shop of love,” the letter stated.

The CTI expressed hope that Rahul Gandhi would accept its request for a 20-minute meeting to discuss the November 1 rally and its possible consequences for traders in Delhi’s major commercial hubs.

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