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Economy News, Latest Economic News Today | The HinduBusinessLine

GE, HAL clinch tech deal on joint jet engine plan India rejects USTR allegations, seeks termination of Section 301 probe Indian automobile sales record highest-ever sales in FY26, first time after FY19: SIAM Madhya Pradesh CM says basmati rice from the State is exported to 47 nations 63 Moons’ cybersecurity arm pilots GPS-spoofing solution at Indian airports Highways ministry notifies amendment to streamline fee for overloaded vehicles on NHs Global aviation crisis deepens as fuel shortage, Iran conflict hit airlines TRI launches agri-voltaic project to help farmers earn double income Hotel industry to hit $31 billion in 2029; listed hotel firms set to add 70k rooms by 2030: CBRE Temperatures may trend up over North-West, Central India until weekend Reduction in airport tariff credit neutral, minimal impact on revenue: Ind-Ra Global coffee prices rise as fertiliser costs and West Asia tensions threaten supply Bluspring Enterprises to acquire LSG Sky Chefs India, enters aviation catering sector China says policy to improve relations with India remains unchanged amid Arunachal naming row Research firms divided over impact of below normal monsoon on food inflation Unnat Krishi Mahotsav concludes, farmers to emerge as energy, fuel & hydrogen providers, says Gadkari Airlines may get ₹5,000 crore credit support under proposed ECLGS variant How kashmir’s breakthrough is making Gucchi mushroom farming possible Centre not taking away State’s power on bonus for agri produces, says FM Sitharaman Carriers cut flights on cost pressures, uncertain demand GE Aerospace scales AI from pilots to production; India anchors global capability West Asia crisis may push India’s current account deficit to 2% of GDP: Crisil Tax Dept to resume Tiger Global reassessment, says GAAR relief won’t alter SC ruling Ceasefire talks fail to restore vessel movement in Strait of Hormuz, fate of 599 ships remain inconclusive DMRC launches mid-life refurbishment of Blue Line trains to enhance safety and passenger experience Retail inflation likely rose 3.5-4% in March India-UK free trade pact may come into force from second week of May: Official 'West Asia war a good opportunity for energy reforms, lower costs for industry' India’s marine exports surge to ₹62,408 crore in 2024-25, Govt sets ₹1 lakh crore target PM Modi to inaugurate Dehradun-Delhi Expressway on April 14 India’s economic growth journey huge opportunity for international partners: Kwatra From diesel to daylight: How government solar schemes are powering India’s farmers The next energy leap: Replicating ethanol’s success in diesel Delhi EV Policy: Electric 3-Wheelers Only by 2027, 2-Wheelers by 2028 Windfall levy on export bound diesel, ATF raised India-flagged LPG tanker Jag Vikram crosses Strait of Hormuz after US-Iran ceasefire Muted pricing power, rising costs to curb benefits of demand in cement sector: HDFC Securities Central Railway to run four special local trains for Ambedkar Jayanti Cotton Association revises output estimates for 2025-26 up at 324 lakh bales of 170 kg each Agtech marketing in the age of regional content and creator communities Rajnath Singh, Nitin Gadkari to join 3-day agri event at Shivraj’s home turf, inaugurated today How agripreneurship will drive improved rural livelihoods in India World’s largest tur producer, yet an importer: A self-sufficiency puzzle unfolding on ground Ethanol in diesel generators: India’s next practical step towards energy security How sustainable sourcing can unlock value in India’s agri-value chains West Asia Crisis: Induction cooking may consume 13-27 GW power Govt defers power plant maintenance for three months; ready for summer demand Tractor sales cross 10 lakh mark in FY26 on strong rural demand, GST cut India to continue buying Russian crude oil India’s textile and garments exports to the US declined 28.7% in February 2026 Why India’s ₹5 pack won’t disappear, but getting smaller West Asia conflict: LPG usage at 21-month low in March E-way bill generation surged all time high of over 14 crore in March Cotton prices firm up tracking global prices Corn prices poised to fall on Iran-US ceasefire pact Air India at critical stage of transformation: Tata Sons Chairman FYL91 commences new flights to Hyderabad, Rajahmundry and Vijayawada Telangana’s GST revenue up 15% in last 3 months ASMS launches agri-commerce network AYOU in Hyderabad Ladakh turns to apricot blossoms to stretch short tourism season Govt proposes overhaul of company incorporation rules to cut paperwork, enable risk-based checks HAL delivers 4 helicopters to Coast Guard Charter services operators urge review of ATF pricing Structural gaps affect growth of India’s high-value horticulture sector: Report Rubio set to visit India in May to discuss trade, tariffs, defence, Quad DGFT rolls out procedure for allocation of calcined coke Qatar vows to remain reliable energy supplier to India amid West Asia tensions Gadkari bats for 100% land acquisition before approving NH projects India must rethink West Asia energy reliance after biggest shock in decades, says ONGC chief Sumeet SSG partners Pinnacle Industries to strengthen Maharashtra’s EMS fleet Consumer durables growth muted as demand slows, margins shrink: HDFC Securities March 2026 was the fourth-warmest month on record, says European weather agency India relaxes rice exports norms to some European countries Unseasonal rains damage rabi crops on 2.49 lakh ha, wheat most affected: Agri Minister ADB projects 6.9% growth rate for current fiscal, 70 bps lower than FY26 India-UK FTA likely by May 1; EU trade deal expected by year-end Dubai limits foreign flights until May 31, letters show, hitting Indian airlines hardest India in talks with 20 more countries to open market access: Piyush Goyal ADB ups India's FY27 growth projections to 6.9% Iran control of Strait of Hormuz in focus as tanker turns back, Trump raises concerns India mulls creating 30-day LPG strategic reserve Fire at Mumbai airport terminal delays flights Lesson from West Asia conflict is to factor-in adverse scenarios while framing policies: Oil Secretary Maharashtra government expands agricultural oversight structure Surging Raw Material Costs Hit PVC and Packaging Industries Hard Unseasonal rain, hailstorms, may drag Indian wheat output by over 5% Milky Mist beats FY26 targets, IPO on track, says CEO Delegation to visit Washington as India, US look to revive trade deal talks Only 10% of Indian key reservoirs are filled over 80% IMF warns of deepening global food crisis as fertilizer prices surge Yara India to ramp up digital strategy to strengthen retailer connectivity War-induced risks cushioned by ample buffer for India: World Bank DGS issues direct pass-through of port concessions to exporters amid West Asia crisis Israel allows import of Indian okra seeds, wants virus-free declaration India now seen as ‘safe anchor’, offers stability, predictability and prospects: Shaktikanta Das CropLife asks farmers to tap zaid season window after rabi loss and below normal monsoon ahead Indian trade delegation to visit Washington this month Construction equipment sales fall 13 per cent in FY26 on project delays, weak execution: FADA El Niño threat puts brakes on FY27 auto growth as rural demand risks rise Indian govt hikes NBS fertilizer rates for kharif season by up to 21% to ₹41,533.81 crore
Uncertainty prevails over the strength of El Nino, says Australia’s Bureau of Meteorology
2026-05-12 · via Economy News, Latest Economic News Today | The HinduBusinessLine

Uncertainty prevails over the strength of a potential drought-bearing weather event, El Nino, though models suggest it could be of at least moderate strength, Australia’s Bureau of Meteorology (BoM) has said. 

This is based on the level of warming in the central tropical Pacific. “A strong El Nino signal in the Niño3.4 region (central tropical Pacific) does not necessarily mean strong impacts…,” it said in its climate drive update on Tuesday.  

All models, including BoM’s, forecast the tropical Pacific to continue warming in the coming months, with sea surface temperatures (SSTs) likely to reach El Nino thresholds by early southern hemisphere winter starting in June. However, for El Nino to be considered established, a corresponding atmospheric response would need to be observed, said BoM.

Warmer-than-average ocean temperatures are expanding over much of the waters surrounding Australia (up to 2°C above average). This is the case in the Tasman Sea, where the forecast points to further warming through winter.

But for El Nino to be considered established, there must be a corresponding atmospheric response, it said. ENSO conditions are neutral, but climate models suggest the trend of warming in the Pacific will persist.

There has been substantial warming in the central tropic Pacific region in recent weeks, with the index warming by about 0.3 °C in the past fortnight and by 1.0 °C since early March. Significant warmth in the sub-surface suggests further warming of SSTs is likely in the coming weeks, the Australian weather organisation said.

The El Nino–Southern Oscillation (ENSO) is currently neutral, although there are signs of possible El Nino development. The latest relative Niño3.4 index value for the week ending 10 May 2026 is +0.52 °C, within the ENSO-neutral range (−0.80 to +0.80 °C). 

Past instances

In the past, El Nino events have led to either late arrival of the South-West monsoon or deficient rain, besides prolonged dry spells. However, before El Nino emerges, India could receive above-normal rainfall.

Atmospheric indicators, including trade winds, pressure and cloud patterns in the tropical Pacific, are consistent with ENSO-neutral conditions.

The Madden-Julian Oscillation is weak, but forecasts indicate it may strengthen again in late May over the Western Pacific and Western Hemisphere regions. If this happens, associated westerly wind anomalies over the western Pacific may further enhance tropical Pacific warming, said BoM.

The 30-day Southern Oscillation Index (SOI) as of 10 May 2026 is −5.9, which indicates a period of more settled weather and above-average pressure over Darwin. The 60 and 90-day SOI values are also showing neutral ENSO values, −5.4 and +3.1, respectively. Sustained values below -7 are indicative of an El Nino state.

The SOI is calculated based on the standardised anomaly of the mean sea level pressure (MSLP) difference between Tahiti (central Pacific) and Darwin (western Pacific).

IoD neutral

The Indian Ocean Dipole (IOD) is neutral at present. The IOD index is -0.04°C as of May 10, 2026. There is a large uncertainty in the forecast state of the IOD.

Most models indicate the IOD is likely to stay neutral at least into early winter (June), with a positive IOD event possible during winter-spring (September). There is a great deal of variation in the model forecasts of the timing and strength of this potential event and the potential outcomes.

The Indian Ocean Dipole is a climate phenomenon that occurs over the Indian Ocean. During a positive phase, warm waters are pushed to the western part of the Indian Ocean while cold deep waters are upwelled to the surface in the eastern Indian Ocean. The pattern reverses during the negative phase of the IOD.

The Southern Annular Mode (SAM) is almost neutral. Over the next two weeks, it is expected to stay largely neutral.

SAM is the dominant climate driver of the Southern Hemisphere, defining the north-south movement of the westerly wind belt that rings Antarctica.

Published on May 12, 2026