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    India-UK social security pact to benefit 90-95 pc of Indian professionals working in Britain
    Gold imports drop 70 pc to 30 tonnes after duty hike: Official
    India and the United Kingdom Unleash a Next Generation Economic Corridor: Comprehensive Economic and Trade Agreement (CETA) and Agreement on Social Se...
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    India's exports hit record USD 863 billion in FY 26 amid West Asia turmoil and US tariffs: Official
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    Iran war is a 'wake-up call' for Southeast Asia's energy sector, report says
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June 18, 2026
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Social security exemption for temporary India-UK assignees will cut duplicate contributions and support skilled worker mobility.
The India-UK Double Contribution Convention will exempt employees temporarily transferred between the two countries from host-country social security contributions for up to five years, subject to a certificate of coverage. The arrangement is reciprocal for eligible UK nationals working in India and is intended to preserve home-country social security coverage during temporary overseas assignments while reducing duplicate contribution burdens on workers and employers.
June 18, 2026
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Gold import duty hike drives sharp fall in volumes as foreign exchange conservation becomes policy priority.
Gold imports in India declined sharply in volume terms after the customs duty on gold and silver was raised from 6 per cent to 15 per cent. Imports reportedly fell to about 25-30 tonnes in a month from earlier levels of 75-100 tonnes, while higher global prices kept import values elevated. The duty increase is presented as part of a broader policy response aimed at curbing gold purchases and conserving foreign exchange for essential imports.
June 18, 2026
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Trade and social security framework expands duty-free access, services mobility, and temporary worker contribution relief.
India and the United Kingdom will bring CETA and the Agreement on Social Security into force on 15 July 2026, creating a broad trade and mobility framework covering goods, services, digital trade, telecommunications, financial services, intellectual property, government procurement, innovation, SMEs, sustainability and transparency. CETA provides immediate duty-free access for nearly 99% of India's exports to the UK, expands services market access across 137 sub-sectors, and preserves protection for sensitive Indian sectors. The Social Security Agreement exempts temporary workers from dual contributions and extends the exemption period from 3 years to 5 years.
June 18, 2026
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Trade agreement talks advance as India and the United States push for a balanced, commercially meaningful pact.
Trade negotiations between India and the United States were advanced through a directive by the two leaders to their officials to work towards a balanced, mutually beneficial and commercially meaningful interim bilateral trade agreement at the earliest. The talks were described as having made significant progress, with further negotiations already underway and a visiting trade representative expected to take them forward. Both sides also reaffirmed commitment to strengthen the India-US Comprehensive Global Strategic Partnership and expand cooperation across defence, strategic technologies, energy and bilateral trade.
June 18, 2026
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Foreign interference in elections fuels Brazil-US tensions amid tariff disputes, sanctions, and criticism of drug-cartel designations.
Brazilian President Luiz Inacio Lula da Silva warned against foreign interference in Brazil's October presidential election after remarks by the US President and renewed criticism linked to judicial action involving Lula's political rivals. The dispute reflects escalating tensions between Brazil and the United States over Brazil's domestic politics, including US sanctions against a Brazilian Supreme Court Justice and public comments about the Bolsonaro family. The article also notes proposed additional tariffs on Brazilian imports and Lula's criticism of the US designation of two Brazilian drug-trafficking groups as foreign terrorist organizations.
June 18, 2026
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Phased customs duty cuts and quota limits govern UK passenger car imports under the India-UK trade pact.
India-UK trade pact provides phased reduction of customs duty on passenger vehicle imports from the UK, with quota-based access across specified engine-capacity and price bands. Conventional-engine passenger cars receive concessional treatment over 15 years, while electric, hybrid and hydrogen passenger cars are covered only from later years under limited quotas and reduced duties. Vehicles priced below GBP 40,000 CIF are excluded from market opening, and zero-emission two-wheelers, buses and trucks are excluded from any preferential customs duty concession.
June 17, 2026
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Social security exemption for Indian workers in the UK extends to five years under the trade pact.
Social security arrangements under the India-UK trade pact provide a temporary exemption from dual social security contributions for Indian workers and employers in the United Kingdom during overseas assignments. The exemption period is extended from three years to five years, applying to employees seconded from India to support UK operations. The arrangement is intended to preserve continued social security coverage during temporary postings and to facilitate labour mobility between the two countries.
June 17, 2026
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Steel trade safeguards shape India-UK CETA implementation as quota limits and tariff rules are adjusted for exporters.
India-UK CETA is set to enter into force from 15 July 2026, with steel trade arrangements designed to keep a substantial share of India's exports outside the UK's safeguard measures. India's interests are said to be protected through country-specific quota, residual quota and access under the Authorised Use Scheme, while the UK's new steel regime will limit tariff-free imports, reduce quota volumes and impose a higher tariff on imports above the permitted levels. The article also notes the UK's planned carbon border adjustment mechanism from 2027.
June 17, 2026
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India-UK free trade pact expands duty-free market access and extends social security relief for temporary workers.
India and the United Kingdom will bring into force the free trade agreement and the Agreement on Social Security, or Double Contribution Convention, on 15 July 2026 after completing internal procedures and ratifications. The pact is said to provide immediate duty-free access for 99 per cent of Indian exports, tariff reductions on selected British goods, and broader market access for services, while preserving exclusion lists for sensitive sectors. The Double Contribution Convention will exempt Indian companies in the UK from social security contributions for up to five years for employees sent from India.
June 17, 2026
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Minimum Support Price guarantee and trade pact opposition drive a nationwide farmers' protest campaign.
Opposition to the proposed India-US Free Trade Agreement centred on demands for a legal guarantee of Minimum Support Price at C2 plus 50 per cent with assured procurement, repeal of free trade agreements, and a comprehensive farm loan waiver. The campaign also included planned nationwide protest action, protest forms to be by state bodies, and related demands on rural employment, wages, water rights and other local agitations.
June 17, 2026
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Trade liberalisation and tariff cuts under the India-UK economic pact are set to begin on 15 July 2026.
The India-UK Comprehensive Economic and Trade Agreement is scheduled to enter into force on 15 July 2026, initiating a framework for deeper bilateral trade, investment and market access. The agreement is described as providing substantial tariff liberalisation across goods and services, including staged reductions or elimination of duties on selected products, and reciprocal social security coordination for highly skilled professionals on pre-existing visa routes.
June 17, 2026
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India-UK free trade pact and social security convention set to take effect together from 15 July 2026.
The India-UK Comprehensive Economic and Trade Agreement (CETA) is scheduled to enter into force on 15 July 2026, marking the commencement of the bilateral free trade pact. The Agreement on Social Security, also described as the Double Contribution Convention (DCC), will take effect on the same date.
June 17, 2026
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Country-of-origin fraud in walnut imports triggered customs duty evasion, arrests, and conditional release of seized consignments.
Fraudulent walnut imports were allegedly routed through Nhava Sheva Port by falsely declaring non-Afghanistan consignments as Afghanistan-origin to claim preferential tariff benefits under SAFTA, using forged transit bills of lading and proxy importers. Five persons were arrested and searches yielded digital and documentary evidence. In a related writ petition, conditional release of seized consignments was permitted only against deposit of the full differential duty or a bank guarantee of equivalent amount.
June 17, 2026
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India-EU free trade agreement advances with investment, defence cooperation and connectivity talks on the agenda.
India and the European Union are to advance their trade and economic engagement by finalising a free trade agreement by the end of the year and accelerating work on an investment agreement. The two sides also identified wider areas of cooperation, including stepped-up security and defence cooperation and collaboration on connectivity through the India-Middle East-Europe Corridor.
June 17, 2026
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Temporary platform restriction and NEET re-test challenge raise access, compliance, and procedural concerns.
Temporary restriction on access to a messaging platform has prompted a challenge before the Delhi High Court, with the restriction reported as being linked to the period before the NEET-UG re-examination. The development raises a compliance and access issue concerning the basis and scope of the government order affecting the platform. Judicial and parliamentary proceedings are also reported on the NEET-UG re-test and on proposed legislation to decriminalise politics, including a Supreme Court hearing on the re-test plea and committee consideration of detention-linked removal from office for serious crimes.
June 17, 2026
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Special Economic Zones drive India's export growth, with Gujarat emerging as a major hub for investment and semiconductor expansion.
India's export sector recorded an all-time high of USD 863 billion in FY 2025-26 despite disruption from the West Asia conflict and US tariffs, driven by engineering goods, petroleum products, electronics, pharmaceuticals, gems and jewellery, and chemicals. Gujarat emerged as a major contributor, and the discussion highlighted the role of Special Economic Zones in investment, employment, innovation, and export expansion, including newly notified semiconductor SEZ projects and a policy focus on promoting additional SEZs.
June 17, 2026
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Customs duty evasion through false origin claims on walnut imports exposed in a SAFTA-linked routing racket.
Customs authorities uncovered a walnut-import duty evasion racket at Nhava Sheva in which consignments were routed through Jebel Ali and falsely shown as originating from Afghanistan to claim preferential tariff benefits under SAFTA. The scheme allegedly used forged transit bills of lading and a fictitious transit trail to support false country-of-origin claims, causing substantial revenue leakage. Five persons have been arrested, searches yielded digital and documentary evidence, and further investigation continues into beneficiaries, facilitators, financial linkages and connected consignments.
June 16, 2026
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Energy diversification becomes urgent as Southeast Asia confronts import dependence, price shocks and cleaner power transition pressures.
Southeast Asia's energy sector is exposed to supply and price shocks because of heavy reliance on imported oil and gas through the Strait of Hormuz. The report urges diversification of energy sources and supply routes, reduced dependence on imported fossil fuels, improved grid efficiency and greater investment in renewable energy, while noting rising rooftop solar use, electric vehicle sales and renewed interest in nuclear power.
June 16, 2026
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China's export surge threatens European industry as leaders weigh higher tariffs and broader action against overcapacity.
China's export surge is shifting away from the United States tariff wall toward Europe and other open markets, raising concern that a new wave of import competition could disrupt advanced economies. European leaders are considering a stronger tariff response and broader coordination to address the trade threat, while the article links the pressure to China's dominance in world trade, its higher-value exports, and policies that encourage overproduction and suppress domestic consumption.
June 16, 2026
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Rupee strengthens as falling crude prices and easing Middle East tensions improve near-term currency sentiment.
The rupee strengthened in early trade as sharp declines in crude oil prices and easing Middle East tensions improved sentiment for the domestic currency. Traders said reduced pressure on global energy supplies, supportive foreign inflows, gains in domestic equities and a narrowing merchandise trade deficit all backed the near-term outlook for the rupee.

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Customs & Trade

Soybean meal exports fall 63 percent in May due to high prices, West Asia crisis

June 15, 2026

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Indore, Jun 15 (PTI) India's soybean meal exports fell by about 63.50 percent to 50,000 tonnes in May due to high prices and the impact of the West Asia crisis, the Soybean Processors Association of India (SOPA) said on Monday.

According to city-based SOPA, 1.37 lakh tonnes of soybean meal had been exported from the country in May 2025.

SOPA Executive Director D N Pathak told PTI that Indian soybean meal prices have remained higher than those in major exporting countries like the US, Brazil and Argentina for a long time.

"Both high prices and the West Asia crisis have impacted exports. After the crisis began, supplies of Indian soybean meal to Iran came to a complete halt. The supply to the United Arab Emirates (UAE) too stopped later," Pathak said.

The West Asia crisis also severely affected the exports to Kuwait and Oman.

Soybean meal is the product left after soybean oil is extracted. It is a rich source of protein, and is used to produce soy flour and soybean chunks as well as animal feed and chicken and fish feed.

Analysts said the recent announcement of an agreement to end the 107-day conflict between the US and Iran has eased pressure on global markets.

The West Asia crisis began on February 28, when the US and Israel launched a military campaign against Iran. PTI HWP MAS KRK

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