Revised national income estimates show updated GDP growth and sectoral shifts based on improved data and methodology.
First Revised Estimates for 2017-18 update national income, consumption, saving and capital formation using detailed industry- and institution-wise data and newer source inputs. Real GDP growth at constant (2011-12) prices is estimated at 7.2 per cent and aggregate real GVA at 6.9 per cent in 2017-18, with sectoral shifts toward services. Gross Capital Formation, treated as firmer when derived from the flow-of-funds identity, increased alongside Gross Fixed Capital Formation, while Gross Saving rose led by households and corporations; revisions to earlier years reflect updated agricultural, industrial and fiscal actuals and expanded corporate data.

HSN classification for technical textiles enables targeted monitoring and fiscal support to boost the sector.
Notification of 207 HSN codes creates a discrete category of technical textiles to enable targeted monitoring of imports and exports and to unlock eligibility for fiscal support and incentives that were hindered by prior diffuse classification. This administrative classification underpins measures for procurement weightage, baseline industry surveys, and complements initiatives-such as an Innovation Centre, Centres of Excellence, incubation and training facilities, and an R&D committee-aimed at improving standardization, reducing import dependence for specialty fibres, and accelerating sectoral growth.

Market access for agricultural exports expanded through bilateral sanitary protocols and inspections boosting export potential.
Discussions centered on expanding market access for agricultural and allied products via concluded export protocols, expert inspections, approvals of processing establishments, and ongoing negotiation of SPS Protocols, together with requests to expedite access for additional commodities and revive phytosanitary arrangements to restore export channels.

Tax simplification and transparency: streamline compliance and use technology to enhance taxpayer access and trade facilitation.
The Finance Minister called for tax simplification, greater transparency and wider use of technology to ease tax filing and make compliance taxpayer friendly; he urged CBIC and CBDT to adopt collective decisions and crowdsource ideas from officers to improve departmental efficiency, and highlighted trade facilitation and customs modernisation efforts aligned with the WTO Trade Facilitation Agreement while recognising officers through Presidential and WCO merit awards for contributions to enforcement, revenue mobilisation, automation and capacity building.

Presidential Awards recognize CBIC officers for exceptionally meritorious service and specially distinguished records, prompting formal departmental recognition.
Grant of Presidential Awards recognizes CBIC officers under two categories: Exceptionally Meritorious Service Rendered at the Risk of Life for acts involving personal risk, and Specially Distinguished Record of Service for sustained excellence across enforcement, investigation, policy, administration, training and technical development. The announcement operationalizes these categories by listing selected officers across ranks and units, emphasizing merit-based recognition for contributions to anti-smuggling, narcotics interdiction, tax evasion detection, trade facilitation, infrastructure upgrades, automation and litigation management.

Standby swap flexibility enables prompt currency support under the SAARC swap framework for short term forex needs.
Amendment adds a Standby Swap of USD 400 million within the USD 2 billion SAARC Currency Swap Facility to allow India to provide additional short term foreign exchange support when member countries' swap needs exceed agreed lines. The Standby Swap remains subject to the Facility's structural per country parameters and three month drawal tenors with up to two rollovers; operational terms will be negotiated bilaterally by the Reserve Bank of India with requesting central banks.

SEZ policy review open for stakeholder submissions; report online and comments invited by the stated deadline via email.
A stakeholder group chaired by Baba Kalyani submitted a report on the Special Economic Zone Policy; the Department of Commerce placed the report online and invited written suggestions to be emailed to the designated address by the stated deadline to inform consideration of the Group's recommendations.

Exchange rate notification sets prescribed conversion rates for foreign currencies used in import and export valuation under customs rules.
The Central Board of Indirect Taxes and Customs, exercising authority under the Customs Act, prescribes conversion rates of specified foreign currencies into Indian rupees for import and export valuation, effective from 18th January, 2019, superseding a prior notification; Schedule I lists per unit rates for major currencies with separate import and export columns, and Schedule II lists per 100 unit rates where applicable.

Recapitalisation of export credit agency strengthens its capital base to expand export finance and prospective lines of credit.
The Cabinet approved issuance of government recapitalisation bonds and an increase in the Bank's authorized capital to strengthen capital adequacy, thereby enhancing the Export Import Bank's capacity as the principal export credit agency to finance and support Indian exports, overseas buyers, and Indian suppliers for developmental and infrastructure projects; the recapitalisation also aims to facilitate sectoral initiatives, adjustments to the Concessional Finance Scheme and potential new lines of credit.

Trade balance shows a larger provisional overall deficit for April-December despite year to date export growth.
India's provisional foreign trade statistics for December 2018 and April-December 2018-19-using RBI month-wise QE services data to November with December services estimated-show marginal export growth in December, stronger cumulative export growth, higher cumulative import growth largely driven by oil, and an overall provisional trade deficit for April-December exceeding the previous year; detailed commodity-level estimates and explicit notes that figures are provisional and subject to RBI revision are provided.

Export promotion through market access support enables direct B2B engagement between international buyers and domestic food suppliers.
INDUS FOOD 2019 is a government-supported export promotion platform that scales up a Reverse Buyers Sellers Meet (RBSM) run by the Trade Promotion Council of India with financial support under the Market Access Initiative (MAI) scheme, enabling targeted B2B matchmaking and direct engagement between international buyers and Indian food and beverage suppliers to promote value addition, better price realization, and integration into global value chains.

Export promotion strategy urged to integrate farmers into global value chains and boost agricultural and services exports.
States and Union Territories must formulate state- and product-specific export strategies, improve logistics and infrastructure, and fully utilise central schemes to promote services exports, value-added and organic agricultural produce. The Centre has an Agricultural Export Policy aimed at expanding agricultural exports and will extend the Business Reform Action Plan to the district level to improve regulatory delivery. Targeted support includes funds for champion services sectors, incentives for Geographical Indication registrations, and the Trade Infrastructure for Exports Scheme with additional matching support for the North-Eastern States.

Agri export policy seeks to significantly increase agricultural exports by diversifying markets and promoting high-value, value-added products.
The Agri Export Policy establishes a comprehensive framework to promote market diversification, high-value and value-added agricultural exports, improve cost competitiveness and logistics, integrate with global value chains, and create institutional mechanisms-including State nodal agencies and inter-agency cooperation such as the APEDA-NCDC MoU-to secure market access and address SPS barriers.

Tax and trade measures bolster gems and jewellery sector through GST and import exemptions plus export support programs.
To strengthen the gems and jewellery industry, the Government has implemented regulatory and fiscal measures including establishment of Special Notified Zones, creation of common facility centres, introduction of a separate ITC HS Code for lab-grown diamonds, reduction of GST rates on cut and polished diamonds and precious stones, IGST exemption on gold imports by specified agencies and banks, GST exemption on supply of gold by Nominated Agencies to exporters, and financial assistance for international fairs, buyer-seller meets and export infrastructure.

Anti-dumping duty protects domestic industry by imposing targeted duties and quality controls on imports from China.
DGTR investigated subsidisation and dumping of Chinese imports and imposed countervailing and anti-dumping duties on castings for wind generators, various cold and hot rolled stainless and alloy steel flat products, and detergent chemicals, with duties specified as percentages of landed value or per metric tonne and set for defined durations; the government also reported anti-dumping measures on alloy steel bars and rods and Quality Control Orders by the Ministry of Steel to address substandard imports.

Export promotion measures and quality certification aim to boost herbal exports by improving cultivation, standards and market access.
India's herbal export competitiveness is limited by inadequate cultivation, quality control, processing, standardization and regulatory frameworks. The government has responded with export-promotion assignments to Export Promotion Councils, market-access finance for trade participation and studies, incentive schemes to offset infrastructural inefficiencies, skill and trade-awareness programmes, international cooperation and MoUs, and certification initiatives by the Ministry of AYUSH-including a voluntary certification scheme to promote Good Agricultural Practices and Good Field Collection Practices to increase availability of certified medicinal-plant raw material for export.

Exchange rate notification sets official currency conversion rates for imports and exports under customs authority.
The Central Board fixes official foreign currency conversion rates for customs valuation, superseding the prior notification and prescribing separate rates for imported and exported goods in two schedules (one-unit rates in Schedule I and per hundred unit rates in Schedule II), which operate from the stated effective date for use in import and export transactions.

Import restriction on pulses maintained with quota regime while exports permitted freely through EDI and registered LCS.
The Government continues an import quota restriction on pulses to stabilise prices while allowing export liberalisation of all pulse varieties through Customs EDI ports and, subject to quantity registration with DGFT, via specified non-EDI Land Customs Stations; the release also records a MEIS reward for Bengal Gram and presents recent import-value statistics showing a substantial decline in pulse import values.

Interest Equalisation inclusion for merchant exporters expands rupee export credit support, boosting MSME-linked exports and competitiveness.
Approval extends Interest Equalisation Scheme benefits to merchant exporters for Pre and Post Shipment rupee export credit on products covered by the scheme's specified tariff lines, aligning merchant exporters with manufacturing exporters and aiming to enhance competitiveness and MSME linked export growth.

Trade Remedial Provisions provide mechanisms to address import surges while trade agreements lower input costs for domestic manufacturers.
Trade agreements with Japan, Korea and ASEAN have expanded trade and include trade remedial provisions to address import surges. Imports include high grade steel not produced domestically, while cheaper raw materials and intermediates from partner countries have supported value added domestic manufacturing despite a modest rise in the trade deficit, as reported by the Minister of State for Commerce and Industry.