Trade promotion expands Indian food and beverage exporters' access to Southern African markets through an India Pavilion initiative.
Trade Promotion Council of India is organising an India Pavilion at Food & Drink Technology Africa to facilitate market access for Indian food and beverage exporters, deploying a 42 member business delegation to showcase products across the value chain, promote export opportunities, joint ventures, technology transfer, marketing tie ups, and to introduce Indian packaging and bottling machinery into Southern African supply chains.

Regional trade negotiations advance with ministerial guidance to enable progress and consider an India ASEAN FTA review for greater utilisation.
Regional trade ministers provide political guidance to the Trade Negotiating Committee to advance comprehensive regional economic partnership negotiations while emphasising a rule based multilateral trading framework. Ministers will also consider initiating a review of the India ASEAN Free Trade Agreement to enhance utilisation and mutual benefit, and will assess global economic conditions to support predictable trade arrangements.

Export revitalization strategy to streamline digital trade infrastructure and targeted sectoral policies for market diversification.
A government-led export revitalization strategy combines institutional oversight, sectoral export plans, and digital trade integration: monitoring by a designated mission, streamlined export/import paperwork, IT linkages among DGFT, SEZ, customs and GST systems, electronic bank realisation certificates for faster refunds, and real-time export data access for States to reduce bottlenecks and facilitate market diversification.

Tariff concessions expansion under amended CECA to liberalize rules of origin and strengthen origin verification.
The Second Protocol amends CECA to expand coverage of tariff concessions, liberalize the Rules of Origin, rationalize Product Specific Rules, and include provisions on Certificate of Origin and cooperation on its verification, thereby enhancing preferential market access and streamlining origin compliance and verification between India and Singapore.

National Logistics Portal to integrate trade stakeholders on a single window, reducing logistics costs and boosting trade competitiveness.
A National Logistics Portal will function as a single-window online marketplace linking EXIM and domestic trade stakeholders-traders, manufacturers, logistics and infrastructure providers, financial services and government departments-to streamline trade activities. Implemented in phases, the portal targets reduction of logistics costs from around 14% of GDP to under 10% by 2022, seeks to improve trade competitiveness, generate employment, boost exports, and support India's development as a logistics hub.

Monetary policy: repo rate raised 25 bps to 6.5% to secure the 4% CPI inflation target while retaining a neutral stance.
The MPC increased the policy repo rate by 25 basis points to 6.50 per cent, with corresponding adjustments to reverse repo, MSF and Bank Rate, while retaining a neutral stance to achieve the medium-term inflation target of 4% ( 2%). The decision responds to recent upticks in CPI inflation, persistent non-food non-fuel pressures, elevated input and energy costs, rising inflation expectations and upside risks from higher MSPs, even as domestic growth momentum is retained and external vulnerabilities are noted.

Exchange rate determination for imported and export goods sets official currency conversion rates affecting customs valuation.
Determination under Section 14 of the Customs Act fixing official exchange rates for specified foreign currencies into Indian rupees with separate rates for imported goods and for export goods, effective 17th August, 2018; Schedule I lists one-unit currency rates for multiple currencies and Schedule II sets the rate for Japanese Yen per 100 units, and the notification supersedes the prior CBDT notification while preserving prior actions done before supersession.

Foreign currency smuggling: airport interception uncovers transnational syndicate and triggers arrests and ongoing investigation.
Officers of the Delhi Zonal Unit of the Directorate of Revenue Intelligence intercepted foreign nationals at IGI Airport and seized substantial foreign currency concealed in checked baggage, revealing a transnational smuggling syndicate coordinating movement of gold and reciprocal currency between Hong Kong and India; detained persons include the foreign carriers and an Indian accomplice, and further investigation is ongoing.

Statutory audit guidelines set eligibility, appointment, rotation and scope requirements for auditors in banks, including overseas branches.
RBI guidelines prescribe eligibility, empanelment, selection and appointment procedures for Statutory Central and Branch Auditors, set standards for audit firm term limits, rest periods, treatment of firms with common partners and limits on audit engagements, and require rotation and specified appointment modalities for overseas branch auditors.

Cost audit rules amended to integrate GST into cost statements and overhead classification, with revised CRA 1 and CRA 3 formats.
The amendment revises cost-reporting formats and overhead classification to integrate Goods and Services Tax, exempts companies that already filed CRA 4 for 2017-18 from refiling, substitutes detailed functional overhead classifications (works, administration, selling and distribution), treats operating lease rentals as administrative overheads and finance-lease finance as finance cost, mandates amortisation for long term selling/distribution benefits, deletes paragraph on administrative overheads, expands cost statements for quantitative reconciliation with excise/GST records and indirect tax reconciliation, and inserts a company-level GST reconciliation Table 6(B) effective 01.07.2017.

E commerce shipment via foreign post offices permitted under Export by Post Regulations; MEIS benefits limited by per consignment value ceiling.
E commerce exports are permitted via notified foreign post offices under the Exports by Post Regulations, 2018, which prescribe Postal Bill of Export I for e commerce and Postal Bill of Export II for non e commerce shipments; a Circular clarifies procedural treatment for postal exports and imports. MEIS benefits for e commerce exports are restricted to notified goods subject to an FOB value ceiling per consignment as set by the Department of Commerce notification.

Anti-dumping duty imposed on imported stainless steel products to counter dumping and protect domestic industry.
The Government imposed anti-dumping duty on specified imported stainless-steel flat products for five years under the statutory anti dumping framework, with rates varying by exporting territory and, in some instances, by specific producer/exporter. Duties are fixed as a percentage of landed value or as per metric tonne amounts and are determined to correspond to the calculated dumping margin, with provisions for review on continuation or recurrence of dumping and injury.

Sustainable water use: prioritise reuse and recharge, mandate treated industrial effluent and limit potable supply to drinking.
Imminent national water scarcity requires prioritisation of sustainable use across agricultural, industrial and municipal sectors: improve agricultural water-use efficiency and curb excessive groundwater extraction; increase surface-water storage by recharging aquifers and water bodies; and mandate treatment and reuse of industrial and municipal wastewater so potable supplies are reserved for drinking while protecting water quality from contamination.

Concessional financing support for Indian bidders in strategic overseas infrastructure projects ensures interest equalization and counter guarantee.
Extension of the Concessional Financing Scheme continues authorisation for concessional credit to support Indian entities bidding for strategic overseas infrastructure projects, preserving the mechanism where the Government provides a counter guarantee and interest equalisation support while EXIM Bank raises funds to on lend on concessional terms. Project selection is made by the Ministry of External Affairs and strategic eligibility is determined by an inter departmental Committee chaired by the Secretary, DEA; DEA issues formal approval to EXIM Bank. EXIM Bank's lending is subject to capped margins above LIBOR and loans are secured by repayment guarantees from the foreign government.

Advance Pricing Agreements expand as more unilateral APAs are signed, enhancing certainty and resolving transfer pricing issues.
The Central Board of Direct Taxes entered into nine additional Unilateral Advance Pricing Agreements in July 2018, raising total APAs to 232 (including 20 bilateral agreements). The UAPAs cover varied sectors and international transactions-software services, manufacturing and sale of engineering goods, import of raw materials, royalty and AMP payments-and resolve transfer pricing issues like capacity utilization adjustments and the treatment of AMP expenses, reflecting maturation of the APA Scheme and an emphasis on a non-adversarial tax regime.

Qualified institutions placement enables fresh equity issuance by state-owned copper miner, diluting government stake and funding expansion.
Approval was granted for issue of fresh equity by Hindustan Copper Limited through the Qualified Institutions Placement (QIP) route under SEBI and applicable guidelines, raising fresh shares equal to fifteen percent of paid-up equity, diluting Government shareholding from 76.05% to 66.13% and increasing paid-up capital; proceeds are designated for HCL's expansion and capital expenditure programme.

Monetary policy: repo rate raised to manage rising inflation pressures while supporting growth.
The MPC raised the policy repo rate by 25 basis points to 6.5 per cent, maintaining a neutral stance to achieve the medium term CPI inflation target of 4 per cent while supporting growth, citing global trade tensions, volatile oil and commodity prices, firming domestic inflation from fuel and input costs, domestic activity indicators, liquidity conditions, external sector developments, and key risks including MSP increases, monsoon distribution, inflation expectations, and fiscal and HRA impacts.