Customs mutual assistance enables exchange of information to prevent and investigate customs offences and facilitate legitimate cross-border trade.
Approval of an agreement on co-operation and mutual assistance in customs matters establishes a bilateral legal framework for customs authorities to exchange information and intelligence to prevent and investigate customs offences and to facilitate legitimate trade. The agreement conditions entry into force on fulfillment of each party's domestic requirements and specifically contemplates exchange of information on correctness of customs value declarations and authenticity of certificates of origin to support law application and efficient clearance of goods.

Infrastructure status for logistics enables easier infrastructure lending and broader financing access for specified logistics projects.
Granting of Infrastructure Status to the Logistics Sector inserts Logistics Infrastructure into the Harmonized Master List, defining eligible projects-Multi-modal Logistics Parks, Cold Chain Facilities, and Warehousing Facilities-by minimum investment and area thresholds, and enabling qualifying projects to access infrastructure lending on easier terms, larger external commercial borrowings, longer-tenor funds from insurance and pension funds, and eligibility to borrow from the designated infrastructure financing vehicle.

Free Trade Agreement negotiations to advance bilateral trade cooperation and investment, promoting joint ventures and sectoral collaboration.
Ministerial visit advanced bilateral trade and investment cooperation between India and Russia, including discussions with the Eurasian Economic Commission on initiating Free Trade Agreement negotiations, and sectoral engagement across manufacturing, energy, agriculture, railways, and financial services. Outreach included a business Round Table addressing ease of doing business, sector financing, trade promotion, and invitations to a partnership summit, alongside meetings to promote joint ventures, renewable energy collaboration, and SME and investor engagement under the Make in India initiative.

Removal of export prohibition on pulses allows market access for farmers while retaining trade management tools for supply and prices.
Removal of export prohibition on all varieties of pulses permits exports and empowers an inter departmental Committee chaired by the Secretary, Department of Food & Public Distribution to review and adjust the export/import policy. The Committee may adopt measures including quantitative restrictions, prior registration and import duty changes depending on domestic production, demand, price conditions and international trade volumes.

Exchange rate determination for customs valuation fixes official conversion rates for imports and exports effective immediately.
The Central Board prescribed official conversion rates of specified foreign currencies into Indian rupees for customs valuation of imports and exports, effective 17th November, 2017, superseding the prior notification; Schedule I provides per-unit rates for major currencies and Schedule II provides rates per 100 units where applicable, with separate columns for imported and export goods.

Comprehensive Economic Partnership Agreement negotiations progressed, prioritizing services cooperation and movement of natural persons.
Commitments to advance negotiations on a Comprehensive Economic Partnership Agreement (CEPA) were expressed, with emphasis on the Services Component, exchange of services wish lists, and consideration of provisions for movement of natural persons. Progress on the Foreign Investment Promotion and Protection Agreement (FIPA) was noted. Parties agreed to explore cooperation among supporting agencies, including export credit insurance collaboration between India's Export Credit Guarantee Corporation Ltd. and Canada's Export Development Canada and possible engagement with the Canadian Commercial Corporation, and discussed institutionalizing a CEO Forum and using geo-spatial analysis for pulse supply forecasting.

Exchange rate determination for import and export goods updated, prescribing specified conversion rates and superseding prior notification.
Under Customs Act authority, the Central Board prescribes conversion rates of specified foreign currencies into Indian rupees for customs valuation of imported and exported goods, effective 3 November 2017, superseding the prior October 2017 notification except as to prior actions. Rates are set in two schedules: Schedule I lists unit rates for major currencies and Schedule II lists rates per 100 units for currencies quoted on that basis, with separate figures for imported goods and export goods.

Ethanol pricing under EBP revised to stabilise supplier remuneration and enable public oil company procurement for the supply season.
Revision of ethanol pricing under the Ethanol Blended Petrol (EBP) Programme fixes a delivered price for ethanol supplied to Public Sector Oil Marketing Companies for the upcoming supply season, with Goods and Services Tax and transportation charges payable additionally; the price fixation is intended to stabilise supplier remuneration and enable OMC procurement.

Customs cooperation enables information exchange to prevent and investigate customs offences and facilitate legitimate trade.
The Cabinet approved signing and ratification of an Agreement with Armenia on cooperation and mutual assistance in customs matters, which will enter into force after reciprocal diplomatic notification that national legal requirements are fulfilled. The Agreement establishes a legal framework for Customs authorities to exchange information and intelligence to ensure correct application of Customs laws, prevent and investigate Customs offences, and facilitate efficient clearance of goods, including exchange of information on declared Customs value and verification of certificates of origin.

Ex-post facto approval of bilateral trade agreement strengthens trade, investment and technical cooperation framework between partner states.
Ex-post facto Cabinet approval was granted for a bilateral trade Agreement signed on 5 October 2017 replacing the 1982 Agreement; the Agreement provides measures to encourage trade, broaden economic cooperation, and facilitate investment and technical cooperation as the updated governing framework between the two states.

Market access and trade facilitation advanced to ease export procedures, services mobility, and intellectual property cooperation for deeper bilateral commerce.
Bilateral engagement targeted improved market access across agriculture, non agricultural goods and services, addressing specific import and export procedures and promoting trade facilitation in services. The discussions called for easing movement of skilled professionals, pursuing a totalisation agreement for social security portability, and strengthening the IPR ecosystem under the National IPR Policy 2016. Health sector regulatory balance and encouragement of local manufacturing of medical devices were also advanced alongside domestic economic reforms and FDI measures to deepen trade and investment ties.

Exchange Rate Determination: new customs exchange rates for import and export goods take effect, superseding prior notification.
Under the Customs Act, the board determines the rate of exchange for specified foreign currencies into Indian rupees for assessing imported and export goods, superseding the prior notification and prescribing separate rupee equivalents for import and export purposes in two annexed schedules, effective from the stated date.

Trade balance: overall deficit widened despite strong export growth, driven by higher imports and rising oil prices.
Merchandise exports in September 2017 rose strongly year on year across leading commodity groups and cumulatively for April-September 2017-18; imports-including oil and non oil categories-also increased substantially, with oil import values affected by higher Brent prices. The September merchandise deficit was marginally lower year on year, but the cumulative merchandise and overall trade deficits for April-September 2017-18 widened versus the prior year. Services in August 2017 showed positive export and import growth, producing a net services surplus that is included in the provisional overall trade balance.

International economic cooperation deepened to boost trade, investment and technology collaboration between India and Sweden.
Indo-Swedish economic cooperation advanced through Make in India: Sweden 2017, with high-level meetings to strengthen trade and investment ties, invite Swedish investment, and prioritize technology transfer and high-technology zones. Four joint working groups - Digitization, Smart Cities, Defence and Security, and Skill Development - were identified as collaboration priorities, while industry signalled interest in full-scope industrial systems development and technological cooperation. Participants also discussed the potential benefits of an EU-India free trade agreement to improve market access and economic integration, and governments committed to facilitating private-sector engagement and supportive measures.

Exchange Rate Determination sets statutory conversion rates for import and export goods under Customs Act, superseding prior notification.
Determination of exchange rates under the Customs Act fixes statutory conversion rates for specified foreign currencies for customs valuation of imported and exported goods, superseding the prior notification and taking effect from 6th October, 2017. Two schedules apply: Schedule I sets per-unit import and export rates for major currencies, and Schedule II sets per-100-unit rates for specified currencies; the notified figures are the applicable rates for valuation and related customs purposes.

Monetary policy: repo rate held steady and neutral stance kept to balance rising non-food inflation with weak growth prospects.
The Monetary Policy Committee kept the policy repo rate at 6.0 per cent and maintained a neutral stance to achieve the medium term CPI inflation target of 4 per cent ( 2 percentage points) while supporting growth, citing rising CPI inflation excluding food and fuel, firmer crude oil prices, global monetary normalisation risks, and weakening domestic growth and investment as the main considerations for policy continuity and enhanced liquidity management.

Line of Credit and investment interpretative notes set to be signed, enabling bilateral financial cooperation and cashless services launch.
A dollar Line of Credit agreement between Bangladesh and Export-Import Bank of India is expected to be signed as the third credit line, and Joint Interpretative Notes on the Agreement for the Promotion and Protection of Investments are likely to be concluded; the visit will also include launching Cashless Visa Services and a ministerial meeting addressing financial inclusion, demonetization and the cashless economy.

Interbank local currency credit line enables Exim Bank to sign umbrella pacts and pursue bilateral local currency financing.
Approval was granted for Exim Bank to sign an Interbank Local Currency Credit Line Agreement and a Cooperation Memorandum Relating to Credit Ratings under the BRICS Interbank Cooperation Mechanism; both are umbrella, non binding frameworks authorising Exim Bank's Board to negotiate and conclude individual bilateral contracts subject to applicable laws and policies. The credit line enables bilateral local currency financing and co financing options, while the ratings memorandum permits sharing of credit assessments among member banks to mitigate cross border credit risk.

Exchange rate determination sets specified currency conversion rates for import and export goods, replacing a prior notification.
Determination of specified foreign currency conversion rates for use in customs valuation of imported and exported goods, superseding the earlier notification; distinct rupee-equivalent rates are prescribed for imports and for exports in Schedule I (per unit) and Schedule II (per 100 units), and those listed rates are to be applied for customs purposes, subject to non-application to acts completed before supersession.

Anti-dumping duty on Chinese bus and truck radial tyres imposed to remedy below-cost imports and protect domestic industry.
India imposed an anti-dumping duty for five years on new, unused pneumatic radial bus and truck tyres (nominal rim diameter above 16 inches) imported from China, adopting a per-tonne duty range after DGAD recommended action. The DGAD found exports at below normal value and material injury to domestic producers following an application by the Automotive Tyre Manufacturers' Association; the levy is presented as a trade remedy to restore fair competition and protect the domestic industry.