Preferential treatment for least developed countries in trade in services: binding market access, capacity building and visa fee waiver.
India will notify preferential treatment to Least Developed Countries in trade in services covering market access under Article XVI of the GATS, technical assistance and capacity building, and waiver of visa fees for LDC applicants for Indian business and employment visas, with these preferences bound for fifteen years and the non-market-access components entailing identifiable annual fiscal costs.

Ex-post-facto approval of capital infusion secures government ratification for Export Import Bank of India funding to support growth.
The Union Cabinet granted ex-post-facto approval for a government capital infusion into the Export Import Bank of India, ratifying funding authorised in the Demands for Grants and consented to by the Finance Minister to support the Bank's future growth; EXIM Bank is a statutory corporation under the Export Import Bank of India Act, 1981, tasked with providing financial assistance to exporters and importers and coordinating export-import finance.

Gold Monetization Schemes enable gram denominated deposit accounts, refined gold lending to jewellers, and structured redemption and interest rules.
Introduction of a Gold Monetization Scheme creating gram denominated Gold Savings Accounts, authorised collection and purity testing centres, tripartite bank refiner testing centre agreements, and defined short, medium and long deposit tenors with stated redemption and interest rules; deposited gold to be utilised for auctions, reserve replenishment, coins and lending to jewellers; a Gold Reserve Fund will absorb price risk and receive the spread between government borrowing cost and deposit rates; a revamped Gold Metal Loan facility will supply refiners' gold to jewellers against bank maintained gram denominated loan accounts.

Online Export Import Certificate Programme expands digital capacity building and certification for new exporters, with expert-led training and follow-up.
Launch of an online certificate programme under the Niryat Bandhu Scheme creates a virtual capacity building mechanism for new and potential exporters via live instructional sessions, expert Q&A, and a digital resource library, with periodic cohort intake, certification on completion, and follow up to assess uptake of export facilitation steps and market entry, aligning the initiative with Foreign Trade Policy objectives of skill development and digital access to trade compliance knowledge.

Service tax reform streamlines compliance and credit rules, simplifying registration, credit claims, penalties, and sectoral abatements.
Service tax reforms subsume prior cesses into the main levy, mandate two day registration, extend Cenvat credit timelines and permit re credit for subsequently received export proceeds; they remove payment precondition for reverse charge credit, fix point of taxation for reverse charge by earlier of payment or a specified invoice period, rationalise penalties, allow digital invoicing and electronic records, provide for prosecution withdrawal after final quasi judicial exoneration, and introduce industry measures including uniform transport abatement, clarified public service exemptions, and works contract rationalisation.

Ease of Doing Business: Central Excise procedural simplifications streamline registration, digital records, CENVAT credit timelines, duty payment and targeted exemptions.
Procedural and substantive Central Excise reforms include subsuming certain cesses into basic duty, two day registration with post grant verification, electronic payment for all assessees, permission for digital signatures and electronic records, extension of time for claiming CENVAT Credit to one year, permission for direct dispatch of goods under conditions, rationalisation of penal provisions, instalment payment of arrears and conditional withdrawal of prosecution.

Customs facilitation measures expand round the clock clearance, single window exchanges and digital signatures to accelerate trade and streamline compliance processes.
Administrative measures to facilitate EXIM trade include round the clock customs clearance at designated ports, establishment of a Single Window online message exchange with regulatory agencies, optional digital signatures (mandatory for Accredited Client Programme registrants), reduction of mandatory import/export documents, formation of Customs Clearance Facilitation Committees at port and central levels to monitor and resolve clearance bottlenecks, rationalisation of penalty provisions, and withdrawal of prosecutions where parties are exonerated in final quasi judicial orders.

Manufacturing-led growth to expand employment and exports under stable tax policy, infrastructure investment, and Make in India.
Remarks at EEPC India's Diamond Jubilee stress export-led manufacturing potential supported by stable macroeconomic conditions and tax policy, with policy priorities of sustained infrastructure and human capital investment and the Make In India initiative to attract multinational manufacturing, raise the manufacturing share of GDP, and enable substantial job creation, alongside targeted SME export promotion and nationwide digital connectivity to support e-services and trade.

Exchange rate determination sets notified conversion rates for foreign currencies governing import and export valuation.
Determination of notified rate of exchange prescribes conversion rates between specified foreign currencies and Indian currency for customs valuation of imported and export goods, effective from 4th September, 2015, under the authority of the Customs Act. The instrument supersedes the prior notification and sets distinct rates for imports and exports via Schedule I (per unit rates) and Schedule II (per hundred rates), forming the official administrative basis for converting declared foreign currency amounts for customs purposes.

Core industries index posts modest annual rise with mixed sectoral performance and provisional data revisions.
The Index of Eight Core Industries for July 2015 records the combined index at 168.0 with April-July cumulative growth of 2.1 percent. Monthly sectoral movements were mixed: positive contributions from electricity, refinery products, fertilizers, coal and cement, and declines in crude oil, natural gas and steel. Data are provisional and selected prior year indices have been revised where updated data were received.

Customs exchange rate update: CBEC amends notified foreign currency rates for import and export transactions effective immediately.
The Central Board of Excise & Customs, under Section 14 of the Customs Act, substitutes entries in Notification No. 81/2015-CUSTOMS (N.T.), replacing Serial Nos. 4, 5 and 15 in Schedule I to set distinct rupee-equivalent rates for Danish Kroner, Euro and Swiss Franc for imported and export goods, and replacing Serial No. 1 in Schedule II to set distinct rupee-equivalent rates for Japanese Yen; the amendment is effective from 26th August, 2015.

Policy repo rate guidance: TAC split between recommending easing to support growth and advising pause pending data.
Members reported weak domestic activity with subdued IIP and consumer demand, falling exports and mixed inflation signals; monsoon revival and soft global commodity prices could temper food inflation while core inflation showed upward pressure partly from tax and petrol changes. The TAC was split on the policy repo rate: a majority urged an easing to support growth given benign headline inflation prospects and improving fiscal metrics, while a minority recommended maintaining rates due to surplus liquidity, slowing credit growth and the need to await forthcoming data.

Regulatory reform streamlining licensing and online registrations to simplify business compliance and speed investor clearances.
A comprehensive regulatory streamlining initiative simplifies and digitises business compliance and clearances by consolidating licensing and registration services on a single online portal, enabling simultaneous company incorporation and director identification, reducing documentation for trade, abolishing certain formalities such as minimum paid-up capital and affidavit requirements, adopting updated industrial classification, expanding industrial license validity, automating social security registrations, and publishing checklists and timelines to expedite foreign investment and other clearances.

Export quality control: new sub-office and laboratory to strengthen seafood inspection and testing capacity, reducing transport time.
Establishment of a sub-office and laboratory complex of the Export Inspection Council at Visakhapatnam will provide state-of-the-art laboratory infrastructure and instruments to meet local analytical requirements of seafood industries, reduce transportation time and cost, and support exporter compliance. The project is framed within the EIC's statutory mandate under the Export (Quality Control and Inspection) Act, 1963 and builds on the existing Export Inspection Agency-Chennai regional structure and the Visakhapatnam sub-office's prior limited microbiological testing capacity.

Exchange rate determination fixes distinct import and export currency conversion rates for customs valuation effective from the notified date.
The Central Board of Excise & Customs, exercising powers under section 14 of the Customs Act, prescribes specific rates for conversion between listed foreign currencies and Indian currency for import and export goods, effective 21st August, 2015, superseding the prior notification. Schedule I fixes per unit exchange rates with separate columns for imported and export goods; Schedule II fixes rates per 100 units where applicable, also distinguishing import and export rates.

Works contract taxability clarified: indivisible works contracts not taxable under pre-enactment service tax framework due to absence of valuation rules
The Finance Act, 1994's definition of "taxable service" and the services enumerated in Section 65(105) refer to service contracts simpliciter and do not cover composite indivisible works contracts; absent express statutory charge and valuation/assessment machinery for the service element of such contracts prior to the legislative amendment, the Act did not permit levy of service tax on indivisible works contracts.

Economic integration with CLMV to promote regional value chain participation and coordinated trade investment skills policy, facilitating Indian investment.
The Report advocates an integrated approach across trade, services, investment and skills to strengthen India CLMV economic linkages, develop Regional Value Chains, and advance employment and poverty reduction objectives. It identifies information, communication, skill, banking and SME integration gaps; prioritises sectors including agro processing, pharmaceuticals, light engineering, garments, automobiles, education, IT, tourism and skill development; and recommends promoting Indian manufacturing and investment in CLMV, increasing Indian bank presence, and aligning India's commercial interests with CLMV policy focus to operationalise Act East objectives.

Foreign trade policy reforms expand export incentives and ease trade procedures to boost merchandise and services exports.
Trade-deficit management focuses on curbing imports of petroleum and gold through import appraisal and tariff measures, while the Foreign Trade Policy 2015-20 deploys MEIS and SEIS to incentivise export diversification, simplifies documentary requirements, expands online processing and integrates health and quarantine clearances with customs systems to reduce transaction costs and expedite trade.

State trade council established to coordinate state export policies and facilitate regular stakeholder engagement and export promotion.
Constitution of a Council for Trade Development and Promotion establishes an institutional mechanism for sustained intergovernmental coordination and stakeholder dialogue to integrate State and UT perspectives into national export policy. The Council provides a forum for States/UTs to articulate trade policy priorities, seek assistance for export promotion initiatives, and submit proposals for the Council's agenda. The Department of Commerce has identified state-level initiatives-preparation of Export Strategies, appointment of Export Commissioners, and institution of Export Awards-and reported current implementation metrics.

Cancellation of SEZ approvals requires developer certification of non-availment or refund of tax benefits and state NOC.
Board of Approval approved cancellation/de-notification of 22 SEZs for unsatisfactory developer progress, subject to the concerned Development Commissioner furnishing a prescribed certificate that the developer has not availed any tax/duty benefits (including Service Tax exemptions) or has refunded any such benefits, and subject to a no objection certificate from the concerned State Government.