Export incentive reform: MEIS cap prompts transition to RoDTEP reimbursement scheme with committee to set ceiling rates.
The Minister stated that a cap on MEIS benefits will not affect the vast majority of exporters and that the RoDTEP scheme will replace MEIS by reimbursing embedded taxes and duties; a Committee will determine ceiling rates under RoDTEP.

Cap on export incentive eligibility limits MEIS claims; scheme withdrawn from 1 January 2021.
A temporary cap on MEIS rewards limits total benefit payable per IEC for exports from 1.9.2020 to 31.12.2020 and may be further reduced to keep aggregate claims within the Government's allocation; IECs with no exports in the year before 1.9.2020 and IECs obtained on or after 1.9.2020 are ineligible to claim, and the MEIS is withdrawn with effect from 1.1.2021.

Initial limited trade package signals India's readiness to deepen US ties and facilitate business through investment reforms.
India signals readiness to pursue an initial limited trade package with the United States and invites US industry to deepen commercial ties. Complementary facilitation measures include a pilot GIS-enabled land bank for investor site identification and a single-window clearance system being developed across central, state and municipal authorities. Recent upticks in freight and exports and strengthened health infrastructure are presented as supporting conditions for accelerating investment and bilateral trade engagement.

Supply chain resilience initiative to enhance dependable regional trade through diversification, facilitation, and digitized trade procedures.
Ministers from Australia, India and Japan committed to a cooperative initiative to enhance Supply Chain Resilience in the Indo Pacific, directing officials to promptly develop operational details for launch and inviting like minded regional partners. Key measures include diversification of production, promotion and facilitation of trade and investment, identification of sectors that maximize domestic value addition, and adoption of electronic trade documentation to maintain regulatory continuity and reduce supply risks.

Review of ASEAN India Free Trade Agreement to modernize terms, strengthen rules of origin and remove non tariff barriers.
Ministers directed senior officials to commence scoping discussions for a full review of the ASEAN India Trade in Goods Agreement (AITIGA) to modernize the FTA, make it more user friendly and trade facilitative, streamline customs and regulatory procedures, strengthen Rules of Origin, remove non tariff barriers, and improve market access; the ministers also emphasized maintaining resilient supply chains and the unimpeded flow of essential goods consistent with WTO rules.

Public Procurement Policy to prioritise domestic suppliers and require targeted registration, enabling local manufacturing and procurement preference.
The Government launched a prototype National GIS-enabled Land Bank system integrating Industrial Information System with State GIS to map industrial parks and resource/connectivity layers for land identification and procurement, and urged States to adopt the Public Procurement Policy-Make in India Order to prioritise domestic suppliers, require registration/clearances for certain foreign beneficial owners, and use e-marketplace disclosures. States were further requested to establish a single-window digital clearance platform, scale the One District One Product approach for district manufacturing and export hubs, finalise Agri Export Policy action plans, incentivise value addition, and simplify state regulatory compliance and institutional mechanisms for investment facilitation.

Export Preparedness Index guides state-level export policy and infrastructure strategies to strengthen export competitiveness.
The Export Preparedness Index 2020 assesses states and union territories on four pillars-Policy, Business Ecosystem, Export Ecosystem and Export Performance-and eleven sub-pillars to identify gaps in export infrastructure, trade support, growth orientation and R&D, and to recommend coordinated measures such as joint infrastructure development, industry-academia linkages and state-level economic diplomacy to strengthen export competitiveness.

Agricultural export collaboration: MoUs to align capacity building, cluster development and cooperative-led export facilitation for farmers' income.
APEDA signed MoUs with AFC India Limited and NCUI to coordinate capacity building, cluster development and value chain interventions under the Agri Export Policy. AFC will introduce technology for organic and residue free production, support Common Processing Centers, hand hold clusters to commercial viability, implement export oriented cluster projects using available subsidies, and align schemes across pre production to distribution. APEDA will facilitate guidelines and international compliance. NCUI collaboration targets cooperative engagement for quality improvement, certification facilitation, capacity development, market promotion and compilation of a national directory of agri processing cooperatives.

Customs exchange rate determination sets distinct import and export conversion rates for specified foreign currencies for customs valuation.
The notification, issued under section 14 of the Customs Act, 1962, supersedes the prior notification and prescribes, effective from a stated date in August 2020, specified conversion rates of listed foreign currencies into Indian rupees for customs assessment of imported and exported goods, organized in two schedules distinguishing per-unit and per-hundred-unit rates and separate columns for import and export valuation.

Monetary policy held: accommodative stance maintained to support recovery while monitoring elevated inflation risks.
The Monetary Policy Committee decided to keep the policy repo rate unchanged and to continue an accommodative stance to support recovery from COVID-19 while ensuring inflation returns to the medium term target band. The minutes emphasise acute pandemic related uncertainty, elevated and partly imputed CPI inflation that creates a break in the series for policy purposes, persistent supply side and cost push pressures, and the need for coordinated supply side measures alongside Reserve Bank liquidity operations and prior rate cuts to support transmission and growth.

Trade balance shows overall surplus despite sharp year on year decline in exports and imports during April-July
Merchandise exports in July 2020 were USD 23.64 billion (Rs. 1,77,305.79 crore) and cumulative April-July exports fell to USD 74.96 billion from USD 107.41 billion, while imports in July 2020 were USD 28.47 billion (Rs. 2,13,499.56 crore) with April-July imports at USD 88.91 billion versus USD 166.80 billion previously. Oil and non oil import categories both registered substantial year on year declines; services receipts and payments for June 2020 contracted (exports USD 17.00 billion; imports USD 9.96 billion) and July services values are estimated. Combined merchandise and services yield an overall surplus for April-July 2020-21, pending RBI revisions.

Equal and reciprocal trade should secure fair access for Indian products and encourage technology transfer and value addition.
Indian products should obtain equal and reciprocal trade access abroad, with policy focused on a level playing field through selective protection and facilitation. The government will support industry competitiveness, urging investors to bring technology and perform value addition rather than merely assembling imports. Emphasis is placed on integrating India into global supply chains, phased sourcing from India, and leveraging pandemic reforms to expand market access and build supply chain resilience.

In-bond manufacturing scheme enables deferred import duty with remission on export and interest free domestic duty settlement.
The In Bond Manufacturing scheme permits deferred import duty on capital goods and inputs used in bonded manufacturing; duty is remitted if finished goods are exported, while duty becomes payable without interest when goods are cleared domestically. The scheme prioritises efficient capacity utilisation over export exclusivity and features record based, risk based monitoring with minimal physical interface to facilitate ease of doing business.

Exchange Rate Determination: statutory conversion rates set for import and export customs valuation, effective from the notified date.
The notification prescribes statutory conversion rates for specified foreign currencies to be used for customs valuation, distinguishing rates for imported and exported goods and listing them in Schedule I (unit rates) and Schedule II (per-100-unit rates); it supersedes the prior exchange-rate notification except as to earlier actions, and fixes the operative rates with effect from the declared date.

Suspension of sittings; urgent stay applications to be heard by video conferencing and pronouncements extended.
Suspension of Benches' sittings is ordered for the specified period due to COVID 19 while urgent stay applications will be heard via video conferencing; pronouncement deadlines for reserved cases are extended by two weeks subject to prior permission from the President, and attendance of officers, members' personal staff and outsourced staff must follow the cited DOPT memoranda.

State led export plans to incentivize agricultural exports, driving private sector anchored value chains and coordinated funding.
The HLEG recommends a State-led Export Plan for prioritized crop value chain clusters that are action-oriented, time-bound and outcome-focused, collaboratively prepared with private sector players and commodity boards; private industry to act as the anchor, the Centre to enable, and institutional governance plus funding convergence to support implementation.

Single window system for industrial approvals to streamline regulatory clearances and accelerate ease of doing business.
The Government will implement a single window system for industrial approvals, launch a land bank portal compiling state land data, and provide focused support to identified industrial sectors while ensuring liquidity for investment. It seeks an early solution to MEIS cash flow issues to protect exports, and is pursuing decriminalisation and removal of redundant laws alongside commonalising labour law reforms with states to simplify compliance and ease doing business.

Single window system for industrial approvals to streamline clearances and attract foreign investment in priority sectors.
A forthcoming single window system will consolidate industrial clearances and approvals by integrating Central Ministries and State Governments. A proposed land bank will allow remote identification of industrial sites; nodal officers and Project Development Cells will coordinate investible project pipelines. An Empowered Group of Secretaries will expedite decisions on industry schemes and projects.

Agricultural trade reforms enabling private investment and barrier free markets aim to reshape farmer incomes and supply chains.
Five structural shifts-agriculture, renewable energy, ICT and start ups, supply/value chains, and infrastructure-are reshaping India's medium term economy. In agriculture, sustaining farmer incomes requires shifting terms of trade and building efficient supply chains through investment, crop diversification, processing, exports and leveraging the Essential Commodities Act amendment, the Farmers' Produce Trade and Commerce Ordinance, 2020, and the Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Ordinance, 2020. Renewable expansion and ICT/start up growth demand policy and financing reforms, while enhanced GVC participation and diversified infrastructure financing are essential to convert these shifts into structural transformation.

Customs seizure for non compliant cigarette packaging leads to arrest of passengers after green channel clearance.
Seizure of foreign cigarettes without mandated pictorial health warnings was carried out after arrival from Dubai and interception following Green Channel passage; the goods were seized under Section 110 of the Customs Act, 1962 as non compliant imports, and thirteen passengers transporting the consignments were placed under arrest under Section 104 of the Customs Act, 1962, with investigations ongoing.