Competition approval enables acquisition of Krishnapatnam Port by Adani Ports, transferring equity and management control.
CCI grants Competition approval for Adani Ports' acquisition of equity shareholding and management control of Krishnapatnam Port Company Limited. The transaction envisages transfer of controlling interests in KPCL to Adani Ports. Adani Ports is an integrated port infrastructure services provider managing the end-to-end logistics chain. KPCL operates Krishnapatnam deep water port under a Build-Operate-Share-Transfer concession with the Government of Andhra Pradesh. A detailed CCI order will follow.

Data exchange agreement enables automatic and regular sharing of tax-related databases between authorities to improve interagency compliance cooperation.
A Memorandum of Understanding between the tax and indirect taxes boards establishes a framework for regular, automatic and on-request or spontaneous exchange of information between their databases, updating and superseding the prior agreement to reflect GST introduction, institutional changes and technological progress, and providing governance oversight through a Data Exchange Steering Group.

Trade dialogue advances to address product restrictions, social security totalisation and import compliance to strengthen bilateral economic ties.
The tele-conversation advanced India-U.S. trade talks aiming to conclude an initial limited trade package and explore a possible Free Trade Agreement, while addressing three operative impediments: 24 Indian products listed under TVPRA as linked to child labour (U.S. offered labour-department talks), the pending Social Security Totalisation Agreement (U.S. proposed discussions to meet statutory requirements), and a U.S. import ban on wild-catch shrimp over sea-turtle protection (U.S. to facilitate technical agency discussions).

Exchange rate determination for customs valuation sets separate import and export conversion rates for selected foreign currencies.
The Central Board fixes conversion rates for specified foreign currencies into Indian rupees for customs purposes, with separate rates for imported goods and exported goods set out in two schedules. The notification supersedes the prior notification insofar as it affects future application but preserves actions taken before supersession. The scheduled rates apply with effect from the stated effective date and are to be used for customs assessment and related compliance.

Trade balance shift: imports contracted faster than exports, producing a provisional overall trade surplus pending services data revision.
India's trade contracted sharply in April-June 2020-21 with exports and imports showing large negative growth; merchandise exports and imports both fell in June 2020 versus June 2019, while selected commodities recorded gains and many manufactured categories recorded declines. Oil and non oil imports declined substantially, reflecting lower global oil prices, and non petroleum, non gems exports also fell. Provisional figures show a merchandise surplus in June 2020 and an overall provisional trade surplus for April-June 2020-21, pending revision of June services data by the RBI.

Bilateral economic engagement: Forum recommends policy reforms to boost trade, investment, supply chain resilience and mobility.
The India U.S. CEO Forum advanced sectoral recommendations to boost bilateral trade and investment across Healthcare, Aerospace & Defence, Infrastructure, Energy, ICT, Financial Services and Small Business, stressing supply chain cooperation amid Covid 19. Key policy priorities include easing foreign ownership limits in targeted sectors, ensuring policy stability and timely dispute resolution, strengthening intellectual property protection, increasing infrastructure investment, promoting cross border mobility of skilled personnel, and pursuing a Free Trade Agreement as a strategic outcome of deepening commercial engagement.

Export competitiveness must stem from inherent strengths; government to enable ecosystem for electronics manufacturing and exports.
The Ministry seeks industry input to identify electronic products suitable for large-scale domestic manufacture and export and will create an enabling ecosystem through targeted policy interventions. It warns against dependence on time-bound export incentives, urges industry-driven expansion via innovation, R&D and capacity building, and promotes cooperation to implement the National Mission on Quantum Technologies & Applications. The Ministry also plans to improve export data quality with the central bank and has endorsed a strategic ESC paper to augment electronics and software exports within the Aatmanirbhar Bharat framework.

Self-reliance policy urges trade bodies to boost domestic manufacturing and streamline ease of doing business for post pandemic recovery.
Policy calls for trade bodies to partner with government to boost domestic production, improve product quality, achieve higher economies of scale, ensure smooth logistics and competitive pricing, and continue manufacturing and export of critical supplies. It prescribes collaboration to simplify Ease of Doing Business metrics, build robust single window clearance systems and create industry self regulation structures to support post pandemic investment, infrastructure, innovation and job creation as means to realise Aatma Nirabhar Bharat.

Re-import extension for graded diamonds permits duty-free return after foreign certification during pandemic disruptions, easing exporters' compliance.
A three-month extension allows re-import of cut and polished diamonds sent abroad for certification and grading that could not be returned between 1 February 2020 and 31 July 2020 due to COVID-19. Re-import in the extended period is permitted without payment of Basic Customs Duty and IGST by exporters meeting the prescribed average export turnover eligibility; the extension is effected by amendment to Notification No. 09/2012 Customs to aid clearance of consignments stranded abroad.

Contactless Customs enables self service ICEGATE transactions and automated bond debits to reduce physical interface with customs.
Enhancement of laboratory infrastructure and digital intake procedures is directed at accelerating customs clearances by expanding in house testing capacity and securing accreditation for chemical and selected forensic testing. Parallel IT measures implement Contactless Customs under the Turant Customs initiative by enabling exporters to self manage banking and AD code details via ICEGATE, introducing automated debit of bonds in ICES with bond balances shown on import documents, and designating Turant Suvidha Kendra as the sole physical interface point for required document submissions.

Self-reliance policy urges exporters to reduce import dependence and scale domestic production with government support.
Exports are recovering rapidly after Covid-19 setbacks, with June merchandise shipments nearing pre-crisis levels while imports lag. The Commerce Minister, addressing Export Promotion Councils by video conference, credited exporters for the turnaround, anticipated further gains from eased restrictions, announced steps on SEZ recommendations, and urged reduced import dependence under a policy of self-reliance, promoting domestic manufacturing, competitiveness, and continued government support.

Clean energy stimulus can drive economic recovery by prioritizing least-cost, resilient, efficient, and equitable energy investments.
Direct recovery stimulus toward a clean, resilient, and least-cost energy future by investing in electric vehicles, energy storage, and renewable energy, guided by four principles: least-cost solutions, resilient and secure systems, efficiency and competitiveness, and social and environmental equity. Prioritize transport measures (safe public transit, non-motorized infrastructure, reduced vehicle travel, freight and passenger EV adoption, export development) and power-sector measures (better distribution operations, renewables and distributed resources, energy storage, flexible generation, resilience, and domestic manufacturing of clean technologies).

Incentivisation of state agricultural reforms to be designed for inclusion in the Finance Commission's allocation recommendations.
The Fifteenth Finance Commission met the Union Ministry of Agriculture to align its award recommendations with recent agricultural reforms, review measures including amendments to the Essential Commodities framework and two Ordinances on produce trade and farmer agreements, and to address agri export shortcomings. A joint Group of a Commission Member and the Secretaries of Agriculture and DARE was constituted to design a mechanism for incentivisation of states based on reform performance and to assess DARE/ICAR budget requirements for inclusion in the Commission's final recommendations.

Service sector competitiveness urged: reduce import dependence, focus on quality, and pursue new markets and skill development.
The Minister urged reduction of import dependence by using and upskilling domestic labour, and called on industry to build competitive advantage, focus on quality, and explore new markets and services. He said the Government will make targeted policy interventions, support startups and check unfair practices, while noting its limits on providing ongoing support and urging sectoral consensus on proposals.

Paperless exports enabled by secure QR coded Shipping Bills, removing physical proof and making export clearance fully electronic.
The CBIC introduced a Secure QR coded Shipping Bill to be transmitted electronically to exporters upon Customs allowance, eliminating the need for physical proof and making the export clearance process fully electronic from filing to the final order to allow export.

Trade contraction: sharp declines in exports and imports shift the balance, producing an overall trade surplus for the period.
India's April-May 2020-21 trade data show substantial year-on-year declines in both merchandise and services exports and imports; most merchandise sectors recorded negative growth while a few (iron ore, drugs & pharmaceuticals, spices, rice) grew. Oil and non-oil imports fell sharply, influenced by lower Brent prices. RBI-provided April services figures and estimated May figures indicate lower services exports and imports; together, merchandise and services data produce an overall trade surplus for April-May 2020-21, with provisional estimates subject to revision.

e-Office adoption modernizes internal office automation, enabling paperless, contactless file management and improved transparency.
CBIC has deployed the e-Office application as a Mission Mode Project to automate internal file-management functions-receiving and marking dak, online file operation, draft preparation, approval/signature, and dispatch-thereby aiming to accelerate decisions, improve transparency and accountability through monitoring, reduce paper use, and secure records against alteration, destruction, or backdating while enabling faceless, contactless administration.

Export curbs limited to specific diagnostic kits; other testing supplies freely exportable with exporter undertaking at export.
Export controls now target only expressly listed diagnostic kits, reagents, instruments and apparatus used in COVID 19 testing; those listed (including VTM kits, RNA extraction kits, RT PCR kits and reagents, falcon tubes, beads, probes specific to COVID 19 testing, reverse transcriptase enzymes, sterile swabs, silicon columns and magnetic stands) remain restricted for export, while all other diagnostic items are freely exportable subject to an exporter undertaking submitted to customs at export.

Basic Customs Duty change on lentils: temporary reduced import duty rates apply for a limited period before reversion.
Notification No. 26/2020-Cus reduces the Basic Customs Duty on Lentils (Masur) (HS 0713 40 00 / 071340 00), lowering the rate for imports from countries other than the USA from 30% to 10% and for USA-origin or USA-exported consignments from 50% to 30%. The reduced rates apply from 2 June 2020 to 31 August 2020; from 1 September 2020 the rates shown in column (2) of the notification's Table apply.

Aatmanirbhar Bharat in pharmaceuticals-policy incentives and trade measures to boost domestic API and KSM manufacturing.
The statement details government coordination to ensure continued supply and export of essential medicines during the Covid crisis, including targeted export restrictions to prevent hoarding. It announces industrial support measures as part of Aatmanirbhar Bharat: financing for Bulk Drug Parks, a Production Linked Incentive scheme to promote domestic manufacture of critical KSMs, drug intermediates and APIs, expedited anti-dumping investigations, monitoring of bilateral trade for unfair competition, collaborative R&D encouragement, and use of select public sector units as plug-and-play manufacturing partners.