Macroeconomic stability and a modern legal-regulatory framework enable IFSC competitiveness and secure international financial activity.
IFSC business potential requires durable macroeconomic stability-including a legislated monetary policy framework, low and stable inflation, fiscal consolidation, prudent limits on contingent government liabilities, infrastructure-oriented public investment, and well-capitalised banks adhering to international capital standards-and a micro ecosystem featuring modern legal infrastructure for enforceable international-standard financial contracts, streamlined registration, supervision, resolution and dispute-settlement processes, and ultimately a unified regulatory framework for the IFSC.

Indirect tax collections rose 26.2% year on year to Rs.5.52 lakh crore, with mixed monthly and component trends.
Aggregate revenue data shows net indirect tax collections of Rs. 5.52 lakh crore for April-November 2016, a 26.2% year-on-year increase and 71.1% of the FY 2016-17 Budget Estimate. Central Excise collected Rs. 2.43 lakh crore (43.5% growth), Service Tax Rs. 1.60 lakh crore (25.7% growth), and Customs Rs. 1.48 lakh crore (5.6% growth). Cumulative growth up to November is 26.2% with ARM and 8.0% without ARM, with November showing a 23.1% year-on-year rise but a 13.9% decline from October.

Indirect tax collections show growth driven by central excise and service tax, while customs decline in December.
Net receipts from indirect tax collections (Central Excise, Service Tax and Customs) for April-December 2016 increased year on year and achieved a large portion of the Budget Estimate; Central Excise and Service Tax were the main drivers of growth, while Customs showed modest annual growth but fell in December due chiefly to reduced gold imports.

State-Centre export partnership to align export strategies and single window Export Commissioners for improved trade facilitation.
The Council directed States to partner with the Centre by preparing export strategies aligned with the Foreign Trade Policy, appointing Export Commissioners as a single window focal point, and enhancing cooperation with central agencies to provide testing, certification, storage and packaging facilities. It emphasised addressing SPS/TBT-related challenges affecting agri, marine, forest and industrial products, and urged diversification of goods and services exports alongside infrastructure and institutional measures such as NABL labs, ICPs, industrial corridors and ICDs.

Export infrastructure push via Trade Infrastructure for Export Scheme to bolster export competitiveness and state-central cooperation.
The speech urges State-Central cooperation to bolster export competitiveness by developing common facilities for testing, certification, traceability, packaging and labelling, and proposes the Trade Infrastructure for Export Scheme (TIES) to provide central financial support for export infrastructure. States are directed to align export strategies with national trade policy, designate Export Commissioners for industry engagement, address sector-specific infrastructure gaps, and promote services export diversification to reduce market concentration.

Customs cooperation agreement enables information sharing to prevent and investigate customs offences and facilitate trade.
Agreement for cooperation and mutual assistance in customs matters establishes a legal framework for bilateral sharing of information and intelligence to ensure correct application of Customs laws, prevent and investigate Customs offences, and facilitate legitimate trade; it expressly covers exchange of information on Customs valuation, authenticity of certificates of origin, and description of traded goods.

Exchange of specified bank notes available to eligible residents and NRIs subject to documentary proof and FEMA limits.
The Reserve Bank of India has introduced a facility to exchange specified bank notes for Indian citizens and NRIs who were abroad during 9 November 2016 to 30 December 2016. Residents may exchange between 2 January and 31 March 2017 without a monetary cap; NRIs may exchange between 2 January and 30 June 2017 subject to FEMA limits. Exchanges are permitted once per individual on submission of identity and documentary proof, with admissible amounts credited to the tenderer's KYC compliant bank account; third party tender is not accepted and certain resident nationals are excluded.