PROVISIONAL ESTIMATES OF WHOLESALE PRICE INDEX, OUTPUT PRODUCER PRICE INDEX, AND TRIAL INPUT PRODUCER PRICE INDEX FOR THE MONTH OF JULY 2026, AND FINA...
The cumulative exports (merchandise & services) during April-July 2026-27 is estimated at US$ 316.42 Billion, as compared to US$ 279.63 Billion in Apr...
Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows. India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available. The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory. Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position. India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
Wholesale and producer price indices show July inflation movements, provisional estimates, final revisions, and manufacturing input-price trends. Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.
Logistics data visibility enables EXIM container tracking, operational analytics and multimodal shipment monitoring across India's logistics chain. Logistics Data Bank provides near real-time visibility of India's EXIM container movement through technology-based tracking and stakeholder monitoring tools. RFID-based coverage extends across ports, terminals, inland logistics facilities, rail networks, industrial zones, borders and highways. The platform uses RFID, Internet of Things, Big Data and Cloud technologies, with analytics on dwell time, transit time, and port and terminal performance to identify logistics bottlenecks. LDB 2.0 adds high-seas tracking of export containers and multimodal shipment visibility.
International organic buyer-seller linkages support Tripura producers through direct sourcing engagement, market access and sustainable export opportunities. International Organic Buyer-Seller Meet in Tripura created a direct platform for organic producers, Farmer Producer Organisations, exporters and international buyers to explore sourcing opportunities, market requirements and long-term commercial linkages. Organic and naturally produced goods, including Queen Pineapple, GI-tagged Kalikhasa Rice, organic ginger and turmeric, black sesame, jackfruit and scented lemon, were showcased through product displays and producer interactions. The initiative seeks to strengthen global market access, sourcing partnerships and income opportunities for organic farmers.
Wholesale price inflation moderation was driven by softer fuel prices, while manufactured goods and primary articles recorded higher inflation. Wholesale price inflation moderated in July, led by a decline in fuel and power inflation and a marginal easing in food-article inflation. Inflation in manufactured products and primary articles increased, making the moderation uneven across groups. Mineral oils, food articles, basic metals, non-food articles, food products, and chemical products remained significant inflation drivers. The output Producer Price Index remained unchanged year-on-year, with lower manufacturing and mining inflation offset by higher agriculture and electricity producer-price inflation.
International investment-grade issuer ratings support expanded foreign-currency funding, trade finance, correspondent banking and cross-border financial market access. IDFC FIRST Bank's inaugural international investment-grade issuer credit ratings, with a stable outlook, are expected to improve access to international funding markets and global financial counterparties. The rating is intended to support standby letter of credit lines, foreign-currency funding through its GIFT City International Banking Unit, mobilisation of FCNR(B) deposits, correspondent banking relationships and cross-border trade finance. Strong capitalisation, improving profitability, stable asset quality and a granular retail funding profile underpin the outlook.
Clandestine psychotropic drug manufacturing faces enforcement targeting precursor chemicals, concealed laboratories, illicit production networks and trafficking operations. Enforcement action against clandestine manufacture of psychotropic substances led to the detection of a residential drug-production facility. Searches recovered amphetamine and intermediary forms, precursor chemicals, reagents, raw materials, and manufacturing equipment. Field testing indicated the presence of amphetamine, a psychotropic substance regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985. The recovered apparatus and materials indicated illicit manufacture, while preliminary investigation pointed to short-term, intermittently operated facilities intended to conceal production activities.
International banking unit expands cross-border financing, trade finance and foreign-currency service access through GIFT City operations. UCO Bank has launched an International Financial Services Centre Banking Unit at GIFT City to provide permitted international banking services. The unit offers trade finance, external commercial borrowings, foreign-currency loans, loan syndication, treasury services and other permitted financial services. It serves Indian corporates, exporters, importers, financial institutions, overseas businesses and other eligible customers requiring cross-border financing and access to global financial markets. FCNR(B) deposits are also offered through the unit.
Last-mile credit access is prioritised through timely lending, wider beneficiary coverage, digital support and stronger fraud vigilance. Banking-sector participation is emphasised through last-mile credit access for MSMEs, women entrepreneurs, rural artisans, small farmers and other underserved beneficiaries. Banks are urged to expedite government-scheme applications, maximise coverage and use technology for timely financial support. Industrial-policy assistance and incentives cover startups, SC/ST entrepreneurs, persons with disabilities and first-generation entrepreneurs. Greater coordination, expanded village banking access, and vigilance against cyber fraud and mule accounts are also prioritised.
Merchandise trade growth saw rising exports to major markets alongside increased imports and continuing United States trade-pact negotiations. India's merchandise trade data records increased July exports to the United States and China, alongside growth in imports from both markets. Exports to Singapore, the United Arab Emirates, the Netherlands, Germany, South Africa, Tanzania, Australia, Malaysia, Sri Lanka, Italy and Vietnam showed positive growth, while July exports declined for the United Kingdom, Bangladesh, Saudi Arabia and Nepal. Imports also increased from Russia, Korea, Singapore, Germany, Oman, Malaysia, Taiwan and Brazil. India and the United States are negotiating a trade pact amid an additional United States tariff on India.
GST transport documentation enforcement addresses freight movement of metals without valid e-way bills and invoices under applicable rules. GST enforcement action led to the seizure of copper and aluminium ingots transported by freight train without valid e-way bills and invoices. The metals were found in three train wagons during inspection of parcel cargo. Further proceedings are to be undertaken under applicable GST rules concerning movement of goods without prescribed transport documentation.
Merchandise trade deficit widens as import growth outpaces exports despite strong petroleum, electronics and engineering shipments. Merchandise trade in July 2026 saw exports rise 19.63 per cent and imports increase 17.52 per cent, widening the trade deficit to a six-month high. Petroleum products, electronics, engineering goods and marine goods supported export growth, while crude oil and several commodity and capital-goods categories increased imports. During April-July 2026-27, faster import growth widened the cumulative merchandise trade deficit compared with the corresponding prior-year period.
Bribery allegations in GST enforcement prompted arrest after alleged payment demand to avoid a tax-liability notice. Bribery allegations involving GST enforcement led to the arrest of a CGST Superintendent after a complaint alleged that payment was demanded from a private company to avoid issuance of a tax-liability demand notice and to close the matter. A trap operation resulted in the public servant being apprehended while allegedly accepting part of the demanded bribe, and the amount accepted was recovered. Searches were undertaken, and investigation remained ongoing.
Trade performance shows rising merchandise and services exports, but faster import growth expands the overall trade deficit. India's combined merchandise and services exports and imports increased in July 2026 and April-July 2026-27, while the overall trade deficit widened. Cumulative exports were estimated at US$ 316.42 billion and imports at US$ 365.85 billion, resulting in a trade deficit of US$ 49.43 billion. Merchandise exports, non-petroleum exports, and exports excluding petroleum and gems and jewellery grew, led by petroleum products, electronic goods, engineering goods and chemicals. Services trade recorded a cumulative surplus of US$ 69.17 billion.
Student GIC referral programmes integrate connectivity credits with funding verification and post-arrival banking arrangements for eligible international students. Referral arrangements connect mobile connectivity benefits with the Student Guaranteed Investment Certificate application journey. Applicants may access an online portal through a referral link, submit documents, complete know-your-customer verification, and fund the GIC from permitted Indian bank accounts in no more than two transactions. After arrival, students may activate the GIC account and open a linked bank account for receipt of GIC transfers. Eligible verified applicants receive non-cash mobile credits usable only against mobile bills, subject to a cap on the bill portion payable through credits.
Global Capability Centre banking support connects offshore and onshore operations to simplify financial management and enable cross-border expansion. Global Capability Centre banking support is positioned around connected offshore and onshore banking, international network access, digital banking platforms, and expertise in treasury centres, cross-border corporates, and evolving GCC operating models. The approach seeks to simplify financial operations and support GCC expansion across global markets. India's GCC ecosystem is characterised as a leading global capability hub, with capability centres evolving into strategic enterprise hubs requiring support for operational and financial complexities across markets.
Investment banking registration enables regulated cross-border offerings, listings, debt transactions and capital-market advisory through GIFT City. IFSCA registration under the IFSCA (Capital Market Intermediaries) Regulations, 2025 authorises Nexent Capital IFSC Private Limited to operate as an investment banker from GIFT City. Permitted activities include management of initial and follow-on public offerings, SPAC and secondary listings, depository receipt issuances, debt capital-market transactions, and other capital-market advisory mandates. The firm proposes to provide transaction structuring, listing-readiness, execution and post-listing capital-markets support for companies seeking capital raising and listing opportunities through GIFT City's exchanges.
Addressing a press conference here today, Shri Anand Sharma, Union Minister of Commerce & Industry, has stated that quick estimates of exports during October, 2009 indicates significant signs of stabilization and improvement in the Indian exports compared to decline of close to 39% in May 200. "The decline in exports in October 2009 was only 6.6% in Dollar terms ($13.19 Billion in October 2009 vis-à-vis $ 14.13 Billion in October, 2008). The stablisation in the exports needs to be viewed in the context of projections of IMF of 11.9% decline in world trade volume during the year 2009 coupled with 36.6% decline in commodity prices of oil, and 20.3% decline in non-fuel commodity prices during 2009", the Minister added.
An analysis of the sectoral performance indicates that the following sectors have continued to do well with no effect of global slowdown (with increase in exports of US$ terms during April-October, 2009 as compared to corresponding period of previous year): Man-made yarn / fabric / made ups (+1.2%).; Tobacco(+20.5%); Fruits and Vegetables (+5.7%)
Further analysis shows that some export commodities which were significantly impacted by global slowdown, have now shown a turnaround in exports during October, 2009 (with positive export in October, 2009 as compared to October 2008): Plastic and Linoleum [+13.2% in Oct 09; (-) 18.6% in Apr-Oct 09]; Drugs and Pharmaceuticals [+9.3% in Oct 09; (-) 9% in Apr-Oct 09]; Marine Products[+3.7% in Oct 09; (-) 1.1% in Apr-Oct 09]; Iron ore [+250% in Oct 09; (-) 19.9% in Apr-Oct 09]; Spices [+18.2% in Oct 09; (-) 22.1% in Apr-Oct 09]; Oil meal [+19.8% in Oct 09; (-) 37.1% in Apr-Oct 09]; Cashew [+20.6% in Oct 09; (-) 21.9% in Apr-Oct 09]; Petroleum products [+7.8% in Oct 09; (-) 37.9% in Apr-Oct 09]
Some export commodities which were significantly impacted by global slowdown have shown lower rate of decline in October, 2009 as compared to earlier months: Cotton yarn / fabrics / made ups [(-)9.7% in Oct 09; (-) 28.7% in Apr-Oct 09]; Handicrafts [(-) 8.5% in Oct, 09; (-) 26.6% in Apr-Oct 09]; Basic chemicals (other than pharmaceuticals) [(-) 13% in Apr, 09; (-) 25% in Apr-Oct 09]; Gems and Jewellery [(-) 16.8% in Oct, 09; (-) 26.7% in Apr-Oct 09]; Leather and Leather manufactures [(-) 13.8% in Oct, 09; (-) 25.1% in Apr-Oct 09]; Engineering goods [(-) 14.7% in Oct, 09; (-) 30.1% in Apr-Oct 09]; Electronic goods [(-) 9.9% in Oct, 09; (-) 28.9% in Apr-Oct 09]; Tea [(-) 7% in Oct, 09; (-) 33.9% in Apr-Oct 09]
There are, however, some sectors which still continue to show significant decline in exports: Jute manufacturing including floor covering [(-)38.9% in Apr-Oct 09]; Carpets [(-)28.6% in Apr-Oct 09]; Coal and other ores including processed minerals [(-)25.3% in Apr-Oct 09]
Software exports have not shown any decline during April - October, 2009.
Overall reduction in the rate of decline of export growth in the 7 months of the current financial year, tend to indicate that the different support measures of Government, announced during the Budget and the Foreign Trade Policy, do appear to have contributed significantly in arresting the rate of decline, particularly, for labour intensive sectors.
Shri Sharma said that despite the current economic downturn, FDI inflows during April-September, 2009 were US $ 15.3 billion, which is comparable to US $ 17.2 billion received during the corresponding period of the financial year. Total FDI into India since the onset of the liberalisation process (August, 1991-September, 2009) is nearly US $ 121.85 billion.
The Minister underlined that various reports continue to place India as a highly attractive destination for investments and added that the UNCTAD World Investment Report (WIR) 2009, in its analysis of the global trends and sustained growth of Foreign Direct Investment (FDI) inflows, has reported India as the third most attractive location for FDI for 2009-2011. According to the WIR 2009 report, the top five most attractive locations for FDI for 2009-11 are China, United States, India, Brazil and the Russian Federation. India continues to attract investors in the high value-added services industries like financial services and information technology. The top position is occupied by China, while the US is the fourth in the list. The report predicts India to be on the cusp of FDI take off, in view of the Government maintaining focus on reforms, overcoming narrow business interests, de-bottlenecking infrastructure, logistics and regulatory barriers.
As regards industrial growth, the Minister informed that the impact of the stimulus packages announced by the Government can be seen in the revival of growth of the industry, particularly, the manufacturing sector and added that the industrial growth measured by Index of Industrial Production (IIP) recorded a robust growth of 9.1 percent in September 2009. Industrial recovery is generally widespread encompassing most of the sectors. He further highlighted: "The consumer durables (Passenger cars, Televisions, Refrigerators, Air conditioners), registered a double digit growth for the sixth consecutive month at 22.2 per cent in September, 2009 compared to 14.7 per cent in September, 2009. Industry groups such as basic chemicals & chemical products (20.1 percent), machinery & equipment (16.5 per cent ) and rubber, plastic, petroleum and coal products (10.1 percent) recorded a double digit growth in September, 2009."
October 2009 exports showed a moderated decline of 6.6% year on year, with certain sectors sustaining growth and several previously depressed commodities recording positive month on month turnaround. Labour intensive and manufacturing categories exhibited reduced contraction rates, while software exports showed no decline. The release attributes improvement to government Budget and Foreign Trade Policy support measures. Concurrently, FDI inflows for April-September 2009 were comparable to the prior year period, international reports rank India as an attractive FDI location, and industrial production registered robust recovery in September 2009.
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