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August 25, 2026
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Intelligence-led enforcement against illicit trade requires coordinated data-sharing, risk profiling, digital accountability and disruption of organised supply networks.
Cross-border illicit trade enforcement should move beyond isolated seizures to intelligence-led disruption of organised criminal networks. Risk-based profiling, predictive analytics, container scanning and shipment-data analysis should support targeted action against misdeclaration, port-hopping, concealment and digital distribution. Right holders should share specific intelligence with customs targeting mechanisms, and goods entering Domestic Tariff Areas from warehousing and special economic zones require enhanced examination. Digital enforcement should trace suppliers, financial flows, data trails and small-parcel movements, supported by coordinated feedback between online marketplaces, police and customs.
August 25, 2026
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NRI banking account segregation aligns overseas earnings, domestic income, foreign-currency savings, remittances, and borrowing with cross-border commitments.
NRI banking arrangements require segregation of overseas earnings, India-sourced income, savings, remittances and expenditure after residential status changes. An NRE account holds overseas income remitted to India, with interest exempt from income tax in India. An NRO account is intended for Indian income, including rent, dividends and pension, while FCNR deposits retain funds in a chosen foreign currency. A structured arrangement can align these accounts with domestic obligations, overseas spending, remittances, investments and compliant digital banking access.
August 25, 2026
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Sugar import authorisation and anti-hoarding controls aim to moderate ex-mill prices amid adequate domestic stocks.
Raw sugar imports were permitted, while stock limits were imposed on bulk consumers. States were directed to strengthen inspections, and nationwide flying squads were deployed to identify hoarding and speculative conduct. These measures target sugar availability and distribution across wholesale and retail channels. Ex-mill prices declined following the measures, although wholesale and retail prices had not yet reflected the reduction.
August 25, 2026
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Foreign-currency swap window closure focuses non-resident deposit mobilisation, while ECB hedging support continues for public-sector borrowers.
RBI's concessional Foreign Currency Non-Resident Bank deposit swap window closes on August 31, replacing the previous September 30 cut-off. Separately, the special US dollar-rupee foreign-exchange swap window remains available until December 31, 2026, providing concessional currency-hedging support to public sector undertakings raising external commercial borrowings. SBI expects to mobilise predominantly through deposits from non-resident Indians and foreign investors, with external commercial borrowings also visible.
August 25, 2026
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Industrial power tariff revision applies only within the shared distribution area, while steel producers seek rollback and fuel supply support.
Industrial electricity tariff revision is proposed from 1 September for 33 KV and 11 KV consumers within the Damodar Valley Corporation command area. The increase is confined to the shared distribution-licence area, while a separate and higher tariff structure applies outside it. Steel and sponge-iron industry associations oppose the revision on the basis that it will raise energy costs and affect investment conditions. They seek withdrawal of the increase and request continuing supplies of high-grade coal and iron ore for sponge-iron production.
August 25, 2026
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Institutional capital facilitation prioritises repatriation, market access, regulatory predictability, and cross-border partnerships supporting technology-led long-term investment.
India-Japan investment engagement focuses on increasing long-term Japanese institutional capital flows through an enabling business environment, intellectual property protection, policy reforms and integration with global value chains. Facilitation measures include simpler profit repatriation processes, improved access to Indian capital markets, greater regulatory predictability and a seamless cross-border investment environment. GIFT City is explored as a gateway for international capital and Japan-India investment flows.
August 25, 2026
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Strategic investment partnership prioritises semiconductor manufacturing, resilient supply chains and advanced industrial collaboration between Indian and Japanese businesses.
India-Japan economic cooperation is directed toward deeper trade, investment, technology and business-to-business linkages, including economic security, supply-chain resilience, clean energy and innovation. Collaboration is focused on capital goods, machinery, automotive and advanced manufacturing, with stronger connections between Japanese enterprises and India's Tier-II and Tier-III suppliers, including Micro, Small and Medium Enterprises. Semiconductor manufacturing is identified as a significant investment area. The India-Japan Special Strategic and Global Partnership supports expanded engagement with manufacturing ecosystems, global value chains and resilient supply chains.
August 25, 2026
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Bilateral trade and investment cooperation advances through customs alignment, digital payment integration, market access discussions and investment treaty completion.
India-Cambodia trade and investment cooperation addressed trade diversification, market access, customs alignment, digital payments and investment facilitation. Discussions covered traditional medicine, e-governance, recognition of the Indian pharmacopeia, trade statistics, agricultural cooperation, banking and insurance. The parties agreed on an MoU on Customs Cooperation to promote uniform customs procedures and considered early completion and signature of the Bilateral Investment Treaty. UPI-KHQR payment integration, investment promotion, priority-sector cooperation and a private-sector feedback mechanism were also discussed.
August 25, 2026
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Voluntary pharmaceutical export compliance framework promotes legitimate trade while safeguarding controlled substances through information sharing and coordinated capacity building.
The Memorandum of Understanding creates a cooperative framework for legitimate pharmaceutical exports and safeguards against diversion of narcotic drugs, psychotropic substances and controlled precursors. A voluntary, non-binding code of conduct will recommend industry practices without imposing obligations beyond applicable law. Cooperation includes identifying export bottlenecks, streamlining procedures for compliant exporters, capacity-building programmes, lawful and confidential information sharing, and nomination of company contact persons to coordinate voluntary compliance measures.
August 25, 2026
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USD-INR forex swap facility accelerates foreign-currency mobilisation through non-resident deposits and institutional borrowing, strengthening India's external buffers.
USD-INR forex swap facility for FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings enabled banks to access foreign-currency funding through a special swap window. FCNR(B) deposits formed the principal component of the reported foreign-exchange inflows, reflecting participation by non-resident Indians. The FCNR(B) window was scheduled for early closure after the stated mobilisation objective was achieved ahead of schedule, and the inflows were presented as strengthening external buffers through long-term non-resident deposits and institutional funding.
August 25, 2026
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Foreign-exchange intervention moderated rupee depreciation as crude prices, importer dollar demand and geopolitical uncertainty sustained currency-market pressure.
Foreign-exchange conditions reflected a marginal weakening of the rupee against the US dollar, influenced by elevated crude-oil prices, importer demand for dollars, weaker Asian equities and geopolitical uncertainty. The currency remained within a narrow trading band, with RBI dollar sales described as moderating sharper depreciation. The RBI's special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings mobilised substantial foreign-exchange inflows, indicating support from non-resident Indian participants.
August 24, 2026
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Prior government sanction for public servants is contested as essential before money-laundering proceedings may validly proceed for official-duty acts.
Prior prosecution sanction is asserted to be a jurisdictional precondition for money-laundering proceedings against a public servant for acts connected with official duty. A former police officer challenges cognizance and process for want of sanction under the criminal procedure framework and the Maharashtra Police Act, relying on sanctions subsequently granted for co-accused public servants. The allegations concern collection of funds through the officer and their alleged laundering through an educational trust.
August 24, 2026
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Rupee exchange-rate movement gained marginal support from foreign equity inflows despite crude oil, importer demand and geopolitical pressures.
Rupee exchange-rate movement against the US dollar reflected a marginal appreciation, supported by foreign fund inflows into domestic equities. Trading remained within a narrow range amid pressures from higher crude oil prices, continuing importer demand, and geopolitical concerns. Market conditions also included a stronger dollar index, lower Brent crude futures, domestic equity declines, and net foreign institutional investment. Elevated oil prices and geopolitical uncertainty indicated a slight negative bias, while possible US dollar weakness could support the rupee.
August 24, 2026
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Retaliatory trade measures may target electricity, critical minerals and integrated automotive supply chains amid escalating cross-border tariff disputes.
Canada-United States trade relations involve escalating tariffs and contemplated reciprocal restrictions affecting goods, automotive production, electricity exports and critical-mineral supplies. Potential Canadian countermeasures include limiting or increasing the price of Ontario electricity exports and restricting supplies of critical minerals, with oil and potash also identified as possible leverage. The automotive sector faces particular exposure because Ontario production and supply chains are integrated with United States manufacturing. Negotiations also raised concern over limits on Canada's ability to conclude trade agreements with other countries without United States approval.
August 24, 2026
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Mandatory biometric updates for students support continued Aadhaar authentication and access to education, scholarship and benefit-related services.
Mandatory Biometric Update camps have been launched in schools across Tamulpur district, Assam, for eligible students aged 5 to 17 years to update Aadhaar biometrics. Aadhaar biometrics require updating on attaining five years of age and again on attaining fifteen years. Timely updating supports continued Aadhaar authentication and helps avoid difficulties in accessing services where authentication is applicable, including school admissions, entrance-examination registration, scholarships and Direct Benefit Transfer schemes.
August 24, 2026
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Electricity tariff affordability requires immediate review, withdrawal of higher consumer charges, and relief measures for economically weaker households.
Electricity tariff increase in Jammu and Kashmir has been opposed as imposing an unjustified and unaffordable financial burden on domestic consumers amid rising household costs. Immediate review and withdrawal of the increase are sought, together with measures to reduce electricity costs for domestic consumers, particularly economically weaker sections, and ensure affordable, reliable power supply.
August 24, 2026
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Wheat export liberalisation replaces prohibitions to support farm prices while domestic stocks are expected to protect consumer supply.
Wheat and wheat-product exports are liberalised with immediate effect by revising their export policy from prohibited to free. The change covers wheat, wheat flour, maida, semolina and wholemeal atta, replacing the earlier export-ban framework and simplifying exports previously permitted through licences. The measure aims to support farmers amid depressed domestic prices, while adequate domestic availability and buffer stocks are expected to meet demand and moderate consumer prices.
August 24, 2026
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Food safety compliance failures trigger licence suspensions for deficient hygiene, storage, refrigeration, sanitation and valid licensing practices.
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August 24, 2026
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August 24, 2026
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Electricity tariff adjustment is linked to inflation and transmission losses, while free household units remain separately implemented.
Electricity tariff increase of 6.83 per cent after four years is presented as necessary in light of inflation and rising costs. Reducing transmission and distribution losses is identified as a means of limiting future tariff increases. Provision of 200 units of free electricity for poor and needy households through solar panels under the Muft Bijli Yojana is treated as distinct from tariff revisions.

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Customs, DGFT & SEZ

Import of Scrap

August 8, 2014

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The import of any form of metallic waste, scrap is  permitted subject to the condition that it will not contain hazardous, toxic waste, radioactive contaminated waste / scrap containing radioactive material, any type of arms, ammunition, mines, shells, live or used cartridge or any other explosive material in any form either used or otherwise. The Import Policy for import of metallic waste and scrap as listed in Annex-I is ‘free’ subject to the condition that the consignment is accompanied by valid pre-shipment inspection certificate (PSIC), issued by recognized Pre-Shipment Inspection Agency (PSIA) certifying that the metallic scrap is free from explosive and radioactive contamination. Import of any form of metallic waste from Hodaideh, Yemen and Bandar Abbas, Iran can only be in shredded form. While import of shredded scrap is allowed through all ports, import of unshredded scrap can only take place through the following designated ports:

“1.Chennai,     2.Cochin,     3.Ennore,     4.JNPT,     5.Kandla,   6.Mormugao,   7.Mumbai,  8.New Mangalore,  9. Paradip, 10.Tuticorin,   11.Vishakhapatnam,   12. ICD Loni, Ghaziabad, 13.Pipava, 14.Mundra, 15.Kolkata,  16.ICD Ludhiana,  17.ICD  Dadri  (Greater  Noida),  18.ICD  Nagpur,19.ICD  Jodhpur,  20.ICD  Jaipur,  21.ICD  Udaipur,  22.CFS Mulund, 23. ICD Kanpur,  24.ICD Ahmedabad, 25.ICD Pitampur  and 26. ICD Malanpur”.

The details of quantum and value of metallic waste and scrap imported from various countries during each of the last three years and the current year, country and item-wise are at Annex- II.

In view of the risk to human life, property and national security, import of metal scrap in unshredded compressed and loose form is permitted only through 26 designated ports as in (a) above. Government has decided and has taken necessary steps for installing portal monitors, X-rays scanners or radiological scanners to handle metallic scraps, semi-finished products and finished products. Further eight coastal state authorities/maritime boards have been requested for installation of portal monitors at additional ports where metal scraps are handled. Atomic Energy Regulatory Board (AERB) has sensitized concerned Ministries on various aspects of issued related to radioactive contamination in imported metal scrap. Further, AERB in association with other organizations such as National Institute of Secondary Steel Technology (NISST), scrap associations, furnace associations etc  is conducting awareness programmes to sensitize various stake holders of metal recycling industry about the issue.

Annex-I

Import of Metallic Waste and Scrap

Import of following types of metallic waste and scrap are free subject to conditions of Port restrictions and PSIC and other conditions of Foreign Trade Policy/Handbook of  Procedure (2009-2014):

Sl.No.

Exim Code

Item description

1.

720410 00

Waste and scrap of cast iron

2.

72042190

Other

3.

72042920

Of High speed steel

4.

72042990

Other

5.

72043000

Waste and scrap of tinned iron or Steel

6.

72044100

Turnings,      shavings,      chips, milling waste, saw dust, fillings, trimmings and stampings, whether or not in bundles

7.

72044900

Other

8.

72045000

Remelting scrap ingots

9.

74040010

Copper scrap

10.

74040022

Brass scrap

11.

75030010

Nickel scrap

12.

76020010

Aluminium scrap

13.

79020010

Zinc scrap

14.

80020010

Tin scrap

15.

81042010

Magnesium scrap

 

Annex-II

Item-Wise Import Of Metallic Waste And Scrap

Item Description

2011-12

2012-13

2013-14

2014-15(Apr to May)

 

QTY(MT)

VAL

(Rs  in Crore)

QTY(MT)

VAL

(Rs in Crore)

QTY(MT)

VAL

(Rs in Crore)

QTY(MT)

VAL

(Rs in Crore)

 

Ferrous Waste And Scrap; Remelting Scrap  Ingots

6962720

18893.82

8197924

24356.5

4779781

16454.93

930891

3061.78

 

Copper Waste And Scrap

161942

4702.3

204262

6433.33

143735

4945.93

30864

992.36

 

Nickel Waste And Scrap

1128

39.17

668

29.02

2790

138.81

534

23.07

 

Aluminium Waste And Scrap

627672

6072.23

738470

7384.62

721630

7568.9

144700

1506.92

 

Lead Waste And Scrap

66653

652.49

51494

518.92

58834

660.33

9398

106.52

 

Zinc Waste And Scrap

48581

410.91

61219

549.78

69496

683.12

12844

135.45

 

Other Base Metals Waste & Scrap

216

2.79

294

6.56

148

4.43

42

0.47

 

Grand Total

7868912

30773.71

9254331

39278.73

5776414

30456.45

1129273

5826.57

 

 

Country-Wise Import Of Metallic Waste And Scrap

COUNTRY

2011-12

2012-13

2013-14

2014-15(Apr to May)

QTY(MT)

VAL

(Rs in Core)

QTY(MT)

VAL

(Rs in Core)

QTY(MT)

VAL

(Rs in Core)

QTY(MT)

VAL

(Rs in Core)

U ARAB EMTS

1076874

4132.16

1066360

4990.02

933296

4903.35

205647

986.36

U K

1317377

4657.64

1433017

5105.39

832394

3663.02

174910

784

U S A

1116613

3418.54

1207141

4151.17

482399

2323.58

50640

309.75

SAUDI ARAB

164208

1485.39

186664

2009.91

153312

2276.54

28633

406.65

SOUTH AFRICA

672203

1724.64

1243536

3385.12

712757

2199.88

164719

479.95

NETHERLAND

257754

1794.91

327453

2058.51

167979

1356.52

33434

231.82

GERMANY

292544

1585.25

302237

1420.14

177371

1046.84

30143

198.99

AUSTRALIA

112225

568.35

166386

704.87

188006

879.46

40084

197.51

MALAYSIA

128737

691.68

153084

887.6

134414

871.39

36042

195.21

KUWAIT

232614

724.4

238398

951.94

142162

809.15

37319

152.63

SINGAPORE

113376

575.88

180169

787.01

126787

685.16

40602

183.99

THAILAND

32776

240.04

72932

417.96

83653

658.93

17634

172.36

BELGIUM

167269

559.19

152874

652.56

75648

487.35

22711

135.98

BAHARAIN IS

109263

400.67

113123

447.35

93804

411.78

24288

93.13

POLAND

57457

218.22

143105

450.2

80763

329.37

11465

54.32

SWEDEN

156036

519.61

107603

418.95

65514

301.54

6717

36.33

ANGOLA

168266

367.54

121234

346.31

86423

300.95

12548

40.7

SPAIN

14764

122.65

32915

270.15

24316

271.76

2384

41.42

CANADA

51664

142.05

154741

432.7

76986

253.1

8889

32.29

KOREA RP

30407

293.72

32199

260.88

29439

244.65

6996

65.01

OTHER COUNTRIES

1596485

6551.18

1819160

9129.99

1108991

6182.13

173468

1028.17

GRAND TOTAL

7868912

30773.71

9254331

39278.73

5776414

30456.45

1129273

5826.57

The information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.

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