Union Minister of Commerce & Industry, Shri Piyush Goyal Meets European Industry Leaders in Brussels to Deepen India–EU Industrial and Technology Co...
International food-safety and phytosanitary compliance supports premium cherry and plum exports from Jammu and Kashmir to Singapore. Export of premium cherries and plums from Jammu and Kashmir to Singapore was facilitated to expand overseas market access for temperate fruits. The produce underwent scientific cultivation, optimum-maturity harvesting, grading, sorting, packing and cold-chain handling in compliance with international food-safety and phytosanitary standards. The initiative highlights quality enhancement, market development, logistics, export-oriented production and improved post-harvest management for horticultural exports.
Electricity bill recovery and prepaid departmental billing are presented alongside independent tariff regulation and rooftop solar promotion. Electricity-payment arrears were reported against government departments and non-government consumers. Tariffs are determined independently by the State Electricity Regulatory Commission on factors including power-purchase costs, regulatory assets, the distribution company's financial position and public hearings. Recovery from non-government consumers is undertaken under the Electricity Supply Code, while a pre-paid billing system is being implemented for government departments to improve payment compliance. Rooftop solar installations are also being promoted to reduce household electricity bills.
Rupee depreciation pressures intensify as elevated crude prices, foreign capital outflows and geopolitical tensions weigh on exchange markets. The rupee weakened for a fourth consecutive session amid elevated crude oil prices, a stronger dollar index and foreign capital outflows, with rising oil import costs adding to balance-of-payments pressures. Reserve Bank of India data showed an overall balance-of-payments deficit during the first two months of the fiscal year, although the current account recorded a surplus for April-May 2026. Geopolitical tensions and Strait of Hormuz risks were cited as supporting high crude prices, while possible Reserve Bank intervention could support the rupee.
Zero-duty India-UK trade under CETA begins with jewellery and coffee consignments, supported by exporter compliance guidance. India-UK CETA introduced a low- or zero-tariff regime covering about 99 per cent of tariff lines for Indian exports to the United Kingdom. Initial zero-duty jewellery and coffee consignments reached the UK under the agreement. CETA is intended to improve market competitiveness, strengthen supply chains and support businesses, exporters, importers and investors. A dedicated facilitation forum and a guide to UK import standards and regulatory requirements support Indian exporters, particularly small and medium enterprises, in navigating the post-CETA trading regime.
Foreign investor tax exemptions on government securities are proposed to continue, supporting sovereign debt market liquidity and capital inflows. Income-tax exemption for foreign investors in government securities is proposed to continue through the Income-tax (Amendment) Bill, 2026, replacing the corresponding ordinance. The ordinance exempted interest income and capital gains from the sale, exchange or transfer of government securities by foreign investors, effective from 1 April. The measure seeks to attract foreign capital, deepen the sovereign debt market and improve liquidity amid global economic volatility. The legislative agenda also includes MSME reforms concerning delayed-payment redressal, enforcement of arbitral awards and State flexibility in constituting facilitation councils.
Foreign asset reporting requires complete Schedule FA and Schedule FSI disclosures despite limited information displayed in the Annual Information Statement. Annual Information Statement records for eligible taxpayers include foreign assets and foreign-source income information received through the Automatic Exchange of Information framework. The information is intended to facilitate accurate tax compliance and is not a scrutiny or investigation mechanism. As the displayed data is limited to information received from partner jurisdictions and is not exhaustive, taxpayers must correctly and completely disclose all foreign assets and foreign-source income in Schedule FA and Schedule FSI, whether or not such information appears in the Annual Information Statement.
Donation management safeguards require transparent accounting, secure precious-metal handling, audits and adherence to prescribed banking and statutory norms. Donation-management governance at the Vaishno Devi shrine was reviewed with emphasis on transparency, accountability and compliance with standard operating procedures. The review covered collection, counting, accounting, custody and utilisation of offerings, supported by verification procedures, surveillance, banking safeguards and periodic audits. Security protocols also govern the handling, storage, transportation, processing and refining of precious-metal offerings. The review took place amid a pending complaint alleging irregularities in silver offerings, with complete records sought regarding action taken.
EPFO-integrated provident fund payments streamline statutory compliance through digital banking, with real-time confirmations and instant challan downloads for businesses. EPFO-integrated provident fund payment service enables business customers to initiate statutory PF payments through the EPFO portal and complete transactions using the bank's internet banking platform. Real-time transaction confirmations and instant challan downloads support faster processing, cash-flow management and timely compliance with EPFO payment requirements.
Privileged access governance and explainable security monitoring support auditable, sovereign enterprise cybersecurity across private and air-gapped deployments. Swaraj Nandi provides privileged-access management through credential vaulting, automated rotation, Zero-Trust approvals, multi-factor authentication, session recording and audit reporting. Swaraj Hansa provides AI-assisted security information and event management by collecting, correlating and triaging security signals with explainable alerts and human-owned decisions. Both platforms support on-premise, private-cloud and relevant air-gapped deployment models, and their compliance architecture is mapped to the RBI IT Framework, SEBI CSCRF, DPDP Act, PCI-DSS, ISO 27001 and NIST CSF.
Money-laundering investigation targets alleged foreign-funded network facilitating illegal infiltration, forged identity documents and economic rehabilitation of immigrants. A money-laundering investigation examined an alleged syndicate facilitating illegal infiltration, forged Indian identity documents and settlement of Bangladeshi nationals and Rohingyas. Investigators alleged that public charitable trusts receiving foreign contributions channelled funds through multiple bank accounts, mule accounts and layered transactions to support economic rehabilitation through cash assistance, employment and income-generating arrangements. Searches were conducted under the Prevention of Money Laundering Act.
Money-laundering investigation examines alleged foreign-funded networks supporting illegal infiltration, forged documents, and economic settlement of migrants. A money-laundering investigation concerns an alleged network facilitating illegal entry and settlement of Bangladeshi and Rohingya nationals. The alleged scheme involved forged identity and travel documents, charitable trusts receiving overseas contributions, and diversion of funds through bank accounts, mule accounts and layered transactions. Suspected fund use included settlement support, documentation, employment, cash assistance and income-generating assets. Searches examined the alleged infiltration, documentation and financial-support network.
Agentic AI innovation centre enables consumer businesses to co-create, test and scale enterprise AI solutions across operational functions. TCS launched a Gemini Experience Centre in Kolkata with Google Cloud to enable consumer businesses to co-create, test and scale AI-led solutions. The centre showcases agentic AI applications for store operations, supply-chain management, omni-channel retail and customer service, serving retail, consumer packaged goods, travel, tourism and hospitality enterprises. The initiative uses Gemini Enterprise-based industry- and context-aware AI agents and seeks to accelerate agentic AI adoption and support movement from AI pilots to enterprise-scale deployment.
Cost Inflation Index enables inflation-adjusted long-term capital gains calculations through indexed acquisition cost for eligible capital asset transfers. The Cost Inflation Index for financial year 2026-27 is 384 for computing inflation-adjusted long-term capital gains on transfers of capital assets, including immovable property, securities and jewellery. It is used to determine indexed cost of acquisition by adjusting purchase cost for inflation. Long-term classification generally requires holding exceeding 36 months, with stated periods of 24 months for immovable property and unlisted shares and 12 months for listed securities.
India-EU industrial and technology cooperation advances through trade facilitation, resilient supply chains, digital innovation and expanded market access. India-EU industrial and technology cooperation was advanced through engagements addressing industrial collaboration, technology partnerships, bilateral trade opportunities and business-to-business cooperation. Discussions covered trade facilitation, investment flows, supply-chain resilience, digital innovation, competitiveness and regulatory challenges. The interactions emphasised industry-led growth, greater market access for Indian enterprises and innovation-driven partnerships under the Trade and Technology Council framework.
Preferential India-UK trade framework introduces broad zero-duty export access, self-certified origin documentation, and social-security contribution relief for temporary professionals. India-United Kingdom CETA entered into force with preferential tariff treatment, including zero-duty access in the United Kingdom for nearly 99 per cent of India's exports. The Agreement covers goods, services and cooperation in customs, digital trade, financial services, telecommunications, intellectual property and professional services. The associated Agreement on Social Security exempts Indian professionals on temporary United Kingdom assignments from double social-security contributions for up to five years. Rules of Origin certification was operationalised through self-certified Certificates of Origin issued on the eCoO 2.0 platform.
Labour market indicators showed stable overall participation, employment and unemployment, with marginal urban improvement and softer rural unemployment. Monthly labour-market estimates for persons aged 15 years and above, compiled under the Current Weekly Status approach, show stable overall labour-force participation, worker population ratio and unemployment rate in June 2026. Urban labour-force participation and worker population ratio improved marginally, while rural participation and employment remained stable. Female labour-force participation was broadly stable month-on-month. Rural unemployment eased slightly, urban unemployment rose marginally from the preceding month, and urban unemployment declined on a year-on-year basis.
Competition clearance governs full acquisition of a data-centre provider alongside co-investor economic interests in the transaction. Competition approval concerns Opal Bidco Pte. Ltd.'s acquisition of the entire shareholding in STT GDC Pte. Ltd., a data-centre provider. The transaction also provides for specified co-investors to acquire economic interests in STT GDC on a see-through basis. STT GDC operates in India through an indirect subsidiary and is among multiple data-centre participants active in India.
Windfall tax on petroleum exports revises diesel and aviation fuel levies while reducing the petrol export levy. Special Additional Excise Duty on petroleum-product exports was revised from 16 July 2026, increasing the levy on diesel and aviation turbine fuel exports while reducing it on petrol exports. Duty rates on petrol and diesel cleared for domestic consumption remained unchanged. The windfall tax framework seeks to support domestic fuel availability and discourage exporters from benefiting from differences between domestic and global fuel prices during elevated crude-oil prices.
Duty-free market access under the India-UK trade pact expands exports while preserving safeguards for procurement and policy space. The India-UK Comprehensive Economic and Trade Agreement provides duty-free access for nearly 99 per cent of Indian exports and includes reciprocal government-procurement access subject to safeguards. India retains MSME preferences, limits covered procurement to selected central entities, excludes strategic sectors, and applies minimum contract thresholds. The agreement preserves compulsory licensing and permits withdrawal of certain concessions if a future UK carbon tax adversely affects Indian exports. Its gender, SME, environment, and labour chapters contain no dispute-settlement provisions.
India-UK trade agreement expands duty-free market access and tariff reductions for exports, services, manufacturing and small enterprises. India-UK Comprehensive Economic and Trade Agreement (CETA) is stated to provide duty-free access in the UK market for 99 per cent of Indian products and to reduce or eliminate UK import tariffs across key product categories. It is expected to support Karnataka exports in manufacturing, agricultural produce, processed food, electronics, aerospace and medical devices, with certain tariff reductions phased out over time. Mode 1 services provisions are identified as beneficial to Bengaluru's IT industry, while awareness programmes and investment roadshows are proposed to help exporters and attract investment.
Shri Anand Sharma, Union Minister of Commerce & Industry, today addressed the India -EU Business Summit held annually on the sidelines of India-EU Summit. The Summit took place at Brussels and was organized by the Federation of Enterprises in Belgium (FEB) and Business Europe along with Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI). The theme of the Summit this year was "Partnership Opportunities for Sustainable Development".
In his remarks, Shri Sharma mentioned that strategic partnership between India and EU is underpinned by strong business relations and the relationship has expanded in the last few years to span all areas of engagement. Shri Sharma emphasized ten areas of cooperation for the decade, namely, Infrastructure, the entire gamut of Services industry, Skill development, entire spectrum of renewable energy, nuclear commerce, the entire value chain of agro business, innovation and research, space, manufacturing and pharmaceuticals.
In his address, Shri Sharma also expressed optimism for an early conclusion of the Broad-based Trade and Investment Agreement (BTIA) with balanced gains for both India and EU.
Strategic partnership: India-EU cooperation priorities aim to deepen trade and investment ties with a sustainable development focus.
Strategic partnership between India and the European Union is framed as a broad economic cooperation agenda with ten priority areas-infrastructure, services, skill development, renewable energy, nuclear commerce, agribusiness value chains, innovation and research, space, manufacturing and pharmaceuticals-targeted for enhanced bilateral engagement. The address expresses optimism about an early conclusion of the Broad-based Trade and Investment Agreement to secure balanced gains and deepen trade and investment ties under a sustainable development lens.
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