Cabinet approves two multitracking projects covering Four Districts across Odisha and Jharkhand, increasing the existing network of Indian Railways by...
Cabinet approves development of 6 lane Greenfield Elevated Corridor & Ramps/Loops & Foot Over Bridge between National Highway-19 and Varanasi Ring Roa...
Cabinet approves development of 6/4 lane Elevated Corridor along Varuna River Bank & its Ramps/Loops in Uttar Pradesh on Hybrid Annuity Model at total...
Foreign investment screening cooperation advances investment flows alongside trade, technology, supply-chain resilience and prospective investment-protection commitments. India and the European Union concluded a work programme on foreign direct investment screening, exchanging best practices to facilitate investment flows. Trade and Technology Council cooperation addresses market access, standards harmonisation, supply-chain requirements, deep-tech innovation and critical dependencies. The parties also discussed free trade agreement ratification, World Trade Organization reform, and prospective investment-protection and geographical-indications agreements. The Council provides an institutional mechanism for cooperation on trade, trusted technology and economic security.
Balance of payments reporting shows a current account surplus despite a wider trade deficit and portfolio investment outflows. Balance of payments data for April-May 2026 records a current account surplus, supported by increased net services receipts, higher inward remittances and a marginal reduction in net income outgo. The merchandise trade deficit widened as imports rose more than exports. The overall balance of payments moved into deficit, while net foreign direct investment increased and net foreign portfolio investment recorded a larger net outflow.
Online betting money laundering investigation examines alleged proxy accounts, simulated salary payments, cross-border routing, and custodial investigation of the money trail. Money-laundering allegations concerning an online betting syndicate involve purported routing of betting proceeds through fictitious or proxy bank accounts, simulated salary payments, share-capital investments, and foreign institutional channels. An Ebix Group chairman was arrested in connection with the alleged money trail and remanded for investigation. The investigating agency states that prosecution complaints have been filed and that separate state economic-offence and central investigations address connected cases. Political-link allegations were denied, and the stated laundering assertions remain under investigation.
Money laundering asset attachment addresses alleged fund diversion through false invoices, inflated construction costs, shell entities and accommodation entries. Provisional attachment under the Prevention of Money Laundering Act was undertaken in an alleged financial-fraud investigation involving a hospital company. The allegations concern diversion of company funds through purportedly false medical-implant invoices and inflated hospital-construction costs routed through a related company. Accommodation-entry operators and shell entities were allegedly used to conceal the origin of illicit funds. The proceeding arose from a Serious Fraud Investigation Office chargesheet against the hospital promoters.
Money-laundering investigation into online betting proceeds leads to custodial remand amid allegations of layered fund routing. A special PMLA court remanded Ebix Group chairman Vikas Garg to Enforcement Directorate custody in an investigation into alleged money laundering linked to online betting operations. The agency alleged that betting proceeds were routed through accommodation entries, shell entities and layered transactions into entities owned or controlled by Garg, and were used to acquire shares, securities and other assets. It also alleged dissipation or encumbrance of Ebix shares and an attempt to mortgage or sell property treated as proceeds of crime.
India-UK CETA tariff elimination strengthens export prospects for labour-intensive leather, jute, jewellery and agricultural products in British markets. India-UK CETA tariff concessions are expected to improve West Bengal's export competitiveness in the United Kingdom. Duty-free access applies to tea, mangoes and betel leaves, while import duties on jewellery have been removed. Labour-intensive leather, jute, and gems and jewellery sectors are identified as principal beneficiaries, with tariff removal also improving seafood export prospects. Further competitiveness measures are proposed to help exporters use the agreement's trade opportunities.
Zero-duty market access under CETA enables Indian jewellery exporters to enter overseas markets without import tariffs. Zero-duty access under the India-UK Comprehensive Economic and Trade Agreement enables eligible Indian gem and jewellery exports to enter the United Kingdom market without UK import tariffs. The agreement is expected to improve market access and support value-added manufacturing, employment, skill development, and the participation of artisans, micro, small and medium enterprises, and exporters in West Bengal's gem and jewellery sector.
UK-India trade agreement introduces wider market access, tariff reductions and social security arrangements to support bilateral commerce. The UK-India Comprehensive Economic and Trade Agreement has entered into force, providing expanded market access, tariff reduction and trade facilitation. India receives zero-duty access for nearly all exports to the UK, while UK products entering India receive duty-free or reduced-tariff treatment. The framework covers goods including textiles, leather, engineering products, food, cosmetics, alcoholic beverages and premium cars. A bilateral social security agreement has also been operationalised to support wider commercial engagement.
Data governance expectations propose stronger lifecycle controls, quality standards, accountability and third-party data-sharing safeguards for regulated financial entities. Draft regulatory guidance on data governance proposes expectations for regulated financial entities to maintain data that is accurate, consistent, secure and fit for purpose. The framework addresses data-governance arrangements, defined roles, data architecture, metadata and data lineage, data quality, and third-party data-sharing arrangements. It applies to specified banking entities, financial institutions, non-banking financial companies, asset reconstruction companies and credit information companies, and invites stakeholder feedback on the proposed framework.
Semiconductor and mobile manufacturing incentives support domestic production, component sourcing, design investment, exports and resilient electronics supply chains. Semicon 2.0 and the Mobile Phone Manufacturing Scheme provide manufacturing support to expand domestic electronics production, exports and local value addition. Semicon 2.0 covers chip design, equipment and materials, fabrication, advanced packaging and testing, research, and talent development, while supporting semiconductor intellectual property and critical-component manufacturing. The mobile-phone scheme provides production-linked incentives linked to eligible sales, with additional support for domestic component sourcing and Indian investment in product design and research. The measures seek to reduce import dependence and strengthen domestic critical-technology capabilities.
India-UK trade liberalisation expands tariff preferences, services access and skilled professional mobility while preserving protections for sensitive domestic sectors. The India-United Kingdom Comprehensive Economic and Trade Agreement establishes preferential tariff treatment for goods and expands cooperation in services, digital trade, government procurement, investment and professional mobility. India retains protections for sensitive sectors through phased tariff reductions and quota-based access, while duties on British automobiles and alcoholic beverages are reduced in stages. The accompanying social-security convention exempts eligible Indian professionals temporarily assigned to the United Kingdom from simultaneous contributions in both jurisdictions, supporting skilled-worker mobility and reducing employment-related costs.
Railway capacity augmentation strengthens multimodal connectivity, freight movement, operational reliability and lower-emission transport across Odisha and Jharkhand. Railway capacity augmentation is approved through doubling of the Paradeep-Haridaspur route and construction of a fourth line on the Rajkharsawan-Dangoaposi route. The projects aim to reduce congestion, improve railway operational efficiency and reliability, and strengthen integrated multimodal connectivity. Enhanced capacity is intended to support freight transport of coal, iron ore, dolomite, limestone and gypsum, improve regional and tourist connectivity, promote logistics efficiency, and reduce oil imports and carbon emissions.
Urea investment policy promotes gas-based domestic manufacturing through transparent cost treatment, return-on-equity parameters, and foreign-exchange risk mitigation. NIPU-2026 provides a framework for investment in new gas-based urea manufacturing units to increase indigenous production and reduce reliance on imported urea. It separates fixed and variable costs for transparency, provides a prescribed return-on-equity band, and mitigates foreign-exchange exposure through conversion of fixed costs into Indian rupees after four years at prevailing exchange rates. The policy supports self-sufficiency through additional domestic urea manufacturing capacity.
Greenfield elevated corridor development strengthens multimodal connectivity, urban decongestion, road safety and pilgrimage access through the Hybrid Annuity Model. Development of a six-lane greenfield elevated connector corridor between National Highway-19 and the Varanasi Ring Road has been approved under the National Highways (Original) programme through the Hybrid Annuity Model. The access-controlled corridor includes elevated road infrastructure, bridges, loops, ramps, link roads and service roads, and is intended to divert through traffic from congested urban roads. Aligned with the PM Gati Shakti National Master Plan, it integrates road, rail, air and inland-water connectivity while improving access to logistics, religious, educational and cultural destinations.
Hybrid annuity corridor development advances urban decongestion, multimodal connectivity, safer travel and efficient passenger and freight movement. A predominantly elevated 6/4-lane link and connector corridor along the Varuna River Bank has been approved under the Hybrid Annuity Model. Comprising carriageways, flyovers, loops, ramps and service roads, it will connect NH-31 with the Varanasi Ring Road under the Varanasi Decongestion Plan. The corridor is intended to reduce congestion and travel time, improve safety and freight movement, and strengthen access to transport, economic, social and logistics nodes through multimodal integration.
Personal loan disbursal incentives provide eligible borrowers reward bundles, subject to eligibility conditions, verification, assessment and applicable terms. Personal loan disbursal incentive campaign offers eligible borrowers an entertainment and lifestyle voucher bundle upon successful disbursal during the specified promotional period. Reward availability is conditional on customer eligibility and applicable terms and conditions. The collateral-free, digitally processed credit facility involves eligibility-based approval, review of loan terms, KYC and bank-account verification, and application assessment before disbursal.
Domestic-demand weakness slows China's economic growth despite export support from artificial-intelligence technology and electric-vehicle demand. China's economic growth slowed in the second quarter amid weak domestic demand, property-market weakness, subdued consumer confidence and higher energy costs. Export demand, especially for artificial-intelligence technology and electric vehicles, supported foreign trade and industrial production, but underscored reliance on overseas demand. Property investment and new-home prices continued to decline, while youth unemployment remained elevated. Further support measures focused on new infrastructure could be considered as investment growth weakens and systemic risks require management.
Mobile phone manufacturing incentives link eligible sales, domestic sourcing, design and research support to indigenous brands and expanded production. The Mobile Phone Manufacturing Scheme establishes a five-year incentive-linked framework for manufacturing mobile phones in India. It provides differentiated incentive support on eligible sales, additional support for domestic sourcing of key components and sub-assemblies, and a further incentive for product design and research and development aimed at building Indian brands. The scheme seeks to expand domestic production and exports, promote technological sovereignty, create patents, support employment, and strengthen domestic value capture in mobile-phone manufacturing.
Domestic urea investment policy supports new natural gas-based capacity through subsidy-cost separation, assured returns, and foreign-exchange risk mitigation. National Investment Policy 2026 establishes an investment framework to add domestic natural gas-based urea production capacity and reduce import reliance. Extending the New Investment Policy 2012, it provides for separation of fixed and variable costs for subsidy calculation, assured returns for urea plant companies, and foreign-exchange risk mitigation to support investment in new domestic urea manufacturing capacity.
India-UK free trade agreement expands zero-duty export access and reduces duties on specified United Kingdom goods. The India-UK Comprehensive Economic and Trade Agreement entered into force with zero-duty market access for nearly all Indian exports to the United Kingdom. It is expected to support sectors including textiles, leather, gems and jewellery, engineering goods, marine products, chemicals and processed foods. A bilateral social security agreement has also become operational. The arrangement reduces Indian import duties on specified United Kingdom goods, including Scotch whisky and premium UK-built cars.
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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