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...
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.
Merchandise export growth was driven by petroleum, electronics, engineering and marine goods, while rising imports widened the trade deficit. India's merchandise exports increased in July, while imports also rose and widened the trade deficit. Export growth was attributed to higher overseas shipments of petroleum products, electronics, engineering goods and marine goods. Exports and imports both recorded growth during the April-July fiscal period, and exports to West Asian countries increased in July.
EXIM operations at international seaport to commence after customs clearance, bonded-area establishment, and temporary highway connectivity. Vizhinjam International Seaport is scheduled to commence EXIM operations after Customs clearance, issuance of Customs notifications, establishment of a Customs-bonded area, and temporary connectivity to NH-66. The port had previously handled transshipment operations. A proposed transfer of a stake in the port concessionaire to a foreign shipping company remains under committee examination and requires Central Government consideration of strategic and security aspects.
The Prime Minister, Dr. Manmohan Singh, launched the mobile portability across India at a function in Vigyan Bhawan today. Following is the text of the Prime Minister's address on the occasion:
"Many years ago, someone asked me to define development and I thought about it and the simplest answer I could improvise was that development is about widening human choices and in the Telecom Sector, what we are witnessing today and what we have witnessed in the last decade, is a shining example of how our telecommunications services have helped to widen human choices in a very important area of nation's economic activity. I am therefore very happy to participate in this function to launch the Mobile Number Portability service all over our country. Today's occasion marks a very important milestone in the evolution of telecommunications in our country. I compliment Shri Kapil Sibal, Minister of Telecommunications and his talented team, the telecom service providers and the Mobile Number Portability operators for this great innovative step forward.
The telecom sector is one of India's known and praised success stories. Telecom services in our country have witnessed very rapid growth over the last decade and today we are the fastest growing telecom market in the world. The prices of our telecom services are among the lowest globally. We can be reasonably proud of our achievements in this very important sector, which has the potential to act as a catalyst for the growth of other sectors of our economy.
With a major contribution from mobile services we have already achieved a tele-density of about 65%. The Mobile subscriber base has today reached around 750 million from a mere 33 million in March 2004. On the average about 15 million new subscribers are being added each month. More of our countrymen have been touched by this revolution than by any other program, product or service in the history of our nation and that too at a pace unprecedented in the world at large.
Mobile Number portability (MNP) which is being launched today will allow customers to change their mobile operators in their Service Areas while retaining the mobile numbers originally assigned to them, thereby avoiding the inconvenience of switching to new numbers. It will enable a subscriber to exercise his or her choice and get products and services in accordance with his or her preferences. It is expected that this service will go a long way in enhancing customer satisfaction. Affordability has always been an issue for any new service. I have been told that keeping this in mind the service of Mobile Number Portability has been made accessible and affordable to all by keeping the charges as low as Rupees 19. Moreover, it is up to the service provider to charge or not to charge the incoming customer and so a customer may actually end up paying even less for this service.
Competition all over the world enhances the efficiency of businesses, it improves the availability and quality of products and services. The telecommunications sector is a prime example where the fruits of increased competition are visible to all. It is believed that Mobile Number Portability, besides enabling a subscriber to change operators without losing his or her original number, will also trigger greater competition. The telecom service providers will seek to improve the range and quality of their services in order to retain their existing subscribers and also to attract subscribers from other operators. This should further spur the growth of the Indian telecom sector.
Our efforts for inclusive growth will not be successful unless we bring about a socio-economic transformation of our rural areas. Telecommunications provide a key tool to make this happen. Indeed, access to affordable telecom services is the most important development that has happened in the rural areas of our country after the Green Revolution. Our government has taken the initiative for faster rural penetration of telecom services through the Universal Service Obligation Fund to set up towers and cell sites in rural and remote areas. I have been told that more than eleven thousand crore rupees have been spent on various schemes by the Universal Service Obligation Fund.
The advent of 3G and Broadband Wireless Access (BWA) Services will provide a further boost to the provision of affordable voice and broadband services in our country. We must therefore, work on strategies and steps to leverage broadband telecom in addressing persistent development challenges in the field of education, health and rural development. If we modify our approach to development issues and devise new strategies that leverage broadband to the maximum, I am confident that we will overcome many challenges and we will be able to usher in transformational change instead of incremental improvements. Indeed, ubiquitous telecom services have the immense potential to bring many more people from the periphery of the economy into the national mainstream and that should be our objective.
Our future generations will live in an increasingly globalised digital economy. Our ability to communicate and be in touch with others will be a major determinant of the pace of our progress. We must strive tirelessly in that direction. The introduction of Mobile Number Portability is an important step forward in further improving our telecom services. With these words, I once again congratulate all those who have contributed to this success. I wish you many more such achievements in the future."
Mobile Number Portability enables subscribers to change operators while retaining numbers, promoting consumer choice and telecom competition.
The launch of Mobile Number Portability permits subscribers to change mobile service providers within their service areas while retaining their existing numbers, enhancing consumer choice and reducing switching inconvenience. The scheme is intended to be affordable and may involve variable charging practices by providers. MNP is expected to intensify telecom competition by encouraging operators to improve service quality and offerings. The initiative is linked to broader policy measures to expand rural telecom through the Universal Service Obligation Fund and to leverage 3G and Broadband Wireless Access for inclusive development.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
