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.
Shri Anand Sharma, Union Minister of Commerce & Industry, speaking at the India-Korea Business forum along with Mr. Kim Jong-Hoon, Minister for Trade, Republic of Korea here today said that the signing of CEPA with Republic of Korea in August 2009 underscored our strong commitment to deepening trade and investment linkages between our two countries. He further stated that it has now been a year since the agreement has come into force and in 2010 the bilateral trade between our two countries stood at nearly US $ 15 billion, witnessing a growth of nearly 44% over the previous year. Though in a recessionary backdrop the trade between our two countries has grown five fold in the last 8 years. Shri Sharma also informed that: "I am confident that as exporters on both sides develop a better understanding of the advantages presented by this agreement through a liberal tariff regime, we should easily be in a position to achieve the trade target of US$ 30 billion by 2014. The services economy will, particularly benefit from a liberalized regime on both sides and will form an important building block for augmenting the bilateral trade between our two countries. We view the agreement with the Republic of Korea to serve as an economic bridge between South Asia and the larger East Asian economy, paving the way for a larger regional economic integration across the continent of Asia". The Forum was attended by senior officials from both the countries and representatives from trade and apex chambers.
Shri Sharma said that in the next decade, India is set to absorb investment of over US $ 1.7 trillion in infrastructure alone. He informed that the Korean Steel Major POSCO Project in the State of Orissa will not only produce 12 million tonnes of steel, bringing in an investment of over US $ 12 billion, but would also create nearly 50,000 direct and indirect jobs. It will also have considerable spin off for large scale mineral development, infrastructure development through captive port, road hubs, downstream activities in automobile and construction, he added.
During the interaction, Shri Sharma mentioned that over the last three years, India has received FDI in excess of US $ 100 billion and we expect that in the next five years we should be receiving FDI equity inflows in excess of US $ 250 billion. "I would like to particularly mention that Delhi-Mumbai Industrial Corridor (DMIC) project represents a whole range of opportunity for establishing new urban townships, investment regions, logistic hubs in an economically vibrant part of India. We welcome Korean business community to join hands with us in our endeavour to develop this Corridor". Shri Sharma also said that we are in the process of establishing large investment regions - National Manufacturing Investment Zones to attract investments in the entire gamut of manufacturing industry. "We invite Korean investments in these investment regions for the development of these regions and also for establishment of manufacturing bases", he added.
In the automobile sector, India is fast emerging as a global design hub for small auto manufacture. Korean auto major like Hyundai have gained considerable popularity in the Indian market. Working together, Indian and Korean companies can develop a model which reaches out to the larger markets in East Asian region. Hyundai Automobiles through its plant in Chennai has expanded operations in the last decade and today is producing 600,000 units a year.
While concluding his address at the Forum, Shri Sharma noted that Asia decisively will have a pivotal role to play in the emerging order and there is no doubt in my mind that partnership between India and Korea will be one of the defining themes of this trend. "Our relationship with South Korea forms the corner stone of India's 'Look East policy' which has defined our engagement with the larger East Asian region", he further added.
CEPA-driven trade liberalisation to double bilateral trade and attract substantial Korean investment over coming years
The CEPA with the Republic of Korea is identified as the primary mechanism for tariff liberalisation and services expansion to raise bilateral trade to US$30 billion by 2014, while India solicits Korean participation in large-scale infrastructure and manufacturing projects-including POSCO, National Manufacturing Investment Zones, and the Delhi-Mumbai Industrial Corridor-to attract substantial FDI, generate employment, and enhance regional industrial and logistics linkages.
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