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    Union Minister of Commerce and Industry Shri Piyush Goyal Calls for Fair Trading Practices and Taking ‘Make in India’ from Local to Global
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August 12, 2026
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Fair trading practices and circular production are promoted to strengthen Make in India and expand global market participation.
Trade and industrial policy messaging encourages businesses to digitise operations, adopt good manufacturing practices, follow fair trading practices, and promote recycling, reuse and a circular economy. Nine free trade agreements are identified as creating preferential market-access opportunities for Indian industry and businesses. MSMEs, entrepreneurs, farmers, fishermen, workers and the services sector are encouraged to expand Indian products and services globally, improve competitiveness through scale, and strengthen the quality, design and brand value associated with Make in India.
August 12, 2026
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Private capital mobilisation requires credible long-term frameworks, risk-sharing mechanisms, and multilateral partnerships to strengthen infrastructure investment.
Private capital mobilisation in infrastructure and development finance depends on credible long-term frameworks, investor confidence, project bankability, and balanced risk allocation. Public capital is intended to catalyse rather than replace private investment. Key financing mechanisms include Viability Gap Funding, the Hybrid Annuity Model, credit enhancement, and Infrastructure Investment Trusts. Long-term investment visibility and coordinated connectivity are supported through the National Infrastructure Pipeline and PM Gati Shakti framework, alongside investment measures for freight, rail, waterways, and coastal cargo.
August 12, 2026
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Judicial allowance exemptions under the new tax regime remain disputed, with return processing and resulting demands kept in abeyance.
Tax treatment of specified judicial allowances under the new income-tax regime is disputed. Statutory service-condition provisions are asserted to exclude allowances, including official residence, conveyance, sumptuary allowance and leave travel concession, from income computation and to override the Income-tax Act. Pending consideration, affected judges may show these amounts as receipts not in the nature of income, and their returns are not to be processed further. Any resulting demand remains in abeyance, while refundable amounts are withheld subject to the pending proceedings.
August 12, 2026
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Corporate closure data highlights worker-claim treatment through insolvency adjudication and liquidation priority, while affected-worker information remains unmaintained.
Corporate closure data recorded 36,211 private companies in Maharashtra as liquidated, dissolved or struck off during the preceding five financial years. Central information is not maintained on workers affected by closures or special rehabilitation packages. In corporate insolvency resolution, employee and worker claims are adjudicated under orders of the adjudicating authority. In winding-up or liquidation, the liquidator deals with pending wages and other admissible statutory dues, subject to available funds and the statutory order of priority.
August 12, 2026
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Compressed biogas development converts organic waste into cleaner fuel, rural income and reduced dependence on imported fossil fuels.
CBG development is presented as a route for converting agricultural and organic waste into biomethane, bio-fertiliser and briquettes while reducing fossil-fuel imports, crop-residue burning and waste-management burdens. NexGen Energia's asset-light land-partner model uses landowner-provided sites while the company designs, installs and operates plants, including gas upgrading and offtake logistics. Anaerobic digestion and alternative gas-purification technologies support use of agricultural residue, food waste, manure and distillery effluent. Expansion is linked to the GOBARdhan National Circular Bioenergy Scheme, despite capital, feedstock-aggregation and commissioning constraints.
August 12, 2026
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Bilateral trade cooperation advances through investment focal points, services and health working groups, and planned preferential trade agreement negotiations.
India-Namibia economic cooperation is being progressed through agreed follow-up mechanisms focused on value addition, investment facilitation and sectoral collaboration. Investment focal points have been designated, and a Services Working Group is to prepare a work plan for the Joint Trade Committee. Priority areas include health and pharmaceuticals, critical-mineral processing, gems and jewellery, digital payments, FinTech, railways, renewable energy and green hydrogen. Terms of Reference for the India-SACU preferential trade agreement were finalised, with negotiations to begin after signature and conclude within one year.
August 12, 2026
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AI governance in banking requires explainability, board accountability, rigorous testing, vendor controls and meaningful human oversight for customer-facing decisions.
AI adoption in banking should be governed through a principles-based and proportionate framework that aligns innovation with financial stability, customer protection and accountability. Banks should maintain inventories of AI systems, adopt board-approved governance policies, ensure explainability for material lending and fraud decisions, conduct periodic red-teaming and stress testing, and preserve meaningful human oversight. Key risks include opacity, bias, vendor concentration, third-party dependence, data misuse, cyber vulnerability and loss of institutional accountability. Vendor arrangements require audit and explanation rights and credible exit plans.
August 11, 2026
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Land acquisition funding and regulatory approvals advance satellite-city development, tax relief, identity enrolment, employment verification, and jail reform.
Assam Cabinet approvals include first-phase funding for land acquisition and development of the Aerotropolis Satellite City Project and a lease deed for a hotel supporting the Jagiroad semiconductor ecosystem. Measures also provide Aadhaar enrolment relaxation for Moran and Matak communities, zero agricultural tax up to the prescribed net-income threshold, OBC Non-Creamy Layer certificates, and trainee and graduate-assistance funding. Government jobs will be provisionally held pending police verification, with automatic confirmation where no report is submitted within six months. Jail rules will be amended to promote non-discrimination, sanitation, security and fair work allocation.
August 11, 2026
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Money-laundering investigation into alleged liquor-sale proceeds led to arrest and custodial questioning amid contested political allegations.
Money-laundering investigation concerning an alleged liquor scam led to the Enforcement Directorate's arrest of Ramgopal Agrawal and seven days' custodial remand under the Prevention of Money Laundering Act. The agency alleged his connection with proceeds of crime, non-attendance despite multiple summonses, and evasiveness during questioning. Allegations concern purported control of the state excise department, illegal liquor sales, and sharing of commissions. The Congress has denied the allegations and described the investigation as politically motivated.
August 11, 2026
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GST inquiry closure bribery allegations prompted anti-corruption proceedings against a Sales Tax officer under corruption law.
Alleged bribery in GST inquiry closure led to the arrest of a Sales Tax Assistant Commissioner after a scrap trader complained of a demand for illegal gratification to close an inquiry initiated through a GST show-cause notice. Anti-corruption officials reportedly verified the allegation through intermediaries, during which the officer allegedly agreed to accept payment for closing the matter. A criminal case was registered under the Prevention of Corruption Act, with further investigation ongoing.
August 11, 2026
Show AI Summary
Direct tax collection growth reflected stronger non-corporate taxes and securities transaction tax receipts alongside slower refund issuances.
Net direct tax collections increased by 23 per cent to over Rs 8.11 lakh crore through August 10, driven by higher non-corporate tax collections and slower refund growth. Gross direct tax collections grew by 19.75 per cent to about Rs 9.55 lakh crore. Net corporate tax collections rose about 20 per cent, net non-corporate tax collections rose 23 per cent, and Securities Transaction Tax collections increased 51 per cent. Refund issuances grew by 3.8 per cent year-on-year.
August 11, 2026
Show AI Summary
Vicarious liability in cheque dishonour cases cannot attach to trust associates without statutory status or transaction-specific involvement.
Vicarious criminal liability for cheque dishonour under section 141 of the Negotiable Instruments Act does not extend to a trust, because a trust is not a juristic person. A person cannot be summoned merely for alleged active involvement in a trust where the person was neither drawer nor signatory of the cheques, trustee, office-bearer, authorised account operator, guarantor, or executor of transaction documents.
August 11, 2026
Show AI Summary
Cross-border payment integration through CBDCs and fast payment systems remains under BRICS discussion to reduce transfer costs.
Cross-border payment integration is under discussion through potential linkages between central bank digital currencies and fast payment systems, including UPI-type platforms. These approaches seek faster and less costly trade and remittance transfers, particularly retail payments, but remain at a discussion stage. Rupee internationalisation is also being pursued through central-bank memorandums of understanding for bilateral trade settlement in local currencies, with existing arrangements covering Indonesia, Maldives, Mauritius and the UAE.
August 11, 2026
Show AI Summary
Integrated infrastructure planning under PM GatiShakti coordinates project evaluation, multimodal connectivity, geospatial data use, and decentralized implementation.
PM GatiShakti National Master Plan provides an integrated, data-driven infrastructure planning framework using geospatial data, satellite imagery and API integration. Project approval, implementation and funding remain with the respective Central Ministries, Departments and States or Union Territories under their own plans and budgetary provisions; the framework sets no separate budgetary allocation or quantified targets. The Network Planning Group evaluates critical Central Government projects at the planning stage for multimodality, synchronisation, last-mile connectivity, comprehensive local development and coordinated decision-making.
August 11, 2026
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MSME procurement through GeM has expanded alongside analytics-driven controls against suspicious bidding, collusion, and vendor misconduct.
GeM uses AI/ML analytics to detect order splitting, suspicious bidding, abnormal pricing, repeated participation and potential buyer-seller collusion. Flagged cases are placed before buyer organisations for review and action, while suspected cartels are assessed through digital-footprint, pricing and bid-timing indicators. Its Incident Management framework addresses false documents, fraud, collusive behaviour and other misconduct through administrative measures, including suspension. Anti-competitive conduct and cartel formation are Severe/Grave deviations, with proven cases attracting suspension for up to 365 days.
August 11, 2026
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Direct tax collections show stronger corporate, non-corporate and securities transaction tax receipts, alongside increased refunds during the fiscal period.
Net direct tax collections grew by 23.09 per cent to over Rs 8.11 lakh crore up to August 10 of the current fiscal year, while gross direct tax collections increased by 19.75 per cent to about Rs 9.55 lakh crore. Corporate tax, non-corporate tax including personal income tax, and Securities Transaction Tax receipts recorded growth. Refunds issued between April 1 and August 10 also rose over the corresponding earlier period. Direct tax collections are budgeted at Rs 26.97 lakh crore for the fiscal year.
August 11, 2026
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Mobile food testing laboratory accreditation expands quality-assured testing access and supports coordinated food-safety surveillance and regulatory efficiency.
NABL has launched an Accreditation Scheme for Mobile Food Testing Laboratories under the Integrated Assessment Programme. The framework enables mobile laboratories to provide reliable, quality-assured and internationally benchmarked food-testing services closer to communities, extending accredited testing beyond conventional laboratory settings. It is intended to strengthen food-safety surveillance, improve access to quality testing, support faster regulatory intervention and enhance consumer confidence. Coordinated assessments, regulatory harmonisation and mutual recognition are also intended to reduce duplication and improve regulatory efficiency while maintaining quality and compliance standards.
August 11, 2026
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Digital public procurement will expand AI-led price intelligence, marketplace integrity, inclusive access, credit linkages and sustainable purchasing.
Government e-Marketplace is advancing an AI-enabled public procurement ecosystem focused on efficiency, transparency, competition, price intelligence and marketplace integrity. Priorities include last-mile access through Suvidha Kendras, integration of public entities, credit linkages, sustainable procurement and university outreach. A nationwide five-digit Helpdesk short code, 14550, mapped to existing infrastructure, is intended to maintain service continuity and improve access to support and official communications. The platform seeks to provide enterprises with a more accessible and predictable procurement market and buyers with a data-driven procurement experience.
August 11, 2026
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Expedited flood insurance claims require insurers and partners to simplify documentation and provide immediate service to affected policyholders.
Expedited insurance-claim handling for flood-affected policyholders in Assam is being pursued through simplified documentation, prompt settlement and immediate service response. PolicyBazaar is coordinating with insurer partners to reduce processing delays. The Insurance Regulatory and Development Authority of India has directed insurers, including life insurers and standalone health insurers, to mobilise resources for immediate assistance, alongside governmental efforts for expeditious and hassle-free claim disposal.
August 11, 2026
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Money laundering investigation in alleged liquor scam leads to arrest and proposed custodial-remand proceedings under anti-money-laundering law.
Money laundering investigation concerning an alleged liquor scam in Chhattisgarh led to the arrest of Congress leader Ramgopal Agrawal under the Prevention of Money Laundering Act. Custodial remand is to be sought for interrogation. The allegations concern an alleged syndicate that purportedly controlled the state excise department, enabled illegal liquor sales and distributed resulting commissions. Chargesheets name political figures, excise officials and officials associated with the Chief Minister's Office.

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Corp. Laws, SEBI & IBC

Prime Minister’s key note address at Invest India Confernce in Canada

October 9, 2020

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My dear friends, Namaste!

First of all, I would like to compliment Shri Prem Watsa for creating this forum. It is good to see so many investors and businesses of Canada here. I am glad you are being exposed of the tremendous  investment and business opportunities in India.

Friends,  there is one thing common to most people in the audience. It has people who take investment decisions. Decisions which assess risk. Decisions which predict return while making investment.

I want to ask you: What do you think about before investing in a country? Does the country have a vibrant democracy? Does the country have political stability? Does the country have investment and business friendly policies? Does the country have transparency  in governance? Does the country have a skilled talent pool? Does the country have a large market? These are different questions, you may be asking.

The undisputed answer to all these questions is one:and that is India.

There is an opportunity for everyone- Institutional Investors, manufacturers, supporters of innovation ecosystems and infrastructure companies.There is an opportunity to invest, to set up units and to run businesses.There is an opportunity to partner with our private sector and with the governments.There is an opportunity to earn as well as learn, not only that as well as to lead, there is an opportunity to grow.

Friends, In the post-Covid world, you will often hear of various kinds of problems -Problems of manufacturing, problems of supply chains, problems of PPE, etc.  Problems are natural.

However, India has not let those problems be. We showed resilience and emerged as a land of solutions.

We provided free food grain to 800 million people and free cooking gas to around 80 million families- and for a long time. Despite disrupted logistics, we were able to deliver money directly into bank accounts of more than 400 million farmers, women, poor and needy people within a matter of days.

This shows the strength of governance structures and systems that we have built over the last few years.

Friends, India is playing the role of the pharmacy to the world. We have provided medicine to around 150 countries so far during this pandemic.

During March-June of this year, our agricultural exports rose by 23%.This happened while the entire country was in a stringent lockdown.

Today, our manufacturing is running on full steam. Before the pandemic India hardly manufactured PPE kits. Today not only does India manufacture millions of PPE kits every month, it also exports them.

We are also committed to ramping up production. We want to help the entire world when it comes to vaccine production for Covid-19.

Friends, The India story is strong today and stronger tomorrow. Let me explain how.

Today, the FDI regime has been very well liberalized. We have created a friendly tax regime for Sovereign Wealth and Pension Funds.

We have undertaken significant reforms for developing a robust Bond market. We have come up with Incentive schemes for Champion sectors.

Schemes in sectors like in Pharma, Medical Devices and Electronics Manufacturing have already been in operation. We want to ensure high-level attention and effective hand-holding for investors. For this, a dedicated Empowered Group of Secretaries has been made.

We are proactively monetizing assets across sectors- Airports, Railways, Highways, Power Transmission lines, etc. Real Estate Investment Trusts and Infrastructure Investment Trusts have been fully enabled for monetization of both public and private assets

Friends, Today, India is undergoing a rapid change in mindsets as well as markets. Today, India has embarked on a journey of deregulation and decriminalization of various offences under the companies act.

India has risen from 81 to 48 in the Global Innovation Index rankings in the last 5 years. India has risen 142 to 63 in the World Bank’s Ease of Doing Business rankings in the last 5 years. The results of these improvements are there for everyone to see. India received around 70 Billion USD from Institutional Investors in a year and a half between January 2019 to July 2020. This is almost equal to that received in four years between 2013 and 2017.The continuing confidence of global investor community in India is seen by the fact that FDI into India went up by 20% in 2019 and, this when global FDI inflows fell by 1%.

India has already received over 20 Billion USD during the first 6 months of this year from across the globe. This is also the time when Covid-19 has been at peak globally.

The International Financial Services Centre (IFSC) at GIFT City is one of our major initiatives. Investors could utilize it as a preferred platform to transact globally. We have recently set-up a fully empowered unified regulator for it.

Friends, India has adopted a unique approach posed by the Covid-19 pandemic.

We have given relief and stimulus package for the poor and the small businesses. But we have also used this opportunity to undertake structural reforms. These reforms ensure more productivity and prosperity

India has undertaken a trinity of reforms in the field of education, labour and agriculture. Together, they impact almost every Indian.

India has ensured reforms of old laws in the field of labour and agriculture. They ensure greater participation of the private sector while also strengthening the government’s safety nets.

These reforms will lead to a win-win situation for entrepreneurs as well as for our hard-working people.The reforms in the field of education will further harness the talent of our youth. These reforms have also set the stage for more foreign universities to be able to come to India.

The reforms in the labour laws greatly reduce the number of labour codes. They are both employee and employer friendly and will further increase ease of doing business.

The reforms in the field of agriculture are far-reaching. They will not only give more choice to farmers but will boost exports.

These reforms will support our efforts to build an Aatmanirbhar Bharat or self-reliant India.By working towards self-reliance we seek to contribute to global good and prosperity.

Friends,

If you are looking to partner in the field of education, the place to be is India.

If you are looking to invest in manufacturing or services, the place to be is India.

If you are looking to collaborate in the field of agriculture, the place to be is India.

Friends,

India-Canada bilateral ties are driven by our shared democratic values and many common interests. The trade and investment linkages between us are integral to our multi-faceted relationship.

Canada is the 20th largest foreign investor in India. More than 600 Canadian companies have presence in India. I am told that Canadian Pension Funds have pledged around 50 billion USD as investment in India till now.

Our relationship is perhaps far stronger than what the numbers suggest. But that also means together, we can achieve much more.

Canada is home to some of the largest and most experienced infrastructure investors. Canadian Pension Funds were the first ones to start investing directly in India. Many of them have already discovered great opportunities in a range of areas like highways, airports, logistics, telecom and real estate. They are looking at expanding their presence and finding new areas to invest. Mature Canadian investors who have been in India for many years now can be our best brand ambassadors.

Their own experience, their plan to expand and diversify can be the most credible evidence for all of you to come here too. In addition, you have the benefit of knowing India well. After all, Canada has one of the largest Indian Diasporas in the world. There would be no barriers for you here. You would find yourself as welcome here as in your own country.

Thank you for inviting me to address this event. Thank you once again.

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Acts Income Tax