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    DFS Highlights Mechanism for Timely Redressal of Insurance Policyholders’ Grievances
    Forex kitty jumps USD 14.14 bn to USD 707 bn in one of the biggest weekly expansions
    PROVISIONAL ESTIMATES OF WHOLESALE PRICE INDEX, OUTPUT PRODUCER PRICE INDEX, AND TRIAL INPUT PRODUCER PRICE INDEX FOR THE MONTH OF JULY 2026, AND FINA...
    Logistics Data Bank Tracks 10 Crore EXIM Containers, Provides Visibility across Logistics Chain
    APEDA and Government of Tripura Organise International Organic Buyer-Seller Meet to Expand Global Market Linkages
    WPI inflation eases to 9.78 pc in July on softening in fuel prices
    IDFC FIRST Bank secures its first international rating with Investment Grade from S&P Global Ratings
    DRI busts illegal drug manufacturing facility in Jewar, UP; 30 kg drugs seized and two persons arrested
    UCO Bank launches IFSC Banking Unit at GIFT City
    Banking sector has key role to play as India on way to become 3rd largest economy: Gujarat CM
    India's exports to US rise 12.85 pc in Jul; shipments to China jump 64.57 pc: Govt data
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    CBI ARRESTS CGST SUPERINTENDENT IN BRIBERY CASE
    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...
    Unlimit Mobile Ties Up with ICICI Bank Canada, RBC Royal Bank to Add Mobile Connectivity Benefits to Student GIC Journey
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    IFSCA Grants Nexent Capital GIFT City Investment Banking License
    India's exports rise 19.63 pc to USD 44.24 bn in Jul; trade deficit widens to $31.98 bn
    Vizhinjam port to commence EXIM operations from Aug 18: Kerala CM Satheesan
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August 14, 2026
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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.
August 14, 2026
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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.
August 14, 2026
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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.
August 14, 2026
Show AI Summary
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.
August 14, 2026
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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.
August 14, 2026
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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.
August 14, 2026
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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.
August 14, 2026
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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.
August 13, 2026
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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.
August 13, 2026
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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.
August 13, 2026
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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.
August 13, 2026
Show AI Summary
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.
August 13, 2026
Show AI Summary
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.
August 13, 2026
Show AI Summary
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.
August 13, 2026
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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.
August 13, 2026
Show AI Summary
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.
August 13, 2026
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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.
August 13, 2026
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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.
August 13, 2026
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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.
August 13, 2026
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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.

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India and United States Joint Statement on the Trade Policy Forum

November 24, 2021

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1. India and the United States held the twelfth Ministerial-level meeting of the India-United States Trade Policy Forum (TPF) in New Delhi on November 23, 2021. Indian Minister of Commerce and Industry, Shri Piyush Goyal and U.S. Trade Representative, Ambassador Katherine Tai co-chaired the TPF meeting. The Ministers convened the TPF with a view to advancing the goal, announced by President Biden and Prime Minister Modi at their September 24, 2021 meeting, to “develop an ambitious, shared vision for the future of the trade relationship.”  As India and the United States look ahead to define that ambitious future, the Ministers recognized the importance of engaging in collaborative discussion on the full range of existing and emerging issues affecting our trade relationship.

2.  The Ministers underlined the significance of the TPF in forging robust bilateral trade ties and enhancing the bilateral economic relationship to benefit working people in both countries. They agreed that reconvening the TPF and regular engagement under the forum would help in addressing outstanding bilateral trade concerns and allow the two countries to explore important, emerging trade policy issues. They agreed that the TPF Working Groups on agriculture, non-agriculture goods, services, investment, and intellectual property should be re-activated in order to address issues of mutual concern on an ongoing basis.

3. The Ministers expressed satisfaction over the robust rebound in bilateral merchandise trade this year 2021 (January – September 2021), which showed almost 50 percent growth over the same period in the previous year; bilateral merchandise trade in the current year is poised to surpass US$ 100 billion mark. The Ministers also appreciated the importance of two-way services trade and foreign direct investment (FDI) as contributors to deeper economic and trade ties and noted buoyancy in bilateral FDI investments in recent months.

4. Ambassador Tai expressed her appreciation for a number of important economic reforms recently initiated by India, such as liberalization of FDI in the insurance sector, elimination of a retrospective provision in income tax, and launching of the “Single Window System” for facilitating investment. These reforms have enabled improvements in the business ecosystem and Ambassador Tai encouraged the continuation of market-oriented reforms implemented through transparent means. The Ministers underlined the importance of establishing a conducive environment for further integrating the two economies to the benefit of both sides.

5.  The Ministers underlined the importance of the India-U.S. trade and economic partnership in addressing global challenges. They agreed to work collaboratively and constructively in relevant multilateral trade bodies including the WTO, the G20, and the OECD both for enhancing the bilateral trade relationship and for achieving a shared vision of a transparent, rules-based global trading system among market economies and democracies.

6. The Ministers acknowledged the significance of creating resilient and secure supply chains. In this context, they agreed that India and the United States could, together with like-minded partners, take a leading role in developing secure supply chains in critical sectors of trade and technology. Acknowledging the strong history of collaboration between India and United States in the field of health, the Ministers identified this sector as bearing particular importance in the context of work on resilient supply chains. India also noted its interest in partnering with the U.S. and allies in developing a secure pharmaceutical manufacturing base for augmenting global supply chains.

7. The Ministers also shared perspectives on the importance of health-related goods and services in U.S.-India trade relations and pledged to pursue constructive dialogue on a range of regulatory issues affecting trade in health-related products. In this regard, the United States acknowledged India’s concerns regarding delays, arising from the COVID-19 pandemic, in U.S. regulatory inspections of Indian pharmaceutical facilities. The U.S. Food and Drug Administration (FDA) continues to evaluate COVID-19 conditions and is conducting prioritized inspections when there is minimal risk to company and FDA officials. FDA will also continue to utilize remote evaluation techniques for regulatory decisions as appropriate.

8. The Ministers agreed on the importance of critical and emerging technologies in delivering economic growth and achieving shared strategic priorities, and took note of the work underway on these issues within the Quad framework. They discussed the importance of regular sharing of perspectives on issues, including cyberspace, semiconductors, AI, 5G, 6G and future generation telecommunications technology. They welcomed the participation and collaboration of the private sector in both countries in building stronger linkages in these critical sectors, and supporting resilient and secure global supply chains.

Progress on Bilateral Trade Concerns

9.During the course of the TPF held on November 23, 2021, the Ministers reviewed the developments across the canvass of bilateral trade issues and agreed to highlight the following outcomes and future priorities.

10.The Ministers acknowledged the tangible benefits accruing to Indian and U.S. farmers and businesses, by mutually resolving certain outstanding market access issues through increased bilateral engagement. Both sides also agreed to continue working to expand bilateral trade in agricultural and food products through the TPF Working Group on Agricultural Goods and committed to holding technical dialogues on animal health, plant health, and food safety and other technical issues in 2022.

11. The Ministers welcomed the agreement to finalize work on market access facilitation for mangoes and pomegranates, pomegranate arils from India, and cherries and alfalfa hay for animal feed from the United States. The United States intends to finalize the transfer of the preclearance programme/regulatory oversight of irradiation for mangoes and pomegranate to Indian authorities as soon as is practicable. The United States and India also look forward to signing the Systems Approach Operational Work Plan for the export of pomegranate arils from India to the United States. India intends to finalize phyto-sanitary work to allow the importation of U.S. cherries, and India intends to finalize the phyto-sanitary certification which will allow the importation of U.S. alfalfa hay for animal feed into India. In addition, the U.S. agreed to work to complete India’s request for table grapes access to the United States, and India agreed to work to finalize the mutually agreed export certificate to allow the importation of U.S. pork and pork products.

12.  The U.S. side welcomed the extension in time notified by India for accepting certain test results from ILAC accredited labs under the Mandatory Testing and Certification of Telecom Equipment (MTCTE) policy, and both sides agreed on the importance of providing sufficient time for industry to adapt to future testing requirements. The U.S. also appreciated the extension in time notified by India regarding implementation of Polythene Material for molding and extrusion (Quality Control) Order, 2021 and to consider consultation with industry to discuss labeling arrangements that satisfy the measure’s objectives.

13.  The Ministers welcomed the enhanced engagement on intellectual property (IP)and recognized that the protection and enforcement of IP contributes to the promotion of innovation as well as bilateral trade and investment in IP-intensive industries. They appreciated the work of the TPF IP Working Group and reviewed its progress in copyrights, patents, trademarks, and sharing of national experiences regarding traditional knowledge and genetic resources. The United States welcomed India’s clarifying the administration of its patent regime, including on disclosure requirements, treatment of confidential information, patent application oppositions, as well as supporting evidence for well-known trademark applications. Both the United States and India welcomed each other’s commitment to comply with the World Intellectual Property Organization Copyright Treaty and World Intellectual Property Organization Performance and Phonogram Treaty.

Areas for Future Work

14.  The Ministers expressed an intent to continue to work together on resolving outstanding trade issues as some of these require additional engagement in order to reach convergence in the near future. They agreed further to utilize the revitalized TPF and its Working Groups as a means of rapidly engaging on new trade concerns as they arise, and that they would take stock at quarterly intervals to evaluate progress in this regard.

15. The Ministers reviewed their particular interests for achieving progress in the area of market access. In this regard, India highlighted its interest in restoration of its beneficiary status under the U.S. Generalized System of Preferences program; the United States noted that this could be considered, as warranted, in relation to the eligibility criteria determined by the U.S. Congress. The United States and India also exchanged views on potential targeted tariff reductions.

16.  The Ministers agreed to follow up on exploring the possibility of enhanced market access for additional identified agricultural products. They also agreed to engage on U.S. concerns regarding regulatory approvals for the Distillers’ Dried Grains with Solubles, and India’s concerns regarding market access for water buffalo meat and restoration of market access for wild caught shrimp.

17. The US side acknowledged the work being done by the Indian side to strike a balance between access to medical devices at affordable rates and the availability of cutting edge medical technology. In this regard, the United States welcomed the recent application of the Trade Margin Rationalization (TMR) approach for price regulation on certain medical device products and India noted that wider application of TMR for other medical devices is under consideration by the relevant authorities.

18. The United States noted its support for India’s ambitious goal of reaching 20 percent ethanol blending with petrol by 2025 and expressed an interest in supplying ethanol to India for fuel purposes. The Ministers agreed to explore ways for enhancing collaboration for the implementation of their respective ethanol blending programs.

19. The Ministers highlighted the important role of the services sector, including digital services, in India and the United States, and the significant potential for increasing bilateral services trade and investment. They noted that the movement of professional and skilled workers, students, investors and business travelers between their countries contributes immensely to enhancing bilateral economic and technological partnership. In this respect, the Indian side welcomed the recent U.S. decision to allow travel to the United States by fully vaccinated Indians. The United States and India decided to continue their engagement on visa issues, and their shared resolve to facilitate the movement of professionals, skilled workers, experts, and scientific personnel. The Ministers acknowledged the ongoing discussions on a Social Security Totalization Agreement and welcomed further engagement on pursuing such an agreement.

20. The Ministers recognized that legal, nursing and accountancy services can facilitate growth in trade and investment, and they agreed to continue discussion on promoting engagement in these sectors. They discussed the importance of electronic payment services as a catalyst to the further expansion of the bilateral trade relationship, and both sides agreed to continue engagement in this area.

21. The Ministers exchanged views on harnessing the vast potential of digital trade to spur economic growth and innovation, and committed to work together to build common understanding, and increase engagement both bilaterally, including in the TPF and ICT Working Group, and in relevant multilateral for a, including the G20 and WTO. They pledged to deepen bilateral engagement to promote the digital economy, and to explore the adoption of joint principles that ensure that the internet remains open for free exchange of ideas, goods, and services.

22. The Ministers agreed to further engage to find mutually agreed solutions on outstanding WTO disputes between the two countries.

Engagement on Emerging Issues

23.  The Ministers also exchanged information on the relationship between trade and labour emphasizing the importance of trade in creating employment and opportunities for working population. The Ministers shared perspectives on the role of trade in improving the welfare of working people in India and the United States. The Ministers also agreed to work together on issues of child labour and forced labour in global supply chains in order to promote resilience and sustainability.

24. The Ministers shared perspectives on the relationship between trade and environment matters and exchanged views on approaches to increase the utilization of renewable energy and other clean technologies to achieve net-zero emissions, including by aiming to mobilize finance and scale innovative clean technologies as agreed in the India – US Climate and Clean Energy Agenda 2030 Partnership.

25. The Ministers agreed to exchange information on standards and conformity assessment procedures to ensure that requirements are no more trade restrictive than necessary and are in line with international agreements.  They also noted the importance of transparency in the rulemaking process and agreed to explore ways to enhance good regulatory practices.

26. The Ministers also agreed to relaunch workshops focused on accelerating implementation of the WTO Trade Facilitation Agreement.

27. The Ministers concluded by underlining the importance of integrating the two economies across sectors to harness the untapped potential of the relationship. They agreed that the TPF should seek to continually deliver concrete outcomes to generate mutual confidence. Such an approach would contribute to a more ambitious future for the bilateral trade and economic relationship and take it to the next level so that both countries could benefit from the inherent complementarities in the two economies. This would lead to economic prosperity, employment generation and improvement in livelihood in both the countries.  In this connection, they directed the TPF Working Groups to develop, by March 2022, plans of action for making substantive progress. They further directed their senior officials to remain in regular contact to review the activity of the Working Groups and identify a set of specific trade outcomes that could be finalized for an inter-sessional TPF meeting to be held by mid-2022.

28. The Ministers agreed to remain engaged to give greater energy to the TPF’s work and to reconvene the TPF at the Ministerial level before the end of 2022.

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DJN

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