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    Commerce Secretary Shri Rajesh Agrawal Co-Chairs India-Brazil 8th Trade Monitoring Mechanism Meeting
    NPCI International and Uzbekistan’s NIPC Partner to Enable UPI Payments Across Uzbekistan via UZQR
    Flymore Aviation Expands Access to Aviation Education Through Affordable Mobile Learning App
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August 31, 2026
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Trade facilitation and pharmaceutical market access advance through regulatory cooperation, preferential trade modernisation, and reciprocal agricultural access.
India and Brazil are advancing bilateral trade, investment and economic cooperation through a diversified partnership focused on pharmaceuticals, chemicals, engineering goods and machinery. India-MERCOSUR engagement is being pursued through early finalisation of Terms of Reference for expansion and modernisation of the Preferential Trade Agreement. Pharmaceutical market access is supported by regulatory cooperation under the CDSCO-ANVISA MoU. Agricultural trade facilitation includes phytosanitary processes, reciprocal market access work and mutual recognition of Electronic Certificates of Origin, alongside multilateral coordination through BRICS, the G20 and the WTO.
August 31, 2026
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Cross-border UPI merchant acceptance enables Indian travellers to make UZQR payments at merchants throughout Uzbekistan.
Cross-border UPI merchant acceptance in Uzbekistan allows Indian travellers to make instant person-to-merchant payments through UPI-enabled applications by scanning the interoperable UZQR code. Integration with the Unified National QR infrastructure extends acceptance across retail, hospitality and service merchants. Regulatory approvals support HUMO's role as NIPL's authorised partner for cross-border merchant acceptance, reducing reliance on international cards and cash.
August 31, 2026
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Mobile-first aviation education supports accessible, self-paced certification-led learning and career awareness across aviation roles and geographic locations.
Flymore Aviation LLP operates a mobile-first aviation learning platform intended to make specialised aviation education more accessible and affordable for aspiring pilots, cabin crew and other aviation-sector professionals. The app provides structured, self-paced aviation courses aimed at building industry knowledge, supporting certification-led skill development, improving career awareness and assisting employment readiness across aviation functions. Course delivery through a digital platform is positioned as an alternative to location-dependent and high-cost classroom training.
August 31, 2026
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Indigenous defence technology and exports anchor the annual performance review of public sector defence enterprises.
Annual performance review of 16 Defence Public Sector Undertakings is scheduled with emphasis on indigenous technology, innovation, self-reliance and enhancement of defence exports. Chairpersons and managing directors of seven specified undertakings will present dividends attributable to the Government's equity shareholding. Publications cover self-reliance, student awareness of defence technologies, and modernisation and indigenisation roadmaps. Reported performance includes growth in turnover, profit after tax and defence exports.
August 31, 2026
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Employee provident fund and gratuity dues remain protected outside the liquidation estate despite competing financial creditor claims in insolvency proceedings.
Employee provident fund and gratuity dues of former Jet Airways workmen and employees were required to be paid in full by the liquidator. The NCLAT position upheld treats statutory employee dues relating to provident fund, gratuity and pension funds as outside the liquidation estate, protecting them from competing creditor claims. Financial creditors had argued that such dues should be distributed through the liquidation estate unless dedicated funds existed at the commencement of liquidation. The underlying questions of law remain open for an appropriate case.
August 31, 2026
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Rupee exchange-rate support amid dollar strength and oil risks as foreign-currency deposit flows bolster market sentiment.
Foreign-exchange market conditions saw the rupee recover from early losses amid possible Reserve Bank of India intervention to contain significant depreciation. Higher US Treasury yields, a broader dollar rally, rising crude oil prices and geopolitical supply risks pressured the currency. The special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings mobilised foreign-exchange inflows supported by non-resident Indian participation, strengthening market sentiment.
August 31, 2026
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Financial confidence gaps persist when opaque financial journeys, dark patterns and unclear communication deter informed consumer participation.
Financial-service digitisation may expand access without ensuring consumer confidence where customers cannot understand processes, assess risks or feel secure in financial decisions. Opaque claims, redemptions, eligibility criteria and approval stages can weaken trust and discourage insurance, investment and credit participation. Hidden charges, complex documentation, forced bundling and target-driven sales practices may further impair informed choice. Greater transparency, simplified communications, real-time process visibility and AI-assisted guidance are identified as measures to reduce cognitive friction and strengthen consumer control.
August 31, 2026
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NBFC licensing enables Hyundai Capital India to begin wholesale dealer financing while preparing retail finance and risk-management infrastructure.
Hyundai Capital India has commenced financial services operations after obtaining a non-banking financial company licence from the Reserve Bank of India. Initial operations concentrate on wholesale financing for local automotive dealers. Operations are intended to expand the dealer-financing network, sales infrastructure and risk-management systems across India, supporting a subsequent phased introduction of retail financing for individual customers.
August 31, 2026
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Personal insolvency resolution approval faces criticism over low creditor recovery and alleged family-linked voting influence in the resolution process.
Personal insolvency resolution approval concerning Subhash Chandra involved a repayment plan of Rs 6.5 crore against admitted creditor claims exceeding Rs 22,000 crore. Objections were raised regarding the voting influence exercised by entities linked to the debtor's family in relation to the resolution process. Pinarayi Vijayan criticised the approval, alleging preferential treatment of powerful corporate interests.
August 31, 2026
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Foreign exchange market intervention seeks to limit rupee depreciation amid oil-price pressure, dollar strength, and capital outflows.
Foreign exchange market conditions put the rupee under depreciation pressure amid higher crude oil prices, geopolitical risks, stronger US dollar conditions, expectations of tighter US monetary policy and foreign equity outflows. RBI market intervention was reported to contain significant depreciation. Improved foreign-currency non-resident bank deposit flows and higher foreign exchange reserves supported investor sentiment and the external liquidity position.
August 31, 2026
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Psychotropic medicine diversion faces NDPS enforcement where controlled tablets allegedly travel without statutory documentation and traceability details.
Enforcement action under the Narcotic Drugs and Psychotropic Substances Act, 1985 addressed alleged inter-State diversion of psychotropic medicines transported without statutory documentation. A truck carrying Alprazolam, Tramadol, Nitrazepam and Clonazepam tablets was intercepted; the medicines and vehicle were seized and one suspect was arrested. Preliminary examination indicated erasure of identifying batch and date details and transport of region-restricted medicines without invoices, bilty or e-way bills. Investigation concerns the manufacturing, supply and distribution network involved.
August 31, 2026
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Synthetic-drug trafficking enforcement targets rail-borne amphetamine and MDMA consignments through baggage interceptions, seizures, follow-up delivery operations, and arrests.
Synthetic-drug trafficking enforcement involved two intelligence-led railway-station operations targeting amphetamine and MDMA transportation and receipt. Baggage intercepted at Bengaluru contained a crystalline substance preliminarily indicating amphetamine, while a separate Pune interception recovered substances purported to be amphetamine and MDMA tablets. The contraband and related packing material were seized under the Narcotic Drugs and Psychotropic Substances Act, 1985. Follow-up delivery action identified alleged receivers, and the carriers and alleged receivers were arrested under that statutory framework.
August 31, 2026
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India-Chile CEPA negotiations seek a balanced framework to expand trade, investment, technology cooperation and resilient supply chains.
India-Chile CEPA negotiations are being advanced toward conclusion by the end of the year through a balanced and commercially meaningful framework. The proposed partnership is intended to strengthen bilateral economic ties, expand trade and investment, and create equitable opportunities for businesses and people in both countries. Cooperation is envisaged in technology, talent and resilient supply chains, alongside enhanced engagement in healthcare, pharmaceuticals, energy, minerals, agriculture, machinery and engineering.
August 30, 2026
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Sugar price controls face persistent retail and wholesale price firmness despite duty-free imports, stockholding restrictions, and export prohibition.
Sugar retail and wholesale prices remained elevated despite measures intended to curb price increases, including duty-free imports of raw sugar, tighter stockholding norms for bulk users and dealers, and a prohibition on sugar exports. Ex-mill rates declined following the permitted duty-free imports, although customary margins continued between ex-mill, wholesale, and retail prices. Projected sugar production is lower than earlier estimates, while annual domestic demand remains substantial.
August 30, 2026
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Aadhaar OTP verification expands online vehicle and licensing services, reducing physical visits and curbing intermediary exploitation.
Aadhaar-based OTP verification will be extended to additional vehicle- and driving-licence-related services through the Vahan and Sarathi portals. The digital arrangement is intended to reduce physical visits to transport offices, prevent intermediary exploitation arising from delayed processing, and enable applications to be processed on a first-come, first-served basis. Physical attendance will remain necessary for vehicle inspections, identification of legal heirs, personal hearings, and authentication where Aadhaar OTP verification fails.
August 30, 2026
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Related-party creditor voting in personal insolvency turned on whether the debtor held majority ownership or direct board control.
Dissenting lenders challenged the admission and voting rights of five creditors alleged to be family-linked associate or related entities, contending that their voting share enabled approval of a personal insolvency repayment plan. They alleged invalid post-moratorium guarantee invocations, undisclosed liabilities, inadequate claim scrutiny and incorrect voting-share computation. The third member rejected the voting-rights challenge, treating associate status as requiring the debtor's personal majority shareholding or direct board control, and accepted the repayment plan.
August 30, 2026
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Examination continuity and candidate fairness require re-examination where power failures prevent completion, alongside review of infrastructure accountability.
NEET-PG 2026 examination continuity was disrupted for candidates at two Jaipur centres because of internal power-supply failures attributable to the technological partner and examination-conducting agency. A re-examination has been scheduled for the affected candidates, with the venue and revised admit cards to be communicated separately. Action against the entities responsible for ensuring adequate examination infrastructure is under consideration.
August 30, 2026
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Women's monthly assistance eligibility restricts benefits to qualifying households and channels payments through deposits or restricted digital wallets.
Delhi Lakshmi Yojana provides monthly financial assistance to eligible women through recurring deposits and restricted Central Bank Digital Currency wallets. Recurring deposits are locked until July 31, 2029, subject to possible review of the maturity period after two years from launch. Eligibility requires a qualifying woman to be the eldest female family member, meet income, residence and voter-registration requirements, and satisfy household restrictions. Income-tax payers, GST filers, government employees, higher-electricity-consuming households and four-wheeler-owning households are excluded.
August 30, 2026
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Gasoline trade amid refinery disruptions relies on sanctioned fleets and dark ship-to-ship transfers, alongside continuing fuel export restrictions.
Russian refinery disruption has increased gasoline imports and made India a significant supplier of gasoline to Russia. Indian supplies were principally linked to the Vadinar refinery, and increased Indian purchases of Russian crude may mean exported gasoline was produced from Russian crude. Russia has retained a gasoline export ban while domestic production remains disrupted. India-origin cargoes imported during August were carried on sanctioned fleets and involved dark ship-to-ship transfers, including transfers conducted with automatic identification system signals switched off.
August 30, 2026
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Digital arrest fraud: judicial responses seek a distinct offence while preserving due process and proportionality in economic-crime enforcement.
Suo motu consideration of digital-arrest fraud reflects a proactive judicial response to video-call scams involving impersonation of police, judicial officials or bureaucrats. The Union and the States have been directed to assess the problem, with a call for a distinct offence carrying proportionate penalties. Economic-crime enforcement remains subject to safeguards requiring written grounds of arrest and preventing pre-trial detention from becoming punishment. Due process, proportionality and the presumption of innocence remain central constraints.

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Customs, DGFT & SEZ

Intervention by Commerce & Industry Minister Shri PiyushGoyalat the G-33 Ministerial Meeting at the 12th WTO Ministerial Conference held in Geneva

June 13, 2022

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Thank you very much Chairperson. Ministers, Excellencies, Distinguished delegates, Ladies and Gentlemen. I would like to thank Indonesia for organising the G-33 meeting at the very start of the MC-12 giving us an opportunity to renew our solidarity. It is clear that the two items primarily on the agenda this time will look upon a solution to public stockholding, and the special safeguard mechanism that many of the earlier speakers before me have spoken about.

At the outset, I would like to say that it would have been better if the Director General was also present to hear the concerns of the developing world and I feel it is unfortunate that in her brief comments she referred to a decision that has been made not once, not twice but thrice, as a mere iteration and I would urge the Chair to convey if it is agreed by all my friends here, that it was not a declaration but a decision that was made in 2013, again in 2015 and then again in 2018 that we are sitting down here to discuss.

India has had an experience to transit a food deficit nation to a largely self sufficient food nation. In our state support in the form of subsidies and other Government interventions played a very important role to achieve this sufficiency. We are fighting for all the developing countries including the LDCs collectively based on our own journey, our own experience.

Let us look at the story so far. It starts from the Uruguay round where to my mind,  after 8 years of negotiations right up till 1994 when the Marrakesh agreement was finally decided and led to the establishment of the WTO. Agriculture got a raw deal- imbalanced outcomes and those who were distorting markets by granting import subsidies secured to continue to grant export subsidies under the Agreement on Agriculture (AOA). At that time many of us, rather most of us being less developed or least developing countries were not giving out subsidies, so therefore since we were not giving subsidies in the base period, we lost our right to grant significant subsidies in the future. Further, the rules of agreement largely suited the developed countries socio-economic architecture, higher entitlement of subsidies for the developed world were institutionalised and the very formula for calculation of market price support was quite flawed and frozen at that point of time. 

Developing countries including the LDCs are always at the receiving end, we are made to compromise, sometimes debate multiple times on the same subject and also times where there's already been agreed is reopened leading to backsliding of earlier mandates, and I will explain what I mean by that. In the Ministerial Conference of 11th December 2013, it was decided and I repeatedly decided that the members agree to put in place an interim mechanism, to negotiate on an agreement for a permanent solution for adoption by the 11th Ministerial Conference. The process had been fixed and we agreed on this, in lieu of the agreement on trade facilitation which the developed world was very keen to adopt.

I am reading out from this declaration, I believe it was an important element in para 8 of work program, there is a para 8 which says and I quote “Members agree to establish a work program to be undertaken in the committee on agriculture to pursue this issue with the aim of making recommendations for a permanent solution, para 9 says “Members commit to the work program with the aim of concluding it no later than the 11th Ministerial Conference” and para 10 “The general council shall report to the 10th Ministerial Conference… the progress made on the work program.”  I am reminding you this because what is sought to be done at this conference, the Ministerial Conference 13 is to rewrite that same script.

On 28th November 2014, the General Council has reiterated the decision of 27th November 2014 on public stockholding security purposes and then it states recognising the importance of public stockholding of food security purposes for developing countries, besides that again it was a decision until a permanent solution is agreed and adopted … in pursuance of public stockholding programmes in security proposies, it was decided and what we call peace clause till the permanent solution is finalised will continue.  Again they had said if a permanent solution is not approved and adopted in the 11th Ministerial conference the mechanism referred to in para 1 shall continue to be in place until a permanent solution is agreed and adopted and for which again they say, the negotiations  for the permanent solution on the issue of public stockholding for food security purposes shall be pursued on priority, this is 2014. Also, they said the negotiation on this subject shall be held in the committee on Agriculture in a special session in dedicated session and accelerated time period, distinct from the agricultural negotiations under the Doha Development Agenda.

Again, while reporting in 2015 to the Ministerial Conference in tenth session,  they took note of progress made so far and decided that they reaffirm the General council decision of 2014 members shall engage constructively to negotiate and make all concerted efforts to agree and adopt developments made. Why I am saying all this is what is the logic of saying that there will be a fresh work program and that there will be a ministerial declaration in MC12. It is already out there, it is already an ongoing process. Is it a point to restart the negotiations from scratch and bringing it at par with all the different subjects which are at different stages of negotiations as sought to be finalised today, is it being done to try and fish us out on an agreement in fisheries by offering a work program. I still think we all need to reflect on what was decided should be pursued and included this time or whether it should once again be agreed for a work program and taking us back to square one, eight years or nine years after the initial agreement. 

Friends, India and all of us in this G33 group of members have long been calling for accessible and effective Special Safeguard Mechanism (SSM) in order to address the destabilizing and crippling effects of import surges and downward price movement largely due to huge subsidies by the developed members. They already have an aggregate measure of support entitlement which is quite large since there was already huge subsidies which were kept at a standstill many years almost 5 years ago. This is so, more particularly in the wake of volatility of the prices observed post pandemic an outcome remains for many members an important element of the agricultural package.

Similarly, you will agree with me that the Agreement on Agriculture which is already riddled with deep imbalances favour the developed countries which have created the rules against many developing countries and that is quite evident from what is happening in the world’s part.

It is important that as a first step of agricultural reform the historical asymmetries  and imbalances must be corrected in order to ensure a rule based fair and equitable order. We must level the playing field and give our farmers a chance to provide security to our people. We must continue to preserve the existing S&DT for the developing countries which will help our struggling farmers particularly those who are keeping out the subsistence living. The flexibilities provided under the development clauses under Article 6.2 of the Agreement on Agriculture should not be touched in the name of domestic support reform. 

In conclusion, let me stress that all of us must work collectively to retain the cohesion of this coalition and strengthen it further by reaching out to other like minded countries, secure their support for a fair, balanced and development centric outcome, which must include the permanent solution to public stockholding and the Special Safeguard Mechanism (SSM). 

Thank you for your attention, Ladies and Gentlemen and Chair. But, I wanted to bring back the entire historical perspective so that each one of us back to our leadership and takes a more stronger to be able to achieve the decided outcomes.

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