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    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
    Gross GST collection kitty swells 15.4 pc to over Rs 2.11 lakh cr in July
    RBI says USD 40.82 bn mobilised under forex swap facility till Jul 31
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    PM Modi to inaugurate Bhogapuram Airport in Andhra on Aug 1
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    Closely monitoring: India on US bill seeking up to 100 % tariffs on purchasers of Russian oil
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    Rupee appreciates 7 paise to close at 95.43 against US dollar
    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
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    PM Modi speaks to UK counterpart Burnham
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    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
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    August 1, 2026
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    GST collection growth in West Bengal continued year-on-year in July but remained below the national growth trend.
    West Bengal's July GST collection increased year-on-year and over the preceding month, marking a second consecutive month of annual growth. Official data also indicated that the State's annual growth rate was below the national trend, while gross domestic GST revenue excluding imports and overall gross GST collections including import-related taxes rose nationally during July.
    August 1, 2026
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    GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
    Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
    August 1, 2026
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    Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
    The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
    August 1, 2026
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    Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
    Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.
    August 1, 2026
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    Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
    Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.
    August 1, 2026
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    Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
    Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
    July 31, 2026
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    Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
    Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
    July 31, 2026
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    Greenfield airport development under a public-private partnership advances licensed international passenger, cargo, logistics, and sustainable infrastructure.
    A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.
    July 31, 2026
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    Regulatory and legal developments cover trade measures, legislative action, offshore exploration support, court directions and platform algorithm scrutiny.
    The compilation reports proposed United States tariff measures concerning purchasers of Russian oil and gas, India-United Kingdom trade engagement, extension of farmer-support measures, and approval of offshore exploration support. It also covers passage of the Registration of Births and Deaths (Amendment) Bill, 2026, a privilege-motion notice, a criminal sentencing, and directions to appoint a nodal officer for families affected by the Russia-Ukraine war. Regulatory items include industrial credit data and examination of social-media algorithms, bias and public-order implications.
    July 31, 2026
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    Russian oil purchases may trigger proposed targeted tariffs, with periodic reassessment based on countries' purchasing behaviour.
    Proposed United States measures would authorise sanctions against Russia and persons supporting its war in Ukraine, while permitting targeted tariffs on imports from countries purchasing substantial volumes of Russian oil or gas or facilitating sanctions evasion. The framework identifies major purchasers and shadow-fleet facilitators for possible additional tariffs and provides for periodic reassessment and tariff adjustments based on purchasing behaviour. India stated that its energy-security policy rests on national priorities and diversified energy sources.
    July 31, 2026
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    Money-laundering proceedings face challenge over absent predicate offence, alleged lack of criminal intent, and treatment of related FIRs.
    Money-laundering proceedings linked to alleged diversion of homebuyer funds are challenged on the ground that no scheduled offence or criminal intent is attributable to the petitioner. The petitioner relies on his asserted exoneration in two predicate FIRs, where charge sheets did not name him, and settlement of the remaining FIR. Notice was issued for a response and status report, and the petitioner undertook to cooperate with the investigation.
    July 31, 2026
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    Rupee appreciation reflected foreign capital inflows and central bank support, tempered by crude prices and geopolitical tensions.
    Rupee appreciation against the US dollar was linked to sustained foreign capital inflows and Reserve Bank support through dollar selling. Higher crude oil prices, a stronger US dollar and geopolitical tensions in West Asia constrained further gains. A slightly positive near-term rupee bias was associated with softer dollar conditions, dovish US monetary expectations, favourable global markets and improved foreign inflows, while geopolitical risks remained relevant. Domestic equity indices rose, foreign-exchange reserves increased, and fiscal-deficit data showed the central government's position against its full-year target.
    July 31, 2026
    Show AI Summary
    India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
    The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
    July 31, 2026
    Show AI Summary
    Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
    Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.
    July 31, 2026
    Show AI Summary
    One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
    The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
    July 31, 2026
    Show AI Summary
    Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
    The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
    July 31, 2026
    Show AI Summary
    Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
    Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
    July 31, 2026
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    Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
    Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
    July 31, 2026
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    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    July 31, 2026
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    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.

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      Customs, DGFT & SEZ

      APEDA organizes International Buyer Seller Meet at Leh for boosting export of Apricots and other agri products of UT of Ladakh.

      June 14, 2022

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      APEDA organizes International Buyer Seller Meet at Leh for boosting export of Apricots and other agri products of UT of Ladakh.

      Farmers, entrepreneurs from Ladakh and global buyers from USA, Bangladesh, Oman and United Arab Emirates participated in the day long meet

      In a move aimed at realizing Hon’ble Prime Minister Narendra Modi’s vision of ‘Vocal for Local’ with an emphasis on ‘Aatmanirbhar Bharat’, Agricultural and Processed Food Products Export Development Authority (APEDA) in collaboration with Union Territory of Ladakh today organized an International Buyer Seller Meet (IBSM).

      IBSM aimed at boosting exprots of Apricots and other agri products from Ladakh.

      Eighteen entrepreneurs from UTs of Ladakh and Jammu and Kashmir displayed a range of Apricots and other Agri Products. Twenty buyers from India, USA, Bangladesh, Oman, Dubai participated in this event. 

      More than 30 producers of Ladakh Apricots and other agro products and stakeholders from UTs of Ladakh and Jammu and Kashmir participated to interact with the importers and exporters providing platform to growers, entrepreneurs from UTs of Ladakh and Jammu and Kashmir to display their products and facilitate B2B interactions. 

      Leh Ladakh is endowed with conducive climatic conditions for the production of a large number of Apricots and other Agri Products.  The farmers and entrepreneurs of UTs of Ladakh and Jammu and Kashmir need exposure to the international trade opportunities with specific reference to temperate fruits such as Apricots, Walnuts, Apples, etc.

      IBSM provided an opportunity to the producers and processors of UT of Ladakh along and Jammu and Kashmir to show case their products to promote the exports as well as their wholesale and retail sale.
      Shri Radha Krishna Mathur, Hon’ble Lieutenant Governor, UT of Ladakh inaugurated the IBSM in the august presence of Shri Jamyang Tsering Namgyal, Hon’ble Member of Parliament, UT of Ladakh, Dr. M. Angamuthu, Chairman APEDA, Shri Ravinder Kumar, Secretary, Agriculture, UT of Ladakh, Shri Saugat Biswas, Secretary, Industry and Commerce, UT of Ladakh, Dr. Tarun Bajaj, Director, APEDA, Shri Moses Kunzang, Director, Industry and Commerce, UT of Ladakhand officials from APEDA and Union Territory of Ladakh. 

      APEDA, under its initiative to boost exports from Himalayan Region is encouraging States and UTs to harness their potential of agricultural produce exports. A platform will be created for the buyers to get the products directly from the producer group and the processors.

      This event is aimed to link the producers and processors of UTs of Ladakh and Jammu and Kashmir and buyers from other parts of the country as well as abroad which in turn will broaden the base of the export basket from the region, including UTs of Ladakh and Jammu and Kashmir to increase the employment opportunities thereby improving the livelihood of the people.

      APEDA organizes International Trade Fairs for participation of exporters and provides a platform to the exporters to market their food products in the global marketplace. APEDA was also given priority and was provided to participation from UTs of Ladakh and Jammu and Kashmir in the national and international events organized by it such as AAHAR, Organic World Congress, BioFach India etc. to promote agro product exports from these regions. 

      As a result the exporters and entrepreneurs from UTs of Ladakh and Jammu and Kashmir have started participation in national and international events during the recent past.

      APEDA offices are located within the premises of Directorate of Agriculture in Jammu and Srinagar Divisions, UT of Jammu and Kashmir and within Directorate of Industries and Commerce in Leh in UT of Ladakh recruiting Business Development Managers from the respective regions ensuring smooth facilitation to the stakeholders on daily basis.

      Also carrying out hand holding of officials of Directorate of Agriculture, Directorate of Horticulture, Directorate of Horticulture Planning, JKHPMC, FPOs, Cooperatives, exporters and start up entrepreneurs linking the stakeholders on aspects related to international food trade during 2021.

      Organizing sensitization of officials of Seed Certification, Directorate of Agriculture, Horticulture, Animal Husbandry, Sher-e-Kashmir University of Agricultural Sciences and Technology or their convergence into Organic Certification Agency under National Program for Organic Production (NPOP) and ISO-17065 during 2021.

      Despite pandemic situation and travel restrictions, Geographical Indication (GI) certified products such as Kashmir Saffron from Srinagar to Lulu FMCG Dubai and other Middle Eastern markets was exported during 2021. The focus was to ensur that GI products from UT of Jammu and Kashmir are available in the international market and at the same time the producers also realize remunerative prices from the global market.

      APEDA has also signed Memorandum of Understanding (MoU) with Sher-e-Kashmir University of Agricultural Sciences and Technology on mutual areas of cooperation such as technical support and promotional activities for enhancing productivity and promotion of potential products from the region. 

      Shipment of Mishri variety Cherries was carried out from UT of Jammu and Kashmir to Dubai for the first time creating international market for Indian Cherries during 2021. The shipment was handled by local entrepreneurs from UT of Jammu and Kashmir with the established exporter from Mumbai to their counterpart in Dubai. 

      Shipment of UT of Jammu and Kashmir fragrance rice Mushkbudji and Acacia honey have been exported in 2021 by the startups/new entrepreneurs to Lulu Group Dubai, Oman and other Middle Eastern markets. Shipment of Apples from UT of Jammu and Kashmir were carried out during 2021 by the startup/new entrepreneur to Oman, Qatar, Dubai, and other Middle Eastern markets. 

      Stakeholders from UTs of Jammu and Kashmir and Ladakh are regularly participating in virtual and physical domestic and international buyer seller meets organized by APEDA and other departments to generate business enquiries. 

      Shipment of Ladakh Apricots was carried out from Leh to Dubai for the first time followed by commercial shipments of Ladakh Halman Apricot creating an international market for Indian Apricots during the month of August-September 2021. 

      Taking into consideration, the taste, texture and soothing aroma of Ladakh Apricots repeat orders were received from overseas market for the produce on a regular basis. The shipment was handled by local entrepreneurs from Kargil with the established exporter from Mumbai to their counterpart in Dubai. 

      APEDA also facilitated exports of Solar dried Apricots from Kargil to Singapore by Startup company for establishing export chain to enter into international market from UT of Ladakh products. 

      APEDA has been regularly mobilizing startups and entrepreneurs from UTs of Ladakh and Jammu and Kashmir to the national and international physical and virtual events for promotion of products from these regions to international market. 

      As a follow up of earlier visit of Chairman, APEDA to UTs of Ladakh and Jammu and Kashmir as well as meeting of Chairman, APEDA with Hon’ble L.G. UT of Ladakh during February 2022 to explore possibilities of export promotion of identified products such as Apricots, organic products and Sea buckthorn products from the region APEDA is organizing this international Buyer Seller Meet mobilizing stakeholders from around the globe for enhancing exports from the region.

      Hon’ble M.P. Ladakh Namgyal during his address mentioned that the UT of Ladakh has gone ahead with Mission Organic has just completed first phase, 34 villages have been certified. With the move of organic certification, the UT of Ladakh products will fetch higher price thereby higher returns to the producers and exporters. 

      Mathur, the Hon’ble L.G. Of Ladakh, during his address emphasized on adding more and more horticulture and agriculture products from the region e.g. Nubra valley black berries along with augmenting pre and postharvest facilities and logistics arrangements in order to enhance volume of products from the region to international market for higher returns to the producers and exporters. 

      APEDA’s efforts to facilitate exports of identified products from UTs of Ladakh and Jammu and Kashmir as well as mobilizing international buyers to the region was appreciated as it was first event of its kind in the region to boost export. There has been overwhelming response from the FPOs, producers, cooperatives, exporters and importers as well as from the UT Administration which will enable convergence of the negotiations in to the business from the region.

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