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    Pakistan seeks USD 10 bn US facility to bolster forex stability
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    Japan reports record exports, imports for July as energy costs climb
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    CCI approves acquisition of additional shareholding of Acko Technology & Services Pvt Ltd. by General Atlantic Singapore ACK Pte. Ltd
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August 20, 2026
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Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
August 20, 2026
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Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.
August 20, 2026
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Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.
August 19, 2026
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Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.
August 19, 2026
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MSME competitiveness requires affordable credit, technology adoption, formalisation, sustainable trade and stronger export-market access for inclusive growth.
MSME development is identified as central to employment generation, exports, entrepreneurship, economic resilience and self-reliance. Key priorities include affordable credit, technology upgradation, supply-chain integration, market access, brand-building and reduced red tape. Formalisation of micro industries is emphasised to expand institutional credit access, while sustainable trade is promoted through green technologies and renewable energy. Export competitiveness is to be strengthened through regional production capabilities and the "One District, One Export Hub" initiative.
August 19, 2026
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Supply-side inflation risks support a policy pause pending evidence of broad-based, persistent price pressures and de-anchored expectations.
Monetary policy calibration remained on hold because food and fuel inflation had not yet produced broad-based or persistent price pressures. The policy pause was supported by limited pass-through of supply-side shocks, contained core inflation and no clear demand-driven overheating. Recalibration depends on incoming evidence of persistent inflation, entrenched supply-side pressures, de-anchored expectations and the evolving growth-inflation dynamic. Geopolitical disruption, volatile oil prices, monsoon conditions and El Nin o-related agricultural risks remain material inflation risks.
August 19, 2026
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Examination irregularities investigation examines alleged answer-sheet cheating, managed centres and suspected solver-gang involvement by a biometric operator.
Alleged examination irregularities involved suspected cheating through the receipt of an answer sheet by an examinee from personnel of a private firm conducting the examination. Police arrested a biometric operator following an investigation into his alleged involvement. His prior work with biometric firms and manpower supply agencies was examined in connection with clues concerning allegedly managed examination centres and a suspected solver gang.
August 19, 2026
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Trade restrictions on Iran halt commercial and financial exchanges as regional security threats disrupt maritime commerce and re-export access.
UAE trade restrictions on Iran halted all trade, commercial exchanges and financial transactions until further notice following reported ballistic-missile incidents and regional security escalation. The UAE assessed the missiles as directed at maritime traffic, while Iran denied launching them. The suspension disrupts the UAE's role as a major trade and re-export gateway for Iran and may increase Iran's economic isolation. Continuing threats to shipping through the Strait of Hormuz also create economic risk for the UAE's regional business, finance and tourism position.
August 19, 2026
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Inflation persistence and expectations guide continued rate hold amid supply shocks and uncertainty over broader price pressures.
Monetary policy calibration remains contingent on clearer evidence that supply-side price shocks are becoming persistent, broad-based inflationary pressures. The policy rate was maintained unchanged amid uncertainty from higher energy costs, supply-chain disruption, an erratic monsoon and food, fuel and input-price risks. Policy tightening may be required if inflation becomes generalised, expectations become de-anchored, or inflation persists. A wait-and-watch approach was preferred pending clearer realised inflation, forecasts, weather effects and global conditions.
August 19, 2026
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Online credit card applications streamline comparison, eligibility screening and e-KYC, while approval remains subject to issuing-bank criteria.
Online credit card applications through the JioFinance app combine card comparison, eligibility checks, electronic verification, application submission and status tracking. Eligibility screening may occur without affecting the applicant's credit score, but approval remains subject to the issuing bank's criteria and internal policies. Aadhaar-based e-KYC or other accepted electronic verification may be used where applicable. Applicants should provide accurate Aadhaar, PAN and mobile details. Eligible approved applicants may receive a virtual card before physical-card delivery, subject to applicable terms and conditions.
August 19, 2026
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Comprehensive strategic partnership drives ministerial and business engagements on investment, market access, technology collaboration, skills and agri-food trade.
India-Singapore economic engagement is being advanced through ministerial and business roundtables under the Comprehensive Strategic Partnership. A multidisciplinary business delegation is undertaking business-to-business, government-to-business and institutional engagements focused on partnerships, investment, market access, technology collaboration and talent development. Agricultural trade cooperation includes promotion of Indian agri-food exports through a retail initiative. The engagement seeks to strengthen trade, investment, digitalisation, advanced manufacturing, skills development, green-economy cooperation and people-to-people ties.
August 19, 2026
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International senior notes issuance diversifies the bank's funding sources and expands access to global debt capital markets.
IDFC FIRST Bank accessed international debt capital markets through its IFSC Banking Unit at GIFT City by issuing inaugural fixed-rate senior notes with a three-year tenor, due in 2029. The notes were offered to investors outside the United States under the Regulation S format. The issuance followed an investment-grade long-term issuer credit rating with a stable outlook, diversifies the bank's funding sources, and creates an avenue for access to global capital markets in support of long-term growth.
August 19, 2026
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Closing auction session safeguards market transparency through pooled order matching, backed by immediate action against manipulation and stronger monitoring.
Closing auction session (CAS) improves transparency and reduces manipulation in end-of-trading price formation by pooling buy and sell orders during a designated closing window for auction-style matching. Manipulation intended to undermine CAS is subject to prompt and stringent action, supported by enhanced monitoring. Responsible use of artificial intelligence and machine learning requires tiered accountability and governance, including kill-switch, human-in-the-loop and data controls. Regulated entities remain responsible for privacy, security and integrity of investor data used by every AI tool they deploy.
August 19, 2026
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Foreign exchange market movement shows rupee pressure from elevated crude prices, moderated by reserves, intervention and FCNR(B) inflows.
Foreign exchange market movement saw the rupee depreciate marginally against the US dollar amid higher global crude oil prices, heightened West Asia tensions, a stronger dollar environment and weaker domestic equity markets. Central-bank intervention and foreign fund inflows provided support. Adequate foreign-exchange reserves and stronger-than-expected FCNR(B) scheme inflows were identified as factors limiting the scope for sharp depreciation.
August 19, 2026
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AI reliability engineering expands through an enterprise hub supporting AI assurance, agentic engineering, observability and trusted AI deployment.
QualityKiosk Technologies has established a Hyderabad engineering hub to expand AI reliability engineering, AI assurance and agentic engineering capabilities. The centre supports engineering, marketing, branding, analyst-relations and advisory functions, while serving enterprise demand for AI reliability, product engineering, CloudOps and automation. It advances an AI reliability operating framework covering AI for reliability, reliability of AI, agentic engineering, shift-right engineering, frontier-system reliability, observability and platform-based delivery to promote governance, resilience, operational trust and assurance in AI-powered systems.
August 19, 2026
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Money laundering investigation examines alleged diversion of government contract funds and their use in creating trust and university assets.
Money-laundering investigation under the Prevention of Money Laundering Act led to searches of premises associated with the Maulana Mohammad Ali Jauhar Trust, its university, linked companies, promoters and a chartered accountant. The inquiry concerns alleged diversion of government contract funds through private contractors and their alleged subsequent use, including for creating assets of the Trust and university. Separate planning-law issues concern allegations that most university buildings were constructed without approved plans.
August 19, 2026
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Foreign exchange market conditions supported marginal rupee strength despite crude oil pressures, regional tensions and oil-company dollar demand.
Foreign exchange market conditions reflected a marginal strengthening of the rupee against the US dollar in early trading, supported by reported Reserve Bank of India intervention, a softer dollar index and foreign institutional equity inflows. Higher global crude oil prices, West Asia tensions and oil-company demand for dollars continued to exert pressure, resulting in a range-bound trading environment.
August 19, 2026
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Competition approval for Tata Steel's share acquisition restructures ownership of logistics joint venture following an existing partner's exit.
Competition approval has been granted for Tata Steel Ltd.'s acquisition of IQ Martrade Holding Und Management GmbH's entire 23% equity shareholding in TM International Logistics Ltd., resulting in IQ Martrade's exit. Following completion, Tata Steel and NYK (Europe) B.V. will hold 74% and 26% equity shareholding, respectively. TM International Logistics primarily serves Tata Steel's logistics and cargo transportation requirements through railway cargo transportation, port operations and cargo handling, freight forwarding, and value-added logistics services.
August 19, 2026
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Competition approval enables increased insurtech shareholding through a rights issue, crossing the prescribed ownership threshold in insurance businesses.
Competition approval has been granted for General Atlantic Singapore ACK Pte. Ltd. to acquire additional shareholding in Acko Technology & Services Private Limited through the target's rights issue, resulting in the acquirer crossing the 25% shareholding threshold on a fully diluted basis. The target is an Indian insurtech company with subsidiaries conducting licensed general and life insurance businesses, while another subsidiary awaits a corporate agency licence for insurance-policy distribution.
August 19, 2026
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India-Japan investment partnership prioritises technology, manufacturing and infrastructure collaboration, with Uttar Pradesh positioned for deeper Japanese commercial engagement.
India-Japan economic cooperation is positioned for deeper investment and commercial partnerships in manufacturing, technology, infrastructure, energy, defence, artificial intelligence, semiconductors, critical minerals, batteries and next-generation mobility. Uttar Pradesh is identified as a prospective destination for Japanese investment because of its workforce, connectivity, manufacturing base, MSME sector, export capacity, transport infrastructure and industrial clusters. Investment facilitation is associated with reforms in ease of doing business, digital public infrastructure and multimodal logistics.

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Shri Goyal says India is a land of opportunity and Indian diaspora should take this message to the world

January 9, 2023

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Shri Goyal says India is a land of opportunity and Indian diaspora should take this message to the world

Shri Piyush Goyal calls upon the Indian diaspora to shape the contours of a powerful India

India poised to become the World’s third largest economy in few years: Shri Goyal

Pravasi Bhartiya Diwas is an occasion to celebrate and recognize the contribution of Indian Diaspora: Shri Goyal

Shri Goyal calls upon diaspora to buy India made products- handlooms and handicrafts for gifting needs on festive occasions

Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal today called upon Indian diaspora to contribute and shape the contours of New india, an India that will lead to global growth and is destined to become a Vishwaguru. He was addressing the Indian community at an event in New Jersey, US.

Applauding Indian Diaspora for their outstanding contribution overseas, Shri Goyal said they are the torch bearers of the India Story. He said that it is a matter of pride that Indians have contributed through India’s rich traditions and culture that helped Indian diaspora lead large corporations and have contributed to the economic well being of several countries. He highlighted that India is truly recognized and respected across the world due to the achievements of the Indian diaspora. He also stressed that the World today looks up to Prime Minister Shri Narendra Modi as the most popular and tallest leader in the World. Speaking about the G20 Meeting that was held in Bali Indonesia, Shri Goyal said it was the efforts and leadership of PM Modi in the Leader’s summit that brought all the leaders on one page to agree on a collective declaration. 

Expressing his delight at celebrating Pravasi Bhartiya Divas (PBD) with the Indians residing in New Jersey, Shri Goyal said that PBD, that was started by the former Prime Minister of India Late Shri Atal Bihari Vajpayee, is a occasion to celebrate all Pravasis and recognize their contribution. He appreciated Indians residing in America for maintaining and keeping the Indian tradition, culture and value system alive. He further added that Indians look up to overseas Indians residing in different countries as ambassadors of India.  Appreciating the fact that over 90 out of 1078 founders of about 500 Unicorns in USA are persons of Indian origin, Shri Goyal said the Indian diaspora has clearly demonstrated tremendous capacity through their work across different areas of healthcare, hospitality, journalism, technology, management. Quoting Atal ji, who had said - “Success of every category of our immigrants all over the world testifies the indomitable spirit carried from the Indian soil”, Shri Goyal said this spirit of service represented by the Indian community is celebrated  in PDB.

Quoting PM Shri Narendra Modi that “mere incremental progress is not enough, today a metamorphosis is needed”, Shri Goyal said transformational reforms that India witnessed over the last few years have made India a world’s 5th largest economy. He expressed confidence that in a few years from now India will be the third largest economy.

The Minister said both the US and India are vibrant democracies, both have strong linkages, geopolitical ties, huge interest in Business and economic well being of both countries. Shri Goyal said that Diaspora would continue to act as a living bridge between India and the USA. 

Speaking about Azadi ka Amrit Mahotsav that is being organised to celebrate 75 years of India’s independence, Shri Goyal spoke about the grand success of Har Ghar Tiranga drive across the length and breadth of the country stating that each and every home, every shop, office had a Tiranga unfurled demonstrating India’s unity in diversity.  Shri Goyal referred to PM’s clarion call of 5 Prans in his Independence Day address to the Nation last year, Shri Goyal said these Prans reflect the collective aspiration of 1.4 billion Indians, to make India a developed and prosperous nation by 2047. He encouraged everyone to aspire to prioritise these Prans as their mission and become a part of India’s journey to become a developed nation in the next 25 years.

Shri Goyal said during covid pandemic India faced all the challenges head on with grit and determination and converted those challenges into opportunities. India today has 6 indigenously developed covid vaccines, ramped up health infrastructure.  India also rebounded quickly after the lockdown. He also mentioned that last year India witnessed phenomenal achievement in terms of growth, FDI, exports. He also said that over the last 2 and a half years, the government continued to provide foodgrains to 800 million less privileged Indians ensuring not a single Indian sleeps hungry.

Shri Goyal highlighted that today India is the land of opportunity and expressed confidence that the diaspora will continue to contribute to make India a great superpower. India offers huge opportunities due to its large domestic consumption demand, democracy, rule of law, and transparent economy. He urged everyone to take this message to the world that India can be your trusted partner- in supply chains, investment portfolios, in your business.

Shri Goyal concluded by giving few calls for action :

  • Encourage everyone to aspire to bring high quality in everything that they do.
  • Buy India made products- handlooms/ handicrafts for gifting needs/ festive occasions.
  • Present India investment opportunities to investors in the USA.
  • Contribute to India's growth story through a great degree of philanthropy, knowledge transfers and taking innovation  to India.

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