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    ACE Software Posts Earnings Turnaround; Standalone Profit Before Tax Up 43% YoY
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    August 3, 2026
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    Quarterly financial performance reflects revenue growth, improved standalone profitability, and continued investment in AI-led digital technology platforms.
    Quarterly financial performance reported revenue growth in standalone and consolidated operations, higher standalone profit before tax, and a return to consolidated profitability. The company continues to invest in an AI-led, intellectual-property-driven digital technology strategy through enterprise software, SaaS platforms, digital commerce, cloud, data and AI solutions. Its priorities include scalable platforms, proprietary technology assets, recurring-revenue offerings, partnerships and selective acquisitions. Complete financial results, notes to accounts and regulatory disclosures are available through exchange filings and the company website.
    August 3, 2026
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    MSME delayed-payment reforms strengthen award recovery, faster dispute adjudication, invoice discounting, and interim supplier payment protection.
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    August 3, 2026
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    Monetary policy rate setting remains cautious as inflation, liquidity, growth and global uncertainty shape the policy stance.
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    August 3, 2026
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    Forward-looking financial disclosure raises revenue and earnings guidance while describing non-GAAP measures, capital allocation, and material business risks.
    Financial performance reporting identifies increased bookings, revenue growth, continuing earnings, and backlog, with segment-level operating and margin measures. The release addresses cash flow, capital allocation through dividends, acquisitions and share repurchases, and increased full-year revenue and earnings guidance. Forward-looking statements concerning financial performance, operations, demand, liquidity and capital deployment are subject to identified risks and uncertainties. Non-GAAP measures are presented as supplemental to GAAP measures, with definitions and reconciliations stated to be available in accompanying materials.
    August 3, 2026
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    Counterfeit drug enforcement targets illicit manufacture, storage and trafficking networks, with coordinated seizures and referral of non-narcotic stock.
    Counterfeit-drug enforcement under Operation Vajra addressed an inter-state network involved in the illicit manufacture, storage and distribution of narcotic drugs, psychotropic substances and spurious pharmaceutical products. Searches of unregistered godowns recovered narcotic products, unauthorisedly manufactured Buprenorphine injection ampoules, and counterfeit non-NDPS medicines. A farmhouse-based illicit manufacturing facility was dismantled, with machinery, chemicals and related materials seized under the NDPS Act, 1985.
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    Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
    Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
    August 3, 2026
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    Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
    Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
    August 3, 2026
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    Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
    Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
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    Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
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    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
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    August 1, 2026
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    PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
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    August 1, 2026
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    Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
    Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
    August 1, 2026
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    GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
    GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
    August 1, 2026
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    Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
    Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.

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      Customs, DGFT & SEZ

      14th Edition of the World Spice Congress (WSC) to be held in Mumbai from 16-18 February 2023

      January 10, 2023

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      14th Edition of the World Spice Congress (WSC) to be held in Mumbai from 16-18 February 2023

      The WSC will open new opportunities to promote international trade of Indian spices with G20 countries

      India is known as the ‘Spice Bowl’ of the world. It produces a number of quality, rare and medicinal spices. With an aim to open up newer opportunities to promote international trade of Indian spices, the 14th edition of the World Spice Congress (WSC), is to be held in Mumbai from 16-18 February 2023.

      D Sathiyan, Secretary, Spices Board, Ministry of Commerce and Industry, stated that this edition of the WSC is special because it coincides with India’s G20 presidency. He was speaking at the curtain-raiser press conference held in Mumbai today. He further said that it will provide a platform for the stakeholders to discuss the industry’s current trends after COVID-19 and chart out a way forward. The event, organised to create a platform not only for traders but also policy regulators, will have special business sessions dedicated to promoting spice trade among the G20 countries. Policy makers, regulatory authorities, spice trade associations, government officials as well as technical experts from key G20 countries will participate in the event, informed Shri. Sathiyan. The theme of the WSC 2023 is VISION 2030: S-P-I-C-E-S (Sustainability, Productivity, Innovation, Collaboration, Excellence and Safety).

      Speaking about choosing Maharashtra as the venue for the WSC, Shri. Sathiyan said, “Maharashtra is a one of the leading states producing spices. It is the largest producer of turmeric in India. Maharashtra produces two GI tagged turmeric varieties and one GI tagged chilli variety. Coastal areas of Maharashtra are also known for production of GI tagged Kokum.  The state is one of the largest exporting hubs for spices.”

      Providing details of the events planned for the Congress, Mr. Sathiyan said that, Shri Piyush Goyal, Minister of Commerce and Industry and Smt. Anupriya Patel, Minister of the State, Ministry of Commerce and Industry have consented to grace the WSC 2023, to be held at the CIDCO International Convention Centre, Navi Mumbai. Shri Piyush Goyal will also distribute the trophies and Awards for Excellence in Exports of Spices on 17th February 2023.

      While elaborating on the spice trade in India, Shri Sathiyan said that during 2022-23, there has been an increased demand for certain spices, especially the seed spices including cumin, fenugreek, Bishop’s weed (Ajwain), Dill, Poppy, Aniseed, Mustard and others. Garlic has registered an increase of 170% in quantity during April-October 2022 compared to the same period last year. Some other spices such as Saffron, which had a bumper crop in the current season, Asafoetida, Cinnamon and Cassia also show a positive trend. Value added products derived from spices such as curry powder also show a positive trend.

      A majority of the spice trade in India takes place during the last quarter of the year and the Indian spice industry is looking forward to an increased export of spices during January -March 2023, which is expected to take the total exports towards the USD 4 billion mark. The WSC 2023 will provide a platform to further explore diverse possibilities in this area.

      WSC 2023 Highlights:

      This year’s WSC 2023, supported by the Government of India, is expected to be bigger and far more diverse compared to previous editions and will have special state pavilions and commodity pavilions. The event will provide an opportunity for the spice fraternity to meet and promote Indian brands before a bigger global audience.

      The business sessions of WSC 2023 will focus on topics such as:

      • India - The Spice Bowl for Global Market
      • Perspectives on addressing Food safety & Quality Requirements for Spices (Presentation/Panel Discussion with Regulatory Authorities);
      • Strengthening Global Spice Trade-Country Perspective & Opportunities
      • Crops & Markets - Forecasts & Trends
      • Spice Market outlook by International Spice Trade Associations

      The event will have:

      • Awards Nights – Distribution of the prestigious Awards for excellence in export of spices
      • Spice Experience Zone
      • Authentic Indian Experiences– Cultural, Culinary
      • Tech Talk Sessions and Product Launches

      The WSC is organized by the Spices Board with active participation of Spice Trade Associations in India like the Indian Spice & Foodstuff Exporters' Association –Mumbai, Indian Pepper and Spice Trade Association –Kochi, Indian Chamber of Commerce-Kolkata and Federation of Indian Spice Stakeholders - Unjha, Gujarat.

      Participation in WSC 2023 is only for registered delegates and those who are interested can register online at www.worldspicecongress.com

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