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    Rupee rises 31 paise to 95.12 against US dollar in early trade
    Customs seizes 8 kg gold worth over Rs 11 cr at Kerala airports in one week
    Drill, Baby, Drill: India to fund Rs 650 cr per well for 60 deepsea wells to break its oil import habit
    Punjab GST revenue rises 20 pc to Rs 10,447 crore in April-July: Cheema
    India-China trade through Shipli La resumes after six years
    Odisha's export can reach USD 50 billion by FY 2029-30: Study
    Andhra records 21 per cent growth in net GST collections till July
    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
    Gross and Net GST revenue collections for the month of July, 2026
    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
    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
    Sebi bars ZEEL for 2 months, Subhash Chandra, Punit Goenka for 1 year in Hyderabad land pledge case
    Department of Commerce Holds Workshop on Trade and Sustainable Development Policy Landscape
    GeM Launches 10-Day Celebrations Ahead of 10th Foundation Day, Unveils Commemorative Logo
    All Indian exports of dual-use items comply with international obligations: MEA
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    August 3, 2026
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    Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, attributed to lower global crude oil prices, a weaker dollar, sustained foreign portfolio inflows, higher foreign exchange reserves, and Reserve Bank of India presence in the foreign exchange market. Domestic equity market gains and net foreign institutional equity purchases were also identified as supporting factors.
    August 2, 2026
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    Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
    Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
    August 2, 2026
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    Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
    The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
    August 1, 2026
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    GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
    Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
    August 1, 2026
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    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
    August 1, 2026
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    Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
    Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
    August 1, 2026
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    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
    GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
    August 1, 2026
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    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
    Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
    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.
    PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
    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.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Customs, DGFT & SEZ

      The Agricultural and Processed Food Products Export Development Authority (APEDA) completes 37 years of its journey

      February 13, 2023

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      The Agricultural and Processed Food Products Export Development Authority (APEDA) completes 37 years of its journey

      Exports rose from 0.6 USD billion in 1987-88 to 24.77 USD billion in 2021-22; set to achieve close to 30 USD billion by 2022-23
      APEDA products exported to over 200 countries
      APEDA organizes capacity building programmes and trade meets all over the country to encourage exports and facilitate the doubling of farmers’ income

      The Agricultural and Processed Food Products Export Development Authority (APEDA), which was established in 1986 and works under the Ministry of Commerce and Trade, has achieved phenomenal success in the promotion of export of agricultural products in its successful journey of 37 years.

      Started with a merely USD 0.6 billion export in 1987-88, the APEDA’s active intervention took the export of agricultural products to a new height of USD 19.69 billion till April-December 2022-23 and expanded the export basket to over 200 countries. In 2021-22, the APEDA exported agricultural products worth USD 24.77 billion.

      The target given to APEDA in the current financial year (2022-23) is USD 23.56 billion, out of which 84% i.e. USD 19.69 billion has been achieved till December 2022, and the remaining target is expected to be completed within the stipulated time period.

      According to the WTO Trade Data, India was ranked at 25th in 1986, which slipped further to 28th in 1987 and at 29th position in 1988. However, the ranking of India improved significantly as the county’s position moved to 10th rank in 2019 which improved further to 9th position in 2020 and at 8th rank in 2021.

      Aiming to take export of agricultural products to a new level, APEDA promoted IT-enabled activities for ease of doing business in the promotion and development of exports from India. APEDA has undertaken initiatives like paperless office (re-engineering, digital signatures, electronic payment facility), APEDA Mobile App, phase-wise delivery of online services, monitoring and evaluation, uniform access, and virtual trade fair to make governance more efficient and effective.

      APEDA’s intervention led to setting up and upgrading the infrastructure of the country for agri exports and augmenting quality of agri exports.

      Keeping in mind Prime Minister Narendra Modi’s call for ‘vocal for local’ and ‘Atmanirbhar Bharat’, APEDA has been focusing on promotion of exports of locally sourced GI (Geographical Indications) tagged as well as indigenous, ethnic agricultural products. New products and new export destinations have been identified and accordingly the trial shipments have been facilitated.

      As on date, there are 417 registered GI products and of them around 150 GI tagged products are agricultural and food GI out of which more than 100 registered GI products fall under the category of APEDA scheduled products (Cereals, Fresh Fruits and vegetables, processed products, etc).

      Some of ethnic and GI tagged products exported by India include dragon fruit, patented village rice, jackfruit, jamun, Burmese grapes, dehydrated mahua flowers, and puffed rice. GI varieties of mango, GI tagged Shahi litchi, Bhalia wheat, Madurai malli, king chilli, Mihidana, Sitabhog, Dahanu Gholvad Sapota, Jalgaon banana, Vazhakulam pineapple, Marayoor jaggery, Khasi Mandarin (GI) from Meghalaya, etc.

      The Agriculture Export Policy stepped in as an Institutional mechanism in 2018 for promotion of agricultural exports in the States for the first time with a focus on agriculture export-oriented production, export promotion, better farmer realization and synchronization with the policies and programmes of Govt. of India laying emphasis on farmer-centric approach.

      A Market Intelligence Cell has been constituted in APEDA and the activity of dissemination of E-market intelligence reports comprising detailed market analysis has commenced.

      A Farmer Connect Portal has also been set up by APEDA on its website for providing a platform for FPOs/FPCs, Cooperatives to interact with exporters.

      Working in tandem with the Ministry of Commerce & Industry, APEDA has taken a giant leap in making landlocked Purvanchal a new destination of agri export activities by developing Varanasi Agri – Export Hub (VAEH) in a record time. The Varanasi region, where almost NIL export activities were happening due to lack of basic infrastructure, is now abuzz with agri export activities.

      After the intervention of APEDA, Varanasi region has recorded exemplary changes in the export scenario and registered many first-of-its-kind achievements in a very short span of time from Purvanchal region. The agri exports from Himalayan belt, J&K to Ladakh was an achievement in development of region with regard to agri exports. The landlocked states such as North Eastern Region, Uttar Pradesh, Uttranchal, Bihar, Madhya Pradesh spurred in agri exports when their products were sourced from farmers and displayed in the retail chains of importing countries.

      Non-Basmati Rice has emerged as India’s top export item among the many agricultural and processed food product exports under APEDA basket. With the export of USD 4663 million in nine months of 2022-23, it is recorded a significant contribution in the current fiscal. Other top products in the APEDA export basket in 2022-23 is Basmati Rice, Cereal preparations & Miscellaneous processed items and meat, dairy & poultry products.

      As a part of the Indian Millets promotion on web, APEDA has designed, developed and launched the Millets Portal. It has also created a separate portal Indian Millet Exchange to promote millets.

      Agricultural sector is one of the key sectors of the Indian economy as it provides direct employment to about 65% of the working population in the country and also forms the basis of major key industries. Agriculture contributes about 20.2% to GDP and about 14.1% India’s export of agricultural products during 2020-21.

      Realising the importance of agriculture and processed food products export from the country, the Government in 1986 had set up Agricultural and Processed Food Products Export Development Authority (APEDA) through an Act of Parliament under the Commerce Ministry. Then the newly created body replaced the then existing Processed Food Export Promotion Council (PFEPC). The APEDA had been undertaking most of the activities as per its mandate and scope of work allocated spanning its 14 product categories which mainly includes the sector of fruits and vegetables, processed fruits and vegetables, animal, dairy and poultry products and cereals.

      Over the years, APEDA has been handling issues concerning product safety, quality and global promotion for all its product categories, compromising more than 700 products. With the agriculture awareness about environmental and food safety issues in the importing countries and constantly additional food norms and consumer preferences, APEDA has been constantly sensitizing its trade exporters about export requirements and also providing assistance for setting up of infrastructure facilities for common uses and as well as by the concerned member exporters for having export oriented production for exports from the country.

      Considering the importance of food safety and traceability required by the importing countries of developed economies, APEDA took a number of initiatives in the area of quality development such as preparation of standards, procedures for identified potential products, development of residue monitoring protocol, recognition of laboratories and implementation of traceability systems, etc.

      The Government of India through the Ministry of Commerce initiated development of National Programme for Organic Production (NPOP), which was approved by the Government on May 2, 2001 and APEDA designated as Secretariat for NPOP.

      Basmati Export Development Foundation (BEDF) organizes workshops/capacity building programmes for stakeholders across the country.

      The visionary approach, aggressive and consistent efforts of APEDA has enabled India to position itself as a consistent and quality supplier of agri products.

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