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    India’s Foreign Exchange Markets: Getting ready for the next Decade [Keynote Address delivered by Deputy Governor Shri Rohit Jain on the Annual Day ...
    Govt rejects ethanol link to sugar price surge, says duty free imports allowed to curb prices
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August 21, 2026
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Foreign exchange market modernisation prioritises delegated decisions, customer transparency, digital workflows, local-currency settlement and accountable risk management.
Foreign exchange market modernisation advances a facilitative, principles-based framework based on delegated decision-making by Authorised Dealers, risk-based reporting, and customer-centric service standards. Authorised Dealers must apply clear internal policies, avoid unnecessary documentation, disclose charges, timelines and grievance mechanisms, and ensure consistent treatment of comparable transactions. Local-currency settlement requires viable trade corridors, competitive hedging, correspondent relationships and robust AML/CFT controls. Digital workflows, electronic trading and reporting infrastructure should improve transparency and resilience, while automated tools remain subject to explainability, review and data-protection safeguards.
August 21, 2026
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Sugar price containment measures restrict stockholding, permit duty-free imports, and strengthen inventory verification to deter hoarding.
Sugar price containment measures include stock limits for dealers, consumption-based inventory restrictions for bulk consumers, duty-free raw sugar imports, and physical verification of mill stocks to prevent hoarding and artificial scarcity. Price increases are attributed to lower domestic output, festive demand, crop damage, tighter global supplies, and speculation rather than sugar diversion for ethanol. Earlier crushing is advised to improve seasonal availability, while the ethanol programme supports management of sugar surpluses, mill liquidity, and timely sugarcane payments.
August 21, 2026
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Cross-border insolvency enforcement constrains asset recovery as Evergrande liquidation, founder asset confiscation, and audit-related claims continue.
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August 21, 2026
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Foreign exchange reserves rose through higher currency assets and gold holdings amid measures to attract external forex inflows.
India's foreign exchange reserves increased during the reporting week, led by higher foreign currency assets and gold reserves. Foreign currency assets include the dollar-value effects of movements in non-US currencies held as reserves. Special drawing rights declined marginally, while the reserve position with the International Monetary Fund increased marginally. Concessional swap arrangements formed part of measures to attract foreign-exchange inflows, while earlier reserve movements were linked to rupee pressure and dollar-sale intervention in the foreign-exchange market.
August 21, 2026
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Incremental tariff recovery aligns airport user charges with completed infrastructure, preventing passengers from funding non-operational capital projects prematurely.
User development fees and airport tariffs for Bengaluru International Airport have been revised for the April 2026 to March 2031 control period. The incremental Average Revenue Requirement framework excludes costs of identified high-value capital projects from tariffs until the relevant assets are completed, commissioned and available for users. Incremental tariff recovery may begin only upon operational availability, aligning charges with infrastructure use, reducing premature recovery risk for passengers and airlines, and encouraging timely completion of major capital works.
August 21, 2026
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Customer experience analytics enables banks to convert real-time feedback into operational improvements across high-value customer journeys.
Customer experience analytics is used in banking to transform customer data and real-time feedback into operational improvements across key customer journeys. Operational teams retain responsibility for strategy and execution, supported by in-house analytics and technology platforms for multi-channel journey mapping, journey analytics and prioritisation of high-value customer segments. AI-driven customer experience management tools capture customer signals, analyse journey performance and operationalise actionable insights across teams.
August 21, 2026
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Predicate-offence dependency limits retrospective addition of old FIRs to preserve money-laundering proceedings after the original scheduled offence is closed.
Predicate-offence dependency under the Prevention of Money Laundering Act requires an ECIR to rest on a subsisting scheduled offence. Closure of the FIR forming its basis through an accepted cancellation report prevents continuation of money-laundering proceedings unless that closure is overturned. A previously registered FIR cannot be belatedly added merely to preserve an existing ECIR and coercive powers. Where statutory requirements are met, an independently registered ECIR may be required. Expansion of an ECIR cannot rest solely on tenuous factual links between successive disputes.
August 21, 2026
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Indian rupee export invoicing rules now permit overseas contracts and invoices in rupees or foreign currency for eligible destinations.
Foreign Trade Policy provisions were amended to facilitate invoicing of overseas exports and receipt of export payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency, replacing the earlier general requirement that export earnings be received in a freely convertible currency. The applicable requirements vary according to the destination country.
August 21, 2026
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Dealer inventory financing supports working-capital flexibility, vehicle inventory management and electric-vehicle network expansion for authorised dealers.
Dealer inventory financing is to be provided by Federal Bank to VinFast India's authorised dealer network under a memorandum of understanding. The tailored financing is intended to improve dealers' working-capital flexibility, support maintenance of vehicle inventory, strengthen operational capability, and enable timely response to demand as the electric-vehicle distribution network expands.
August 21, 2026
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Sugar supply pressures drive festive-season price increases as imports, stockholding limits and ethanol diversion shape market conditions.
Sugar prices in Bengal have risen sharply ahead of the festive season, with higher prices also affecting jaggery and other sugar-derived products. Supply constraints, mill stock releases, lower production in Brazil, ethanol diversion and possible hoarding have been identified as contributing factors. Raw-sugar imports have been permitted to augment availability, while stockholding restrictions limit inventories of specified bulk consumers. Lower projected closing stocks and possible future production effects from El Nino may sustain pressure on sugar availability and increase costs for sweetmeat producers.
August 21, 2026
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
The rupee strengthened marginally against the US dollar as the dollar index softened, but elevated crude oil prices, geopolitical uncertainty, reduced foreign participation and net foreign equity outflows constrained currency sentiment. RBI measures to attract foreign currency inflows, including FCNR(B) deposits, were expected to generate substantial inflows, although these had not produced meaningful rupee strength. Energy-market disruption and restrictions on fuel exports through the Strait of Hormuz added to external-sector pressures.
August 21, 2026
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Sovereign security production priorities emphasise compliance, modernisation, employee innovation and operational excellence across currency, passport and coinage manufacturing.
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August 20, 2026
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Customs enforcement against suspected gold smuggling leads to baggage seizure and apprehension of the alleged intended receiver.
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August 20, 2026
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Provincial alcohol sales restrictions remain subject to economic impact assessment under proposed bilateral trade agreement negotiations.
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August 20, 2026
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Electoral-roll verification found no reported cases of specified foreign nationals receiving identity-linked benefits or voter registration.
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August 20, 2026
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
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August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.

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Customs, DGFT & SEZ

Centre allocates 145 Crores rupees to Nagaland for the purpose of Unity Mall in Dimapur

June 22, 2023

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Centre allocates 145 Crores rupees to Nagaland for the purpose of Unity Mall in Dimapur

Efforts such as Krishi UDAN scheme, expanding railway connectivity to be undertaken to improve logistics facilities for ODOP products from Nagaland

Organic certification will play major role in insuring better access for Indian products in foreign markets and help gain better prices for farmers: Sumita Dawra, Special Secretary, DPIIT

Department for the Promotion of Industry and Internal Trade  and Invest India in collaboration with the Department of Industries and Commerce, Nagaland, and Press Information Bureau Kohima organized an ODOP Sampark event on the 21st of June 2023 at the Hotel Vivor, Kohima, Nagaland. The event was graced by the Smt. Sumita Dawra, Special Secretary, DPIIT, Govt. of India, Shri R. Ramakrishnan, IAS, Development Commissioner, Govt. of Nagaland and Shri Kekhrievor Kevichusa, Commissioner & Secretary, Industries & Commerce, Govt of Nagaland

The event was organized to create awareness regarding the efforts of DPIIT, Ministry of Commerce and Industry, Govt of India through its two flagship Initiative One District One Product (ODOP) and PM Gati Shakti (Logistics).

Smt. Sumita Dawra, Special Secretary, DPIIT, Govt. of India highlighted the efforts of DPIIT and Invest India in conducting a National Programme for Organic Production (NPOP) Drive in Kohima, Nagaland on 20th June 2023 for Chilli from Nagaland.

  • The workshop was attended by over 30 farmers of Chili from Kohima, Nagaland.
  • The documentation for the organic certification for over 15 chili farmers from Kohima was done during the workshop and the remaining will be completed soon after the verification of their documents.
  • This will play a major role in ensuring better access for Indian products in foreign markets like the EU, Switzerland, etc, and help gain better prices for the farmers.
  • She also highlighted that efforts will be undertaken to improve the logistics facilities for ODOP products from Nagaland like chili, turmeric, kiwi, pineapple, etc, through the Krishi UDAN scheme, expanding railway connectivity, etc.
  • She also noted that the Union Budget 2023-24 has allocated Rs 5000 crore for the construction of Unity Malls across the country. This will function as a one-stop marketplace for ODOP products across the country.
  • It was also highlighted that INR 145 Crores has been allocated for the proposed Unity Mall planned by the State government in Dimapur.
  • The One District One Product Awards have been instituted by DPIIT to acknowledge the extraordinary work done by States/ UTs, Districts, and Indian Missions Abroad, for the economic development of the State and contribute towards the realization of the Hon’ble Prime Minister’s vision of Atmanirbhar Bharat through the ODOP approach.  The Awards will be launched on 25th June 2023 in the Rashtriya Puraskar Portal.

The local officials representing the Department of Industries, Agriculture, Horticulture and APEDA also highlighted the need for an integrated Customs Depo, a dedicated Krishi rail wagon up to Dimapur, and connectivity under the Krishi Udan Scheme for connectivity of organic products.

  • The Special Secretary also assured that these matters will be proactively taken up with all concerned Ministries/Departments under the PM Gati Shakti National Master Plan.

The official from DPIIT Invest also highlighted the efforts  under the ODOP Initiative for the empowerment of Indian products through interventions like Design sensitization workshops, ODOP GeM Bazaar on Government e-Marketplace, ODOP exhibitions, etc.

The event also witnessed an ODOP Exhibition of ODOP products from Nagaland including Chili, fish, coffee, turmeric, etc. It also provided an opportunity for the media to interact with ODOP farmers from Nagaland. The farmers were also able to raise their concerns with the officials for the promotion and empowerment of producers from Nagaland.

  • A review meeting on PM GatiShakti National Master Plan (NMP) under the chairpersonship of Special Secretary (Logistics) with officials of Govt of Nagaland being organized at Kohima on 21st June 2023. The objective of the meeting is to promote wider adoption of PM GatiShakti for holistic planning, bring more vigor and build synergy with all the stakeholders of the PM GatiShakti NMP.
  • The meeting was addressed by Sh Jan e Alam, Chief Secretary, Govt of Nagaland and Ms Sumita Dawra, Special Secretary (Logistics), DPIIT
  • Over 30 officials of Govt of Nagaland comprising the members from Empowered Group of Secretaries (EGoS) and Network Planning Group (NPG) of State attended the meeting.
  • PM GatiShakti is a transformative approach which was launched on October 13th, 2021 by the Hon’ble Prime Minister for planning & building Next Generation Infrastructure in the country, thereby promoting multimodal logistics connectivity to improve both Ease of Living as well as Ease of Doing Business.
  • Special Secretary in her presentation addressed the adoption of PM GatiShakti with a holistic approach and demonstrations of best practices by Ministries and States. Deliberations on requirements for State Master Planning, with special attention on data quality management, area development approach for developing economic centres in the North East, strengthening the North East corridor through adequate multimodal connectivity, Area planning approach for upcoming infrastructure projects, use of technology for improving logistics efficiency were the main highlights of the meeting.
  • Since the launch of PM GatiShakti National Master Plan, the Nagaland State has created requisite framework in terms of Institutional Arrangements/Policy Formulation for alignment with PM GatiShakti framework. Empowered Group of Secretaries (EGoS), Network Planning Group (NPG), and Technical Support Unit (TSU) have been constituted in the State comprising various departments like Power, Roads, Urban Development, Tourism, Transport etc. As on 13th June, 2023 out of 30 mandatory data layers, twenty-two (total/partial) have been integrated in the State Master Plan (SMP) platform. Data layers such has Forest, Eco sensitive zones, Village habitations, Economic areas, Roads, etc have been integrated.
  • As part of Special Assistance Scheme for the States under Part-II for the FY 2022-23, an amount of Rs 28.43 crores was disbursed for the projects mentioned
  • Modern Aggregation Centre at Longnak, Mokokchung District
  • Modern Aggregation Centre at Changtongya, Mokokchung District
  • Integrated warehouse and distribution center at Meluri, Phek District
  • PM GatiShakti Data center at Kohima
  • Modern Aggregation Centre at Pfutsero, Phek District
  • Five projects submitted as part of State Annual Action Plan have been mapped on the SMP. Development of Customised tools important for economic and social infrastructure planning and for decision making is under discussion with BISAG-N

  • To complement the PM GatiShakti NMP, the National Logistics Policy (NLP) was launched to address the components of improving efficiency in logistics services and human resource through streamlining processes, regulatory framework, skill development, mainstreaming logistics in higher education and adoption of suitable technologies. To bring a holistic focus on Logistics at State level, Nagaland State Logistics Policy is under final draft stage with State.
  • The State participated in the Fourth Regional Workshop of PM GatiShakti for North East Regional Workshop which was conducted on 24-25th March 2023 in Guwahati, Assam.
  • State has been regularly participating in zonal review meetings and interacts with DPIIT officials for better coordination on the adoption of PM GatiShakti.
  • The training and capacity building of Govt officers from the State have been done at BISAG-N, Gandhinagar
  • The meeting concluded with the following remarks from Ms Sumita Dawra, Special Secretary, Logistics, DPIIT, Govt. of India requesting the State on the following:

  • Use NMP/SMP for planning all upcoming infrastructure projects.

  • Improve data mapping and authenticity of data on the data layers mapped on SMP.
  • Focus on development of economic centres in the North East through appropriate infrastructure and logistics development.
  • Usage of SMP for Area Development Approach on the identified area
  • Identify critical infrastructure gaps and ensure they are taken up for connectivity projects.
  • Onboarding of social sector departments of the State in PM Gatishakti for Planning of social infrastructure
  • Leverage local remote sensing agencies / space agencies for development of geo-tagged data, under guidance of BISAG-N, Ahmedabad
  • Sensitizing and penetration of PMGS adoption at district level for effective area development planning, to improve both Ease of Doing Business and Ease of Living of citizens.
  • Annexture

    Background on ODOP

    The ODOP initiative is a visionary program aligned with the Hon’ble Prime Minister's vision of fostering inclusive development across all districts of India. The objective is to identify and promote a distinct product from each district, thereby creating a niche identity for them. By focusing on these chosen products, ODOP aims to drive holistic socio-economic growth and improve market accessibility.  Over 1000 products have been selected from all 761 districts of the country. The products are selected by the State Government in consultation with district administration.

    The ODOP initiative covers a wide range of products spanning textiles, agricultural produce, processed goods, pharmaceuticals, and industrial items. The aim is to promote and harness the diverse expertise present in different sectors and communities across the country. 

By identifying and addressing challenges throughout the supply chain, enhancing market reach, and providing dedicated support to producers, ODOP aims to transform districts into prominent market hubs for their chosen products. Through this comprehensive approach, ODOP is set to empower districts, promote entrepreneurship, and contribute to the overall economic growth and prosperity of the nation.

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