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    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
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    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
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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
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    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
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    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
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    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
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    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
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    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.

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      Customs, DGFT & SEZ

      India marks one year of launch of National Logistics Policy on 17th September 2023

      September 14, 2023

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      Rapid progress made in improving logistics

      To complement PM GatiShakti National Master Plan (NMP) , the National Logistics Policy (NLP) was launched on 17th September 2022 by the Prime Minister, Shri Narendra Modi. While the PM GatiShakti NMP addresses integrated development of the fixed infrastructure and network planning, the NLP addresses the soft infrastructure and logistics sector development aspect, inter alia, including process reforms, improvement in logistics services, digitization, human resource development and skilling.

      Vision

      The vision of NLP is to drive economic growth and business competitiveness of the country through an integrated, seamless, efficient, reliable, green, sustainable and cost-effective logistics network by leveraging best in class technology, processes and skilled manpower. This will reduce logistics cost and improve performance.

      Targets

      The targets of the NLP are to: (i) Reduce cost of logistics in India; (ii) improve the Logistics Performance Index ranking – endeavor is to be among top 25 countries by 2030, and (iii) create data driven decision support mechanism for an efficient logistics ecosystem.

      Comprehensive Logistics Action Plan (CLAP)

      To achieve these targets, a Comprehensive Logistics Action Plan (CLAP) as part of the NLP was launched covering eight action areas including (i) Integrated Digital Logistics Systems; (ii) Standardization of Physical Assets and Benchmarking of Service Quality Standards; (iii) Logistics Human Resource Development and Capacity Building; (iv) State engagement; (v) EXIM Logistics; (vi) Services Improvement Framework; (vii) Sectoral Plans for Efficient Logistics (SPEL); and (viii) Facilitation of Development of Logistics Parks.

      Outreach Events/meetings:

      Since the launch of the NLP, significant progress has been made with respect to the implementation of the Policy. By means of regional conferences, one-on-one interactions, and inter-Ministerial meetings, DPIIT has facilitated the implementation of NLP. An overview of these outreach activities is given below.

      1. Inter-Ministerial meeting on 28th July 2023

      • On completion of ten months of the launch of the National Logistics Policy (NLP), an inter-Ministerial meeting to review the progress of its implementation was held by DPIIT, on 28th July 2023. During the meeting measures taken by different Ministries to improve logistics efficiency in the country were showcased.
      • The meeting saw participation from eleven infrastructure and user Ministries including M/o Road Transport & Highways (MoRTH), M/o Port Shipping and Waterways (MoPSW), M/o Coal, D/o Food & Public Distribution, M/o Civil Aviation (MOCA), M/o Steel, D/o Commerce, D/o Fertilizer, D/o Revenue, M/o Skill Development and Entrepreneurship (MSDE) and M/o Power and, National Industrial Corridor Development Corporation Limited (NICDC).
      • The meeting was Chaired by Special Secretary (Logistics). Secretary DPIIT had joined during the closing session. The meeting was divided into two sessionsSession, I focussed on review of measures undertaken by DPIIT and Session II covered progress in implementation of the NLP by participating Ministries.

      2. Regional Workshops (between 20th March and 12th April 2023)

      • DPIIT organised five regional workshops between 20th March and 12th April 2023. All workshops had a dedicated session on NLP, wherein key features and progress of NLP was showcased and participating States/UTs presented the status and key highlights of respective State Logistics Policy and other interventions.
      • Over 500 participants covering Officials from all 36 States/UTs and concerned line Ministries/Department, and representatives from knowledge partners and multilateral organisations, attended these workshops.

      3. Other one-on-one Interactions / Meetings:

      • Meetings on Logistics Performance Index (LPI): In an endeavor to further improve India’s ranking in the LPI, DPIIT has undertaken several measures. To apprise the World Bank team about the several initiatives and reforms of the Government of India and draw their attention on need for greater emphasis on objective based methodology for LPI scoring, Secretary, DPIIT met senior officials of World Bank Group at their headquarter in Washington DC.
        • In continuation with that DPIIT held a series of meetings with the World Bank Group [Logistics and Infrastructure India team] and concerned line Ministries.
        • dedicated Unit is being set up within the Logistics Division to develop and implement an action plan for improving India’s LPI ranking.
        • In addition, concerned line Ministries are setting up a dedicated cell for a focused project-based approach to improving India’s performance across the six LPI parameters.
      • Services Improvement Group (SIG) meetings: In line with approved institutional mechanism for the NLP, an Inter-Ministerial SIG was constituted on 14th March 2023Chaired by SS (Logistics), this group comprises of representatives from MoRTH, MoR, MoPSW, MNRE, MoP, DoT, MoPNG, MoCA, NITI Aayog, MoEFCC, MoHUA, DoR and DoC.
      • Objective: The SIG has been constituted to facilitate speedy resolution of logistics services and processes related issues of the industry, in a coordinated manner. Resolution of issues through SIG shall promote inter-operability; eliminate fragmentation in documentation, formats, processes, liability regimes and reduce gaps in regulatory architecture.
      • E-LoGs portal (digital system for registering logistics related issues by logistics sector associations): As on date 29 logistics sector associations are registered on the E-LoGs portal, with total 71 issues, of which 34 issues have been resolved.
      • Regular roundtables with industry players and SIG meetings are held.  Till date, six meetings of SIG, along with industry associations have been held.

      Progress on Implementation of NLP & CLAP

      Since the launch of the NLP, progress made in implementation of the CLAP is summarised below:

      • Unified Logistics Interface Platform (ULIP): For digital integration in logistics sector and to provide single sign to users who are trading goods and using multiple modes of transport – the Unified Logistics Interface Platform (ULIP) was launched along with the NLP.
      • ULIP is an indigenous data-based platform which integrates 34 logistics-related digital systems /portals across Ministries / Departments. It is worth noting that GST data is also being integrated with ULIP.
      • ULIP provides opportunities to private sector to develop use cases on ULIP. By signing Non-Disclosure Agreements (NDAs) and after due diligence, data on ULIP can be accessed through API integration and private players can develop apps/use cases.
        • Over 614 industry players have registered on ULIP.
        • 106 private companies have signed NDAs
        • 142 companies have submitted 382 use cases to be hosted on ULIP.
        • 57 applications have been made live.
      • EXIM Logistics: To promote trade facilitation and streamline EXIM logistics, following measures have been undertaken:
        • Infrastructure gaps are being addressed and digital initiatives undertaken (under National Committee on Trade Facilitation);
        • An EXIM Logistics Group has been constituted;
        • A Comprehensive port connectivity plan developed by M/o port shipping and waterways, to address last and first mile infra gaps and promote seamless movement of goods to ports. 60 projects of MORTH and 47 of Railways have been sanctioned to improve last mile connectivity to ports.
        • To improve port productivity and address issues, several meetings have been held with MOPSW, port authorities, etc.; Port Processes studies have been conducted at 3 Major Ports (Chennai, JNPT and Vishakhapatnam); Visit to ports are being undertaken by DPIIT.
        • The Logistics Data Bank (LDB) is an application that tracks and traces of EXIM cargo. greater predictability, transparency and reliability, logistics cost will come down and wastages in supply chain will reduce.
      • Using LDB data, new analysis of port-wise vessel turnaround time is being prepared. Congestion between port and nearest check post is provided in the form of Port to CFS/ICD (For import cycle); CFS/ICD to Port (For export cycle); Port to nearest toll plaza. Using these analytics, port authorities are taking measure to improve performance.
      • Human Resource Development
      • To promote professionals in the sector, Government is notifying qualification packs for different job roles in the sector.
      • Webinar with Capacity Building Commission, Central Training Institutes (CTIs) and State Administrative Training Institutes (ATIs) was held in July 2023.
      • To further give traction to training and capacity building in Logistics and Infrastructure Development, Syllabus and training modules is being developed.
      • Sectoral Plan for Efficient Logistics (SPEL)
      • To address sector-specific needs in the logistics sector and streamline movement of bulk and break-bulk cargo in the country, Sectoral Plans for Efficient Logistics (SPEL) are being developed by user Ministries. These include sector specific action plans /interventions necessary for seamless movement of goods across different origin-destination pairs.
      • So far, Comprehensive Port Connectivity Plan (CPCP) to bridge last mile gaps to ports, has been developed by M/o Port, Shipping and Waterways. The CPCP consisting of 107 Port connectivity projects (47 of MoR and 60 of MoRTH) has been notified.
      • A Coal Logistics Plan for efficient coal evacuation has been developed by M/o Coal.
      • M/o Steel is also developing its sectoral plan.
      • State Engagement
      • State Logistics Policy: To bring holistic focus on ‘logistics’ in public policy at State level, States/UTs are developing State Logistics Plans (SLPs) aligned with NLP. So far, 22 States have notified their respective State Logistics policies.
      • Logistics Ease Across Different States (LEADS): An indigenous logistics performance index on lines of the World Bank’s LPI, called ‘Logistics Ease Across Different States (LEADS)’ index for logistics performance monitoring across states has been developed. The survey is conducted annually and States are ranked according to their performance. The main objective is to identify areas of improvement and support State Governments to undertake adequate infrastructure, services and regulatory reforms to improve their logistics performance. The LEADS 2023 report will be unveiled soon.
      • Logistics Cost Framework
      • Logistics Division, DPIIT, has initiated an endeavour to estimate Logistics cost, since no official estimates available and they vary from 8-14% of GDP.
      • In the past studies in private sector (Armstrong & Armstrong and NCAER):
        • Armstrong & Armstrong - 13% of GDP;
        • NCAER, 2018 - 8.10% of GDP.
      • Hence a need was felt for developing accurate estimates based on holistic data and relevant statistical models.

      STEPS TAKEN:

      • In March 2023, Government organized a workshop with international experts to brainstorm on best practices.
      • Task Force with members including Senior Officials from concerned line Ministries and experts from academia, industry and think tanks, notified in March 2023.
      • Several meetings of Task Force held.
      • Using secondary data available in public domain baseline estimates for logistics cost achieved (using MOSPI’s Supply Use Tables). A long-term survey-based framework for logistics cost calculation developed.
      • Despite data limitations (data available in public domain is mainly aggregated estimates of transportation cost). This estimate will be used as a baseline for carrying out comprehensive trend analysis in future. This long-term survey-based study will help in arriving at robust logistics cost estimates at a disaggregated level so that targeted interventions across sectors / modes can be undertaken.

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