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    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
    PM Modi to inaugurate Bhogapuram Airport in Andhra on Aug 1
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    Closely monitoring: India on US bill seeking up to 100 % tariffs on purchasers of Russian oil
    Delhi HC seeks ED stand on Nayan Raheja's plea against money laundering case
    Rupee appreciates 7 paise to close at 95.43 against US dollar
    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
    PM Modi speaks to UK counterpart Burnham
    Bank credit to industry records robust growth of 19.2 pc in June: RBI data
    Delhi protesters' fingerprints collected from stones for identification via Aadhaar: BJP minister
    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
    Jharkhand signs pact with CSC eStore to make SHG products made by women available online
    APEDA Facilitates First-Ever Air Shipment of Karnataka's Neelam and Totapuri Mangoes to the Maldives
    Favara-UPI Cross-Border Payment Corridor Goes Live Between Maldives and India
    SC upholds NCLAT order setting aside CCI's Rs 301.6-cr penalty on Grasim Industries
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    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
    Show AI Summary
    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
    Show AI Summary
    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.
    July 31, 2026
    Show AI Summary
    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
    July 31, 2026
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    Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
    Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
    July 31, 2026
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    Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
    Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
    July 31, 2026
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    Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
    Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.
    July 31, 2026
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    Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
    Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.

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      Davos beyond WEF: Skiing to Sherlock to Sanatorium

      January 19, 2025

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      Davos, Jan 19 (PTI) As the rich and powerful of the world debate here the 'collaboration in an intelligent age' over the next five days, this small Swiss ski resort town will also offer them its own history to ponder over.

      Be it the menace of misinformation and disinformation posed by deepfakes and other forms of artificial intelligence, conflicts in Ukraine and Gaja or climate change threats from Delhi to Dallas, problems are plenty and all have suddenly reached Davos.

      Once known for health tourism, always frequented by skiing enthusiasts and also home to the Sherlock Homes creator who moved here to help his ailing wife live longer, Davos is also home to the annual week-long pow-wow of global elite in sub-zero temperatures and that has made it into a host for a talkfest for all problems plaguing or facing the world.

      For now, it teems with huge billboards atop buildings and buses, promoting governments and companies, including from India, while the narrow roads made even narrower by heavy snowfall are full of lounges set up by the private and public sectors from multiple countries.

      The five-day World Economic Forum (WEF) Annual Meeting will begin on Monday evening and will continue till Friday, where approximately 3,000 leaders from over 130 countries will discuss innovative strategies to revitalize growth, harness transformative technologies, empower individuals and communities, protect the planet and drive collaboration amid economic fragmentation and geopolitical polarization.

      More than 350 government leaders, including over 60 heads of state and government, will attend the Annual Meeting 2025, sharing their priorities for the year ahead.

      They will be joined by over 1,600 business leaders, as well as civil society representatives, prominent changemakers and key experts to foster inclusive dialogue and forge new partnerships to deliver better outcomes for people, economies and the planet.

      Giving them company in full strength, the heavy snowfall has led to several roads getting closed and serpentine traffic elsewhere and a similar situation is expected throughout the week.

      Flush with nearly three times its usual population, the Swiss resort of Davos is teeming with black business suits for the WEF annual gathering, but it still cannot deter skiing enthusiasts and those coming for medical tourism.

      There are warnings that the snow-laden town in the Swiss Alps can see snow storms and rains with temperatures expected to continue in sub-zero degrees and a lot worse at the higher altitudes.

      But that does not seem to have dampened the spirits of those having come to the annual talkathon of the rich and powerful from across the world -- something that has become synonymous with this place for over five decades now.

      The event has also brought thousands of army, police and other security personnel from across Switzerland and some neighbouring countries as well to secure the summit being attended by nearly 60 heads of states and governments.

      But it has a much older and fascinating history of its own, being a place of eminence for medical tourism as also winter sports.

      Arthur Conan Doyle, creator of the famous detective character Sherlock Holmes, moved to this town along with his ailing wife that reportedly helped her live longer.

      Once famous for being a summer health resort, Davos has gradually emerged as a major winter sports hub on the Alps, but its biggest claim to fame for the past four decades has been the World Economic Forum's annual meeting every January, beginning in 1971.

      The Geneva-based WEF is hosting its 55th annual meeting here beginning Monday, where more than 2.800 leaders from across the world will participate in a high-profile talkfest for five days.

      To cover this global elite jamboree, there are more than 500 journalists and thousands of support staff as well.

      While such a high-profile event leads to all hotels and rental apartments being occupied, the die-hard winter sports fans still throng this place as the WEF week also means relatively smaller crowds in ski areas and on mountain cableways.

      The only drawback for tourists is that they cannot stay within the town, which has less than 10 medium-sized hotels and about 40 small ones, including in nearby areas like Klosters and Dorf.

      Besides, the so-called WAGs and HABs (wives and girlfriends/husbands and boyfriends), as referred to by locals and others privately but as partners on record, of those attending the WEF meet are also around in large numbers on ski circuits and at various tourist destinations of the town that comprises two big parallel roads and numerous connecting alleys.

      Davos' history as a modern and popular holiday destination dates back to 150 years when the first winter guests arrived here in 1865. Till then, it was just a summer mountain health resort with a strong reputation for the treatment of tuberculosis patients.

      One day in February 1865, Doctor Friedrich Unger and Hugo Richter from Germany arrived here and began a course of treatment on a bed made from a hay sledge covered with boards.

      The treatment proved successful and both men were able to return to work. Soon after, Unger returned to Davos and worked as a doctor here for over 20 years.

      Richter married a Davos girl and took over the management of a guest house. Later, he also moved his publishing business to this small town and began printing two local newspapers.

      Another feather in its cap is Davos being home to painter Ernst Ludwig Kirchner, who spent his last 20 years in this town, which is full of many of his finest paintings.

      Besides a museum devoted to Kirchner's work, his paintings can be seen everywhere in Davos.

      Towards the end of his life, Kirchner suffered a major nervous breakdown and spent his last days in a sanatorium in Davos.

      This is the same sanatorium that inspired Noble laureate Thomas Mann's classic novel 'The Magic Mountain'.

      Davos' annual affair with WEF began in 1971 when the Forum was known as the European Management Forum. That year, WEF founder Klaus Schwab invited over 400 European business leaders for a meeting at the Davos Congress Centre under the patronage of the European Commission.

      Subsequently, WEF was formed and leaders from across the world began congregating here at the end of January every year.

      Over the years, the WEF annual meeting at Davos grew larger and has been host to many historic accords and meetings, including one draft agreement on Gaza and Jericho between the then Israel foreign minister Shimon Peres and Palestine Liberation Organisation chairman Yasser Arafat in 1994. In 1988, Greece and Turkey also signed their Davos Declaration here, which saw the two countries avoiding a war, while North and South Korea held their first ministerial-level meetings in Davos in 1989 -- a year that also saw German chancellor Helmut Kohl here discussing German reunification and then the knocking down of the Berlin Wall.

      So far, only once has WEF held its annual meeting outside Davos, when in 2002 it decided to shift the venue to New York to show solidarity with that city and the American public after the 9/11 terrorist attacks.

      Also, the WEF couldn't hold a physical annual meeting in Davos in 2021 due to the Covid pandemic, while the 2022 meeting got postponed to May due to the pandemic.

      India's presence has also been increasing at the Davos meeting, during which hundreds of Indians can be seen strolling on its narrow roads, one of which has been hosting an 'India Adda' for many years, though the official name has changed in recent years quite a few times, including to Make In India lounge and simply India Lounge and India Pavilion, but regulars still prefer to call it by the old name of India Adda. PTI BJ MR

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