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    Govt sets LPG production targets for refiners; Reliance gets largest quota
    PM urges MSMEs to tap opportunities from FTAs
    PM urges farmers to adopt 'chemical-free farming' to tap rising global demand for such food items
    Govt rolls out foreign asset disclosure scheme for small taxpayers
    Need one or two Indian pharma firms to be among global top 5: PM Modi
    Small taxpayers with€™ foreign assets to face 30 pc tax plus penalty; disclosure scheme opens till Dec 31
    PM urges MSMEs to tap opportunities from FTAs
    Govt cuts windfall gains tax on petrol, diesel, ATF exports
    Modi warns of weaponisation of resources, sea routes; urges energy self-reliance
    Current account deficit widens to USD 6.2 bn in Jun: RBI data
    Concessional swap facility attracts USD 56.85 bn forex inflows: RBI
    DFS Highlights Mechanism for Timely Redressal of Insurance Policyholders’ Grievances
    Forex kitty jumps USD 14.14 bn to USD 707 bn in one of the biggest weekly expansions
    PROVISIONAL ESTIMATES OF WHOLESALE PRICE INDEX, OUTPUT PRODUCER PRICE INDEX, AND TRIAL INPUT PRODUCER PRICE INDEX FOR THE MONTH OF JULY 2026, AND FINA...
    Logistics Data Bank Tracks 10 Crore EXIM Containers, Provides Visibility across Logistics Chain
    APEDA and Government of Tripura Organise International Organic Buyer-Seller Meet to Expand Global Market Linkages
    WPI inflation eases to 9.78 pc in July on softening in fuel prices
    IDFC FIRST Bank secures its first international rating with Investment Grade from S&P Global Ratings
    DRI busts illegal drug manufacturing facility in Jewar, UP; 30 kg drugs seized and two persons arrested
    UCO Bank launches IFSC Banking Unit at GIFT City
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    August 16, 2026
    Show AI Summary
    LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
    Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
    August 16, 2026
    Show AI Summary
    Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
    Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
    August 15, 2026
    Show AI Summary
    Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
    Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
    August 15, 2026
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    Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
    FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
    August 15, 2026
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    Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
    Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
    August 15, 2026
    Show AI Summary
    Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
    FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
    August 15, 2026
    Show AI Summary
    Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
    Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
    August 15, 2026
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    Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
    Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
    August 15, 2026
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    Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
    Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.
    August 14, 2026
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    Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
    India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
    August 14, 2026
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    Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
    The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
    August 14, 2026
    Show AI Summary
    Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
    Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
    August 14, 2026
    Show AI Summary
    Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
    India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
    August 14, 2026
    Show AI Summary
    Wholesale and producer price indices show July inflation movements, provisional estimates, final revisions, and manufacturing input-price trends.
    Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.
    August 14, 2026
    Show AI Summary
    Logistics data visibility enables EXIM container tracking, operational analytics and multimodal shipment monitoring across India's logistics chain.
    Logistics Data Bank provides near real-time visibility of India's EXIM container movement through technology-based tracking and stakeholder monitoring tools. RFID-based coverage extends across ports, terminals, inland logistics facilities, rail networks, industrial zones, borders and highways. The platform uses RFID, Internet of Things, Big Data and Cloud technologies, with analytics on dwell time, transit time, and port and terminal performance to identify logistics bottlenecks. LDB 2.0 adds high-seas tracking of export containers and multimodal shipment visibility.
    August 14, 2026
    Show AI Summary
    International organic buyer-seller linkages support Tripura producers through direct sourcing engagement, market access and sustainable export opportunities.
    International Organic Buyer-Seller Meet in Tripura created a direct platform for organic producers, Farmer Producer Organisations, exporters and international buyers to explore sourcing opportunities, market requirements and long-term commercial linkages. Organic and naturally produced goods, including Queen Pineapple, GI-tagged Kalikhasa Rice, organic ginger and turmeric, black sesame, jackfruit and scented lemon, were showcased through product displays and producer interactions. The initiative seeks to strengthen global market access, sourcing partnerships and income opportunities for organic farmers.
    August 14, 2026
    Show AI Summary
    Wholesale price inflation moderation was driven by softer fuel prices, while manufactured goods and primary articles recorded higher inflation.
    Wholesale price inflation moderated in July, led by a decline in fuel and power inflation and a marginal easing in food-article inflation. Inflation in manufactured products and primary articles increased, making the moderation uneven across groups. Mineral oils, food articles, basic metals, non-food articles, food products, and chemical products remained significant inflation drivers. The output Producer Price Index remained unchanged year-on-year, with lower manufacturing and mining inflation offset by higher agriculture and electricity producer-price inflation.
    August 14, 2026
    Show AI Summary
    International investment-grade issuer ratings support expanded foreign-currency funding, trade finance, correspondent banking and cross-border financial market access.
    IDFC FIRST Bank's inaugural international investment-grade issuer credit ratings, with a stable outlook, are expected to improve access to international funding markets and global financial counterparties. The rating is intended to support standby letter of credit lines, foreign-currency funding through its GIFT City International Banking Unit, mobilisation of FCNR(B) deposits, correspondent banking relationships and cross-border trade finance. Strong capitalisation, improving profitability, stable asset quality and a granular retail funding profile underpin the outlook.
    August 14, 2026
    Show AI Summary
    Clandestine psychotropic drug manufacturing faces enforcement targeting precursor chemicals, concealed laboratories, illicit production networks and trafficking operations.
    Enforcement action against clandestine manufacture of psychotropic substances led to the detection of a residential drug-production facility. Searches recovered amphetamine and intermediary forms, precursor chemicals, reagents, raw materials, and manufacturing equipment. Field testing indicated the presence of amphetamine, a psychotropic substance regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985. The recovered apparatus and materials indicated illicit manufacture, while preliminary investigation pointed to short-term, intermittently operated facilities intended to conceal production activities.
    August 13, 2026
    Show AI Summary
    International banking unit expands cross-border financing, trade finance and foreign-currency service access through GIFT City operations.
    UCO Bank has launched an International Financial Services Centre Banking Unit at GIFT City to provide permitted international banking services. The unit offers trade finance, external commercial borrowings, foreign-currency loans, loan syndication, treasury services and other permitted financial services. It serves Indian corporates, exporters, importers, financial institutions, overseas businesses and other eligible customers requiring cross-border financing and access to global financial markets. FCNR(B) deposits are also offered through the unit.

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      Indians abroad celebrate 76th Republic Day; greetings pour in from leaders across world

      January 26, 2025

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      Beijing/Male, Jan 26 (PTI) Leaders from various countries wished India on its 76th Republic Day on Sunday, expressing hopes to strengthen bilateral relations, while the Indian diaspora, adorned in colourful traditional attire, celebrated the occasion with enthusiasm at Indian missions abroad, where the national tri-colour was unfurled.

      Extending his heartfelt greetings and best wishes to President Droupadi Murmu and Prime Minister Narendra Modi, Maldives President Dr Mohamed Muizzu in a post on X said his country will always cherish the strong bonds of friendship and cooperation it shares with India, which is built on mutual trust, respect, and understanding that have "withstood the test of time".

      "I am committed to strengthening our strategic partnership to address common challenges and work for the mutual benefit of people of both our neighbourly nations," he said.

      In his congratulatory message, Nepal Prime Minister KP Sharma Oli in a post on X said may the ideals of democracy and national unity flourish evermore, "fostering deeper ties of friendship between our two nations".

      Nepal's Foreign Minister Arzu Rna Deuba also extended her best wishes to the people and Government of India for continued progress, prosperity, and advancement.

      Bhutanese Prime Minister Tshering Tobgay said, "May the spirit of unity and the vision that shaped your republic continue to drive remarkable achievements and inspire the world." In their respective letters to the Indian leaders, Singapore President Tharman Shanmugaratnam and Prime Minister Lawrence Wong hailed the close relationship that Singapore and India shared, with both looking forward to deepening the partnership between the two countries.

      Australian Foreign Affairs Minister Penny Wong said Australia will continue to work with India to pursue a peaceful and stable region, where sovereignty is respected.

      Nepal's former prime minister and Nepali Congress President Sher Bahadur Deuba in his congratulatory post on X said Nepal and India share a time-honoured bond of friendship, rooted in shared history and values.

      Maldives former president Ibrahim Mohamed Solih said, "It is my firm belief that India’s adherence to the values of democracy and constitutionalism continue to be an inspiration and guiding example for young democracies such as the Maldives." Earlier in the day, the US extended its greetings to India, emphasising the importance of the India-US relationship.

      US Secretary of State Marco Rubio said, "On behalf of the United States of America, I congratulate the people of India as they celebrate their nation's Republic Day...The enduring friendship between our two peoples is the bedrock of our cooperation and propels us forward as we realise the tremendous potential of our economic relationship." "We look forward to deepening our cooperation in the year ahead, including by advancing our joint efforts in space research and coordination within the Quad to promote a free, open, and prosperous Indo-Pacific region," he said.

      Meanwhile, in Beijing, officials and diaspora members attended the flag unfurling ceremony on the premises of the Indian Embassy.

      India's Ambassador to China Pradeep Rawat read out the important parts of the President's speech.

      "Ambassador unfurled tri-colour at @EOIBeijing marking the #76thRepublicDay. He also read the Hon'ble President's Republic Day message to Embassy officials and members of the Indian community who attended the ceremony in large numbers. The event also included vibrant cultural performances," the Indian Embassy in China said in a post on X along with some pictures.

      In Sri Lanka, the island nations' Navy band performed Indian patriotic tunes in a demonstration of the cultural closeness between the two countries.

      "Celebrating #RepublicDay2025. Acting HC @DrSatyanjal unfurled the #Tiranga at India House this morning. Members of the Indian diaspora in Sri Lanka joined the festivities with their patriotic fervour and resolve to realise #ViksitBharat," the High Commission of India in Colombo said in a post on X.

      Acting High Commissioner Satyanjal Pandey and other officials also paid tributes at the IPKF Memorial, honouring Indian soldiers who made the supreme sacrifice for peace and unity in Sri Lanka.

      In Singapore, High Commissioner Shilpak Ambule was joined by an estimated 2,500 Indians living in Singapore to celebrate the 76th Republic Day at the chancery.

      Ambule read the President's message to the country, which updated the Indian diaspora on the country’s progress.

      Students from Indian schools in the city-state sang patriotic songs and performed traditional dances. An exhibition showcased products by the Tribal Cooperative Marketing Development Federation of India Ltd and the 75th anniversary of the adoption of the constitution of India as well as the State Bank of India.

      In Israel, Charge de Affaires, Rajiv Bodwade, unfurled the Indian flag in presence of about two hundred Indians who gathered from across the country to celebrate the Republic Day.

      He read out the President’s address to the nation, and then touched upon regional and bilateral issues in his address to the gathering.

      “We welcome the long awaited hostage and ceasefire deal that brings respite to the hostages and their families. This we believe is the harbinger of a year full of hope and peace," Bodwade said.

      “We do hope of a sustained flow of humanitarian aid to Gaza”, he said emphasising “early and peaceful resolution of the conflict, including release of all hostages, through dialogue and diplomacy”.

      The Charge de Affaires also mentioned the arrival of more than 13,000 Indians to Israel to join the construction sector, around half of whom came through India-Israel Framework signed in November 2023.

      He also appreciated the role of the Indian diaspora and the Indian Jewish community in strengthening bilateral ties, calling them a “powerful link”.

      In Japan, Ambassador Sibi George unfurled the Indian national flag at the ceremony.

      In the Philippines, Ambassador Harsh K Jain unfurled the national flag at the India House and read out the address given by President Droupadi Murmu.

      There were also cultural programmes and the awarding of certificates to the top performers in the Bharat Ko Janiye (BKJ) Quiz. Around 300 people from the Indian diaspora and friends of India attended the function.

      In Indonesia, Republic Day was celebrated with patriotic fervour by the Indian community & friends of India.

      Deputy Chief of Mission Indonesia Bijay Selvaraj also paid homage to Indian martyrs of World War II at the Commonwealth War Memorial, Menteng Pulo Jakarta. PTI TEAM SCY

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