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September 25, 2026
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Global value chain integration advances trade partnerships, semiconductor capacity, and deep-tech innovation within broader economic engagement.
India's global economic engagement prioritises trade and economic partnerships to strengthen participation in global value chains and supply chains, facilitating cross-border movement of goods and services. The approach is linked to projected semiconductor demand and development of artificial-intelligence capabilities, alongside innovation, deep-tech startup support and private-sector space activity. The startup ecosystem is described as having expanded substantially, with current policy emphasis on deep-tech innovation and participation in global markets.
September 25, 2026
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Trade agreement review targets balanced, user-friendly, trade-facilitative rules to address asymmetries and strengthen regional commerce.
The ongoing review of the ASEAN-India Trade in Goods Agreement seeks to enhance trade flows, address trade asymmetries, and deliver a balanced, effective, user-friendly, and trade-facilitative arrangement for businesses. It forms part of India's commitment to mutually beneficial trade partnerships and regional trade arrangements.
September 24, 2026
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Portfolio management reforms broaden permitted investments, establish independent fund managers, and retain registered managers' responsibility for client portfolios.
Portfolio-management reforms replace the 2020 framework and expand investments into IPOs, primary-market debt, listed overseas equity and debt, and direct plans of Indian mutual fund schemes. Investment-grade unlisted non-convertible debt may comprise up to 10 per cent of client assets under management with client consent. Independent Fund Managers may operate with registered portfolio managers, which retain responsibility and liability. Accredited-investor eligibility is broadened, while specified compliance requirements are relaxed where adequate audit trails and internal controls exist.
September 24, 2026
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Merchant discount rate on UPI merchant payments may be treated as a taxable payment settlement service with input credit availability.
GST treatment of MDR charged on UPI merchant payments above Rs 2,000 is to be considered by the GST Council. The MDR framework imposes a merchant-borne charge for payment processing and settlement. As these activities are services, MDR may attract GST at 18 per cent, subject to the Council's view. Merchants paying GST on MDR may claim input tax credit, potentially reducing their net tax burden.
September 24, 2026
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Fiscal responsibility limits frame cautions on new projects as budgetary discipline rather than financial crisis.
Finance-department advice treats fiscal indicators as grounds for restraint in approving additional expenditure rather than as evidence that funds are unavailable. Funding new projects may be difficult until additional resources are mobilised or allocations already approved are reallocated. Project proposals lacking budgetary provision or earmarked funding may create cash-flow pressures and fiscal-management challenges, requiring deferment until resources are finalised.
September 24, 2026
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Corporate document forgery allegations trigger investigation into unauthorised insolvency consortium participation and disputed share transfers.
An FIR concerns alleged cheating, forgery, criminal conspiracy, corporate-document misuse, and unauthorised financial liabilities arising from participation in a corporate insolvency resolution process. Allegations include entering a consortium arrangement without the Parekh Group's knowledge or authorisation, reliance on a fabricated and unapproved board resolution, and unauthorised transfer of shares to a group-controlled entity. Investigation covers disputed-record authenticity, alleged digital-signature misuse, and financial transaction trails.
September 24, 2026
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Energy security shapes continued Russian crude sourcing as alternative suppliers replace shortfalls amid potential sanctions-related restrictions.
Russian crude imports are operating near 1.8 million barrels daily in September, with refinery maintenance, stronger Chinese buying, and disruptions to Russian export infrastructure constraining availability. Middle Eastern supply, especially from Iraq and Saudi Arabia, has offset reduced Russian volumes. Potential tougher restrictions on countries purchasing Russian oil could complicate procurement, but energy security and tight physical oil markets make a significant near-term reduction in Russian crude purchases unlikely. Replacement remains technically possible but may raise procurement costs and competition for medium-grade crude.
September 24, 2026
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Direct tax payment gateway integration enables nationwide payments through digital options, branch channels, and customers' respective internet-banking services.
IDFC FIRST Bank's payment-gateway integration for Central Board of Direct Taxes collections enables Direct Tax payments through UPI, credit cards, debit cards, Retail and Corporate Internet Banking, and branch-based cheque, demand draft, or cash payments. Customers of other banks may use their own internet-banking facilities through the gateway. Taxpayers create a challan on the Income Tax e-Filing Portal, select Payment Gateway and IDFC FIRST Bank, choose a payment mode, complete payment, and download or print the paid challan. Payment confirmations are also accessible.
September 24, 2026
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Insurance distribution controls target commissions, expenses and loan-linked sales, reshaping bancassurance arrangements and intermediary remuneration structures.
IRDAI's consultation proposals for insurance distribution contemplate lower Expenses of Management limits, tighter commission controls, and greater control over loan-linked insurance practices. The prospective framework concerns insurer and intermediary remuneration, distribution expenses, and bancassurance fee structures. Reported concerns centre on potential effects on insurer earnings, intermediary economics, and lending-linked distribution arrangements; the measures are not described as final operative obligations or enforcement action.
September 24, 2026
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Personal loan eligibility and repayment planning: loan variants and digital applications remain subject to assessment, verification, and applicable terms.
Eligible customers may seek collateral-free personal loans within stated amount, tenure and interest-rate ranges. Loan amount, interest rate and tenure determine the EMI and total interest payable, while calculator results are estimates rather than final repayment obligations. Eligibility includes nationality, age, employment and credit-score conditions, but approval, final pricing and loan amount remain subject to lender assessment, document verification and applicable terms. Online applications require personal, financial and employment details and KYC verification.
September 24, 2026
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Nidhi company deposits lack insurance protection, requiring verification of government declaration before relying on high-return promises.
Each company seeking to function as a Nidhi must file Form NDH-4 for declaration or updated Nidhi status and comply with the Companies Act, 2013 and applicable Nidhi Rules. Nidhi companies may accept deposits and grant loans only to members. Public investors should verify declared Nidhi status rather than rely on unusually high-return promises, agent representations, or informal assurances. Deposits with Nidhi companies are not insured by the Deposit Insurance and Credit Guarantee Corporation, and recovery may be difficult where a company fails or fraud occurs.
September 24, 2026
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FCNR(B) liquidity deployment remains within banks' discretion, guided by credit pipelines, asset-liability positions, and prudent underwriting standards.
Banks retain full discretion to deploy liquidity mobilised through FCNR(B) deposits, based on their credit pipeline, lending proposals, liquidity outlook and asset-liability position. No sector-specific direction applies to use of these funds. FCNR(B) deposits are fixed-term foreign-currency deposits in which principal and interest are repayable in the same foreign currency, protecting non-resident depositors from direct rupee exchange-rate risk. Continued prudent credit appraisal and underwriting standards are expected.
September 24, 2026
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Compulsory Muslim marriage registration shifts registration to registrars under a statewide procedural framework, with local officials authorised when needed.
Compulsory registration of Muslim marriages will operate under the Assam Muslim Marriage Registration (Compulsory) Rules, 2026, framed under the Assam Compulsory Registration of Muslim Marriage and Divorces Act, 2024. Registration will be undertaken by registrars, with panchayat-level officials potentially authorised where application volumes require additional capacity. The framework addresses the registration forum after kazis were barred from registering Muslim marriages.
September 24, 2026
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Macroeconomic resilience supports fiscal consolidation, financial-sector stability, and orderly foreign-exchange management through persistent global and market shocks.
Policy management emphasises clear communication, policy certainty, macroeconomic and financial-sector stability, efficient use of buffers, and sustained structural reform. Fiscal prudence is treated as necessary to avoid unsustainable stimulus and preserve long-term stability. External-sector resilience rests on services exports and remittances, while oil and gold shocks and weaker capital inflows have created temporary balance-of-payments pressure. Further improvement is linked to lower oil dependence, export diversification, trade agreements, capital inflows and orderly foreign-exchange market management.
September 24, 2026
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Software export growth strengthens IT ecosystem as campus expansion supports startup activity, infrastructure development, and skilled employment.
Software export revenue generated by Technopark reached Rs 17,092 crore in FY 2025-26, reflecting year-on-year growth of approximately 17.3 per cent. Growth is attributed to IT infrastructure, a skilled talent base, and company performance. Technopark also operates as an IT and ITeS hub and startup ecosystem centre, with ongoing campus development intended to expand its position among major IT hubs.
September 24, 2026
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Artificial intelligence centre of excellence partnership advances industry-aligned training, supervised internships, startup mentorship, and applied research collaboration.
IIEST Shibpur and Tata Consultancy Services have entered into a Memorandum of Understanding to establish an Artificial Intelligence Centre of Excellence at the Electrical Engineering Department's high-performance computing laboratory. The collaboration supports industry-aligned training, professional certifications, practical projects, supervised internships, startup mentorship, curriculum benchmarking, and applied research in natural language processing, computer vision, image processing, and advanced data analytics.
September 24, 2026
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Money-laundering searches prompt protests over alleged political misuse while operations continue at public development offices and residences.
Enforcement Directorate search and survey operations connected with a money-laundering investigation continued at development authority offices and premises linked with housing administration, a realty company, and private residences. AAP workers protested against the searches, alleging political and administrative pressure through central investigative agencies. The party further alleged that the operations could disrupt the development authority's functioning and impede Punjab government welfare schemes.
September 24, 2026
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Money-laundering investigation procedure raises allegations over FIR registration, conflict concerns, and the choice between police, vigilance, or federal inquiry.
A police inquiry, rather than a Vigilance inquiry, was directed following an Enforcement Directorate communication seeking registration of an FIR for cognizable offences. It was contended that FIR registration should be dealt with by the police and that governmental or ministerial intervention would raise concerns where a person facing allegations is involved in deciding the investigative course. A transfer to a federal investigative agency was sought on grounds of investigative independence and perceived conflict of interest.
September 24, 2026
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Trade truce extension maintains tariff pauses and export-restriction rollbacks while negotiations continue on broader economic commitments.
United States-China trade relations may remain governed by the Busan Agreement through January 10 under a stated two-month extension, though Chinese official confirmation is pending. The arrangement maintains pauses on elevated tariffs and prior rollbacks of restrictions affecting critical minerals and high-technology exports. Negotiations may produce a broader economic package or further continuation of existing terms, while implementation of agreed commitments is under review. The parties have also proposed reciprocal alerts on AI-related hacking incidents involving national-security concerns.

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Customs & Trade

After talking tough during campaign, Trump appears to ease up on China at start of presidency

January 29, 2025

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Washington, Jan 29 (AP) On the campaign trail last year, President Donald Trump talked tough about imposing tariffs as high as 60 per cent on Chinese goods and threatened to renew the trade war with China that he launched during his first term.

But now that he's back in the White House, Trump appears to be seeking a more nuanced relationship with the country that both Republicans and Democrats have come to see as the gravest foreign policy challenge to the US.

China is also a major trading partner and an economic powerhouse, and it has one of the world's largest military forces.

“We look forward to doing very well with China and getting along with China,” Trump said on Thursday at the World Economic Forum in Davos, Switzerland, in comments that suggested Beijing could help end the war in Ukraine and reduce nuclear arms.

As he moves forward with plans to impose 25 per cent tariffs on Canada and Mexico on February 1, Trump has not set a firm date for China. He's only repeated his plan for a much lower 10 per cent tax on Chinese imports in retaliation for China's production of chemicals used in fentanyl.

On Tuesday, White House press secretary Karoline Leavitt said Trump was “very much still considering" raising tariffs on China on February 1.

Trump, who spoke with Chinese President Xi Jinping days before taking office, seems to be showing restraint and bowing to a more complicated reality than he described while running for office. Speaking of potential tariffs on China in a recent Fox News interview, he said: “They don't want them, and I'd rather not have to use it.” Liu Yawei, senior adviser on China at the Carter Centre in Atlanta, said Trump has become “more pragmatic”.

“The signalling, at least from the election to the inauguration, seems to be more positive than has been expected before,” Liu said. “Hopefully, this positive dynamic can be preserved and continued. Being more pragmatic, less ideological will be good for everyone.” A Chinese expert on American foreign policy acknowledged that there are many “uncertainties and unknowns about the future" of US-China relations. But Da Wei, director of the Centre for International Security and Strategy at Tsinghua University in Beijing, also said Trump's recent change in tone offers "encouraging signals.” In his first term, warm relations were followed by a trade war When Trump first became president in 2017, Xi and Trump got off to a good start. Xi was invited to Trump's Mar-a-Lago resort in Florida. A few months later, he treated Trump to a personal tour of the Palace Museum in the heart of Beijing, only to see Trump launch the trade war the following year.

The US-China relationship soured further over the COVID-19 pandemic, and it hardly improved during President Joe Biden's administration, which saw a controversial visit to the self-governing island of Taiwan by then-House Speaker Nancy Pelosi and a Chinese spy balloon aloft over US territory.

Biden kept Trump's tariffs on Chinese goods and intensified the economic and technological rivalry with export controls, investment curbs and alliance building.

Now it will be up to Trump's top diplomat, Secretary of State Marco Rubio, to help chart a new path for the second term.

During his confirmation hearing, Rubio said China has “lied, cheated, hacked and stolen” its way to global superpower status “at our expense." He called China “the most potent and dangerous near-peer adversary this nation has ever confronted.” Hours after he was sworn in, Rubio met foreign ministers from Australia, Japan and India, sending signals that he would continue to work with the same group of countries that Biden elevated to blunt China's expanding influence and aggression in the Indo-Pacific region.

Yet Rubio, who was twice sanctioned by Beijing and is known for his hawkish views on the Chinese Communist Party, told the Senate Foreign Relations Committee that the U.S. should engage with China because “it's in the interest of global peace and stability.” In a Friday phone call, China's veteran foreign minister issued a veiled warning to Rubio, telling him to behave. Wang Yi conveyed the message in their first conversation since Rubio's confirmation.

“I hope you will act accordingly,” Wang told Rubio, according to a Chinese Foreign Ministry statement that included a Chinese phrase typically used by a teacher or a boss warning a student or employee to be responsible for their actions. Rubio agreed to manage bilateral relations in a “mature and prudent” way, the ministry said.

Members of Congress have noted Trump's seemingly softer attitude toward Beijing.

Rep. Rosa DeLauro, a Democrat from Connecticut, wants to ensure "that Trump does not let China off too easy.” She urged the president to act now on measures that have won broad bipartisan support, including closing a tariff loophole on low-value packages, reviewing outbound investments and setting up a domestic industrial policy agenda.

Beijing seeks opportunities and stays ready to play tough Beijing is seeking opportunities to create more breathing room in its relations with a US president known for his transactional style. Chinese leaders are betting on engaging with Trump directly when his Cabinet members and advisers appear to hold clashing views.

Trump "is the most important person above all those different voices, and he can at least set the tone of future policy”, Da said.

The Tsinghua professor expects Trump and Xi to meet at some point. Effective communication channels will be crucial, Da said, to keep differences from spiralling out of control, as they did in Trump's first term.

“The two presidents can have a good starting point. That's very important,” he said. “But then we need to set up some mechanisms to let the cabinet-level members talk to each other.” That may explain Beijing's friendly overture at the start of the second Trump administration. In response to Trump's inauguration invitation, Xi sent a special representative.

Beijing has also signalled a willingness to be flexible on the future of TikTok, which Trump sought to ban during his first administration. But he has now come to the social media app's rescue, offering more time for its Chinese-based parent company to sell and downplaying TikTok's national security risks.

After Trump said he preferred not to use tariffs on China, the Chinese Foreign Ministry echoed that trade and economic cooperation between the two countries are mutually beneficial.

But Beijing is also ready to play tough, if necessary, after learning a lesson from Trump's first term.

Over the past several years, Beijing has adopted laws and rules that allow it to retaliate quickly and forcefully to any hostile act from the US.

In its toolbox are tariffs, import curbs, export controls, sanctions, measures to limit companies from doing business in China and regulatory reviews aimed at inflicting pain on American businesses and the US economy.

Miles Yu, director of the China Centre at the Hudson Institute, said Trump is now “more nuanced, and more focused, towards China”.

“He's keeping his eyes on the prize, which is to maintain US supremacy without risking open and avoidable confrontation with China, while perfectly willing to walk away from the negotiation table and play the hardball,” Yu said. (AP) PY PY

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