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    Union Minister of Commerce and Industry Shri Piyush Goyal to Visit the United States to Participate in G20 Trade Ministers’ Meeting
    14th India-UAE High Level Joint Task Force Meeting Held in Mumbai
    CBDT extends due date for furnishing Return of Income for AY 2026-27 in respect of persons subject to audit under the Income-tax Act, 1961
    DRI busts pan-India gold smuggling network and seizes around 6.6 kg of foreign-origin gold worth more than Rs. 10 crore; 11, including a mastermind, a...
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September 28, 2026
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Rules-based multilateral trade engagement supports bilateral agreement negotiations, enterprise opportunities, investment partnerships, and developing-country policy space.
India's G20 trade engagement promotes a rules-based, open and non-discriminatory multilateral trading system while preserving policy space for developing countries. Bilateral discussions seek to expand opportunities for farmers, fishermen, women entrepreneurs, startups, MSMEs and other enterprises. India-United States engagement is intended to advance a balanced Bilateral Trade Agreement and an interim trade deal, alongside investment and industry outreach promoting manufacturing partnerships with Indian enterprises.
September 28, 2026
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Cross-border investment facilitation under CEPA supports local-currency settlement, payment integration, joint projects and timely resolution of investor concerns.
Financial-sector cooperation covers local-currency settlement, integration of payment and messaging systems, and central-bank digital currencies, with steps to support timely implementation for more efficient, accessible and resilient bilateral trade and investment. The UAE-India Fast Track Mechanism remains available for addressing outstanding concerns affecting investments and companies in both jurisdictions, and the parties agreed to support timely resolution of such matters.
September 28, 2026
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Return filing and tax audit deadlines are extended for the identified taxpayer category under the applicable statutory framework.
CBDT extends the Assessment Year 2026-27 Return of Income filing deadline for persons identified at serial no. 2 in the Table below Explanation 2 to section 139(1) of the Income-tax Act, 1961, from 31 October 2026 to 21 November 2026. The specified date for furnishing the audit report for the same class is extended from 30 September 2026 to 21 October 2026.
September 28, 2026
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Courier-based gold smuggling enforcement targets concealed distribution through paper entities and foreign-origin gold consignments nationwide.
Coordinated customs enforcement targeted an organised gold-smuggling network that used courier consignments to distribute foreign-origin gold after cross-border entry. The operation led to seizure of 6.61 kg of gold bars under the Customs Act, 1962, and arrests of eleven associated persons. The network allegedly split gold into small consignments and used paper entities or persons without legitimate gold transactions to conceal distribution through courier channels.
September 28, 2026
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Anti-drug awareness and cultivator outreach combine prevention, direct grievance redressal, and safeguards against illicit narcotics diversion.
Jan Sunwayi programmes provide direct, prompt and accessible grievance redressal for opium cultivators, including name corrections, Namantaran, and eligibility connected with the upcoming Settlement Operation. Cultivators are advised to avoid middlemen or intermediaries and seek clarification or assistance directly. These measures complement anti-drug awareness and preventive outreach aimed at preventing illegal trafficking, diversion and abuse of narcotic drugs and psychotropic substances.
September 28, 2026
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NDPS enforcement targets concealed poppy straw, opium and cannabis trafficking through seizures, arrests, and continuing supply-chain investigation.
Narcotics enforcement operations in Rajasthan led to seizures of poppy straw, opium, hydroponic cannabis, cash, vehicles and a loaded country-made pistol, with four arrests. Poppy straw was recovered from vehicles and premises, including a truck where it was concealed beneath cement bags. Opium and cash were recovered from residential premises, while hydroponic cannabis concealed in an international parcel was recovered at the Foreign Post Office, Jaipur. The seized articles were taken under relevant provisions of the Narcotic Drugs and Psychotropic Substances Act, 1985, and supply-chain investigation continues.
September 28, 2026
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Free trade agreement market access is positioned to expand export opportunities and international investment for local entrepreneurs.
Free Trade Agreement-led market access is positioned to expand international opportunities for entrepreneurs in Uttar Pradesh by supporting exports, investment inflows and access to overseas markets. International trade engagement is supported through direct business access to global markets, buyer-seller meetings and promotion of the State's products, cuisines and services. Export expansion, international investment, tourism and global recognition of State brands form the stated next phase of economic development, supported by coordination between governments and trade and industrial stakeholders.
September 28, 2026
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Multilateral infrastructure cooperation guides annual development bank participation and bilateral engagement on sustainable investment and economic connectivity.
The official visit includes participation, as India's Governor, in the Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank, alongside bilateral meetings and engagement with governmental leadership, business leaders and investors. The AIIB focuses on sustainable infrastructure and productive-sector investment in Asia to promote sustainable economic development, wealth creation and infrastructure connectivity.
September 25, 2026
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Reciprocal trade agreement negotiations face tariff and subsidy pressures as both governments pursue lower bilateral trade barriers.
India-US bilateral trade negotiations seek completion of the first-phase Bilateral Trade Agreement through a reciprocal trade arrangement lowering trade barriers and tariffs. Further negotiations are required because of changed US tariff conditions, forced-labour tariffs on Indian goods, a possible investigation into excess industrial capacity and subsidies, and sanctions legislation relating to Russia. Ministerial and bilateral engagements will review progress on the proposed reciprocal arrangement.
September 25, 2026
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Banking strike contingency measures direct customers toward advance transactions and digital channels as branch operations may be disrupted.
Banking-service continuity measures anticipate possible disruption from a three-day employee strike. Customers are advised to complete essential transactions in advance and use ATMs/ADWMs, mobile and internet banking, UPI, business correspondent points and other digital channels. Branch and office operations at participating institutions may be affected, while essential services are to be maintained where possible. Union demands include a five-day banking week, pension improvements and transition options from the National Pension System to the old pension scheme.
September 25, 2026
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Government borrowing calendar: Reduced dated-securities borrowing will use weekly auctions, green bonds, switches and buyback operations.
Second-half dated-security borrowing will be completed through weekly auctions across maturities ranging from 3 years to 50 years, including Sovereign Green Bonds. Switching and buyback operations will continue to smooth the redemption profile, while a greenshoe option may permit retention of additional subscriptions. Treasury Bill borrowing will proceed through 91-day, 182-day and 364-day instruments. Auctions will offer non-competitive bidding for specified retail investors, and flexibility is retained to modify issuance terms or introduce non-standard maturity instruments, floating-rate bonds and inflation-indexed bonds.
September 25, 2026
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Interest-free working capital assistance for FCV tobacco growers supports liquidity, institutional loan repayment, crop inputs, and reduced private borrowing.
A one-time, interest-free working-capital loan of Rs. 50,000 per barn is approved for FCV tobacco growers in Andhra Pradesh under the Interest-Free Working Capital Assistance Scheme. Covering about 44,000 growers, the assistance is proposed to be delivered through direct benefit transfer. It is intended to provide liquidity for household requirements, institutional loan repayment and crop inputs, while reducing dependence on private borrowing.
September 25, 2026
Show AI Summary
Government securities auction calendar establishes retail bidding access, flexible issuance terms, greenshoe subscriptions, and periodic debt switch operations.
Each auction carries a non-competitive bidding facility, under which five per cent of the notified amount is reserved for specified retail investors. The Government may modify indicated amounts, issuance periods and maturities, and may issue instruments with non-standard maturities, floating-rate bonds or inflation-indexed bonds, having regard to governmental requirements, market conditions and other relevant factors. It may retain additional subscriptions through a greenshoe option and conduct switch or buyback auctions of dated securities.
September 25, 2026
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Market borrowing plan sets dated securities auctions, Treasury Bill issuance, redemption management, and temporary cash-flow support.
Government market borrowing for the second half of FY 2026-27 is to be raised through weekly auctions of dated securities, including Sovereign Green Bonds, across maturities from 3 to 50 years. Debt-management measures include switching and buyback operations to smooth the redemption profile and a greenshoe option for additional subscriptions. Treasury Bills are to be issued through weekly auctions in 91-day, 182-day and 364-day maturities. The Ways and Means Advances limit is fixed to address temporary mismatches in government accounts.
September 25, 2026
Show AI Summary
GI-tagged agricultural exports expand farmer access to international markets through FPO-led value chains and higher price realisation.
APEDA facilitated the export of a one-metric-tonne consignment of GI-tagged Gulbarga Tur Dal from Karnataka to the Maldives through an FPO-led brand. Gulbarga Tur Dal has held GI registration since 2019. The export-linked channel provides farmers a realisation of Rs.82 per kg compared with a prevailing market price of Rs.60 per kg, while supporting closer integration of FPOs and farmers into export-oriented supply chains.
September 25, 2026
Show AI Summary
Trader welfare policy discussions covered GST reform, digital commerce, finance access, export promotion, and coordinated institutional support.
Deliberations covered GST rationalisation, refund delays, audit duration, amnesty schemes, input tax credit anomalies and pending appeals, alongside proposed inclusion of traders in MSME facilitation committees, a centralised loan portal with a 30-day timeline, CIBIL score reforms and grievance helplines. Trader welfare measures considered timely contractor payments, safeguards against technical penalties, loan-repayment flexibility during lean periods and stronger Centre-State coordination.
September 25, 2026
Show AI Summary
Gold smuggling through powdered gold concealed in food products led to seizure and arrests under customs law.
Intelligence-led interception and baggage examination identified foreign-origin gold converted into fine powder and mixed with packaged food products of similar colour, texture and consistency. Segregation and assaying yielded 9.40 kg foreign-origin gold, which was seized under the Customs Act, 1962. Questioning linked the passengers to the same organised gold-smuggling syndicate, and they were arrested under that Act.
September 25, 2026
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Customs seizure of suspected smuggled areca nuts and restricted poppy seeds followed intelligence-led cross-border enforcement operations.
Intelligence-led customs enforcement in Mizoram and Assam resulted in seizure, under the Customs Act, 1962, of suspected foreign-origin areca nuts and poppy seeds believed on preliminary inquiry to have been smuggled from Myanmar. Searches of locked, unattended godowns near the Indo-Myanmar border recovered the commodities, while interception of two trucks carrying poppy seeds without valid import documents led to seizure of the consignments and vehicles. Four persons connected with transportation of the poppy seeds were arrested.
September 25, 2026
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Industrial control system cybersecurity certification validates system-level protection across wind farm controls, networks, and lifecycle security services.
IEC 62443-3-3 Security Level 2 certification applies to a wind farm control system covering SCADA, PPC, PLC and industrial network devices. It assesses system-level security requirements, including the interaction of components, networks and security mechanisms within an overall industrial control environment. The cybersecurity framework also spans secure development, certified core control components, system-level protection, and security integration and maintenance services across the lifecycle of wind energy technologies.
September 25, 2026
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Foreign exchange reserve composition reflects a weekly decline driven by foreign currency assets despite a modest gold increase.
India's foreign exchange reserves declined by USD 14.881 billion to USD 765.901 billion for the week ended 18 September 2026. The contraction was principally driven by a reduction in foreign currency assets, which also reflect valuation effects from movements in non-US reserve currencies. Gold reserves increased, while Special Drawing Rights decreased and the reserve position with the International Monetary Fund remained reported separately.

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Customs & Trade

Trump's trade war among allies triggers retaliation from Canada, Mexico

February 2, 2025

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Toronto, Feb 2 (AP) Canada's prime minister and Mexico's president ordered retaliatory tariffs on goods from the US, following through with their threats after US President Donald Trump sparked a trade war by imposing sweeping tariffs on imports from Canada, Mexico and China.

Canada had been proactively saying for months that it would respond to any tariffs on Washington's North American allies, while Mexico followed a more cautious approach. But in the end both nations did what they had anticipated: retaliate.

Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum spoke by phone Saturday after Trump's administration imposed sweeping tariffs — 25 per cent on goods from Canada and Mexico, and 10 per cent on imports from China — although there is still no indication the two countries are coordinating responses or will do concerted actions in coming days.

Unlike Mexico, whose president only announced it will impose retaliatory tariffs without mentioning any rate nor products, Trudeau announced Canada will respond with 25 per cent tariffs against USD 155 billion worth of American goods, including alcohol, furniture and orange juice, and he even suggested Canadians should not buy US products or vacation in the US.

Canada and Mexico ordered the tariffs late Saturday despite Trump's further threat to increase the duties charged if retaliatory levies are placed on American goods.

“We don't want to be here. We didn't ask for this. But we will not back down,” Trudeau said late Saturday. “We're certainly not looking to escalate but we will stand up for Canada.” At the local level, some authorities in provinces like Ontario, British Columbia and Nova Scotia will remove American liquor brands from government store shelves. Ontario Premier Doug Ford said Sunday every year, the Liquor Control Board of Ontario sells nearly USD 1 billion worth of American wine, beer, spirits and seltzers.

“Not anymore,” Ford said in a statement. “Starting Tuesday, we're removing American products from LCBO shelves. As the only wholesaler of alcohol in the province, LCBO will also remove American products from its catalogue so other Ontario-based restaurants and retailers can't order or restock US products.” And besides the official responses, people are already thinking on their own ways to face Trump's decision, and one of the initial reactions has been to share in social media lists with alternatives to American products.

Trudeau, in fact, addressed Americans directly, saying they the tariffs “will have real consequences for you.” “Careful Trudeau. The Texas economy is larger than Canada's. And we're not afraid to use it.” Texas Republican Governor Greg Abbott posted on X after Trudeau spoke.

Canadians are feeling an undeniable sense of betrayal from their one-time closest allies and friends. Trudeau reminded Americans that Canadian troops fought alongside them in Afghanistan and helped respond to myriad crises from wildfires in California to Hurricane Katrina.

Canadian hockey fans booed the American national anthem at two National Hockey League games on Saturday night.

In Mexico, the official public approach to Trump's tariff threat has been different , limiting public statements to saying the government was prepared for whatever was coming and that it would ensure the country was respected.

Recalling how in 2019 Mexico was ultimately able to avoid Trump's tariff threat by adding immigration control to the responsibilities of its newly formed National Guard, Mexico was hoping to dodge the tariffs again or at least find a way to get them lifted quickly.

But the accusation of criminal alliances with Sheinbaum's administration pushed her to punch back. She called on the US to clean up its own problems with drugs and guns and keep its nose out of Mexico. Trump said he was imposing the tariffs to stop the flow of illegal immigrants and drugs across both the southern and northern US borders.

Beyond the tariffs, academics and diplomats in Mexico harshly criticised the “retaliation clause” Trump included that threatened to raise tariff levels even higher if the targets hit back.

Martha Bárcena, former Mexico ambassador to the US during Trump's first term, said it's “very delicate because there has never been such a harsh official statement by the United States government against the Mexican government.” “It indicates not only a lack of trust, but the consideration of the Mexican government as a national security threat to the United States with all of its implications,” Bárcena said.

The tariff announcement already stirred anxiety in some corners of Mexico.

Thor Salayandia, leader of a business collective in Ciudad Juarez along Mexico's northern border, said the tariffs “are going to cause more havoc along the border because 60 per cent of the formal employment is in the assembly plants.” “That factories that are able to go are going to go,” he said.

Gabriela Siller, director of economic analysis at the Mexican financial group Banco Base, said that the tariffs could trigger an “economic crisis” in Mexico, resulting in a blow for key industries, rising unemployment and price hikes.

In the short term, Sheinbaum's government would likely have to “apply a countercyclical fiscal policy in Mexico so that there would not be a crash” and take on mounting debt, Siller said.

In the long term, the government would need to seek out new trade agreements, but over-dependence on trade ties with the US will make it hard for Mexico to quickly diversify exports, she said.

After Trump won the election in November, Canadian leaders openly said Mexico was the problem on trade and the border, not Canada. And some have continued to say so.

“I can assure you what President Trump underestimates -- the resilience of the Canadian people, the strength of the Canadian people. No matter what political stripe, we come from Canada, we're united," Ontario Premier Doug Ford said. “I can tell the American people, Canada is not the problem. The problem is the Mexican border and China. That's where the problem is.” The trade war comes as Canada is entering an election cycle. Trudeau's Liberal Party will announce a new leader on March 9 and a spring election is expected.

“The tariffs imposed by the United States today are a clear violation of our trade agreements and require the most serious trade and economic responses in our history,” said Mark Carney, considered the frontrunner to replace Trudeau.

“Canada will not bow down to a bully.” (AP) GSP

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