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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
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    Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
    Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
    July 31, 2026
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    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    July 31, 2026
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    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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      Ecuador's conservative incumbent, leftist lawyer advance to presidential runoff

      February 10, 2025

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      Guayaquil (Ecuador), Feb 10 (AP) Ecuador will choose its next president in a runoff election after conservative incumbent Daniel Noboa and leftist lawyer Luisa González garnered enough votes on Sunday to beat 14 other candidates.

      The contest, set for April 13, will be a repeat of the October 2023 snap election that earned Noboa a 16-month presidency.

      Noboa and González are now vying for a full four-year term, promising voters to reduce the widespread criminal activity that upended their lives four years ago.

      The spike in violence across the South American country is tied to the trafficking of cocaine produced in neighbouring Colombia and Peru. So many voters have become crime victims that their personal and collective losses were a determining factor in deciding whether a third president in four years could turn Ecuador around or if Noboa deserved more time in office.

      Noboa, an heir to a fortune built on the banana trade, and González, the protégée of Ecuador's most influential president this century, were the clear front-runners ahead of the election.

      Figures released by Ecuador's National Electoral Council showed that with 80 per cent of ballots tallied, Noboa received more than 3.71 million votes, or 44.43 per cent, while González earned over 3.69 million votes, or 44.17 per cent. The 14 other candidates in the race were far behind them.

      Voting is mandatory in Ecuador. Electoral authorities reported that more than 83 per cent of the roughly 13.7 million eligible voters cast ballots.

      Crime, gangs and extortion Under Noboa's watch, the homicide rate dropped from 46.18 per 100,000 people in 2023 to 38.76 per 100,000 people last year. Still, it remained far higher than the 6.85 per 100,000 people in 2019, and other crimes, such as kidnapping and extortion, have skyrocketed, making people fearful of leaving their homes.

      “For me, this president is disastrous,” said Marta Barres, 35, who went to the voting centre with her three teenage children. “Can he change things in four more years? No. He hasn't done anything.” Barres, who must pay USD 25 a month to a local gang to avoid harassment or worse, said she supported González because she believes she can reduce crime across the board and improve the economy.

      Noboa defeated González in the October 2023 runoff of a snap election that was triggered by the decision of then-President Guillermo Lasso to dissolve the National Assembly and shorten his own mandate as a result.

      Noboa and González, a mentee of former President Rafael Correa, had only served short stints as lawmakers before launching their presidential campaigns that year.

      To win outright Sunday, a candidate needed 50% of the vote or at least 40 per cent with a 10-point lead over the closest challenger.

      More than 100,000 police officers and members of the military were deployed across the country to safeguard the election, including at voting centres. At least 50 officers accompanied Noboa, his wife and their 2-year-old son to a voting centre where the president cast his ballot in the small Pacific coast community of Olón.

      Testing the limits of laws and norms of governing Noboa, 37, opened an event organizing company when he was 18 and then joined his father's Noboa Corp., where he held management positions in the shipping, logistics and commercial areas. His political career began in 2021, when he won a seat in the National Assembly and chaired its Economic Development Commission.

      As president over the past 15 months, some of his mano dura, or heavy-handed, tactics to reduce crime have come under scrutiny inside and outside the country for testing the limits of laws and norms of governing.

      His questioned tactics include the state of internal armed conflict he declared in January 2024 in order to mobilise the military in places where organised crime has taken hold, as well as last year's approval of a police raid on Mexico's embassy in the capital, Quito, to arrest former Vice President Jorge Glas, a convicted criminal and fugitive who had been living there for months.

      His head-on approach, however, is also earning him votes.

      “Noboa is the only person hitting organised crime hard,” retiree German Rizzo, who voted to get the president reelected, said outside a polling station in Samborondón, an upper-class area with gated communities separated from the port city of Guayaquil by a river.

      Things are not going to change González, 47, held various government jobs during the presidency of Correa, who led Ecuador from 2007 through 2017 with free-spending socially conservative policies and grew increasingly authoritarian in his last years as president. He was sentenced to prison in absentia in 2020 in a corruption scandal.

      González was a lawmaker from 2021 until May 2023, when Lasso dissolved the National Assembly. She was unknown to most voters until Correa's party picked her as its presidential candidate for the snap election.

      Quito's University of the Americas professor Maria Cristina Bayas said Sunday's result was “a triumph” for Correa's party because pre-election polls projected a wider difference between Noboa and González.

      Esteban Ron, dean of the Faculty of Social and Legal Sciences at the International University SEK in Quito, said Noboa will be forced to reengineer his campaign at the risk that he may have already reached his vote ceiling. Ron attributed the outcome to the problems Noboa faced during his administration.

      Waiting for her turn to vote in Guayaquil, architecture student Keila Torres said she had not yet decided who to vote for. None, she said, will be able to lower crime across Ecuador due to deep-rooted government corruption.

      “If I could, I wouldn't be here,” said Torres, who witnessed three robberies in public buses over the past four years and barely escaped a carjacking in December. “Things are not going to change.” (AP) PY PY

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