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    Govt hikes windfall gains tax on petrol, diesel, ATF exports
    No guidelines to regulate online astrology platforms: Consumer affairs department to CIC
    Yellow.ai, a Global Leader in Enterprise Agentic AI, to Go Public via $550 Million Merger with Bluerock Acquisition Corp.
    Shri Piyush Goyal Invites Indian and Uzbek Businesses to Co-invest and Co-manufacture; Calls for Doubling Bilateral Trade at India-Uzbekistan Business...
    Every ₹1 invested under Kisan Credit Card– Modified Interest Subvention Scheme (KCC-MISS) contributes ₹2.30 to net value addition in the...
    India achieves near-universal banking coverage, with 99.92% of inhabited villages now served by a banking outlet
    Rupee rises for 6th day, gains 12 paise to 95.31 against US dollar as crude drops
    ACE Software Posts Earnings Turnaround; Standalone Profit Before Tax Up 43% YoY
    Rajya Sabha passes bill to tackle payment delays faced by MSMEs amid Opposition protests
    MPC's 3-day meeting begins amid expectations of status quo on interest rates
    Trane Technologies Reports Strong Second Quarter Results; Raises Full-Year Revenue and EPS Guidance
    CBN dismantles inter-state counterfeit drug network in Bihar under Operation Vajra; mastermind arrested
    DRI seizes quantities of gold; drugs, e-cigarettes and other contraband in pan-India Ops; 20 persons, including 5 foreign nationals, arrested
    Union Government releases tax devolution of ₹1,09,019 crore to State Governments, as one advance instalment to accelerate their capital and deve...
    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
    Rupee rises 31 paise to 95.12 against US dollar in early trade
    Customs seizes 8 kg gold worth over Rs 11 cr at Kerala airports in one week
    Drill, Baby, Drill: India to fund Rs 650 cr per well for 60 deepsea wells to break its oil import habit
    Punjab GST revenue rises 20 pc to Rs 10,447 crore in April-July: Cheema
    India-China trade through Shipli La resumes after six years
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    August 3, 2026
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    Windfall gains tax on petroleum exports increases to discourage exports and preserve domestic fuel availability during regional supply disruptions.
    Special additional excise duty on exports of petrol, diesel and aviation turbine fuel has been increased for the relevant fortnightly period, while existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall gains tax is intended to preserve domestic availability of petroleum products during the West Asia crisis and prevent exporters from benefiting unduly from price differences linked to elevated global crude oil prices.
    August 3, 2026
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    Online Astrology Platform Regulation: consumer department reported no guidelines, while information requests required revised factual disclosures.
    Online astrology platforms were reported as lacking specific regulatory guidelines within the consumer affairs department. The RTI application sought information on alleged unfair trade practices, investigations, complaints, licences, approvals, and applicable rules. The National Consumer Helpline stated that it had not investigated because it functions as a grievance-resolution platform. A revised factual response was required on investigations and complaint data, while queries concerning regulation, licences, approvals, and related investigations were to be transferred to the public authorities likely to hold that information.
    August 3, 2026
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    Business combination disclosure outlines shareholder approval, registration requirements, financing conditions, and forward-looking risks for the proposed public listing.
    The proposed business combination would take Yellow.ai public through a definitive agreement with Bluerock Acquisition Corp., subject to customary closing conditions and shareholder approval. Bluerock intends to file a Form S-4 registration statement containing a proxy statement/prospectus for proxy solicitation and securities issuance in connection with the transaction. The communication is not an offer or solicitation and states that no securities offering may occur without compliance with applicable registration, qualification or exemption requirements. Transaction projections and anticipated benefits are forward-looking statements subject to material risks and uncertainties.
    August 3, 2026
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    Bilateral investment and trade facilitation drive proposed co-investment, digital cooperation and advanced manufacturing partnerships between Indian and Uzbek businesses.
    India-Uzbekistan cooperation is proposed through co-investment, co-manufacturing and co-innovation, supported by the Bilateral Investment Treaty to promote investor confidence and reciprocal investment. Priority sectors include mining, textiles, healthcare, agriculture, food processing, digital technologies and advanced manufacturing. Trade facilitation measures include reducing trade barriers, mutual recognition of standards, approvals, testing and certification, customs digitalisation and improved trade routes. Regulators and standard-setting bodies are expected to cooperate under a structured, time-bound economic partnership.
    August 3, 2026
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    Concessional agricultural credit supports working capital, crop diversification, allied activities, and digital expansion under the Kisan Credit Card scheme.
    The Kisan Credit Card-Modified Interest Subvention Scheme provides concessional institutional credit to reduce farmers' interest burdens and improve timely working-capital access. The scheme is reported to support cropping intensity, multi-season cultivation, diversified crop portfolios, timely input use, and credit discipline through the Prompt Repayment Incentive. It also supports dairy, livestock, and fisheries-based income diversification. Credit-delivery measures include collateral-free lending, digital platforms, simplified applications, coverage expansion, and awareness campaigns. State-wise data tracks operative accounts, outstanding credit, and non-performing Kisan Credit Card accounts.
    August 3, 2026
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    Banking inclusion expands rural access while digital credit systems and payment security controls address service delivery and cyber fraud.
    Banking inclusion is pursued by providing banking outlets within a five-kilometre radius of inhabited villages, with branch expansion permitted subject to rural-coverage requirements and continuing assessment of uncovered areas. Agricultural credit delivery uses digital loan, beneficiary-verification, processing and claim-settlement systems. Digital payment security measures require minimum controls for payment channels and include fraud-intelligence sharing, artificial-intelligence-based identification of money-mule activity, digital lending-app analysis, cyber-incident reporting, public awareness campaigns and electronic-banking training.
    August 3, 2026
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    Foreign exchange market movement strengthened the rupee as lower crude prices, investment inflows and improved risk sentiment provided support.
    Foreign exchange market movement saw the rupee strengthen for a sixth consecutive trading session against the US dollar, supported by declining global crude oil prices, a softer dollar, foreign institutional investment inflows and gains in domestic equity markets. Improved global risk sentiment followed the decision to defer planned US military strikes against Iran and allow diplomatic engagement. Renewed geopolitical tensions were identified as a factor that could limit further appreciation.
    August 3, 2026
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    Quarterly financial performance reflects revenue growth, improved standalone profitability, and continued investment in AI-led digital technology platforms.
    Quarterly financial performance reported revenue growth in standalone and consolidated operations, higher standalone profit before tax, and a return to consolidated profitability. The company continues to invest in an AI-led, intellectual-property-driven digital technology strategy through enterprise software, SaaS platforms, digital commerce, cloud, data and AI solutions. Its priorities include scalable platforms, proprietary technology assets, recurring-revenue offerings, partnerships and selective acquisitions. Complete financial results, notes to accounts and regulatory disclosures are available through exchange filings and the company website.
    August 3, 2026
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    MSME delayed-payment reforms strengthen award recovery, faster dispute adjudication, invoice discounting, and interim supplier payment protection.
    MSME delayed-payment reforms seek faster adjudication, strengthened recovery and improved liquidity for enterprise suppliers. Courts may direct payment of at least half of an awarded amount where a setting-aside application remains pending beyond six months. Mediated settlements and arbitral awards may be recovered as arrears of land revenue and recognised as legally enforceable debts under the insolvency framework. The measures also provide graded penalties, voluntary digital registration, invoice settlement through the Trade Receivables Discounting System, and additional Facilitation Councils.
    August 3, 2026
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    Monetary policy rate setting remains cautious as inflation, liquidity, growth and global uncertainty shape the policy stance.
    Monetary policy rate setting is expected to remain cautious amid global uncertainty, rising inflation risks and steady domestic growth. The inflation outlook is affected by energy-price pass-through, higher input costs, and seasonal and monsoon-related food-price pressures. Policy decisions are expected to remain data-dependent, guided primarily by domestic inflation, liquidity conditions and economic growth. A cautious or neutral stance is identified as preferable while external risks and inflation developments persist.
    August 3, 2026
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    Forward-looking financial disclosure raises revenue and earnings guidance while describing non-GAAP measures, capital allocation, and material business risks.
    Financial performance reporting identifies increased bookings, revenue growth, continuing earnings, and backlog, with segment-level operating and margin measures. The release addresses cash flow, capital allocation through dividends, acquisitions and share repurchases, and increased full-year revenue and earnings guidance. Forward-looking statements concerning financial performance, operations, demand, liquidity and capital deployment are subject to identified risks and uncertainties. Non-GAAP measures are presented as supplemental to GAAP measures, with definitions and reconciliations stated to be available in accompanying materials.
    August 3, 2026
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    Counterfeit drug enforcement targets illicit manufacture, storage and trafficking networks, with coordinated seizures and referral of non-narcotic stock.
    Counterfeit-drug enforcement under Operation Vajra addressed an inter-state network involved in the illicit manufacture, storage and distribution of narcotic drugs, psychotropic substances and spurious pharmaceutical products. Searches of unregistered godowns recovered narcotic products, unauthorisedly manufactured Buprenorphine injection ampoules, and counterfeit non-NDPS medicines. A farmhouse-based illicit manufacturing facility was dismantled, with machinery, chemicals and related materials seized under the NDPS Act, 1985.
    August 3, 2026
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    Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
    Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
    August 3, 2026
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    Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
    Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
    August 3, 2026
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    Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
    Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
    August 3, 2026
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    Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, attributed to lower global crude oil prices, a weaker dollar, sustained foreign portfolio inflows, higher foreign exchange reserves, and Reserve Bank of India presence in the foreign exchange market. Domestic equity market gains and net foreign institutional equity purchases were also identified as supporting factors.
    August 2, 2026
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    Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
    Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
    August 2, 2026
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    Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
    The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
    August 1, 2026
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    GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
    Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
    August 1, 2026
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    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.

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      WHO Prequalification - exploring opportunities and challenges to Indian IVD manufacturers

      February 11, 2025

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      Mitigating diseases which have significant societal impact starts with an early and accurate diagnosis. Ensuring access to safe, appropriate and affordable in-vitro diagnostics (IVDs) is a key step in improving treatment and reducing disease transmissions and associated deaths.

      The diagnosis and mitigation of diseases plaguing underdeveloped countries are largely overlooked by the developed world. This challenge offers a unique opportunity for Indian IVD manufacturers to step up and enter international markets by leveraging the prequalification process for in vitro diagnostic products (IVDs) offered by the World Health Organization.

      What is WHO Prequalification (WHO PQ) of IVDs Prequalification of in-vitro diagnostic devices was launched in 2010 by WHO and the process ensures a pool of prequalified suppliers who offer good quality IVDs to United Nations agencies such as WHO, UNICEF, UNDP and UNFPA as well as to procurement agencies in member states of WHO. WHO PQ aims to promote and facilitate access to safe, appropriate and affordable in vitro diagnostics of good quality equitably. The focus is on IVDs for priority diseases that are appropriate for use in resource-limited settings A Unique Opportunity for Original IVD Manufacturers to Dominate Global Market Share with WHO PQ Mr. Sinto Poulose, an IVD kit manufacturing and regulatory expert from IQZYME Medtech Pvt Ltd explains that WHO prequalification is a unique opportunity for Indian IVD manufacturers to elevate their products to international quality standards. "Only legal or original manufacturers of IVDs that are already commercially available in the market are eligible for the WHO prequalification process," he explains.

      Since rebranded and Original Equipment Manufacturer (OEM) products are not accepted for WHO prequalification, indigenous IVD manufacturers in India have a distinct advantage in successfully qualifying their products.

      However, Mr. Sinto Poulose cautions that navigating the WHO prequalification process is a complex and demanding task, requiring significant investments of time, finances, and resources.

      Challenges Faced by IVD Manufacturers in Acquiring WHO Prequalification (WHO PQ) Approval.

      The stringent assessment process and the significant initial and recurring costs associated with WHO prequalification pose major challenges for many indigenous manufacturers in Asia and Africa.

      Indian IVD manufacturers, despite having access to high-quality raw materials, advanced production equipment, and international quality compliance, often struggle to complete WHO PQ due to a poor understanding of the process. Even when their products meet all compliance requirements, qualifying the manufacturing facility remains a major challenge.

      Additionally, small and medium-sized manufacturers face difficulties in recruiting experienced professionals in regulatory and quality assurance, further hindering their growth and compliance efforts.

      Why Government Support is Essential for WHO Prequalification The biggest challenge for IVD manufacturers in entering the WHO prequalification process is the significant financial burden it imposes. For a single product undergoing full assessment, the WHO prequalification fee is US$ 17,000, while an abridged assessment costs US$ 8,000. In addition, costs incurred in analytical and clinical performance evaluations range between US$ 60,000 to 100,000.

      Schemes targeted to address specific challenges of the IVD industry would provide substantial benefits. Financial aid, subsidies, and partial reimbursement of costs related to WHO prequalification fees, product evaluations, and QMS certifications would empower Indian IVD manufacturers to expand into global markets.

      A Step-by-Step Guide to WHO Prequalification for IVD Manufacturers Manufacturers can successfully meet WHO prequalification requirements with the right guidance and meticulous planning, says Mrs Selma Siyavudeen, quality and regulatory expert from IQZYME Medtech Pvt Ltd. "Whether following the full assessment or abridged assessment route, implementing critical improvements in product quality is an absolute necessity, she emphasizes.

      Key Stages in WHO Prequalification The WHO prequalification process consists of three key stages: 1. Product Dossier Review - Manufacturers must submit a comprehensive dossier providing detailed evidence on product safety, performance, design and manufacturing.

      2. Laboratory Performance Evaluation - Upon dossier acceptance, an independent WHO-listed laboratory assesses the IVD’s performance and operational characteristics using publicly available standard evaluation protocols.

      3. Manufacturing Site Inspection – WHO conducts an on-site audit to verify compliance with ISO 13485:2016 and assess the manufacturer’s capability to reliably supply products to WHO member states.

      WHO Prequalification (WHO PQ) Assessment Process The WHO prequalification assessment follows two distinct routes (a) full assessment and (b) abridged assessment.

      For a full assessment, the manufacturer must undergo all the key stages of evaluation, including product dossier review, laboratory performance evaluation, and manufacturing site inspection.

      The abridged assessment option is available only for products that have already been rigorously evaluated by recognized regulatory agencies such as the European Union, Health Canada, the Therapeutic Goods Administration (Australia), the Ministry of Health, Labour and Welfare (Japan), and the U.S. Food and Drug Administration (FDA). In this route, the manufacturer submits an abridged product dossier, summarizing essential details about its Quality Management System (QMS), product design, performance, and manufacturing process. WHO then considers the existing evidence on performance evaluation, manufacturing site inspection, and labelling review as part of the assessment.

      Does CE Marking Help with WHO Prequalification? Mr. Soio George, an Ex EU Notified Body Auditor and IVDR regulatory expert from I3CGLOBAL Reghelps Pvt Ltd shares his perspective. "Yes, CE Marking under IVDR can support WHO Prequalification but it does not guarantee automatic approval. If a product has already undergone a rigorous evaluation by an EU Notified Body under IVDR 2017/746, it may qualify for an abridged WHO PQ assessment, reducing the need for extensive additional testing.

      However, WHO still requires manufacturers to demonstrate the product’s performance in relevant global health settings. Even with a CE-marked device, compliance with WHO-specific requirements remains essential for successful prequalification." Mr. Soio George further emphasizes that WHO Prequalification does not replace CE Marking, as IVDR has stricter regulatory requirements, particularly concerning clinical evidence and post-market surveillance (PMS) compliance. However, a WHO-prequalified product with strong performance data may support the clinical evidence needed for IVDR certification.

      Consultants for WHO PQ and IVDR CE Marking Navigating the stringent regulatory frameworks of WHO and the EU IVDR requires specialised and experienced professionals with a well-rounded exposure to production, quality, and regulatory affairs—an area where many manufacturers face significant challenges in finding suitable consultancy services In response to this growing need, I3CGLOBAL and IQZYME have entered a technical partnership to provide comprehensive regulatory support to manufacturers worldwide.

      With 25 years of EU and US FDA experience and a team of over 75 permanent employees, I3CGLOBAL brings extensive regulatory expertise. IQZYME, with its strong background in production and quality in the IVD segment, has over 50 permanent employees and a panel of experts, including former CDSCO and WHO auditors. This collaboration forms a robust alliance capable of supporting IVD manufacturers in India and across the globe.

      Through the I3CGLOBAL-IQZYME partnership, manufacturers will receive end-to-end assistance in key areas such as technical dossier preparation, risk assessment, performance evaluation, QMS implementation, and regulatory submissions, enabling them to successfully navigate global market approvals Conclusion The WHO Prequalification process enables IVD manufacturers to meet global standards and expand internationally. Manufacturers focused on quality and proper financial planning can benefit from the I3CGLOBAL-IQZYME partnership for faster WHO PQ and IVDR CE Marking approval (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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