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    DRI seizes over seven kg amphetamine and three kg cocaine as it intensifies crackdown on drug trafficking in country; three arrested
    DRI seizes 13 kg foreign-origin gold worth around Rs. 19.41 crore and dismantles a gold smuggling syndicate in Gujarat; three arrested
    Department of Commerce Organises “Leveraging FTAs” Outreach Programme in Jaipur to Strengthen Export Opportunities
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    APEDA Facilitates Export of 1.755 MT of Organic Palmyra Jaggery Powder from Tamil Nadu to Bulgaria
    Union Commerce and Industry Minister Shri Piyush Goyal Launches National Strategic Trade Command Centre at Vanijya Bhawan
    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman participates in the 114th meeting of the Development Committee Plenary of the W...
    Customs officers detect 148.67 kg hydroponic weed from Bangkok at air cargo complex at IGI Airport
    DRI seizes around 6.2 kg foreign-origin gold; busts sophisticated gold smuggling modus operandi through unaccompanied baggage; three arrested
    Central Bureau of Narcotics (CBN) U.P. Unit holds public hearing to address grievances of opium cultivators
    Directorate of Revenue Intelligence (DRI) and Central Bureau of Narcotics (CBN) destroy 2.87 Hectares (7.08 Acres) of illicit cannabis (ganja) cultiva...
    The cumulative exports (merchandise & services) during April-September 2026-27 are estimated at US$ 476.20 Billion, as compared to US$ 418.31 Billion ...
    Union Minister of Commerce and Industry Shri Piyush Goyal Calls on Youth to Drive India’s AI Journey
    CCI approves acquisition of majority stake in Tribhovandas Bhimji Zaveri Limited by GRT Jewellers (India) Private Limited
    CCI approves the acquisition of certain shareholding in Kids Clinic India by NuageLux BidCo S.à r.l
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October 19, 2026
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Narcotics trafficking enforcement led to airport and road interceptions, baggage concealment detection, seizures, and arrests under the NDPS framework.
Narcotics trafficking enforcement under the Narcotic Drugs and Psychotropic Substances Act, 1985, involved intelligence-led interceptions at Bengaluru and Delhi airports and near Nagpur. Passenger baggage and a backpack were examined, leading to the seizure of amphetamine and cocaine and the arrest of three passengers. The recoveries included amphetamine concealed in baggage, a ladies' suit and a backpack lining, and cocaine contained in transparent packets within baggage.
October 19, 2026
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Gold smuggling syndicate enforcement traces concealed imports through airport handlers, illicit melting, and jewellery-market disposal under customs law.
Directorate of Revenue Intelligence enforcement action identified an organised gold-smuggling syndicate importing foreign-origin gold through Ahmedabad and Surat airports, followed by handover to handlers, intermediary routing, illegal melting, and cash-based supply through an Ahmedabad jewellery outlet. Further searches recovered undocumented foreign-origin gold bars and records concerning smuggled gold linked to a Dubai-based financier. The investigation identified interconnected roles across the movement, processing, and disposal of smuggled gold; three persons were arrested under the Customs Act, 1962.
October 19, 2026
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Free trade agreement utilisation requires origin compliance, product standards, and documentation to secure preferential export market access.
Effective FTA utilisation requires businesses to identify eligible products and markets, assess tariff preferences and rules of origin, and meet applicable quality, certification, documentation and importing-country requirements. Preferential access under agreements with the UAE, Australia, EFTA countries and the United Kingdom remains subject to each agreement's provisions and implementation status. Tariff preferences may improve price competitiveness and facilitate participation in international supply chains where product- and partner-specific conditions are satisfied.
October 19, 2026
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Drug prevention awareness initiatives engage students through health education, interactive activities and pledges supporting a drug-free society.
Mission Yuva Raksha advances preventive drug awareness and demand-reduction efforts among students through programmes at educational institutions in Madhya Pradesh. Sessions addressed the harmful effects of substance abuse on physical and mental health, education, family life and careers, supported by interactive learning activities. Participants were encouraged to avoid drugs, adopt healthy lifestyles, take pledges and support awareness initiatives in their schools, families and communities. Preventive education and youth engagement complement enforcement-oriented work through informed choices and community-based resistance to substance abuse.
October 19, 2026
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Coastal narcotics trafficking enforcement addresses suspected maritime methamphetamine smuggling through seizure, asset recovery, and arrests under drug-control law.
Intelligence-led narcotics enforcement addressed suspected coastal storage and maritime transfer of methamphetamine to Sri Lanka. Searches recovered crystal methamphetamine concealed in foil packets within duffel bags, which was seized under the Narcotic Drugs and Psychotropic Substances Act, 1985. Searches also recovered suspected drug-sale proceeds and vehicles allegedly used in transportation. Persons allegedly involved in organising coastal export, transport, storage and logistics were arrested and remanded to judicial custody.
October 17, 2026
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Centralised audit framework targets lower physical branch audit coverage while preserving regulatory oversight and maintaining remuneration.
For FY 2026-27, audit remuneration is to remain at existing levels. Member banks are advised to accelerate a centralised audit framework to improve cost efficiency while retaining comprehensive risk oversight. Physical statutory branch audit coverage should be reduced to cover 50% of total business, apart from centralised treasury audits. Audit coverage must align with SEBI listing and disclosure requirements and RBI guidelines, supported by a Board-approved policy for the centralised audit roadmap.
October 17, 2026
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Promissory estoppel cannot prevent Government shareholding dilution where enacted legislation imposes no restriction on strategic disinvestment.
Government shareholding in IDBI may be reduced or divested because the IDBI (Repeal) Act, 2003 contains no restriction on dilution of the Government's stake. A proposed amendment to limit dilution was rejected and not incorporated into the enacted law. Parliamentary statements cannot override statutory text, and promissory estoppel cannot be invoked on the basis of legislative debate statements to prevent dilution of Government shareholding. Successive Union Budget speeches also reflected a policy of transformation and strategic disinvestment of IDBI Bank.
October 16, 2026
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Recipient-generated e-invoicing under reverse charge enables eligible taxpayers to obtain IRNs for domestic unregistered supplies and imported services.
Eligible active registered recipients meeting the applicable aggregate annual turnover threshold may report recipient-generated self-invoices for specified reverse-charge domestic supplies from unregistered persons and imports of services. RCMDOM and RCMIMP must be selected as the relevant e-invoice supply types when reporting through an authorised Invoice Registration Portal. Submission and validation of prescribed invoice particulars would generate an Invoice Reference Number, subject to applicable GST provisions, notifications and e-invoice specifications.
October 16, 2026
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Reservation Policy Implementation in public financial institutions was examined through capacity building, practical deliberations, and measures for consistent application.
Implementation of the Government of India's Reservation Policy across public sector banks, public sector insurance companies, sectoral regulators and public financial institutions was addressed through capacity building to support uniform and effective application. Deliberations considered practical implementation issues, operational challenges and actionable measures for consistent policy application, alongside related welfare measures and interactive discussion of implementation questions.
October 16, 2026
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Organic agricultural export certification supports overseas market access for Palmyra Jaggery Powder through export-oriented producer linkages.
APEDA facilitated the maiden sea export of NPOP- and EU-certified organic Palmyra Jaggery Powder from Tamil Nadu to Bulgaria. The initiative seeks to diversify India's organic export basket, create market linkages for traditional Palmyra-based products, and improve producer access through export-oriented value chains. It covers organic cultivation and reports improved price realisation for participating farmers and the manufacturer compared with the domestic market. APEDA supports certified organic and value-added agricultural exports through market development, quality compliance, and overseas buyer linkages.
October 16, 2026
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Data-driven trade governance enables integrated monitoring, application analysis and evidence-based policy inputs through the National Strategic Trade Command Centre.
The National Strategic Trade Command Centre provides an integrated analytics and visualisation platform consolidating trade data to monitor trade indicators, scheme performance, application pendency, processing timelines, regional trends and compliance-related parameters. It enables analysis across national trade performance, Regional Authorities, schemes, products, destination markets and individual applications, subject to role-based access permissions. Initial dashboards cover key trade-facilitation and regulatory processes, including SCOMET, export promotion schemes, certificates of origin, importer-exporter registration and restricted imports and exports.
October 16, 2026
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Private capital mobilisation should use competitive financing, guarantees and risk mitigation to expand productive employment and productivity.
Private capital mobilisation is treated as essential to employment generation and productivity growth. Private enterprises, MSMEs and startups should remain central to job creation, with financing assessed by employment and productivity outcomes rather than volume. Guarantees, risk-mitigation instruments, local-currency financing and lower transaction costs are identified as means to expand affordable and predictable access to capital. Methodologies underlying governance indicators should be transparent, objective, evidence-based and responsive to diverse development experiences.
October 16, 2026
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Narcotics smuggling through misdeclared air cargo triggered seizure, arrest, and ongoing investigation into concealed hydroponic weed imports.
A Bangkok-origin air-cargo consignment declared as PU Tubes was examined on suspicion of mis-declaration. Plastic spools were found to contain concealed cavities holding polythene-wrapped packets of compacted green substance, preliminarily identified as suspected ganja/marijuana and described as hydroponic weed. The concealed substance, packaging and concealment material were seized under the NDPS Act, 1985. One person was arrested, and follow-up searches produced leads for continuing investigation.
October 16, 2026
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Unaccompanied baggage gold smuggling: concealed hardware and insider coordination triggered interception, seizure, and arrests under customs law.
Foreign-origin gold smuggling through the unaccompanied baggage channel involved concealment of gold within hardware items and coordinated retrieval through warehouse personnel and intermediaries. Intelligence-led interception resulted in recovery and seizure of foreign-origin gold concealed in a floor spring, metal locks, a grease gun and a door closer. The arrangement used a trolley secured by a pre-decided number-lock combination, with a warehouse staff member, mediator and receiver allegedly involved in delivery of the concealed gold.
October 16, 2026
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Opium cultivation licensing grievance redressal advances through public hearings, administrative remedies, policy recording, and a planned cultivator helpline.
Opium cultivation licensing grievances were addressed through a public hearing where cultivators raised irrigation, climatic, single-plot licensing, and village-wise allocation concerns. Participants were informed of available legal provisions and administrative remedies. Requests for more licences and larger cultivation plots were considered, with policy matters recorded. A helpline is intended to assist cultivators during the 2026-27 licensing operation.
October 16, 2026
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Illicit cannabis cultivation: crop destruction followed legal formalities, while investigation continues in a remote wildlife sanctuary.
Illicit cannabis cultivation was located by a joint DRI and CBN team across five stretches of remote, densely forested wildlife-sanctuary land near village Jamniapani, Shirpur, District Dhule, Maharashtra. The cultivation covered 2.87 hectares. Following requisite legal formalities, the cannabis crop was destroyed using a rotavator in the presence of Police and Forest Department officials. Investigation remains in progress.
October 15, 2026
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Merchandise and services trade estimates show export growth, import expansion, and a wider combined trade deficit over the reporting period.
Combined trade estimates for April-September 2026-27 show exports of US$ 476.20 billion and imports of US$ 551.13 billion, resulting in a trade deficit of US$ 74.93 billion. Merchandise exports rose to US$ 259.89 billion, while merchandise imports reached US$ 437.53 billion. Estimated services exports were US$ 216.31 billion and services imports were US$ 113.60 billion, producing a services trade surplus of US$ 102.71 billion. September services figures are estimates, and specified earlier-period data were revised using quarterly balance-of-payments data.
October 15, 2026
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Emerging technology skills and resilient supply chains are positioned as foundations for investment competitiveness and inclusive economic growth.
Ministerial policy priorities for India's trade, investment and technology agenda emphasise artificial intelligence, cybersecurity, technology adoption, manufacturing investment and lifelong skill development. Investment competitiveness is linked to political stability, resilient supply chains, and fair and transparent trading practices. The first tranche of a bilateral trade agreement with the United States has been finalised, while final contours and legal drafting continue before operationalisation.
October 14, 2026
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Majority stake acquisition in the jewellery sector receives competition clearance for GRT Jewellers' purchase of Tribhovandas Bhimji Zaveri.
Competition Commission of India approved GRT Jewellers (India) Private Limited's proposed acquisition of a majority stake in Tribhovandas Bhimji Zaveri Limited. The transaction concerns entities operating in the Indian gems and jewellery market, including a private limited acquirer and a publicly listed target engaged in manufacturing and sale of gems and jewellery.
October 14, 2026
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Minority shareholding acquisition in mother and baby healthcare receives competition clearance for a private equity-backed investment.
Competition Commission of India clearance authorises NuageLux BidCo S.a r.l. to acquire approximately 23% of the fully diluted shareholding in Kids Clinic India Ltd. The transaction constitutes an acquisition of a minority equity interest in a healthcare provider operating under the Cloudnine brand. NuageLux BidCo is a Luxembourg-incorporated private limited special purpose vehicle, ultimately controlled by Permira Holdings Ltd.

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Customs & Trade

Iran loosens import restrictions on foreign cars and iPhones, trying to mask its economic woes

February 11, 2025

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Tehran, Feb 11 (AP) All architecture student Amirhossein Azizi wanted for his 19th birthday was the latest iPhone — and for Iran's cash-strapped theocracy, it was just the gift they needed as well.

Just buying a top-of-the-line iPhone 16 Pro Max in Iran's capital cost him on the day 1.6 billion rials ($1,880). An additional 450 million rials ($530) is required for import fees and registration on government-managed mobile phone networks.

“I'm very happy to own one of the most expensive phones in the country," Azizi said. His father, Mohammad, laughed nearby and added: “Maybe if they had to earn the money themselves, they wouldn't be so quick to spend it.” The purchase is only possible after Iran lifted import bans on expensive goods like foreign cars and new iPhones, yielding to public demand for the products while also trying to mask the dire straits of its economy.

While being described as a way to boost Iran's much-vaunted “resistance economy," the decisions trapped Iranians into buying more affordable locally produced vehicles long derided as “death wagons” and boosted the prices of aging, second-hand iPhones.

They also provide Iran with much-needed tax revenues as its government struggles under international sanctions over its nuclear programme. Uncertainty over how US President Donald Trump will deal with Iran also has put pressure on its rial currency, which sits at record lows against the dollar.

Powerful forces within Iran long have been believed to be taking advantage of the sanctions, while those benefiting may just be among the country's most well-off citizens.

"It's more about perception than reality,” Iranian economist Saeed Leilaz said.

Resistance' economics at play Iran's Supreme Leader Ayatollah Ali Khamenei, now 85, first proposed the idea nearly 15 years ago as Tehran faced its first round of intense sanctions over its nuclear program, which the West fears puts the Islamic Republic at the precipice of obtaining an atomic bomb. Iran maintains its program is peaceful — even as it enriches uranium closer than ever to weapons-grade levels.

“Sanctions are not new for us," Khamenei said in a 2010 speech. "All achievements have been made and all the great movements of the people of Iran have been launched while we were under sanctions.” In some ways, it's worked for Iran's ruling clerics since Trump unilaterally reimposed sanctions on Tehran after withdrawing America from the 2015 nuclear deal. Iran struck deals with China to continuing buying its crude oil, likely at a discount.

Those in Iran's paramilitary Revolutionary Guard, which has grown into a major power center under Khamenei, handle the sales — both funding their operations against Israel during the Israel-Hamas war in the Gaza Strip and creating a new wealthy elite loyal to Khamenei.

But for the average person, there's clearly a before and an after for the life under the nuclear deal, which saw Iran agree to drastically limit its enrichment and overall stockpile of uranium.

At the time of the deal, the Iranian rial traded at 32,000 to $1. A decade later, $1 is worth 928,500 rials. The public's savings have evaporated, pushing average Iranians into holding onto gold, real estate and other tangible wealth. Others pursue cryptocurrencies or fall to get-rich schemes.

Iran lifts car and iPhone import restrictions, seeking cash Iran banned the import of foreign cars in 2017, while not allowing iPhones newer than the 13 to be registered on the country's mobile phone networks. The phone decision set off a scramble for older iPhones, boosting their price, while used car prices for foreign models remain high as well.

In the last Persian year ending in March 2024, Iran imported $3.2 billion worth of mobile phones, customs data shows. The cut for high-end iPhones makes them a lucrative option to plug some of the gaping holes in Iran's government spending — though Iran's foreign currency reserves remain low due to sanctions.

“Lifting restrictions on a few platforms or allowing iPhone imports are the kinds of steps the government can take quickly and with minimal cost to create a sense of progress,” said Leilaz, the economist.

Such decisions also provide a quick win for Iran's reformist President Masoud Pezeshkian with Iran's elite — though it doesn't address any of the longer-term economic problems.

For cars, former President Hassan Rouhani banned imports of fully built foreign vehicles in 2018, after Trump unilaterally withdrew America from the nuclear deal. While in theory protecting Iranian foreign reserves, it also backed up local automobile manufacturers, whose products have long been criticised for not meeting international safety and quality standards — hence their “death wagon” monikers.

Experts believe if Iran's government allowed more lower-priced, higher-quality imports, the country's automobile manufacturers would lose their edge. Restrictions still limit the number of foreign cars that can come into the country and tariffs that Pezeshkian wants lowered may have been again placed at 100%.

“Since the number of newly imported cars is still limited, only a few people can afford them," said Saber, a car dealer in Tehran who spoke on condition only his first name be used to be able to discuss the issue frankly. "As a result, imported cars have skyrocketed in price on the open market.” What Trump does carries serious consequences for Iran As Iran's economy worsens, its theocracy worries conditions could again push the public back onto the streets in nationwide protests. That's why officials up to Khamenei have backed the idea of talking again to the West.

While Trump has suggested he wants talks, he signed an executive order Feb. 4 calling for putting “Iran's export of oil to zero,” including to China, which buys Tehran's crude at a discount. It also seeks a “snapback” of United Nations sanctions on Iran over its nuclear program. If implemented, they could decimate Iran at a time where its people are looking for any sign of optimism.

That includes a car show in Tehran in late January that featured foreign brands like Mazda, Nissan and Toyota, all sought after by Iranians. However, even with the change, Iran's economy still must exist in a world where the US dollar reigns supreme and its rial continues to fall.

“This biggest problem in this country is that everything depends on the dollar," said Saeed Maleki, standing among the vehicles at the show. "Today they tell you a car costs 3 billion rials. But after a week or a month will they still sell this for 3 billion? No! They will charge me with the new rates.” (AP) AMS

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