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    Union Minister of Commerce and Industry Shri Piyush Goyal Engages with Leading Finnish Technology and Industrial Companies to Deepen India–Finland P...
    US oil firms sign deals with Iraq to develop alternative shipping routes
    HC transfers probe against ex-MLC Haji Iqbal from UP STF to SFIO
    Rupee rises 12 paise to close at 96.30 against US dollar
    MP industrial corporation, Amazon ink pact to accelerate e-commerce exports
    Following are the top foreign stories at 2015 hours
    Pending civil suits, arbitral claims stand abated after resolution plan approved under IBC: SC
    India'€™s forex kitty jumps USD 964 mn to USD 675.15 bn
    Rupee rises 14 paise to close at 96.28 against US dollar
    Office of Economic Adviser to Release Revised Index of Core Industries Series with Base Year 2022–23
    Fourth Edition of IICA’s National Conference on Responsible Business Conduct (NCRBC) 2026 held in New Delhi
    Reliance promoters raise stake by 0.5 pc through Rs 8,500-9,000 cr worth of share purchases
    US Senate bill seeks 100% tariffs on India, 4 other nations for buying Russian oil
    NRIs can bring USD 70-80 bn into India through FCNR deposits: expert
    NetAcct Solutions Launches Entries ERP Powered by the Entries AI Platform
    Union Minister of Commerce and Industry, Shri Piyush Goyal Leads High-Level Delegation to Finland to Strengthen Trade and Investment Ties
    India Achieves Major Milestone at Codex Commission with Adoption of Three Global Standards for Spices
    Centre for Trade and Investment Law launches guidebook to help Indian MSMEs expand into global markets
    Brazil calls Trump's 25 pc tariff unjustifiable, vows to impose reciprocal tariffs
    Trump administration races clock to rebuild US tariff wall knocked down by SC
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    July 18, 2026
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    India-Finland technology cooperation expands across digital infrastructure, sustainable manufacturing, research partnerships, investment, and emerging industrial technologies.
    India-Finland cooperation was advanced through discussions on telecommunications, digital infrastructure, electronics manufacturing, research and development, innovation, clean technologies, advanced materials, and technology transfer. Further priorities included smart urban infrastructure, sustainable construction, advanced manufacturing, localisation, industrial machinery, clean industrial solutions, and investment. The engagements also explored EV charging infrastructure and reinforced business-to-business linkages for long-term cooperation in technology, sustainable manufacturing, research, and investment.
    July 18, 2026
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    Alternative oil export routes aim to reduce Iraq's reliance on the Strait of Hormuz through pipeline investment and regional transit.
    Alternative oil export routes from Iraq are being pursued through agreements to develop pipeline capacity that can reduce reliance on the Strait of Hormuz. Planned pipelines would support larger-scale exports through Syria and Turkey and strengthen energy-security options amid disrupted maritime shipments. Their timing and viability remain uncertain because cross-border construction requires substantial development and coordination. Existing overland shipments through Syria offer a temporary, but less efficient and more costly, route to European markets. Iraq has emphasised its preference for long-term investment partnerships over project-based contracting.
    July 17, 2026
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    Consolidated fraud investigation requires specialised inquiry where an investor complaint forms part of an alleged shell-company network.
    A fraud investigation concerning an alleged real-estate investment scheme was transferred to the Serious Fraud Investigation Office because the named company was stated to be part of a wider alleged shell-company network already under its examination. The FIR was not quashed, as the complainant's individual transaction had not been investigated. A single specialised inquiry was considered necessary to prevent fragmented or conflicting investigations into an allegedly indivisible fraud scheme.
    July 17, 2026
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    Foreign exchange market movement strengthens the rupee as equity gains and possible central-bank support offset oil-price pressure.
    Foreign exchange market movement saw the rupee appreciate against the US dollar, supported by positive domestic equity-market performance, lower US Treasury yields and reported possible central-bank intervention. Elevated West Asia tensions, higher global crude-oil prices and cautious foreign investment flows continued to pressure the currency. Market attention remained focused on global developments, crude-oil movements and foreign institutional investment activity, alongside an increase in foreign-exchange reserves.
    July 17, 2026
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    E-commerce export promotion supports Madhya Pradesh businesses through global marketplace access, exporter readiness, and a cross-border export roadmap.
    A memorandum of understanding supports Madhya Pradesh businesses, including MSMEs, entrepreneurs, direct-to-consumer brands, manufacturers, weavers, artisans and producers, in accessing international customers through the Amazon Global Selling programme. The collaboration will improve e-commerce export awareness, exporter readiness and knowledge sharing, while developing a state export roadmap with policy and infrastructure recommendations. It will also identify interventions relating to logistics, access to finance, payment reconciliation and regulatory enablers for cross-border exports.
    July 17, 2026
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    Russian oil purchase tariffs and tighter visa oversight reshape trade exposure and immigration compliance for foreign nationals.
    Proposed trade tariffs on purchases of Russian oil would target specified countries, including India and China, while exempting European purchasers of Russian gas. Separately, tighter United States visa regulations for international students, exchange visitors and journalists would end a long-standing arrangement allowing indefinite residence without government oversight. The reported changes may materially affect foreign nationals, including Indian nationals, through differentiated trade treatment and enhanced immigration compliance requirements.
    July 17, 2026
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    Clean slate doctrine extinguishes uncrystallised operational claims and pending proceedings once an approved insolvency resolution plan becomes binding.
    The clean slate doctrine under the Insolvency and Bankruptcy Code is described as abating or extinguishing pending civil suits and arbitration involving pre-insolvency operational claims that had not crystallised into determinable and quantifiable amounts before resolution-plan approval. Claims must be submitted to and determined by the resolution professional, and only crystallised claims incorporated in the approved plan remain payable under its prescribed treatment. Once final, the creditor list and approved plan bind all stakeholders.
    July 17, 2026
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    Foreign exchange reserves rose as foreign currency assets, gold, Special Drawing Rights and IMF reserve position increased.
    Foreign exchange reserves increased during the reporting week, principally because foreign currency assets rose. Reserve components include foreign currency assets, gold reserves, Special Drawing Rights and the reserve position with the International Monetary Fund. Foreign currency assets, expressed in dollar terms, reflect valuation effects arising from movements in non-US currencies held in the reserves. Gold reserves, Special Drawing Rights and the reserve position with the International Monetary Fund also increased.
    July 17, 2026
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    Rupee exchange-rate movement stabilised after possible central bank intervention, while oil prices and foreign fund flows sustained pressure.
    The rupee strengthened against the US dollar following four declining sessions, reportedly amid possible Reserve Bank of India intervention. Elevated West Asia tensions, higher crude-oil prices and cautious foreign fund flows continued to weigh on the currency, despite consolidation in the absence of major domestic triggers. Market participants were expected to monitor global developments, crude-oil movements and foreign institutional investor activity for the next directional move.
    July 17, 2026
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    Revised Index of Core Industries adopts a new base year, adds Iron Ore, and aligns production measurement methodology.
    The revised Index of Core Industries adopts 2022-23 as its base year and replaces the 2011-12 series. Its weights are derived from the 2022-23 Index of Industrial Production and redistributed pro rata to total 100. Iron Ore is added as a core industry, expanding the basket to nine industries. The Steel Index will use gross production data for consistency with the Index of Industrial Production. In the Coal sector, only Raw Coal is retained; Coal Middlings and Washed Coal are excluded to prevent double counting.
    July 17, 2026
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    Sustainability reporting discipline requires credible disclosures, board-level integration, data assurance and proportionate ESG implementation across business value chains.
    ESG-led responsible business conduct requires sustainability disclosures that are relevant, comparable, evidence-based and verifiable, supported by reliable systems, internal controls, documentation, traceability and independent examination. Sustainability should be integrated into board-level decision-making, fiduciary responsibilities, risk management and long-term enterprise value. Stronger governance, accountability and data-assurance frameworks are needed to address greenwashing, with proportionate reporting, technology and capacity-building supporting implementation across value chains and MSMEs.
    July 17, 2026
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    Promoter shareholding increase through market purchases remains within creeping acquisition limits and signals confidence in long-term growth prospects.
    Promoter and promoter-group shareholding in Reliance Industries Ltd increased by nearly 0.5 percentage points through market purchases during the June quarter. The purchases were reported to be within SEBI creeping acquisition limits, allowing gradual promoter acquisitions without triggering a mandatory open offer where prescribed thresholds are met. The increase may strengthen promoter control and marginally reduce public float, and was characterised as reflecting confidence in long-term growth, earnings trajectory and capital-allocation plans.
    July 17, 2026
    Show AI Summary
    Tariffs on Russian oil purchasers would target sanctions evasion, with reassessment mechanisms and limited energy-sector exemptions proposed.
    Proposed United States Senate legislation would impose mandatory tariffs on imports from leading purchasers of Russian oil or gas and leading facilitators of Russian oil-sanctions evasion. It provides for periodic reassessment and tariff adjustments, while exempting qualifying countries reducing Russian gas imports. Russian uranium purchases for specified nuclear and medical needs, and certain nuclear and space cooperation activities, would be excluded.
    July 17, 2026
    Show AI Summary
    Foreign currency non-resident deposits enable overseas Indians to invest foreign earnings while supporting India's foreign-exchange reserves.
    Foreign Currency Non-Resident deposits allow Non-Resident Indians and Persons of Indian Origin to maintain overseas earnings as foreign-currency fixed deposits with Indian banks without conversion into Indian rupees. Banks may offer enhanced interest rates for a limited period under an initiative intended to strengthen foreign-exchange reserves and support the rupee. The framework covers the investment process, regulatory requirements, taxation aspects and advantages for eligible overseas investors.
    July 17, 2026
    Show AI Summary
    GST compliance management integrates reconciliation, input tax credit support, invoicing and statutory monitoring within an AI-powered enterprise platform.
    The unified cloud platform combines accounting, manufacturing, inventory, procurement, human resources, payroll, compliance, reporting and document management with an embedded AI agent. Its compliance functions include GST validation, purchase-register reconciliation with GSTR-2B, input tax credit support, supplier filing-gap detection, e-invoicing, e-way bills, TDS and statutory due-date tracking. Financial and operational workflows are intended to use common real-time data, with automation for invoices, journal entries, reconciliations, reporting, workflow approvals and compliance-risk monitoring.
    July 17, 2026
    Show AI Summary
    Institutional trade cooperation expands through industry MoUs, supporting investment, innovation and technology partnerships across strategic economic sectors.
    Bilateral trade and investment cooperation was advanced through ministerial discussions and industry engagements concerning financial markets, innovation, enterprise financing and commercial relations. Two institutional Memoranda of Understanding established mechanisms for industry collaboration and greater business engagement. Sector-specific interactions covered digital and frontier technologies, space, clean energy, bioeconomy, circular economy, infrastructure and advanced manufacturing, focusing on collaboration, investment and technology partnerships.
    July 17, 2026
    Show AI Summary
    Codex spice standards harmonise quality benchmarks for cardamom, coriander and vanilla, supporting trade consistency, market access and export competitiveness.
    Codex standards for large cardamom, coriander and vanilla establish harmonised international quality benchmarks following review by relevant committees on analytical methods, food additives and food labelling. The standards are intended to promote consistent quality requirements, facilitate trade, improve market access and support export competitiveness. India was also accepted as Co-Chair of an Electronic Working Group developing policy guidance on risk analysis for new food products.
    July 17, 2026
    Show AI Summary
    Export readiness for MSMEs strengthens global market access through trade intelligence, standards compliance, preferential origin rules and trade remedy awareness.
    Export readiness for Indian MSMEs is supported through practical guidance on identifying export opportunities, market-access requirements, trade intelligence tools, international standards, sustainability requirements and buyer identification. International expansion strategies include using preferential Rules of Origin and cooperation mechanisms under Free Trade Agreements, selecting export destinations, product positioning, diversification and value addition. Trade remedy awareness and guidance on unfair trade practices and import surges, together with institutional support, partnerships and trade-exhibition participation, can strengthen global competitiveness and integration into global value chains.
    July 16, 2026
    Show AI Summary
    Reciprocal tariff measures and multilateral dispute settlement are pursued in response to contested import duties.
    Reciprocal tariff measures are proposed in response to a new tariff on specified Brazilian imports allegedly involving unfair trade practices. Brazil rejects those allegations and proposes to use its reciprocity-law mechanisms, including reciprocal tariffs and other trade-related countermeasures, while pursuing multilateral dispute settlement. It maintains that trade investigations must conform to multilateral international-trade rules and notes that the tariff may burden exports and increase commercial uncertainty.
    July 16, 2026
    Show AI Summary
    Section 301 tariff authority offers a procedurally constrained route to replace temporary global import tariffs after emergency powers failed.
    Import-tariff authority is shifting from emergency-based measures to temporary and investigatory powers under the Trade Act of 1974. Section 122 supports a global tariff measure only for a limited period, whereas Section 301 permits tariffs or trade sanctions for unjustifiable, unreasonable, or discriminatory foreign trade practices after required public-comment and hearing procedures. Current Section 301 investigations concern forced-labour imports and alleged overproduction by trading partners. A more rule-bound tariff framework may reduce, but not eliminate, commercial uncertainty, and broad use of Section 301 for near-universal tariffs may face legal challenge.

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      PM Modi, French President Macron hold talks, agree on deepening engagement in Indo-Pacific

      February 12, 2025

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      Paris, Feb 12 (PTI) Prime Minister Narendra Modi and French President Emmanuel Macron on Wednesday called for enhancing trade and investment ties between the two countries and committed to further deepening their engagement in the Indo-Pacific and various global forums and initiatives.

      After their wide-ranging talks, the two leaders also underlined their commitment to concrete actions to ensure that the global AI sector can drive beneficial social, economic, and environmental outcomes in the public interest.

      A joint statement issued after the meeting here said the talks covered a full spectrum of bilateral relations, as well as key global and regional issues.

      The two leaders stressed an urgent need for reform in the United Nations Security Council and agreed to coordinate closely on various global issues, including the UNSC matters.

      French President Macron reiterated France's firm support for India's permanent membership of the UNSC.

      The two leaders reaffirmed their strong commitment to India-France Strategic Partnership while noting that it has steadily evolved into a multifaceted relationship over the past 25 years.

      Prime Minister Modi flew together from Paris to Marseille in the French Presidential Aircraft last evening and held discussions here on the full spectrum of bilateral relations and key global and regional issues.

      This was followed by delegation-level talks after arrival in Marseille.

      The two leaders reviewed cooperation in the strategic areas of defence, civil Nuclear Energy and Space. They also discussed ways to strengthen collaboration in the fields of Technology and Innovation.

      This area of partnership assumes greater salience in the backdrop of the just concluded AI Action Summit and the upcoming India-France Year of Innovation in 2026, the statement said.

      The leaders also called for enhancing trade and investment ties.

      President Macron also hosted a dinner in honour of the Prime Minister in the coastal town of Cassis, near Marseille. Prime Minister invited President Macron to visit India.

      The list of 10 outcomes included the India-France Declaration on AI, launch of the logo for the India-France Year of Innovation 2026, and Letter of Intent between India's Department of Science and Technology (DST) and France's Institut National de Recherche en Informatique et en Automatique (INRIA) France to establish the Indo-French Centre for the Digital Sciences.

      An agreement was also signed for hosting 10 Indian startups at the French start-up incubator Station F, while a Declaration of Intent was signed on the establishment of a partnership on Advanced Modular Reactors and Small Modular Reactors.

      Other outcomes included the renewal of MoU between the Department of Atomic Energy (DAE) and Commissariat a l'Energie Atomique et aux Energies Alternatives of France (CAE), for cooperation with the Global Centre for Nuclear Energy Partnership (GCNEP).

      And the implementation of an agreement between DAE of India and CEA of France concerning cooperation between GCNEP India and Institute for Nuclear Science and Technology (INSTN), France.

      A joint declaration of intent on Triangular Development Cooperation was signed, while the two leaders also jointly inaugurated the Indian consulate in Marseille, and a declaration of intent was signed between The Ministry for the Ecological Transition, Biodiversity, Forests, Marine Affairs and Fisheries and The Ministry of Environment, Forest and Climate Change in the Field of Environment.

      Modi reached France on Monday and also co-chaired the Artificial Intelligence Action Summit along with Macron.

      This is Modi's sixth visit to France and follows Macron's visit to India in January 2024 as the Chief Guest for the 75th Republic Day of India.

      The two leaders also visited the International Thermonuclear Experimental Reactor facility here.

      The two leaders reiterated their call for reformed and effective multilateralism to sustain an equitable and peaceful international order, address pressing global challenges and prepare the world for emerging developments, including in the technological and economic domains.

      The two leaders stressed, in particular, the urgent need for the reform of the United Nations Security Council and agreed to coordinate closely in multilateral fora, including on UNSC matters.

      The two leaders agreed to strengthen conversations on the regulation of the use of the veto in case of mass atrocities.

      They held extensive discussions on long-term global challenges and current international developments and agreed to intensify their global and regional engagement, including through multilateral initiatives and institutions.

      They welcomed the continuation of the cooperation of air and maritime assets in line with the ambitious Defence Industrial Roadmap agreed in 2024.

      Both leaders commended progress in collaboration in the construction of Scorpene submarines in India, including indigenisation, and in particular the work carried out with a view to the integration of DRDO-developed Air Independent Propulsion (AIP) into P75-Scorpene submarines and the analyses conducted regarding the possible integration of the Integrated Combat System (ICS) into the future P75-AS submarines.

      Both leaders also welcomed the commissioning of the sixth and final submarine of the P75 Scorpene-class project, INS Vaghsheer, on 15 January 2025.

      Both sides welcomed the ongoing discussions on missiles, helicopter engines and jet engines.

      They also welcomed the excellent cooperation between the relevant entities in the Safran group and their Indian counterparts.

      Modi invited the French Army to take a closer look at the Pinaka rocket launcher, emphasising that an acquisition of this system by France would be another milestone in Indo-French defence ties.

      In addition, President Macron welcomed the decision to include India as an observer to the Eurodrone MALE programme managed by OCCAR, which is another step forward in the growing strength of our partnership in defence equipment programmes.

      Both leaders had a detailed conversation on international issues, including the Middle-East and the war in Ukraine, the statement said.

      They agreed to pursue their efforts to coordinate and remain closely engaged regularly.

      The two leaders agreed to work together more closely on implementing the India-Middle East-Europe Corridor (IMEC) and acknowledged the strategic location of Marseille in the Mediterranean Sea.

      They underlined the key importance of strengthening EU-India relations, in view of the upcoming India-EU summit at the earliest possible in New Delhi.

      They appreciated the growing cooperation in trilateral format with Australia and with the United Arab Emirates.

      They commended the joint military exercises that took place between France, India and the United Arab Emirates, as well as the participation of India, France and Australia in each others' multilateral military exercises.

      The two leaders underlined their common commitment to a free, open, inclusive, secure and peaceful Indo-Pacific region.

      They reiterated their desire to continue to deepen bilateral cooperation in the space sector.

      The two leaders reaffirmed their unequivocal condemnation of terrorism in all its forms and manifestations, including cross-border terrorism. They called for the disruption of terrorism financing networks and safe havens. They further agreed that no country should provide safe haven to those who finance, plan, support, or commit terrorist acts.

      The leaders also called for concerted action against all terrorists.

      They welcomed the ongoing discussions to create a comprehensive framework for enhanced bilateral cooperation in the civil aviation sector, which is at advanced stages, the statement said.

      Noting the record level of bilateral trade in 2024, they acknowledged that there is vast untapped potential for trade and investment between the two countries.

      Both leaders highlighted the need to maintain strong confidence for companies investing in France and in India.

      Prime Minister Modi congratulated President Macron on the successful organisation of the Paris Olympics and Paralympics 2024 and thanked President Macron for his willingness to share France's experience and expertise regarding the organisation and securing of major international sporting events in the context of India's bid to host the Olympics and Paralympics Games in 2036. PTI BJ AMS

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