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    India-New Zealand FTA to Enter into Force from 20 October 2026
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September 22, 2026
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Tariff liberalisation under the India-New Zealand FTA grants Indian exports duty-free access while protecting sensitive agricultural products.
From 20 October 2026, the India-New Zealand Free Trade Agreement applies duty-free treatment to all tariff lines covering Indian exports to New Zealand, while preserving exclusions for sensitive Indian agricultural products. Market access for New Zealand apples, kiwifruit, and Manuka honey remains subject to tariff rate quotas, minimum import prices, seasonal windows, and safeguards. Services commitments, mobility routes, investment facilitation, agricultural cooperation, and recognition of specified international inspection approvals form further components.
September 21, 2026
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Airport smuggling enforcement targets concealed ganja and gold, leading to passenger interceptions and arrests under customs law.
Customs enforcement at Bengaluru airport involved interception and arrest of passengers allegedly attempting to smuggle hydroponic ganja and gold by concealing the goods in cabin baggage, other baggage, undergarments, or on the body. Cases involved arrivals from Vietnam, Bangkok, Kuala Lumpur, and Abu Dhabi. The Abu Dhabi gold-ornament case involved an arrest under the Customs Act.
September 21, 2026
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Rules of origin prevent third-country transshipment from receiving preferential tariffs under bilateral trade arrangements between partner economies.
India-New Zealand free trade preferences apply only to goods satisfying Rules of Origin. Third-country goods routed through New Zealand cannot receive preferential Indian tariff treatment, as bilateral cumulation is confined to originating materials and goods of India and New Zealand. Sensitive sectors receive no duty concessions, while a bilateral safeguard mechanism addresses sudden import surges after duty elimination or reduction. Temporary Employment Entry, student mobility commitments, post-study work opportunities, and exemption from directly funded social-security contributions for temporary Indian residents form part of the services framework.
September 21, 2026
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Banking service continuity is prioritised through dialogue as employee welfare measures and wage negotiations address outstanding demands.
Banking-sector industrial relations are addressed through an appeal to bank employees to avoid strike action and pursue outstanding demands through dialogue, in order to keep banking services uninterrupted. Most union concerns are considered substantially addressed, while a remaining demand continues to be examined. The demand for withdrawal of the Performance Linked Incentive scheme had been addressed by placing that scheme in abeyance following detailed discussions. Employee welfare measures, wage revisions, and negotiations for the forthcoming Bipartite Settlement are intended to support workforce welfare and banking-sector efficiency.
September 21, 2026
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Money-laundering investigation addresses alleged use of a middleman to demand, receive, move and conceal corruption proceeds.
Money-laundering proceedings were initiated from corruption FIRs alleging that a middleman was used to demand and receive illegal gratification. Investigation concerns the alleged facilitation of receipt and movement of funds, supported by searches yielding cash seizure and freezing of financial accounts. Financial records and digital devices allegedly indicated unexplained deposits, investments, transactions involving the officer, and possible involvement of other public servants. The inquiry is tracing alleged proceeds of crime and the role of associated persons and entities.
September 21, 2026
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FCNR(B) foreign-currency deposits use a swap facility to mobilise non-resident funds without direct rupee exchange-rate risk.
RBI's special USD-INR foreign-exchange swap facility mobilised foreign-currency inflows through FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. The FCNR(B) deposit window closed on 31 August 2026 after its mobilisation objective was achieved, while the facility remained available for the other two channels until 31 December 2026. FCNR(B) collections were revised upward to approximately USD 133 billion. Such deposits are fixed-term foreign-currency deposits with principal and interest repayable in the same currency, avoiding direct rupee exchange-rate risk for non-resident depositors.
September 21, 2026
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GST bribery investigation concerns alleged illegal gratification sought to resolve quarry firm's tax and royalty proceedings.
GST-related corruption allegations concern an alleged demand for illegal gratification from a stone-quarrying firm to resolve GST and royalty proceedings. A Customs House Agent was apprehended in a trap operation while allegedly accepting the negotiated amount on behalf of a CGST Superintendent and an Additional Commissioner. Custody proceedings involved written communication of arrest grounds and intimation to relevant family members and advocates.
September 21, 2026
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Rural infrastructure financing supports irrigation, roads, water supply, warehousing and micro-irrigation through structured lending and implementation oversight.
Haryana's 2026-27 rural infrastructure financing plan comprises six proposals for irrigation, roads, drinking-water supply and warehousing, with loan assistance proposed under the Rural Infrastructure Development Fund. Infrastructure Development Assistance has been sanctioned for the India International Horticulture Market, while further micro-irrigation proposals have been recommended under the Micro Irrigation Fund. Implementation oversight emphasises faster project execution and timely drawal claims, alongside borrowing approval and prospective support for water security, groundwater recharge, efficient irrigation and treated-wastewater reuse.
September 21, 2026
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Money laundering allegations in illegal cricket betting prompted investigative custody and examination of suspected routing of betting proceeds.
Money-laundering investigation into an organised illegal cricket-betting syndicate concerns the alleged use of online platforms, encrypted messaging channels, and a principal bookie to solicit, accept, and settle bets. Betting-derived funds were allegedly routed through a partnership firm represented as non-operational, whose account recorded substantial corresponding credits and debits. Property and vehicle records, digital data, and statements under the PMLA are relied upon to allege the acquisition, possession, use, transfer, and projection of proceeds of crime as untainted property.
September 21, 2026
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Money laundering allegations concern foreign portfolio investments, alleged share-price manipulation, attachment, and proposed confiscation of betting proceeds.
PMLA proceedings name Nishant Pitti in relation to allegations that proceeds from illegal online betting were introduced into Indian equity markets as foreign portfolio investments. The allegations attribute to him a role in facilitating and layering such proceeds through pre-arranged share-price manipulation involving Easy Trip Planners Ltd. Property action includes provisional attachment of his DEMAT shares, described as proceeds of crime, and a request for confiscation.
September 21, 2026
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National accounts modernisation adopts updated data sources, revised sector methods, and proportional Denton benchmarking for improved GDP estimates.
National Accounts Statistics in the new series use base year 2022-23, replacing the 2011-12 series. The series was updated to reflect changes flowing from the new Producer Price Index and Index of Industrial Production series. Methodological modernization expands corporate and financial-sector data coverage, refines general-government treatment, and adopts direct household-sector estimation from the Annual Survey of Unincorporated Sector Enterprises and the Periodic Labour Force Survey. Private Final Consumption Expenditure adopts COICOP 2018, while Quarterly National Accounts use the Proportional Denton approach and greater Goods and Services Tax and administrative-data use.
September 21, 2026
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Electoral roll verification requires unmapped voters to establish linkage or submit prescribed documents before final enrolment.
Special Intensive Revision of Nagaland's electoral roll applies a mapping and verification process by reference to the 2005 electoral roll. Electors recorded under no-mapping or mapping-anomaly categories, including persons unable to establish linkage to an elector in the 2005 roll, are to receive notices from Electoral Registration Officers or Assistant Electoral Registration Officers. They must furnish prescribed supporting documents, calibrated to their date or year of birth, for verification. Non-registration in the 2005 roll does not itself cause automatic exclusion.
September 21, 2026
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Trade pact negotiations and Russian energy tariffs shape market-access commitments and potential import-duty exposure for exporters.
India and Canada have accelerated negotiations for a Comprehensive Economic Partnership Agreement to establish a bilateral trade framework for goods and services. A United States law concerning sanctions on Russia and Iran authorises tariffs of up to 100 per cent on imports from leading purchasers of Russian crude oil or natural gas, creating potential tariff exposure for Indian exports. The India-European Union trade pact contemplates immediate duty elimination on 90 per cent of Indian goods and phased elimination on a further three per cent over seven years, subject to ratification.
September 21, 2026
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Semiconductor ecosystem policy requires predictable regulation, integrated clusters, and coordinated support to convert domestic demand into local value creation.
Semiconductor ecosystem development in India is centred on converting expanding domestic demand into local manufacturing, innovation and supply-chain resilience. A predictable fiscal and regulatory environment, alignment of central and state semiconductor policies, integrated manufacturing clusters and talent-certification programmes are important to project viability and commercialisation. Advanced packaging, compound semiconductors, photonics and chip-to-system integration offer high-potential areas, requiring policy certainty, streamlined approvals and long-term support for research, talent and supplier development.
September 21, 2026
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Legal and NPA advisory services receive recognition for social welfare, women's employment, legal awareness, and financial dispute-resolution work.
Felicitation of Advocate V. K. Dubey recognised his stated work in women's employment, public welfare, banking, NPA resolution, legal awareness, and social service. His profile encompasses civil, criminal, non-performing asset, banking, corporate, and settlement matters; leadership of bodies engaged in financial-dispute resolution; and legal assistance and public awareness intended to improve access to justice for marginalised persons. Associated initiatives include education and support for disadvantaged communities and wider social empowerment.
September 21, 2026
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Rupee appreciation reflected lower crude oil prices, stronger domestic equities, and improved risk sentiment amid diplomatic expectations.
Rupee appreciation against the US dollar followed lower crude oil prices, improved global risk sentiment, positive domestic equity markets, and softer US Treasury yields. Dollar index strength, geopolitical developments, and possible increases in oil supplies remained relevant to currency movements. Market commentary anticipated a slight positive rupee bias if crude oil prices continued to ease, while renewed geopolitical tensions could weaken risk sentiment. Net foreign institutional investment and a decline in foreign exchange reserves also formed part of the market context.
September 21, 2026
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Reciprocal tariffs and AI incident notifications frame bilateral talks on trade, security, technology and arms sales.
US sanctions legislation authorises the President to impose tariffs, including up to 100 per cent, on countries purchasing Russian oil and gas. China rejects tariffs directed at its Russian energy purchases and opposes unilateral sanctions and long-arm jurisdiction absent an international-law basis or a UN Security Council mandate. Washington and Beijing are also negotiating a reciprocal tariff-reduction framework covering products from both sides.
September 21, 2026
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Gold recycling and financialisation can reduce import dependence by mobilising household holdings through exchange, credit and non-physical investment.
Organised gold recycling, responsible sourcing, gold loans and financialised gold products are identified as ways to reduce reliance on fresh gold imports. Exchanging old jewellery can meet retail demand from existing domestic holdings, while gold loans unlock credit without requiring households to sell their gold. Gold ETFs and digital gold permit exposure to gold's value without physical possession and may reduce physical import demand. Transparency, trust and supporting infrastructure are necessary to integrate household gold into an organised formal economy.
September 21, 2026
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Tribunal infrastructure and member vacancies: amenities assessment and bench-level data collection address reduced sittings across company-law benches.
The Supreme Court required the Central Government urgently to identify, in consultation with the Tribunal President, infrastructural amenities needed by tribunal benches. The Principal Bench Bar Association was required to compile tabulated infrastructure data for every regional bench. At least 18 benches were asserted to conduct half-day sittings because of member shortages, against a sanctioned complement that remained unchanged despite expanded insolvency jurisdiction.
September 21, 2026
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Duty-free access for Indian exports under the India-New Zealand trade agreement begins with its entry into force.
The India-New Zealand Free Trade Agreement will grant duty-free access in New Zealand to all Indian exports, displacing existing peak tariffs on products such as ceramics, carpets, automobiles, and auto components. Scheduled to enter into force on 20 October 2026, the agreement also includes New Zealand's long-term investment commitment in India.

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US defence chief Hegseth calls NATO membership for Ukraine unrealistic

February 12, 2025

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Brussels, Feb 12 (AP) US Defence Secretary Pete Hegseth said Wednesday that NATO membership for Ukraine was unrealistic and in sweeping remarks suggested Kyiv should abandon hopes of winning all its territory back from Russia and instead prepare for a negotiated peace settlement to be backed up by international troops.

Hegseth's strident comments came during the first trip to NATO by a member of the new Trump administration. Allies have been waiting to hear how much continued military and financial support Washington intends to provide to the Ukrainian government.

What they heard was that President Donald Trump is intent on getting Europe to assume most of the financial and military responsibilities for the defence of Ukraine, including a possible peacekeeping force that would not include US troops.

Hegseth said the force should not have Article Five protections, which could require the US or the 31 other nations of the NATO alliance to come to the aid of those forces if they end up in contact with Russian forces.

Hegseth's stark message, and his insistence that Russia should keep some territory that Ukraine wants back, is likely to complicate talks later this week between Ukrainian President Volodymyr Zelenskyy and US Vice President JD Vance and other senior American officials at a major security security conference in Munich.

“The United States does not believe that NATO membership for Ukraine is a realistic outcome of a negotiated settlement,” Hegseth said, as Kyiv's backers gathered at NATO headquarters for a meeting to drum up more arms and ammunition for the war, which will soon enter its fourth year.

All 32 allies must agree for a country to join NATO, meaning that every member has a veto.

“Instead, any security guarantee must be backed by capable European and non-European troops,” Hegseth said. “To be clear, as part of any security guarantee, there will not be US troops deployed to Ukraine.” Hegseth insisted that NATO should play no role in any future military mission to police the peace in Ukraine and that any peacekeeping troops should not be covered by the part of NATO's founding treaty that obliges all allies to come to the aid of any member under attack.

Article Five has been activated only once, when European allies and Canada used the collective security guarantee to help the United States in the wake of the September 11, 2001, al-Qaida attacks on New York and Washington.

Hegseth also said Europe "must provide the overwhelming share of future lethal and nonlethal aid to Ukraine.” Ukraine currently relies equally on Europe and the US for about 30 per cent each of its defence needs. The rest is produced by Ukraine itself.

Addressing the allies of Ukraine known as the Ukraine Defence Contact Group, he also insisted that Ukraine's Western backers must abandon the “illusionary goal” of returning the country to its pre-2014 borders, before Russia annexed the Crimean Peninsula and seized parts of eastern Ukraine.

“Members of this contact group must meet the moment,” Hegseth said to the approximately 50 member countries that have provided support to Ukraine since Russia's full-scale invasion in 2022.

“We hear you,” UK Defence Secretary John Healey said in response to Hegseth's opening remarks. Both Hegseth and Healey spoke in front of journalists at the top of a closed-door session in Brussels to discuss future aid to Ukraine.

Over nearly three years, those 50 countries have collectively provided Ukraine with more than USD 126 billion in weapons and military assistance, including more than USD 66.5 billion from the US, which has served as the chair of the group since its creation.

But the meeting this week was convened by the United Kingdom, and no decision has been made on who might chair the next meeting, if one is called.

Hegseth wasn't expected to make any announcement on new weapons for Ukraine.

His trip comes less than two weeks before the third anniversary of Russia's invasion on February 24, 2022. Most US allies fear that Russian President Vladimir Putin won't stop at Ukraine's borders if he wins, and that Europe's biggest land war in decades poses an existential threat to their security.

Trump has promised to end the war quickly. He's complained that it's costing American taxpayers too much money and suggested that Ukraine should pay for US support with access to its rare earth minerals, energy and other resources.

Hegseth in his remarks said that NATO member nations also need to significantly increase defence spending to 5 per cent of their budgets — a high mark that the US does not presently meet either.

“The United States will no longer tolerate an imbalanced relationship which encourages dependence. Rather, our relationship will prioritise empowering Europe to own responsibility for its own security," Hegseth said.

European allies have hiked their military budgets since Putin ordered his troops into Ukraine, and 23 of them are estimated to have reached or exceeded last year's target of spending 2 per cent of gross domestic product, but a third still fall short.

Some US allies worry that a hasty deal might be clinched on terms that aren't favourable to Ukraine.

Before Hegseth spoke, NATO Secretary General Mark Rutte told The Associated Press that Putin will only negotiate a peace deal with Ukraine if its backers continue to provide enough weapons and ammunition.

“We have to make sure that he has no other option, and that means to force him to the table,” Rutte said. “He needs to understand that we will not give up on Ukraine. We have to make sure that we have maximum economic impact on Russia.” Hegseth's remarks come a day after American history teacher Marc Fogel returned safely to the US after three years in a Russian prison. The White House suggested that his release could help to advance negotiations on ending the war.

Trump said another American, someone “very special,” would be released Wednesday, though he declined to name the person or say from what country. The president did not say what the United States exchanged for Fogel's release. (AP) GSP

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