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September 6, 2026
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Food business licensing: Third-party restaurant operators require their own licences and cannot operate under another entity's registration.
Food Business Operator licensing requires the entity holding a food licence or registration to itself conduct the licensed food business at the specified premises. A third-party operator cannot operate under another entity's licence or registration and must obtain its own licence or registration. Regulatory notices concerning such arrangements may also address hygiene lapses and structural violations, followed by consideration of the operators' responses.
September 6, 2026
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European diesel supply dependence on alternative refiners grows amid constrained exports, weakening transatlantic flows, and restricted shipping routes.
European diesel supply is becoming increasingly dependent on Indian refining capacity as Russian diesel and gasoil exports remain constrained by export restrictions, refinery disruptions and port outages, while US shipments to Europe have weakened. Alternative supply routes offer limited additional clean-product volumes because reduced tanker crossings and lower ship-to-ship transfers offshore Oman constrain flows through the Strait of Hormuz. Low diesel inventories, seasonal demand and planned refinery maintenance increase exposure to supply disruptions.
September 5, 2026
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Tariff-driven inflation and elevated borrowing costs constrain growth, while durable deficit reduction may require spending restraint and tax increases.
Persistent inflation, elevated interest rates and rising public debt constrain economic growth policy. Tariffs and oil shortages are identified as contributing to inflationary pressures, while lower interest rates could increase money flows and worsen inflation. Tariffs, tax cuts, artificial intelligence productivity gains and anti-fraud measures are advanced as mechanisms to support growth, investment and domestic employment. Fiscal sustainability, however, cannot be achieved through growth alone where social security and healthcare costs exceed revenue growth; deficit reduction may require slower spending, spending reductions and tax increases.
September 5, 2026
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AI data centre development receives state support for a high-capacity campus and accelerated commissioning timetable.
HyperVault's proposed artificial-intelligence data-centre campus in Hyderabad is planned on 264 acres, with investment projected at up to Rs 70,000 crore and capacity of up to 1 GW. The campus is intended to provide high-density, liquid-cooled computing infrastructure for frontier AI companies and hyperscalers. Telangana's Chief Minister sought inauguration by June 2, 2028, while assuring required governmental sanctions and support. The project is estimated to create 7,000 jobs.
September 5, 2026
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Inflated net-worth certificates allegedly enabled secured lending, triggering fraud, breach-of-trust and asset-stripping allegations after default.
Alleged inflation of net-worth certificates is said to have induced approval and disbursal of two corporate loan facilities aggregating Rs 980 crore, each secured by continuing personal guarantees. The facilities subsequently defaulted. The FIR alleges that materially higher net-worth representations made in 2018 were later contradicted during insolvency proceedings, and attributes the lending to collusion among the guarantor, borrower entities and their officers. Allegations include cheating, creation of false documents, misappropriation and misapplication of loan funds, breach of trust, and asset stripping intended to frustrate recovery.
September 5, 2026
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AI data centre infrastructure investment enables phased deployment of high-density, liquid-cooled computing capacity using green and water-neutral design.
HyperVault plans to develop an artificial intelligence data-centre campus on 264 acres in Hyderabad, with capacity of up to 1 GW and investment by HyperVault and its partners of up to Rs 70,000 crore. The facility is intended to provide high-density, liquid-cooled computing infrastructure for frontier AI companies and hyperscalers. Development will proceed in phases according to customer demand and technology requirements, incorporating green-energy use and water-neutral design principles.
September 5, 2026
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Alleged inflation of personal net worth underpins fraud and breach-of-trust accusations over secured corporate lending.
CBI registration of an FIR concerns allegations that inflated personal net-worth certificates were used to secure corporate loan facilities from Life Insurance Corporation Housing Finance Ltd. The lender alleges that the certificates influenced lending decisions, the facilities subsequently defaulted, and later insolvency proceedings disclosed inconsistency between the represented and asserted net-worth figures. Allegations include collusion with borrower entities, false documentation, cheating, misappropriation of loan funds, and breach of lender trust.
September 5, 2026
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Free trade agreement utilisation requires district-level exporter support, rules-of-origin assistance, standards compliance, and coordinated market-access outreach nationwide.
Free Trade Agreement utilisation is to be advanced through coordinated action by central and state governments, sectoral ministries, Export Promotion Councils, industry associations and local export-support institutions. Preferential treatment is assessed against tariff rates faced by competing countries, while export competitiveness depends on scale, quality, customer trust and timely delivery. The Export Promotion Mission supports export credit, digitised compliance and FTA documentation, including rules-of-origin certification. District-level identification of products, clusters, new exporters and practical constraints, supported by workshops and rapid online facilitation, is intended to deepen market access.
September 5, 2026
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Automotive localisation and export competitiveness are prioritised through global-standard manufacturing, technology partnerships, sustainable mobility, and government infrastructure support.
Automotive-sector localisation, export expansion and global-standard manufacturing are prioritised to strengthen India's role in global production and trade. Companies are urged to invest in technology, innovation, research and development, use domestic scale for overseas markets, and avoid supplying inferior products domestically. Trade agreements are positioned as channels for market access, technology absorption and exports. Greater indigenisation is encouraged through component localisation, technology collaborations and expanded exports, supported by critical minerals, batteries, indigenous energy sources, research funding, plug-and-play infrastructure and industrial ecosystems.
September 5, 2026
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Circular textile procurement integrates certification, product categories and seller support to expand government markets for recycled materials.
Memorandum of Understanding for circular textile procurement links certification, standardisation and public-market access for recycled and upcycled products made from textile waste, scrap and second-hand clothes. The Textiles Committee will identify, verify, certify and recognise eligible producers and support specifications, catalogues and capacity building. Government e Marketplace will create dedicated product categories, onboard sellers, facilitate online market linkages, promote products to government buyers, and provide training and handholding to recyclers and upcyclers.
September 5, 2026
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India-EU Free Trade Agreement promotes tariff reduction, market access, investment resilience, and India-Belgium industrial and skills cooperation.
India-EU Free Trade Agreement is presented as reducing or removing tariffs on more than 95 per cent of Indian and European goods exports while protecting sensitive sectors on both sides. It is intended to expand trade, investment and economic resilience, with the Port of Antwerp-Bruges serving as a major gateway for Indian exports into European markets. India-Belgium cooperation is identified in gems and jewellery, semiconductors, green hydrogen, advanced manufacturing, agriculture and food processing, supported by mutual recognition, workforce mobility, skills development and technology collaboration.
September 5, 2026
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MSME compliance capacity-building programme launches structured learning and workplace training to develop certified paraprofessional support.
Corporate Mitra Course has commenced to develop trained and certified paraprofessionals capable of providing affordable business and regulatory compliance support to Micro, Small and Medium Enterprises. The 12-month programme includes six months of structured academic learning and six months of on-the-job training in professional firms. Its digital learning system offers recorded lectures, reference materials, assessments and learner-support facilities. The programme aims to strengthen MSME formalisation, ease of doing business, trust, transparency, accountability and orderly growth.
September 5, 2026
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Audit quality advisory committee broadens expert input on assurance, technology, and stakeholder perspectives in oversight.
NFRA has constituted an Advisory Committee on Audit Quality, Assurance and Technology under Rules 15 and 16 of the National Financial Reporting Authority Rules, 2018. The Committee will provide expert inputs and suggestions on matters significantly affecting audit quality, while supporting functions relating to awareness of auditing and accounting standards. Its members represent professionals, chief financial officers, audit committees, independent directors, technology experts, regulators and industry.
September 4, 2026
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Money laundering allegations over fraudulent marriage-assistance disbursements prompted investigation into false credentials and ineligible beneficiary payments.
Alleged money laundering arose from fraudulent disbursement of marriage-assistance funds intended for daughters of registered construction workers. The allegations include approvals and releases for suspicious marriage cases, use of bank accounts opened or misused on false credentials, multiple cash withdrawals, and extension of benefits to ineligible persons. Investigation under the Prevention of Money Laundering Act followed an economic-offences FIR concerning suspected misuse of the welfare scheme.
September 4, 2026
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Money-laundering allegations: discharge plea attributes airline's financial collapse to macroeconomic conditions and denies loan siphoning through sales agents.
Money-laundering proceedings arising from alleged bank fraud concern claims that loans advanced to an airline were siphoned off. The discharge application attributes the airline's financial collapse to adverse macroeconomic conditions rather than fraudulent conduct or laundering, denies diversion through General Sales Agents, and maintains that related payments were board-approved and disclosed. It also contests the treatment of the bank's outstanding claim as funds received by the founder, while the investigating agency alleges systemic fraud, loan diversion and laundering.
September 4, 2026
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Foreign exchange market conditions supported rupee appreciation, while oil prices and geopolitical tensions limited potential gains.
Foreign exchange market conditions supported the rupee's appreciation by 8 paise to 94.43 against the US dollar, aided by positive domestic equity markets, improved risk appetite, foreign capital inflows and foreign institutional buying. Reserve Bank of India intervention was also cited as support. Elevated crude oil prices, safe-haven dollar demand and United States-Iran tensions were identified as factors limiting further gains. India's foreign exchange reserves increased to a new all-time high during the relevant reporting week.
September 4, 2026
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Offer-for-sale IPO clearance enables existing exchange shareholders to monetise holdings, while sale proceeds remain outside the exchange.
Regulatory clearance permits the National Stock Exchange to proceed with an initial public offering structured wholly as an offer for sale by existing shareholders. The proposed issue does not raise fresh capital, and sale proceeds will accrue to the selling shareholders rather than the exchange. Revised offer documents were required after addition of a selling shareholder, triggering a fresh public-feedback period. The offering follows settlement of co-location and dark-fibre matters and governance and compliance measures addressing regulatory concerns.
September 4, 2026
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Equity market resilience was tempered by profit booking, geopolitical tensions, global rate expectations and domestic liquidity.
Equity markets registered a recovery after four consecutive losing sessions, led by buying in metal, private banking, oil and gas, housing finance, telecommunication, insurance, commodities and financial services shares. The benchmark equity index closed higher, while the broader index recorded a modest gain after retreating from an intraday level above the psychological threshold during the newly introduced Closing Auction Session. Investor sentiment was supported by easing interest-rate concerns, strong earnings momentum, resilient economic growth and domestic demand, but was constrained by profit booking, geopolitical tensions and crude-oil price risks.
September 4, 2026
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Forex reserve management reflects rising foreign currency assets and gold holdings, alongside marginal declines in SDRs and IMF reserve position.
India's foreign exchange reserves increased to a fresh all-time high, supported principally by higher foreign currency assets and gold reserves. Reserve accumulation has continued after concessional foreign-exchange swap initiatives introduced amid local-currency depreciation. Foreign currency assets, expressed in United States dollar terms, also reflect valuation effects from movements in currencies such as the euro, pound and yen. Special drawing rights and the reserve position with the International Monetary Fund declined marginally.
September 4, 2026
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IPO regulatory clearance enables further public issue preparations, with existing shareholders proposing a complete offer for sale.
SEBI's final observations on the proposed initial public offering enable the National Stock Exchange to undertake further public-issue preparations, subject to applicable regulatory requirements. The proposed issue is structured entirely as an offer for sale, under which existing shareholders would divest a portion of their holdings rather than the exchange issuing new shares. The draft red herring prospectus contemplates sale of 14.89 crore shares, representing nearly 6 per cent of the exchange's stake.

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MRAI's 12th IMRC and Union Budget 2025 Set the Course for India's Sustainable Recycling Leadership

February 22, 2025

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Mumbai, Maharashtra, India (NewsVoir) The 12th International Material Recycling Conference (IMRC), held from January 28 to 30, 2025, at the Novotel Jaipur Convention Centre, emerged as a critical forum for industry leaders, policymakers, and global stakeholders to address the challenges and opportunities in India’s recycling sector. Organized by the Material Recycling Association of India (MRAI), the event strengthened India’s dedication to a circular economy and sustainable resource management.

A Call for Pro-Planet Living Setting an inspiring tone for the event, Sanjay Mehta, President of MRAI, aligned the conference with Hon. Prime Minister Shri Narendra Modi’s Mission LiFE. He emphasized, “LiFE is about becoming ‘Pro-Planet People.’ Changing the world begins with changing ourselves. Recycling, when done thoughtfully, can reduce the strain on nature. We must start at home, in offices, and in factories by practicing proper segregation.” Reflecting on the conference’s impact, Amar Singh, Secretary General of MRAI, added, “Transformative ideas and actionable insights have emerged here. Our resolve for sustainable resource management has grown stronger.” Government’s Support for Recycling Industry Growth Speaking at the conference, Naresh Pal Gangwar, Additional Secretary, MoEFCC, outlined the government’s roadmap for sustainability and resource efficiency, stating, “Achieving India’s vision of becoming a developed nation by 2040 requires manifold growth in GDP, increased consumption, and efficient management of material resources.” Supporting this view, Vinod Kumar Tripathi, Joint Secretary, Ministry of Steel, reaffirmed the need to improve the recycling ecosystem. He stated, “By strengthening our recycling infrastructure, supporting education and awareness campaigns, and encouraging industries to adopt circular economic principles, we can build a thriving, sustainable future for all.” Industry Leaders and Global Perspectives The conference featured key insights from global experts: • Major General K. Narayanan, Program Director, Niti Aayog, highlighted the role of innovation and collaboration in maximizing India’s recycling potential.

• Dr. Soumya Gurjar, Hon. Mayor of Jaipur, stressed the need for greater participation of women entrepreneurs in the recycling sector and praised Prof. Bineesha P., Advisor at MRAI, for her contributions.

• Robin Wiener, President of ReMA, lauded MRAI’s advocacy efforts, while Arnaud Brunet, Director General of BIR, and Susie Burrage OBE, President of BIR, shared perspectives on the challenges posed by evolving EU regulations on shipping.

‘Recycling India’ – A National Initiative Dhawal Shah, Senior Vice President of MRAI, called for a national campaign—'Recycling India'—to raise awareness and open doors to new opportunities in the sector. “Our vision is to see India emerge as a global leader in sustainable resource management,” he stated.

Zain Nathani, Vice President of MRAI, reinforced the industry’s role in India’s carbon emission and steel production goals, advocating for greater support of the Vehicle Scrappage Policy and the promotion of recyclable materials.

With 2,500 delegates, 400 foreign participants, 200 exhibitors, and representatives from over 50 countries, the 12th IMRC marked a defining moment in India’s sustainable recycling journey.

Government Approves Zero Duty on Non-Ferrous Scrap: A Game-Changer for Recycling In a landmark decision, the Government of India has reduced the basic customs duty on non-ferrous scrap to zero percent, marking a major breakthrough for the recycling industry. The duty exemption applies to key materials such as Lead, Zinc, Copper, Brass, and Lithium-Ion Battery Scrap, providing a boost to India’s circular economy and sustainable manufacturing sector.

MRAI’s Advocacy Paves the Way for Policy Reforms Sanjay Mehta, President of MRAI, expressed his gratitude for the government’s progressive decision, stating, “MRAI has consistently engaged with stakeholders and government bodies to bring about such transformative reforms. The duty-free non-ferrous scrap marks a critical advancement for the recycling industry.” He further noted MRAI’s ongoing efforts to reduce duties on aluminium scrap, aligning India’s policies with global standards.

Union Budget 2025: Boosting India’s Recycling Industry The Union Budget 2025, presented by Smt. Nirmala Sitharaman, Minister of Finance & Corporate Affairs, stressed the importance of exports and imports as key drivers of economic growth. The reduction in non-ferrous scrap duties is a strategic move to enhance manufacturing competitiveness and facilitate access to affordable raw materials. The decision aligns with India’s broader vision of Viksit Bharat, accelerating growth and strengthening the recycling sector as a key contributor to a resource-efficient economy.

Projected Growth and Sustainability Mandates The Indian recycled metal market, which generated USD 28.9 million in 2023, is projected to reach USD 38.0 million by 2030, growing at a CAGR of 4% from 2024 to 2030. The zero-duty policy is expected to lower operational costs and encourage greater recycling activities, reinforcing India’s circular economy.

A significant step toward sustainable manufacturing, the budget introduces zero import duty on non-ferrous metal scrap, including lead, zinc, copper, cobalt powder, lithium-ion battery scrap, and 11 other critical minerals. The measure is set to transform India’s recycling sector, reducing production expenses while strengthening the country’s position in global markets.

Additionally, the government has mandated a minimum of 5% recycled content in all new non-ferrous metal products from FY 2028, with targets set for 10% recycled aluminium, 20% copper, and 25% zinc by FY31. These measures are designed to reduce industrial waste, enhance resource utilization, and support long-term environmental objectives.

MRAI’s Call for Further Reforms In continuation of these efforts, MRAI has urged the government to remove Basic Customs Duty (BCD) on all grades of aluminium scraps, Cupro Nickel & Nickel containing Brass, and Zinc dross scrap under HS code 26201910. With aluminium recycling alone cutting energy consumption by over 95%, such measures would significantly reduce emissions and support India’s environmental objectives. The budget’s provisions are set to accelerate the recycling sector’s expansion.

MRAI’s Continued Engagement with Policymakers Amar Singh, Secretary General of MRAI, highlighted the association’s role in shaping policy, “In aluminium, we have achieved what we set out to do, ensuring that scrap is imported based on its specification. On the policy front, JNARDDC has been authorized as a metal recycling authority by the Ministry of Mines, marking a significant step in policy-driven change.” Tax Reforms and Mission LiFE The Material Recycling Association of India (MRAI) welcomed the tax policy updates of 2024, including the implementation of the Reverse Charge Mechanism (RCM) under GST and the introduction of a 2% Tax Deducted at Source (TDS) on non-ferrous scrap purchases. These reforms enhance compliance, increase transparency, and streamline operations in the recycling sector.

Speaking at MRAI’s 12th IMRC in Jaipur, Naveen Sharma, Vice President of MRAI, urged the government to extend RCM to e-waste and battery waste, covering chapters 83, 84, and 85, which will advance formal sector participation.

Calling attention to the economic potential, Dhawal Shah, Senior Vice President of MRAI, noted, “The Indian non-ferrous metal industry is currently valued at $18 billion and is projected to reach $30 billion in the next five years. Renewable energy, automotive, and packaging sectors offer immense growth potential.” A Collective Step Toward a Greener Future MRAI extends its deep appreciation to the Government of India, under the leadership of Prime Minister Shri Narendra Modi, for supporting the recycling sector. The removal of import duties on non-ferrous scrap marks a watershed moment, positioning India as a leader in sustainable metal recycling. This move, backed by key ministries, is expected to reduce production costs, drive the adoption of recycled materials, and enhance India’s global competitiveness in green manufacturing.

Shri H. D. Kumaraswamy, Minister of Steel; Shri G. Kishan Reddy, Minister of Mines; Smt. Nirmala Sitharaman, Minister of Corporate Affairs; and Shri Piyush Goyal, Minister of Environment, Forest, and Climate Change, have played pivotal roles in defining this progressive policy.

With this pivotal policy move, the nation accelerates its transition toward a cleaner and more sustainable future.

(Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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