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    DRI seizes quantities of gold; drugs, e-cigarettes and other contraband in pan-India Ops; 20 persons, including 5 foreign nationals, arrested
    Union Government releases tax devolution of ₹1,09,019 crore to State Governments, as one advance instalment to accelerate their capital and deve...
    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
    Rupee rises 31 paise to 95.12 against US dollar in early trade
    Customs seizes 8 kg gold worth over Rs 11 cr at Kerala airports in one week
    Drill, Baby, Drill: India to fund Rs 650 cr per well for 60 deepsea wells to break its oil import habit
    Punjab GST revenue rises 20 pc to Rs 10,447 crore in April-July: Cheema
    India-China trade through Shipli La resumes after six years
    Odisha's export can reach USD 50 billion by FY 2029-30: Study
    Andhra records 21 per cent growth in net GST collections till July
    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
    Gross and Net GST revenue collections for the month of July, 2026
    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
    Gross GST collection kitty swells 15.4 pc to over Rs 2.11 lakh cr in July
    RBI says USD 40.82 bn mobilised under forex swap facility till Jul 31
    Sebi bars ZEEL for 2 months, Subhash Chandra, Punit Goenka for 1 year in Hyderabad land pledge case
    Department of Commerce Holds Workshop on Trade and Sustainable Development Policy Landscape
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    August 3, 2026
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    Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
    Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
    August 3, 2026
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    Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
    Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
    August 3, 2026
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    Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
    Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
    August 3, 2026
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    Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, attributed to lower global crude oil prices, a weaker dollar, sustained foreign portfolio inflows, higher foreign exchange reserves, and Reserve Bank of India presence in the foreign exchange market. Domestic equity market gains and net foreign institutional equity purchases were also identified as supporting factors.
    August 2, 2026
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    Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
    Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
    August 2, 2026
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    Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
    The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
    August 1, 2026
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    GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
    Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
    August 1, 2026
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    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
    August 1, 2026
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    Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
    Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
    August 1, 2026
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    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
    GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
    August 1, 2026
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    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
    Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
    August 1, 2026
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    PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
    PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
    August 1, 2026
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    Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
    Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
    August 1, 2026
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    GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
    GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
    August 1, 2026
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    Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
    Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.
    August 1, 2026
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    GST collection growth in West Bengal continued year-on-year in July but remained below the national growth trend.
    West Bengal's July GST collection increased year-on-year and over the preceding month, marking a second consecutive month of annual growth. Official data also indicated that the State's annual growth rate was below the national trend, while gross domestic GST revenue excluding imports and overall gross GST collections including import-related taxes rose nationally during July.
    August 1, 2026
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    GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
    Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
    August 1, 2026
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    Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
    The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
    August 1, 2026
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    Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
    Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.
    August 1, 2026
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    Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
    Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.

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      Trump expresses hope Russia's war in Ukraine is nearing an endgame as he meets with France's Macron

      February 25, 2025

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      Washington, Feb 25 (AP) President Donald Trump expressed hope that Russia's war in Ukraine is nearing an endgame as he met Monday with French President Emmanuel Macron on the third anniversary of the invasion. But France's leader cautioned that it's crucial that any potential agreement with Moscow does not amount to surrender for Ukraine.

      Their talks come at a moment of deep uncertainty about the future of transatlantic relations, with Trump transforming American foreign policy and effectively tuning out European leadership as he looks to quickly end the war in Ukraine.

      While Macron and Trump made nice at the White House, their countries were at loggerheads at the United Nations over resolutions describing Russia as the aggressor in the war.

      Trump, in broad comments on the state of the conflict, said he believed Russian President Vladimir Putin would accept European peacekeepers in Ukraine.

      “Yeah, he will accept it,” Trump said. “I have asked him that question. Look, if we do this deal, he's not looking for more war.” And Trump said he hoped that the war could end within weeks and that Ukrainian President Volodymyr Zelenskyy would soon come to the US to sign a deal giving America access to Ukraine's critical minerals that are used in key technology.

      Trump is pressing the economic deal to help repay some of the $180 billion in American aid for Kyiv since the start of the war — tens of billions of which is being spent in the US to replenish older weapons sent to Ukraine.

      “It looks like we're getting very close,” Trump told reporters of the minerals deal before his meeting with Macron. He said Zelenskyy could potentially visit Washington this week or next to sign it.

      Ensuring security for Ukraine Ukraine also is looking for future security guarantees as part of any agreement. Trump, however, did not say whether the emerging deal would include such assurances from the United States: “Europe is going to make sure nothing happens.” At a joint press conference following their meeting, Macron acknowledged that European nations must do more to bolster defense on the continent. But he also warned against capitulating to Russia.

      "This peace must not mean a surrender of Ukraine," Macron said. "It must not mean a ceasefire without guarantees. This peace must allow for Ukrainian sovereignty.” Macron cut off direct communication with Putin after Russian forces carried out brutal operations in the Kyiv suburb of Bucha months into the conflict. But he said the moment has changed and he hopes Trump's engagement with Putin can lead to something fruitful.

      “Now, there is a big chance because there is a new US administration, so this is a new context,” Macron said. “So there is good reason for President Trump to reengage with President Putin.” Putin said Monday that he has not discussed resolving the conflict in Ukraine in detail with Trump and neither did Russian and American negotiating teams when they met in Saudi Arabia last week.

      Putin also said Russia does not rule out European countries — who were dismayed that they and Ukraine were not invited to the table in Riyadh — participating in a peace settlement.

      America's ties with Europe The war's anniversary — and the talks at the White House — come at an unnerving moment for much of Europe as it witnesses a dramatic shift in American foreign policy under Trump.

      Besides rare earth minerals from Ukraine, Trump has made demands for territory — Greenland, Canada, Gaza and the Panama Canal. Just over a month into his second term, the “America First” president has cast an enormous shadow over what veteran US diplomats and former government officials had regarded as America's calming presence of global stability and continuity.

      Despite some hiccups, the military, economic and moral power of the United States has dominated the post-World War II era, most notably after the Cold War came to an end with the collapse of the Soviet Union. All of that, some fear, may be lost if Trump gets his way and the US abandons the principles under which the United Nations and numerous other international bodies were founded.

      “The only conclusion you can draw is that 80 years of policy in standing up against aggressors has just been blown up without any sort of discussion or reflection,” said Ian Kelly, a US ambassador to Georgia during the Obama and first Trump administrations and now a professor at Northwestern University.

      European leaders in Washington Trump is set to hold a meeting Thursday with another key European leader, British Prime Minister Keir Starmer.

      Trump shook Europe with repeated criticism of Zelenskyy for failing to negotiate an end to the war and rebuffing a push to sign off on a deal giving the US access to Ukraine's critical minerals, which could be used in the American aerospace, medical and tech industries.

      Zelenskyy initially bristled, saying it was short on security guarantees. He said Sunday on X that “we are making great progress“ but noted that “we want a good economic deal that will be part of a true security guarantee system for Ukraine.” Zelenskyy, who said Sunday in response to a question that he would trade his office for peace or to join NATO, had angered Trump by saying the US president was living in a Russian-made “disinformation space.” As part of the public spat, Trump called Zelenskyy a “dictator” and falsely charged Kyiv with starting the war. Russia, in fact, invaded its smaller and lesser-equipped neighbor in February 2022.

      Asked Monday if he thought Putin was also a dictator, Trump demurred: “I don't use those words lightly.” Some daylight between allies While Macron and Trump were meeting, including participating in a virtual meeting with fellow Group of Seven leaders, the United States split with its European allies at the United Nations by refusing to blame Russia for its invasion of Ukraine in a series of resolutions.

      The US abstained from voting on its own proposal after the Europeans, led by France, succeeded in changing it to make clear that Russia was the aggressor.

      Before meeting with Trump, Macron said he intended to tell him that it's in the joint interest of Americans and Europeans not to show weakness to Putin and that Trump's dealings with the Russian leader could affect ties with China, the United States' most significant economic and military competitor.

      “You can't be weak in the face of President Putin. It's not you, it's not your trademark, it's not in your interest," Macron said. "How can you then be credible in the face of China if you're weak in the face of Putin?” Yet, Trump has shown a considerable measure of respect for the Russian leader. Trump said this month he'd like to see Russia rejoin the G7. Russia was suspended from the G8 after Moscow's 2014 annexation of Ukraine's Crimea region.

      “I really believe he wants to make a deal,” Trump said. "I may be wrong, but I believe he wants to make a deal. (AP) NB NB

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