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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.
August 1, 2026
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Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
July 31, 2026
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Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
July 31, 2026
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Greenfield airport development under a public-private partnership advances licensed international passenger, cargo, logistics, and sustainable infrastructure.
A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.

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Fostering Growth and Inclusivity

March 3, 2025

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The Strategic Impact of GeM on India’s Economy

Introduction

Public procurement plays a crucial role in a nation’s economic growth, directly impacting the lives of its citizens. When governments purchase goods and services efficiently and transparently, it not only ensures the effective use of public funds but also stimulates economic opportunities for businesses of all sizes. This, in turn, drives employment, promotes innovation, and contributes to overall societal development. In India, the Government e-Marketplace (GeM) has emerged as a game-changer in public procurement, creating an open and inclusive platform that benefits not just government buyers but also local entrepreneurs, startups, and small businesses.

In alignment with the societal development of the nation, GeM has enabled startups to fulfil orders worth ₹ 35,950 Crore. Women entrepreneurs comprise 8% of the total seller base on GeM, with cumulative 1,77,786 Udyam-verified women micro, and small enterprises (MSE) registered on the GeM portal, having fulfilled a cumulative order value of ₹46,615 Crore.

What is GeM?

Government e-Marketplace (GeM) is an online platform for public procurement in India which was envisaged by Prime Minister Narendra Modi. The initiative was launched on August 09, 2016 by the Ministry of Commerce and Industry with the objective to create an open and transparent procurement platform for government buyers.

Core Principles of GeM

GeM is characterized by three core elements:

Openness: GeM shall be an open marketplace wherein it promotes access to information and transparency. Relevant information on sellers, goods, and services shall be easy to find and readily available for users. GeM shall provide databased insights to help users in decision-making and ascertaining price reasonability.

Fairness: One of the platform’s key objectives is to allow sellers, big and small, to gain direct access to Government buyers. In doing so, all sellers shall be treated fairly and GeM shall not offer promotional treatment to one seller over the other. GeM shall support the intentions behind the preferential market access policies and ensure that all sellers are provided with a level playing field. This will ensure the health and competitiveness of the marketplace.

Inclusiveness: GeM shall promote inclusiveness, which means that all Government buyers and sellers shall be accepted on the platform. GeM shall aspire to create a robust seller base and all sellers interested in conducting business with the Government shall be welcomed on the platform. For buyers and sellers that do not have the know-how of using GeM, additional assistance in the form of focused training, onboarding sessions and continued feedback and support shall be provided.

Key Features of GeM

SWAYATT: Promoting Ease of Doing Business

SWAYATT is portal’s commitment to enhance ease of doing business and establish direct market linkages to annual public procurement for startups, women entrepreneurs, Micro & Small Enterprises (MSEs), Self Help Groups (SHGs) and youth, especially those from backward sections of the society. Since inception, the initiative is focused at facilitating the training and onboarding of last-mile sellers, developing women entrepreneurship and encouraging participation and small-scale businesses in government procurement.

Startup Runway 2.0: Showcasing Innovation

Startup Runway 2.0 is an opportunity for Startups to showcase their innovative products and services to Government buyers and engage in public procurement. GeM has created a dedicated marketplace category for all Startups to list their products and services, irrespective of their DPIIT-certification. The platform offers Startups all the marketplace functionalities that are available to regular sellers and the objective is to spur "Make In India" procurement from India Startups.

 Womaniya: Empowering Women Entrepreneurs

"Womaniya" initiative seeks to showcase products made by women entrepreneurs and women self-help groups [WSHGs], and spur Women entrepreneurship by aligning them with opportunities to sell their products to various Government ministries, departments and institutions. GeM has specially categorized products such as handicrafts and handloom, accessories, jute and coir products, bamboo products, organic foods, spices, home décor and office furnishings for ease-in-procurement. Womaniya aligns with Government’s initiative of reserving 3 percent in public procurement from women MSME entrepreneurs and this offers immense potential for procurement.

MSME SC/ST entrepreneurs on GeM

GeM is collaborating with various stakeholders from the Micro, Small and Medium Enterprises [MSME] ecosystem with special focus on entrepreneurs from the Scheduled Caste/ Schedule Tribes [SC/ ST]. The partnership is based on the objective of achieving the mandatory procurement goal of 25 percent from MSMEs and a sub target procurement of 4 percent goods and services from MSME entrepreneurs within SC/ ST communities, by all government departments and public sector enterprises [PSE]. This initiative seeks to encourage active participation of MSE sector in public procurement.

The Saras Collection: Celebrating Handcrafted Excellence

The SARAS Collection is a pristine handcrafted collection of handicrafts, handloom textiles, office décor, furnishings, accessories, event souvenirs, personal hygiene and care products from top of the line SHGs in India.

GeM Statistics: A Snapshot of Growth and Impact

The latest statistics reveal significant activity in the marketplace, showcasing a robust ecosystem with 162,985 primary buyers228,754 secondary buyers, and a diverse range of 11,006 product categories and 332 service categories. In the last financial year, the order volume reached 62,86,543, with an order value of ₹4,03,305 Crore. Continuing its momentum, the current financial year has already recorded 61,23,691 orders worth ₹4,52,594 Crore. Notably, 37.87% of the total order value is attributed to Micro and Small Enterprises (MSEs), underscoring GeM's role in empowering local businesses and fostering inclusive economic growth.

Data as on 28 February 2025

Conclusion

Government e-Marketplace (GeM) has transformed public procurement in India by promoting transparency, efficiency, and inclusiveness. By empowering startups, women entrepreneurs, and MSMEs, GeM fosters economic growth and social equity. The platform's strategic initiatives, such as SWAYATT, Startup Runway 2.0, and Womaniya, have significantly contributed to the ease of doing business and enhanced participation in government procurement. As GeM continues to evolve, it remains committed to its vision of creating a sustainable, open, and competitive marketplace, driving India's progress towards inclusive and transparent public procurement practices.

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References

https://gem.gov.in/

https://pib.gov.in/PressReleseDetailm.aspx?PRID=2106076&reg=3&lang=1

https://assets-bg.gem.gov.in/resources/pdf/GeM_handbook.pdf

Topics

Acts Income Tax