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    Need one or two Indian pharma firms to be among global top 5: PM Modi
    Small taxpayers with€™ foreign assets to face 30 pc tax plus penalty; disclosure scheme opens till Dec 31
    PM urges MSMEs to tap opportunities from FTAs
    Govt cuts windfall gains tax on petrol, diesel, ATF exports
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    Current account deficit widens to USD 6.2 bn in Jun: RBI data
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    PROVISIONAL ESTIMATES OF WHOLESALE PRICE INDEX, OUTPUT PRODUCER PRICE INDEX, AND TRIAL INPUT PRODUCER PRICE INDEX FOR THE MONTH OF JULY 2026, AND FINA...
    Logistics Data Bank Tracks 10 Crore EXIM Containers, Provides Visibility across Logistics Chain
    APEDA and Government of Tripura Organise International Organic Buyer-Seller Meet to Expand Global Market Linkages
    WPI inflation eases to 9.78 pc in July on softening in fuel prices
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    India's exports to US rise 12.85 pc in Jul; shipments to China jump 64.57 pc: Govt data
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    August 15, 2026
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    Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
    Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
    August 15, 2026
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    Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
    FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
    August 15, 2026
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    Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
    Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
    August 15, 2026
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    Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
    Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
    August 15, 2026
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    Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
    Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.
    August 14, 2026
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    Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
    India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
    August 14, 2026
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    Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
    The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
    August 14, 2026
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    Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
    Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
    August 14, 2026
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    Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
    India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
    August 14, 2026
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    Wholesale and producer price indices show July inflation movements, provisional estimates, final revisions, and manufacturing input-price trends.
    Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.
    August 14, 2026
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    Logistics data visibility enables EXIM container tracking, operational analytics and multimodal shipment monitoring across India's logistics chain.
    Logistics Data Bank provides near real-time visibility of India's EXIM container movement through technology-based tracking and stakeholder monitoring tools. RFID-based coverage extends across ports, terminals, inland logistics facilities, rail networks, industrial zones, borders and highways. The platform uses RFID, Internet of Things, Big Data and Cloud technologies, with analytics on dwell time, transit time, and port and terminal performance to identify logistics bottlenecks. LDB 2.0 adds high-seas tracking of export containers and multimodal shipment visibility.
    August 14, 2026
    Show AI Summary
    International organic buyer-seller linkages support Tripura producers through direct sourcing engagement, market access and sustainable export opportunities.
    International Organic Buyer-Seller Meet in Tripura created a direct platform for organic producers, Farmer Producer Organisations, exporters and international buyers to explore sourcing opportunities, market requirements and long-term commercial linkages. Organic and naturally produced goods, including Queen Pineapple, GI-tagged Kalikhasa Rice, organic ginger and turmeric, black sesame, jackfruit and scented lemon, were showcased through product displays and producer interactions. The initiative seeks to strengthen global market access, sourcing partnerships and income opportunities for organic farmers.
    August 14, 2026
    Show AI Summary
    Wholesale price inflation moderation was driven by softer fuel prices, while manufactured goods and primary articles recorded higher inflation.
    Wholesale price inflation moderated in July, led by a decline in fuel and power inflation and a marginal easing in food-article inflation. Inflation in manufactured products and primary articles increased, making the moderation uneven across groups. Mineral oils, food articles, basic metals, non-food articles, food products, and chemical products remained significant inflation drivers. The output Producer Price Index remained unchanged year-on-year, with lower manufacturing and mining inflation offset by higher agriculture and electricity producer-price inflation.
    August 14, 2026
    Show AI Summary
    International investment-grade issuer ratings support expanded foreign-currency funding, trade finance, correspondent banking and cross-border financial market access.
    IDFC FIRST Bank's inaugural international investment-grade issuer credit ratings, with a stable outlook, are expected to improve access to international funding markets and global financial counterparties. The rating is intended to support standby letter of credit lines, foreign-currency funding through its GIFT City International Banking Unit, mobilisation of FCNR(B) deposits, correspondent banking relationships and cross-border trade finance. Strong capitalisation, improving profitability, stable asset quality and a granular retail funding profile underpin the outlook.
    August 14, 2026
    Show AI Summary
    Clandestine psychotropic drug manufacturing faces enforcement targeting precursor chemicals, concealed laboratories, illicit production networks and trafficking operations.
    Enforcement action against clandestine manufacture of psychotropic substances led to the detection of a residential drug-production facility. Searches recovered amphetamine and intermediary forms, precursor chemicals, reagents, raw materials, and manufacturing equipment. Field testing indicated the presence of amphetamine, a psychotropic substance regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985. The recovered apparatus and materials indicated illicit manufacture, while preliminary investigation pointed to short-term, intermittently operated facilities intended to conceal production activities.
    August 13, 2026
    Show AI Summary
    International banking unit expands cross-border financing, trade finance and foreign-currency service access through GIFT City operations.
    UCO Bank has launched an International Financial Services Centre Banking Unit at GIFT City to provide permitted international banking services. The unit offers trade finance, external commercial borrowings, foreign-currency loans, loan syndication, treasury services and other permitted financial services. It serves Indian corporates, exporters, importers, financial institutions, overseas businesses and other eligible customers requiring cross-border financing and access to global financial markets. FCNR(B) deposits are also offered through the unit.
    August 13, 2026
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    Last-mile credit access is prioritised through timely lending, wider beneficiary coverage, digital support and stronger fraud vigilance.
    Banking-sector participation is emphasised through last-mile credit access for MSMEs, women entrepreneurs, rural artisans, small farmers and other underserved beneficiaries. Banks are urged to expedite government-scheme applications, maximise coverage and use technology for timely financial support. Industrial-policy assistance and incentives cover startups, SC/ST entrepreneurs, persons with disabilities and first-generation entrepreneurs. Greater coordination, expanded village banking access, and vigilance against cyber fraud and mule accounts are also prioritised.
    August 13, 2026
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    Merchandise trade growth saw rising exports to major markets alongside increased imports and continuing United States trade-pact negotiations.
    India's merchandise trade data records increased July exports to the United States and China, alongside growth in imports from both markets. Exports to Singapore, the United Arab Emirates, the Netherlands, Germany, South Africa, Tanzania, Australia, Malaysia, Sri Lanka, Italy and Vietnam showed positive growth, while July exports declined for the United Kingdom, Bangladesh, Saudi Arabia and Nepal. Imports also increased from Russia, Korea, Singapore, Germany, Oman, Malaysia, Taiwan and Brazil. India and the United States are negotiating a trade pact amid an additional United States tariff on India.
    August 13, 2026
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    GST transport documentation enforcement addresses freight movement of metals without valid e-way bills and invoices under applicable rules.
    GST enforcement action led to the seizure of copper and aluminium ingots transported by freight train without valid e-way bills and invoices. The metals were found in three train wagons during inspection of parcel cargo. Further proceedings are to be undertaken under applicable GST rules concerning movement of goods without prescribed transport documentation.
    August 13, 2026
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    Merchandise trade deficit widens as import growth outpaces exports despite strong petroleum, electronics and engineering shipments.
    Merchandise trade in July 2026 saw exports rise 19.63 per cent and imports increase 17.52 per cent, widening the trade deficit to a six-month high. Petroleum products, electronics, engineering goods and marine goods supported export growth, while crude oil and several commodity and capital-goods categories increased imports. During April-July 2026-27, faster import growth widened the cumulative merchandise trade deficit compared with the corresponding prior-year period.

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      135 Years of Sport Inspiration: U.S. Polo Assn. Hosts Celebration Cup Exhibition and Spring-Summer 25 Fashion Showcase in Delhi

      March 5, 2025

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      NEW DELHI, March 5, 2025 /PRNewswire/ -- U.S. Polo Assn. celebrates 135 years of sport inspiration as the official brand of the United States Polo Association (USPA) with a spectacular rendezvous in the heart of India's polo capital, Delhi. More than 300 VIP guests attended this milestone event honoring the sport's enduring legacy with an exhilarating exhibition game at the iconic Jaipur Polo Grounds, followed by an exclusive U.S. Polo Assn. Spring-Summer '25 fashion showcase at the luxurious D'Monde Members Club.

      As part of U.S. Polo Assn.'s global moment, this grand event united polo enthusiasts, fashion aficionados, and cultural tastemakers in an event that paid tribute to the sport's rich heritage and longstanding influence. The highlight of the evening was an intense and action-packed exhibition game, where the USPA India Team, led by HH Maharaja Sawai Padmanabh Singh of Jaipur, took on the USPA Global Team with players from around the world in a gripping championship. The final period saw fierce competition, with both teams battling goal for goal, but USPA India ultimately secured victory with a final score of 8-7, edging ahead by one goal.

      The Most Valuable Player of the game was HH Maharaja Sawai Padmanabh Singh of Jaipur, whose exceptional performance captivated the audience, while the Best Playing Pony title was awarded to a horse proudly owned by Bk. Jaisal Singh The USPA India Team featured: • HH Maharaja Sawai Padmanabh Singh of Jaipur • Simran Singh Shergill • Siddhant Sharma • Bk. Shamsheer Ali Competing for the USPA Global Team were: • Nicolas Corti Maderna (Argentina) • Lance Watson (South Africa) • Juancle Marambio (Argentina) • Bk. Jaisal Singh (England/India) Kulin Lalbhai, Vice Chairman Executive Director of Arvind Limited graced the occasion and threw the ball at the opening of the first chukker. Adding to the authenticity of the experience, renowned U.K.-based polo commentator Karl Ude-Martinez brought the game to life with his expert insights and dynamic storytelling, making it an unforgettable spectacle for attendees.

      Following the high-octane game, guests were invited to an exclusive fashion showcase at D'Monde Members Club, where U.S. Polo Assn. unveiled its much-anticipated Spring-Summer '25 collection. Staying true to the brand's DNA, the collection masterfully combined classic polo-inspired silhouettes with contemporary styling, embodying the spirit of both effortless elegance and dynamic sport-inspired fashion. From signature polo shirts and tailored separates to breathable linens and elevated casuals, the collection captured the essence of the sport of polo while catering to the evolving preferences of modern consumers.

      The event witnessed an eclectic mix of sports personalities, fashion insiders, cultural tastemakers like Maharaja Narendra Singh of Jaipur and cricketer Nitish Rana, Bollywood glitterati Harshvardhan Kapoor, Palak Tiwari, Rannvijay Singha, Varun Sood, Lakshya, and Babil Khan among others. Adding to the glamour were Kalyani Chawla, luxury entrepreneur & tastemaker, Samarth & Sameer Kasliwal of the Gem Palace; Priya Paul & Sethu Vaidyanathan of The Park hotels.

      "This 135th Anniversary celebration is a testament to the USPA's legacy in fostering the sport of polo while embracing the future," said J. Michael Prince, President and CEO of USPA Global, the company that manages and oversees the multi-billion-dollar U.S. Polo Assn. brand across 190 countries. "Bringing together the thrill of the game with a U.S. Polo Assn. global fashion showcase in a city as vibrant as Delhi underscores our mission to celebrate the authenticity of our global brand and the accessibility of the sport of polo and the brand, both on and off field." "India has always been an important market for us. Today, it is the fastest growing market for U.S. Polo Assn. globally and the brand continues to see very strong momentum. This very special event is a reflection of our ongoing commitment to further building our strong presence here," Prince added.

      Speaking on the significance of the event, Shailesh Chaturvedi, Managing Director & CEO of Arvind Fashions Ltd., said, "The sport of polo is deeply rooted in India's history, and continues to inspire our consumers. The U.S. Polo Assn. brand seamlessly blends tradition with modern style, and the launch of the Spring-Summer '25 collection in this historic setting is a tribute to the sport's timeless appeal. We are thrilled to be part of this grand global anniversary celebration." "Celebrating 135 years of sports inspiration is not just about marking a milestone—it's about honoring a legacy that blends the heritage of the sport of polo with a contemporary fashion sensibility. We take pride in bringing the spirit to India through fashion that reflects the sport's energy and legacy. With this celebration, we are inviting consumers and sports fans across India to become a part of this rich legacy of the sport of polo and celebrate the greatest story of sport and fashion," said Amitabh Suri, CEO, U.S. Polo Assn. India With Delhi as a key market, this event is a pivotal moment in U.S. Polo Assn.'s year-long global celebrations, which include major activations across North America, Europe, the Middle East, Latin America and Asia. Fans of the sport and brand enthusiasts will continue to be engaged with the 135th Anniversary Limited Edition Collection and through in-store experiences, digital activations, inspired by the sport's dynamic legacy.

      Stay connected and follow the journey at uspoloassn.in and on social media @USPoloAssnIndia for more updates on the 135th Anniversary celebrations.

      About U. S. Polo Assn.

      U.S. Polo Assn. is the official brand of the United States Polo Association (USPA), the largest association of polo clubs and polo players in North America, founded in 1890. With a multi-billion-dollar global footprint and worldwide distribution through more than 1,100 U.S. Polo Assn. retail stores as well as thousands of additional points of distribution, U.S. Polo Assn. offers apparel, accessories, and footwear for men, women, and children in more than 190 countries worldwide. Historic deals with ESPN in the United States and Star Sports in India now broadcast several of the premier polo championships in the world, sponsored by U.S. Polo Assn., making the thrilling sport accessible to millions of sports fans globally for the very first time.

      U.S. Polo Assn. has consistently been named one of the top global sports licensors in the world alongside the NFL, NBA, and MLB, according to License Global. In addition, the sport-inspired brand is being recognized internationally with awards for global and digital growth. Due to its tremendous success as a global brand, U.S. Polo Assn. has been featured in Forbes, Fortune, Modern Retail, and GQ as well as on Yahoo Finance and Bloomberg, among many other noteworthy media sources around the world.

      For more information, visit uspoloassn.in or uspoloassnglobal.com and follow @uspoloassn and @uspoloassnindia About Arvind Fashions Limited Arvind Fashions Ltd. is India's number-one casual and denim retailer, a lifestyle powerhouse with a strong portfolio of fashion brands catering to consumers across sub-categories and price points. Arvind Fashions houses a number of renowned brands, both international and indigenous, like U.S. Polo Assn., Arrow, Tommy Hilfiger, Calvin Klein, and Flying Machine.

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

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