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    DFS Highlights Mechanism for Timely Redressal of Insurance Policyholders’ Grievances
    Forex kitty jumps USD 14.14 bn to USD 707 bn in one of the biggest weekly expansions
    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
    IDFC FIRST Bank secures its first international rating with Investment Grade from S&P Global Ratings
    DRI busts illegal drug manufacturing facility in Jewar, UP; 30 kg drugs seized and two persons arrested
    UCO Bank launches IFSC Banking Unit at GIFT City
    Banking sector has key role to play as India on way to become 3rd largest economy: Gujarat CM
    India's exports to US rise 12.85 pc in Jul; shipments to China jump 64.57 pc: Govt data
    50 tonnes of copper without e-way bills seized by Delhi GST, Railways joint team
    India's exports surge 19.6 pc in Jul; trade deficit widens to six-month high
    CBI ARRESTS CGST SUPERINTENDENT IN BRIBERY CASE
    The cumulative exports (merchandise & services) during April-July 2026-27 is estimated at US$ 316.42 Billion, as compared to US$ 279.63 Billion in Apr...
    Unlimit Mobile Ties Up with ICICI Bank Canada, RBC Royal Bank to Add Mobile Connectivity Benefits to Student GIC Journey
    Standard Chartered Accelerates India's GCC Growth with its Global Banking Expertise and 25 Years of GCC Experience
    IFSCA Grants Nexent Capital GIFT City Investment Banking License
    India's exports rise 19.63 pc to USD 44.24 bn in Jul; trade deficit widens to $31.98 bn
    Vizhinjam port to commence EXIM operations from Aug 18: Kerala CM Satheesan
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    August 14, 2026
    Show AI Summary
    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
    Show AI Summary
    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
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    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
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    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
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    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.
    August 13, 2026
    Show AI Summary
    Bribery allegations in GST enforcement prompted arrest after alleged payment demand to avoid a tax-liability notice.
    Bribery allegations involving GST enforcement led to the arrest of a CGST Superintendent after a complaint alleged that payment was demanded from a private company to avoid issuance of a tax-liability demand notice and to close the matter. A trap operation resulted in the public servant being apprehended while allegedly accepting part of the demanded bribe, and the amount accepted was recovered. Searches were undertaken, and investigation remained ongoing.
    August 13, 2026
    Show AI Summary
    Trade performance shows rising merchandise and services exports, but faster import growth expands the overall trade deficit.
    India's combined merchandise and services exports and imports increased in July 2026 and April-July 2026-27, while the overall trade deficit widened. Cumulative exports were estimated at US$ 316.42 billion and imports at US$ 365.85 billion, resulting in a trade deficit of US$ 49.43 billion. Merchandise exports, non-petroleum exports, and exports excluding petroleum and gems and jewellery grew, led by petroleum products, electronic goods, engineering goods and chemicals. Services trade recorded a cumulative surplus of US$ 69.17 billion.
    August 13, 2026
    Show AI Summary
    Student GIC referral programmes integrate connectivity credits with funding verification and post-arrival banking arrangements for eligible international students.
    Referral arrangements connect mobile connectivity benefits with the Student Guaranteed Investment Certificate application journey. Applicants may access an online portal through a referral link, submit documents, complete know-your-customer verification, and fund the GIC from permitted Indian bank accounts in no more than two transactions. After arrival, students may activate the GIC account and open a linked bank account for receipt of GIC transfers. Eligible verified applicants receive non-cash mobile credits usable only against mobile bills, subject to a cap on the bill portion payable through credits.
    August 13, 2026
    Show AI Summary
    Global Capability Centre banking support connects offshore and onshore operations to simplify financial management and enable cross-border expansion.
    Global Capability Centre banking support is positioned around connected offshore and onshore banking, international network access, digital banking platforms, and expertise in treasury centres, cross-border corporates, and evolving GCC operating models. The approach seeks to simplify financial operations and support GCC expansion across global markets. India's GCC ecosystem is characterised as a leading global capability hub, with capability centres evolving into strategic enterprise hubs requiring support for operational and financial complexities across markets.
    August 13, 2026
    Show AI Summary
    Investment banking registration enables regulated cross-border offerings, listings, debt transactions and capital-market advisory through GIFT City.
    IFSCA registration under the IFSCA (Capital Market Intermediaries) Regulations, 2025 authorises Nexent Capital IFSC Private Limited to operate as an investment banker from GIFT City. Permitted activities include management of initial and follow-on public offerings, SPAC and secondary listings, depository receipt issuances, debt capital-market transactions, and other capital-market advisory mandates. The firm proposes to provide transaction structuring, listing-readiness, execution and post-listing capital-markets support for companies seeking capital raising and listing opportunities through GIFT City's exchanges.
    August 13, 2026
    Show AI Summary
    Merchandise export growth was driven by petroleum, electronics, engineering and marine goods, while rising imports widened the trade deficit.
    India's merchandise exports increased in July, while imports also rose and widened the trade deficit. Export growth was attributed to higher overseas shipments of petroleum products, electronics, engineering goods and marine goods. Exports and imports both recorded growth during the April-July fiscal period, and exports to West Asian countries increased in July.
    August 13, 2026
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    EXIM operations at international seaport to commence after customs clearance, bonded-area establishment, and temporary highway connectivity.
    Vizhinjam International Seaport is scheduled to commence EXIM operations after Customs clearance, issuance of Customs notifications, establishment of a Customs-bonded area, and temporary connectivity to NH-66. The port had previously handled transshipment operations. A proposed transfer of a stake in the port concessionaire to a foreign shipping company remains under committee examination and requires Central Government consideration of strategic and security aspects.

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      Customs & Trade

      New Product Launches, Special Sessions & Summits, and Key Insights at GTTES 2025 set to revolutionize the Textile Machinery Sector

      March 6, 2025

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      Mumbai Mar 06, 2025: The Indian International Textile Machinery Exhibitions Society (India ITME Society) successfully conducted the Global Textile Technology and Engineering Show (GTTES 2025) from 21st to 23rd February at the Bombay Exhibition Centre, Goregaon (East), Mumbai. The three-day event was another milestone for the textile industry of India in demonstrating its technological progress and promoting global cooperation in the field of textile machinery.

      GTTES 2025 was graced by the presence of prominent personalities, such as Dr. Kailash Shinde, Commissioner of the Navi Mumbai Municipal Corporation, and Mrs. Roop Rashi Mahapatra, the Textiles Commissioner of the Government of India, and many other esteemed dignitaries from across the globe. Their presence served to underline the importance of this event in determining the continued development of the entire textile industry in India and globally.

      Mr Ketan Sanghvi, Chairman and members of the steering committee of India International Textile Machinery Exhibitions said, "GTTES 2025 is dedicated to magnifying business and trade for textile machinery manufacturers. This exclusive forum allows participants to interact with agents and dealers, not only from India but also from across the globe, facilitating invaluable connections and partnerships. The exhibition will serve as a launching pad for companies to showcase their latest products and innovations.” The event was characterized by historic product releases and exhibitions by top industry leaders. Some of the major highlights included the launching of new products by the likes of Laxmi Shuttleless Looms Pvt Ltd, ColorJet India Limited, Caru-Natex, Ingersoll-Rand (India) Limited, among others. These offerings captured the trend of the industry to advance technology and improve efficiency in various segments of the textile machinery market, including weaving, digital printing, processing, and spinning.

      A special session was organized by the Government of India – Bureau of Indian Standards (BIS) which highlighted the role of standardization in textile machinery. The most memorable part of GTTES 2025 was the inauguration of India ITME 2026 and the India ITME Awards, honoring remarkable achievements in the textile sector. It also featured a Symposium on Indigenous Development of Textile Machinery, sponsored by the Veermata Jijabai Technological Institute (VJTI) jointly with the Federation of Societies for Indian Development (FSID) and the Indian Institute of Science (IISC) Bangalore Chhattisgarh Investment Summit and B2B sessions with overseas delegates were a great platform for networking, cooperation, and the establishment of new alliances. The event was a huge success in terms of providing a platform for interaction between domestic and global stakeholders, enhancing the global presence of India's textile machinery industry.

      Praveen Shukla, Additional Director, Chhattisgarh State Industrial Development Corporation Limited said, “The textile sector is one of the key contributors to Chhattisgarh’s economy, with exports amounting to $35.9 billion over 24 years, contributing 2.3% to India’s GDP and 10.5% to national exports. Chhattisgarh is a power surplus state, supplying power to 13 other states, and providing uninterrupted power supply for businesses, a crucial factor for industrial growth. It is set to become the textile hub of tomorrow, with growing exports in cotton, silk, and man-made fabrics, and an upcoming textile park in Jangir Champa. With more than 25,000 MSMEs and over 1,400 DPIT-registered startups, Chhattisgarh is fostering a thriving entrepreneurial ecosystem.” The B2B Pavilion also signed several Memorandums of Understanding (MOUs) between leading industry players such as the Asian Arab Chamber of Commerce. The MOUs were important collaborations that would promote innovation and development in the textile industry.

      The event also included many informative sessions on important industry issues, such as a Post-consumer Textile Recycling session that focused on sustainable methods in the industry titled “Threads of Transformation.” A Recycled, Upcycled & Sustainable Fashion Art & Fashion Show showcased innovative solutions to problems of textile wastage and appealed for sustainability throughout the fashion and textile industries.

      In its last day, the event was attended by a variety of professionals from all over the textile and machinery sectors. It provided a complete overview of the newest technology developments and presented a business development platform, and an insight into the future trends within the textile machinery sector.

      GTTES 2025 solidified India's leadership in textile technology and innovation globally, with the event serving as a key driver of the textile machinery industry. The exhibition offered a valuable platform for businesses to showcase their products, network with prospective customers and partners, and remain current on the most recent industry trends.

      The India ITME Society extends its gratitude to all participants, exhibitors, and attendees for the success of the event and welcomes the next edition of India ITME 2026.

      About GTTES 2025: A remarkable exhibition showcasing the needs of the Textile Industry, an exclusive forum to explore the fascinating world of textiles through stunning displays, interactive installations, and thought-provoking artwork. It is an opportunity to immerse yourself in creativity and inspiration.

      The exhibition promises to be an unforgettable journey and it is dedicated to magnifying the business and trade for Textile Machinery Manufacturers, through interaction with agents/dealers not only from India but also from across the Globe. It serves as a platform for companies to demonstrate their products, network with potential clients and partners, and stay updated on industry trends of Textile Business. The textile industry also accounts for 13% of industrial production, 2.3% of GDP, and 12% of foreign exchange inflows into the nation. India has a 4% share of the global trade in textile and apparel.

      About India ITME Society: India International Textile Machinery Exhibitions Society (India ITME Society) is a non- profit apex industry body established in 1980 to support and serve the Textile Engineering Industry through exhibitions, Events, Trade Promotion Services, Education Scholarships, Student Placements, and Consultancy etc. India ITME Society plays a pivotal role in strengthening the domestic as well as international Textile Industry by facilitating exchange of knowledge, technology transfer & encourages Foreign Direct Investments & Joint Ventures etc.

      (Disclaimer: The above content is a press release and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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