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    Raktsey Karpo, Halman apricots spearhead Ladakh's biggest export drive; LG pitches processing unit
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    PROVISIONAL ESTIMATES OF WHOLESALE PRICE INDEX, OUTPUT PRODUCER PRICE INDEX, AND TRIAL INPUT PRODUCER PRICE INDEX FOR THE MONTH OF JUNE 2026, AND FINA...
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    July 15, 2026
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    Apricot export facilitation enables overseas market access through exporter-managed supply chains, cold-chain transport, and proposed local processing capacity.
    Apricot export facilitation for Ladakh's indigenous Raktsey Karpo and Halman varieties is being implemented through an agreement under which exporters manage harvesting, sorting, grading, packing, transportation and marketing. Administrative measures include transport monitoring, expedited transit arrangements and cold-chain support for perishable produce. A proposed apricot processing unit is intended to improve value addition, address short shelf life and support smoother exports while reducing post-harvest losses.
    July 15, 2026
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    India-UK trade agreement expands market access, tariff reductions, services trade and professional mobility across identified commercial sectors.
    The India-UK Comprehensive Economic and Trade Agreement entered into force as a free trade arrangement intended to expand bilateral market access and promote movement of goods and services. It provides for tariff reductions and supports trade, services and professional mobility. The agreement is expected to create opportunities for businesses, entrepreneurs, farmers, manufacturers, MSMEs and skilled workers, including in textiles, leather, gems and jewellery, engineering goods, marine products, chemicals and processed foods.
    July 15, 2026
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    Punitive tariffs for Russian oil purchases could make trade duties a geopolitical mechanism targeting India and other countries.
    Proposed United States tariff legislation would impose punitive tariffs on India and other specified countries for purchasing oil from Russia. Certain European countries purchasing Russian gas would be exempted on the stated basis that their purchases are limited and that they are reducing dependence on Russia. If enacted, the measure would expressly authorise tariffs as a geopolitical mechanism directed at countries considered to be financing another nation's war effort.
    July 15, 2026
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    Strait of Hormuz transit rights remain contested as blockade measures, toll disputes, and hostilities threaten regional energy exports.
    Maritime access through the Strait of Hormuz is disputed following the reimposition of a naval blockade, retaliatory threats affecting regional energy exports, and attacks on shipping routes. An interim arrangement had provided for toll-free transit during a limited negotiating period but left the later regulatory position unresolved. One side asserts a right to regulate traffic and potentially levy transit charges, while the opposing position maintains that passage should remain open without tolls. Continuing hostilities and stalled negotiations threaten navigational access and energy trade flows.
    July 15, 2026
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    Major banking shareholding acquisitions: draft directions propose simplified approval for subsequent investments by institutional fund categories.
    Draft directions propose a simplified approval process for subsequent acquisitions of major shareholding or voting rights in banking companies by mutual funds, insurance companies and pension funds. The proposals cover commercial banks, small finance banks, payments banks and local area banks. Regulated entities, the public and other stakeholders may provide feedback through the Reserve Bank's online consultation facility or by email within the stated consultation period.
    July 15, 2026
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    Wholesale and producer price indices report rising June inflation, revisions to April estimates, and manufacturing input-price movements.
    Provisional June 2026 and final April 2026 estimates are reported for the Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index under the base year 2022-23. Wholesale inflation increased year-on-year, driven principally by mineral oils, food articles, basic metals, and chemicals and chemical products. April WPI and Output PPI estimates were revised upward, while the April trial Input PPI was revised downward. The release also provides group-wise monthly and cumulative index data, weighted response rates for WPI estimates, and provisional and final data classifications.
    July 15, 2026
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    India-UK trade agreement operationalisation expands market access, tariff reductions, skilled mobility and social security support for enterprises and professionals.
    The India-United Kingdom Comprehensive Economic and Trade Agreement is intended to facilitate greater two-way movement of goods and services through tariff reductions and stronger access to the UK market for farmers, entrepreneurs, MSMEs and other sectors. Together with the Agreement on Social Security, it is described as promoting cooperation in technology, professional services and innovation, supporting mobility for skilled Indian talent, and assisting Indian professionals temporarily working in the UK.
    July 15, 2026
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    Zero-duty market access under the India-UK trade pact expands opportunities for domestic goods, enterprises, professionals and skilled mobility.
    The India-UK Comprehensive Economic and Trade Agreement has been operationalised, enabling a range of domestic goods to enter the UK market at zero customs duty and expanding market access for Indian farmers, entrepreneurs and micro, small and medium enterprises. A social security agreement has also entered into force to support Indian professionals temporarily working in the UK, improve enterprise competitiveness, and complement cooperation in technology, professional services, innovation and skilled-worker mobility.
    July 15, 2026
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    Accredited photovoltaic module testing strengthens reliability validation, safety qualification, and in-house product development under internationally recognised laboratory quality standards.
    NABL accreditation under ISO/IEC 17025:2017 recognises a photovoltaic module laboratory's technical competence to conduct testing through accepted procedures, calibrated equipment, qualified personnel and quality-management controls. Its scope includes module design and safety qualification, degradation testing and high-temperature operating-condition assessment. Environmental, electrical and mechanical evaluations-including thermal cycling, damp heat, humidity freeze, UV exposure, mechanical loads, leakage current, insulation and power testing-support design verification, reliability analysis, manufacturing consistency and product development.
    July 15, 2026
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    Export-led growth exposes weak domestic demand as high-technology manufacturing support raises trade imbalance and employment concerns.
    China's growth has become increasingly reliant on strong exports of high-technology manufactured products, while domestic consumption and investment remain weak. Household spending is constrained by the property-sector downturn and uncertainty over jobs and wages. Policy support and investment in artificial intelligence, robotics and advanced manufacturing have strengthened exports but raised concerns about trade imbalances, excess production capacity and employment creation. The policy direction identified is to strengthen the domestic market and maintain employment while pursuing higher-quality growth.
    July 15, 2026
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    India-UK trade agreement enables tariff reductions, market access and digital trade facilitation for expanded cross-border commerce and investment.
    India-UK Comprehensive Economic and Trade Agreement (CETA) entered into force, establishing tariff reductions, expanded market access and greater certainty for cross-border trade and investment. Its 30 chapters cover trade in goods and services, sanitary and phytosanitary measures, technical barriers to trade, digital trade, intellectual property and government procurement. Trade-facilitation and digital provisions are intended to improve cross-border commerce, while the framework supports bilateral business, investment and collaboration across services, manufacturing, technology and healthcare sectors.
    July 15, 2026
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    Equity market rebound follows softer United States inflation, supporting expectations of a less aggressive Federal Reserve policy stance.
    Indian benchmark equity indices rebounded in early trading, supported by bank and selected large-cap shares after the preceding session's decline. Softer-than-expected United States consumer inflation strengthened expectations of a less aggressive Federal Reserve monetary-policy stance and supported global risk sentiment. Stronger United States equities, generally positive Asian markets, Brent crude movements and foreign institutional investor equity sales were identified as relevant market factors.
    July 15, 2026
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    Foreign exchange market conditions lifted the rupee early, but crude prices, investor outflows and geopolitical tensions restrained gains.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, while elevated crude oil prices, foreign institutional investor outflows, higher US Treasury yields and West Asia tensions limited gains. A weaker dollar and positive domestic equity-market opening provided support. Intensified US-Iran conflict and risks to regional energy exports contributed to higher crude prices and dollar demand. Higher wholesale price inflation and growth in net direct tax collection formed part of the domestic economic backdrop.
    July 15, 2026
    Show AI Summary
    Proposed geopolitical tariffs would target major purchasers of Russian oil, alongside broad sanctions on Russia's economic sectors.
    Proposed United States legislation would authorise tariffs of up to 100 per cent on India, China, Slovakia, Hungary and Azerbaijan as major purchasers of Russian oil. It also contemplates broad blocking sanctions affecting Russia's energy, financial and defence sectors and designated persons. The tariffs would be narrowly targeted and subject to restricted waiver authority, while certain European purchasers of Russian gas would be exempted based on limited dependence and efforts to reduce reliance on Russia.
    July 14, 2026
    Show AI Summary
    Video-conference statement request in PNB fraud case pending decision on approver plea, with prosecution reply sought
    Purvi Modi, an accused in the Punjab National Bank fraud case, has sought permission to record her statement before the special CBI court through video conference. She has applied to become an approver, and the CBI has stated that her statement should be recorded before that application is decided. The court has sought the prosecution's response. Purvi Modi and her husband have already become approvers in a related money-laundering investigation conducted by the Enforcement Directorate.
    July 14, 2026
    Show AI Summary
    Rupee depreciation reflects crude oil pressures, safe-haven dollar demand, widening trade deficit, and rising global economic uncertainty
    The Indian rupee depreciated against the US dollar amid higher crude oil prices, renewed geopolitical concerns, increased safe-haven demand for the dollar, and rising global bond yields. Higher crude prices increased India's dollar-denominated import requirements, widened the trade deficit, and intensified foreign-exchange outflows. Merchandise exports increased year-on-year, but the trade deficit widened because of stronger imports. Wholesale price inflation also rose, while net direct tax collections increased on account of higher corporate tax receipts.
    July 14, 2026
    Show AI Summary
    Advanced technology in banking requires cybersecurity, internal controls, fraud prevention, and safeguards against data misuse.
    Banks were encouraged to use advanced technologies, including artificial intelligence, to expand their reach, improve operational efficiency, reduce costs, and enhance customer experience. This approach must be supported by robust cybersecurity, strong internal controls, and safeguards against fraud and misuse of data. The banking sector was also urged to serve all segments of the economy prudently, strengthen customer service, and consider developments involving the Central KYC Records Registry, counterfeit currency detection, MuleHunter, central bank digital currency, the Unified Lending Interface, Account Aggregator, FX Retail, and Retail Direct.
    July 14, 2026
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    Textile investment opportunities: Punjab promotes integrated value chains, single-window approvals, infrastructure, and export-focused industrial growth.
    Punjab's industrial policy aims to attract textile investment, expand employment and exports, and provide an industry-friendly environment through time-bound approvals, single-window and single-pen systems, and reduced bureaucratic obstacles. Punjab is promoted as having a complete textile value chain covering cotton cultivation, spinning, yarn, fabrics, knitting, processing, garments, manufacturing and exports. Its investment ecosystem is described as offering power tariffs, land facilities, transparent approvals, infrastructure and the Right to Business Act, while industry participation is encouraged to strengthen innovation, exports and inclusive economic growth.
    July 14, 2026
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    Betting proceeds laundering allegations link layered transactions and asset acquisitions to the Mahadev online betting syndicate investigation
    The Enforcement Directorate arrested Ebix Group chairman Vikas Garg under the Prevention of Money Laundering Act in an investigation concerning alleged laundering of proceeds from Mahadev Online Book and Skyexchange betting operations. The agency alleges that betting proceeds were routed through hawala entries, shell entities and layered transactions into entities owned or controlled by Garg, and used to acquire shares, securities and other assets. It further alleges that Garg acquired a controlling stake in EbixCash using such funds. The investigation concerns a franchise-based betting syndicate operating through multiple online platforms.
    July 14, 2026
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    Corporate tax growth strengthens direct tax collections, reflecting resilient profitability, advance tax payments, and improving compliance
    Net direct tax collections rose by 16.40 per cent to over Rs 6.51 lakh crore up to July 13, driven mainly by a 22 per cent increase in net corporate tax collections. Net non-corporate tax collections also increased, while Securities Transaction Tax collections grew by 48 per cent. Gross direct tax collections rose by 16.11 per cent, and refunds increased by 14.57 per cent. The collection trend was associated with resilient corporate profitability, stronger corporate advance tax payments, continued compliance and increasing formalisation.

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      Natural Resources Defense Council (NRDC) Hosts Global Forum on Heat & Cooling Solutions in India

      March 19, 2025

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      Global leaders urged greater collaboration in advancing solutions to tackle climate change New Delhi, Delhi, India (NewsVoir) The Global Heat & Cooling Forum, organized in partnership with National Disaster Management Authority (NDMA), Department of Science and Technology (DST) and The World Bank Group by the NRDC, concluded today in New Delhi after two days of solution-driven deliberations, discussions on partnership opportunities, and sharing commitments to build climate-resilient communities and to accelerate sustainable cooling solutions. The Forum brought together government officials at the national and state level, policymakers, academics, climate practitioners, civil society and media to address the tackling of extreme heat and sustainable cooling as interconnected issues.

      Addressing the forum in his Keynote address, Dr. Chandra Sekhar Pemmasani, Hon’ble Minister of State for Rural Development and Communication, said, “Heat is not just a climate issue. It is a humanitarian crisis. Promoting energy efficient cooling systems and prioritizing vulnerable communities will enable India to build a cooler, more sustainable and resilient future.” The minister highlighted the importance of embracing both innovation and traditional knowledge systems, such as millet farming, water tanks, and clay homes, which have enabled rural communities to adapt to extreme heat. “Our policies must learn from these practices to create scalable, equitable solutions for a warming world,” he added.

      Recognizing India’s diverse climatic contexts and increasing vulnerability to extreme heat, the forum centered on three strategic pillars: driving scalability of sustainable heat and cooling solutions, ensuring equitable access to thermal comfort for all and protecting communities from extreme heat. With India and the world facing increasing extreme heat events and growing cooling demands, the Forum served as a crucial platform for multi-stakeholder collaboration in aligning policy, technology, and financing to drive equitable climate-resilient solutions.

      Speaking at the event, Abhas Jha, Practice Manager, Climate Change and Disaster Risk Management, South Asia Region, The World Bank, said, “India's heat burden will triple over this decade, even in a moderate heat scenario, as underlined by rising heatwaves and temperatures year-on-year. This is exacerbated by the high climate cost of cooling. India's response, in the form of the India Cooling Action Plan and Heat Action Plans, is commendable. However, we now must prioritize proactive, preventive and multisectoral solutions to addressing heating more equitably." A central theme of the forum was ensuring that low-income and marginalized communities have access to affordable and effective cooling solutions. Discussions underscored the importance of policy alignment, industry innovation, and financing partnerships to scale cooling interventions across India towards this objective. Moving beyond short-term relief, experts stressed the need for long-term resilience strategies, equitable access to cooling, and sustained investment. Treating heat as a structural development challenge requires proactive leadership, community-driven action, and data-informed solutions at all levels.

      Manish Bapna, President & CEO, NRDC, reinforced the commitment to work on these two issues synergistically, stating, "Addressing the twin, deeply interlinked crises of extreme heat and sustainable cooling requires bold and collective action, guided by equity and scalability. We must ensure that the most vulnerable communities—those disproportionately affected by climate change—have access to equitable and sustainable cooling solutions. This forum showcases how collaboration across governments, industries, and civil society can drive systemic change, advancing India’s climate goals while safeguarding public health and protecting our most vulnerable populations.” Hosted at Bharat Mandapam on March 17 and at The Imperial on March 18, Day 1 explored the interconnected nature of tackling extreme heat and sustainable cooling. Climate experts including Radhika Khosla, Associate Professor, University of Oxford; Roxy Mathew Koll, Climate Scientist, Indian Institute of Tropical Meteorology; Joy Shumake-Guillemot, Lead, WHO/WMO Joint Office for Climate and Health; and Amit Prothi, Director General, Coalition for Disaster Resilient Infrastructure, discussed the Heat-Cooling Paradox—where rising temperatures drive greater demand for cooling, but reliance on inefficient and non-renewable energy solutions further exacerbates climate change; intensifying heat stress. The session highlighted strengthening governance frameworks—from the national to local level —and multi-stakeholder partnerships as key to comprehensive and localiszed Heat Action Plans.

      The day concluded with insights from Saurabh Kumar, Vice President, India, Global Energy Alliance for People and Planet; Dr. Aakash Srivastava, Additional Director, National Program on Climate Change and Human Health, National Centre of Disease Control Ministry of Health and Family Welfare, Government of India; Sujata Saunik, Chief Secretary, Government of Maharashtra; Sandra Akua Akpene Adayemi Freitas, CEO, Sustainable Solutions for Africa; and Gaya Prasad, Deputy Director General (Rural Housing), Ministry of Rural Development, Government of India, on empowering local communities and driving policy alignment to bolster resilience.

      Day 2 shifted focus to practical solutions and financing mechanisms, addressing equitable access to cooling, exploring passive cooling technologies, and nature-based solutions. Prof. Kristie Ebi, Center for Health and the Global Environment (CHanGE); University of Washington; Dr. Ronita Bardhan, Cambridge University; Melanie Slade, Senior Programme Manager, International Energy Agency; Shruti M. Deorah, Executive Director, India Energy & Climate Center (IECC) and Goldman School of Public Policy, University of California, Berkeley emphasized the economic and health impacts of extreme heat, particularly on vulnerable communities.

      Safi Ahsan Rizvi, Advisor, National Disaster Management Authority, NDMA; Aaran Patel, Executive Director, Climate, The Nand & Jeet Khemka Foundation; Deepak Singh, Lead Disaster Risk Management Specialist at The World Bank; Nidhi Upadhyaya, Deputy Director for Global Policy and Finance, Climate Resilience Center, Atlantic Council; and Sandeep Jain, Chief Financial Officer, Bajaj Finance Limited highlighted scalable financing models to support heat resilience efforts, with case studies showcasing successful funding mechanisms in the Global South. Their session concluded with insights from Daniel P Schrag, Professor, Harvard Department of Earth, on effective communication and storytelling, reinforcing the need for community engagement and sustained investment in climate resilience.

      Building on the momentum of the Forum, NRDC, NDMA, DST and The World Bank will work on a follow up consultation with national and state stakeholders to provide advice and support the development and implementation of integrated solutions to the dual challenges of extreme heat and sustainable cooling, based on ideas that evolved from the March 2025 Global Heat and Cooling Forum.

      About NRDC NRDC (Natural Resources Defense Council) is an international non-profit environmental organization with more than 3 million members and online activists. Since 1970, our lawyers, scientists, and other environmental specialists have worked to protect the world’s natural resources, public health, and the environment. NRDC’s India Program on Climate Change and Clean Energy, launched in 2009 and registered as an independent organization in 2022, works with local partners to help build a low-carbon, sustainable economy.

      www.nrdc.org X: @NRDC About the Global Heat & Cooling Forum The Global Heat & Cooling Forum aims to convene key stakeholders from government, industry, academia, and non-governmental organizations to explore practical strategies for addressing the global challenge of securing much broader protection from extreme heat through sustainable cooling solutions.

      For Hindi press release, please click here.

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

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