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    Experts Call for Intelligence-Led Action to Break Cross-Border Illicit Trade Networks at ASIA Security Conference 2026
    How NRIs Can Structure Bank Accounts in India When They Have Both Indian and Overseas Financial Commitments
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August 25, 2026
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Intelligence-led enforcement against illicit trade requires coordinated data-sharing, risk profiling, digital accountability and disruption of organised supply networks.
Cross-border illicit trade enforcement should move beyond isolated seizures to intelligence-led disruption of organised criminal networks. Risk-based profiling, predictive analytics, container scanning and shipment-data analysis should support targeted action against misdeclaration, port-hopping, concealment and digital distribution. Right holders should share specific intelligence with customs targeting mechanisms, and goods entering Domestic Tariff Areas from warehousing and special economic zones require enhanced examination. Digital enforcement should trace suppliers, financial flows, data trails and small-parcel movements, supported by coordinated feedback between online marketplaces, police and customs.
August 25, 2026
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NRI banking account segregation aligns overseas earnings, domestic income, foreign-currency savings, remittances, and borrowing with cross-border commitments.
NRI banking arrangements require segregation of overseas earnings, India-sourced income, savings, remittances and expenditure after residential status changes. An NRE account holds overseas income remitted to India, with interest exempt from income tax in India. An NRO account is intended for Indian income, including rent, dividends and pension, while FCNR deposits retain funds in a chosen foreign currency. A structured arrangement can align these accounts with domestic obligations, overseas spending, remittances, investments and compliant digital banking access.
August 25, 2026
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Sugar import authorisation and anti-hoarding controls aim to moderate ex-mill prices amid adequate domestic stocks.
Raw sugar imports were permitted, while stock limits were imposed on bulk consumers. States were directed to strengthen inspections, and nationwide flying squads were deployed to identify hoarding and speculative conduct. These measures target sugar availability and distribution across wholesale and retail channels. Ex-mill prices declined following the measures, although wholesale and retail prices had not yet reflected the reduction.
August 25, 2026
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Foreign-currency swap window closure focuses non-resident deposit mobilisation, while ECB hedging support continues for public-sector borrowers.
RBI's concessional Foreign Currency Non-Resident Bank deposit swap window closes on August 31, replacing the previous September 30 cut-off. Separately, the special US dollar-rupee foreign-exchange swap window remains available until December 31, 2026, providing concessional currency-hedging support to public sector undertakings raising external commercial borrowings. SBI expects to mobilise predominantly through deposits from non-resident Indians and foreign investors, with external commercial borrowings also visible.
August 25, 2026
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Industrial power tariff revision applies only within the shared distribution area, while steel producers seek rollback and fuel supply support.
Industrial electricity tariff revision is proposed from 1 September for 33 KV and 11 KV consumers within the Damodar Valley Corporation command area. The increase is confined to the shared distribution-licence area, while a separate and higher tariff structure applies outside it. Steel and sponge-iron industry associations oppose the revision on the basis that it will raise energy costs and affect investment conditions. They seek withdrawal of the increase and request continuing supplies of high-grade coal and iron ore for sponge-iron production.
August 25, 2026
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Institutional capital facilitation prioritises repatriation, market access, regulatory predictability, and cross-border partnerships supporting technology-led long-term investment.
India-Japan investment engagement focuses on increasing long-term Japanese institutional capital flows through an enabling business environment, intellectual property protection, policy reforms and integration with global value chains. Facilitation measures include simpler profit repatriation processes, improved access to Indian capital markets, greater regulatory predictability and a seamless cross-border investment environment. GIFT City is explored as a gateway for international capital and Japan-India investment flows.
August 25, 2026
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Strategic investment partnership prioritises semiconductor manufacturing, resilient supply chains and advanced industrial collaboration between Indian and Japanese businesses.
India-Japan economic cooperation is directed toward deeper trade, investment, technology and business-to-business linkages, including economic security, supply-chain resilience, clean energy and innovation. Collaboration is focused on capital goods, machinery, automotive and advanced manufacturing, with stronger connections between Japanese enterprises and India's Tier-II and Tier-III suppliers, including Micro, Small and Medium Enterprises. Semiconductor manufacturing is identified as a significant investment area. The India-Japan Special Strategic and Global Partnership supports expanded engagement with manufacturing ecosystems, global value chains and resilient supply chains.
August 25, 2026
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Bilateral trade and investment cooperation advances through customs alignment, digital payment integration, market access discussions and investment treaty completion.
India-Cambodia trade and investment cooperation addressed trade diversification, market access, customs alignment, digital payments and investment facilitation. Discussions covered traditional medicine, e-governance, recognition of the Indian pharmacopeia, trade statistics, agricultural cooperation, banking and insurance. The parties agreed on an MoU on Customs Cooperation to promote uniform customs procedures and considered early completion and signature of the Bilateral Investment Treaty. UPI-KHQR payment integration, investment promotion, priority-sector cooperation and a private-sector feedback mechanism were also discussed.
August 25, 2026
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Voluntary pharmaceutical export compliance framework promotes legitimate trade while safeguarding controlled substances through information sharing and coordinated capacity building.
The Memorandum of Understanding creates a cooperative framework for legitimate pharmaceutical exports and safeguards against diversion of narcotic drugs, psychotropic substances and controlled precursors. A voluntary, non-binding code of conduct will recommend industry practices without imposing obligations beyond applicable law. Cooperation includes identifying export bottlenecks, streamlining procedures for compliant exporters, capacity-building programmes, lawful and confidential information sharing, and nomination of company contact persons to coordinate voluntary compliance measures.
August 25, 2026
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USD-INR forex swap facility accelerates foreign-currency mobilisation through non-resident deposits and institutional borrowing, strengthening India's external buffers.
USD-INR forex swap facility for FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings enabled banks to access foreign-currency funding through a special swap window. FCNR(B) deposits formed the principal component of the reported foreign-exchange inflows, reflecting participation by non-resident Indians. The FCNR(B) window was scheduled for early closure after the stated mobilisation objective was achieved ahead of schedule, and the inflows were presented as strengthening external buffers through long-term non-resident deposits and institutional funding.
August 25, 2026
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Foreign-exchange intervention moderated rupee depreciation as crude prices, importer dollar demand and geopolitical uncertainty sustained currency-market pressure.
Foreign-exchange conditions reflected a marginal weakening of the rupee against the US dollar, influenced by elevated crude-oil prices, importer demand for dollars, weaker Asian equities and geopolitical uncertainty. The currency remained within a narrow trading band, with RBI dollar sales described as moderating sharper depreciation. The RBI's special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings mobilised substantial foreign-exchange inflows, indicating support from non-resident Indian participants.
August 24, 2026
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Prior government sanction for public servants is contested as essential before money-laundering proceedings may validly proceed for official-duty acts.
Prior prosecution sanction is asserted to be a jurisdictional precondition for money-laundering proceedings against a public servant for acts connected with official duty. A former police officer challenges cognizance and process for want of sanction under the criminal procedure framework and the Maharashtra Police Act, relying on sanctions subsequently granted for co-accused public servants. The allegations concern collection of funds through the officer and their alleged laundering through an educational trust.
August 24, 2026
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Rupee exchange-rate movement gained marginal support from foreign equity inflows despite crude oil, importer demand and geopolitical pressures.
Rupee exchange-rate movement against the US dollar reflected a marginal appreciation, supported by foreign fund inflows into domestic equities. Trading remained within a narrow range amid pressures from higher crude oil prices, continuing importer demand, and geopolitical concerns. Market conditions also included a stronger dollar index, lower Brent crude futures, domestic equity declines, and net foreign institutional investment. Elevated oil prices and geopolitical uncertainty indicated a slight negative bias, while possible US dollar weakness could support the rupee.
August 24, 2026
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Retaliatory trade measures may target electricity, critical minerals and integrated automotive supply chains amid escalating cross-border tariff disputes.
Canada-United States trade relations involve escalating tariffs and contemplated reciprocal restrictions affecting goods, automotive production, electricity exports and critical-mineral supplies. Potential Canadian countermeasures include limiting or increasing the price of Ontario electricity exports and restricting supplies of critical minerals, with oil and potash also identified as possible leverage. The automotive sector faces particular exposure because Ontario production and supply chains are integrated with United States manufacturing. Negotiations also raised concern over limits on Canada's ability to conclude trade agreements with other countries without United States approval.
August 24, 2026
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Mandatory biometric updates for students support continued Aadhaar authentication and access to education, scholarship and benefit-related services.
Mandatory Biometric Update camps have been launched in schools across Tamulpur district, Assam, for eligible students aged 5 to 17 years to update Aadhaar biometrics. Aadhaar biometrics require updating on attaining five years of age and again on attaining fifteen years. Timely updating supports continued Aadhaar authentication and helps avoid difficulties in accessing services where authentication is applicable, including school admissions, entrance-examination registration, scholarships and Direct Benefit Transfer schemes.
August 24, 2026
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Electricity tariff affordability requires immediate review, withdrawal of higher consumer charges, and relief measures for economically weaker households.
Electricity tariff increase in Jammu and Kashmir has been opposed as imposing an unjustified and unaffordable financial burden on domestic consumers amid rising household costs. Immediate review and withdrawal of the increase are sought, together with measures to reduce electricity costs for domestic consumers, particularly economically weaker sections, and ensure affordable, reliable power supply.
August 24, 2026
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Wheat export liberalisation replaces prohibitions to support farm prices while domestic stocks are expected to protect consumer supply.
Wheat and wheat-product exports are liberalised with immediate effect by revising their export policy from prohibited to free. The change covers wheat, wheat flour, maida, semolina and wholemeal atta, replacing the earlier export-ban framework and simplifying exports previously permitted through licences. The measure aims to support farmers amid depressed domestic prices, while adequate domestic availability and buffer stocks are expected to meet demand and moderate consumer prices.
August 24, 2026
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Food safety compliance failures trigger licence suspensions for deficient hygiene, storage, refrigeration, sanitation and valid licensing practices.
Food safety enforcement measures resulted in suspension of food licences or registrations where establishments failed hygiene, food handling, storage, refrigeration, sanitation and licensing requirements. Deficiencies included unsafe temperature control, unclean refrigeration equipment, improper food storage and thawing, inadequate sanitisation, deteriorated or expired materials, deficient oil-quality checks, artificial colouring, pest infestation, cross-contamination risks and inadequate drainage. One outlet was also found to be operating under the name of an establishment without a valid food licence, resulting in suspension of its registration certificate.
August 24, 2026
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Central Board Governance expands through appointments of part-time non-official directors for defined terms, alongside central bank and government representatives.
Appointments to the Reserve Bank of India's Central Board expand its part-time, non-official director membership. Syed Akbaruddin, Annie George Mathew and Janmejaya Kumar Sinha have been appointed for four years from 24 August 2026, or until further orders, whichever occurs earlier. The Central Board also includes the Governor, deputy governors, the economic affairs secretary and the financial services secretary.
August 24, 2026
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Electricity tariff adjustment is linked to inflation and transmission losses, while free household units remain separately implemented.
Electricity tariff increase of 6.83 per cent after four years is presented as necessary in light of inflation and rising costs. Reducing transmission and distribution losses is identified as a means of limiting future tariff increases. Provision of 200 units of free electricity for poor and needy households through solar panels under the Muft Bijli Yojana is treated as distinct from tariff revisions.

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Text of Shri Kapil Sibal’s Speech at the Presentation of the National Innovation Council’s “2nd Report to the People, 2012”

November 3, 2012

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Press Information Bureau

Government of India

Ministry of Communications & Information Technology

02-November-2012 15:55 IST

Following is the text of Union Minister for Communications & IT, Sh Kapil Sibal’s speech on the occasion of the Presentation of the National Innovation Council’s  “2nd Report to the People, 2012” to the President of India. 

“I feel honored and privileged to be present here on the occasion of the release of the “2nd Report to the People, 2012” to the President of India by National Innovation Council

In the 21st century, innovation is the most important determinant of economic growth and development. Innovation is the engine for national and global growth, employment, competitiveness and sharing of opportunities.

Innovation carries spin-off benefits and yields social dividends through enhanced quality of life, reduction in poverty, improved health, better education and empowerment of weaker sections of society. Innovation leads to new product development and greater technology-based productivity which ultimately results in growth of value-added industries. The higher the value added per worker, the greater the average earnings per worker and higher standards of living.

Pandit Jawahar Lal Nehru, laid the foundation stones of innovation led society. To Pandit Nehru, science and innovation were not only a tool for economic development but also a means for the emancipation of mankind and the qualitative transformation of a stagnant society. The 1958 science policy resolution reflected his own belief beautifully: “It is an inherent obligation of a great country like India with its tradition of scholarship and original thinking, and its great cultural heritage, to participate fully in the march of science, which is probably mankind’s greatest enterprise today”.

The Government of India has declared 2010-2020 as the 'Decade of Innovation'. To discuss, analyze and help implement strategies for inclusive innovation in India and prepare a Roadmap for Innovation in the country, the Prime Minister has constituted the National Innovation Council (NIC) in September 2010 with members from diverse fields.

Ministry of Communications and IT has taken a number of initiatives to promote an ecosystem for innovation through ICT, in various sectors of the economy. I would like to highlight two key initiatives.

Let me begin with initiative number One, The Triad of polices. Three, interdependent and synergistic policies for Telecom, IT and Electronics Manufacturing have been released after consulting all stakeholders. The three policies together drives the National agenda for ICTE. The principal objectives of this policy are:

  • Optimally leverage our existing and developing ICT infrastructure and capabilities to meet our growing need for high quality social sector services like skill development, welfare programs, e-governance services as well as for banking and insurance.
  • To use the ICTE capabilities to enhance competitiveness and efficiency in manufacturing across the board and in key infrastructure sectors like power, transport and aviation.
  • Leveraging the mushrooming demand for ICTE products and services to foster innovation, encourage R&D through academic institutions and industry.
  • To reposition the mobile phone from a mere communication devise to an instrument of empowerment which combines communication with proof of identity, full secure financial and other transaction capability, multi-lingual services and the like.

The Triad of policies has extensive programs for R&D, IPR creation and financing of innovative projects in Telecom, Information Technology and Electronics Manufacturing sectors.

In the next 18 months, the Ministry of Communications and IT will vigorously implement these policies on the ground, to empower the common man through innovation and ICT revolution.

The second initiative is the National Optical Fibre Network (NOFN). To accelerate the reach of connectivity and to enhance development and innovation at the grassroots, NOFN will provide optic-fiber based Broadband connectivity to 250,000 Panchayats in the country. The aim is to leverage this connectivity so as to improve service delivery with transparency & accountability and to provide a platform for collective solution building and knowledge sharing for local populations through relevant applications and an associated ecosystem. The Government of India is committed to spend Rs 20,000 crore for implementing this project by Dec 2013.

NOFN will ensure that Panchayats are equipped with not just broadband connections, but also with computers, software and people to create, organise, distribute and deliver relevant information and provide needs-based applications which could be developed by understanding local needs, context and applicability. Services such as birth certificate, death certificate, land records, police reports, school admissions, health records, court papers, government documentation, renewal of licenses, tax submissions, etc. can be facilitated through broadband connectivity. It will thus enrich G2C (Government to Citizen) and B2C (Business to Citizen) interactions leading to greater collaborations.

Pilots in 58 Panchayat locations in Rajasthan, Andhra Pradesh and Tripura are underway. Shortly, Mr Pitroda will connect us, live to the Kanpura Panchayat in Ajmer district, Rajasthan to demonstrate the transformational impact of rural broadband in the citizens’ lives in Kanpura.

The Ministry is also working with the Ministry of Law and Justice, the Judiciary and the Ministry of Home Affairs to develop and deploy integrated and interoperable ICT systems in courts, police stations, prisons and forensic labs, to improve access to justice and reduce pendency in the legal system.

I am delighted to be associated with the endeavors of the National Innovation Council in driving the innovation agenda for the country. I would like to express my gratitude to Mr. Sam Pitroda for this opportunity.

I also like to extend my gratitude and regards to His Excellency, for taking time from his busy schedule to grace this occasion.”

Thank You

*****

MV/AT/RK

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