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    DRI seizes quantities of gold; drugs, e-cigarettes and other contraband in pan-India Ops; 20 persons, including 5 foreign nationals, arrested
    Union Government releases tax devolution of ₹1,09,019 crore to State Governments, as one advance instalment to accelerate their capital and deve...
    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
    Rupee rises 31 paise to 95.12 against US dollar in early trade
    Customs seizes 8 kg gold worth over Rs 11 cr at Kerala airports in one week
    Drill, Baby, Drill: India to fund Rs 650 cr per well for 60 deepsea wells to break its oil import habit
    Punjab GST revenue rises 20 pc to Rs 10,447 crore in April-July: Cheema
    India-China trade through Shipli La resumes after six years
    Odisha's export can reach USD 50 billion by FY 2029-30: Study
    Andhra records 21 per cent growth in net GST collections till July
    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
    Gross and Net GST revenue collections for the month of July, 2026
    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
    Gross GST collection kitty swells 15.4 pc to over Rs 2.11 lakh cr in July
    RBI says USD 40.82 bn mobilised under forex swap facility till Jul 31
    Sebi bars ZEEL for 2 months, Subhash Chandra, Punit Goenka for 1 year in Hyderabad land pledge case
    Department of Commerce Holds Workshop on Trade and Sustainable Development Policy Landscape
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    August 3, 2026
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    Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
    Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
    August 3, 2026
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    Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
    Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
    August 3, 2026
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    Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
    Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
    August 3, 2026
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    Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, attributed to lower global crude oil prices, a weaker dollar, sustained foreign portfolio inflows, higher foreign exchange reserves, and Reserve Bank of India presence in the foreign exchange market. Domestic equity market gains and net foreign institutional equity purchases were also identified as supporting factors.
    August 2, 2026
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    Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
    Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
    August 2, 2026
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    Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
    The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
    August 1, 2026
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    GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
    Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
    August 1, 2026
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    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
    August 1, 2026
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    Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
    Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
    August 1, 2026
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    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
    GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
    August 1, 2026
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    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
    Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
    August 1, 2026
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    PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
    PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
    August 1, 2026
    Show AI Summary
    Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
    Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
    August 1, 2026
    Show AI Summary
    GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
    GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
    August 1, 2026
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    Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
    Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.
    August 1, 2026
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    GST collection growth in West Bengal continued year-on-year in July but remained below the national growth trend.
    West Bengal's July GST collection increased year-on-year and over the preceding month, marking a second consecutive month of annual growth. Official data also indicated that the State's annual growth rate was below the national trend, while gross domestic GST revenue excluding imports and overall gross GST collections including import-related taxes rose nationally during July.
    August 1, 2026
    Show AI Summary
    GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
    Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
    August 1, 2026
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    Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
    The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
    August 1, 2026
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    Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
    Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.
    August 1, 2026
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    Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
    Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.

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      CHETU CELEBRATES 25TH ANNIVERSARY WITH RECORD-BREAKING REVENUE AND CONTINUED EXPANSION

      April 10, 2025

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      Global Digital Intelligence Company’s India Footprint Drives Technological Innovation and Highly-Skilled Workforce Noida, 10th April 2025– Chetu, a leading digital intelligence and software solutions provider, proudly celebrates its 25th anniversary with continued growth, expanded partnerships, future government contracts, and a record-breaking $74.54 million in annual revenue.

      "While this has been a year of navigating significant macro-economic challenges, we are proud to say that Chetu has achieved over $70 million in revenue for the third consecutive year," stated Atal Bansal, Founder and CEO. "This sustained growth, amidst a rapidly evolving tech landscape now dominated by AI, underscores our commitment to delivering both traditional software development and support services, as well as ground-breaking AI and agentic AI solutions across 40-plus industries.” For 25 years, Chetu has been an industry leader in innovative and custom software solutions. This past year, the company received industry recognition for its excellence in AI and Data Analytics solutions from leading research firms Omdia, Everest Group, and ISG. Omdia highlighted Chetu’s custom AI and machine learning expertise in its “On the Radar” report. At the same time, Everest Group recognized the company’s data and AI services in its “Mid-Market Enterprises PEAK Matrix® Assessment.” ISG’s report focuses on Chetu’s advanced analytics and AI services in the Sweet Spot” section of its “Provider Lens™ Advanced Analytics and AI Services” report.

      “Being honored by these leading research companies is a tremendous compliment to the hard work of every team member at Chetu, especially our highly trained and industry-specific development teams,” Bansal said. “We look forward to expanding our work with these firms as Chetu continues to set industry trends as a leader in AI development.” Reminiscing about the past quarter century, Bansal said he was proud of the entirely organic, employee-driven growth that Chetu was able to experience despite the ever-changing nature of the technology services industry that increasingly relies on investors and external capital.

      "Our organic growth is a rarity in the tech industry and has propelled us from a small 200-square-foot Miami office to a global presence,” Bansal said. “Thanks to our team members – our Chetu Family – we now operate across 13 locations throughout the U.S., Europe, and India, with nearly 2,800 software experts servicing our global clientele.” “As we navigate this dynamic technological landscape,” Bansal added, “I'm enthusiastic about Chetu's potential to drive industry advancements over the next quarter-century." Chetu India: A Key Player in Global Expansion Chetu India continues to be a critical part of the company’s global operations, contributing to the business’s technological success and developing a thriving, innovative workforce. The company is deeply committed to nurturing talent and fostering a culture of inclusivity and continuous learning across its India offices.

      “Our people are our most valuable asset, and we pride ourselves on providing a work culture that promotes growth, collaboration, and innovation,” said Saurabh Pawar, Director of Human Resources at Chetu. “Through initiatives like the Skill Centre program, we ensure that our team members are equipped with the latest industry skills, helping them thrive in an ever-changing technology environment." The Training and Development Program in India is designed to train both fresh recruits and seasoned professionals in the latest technologies, from AI/ML to cloud computing, ensuring that Chetu's workforce remains at the forefront of technological advancements.

      “At Chetu India, we believe in empowering our employees to grow in their careers, which directly contributes to the superior services we deliver to our clients worldwide,” Pawar added. “By investing in our team’s skills and fostering a healthy, collaborative environment, we’ve been able to build a team of over 2,800 dedicated professionals who consistently drive excellence.” Commitment to Corporate Social Responsibility (CSR) in India Chetu India’s CSR initiatives through the Chetu Foundation reflect the company’s commitment to social responsibility and making a meaningful impact in the communities it serves. One notable effort is the Sanatan Dharam Bal Vidya Mandir (SDBVM) School, where Chetu India actively supports the education of underprivileged children. The company also supports Akshaya Patra, an organization that provides school meals for children in India, demonstrating its ongoing dedication to uplifting communities through education and nutrition.

      “Supporting initiatives like the SDBVM School is just one of the ways we give back,” Pawar said. “By investing in the future of children and supporting educational endeavors, we are helping to break the cycle of poverty and create opportunities for a brighter future.” Looking Ahead With continued growth in India, Chetu is well-positioned to lead in the digital intelligence space for the next 25 years.

      “We have always believed that technology has the power to solve complex business challenges,” Pawar said. “As we look to the future, we are excited about the possibilities that lie ahead. Our people, our culture, and our commitment to innovation will continue to drive us forward as we embark on the next chapter of our journey.” 2024-2025 Highlights and Key Accomplishments • Expanded Federal and State Contracts: Increased emphasis on government opportunities, including being part of a major winning bid to offer enterprise integration and support services to selected government agencies.

      • Strategic Partnerships: Established new alliances with UKG and Workday while attaining IBM Silver Partner status.

      • Analyst Relations: Strengthened engagement with industry analysts to showcase Chetu’s innovative solutions.

      • Channel Partner Program Expansion: Introduced new incentives to drive growth within its channel ecosystem.

      • Regional Expansion: Relocated to larger offices in Tempe, AZ, Tampa, FL, and Las Vegas, NV, to accommodate increased demand.

      • Expanded Regional Growth in Latin America: Broadened reach and push into the LatAm market with increased Operations, Sales, and Marketing efforts.

      Awards & Recognitions • 2024 Silver and Bronze Stevies: The ABA and IBA, respectively—10 Stevies won since 2020.

      • Three 2024 Gold Globees: The International Business Awards, Golden Bridge Awards, and American Business Awards, bringing the total to six since 2023.

      • Inclusion in key CRN lists: The 2025 CRN MSP 500, 2025 Tech Elite 250, and 2024 CRN Solution Provider 500—now totaling 11 listings since 2020.

      • Forbes Technology Council Membership: Multi-year inclusion in the prestigious invite-only organization.

      • SFBJ’s Top Private 100 Companies: Recognized for the 14th time.

      • Type 2 SOC 1® Certification: 14th consecutive certification for adherence to financial reporting standards.

      • Inc. 5000 Honor Roll: Seven-time honoree for consistent growth and innovation.

      Commitment to Corporate Social Responsibility Chetu remains dedicated to philanthropy through the Chetu Foundation, which actively supports charitable initiatives, including: • $160,000 donation to Akshaya Patra: Funding school meals for children in India.

      • Community Engagement: Hosting annual toy and food drives, winter gear distributions, scholarships for students in India, and Earth Day events to support local communities.

      For more information about Chetu and the Chetu Foundation, please visit www.chetu.com and chetufoundation.org.

      About Chetu India: Founded in 2000, Chetu is an award-winning digital intelligence and software solutions provider. Employing over 2,800 software experts across the globe, Chetu is propelled from its three main software development centres located in Sector 63, Noida. Featuring over 169,000 square feet of development space, these state-of-the-art facilities provide the ideal setting for developers to work on the latest software solutions and rapidly advance their careers. Aside from offering superior development environments and a Training & Development Centre for the local community, Chetu's Noida campus also features modern amenities and programs such as gyms, cafeterias, and company-sponsored clubs to further promote the growth mindset of the Chetu family. For more information and to see current career opportunities, visit www.chetu.com.

      About Chetu Foundation: Founded in 2018, Chetu Foundation is the non-profit subsidiary of Chetu, a global digital intelligence and software solutions provider. Created to aid its team members in their philanthropic interests, the Chetu Foundation’s mission is based on the principles of “Empowering Children,” “Improving the Quality of Life,” “Giving Back to Communities,” and “Creating and Sustaining Change.” To learn more about the Chetu Foundation and the work of the Chetu team members, visit chetufoundation.org.

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

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