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    India–Nepal Inter-Governmental Sub-Committee on Trade, Transit and Cooperation to Control Unauthorised Trade Meets in New Delhi
    OnEMI Technology Solutions Limited’s Board Approves Fundraise of approximately ₹832 Crore through a Preferential Issue of Securities
    CGST Delhi South officers bust firm in fraudulent availment of ITC involving over Rs. 25.22 crore; proprietor arrested
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    CCI approves acquisition of certain additional shareholding in Azure Power Global Limited by OMERS Infrastructure Asia Holdings Pte. Ltd.
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September 18, 2026
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Customs cooperation and trade facilitation advance electronic origin verification, pre-arrival information exchange, and safeguards against preferential trade misuse.
Customs cooperation and trade facilitation measures included pre-arrival information exchange, electronic verification of Certificates of Origin, and Customs automation and digitalisation. These measures are directed at facilitating legitimate trade while ensuring compliance with applicable rules and preventing misuse of preferential trade arrangements. Rail and road connectivity, freight movement, Integrated Check Posts and land-port infrastructure were reviewed to improve infrastructure utilisation and address operational bottlenecks affecting bilateral and transit trade.
September 18, 2026
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Preferential equity issuance approved to strengthen capital, support digital lending expansion, and fund subsidiary operations subject to required approvals.
OnEMI Technology Solutions Limited has approved a preferential issue of equity shares to identified investors, subject to shareholder and requisite regulatory and statutory approvals. The issuance is proposed under the Companies Act, 2013, the SEBI capital-issue and disclosure framework, other applicable SEBI regulations, and applicable law. Seventy-five per cent of the additional capital raised is proposed for infusion into its wholly owned subsidiary to support lending, technology, digital capabilities and product expansion, while the remaining twenty-five per cent is proposed for general corporate purposes.
September 18, 2026
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Fraudulent input tax credit claims through bogus invoices prompted arrest over alleged invoicing without actual supply of goods.
Alleged fraudulent availment, utilisation and passing on of inadmissible input tax credit involved invoices from purported suppliers found to be non-existent, non-functional, suspended or cancelled. Input tax credit was allegedly claimed without actual receipt of goods and passed on through invoices unsupported by corresponding supplies. Following investigation and recorded statements, the proprietor of an iron and steel trading firm was arrested under statutory arrest powers, while further investigation remains in progress.
September 18, 2026
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Direct tax collections: stronger advance tax payments support growth in corporate, non-corporate, and securities transaction tax receipts.
Direct tax collections grew through September 17, supported principally by increased advance tax payments from corporate and non-corporate taxpayers. Gross collections exceeded Rs 14.32 lakh crore, while net collections, after refunds, exceeded Rs 12.12 lakh crore. Corporate tax collections grew more strongly than non-corporate tax collections, and Securities Transactions Tax receipts recorded significant growth. The trend indicated broad-based tax buoyancy, supported by underlying economic activity, taxpayer confidence and business performance.
September 18, 2026
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Reusable consent-based KYC enables integrated onboarding, reporting, record updates and periodic re-verification for regulated financial institutions.
Central KYC-based onboarding enables regulated financial institutions to reuse a customer's existing verified identity record through the Central KYC Registry with customer consent. The integrated solution supports onboarding, KYC reporting, unsolicited notifications and re-KYC. It retrieves consented KYC records through CKYC APIs, uses facial matching or video-based customer identification for authentication, and applies AI-based duplicate detection. Reporting automates validation, image correction and real-time registry submission, while record updates and simplified periodic re-verification support the currency of institutional KYC information.
September 18, 2026
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Benchmark interest rate normalisation raises borrowing costs while monetary policy monitors inflation, wage growth, currency risks, and economic recovery.
The Bank of Japan increased the uncollateralised overnight call rate from 1.0 per cent to 1.25 per cent, advancing monetary-policy normalisation after a prolonged period of near-zero or negative rates. The increase was assessed against gradual economic recovery, inflation near its target, wage growth, currency fluctuations, elevated crude oil prices, and external risks. Further tightening remains contingent on stable price increases, wage developments, and monitoring of other risks.
September 18, 2026
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Direct tax collections reflect stronger advance tax payments, alongside increased corporate tax, securities transaction tax, and refund issuance.
Net direct-tax collections exceeded Rs 12.12 lakh crore through 17 September, reflecting 13 per cent growth following increased advance-tax receipts. Gross direct-tax collections exceeded Rs 14.32 lakh crore, while refunds exceeded Rs 2.20 lakh crore. Corporate-tax and non-corporate tax collections increased, as did Securities Transaction Tax collections. Advance-tax receipts exceeded Rs 5.22 lakh crore, comprising increased corporate advance tax and non-corporate advance tax payments.
September 18, 2026
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Upper-layer NBFC listing compliance sharpens corporate governance conflict over public accountability, shareholder liquidity, and preservation of private ownership.
Tata Sons' status as an upper-layer non-banking financial company has brought its proposed public listing into focus after the Reserve Bank of India rejected its application to voluntarily surrender core investment company registration. Tata Sons is required to take steps to comply with the enhanced regulatory framework applicable to upper-layer NBFCs, which includes stock-market listing. Classified in 2022, Tata Sons did not meet the original listing deadline and had pursued deregistration after repaying debt.
September 18, 2026
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Upper-layer NBFC compliance places Tata Sons on a listing-oriented path emphasising transparency, governance, shareholder visibility, and philanthropic continuity.
Reserve Bank of India rejection of Tata Sons' application to surrender its core investment company registration requires compliance with the upper-layer non-banking financial company regulatory framework. The resulting regulatory path is associated with public listing. Shapoor Mistry supports listing as a means to enhance transparency, shareholder visibility, and corporate governance accountability, while potentially clarifying the holding company's value and supporting a durable flow of value towards charitable activities without compromising Tata's philanthropic mission.
September 18, 2026
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Duty-free market access will cover all covered exports upon entry into force under the bilateral free trade agreement.
Upon entry into force, the India-New Zealand Free Trade Agreement grants duty-free access in New Zealand for 100 per cent of Indian exports, including textiles and apparel, leather and footwear, engineering goods, pharmaceuticals, agriculture, and processed food products. It also provides enhanced preferential access to the Indian market for specified New Zealand exports. The Agreement further covers services, investment, professional, student and youth mobility, and cooperation in agricultural productivity, pharmaceuticals and medical devices, traditional medicine and AYUSH, technology, and trade facilitation.
September 18, 2026
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Competition clearance for additional shareholding acquisition facilitates increased investment in Azure Power's renewable energy business by OMERS Infrastructure.
Competition approval has been granted for a proposed combination involving OMERS Infrastructure Asia Holdings Pte. Ltd.'s acquisition of certain additional shareholding in Azure Power Global Limited from CDPQ Infrastructures Asia Pte. Ltd. Azure Power Global Limited is the parent entity of the Azure group, which establishes and operates renewable energy plants and sells solar power in India.
September 18, 2026
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Competition approval for interconnected acquisitions enables shared equity acquisition in Great White and sole control acquisition in ITVIS.
Competition-law approval covers an interconnected combination involving acquisition of 50% of Great White Global Private Limited's issued and paid-up equity share capital by EAAA Acquiring Entities and the Continuing Promoter group, through inter-connected steps using an acquisition special purpose vehicle that will merge into Great White. The combination also includes Mr. Mehul Shah's acquisition of sole control over ITVIS Innovations Private Limited.
September 18, 2026
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Competition approval for acquiring three Royals franchises covers cross-border professional cricket franchise ownership interests and related transaction arrangements.
Competition Commission of India granted competition approval for the proposed combination involving Westview Cricket Limited and Poonawalla Sports and Fitness Private Limited acquiring the Rajasthan Royals, Paarl Royals and Barbados Royals professional cricket franchises. The franchises operate respectively in India, South Africa and Barbados, with Rajasthan Royals participating in the Indian Premier League T20 cricket tournament organised by the Board of Control for Cricket in India.
September 17, 2026
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Sanctions bill permits punitive tariffs on oil and gas trading partners, raising energy-market and bilateral relationship concerns.
United States sanctions bill concerning Russia would authorize the President to impose sanctions on Russia and punitive tariffs of up to 100 per cent on nations importing Russian crude oil. The tariff mechanism may affect oil and gas trading partners, bilateral relations and global energy markets, with concern expressed over its implications for energy trade.
September 17, 2026
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Secondary sanctions on Russian energy trade could expose major crude importers to punitive tariffs and economic pressure.
Congressional legislation targeting Russia and Iran would authorise sanctions against Russia's leadership, energy sector, and vessels facilitating evasion of oil-delivery restrictions. It would also permit punitive tariffs of up to 100 per cent on leading trading partners continuing to import Russian oil and gas. India has identified possible effects on bilateral economic relations and the international energy market, while maintaining that diversified sourcing is necessary for energy security and that its trade and economic interests will be protected.
September 17, 2026
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Trust-nominated director consent shapes the contested chairmanship reappointment as regulatory classification renews pressure to consider a stock-market listing.
Validity of the reappointment is therefore contested under the company's internal governance framework despite the majority board vote, and the appointment is expected to be considered for ratification at the annual general meeting. The dispute also concerns the distinction between shareholder influence and directors' decision-making duties. A Trust sought to direct its nominee director to oppose a listing, but the director declined on the basis of independent director duties.
September 17, 2026
Show AI Summary
Selective capital reduction offers a proposed shareholder-liquidity route while preserving private-company status, subject to valuation and approval scrutiny.
Tata Trusts has placed before the Tata Sons board a framework for the Shapoorji Pallonji Group to monetise part of its Tata Sons shareholding without requiring a public listing. The transaction would be valued under Rule 11UA principles, completed in two tranches over 18 months, and require Tata Sons to commence a selective capital reduction process before the National Company Law Tribunal. Completion remains contingent on financing capacity, regulatory and tribunal approvals, and scrutiny of valuation, shareholder treatment, and the legal validity of the capital-reduction structure.
September 17, 2026
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Board chair reappointment validity turns on mandatory nominee-director approval, amid separate listing-compliance and succession disputes.
Tata Sons' board reappointed its executive chairman by majority vote, but Tata Trusts contend that the resolution is void under the Articles of Association because both Trust-nominated directors must approve a chairmanship resolution. The dispute also concerns the effect of the chairman's earlier decision to step aside, an ongoing successor-selection process, and uncertainty over a nominee director's status following a failed general meeting. Separately, the rejection of Tata Sons' deregistration request has revived questions over compliance with the listing requirement applicable to an upper-layer non-banking financial company.
September 17, 2026
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Deep-sea fishing access supports export-oriented harvesting of high-value species, with foreign-port high-seas landings recognised as exports.
Deep-sea fishing policy promotes expansion of fishing operations within India's Exclusive Economic Zone (EEZ) and on the high seas to increase fisherfolk income through exports of high-value species. High-seas catch classification has been altered so that fish caught on the high seas and offloaded at a foreign port are treated as exports rather than imports.
September 17, 2026
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Merchant discount rate on eligible UPI payments places charges on merchants while preserving consumer protections and small merchant exemptions.
Merchant Discount Rate at 0.4 per cent will apply from October 15 to person-to-merchant UPI payments above Rs 2,000, payable by merchants and subject to a cap for high-value transactions. Individual transfers and most everyday merchant payments remain free, while eligible small QR-code merchants are exempt. Essential-service payments and capital-market transactions receive separate fee treatment, and a portion of MDR collections will support small-merchant UPI adoption.

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Customs & Trade

China's leader Xi Jinping holds talks in Cambodia to wrap up his 3-nation Southeast Asia tour

April 17, 2025

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Phnom penh (Cambodia), Apr 17 (AP) Chinese President Xi Jinping arrived in Cambodia on Thursday for a two-day state visit that serves as an opportunity to further strengthen China's already robust relations with its closest ally in Southeast Asia.

The visit, Xi's first since 2016, concludes a three-nation tour that included stops in Vietnam and Malaysia. China has been increasing its influence in the region over the past decade, largely by exercising its substantial economic leverage.

Cambodian Prime Minister Hun Manet recently described Beijing as “an important and indispensable friend of Cambodia that has helped support the country's economic and social development.” Xi was welcomed at the airport in Cambodia's capital Phnom Penh by King Norodom Sihamoni, who later granted him a royal audience. Xi also met later with Prime Minister Hun Manet and Senate President Hun Sen, who is Hun Manet's father and predecessor as prime minister.

In a statement at the airport after his arrival on his presidential aircraft, an American-made Air China Boeing 747, Xi declared “Cambodia is a priority in China's neighborhood diplomacy." "China will unswervingly support Cambodia in upholding strategic autonomy and in pursuing a development path suited to its national conditions,” he said, according to a transcript distributed by the Chinese embassy.

Trade was likely a major topic of Xi's discussions in Cambodia, which faces among the highest tariff rates proposed by Washington. In addition to Trump's universal 10% tariff, the country faces the threat of a 49% tax on exports to the US once his 90-day pause expires.

Xi's tour was organised before Trump announced his global “reciprocal” tariffs on April 2.

In Vietnam and Malaysia, Xi emphasized strengthening ties, particularly in trade and investment, amid global economic uncertainties and the backdrop of trade tensions with the United States. He underscored the need to oppose unilateralism and protectionism and uphold the multilateral trading system.

China is presenting itself as a source of stability and certainty as Southeast Asia; where Trump's tariffs threaten the region's export-oriented economies whose largest markets are generally the United States.

“The timing of the visit is extraordinarily auspicious for China, falling just in the wake of the announcement of Trump's tariffs that have caused managed consternation in Cambodia and Vietnam,” while also causing “upset” in Malaysia, which faces lower rates, Astrid Norén-Nilsson, a senior lecturer in the Study of Contemporary South-East Asia at Sweden's Lund University, commented in an email interview.

“Xi Jinping can now carry out the tour equipped with the moral authority and goodwill of a singularly constant friend and reliable trading partner.” In addition to discussing bilateral ties and regional and international issues, Hun Manet said on the Telegram social and messaging app that he and Xi presided over the signing of 37 documents covering investment, trade, education, finance, information, youth work, agriculture, health, water resources, tourism, women's affairs and other subjects.

Xi's visit came on the 50th anniversary of the April 17, 1975 takeover of Cambodia by the communist Khmer Rouge, who imposed a reign of terror with Maoist-inspired policies that saw an estimated 1.7 million Cambodians die of starvation, overwork or executions.

Beijing was the main foreign backer of the Khmer Rouge and supported the group in carrying on a guerrilla war even after it was ousted from power in 1979 by an invasion from Vietnam, though such history is rarely discussed by either country.

Cambodia's rapid growth in recent decades has been fuelled largely by Beijing.

In Hun Manet's remarks earlier this month at the inauguration of a Chinese-funded road, he called China “a first-class partner country,” pointing to achievements like the inauguration of the Chinese-named Angkor Siem Reap Airport and a Phnom Penh ring road named after Xi as evidence of continued strong relations and gratitude, and noted China's continued ranking as the top investor in Cambodia in 2024.

China is Cambodia's largest trading partner, surpassing $15 billion in 2024 and representing nearly 30% of Cambodia's total trade volume, though greatly in Beijing's favor.

Beijing also helped fund an expansion of the Ream Naval Base on Cambodia's southern coast, raising worries it could become a strategic outpost for the Chinese navy in the Gulf of Thailand. Cambodia has repeatedly denied any agreement granting China special privileges or the establishment of a foreign military base.

Cambodia has stated that warships from all friendly countries are welcome to dock at its new pier, provided they comply with certain conditions. Japan announced on Tuesday that two of its minesweepers will visit the Ream base this weekend in the first foreign navy visit since the expansion project was completed. (AP) ZH ZH

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