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    HIGHLIGHTS
    Rupee recovers 20 paise to settle at 96.53 against US dollar
    Sri Lanka welcomes US tariff reduction
    DPIIT's One District One Product Initiative Promotes 1,244 Unique Products Across 773 Districts
    India's Services Exports Rise to USD 421.3 Billion in FY 2025-26, Led by Telecommunications, Computer and Information Services and Business Services
    India and Israel Conclude Second Round of Negotiations for Proposed Free Trade Agreement
    Glomo Secures Visa's Principal Membership, Becomes India's First Non-Bank Acquirer to Join the Network
    India's forex reserves jump USD 1.08 billion to USD 676.237 billion
    Boult Earbuds in India 2026: Five Reasons They are the Smartest Budget Pick
    Stock markets extend losses for 5th straight day on US trade tariffs, West Asia tensions
    China slaps export controls on 14 EU entities in retaliation for Russia-related sanctions
    Rupee recovers 18 paise to settle at 96.55 against US dollar
    Infosys: AI Revenues at 8.2% in Q1; Resilient Operating Margin of 21.1%
    Shares skid in Asia in sell-off of AI-related shares as Brent oil trades near $100 per barrel
    30-member Indian commerce chamber delegation to visit Sri Lanka
    Rupee rises 22 paise to 96.51 against US dollar in early trade
    ED conducts raids in UP, Delhi and Punjab in Rs 450-crore bank loan 'fraud'
    US slaps 10 per cent tariff on goods imported from India over forced labour concerns
    NICDC Organises Cross-Learning Site Visit to AURIC Smart City to Strengthen Industrial Corridor Development
    India Concludes Eighth Trade Policy Review at WTO in Geneva
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    July 24, 2026
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    Examination integrity safeguards prompt monitoring, enforcement action and proposed stricter penalties for paper leaks and institutional failures.
    Examination integrity measures include reported termination of agency officials, contemplated legal and criminal action, proposed stricter punishment for paper leaks, and Supreme Court monitoring of preventive steps. The Supreme Court also prohibited unauthorised posting or uploading of audio-video court proceedings on social media and digital platforms without prior administrative permission. The updates further address taxpayer facilitation alongside firm action against evasion, trade measures connected with forced-labour concerns, and potential legal action concerning university communications to students.
    July 24, 2026
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    Foreign exchange market stabilisation supported rupee recovery as investor outflows, geopolitical tensions and elevated crude prices maintained currency pressure.
    Foreign exchange market conditions saw the rupee recover against the US dollar amid reports of Reserve Bank of India intervention and dollar sales by public-sector banks to limit further depreciation. Foreign institutional investor outflows, weak domestic equity sentiment, geopolitical tensions, and elevated crude oil prices continued to pressure the currency. A decline in crude prices, diplomatic engagement, and central-bank intervention were identified as potential stabilising factors.
    July 24, 2026
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    Forced-labour import prohibition enabled lower tariff treatment for Sri Lankan goods, supporting export competitiveness and responsible trade practices.
    Tariff treatment for Sri Lankan goods entering the United States was reduced after Sri Lanka prohibited imports of goods produced using forced labour. The prohibition placed Sri Lanka within the lower tariff category under the stated US framework. The reduction is described as supporting exporter competitiveness while reflecting commitments to fair trade, responsible business practices, internationally accepted labour standards, and sustainable economic reforms.
    July 24, 2026
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    One District One Product strengthens district product branding, market access, food-processing support and export-oriented value chains.
    The One District One Product initiative supports district-identified products through branding, market access, exhibitions, capacity building and Government e-Marketplace onboarding. States and Union Territories select products and may leverage Central and State schemes, as no district-specific allocation is made. PM Ekta Malls and the PMFME Scheme support sales, food-processing projects, common infrastructure, branding, packaging, quality standardisation and food-safety compliance. Districts as Export Hubs promotes export-potential products through export committees, action plans and value-chain coordination.
    July 24, 2026
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    Services export promotion expands market access, professional mobility, qualification recognition and trade outreach for Indian service suppliers.
    Services export promotion combines targeted market and sector strategies, removal of domestic impediments, trade agreements and export-promotion activity. Free Trade Agreements secure market access and national treatment for Indian service suppliers, support transparent and time-bound authorisation processes, and facilitate temporary mobility of skilled professionals. Mutual Recognition Agreement provisions seek recognition of qualifications and licensing requirements. The framework also addresses social-security coordination, student mobility, traditional medicine and double-taxation commitments for IT services. The Services Export Promotion Council supports market development, trade facilitation, capacity building and international outreach.
    July 24, 2026
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    Free trade agreement negotiations advance as India and Israel address market access, origin rules, customs facilitation and economic cooperation.
    India and Israel completed the second round of negotiations for a proposed Free Trade Agreement under the Terms of Reference signed in November 2025. Technical discussions covered trade in goods and services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, intellectual property rights, customs procedures, trade facilitation and economic cooperation. Both sides sought to narrow gaps, identify areas of convergence and work towards early conclusion of a balanced, comprehensive and mutually beneficial agreement.
    July 24, 2026
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    Direct card acquiring enables cross-border merchants to manage payment processing, settlement, risk monitoring and disputes without intermediary acquirers.
    Visa Principal Membership enables Glomo to operate as a direct non-bank acquirer for Visa-powered merchant card payments through GIFT IFSC. It allows direct management of merchant acquisition, processing, settlement, transaction approval optimisation, fraud and risk monitoring, and dispute and chargeback handling without intermediary acquirers. The arrangement is intended to accelerate onboarding and processing, enhance control over risk policies and merchant experience, and support cross-border acceptance and settlement, including management of multiple currencies, banking systems and regulatory requirements.
    July 24, 2026
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    Foreign exchange reserves rose as foreign currency assets increased, while gold reserves fell and IMF reserve position declined.
    Foreign exchange reserves increased during the reported week, principally because foreign currency assets rose, including valuation effects from movements in non-US currencies held in reserve. Gold reserves declined, Special Drawing Rights increased, and the reserve position with the International Monetary Fund decreased. Earlier reserve declines were associated with rupee pressure and foreign-exchange market intervention through dollar sales.
    July 24, 2026
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    Consumer electronics financing enables instalment purchases of affordable earbuds through in-store loan and reusable credit facilities, subject to approval.
    Affordable Boult earbuds are described as offering extended battery life, fast charging, dynamic drivers, low-latency gaming modes, Environmental Noise Cancellation, Bluetooth connectivity, and selected active noise-cancellation features. Models are compared by audio, calling, gaming, and charging specifications. Purchases through partner stores may be financed through an Easy EMI Loan or Insta EMI Card, subject to in-store application and approval, with instalment tenures and possible zero-down-payment offers on selected models.
    July 24, 2026
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    Trade-tariff concerns and oil-price volatility deepen risk aversion, extending equity market losses amid geopolitical tensions and foreign outflows.
    Indian equity markets extended their losing streak amid caution over United States trade-tariff concerns, West Asia tensions, oil-price volatility, foreign equity outflows and selling in selected blue-chip shares. Higher oil prices were identified as a potential pressure on macroeconomic indicators and growth prospects. New import tariffs were described as a constraint for export-oriented economies, particularly technology-heavy markets, while investors may diversify exposure across emerging-market opportunities.
    July 24, 2026
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    Dual-use export controls restrict supplies to European entities amid reciprocal Russia-related sanctions and non-proliferation concerns.
    China imposed dual-use export controls on 14 European entities in response to European Union sanctions affecting Chinese and Hong Kong enterprises. Chinese companies cannot export dual-use items to the listed organisations, and foreign companies are barred from supplying them with dual-use items made in China. China stated that the restrictions protect national security and interests and support international non-proliferation obligations in the context of Russia-related sanctions.
    July 24, 2026
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    Foreign-exchange market intervention supported rupee stabilisation amid investor outflows, weak equities, geopolitical tensions and elevated crude oil prices.
    Foreign-exchange market conditions supported a rupee recovery against the US dollar following reported Reserve Bank of India intervention and dollar sales by public-sector banks. Pressure on the currency persisted due to foreign institutional investor outflows, weak domestic equity sentiment, geopolitical tensions and elevated crude oil prices. Lower crude prices, a weaker dollar index and further central bank intervention were identified as potential stabilising influences.
    July 24, 2026
    Show AI Summary
    Forward-looking statements receive safe-harbor qualification amid reported IFRS performance, AI-led transformation initiatives, and revised revenue-growth guidance.
    Infosys reported first-quarter IFRS financial performance, including revenue growth, operating margin, earnings per share, free cash flow, and large-deal contract value, while revising revenue-growth guidance and retaining operating-margin guidance. The release describes AI-led enterprise transformation, cloud modernization, digital banking, financial-crime operations, and technology services engagements. Forward-looking statements are subject to safe-harbor protection and may differ materially because of business, talent, economic, technological, regulatory, cybersecurity, litigation, investigation, and tariff-related risks.
    July 24, 2026
    Show AI Summary
    Forced-labour import enforcement drives new tariffs as expiring stopgap levies and market uncertainty heighten trade-compliance concerns.
    Import tariffs were announced on goods from trading partners said not to have fully enforced prohibitions on products made with forced labour. The measures apply to imports from 60 trading partners representing most United States imports and were introduced as existing stopgap levies approached expiry, following a Supreme Court setback affecting other tariff measures. The announcement occurred amid market uncertainty linked to energy-route disruptions, rising crude-oil prices, inflation concerns, and scrutiny of artificial-intelligence investment spending.
    July 24, 2026
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    Cross-border commercial engagement supports Indian and Sri Lankan businesses in identifying partnerships and strengthening trade and investment relationships.
    Cross-border trade and investment engagement between India and Sri Lanka is proposed through a commerce chamber delegation representing diverse Indian industry sectors. A networking session is intended to enable direct interactions between businesses, identify partnership opportunities, discuss commercial collaboration and develop new business connections. The engagement seeks to strengthen commercial relationships across participating industries within the established bilateral trade and investment relationship.
    July 24, 2026
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    Foreign exchange market intervention limited rupee depreciation amid elevated oil prices, importer dollar demand, capital outflows and equity market weakness.
    Foreign exchange market conditions reflected an early appreciation of the rupee against the US dollar, with likely central bank intervention through state-owned banks reported as limiting sharper depreciation. Softer dollar conditions provided limited support, while elevated crude oil prices increased dollar demand from oil marketing companies and sustained importer buying pressure. Foreign institutional investor equity outflows, domestic equity weakness, and West Asia tensions affecting oil prices also influenced the rupee.
    July 24, 2026
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    Money-laundering investigation examines alleged bank-loan fund diversion through shell entities, accommodation entries, fake invoices and circular transactions.
    A money-laundering investigation under the Prevention of Money Laundering Act concerns alleged bank-loan fraud involving Santosh Overseas Ltd., its promoters and linked entities. Searches were conducted at premises in Uttar Pradesh, Delhi and Punjab. The investigation, arising from a Central Bureau of Investigation case, alleges diversion and layering of loan funds through shell entities, accommodation-entry operators and related companies by means of purportedly fake invoices and circular financial transactions.
    July 24, 2026
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    Forced-labour import prohibitions shape tariff treatment as India's policy amendment secures a lower rate for imported goods.
    Forced-labour import prohibitions are linked to tariff treatment under Section 301 of the Trade Act of 1974. Goods imported from India receive a lower tariff rate after India amended its foreign trade policy to prohibit imports of goods produced using forced labour. The framework excludes certain raw materials, goods causing economy-wide disruption, and products unavailable in sufficient domestic quantities. India has contested the underlying investigations and proposes that the issues be addressed through a bilateral trade agreement.
    July 24, 2026
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    Integrated industrial city development promotes cross-learning on digital governance, investor facilitation, infrastructure planning and plug-and-play industrial parks.
    Industrial corridor development is being supported through cross-learning on AURIC Smart City's integrated planning, infrastructure and governance practices. The programme addresses master planning, utility systems, digital monitoring, land utilisation, investor facilitation, project implementation and coordination among implementing agencies. It also considers application of these practices to the Bharat Audyogik Vikas Yojana for plug-and-play industrial parks, with emphasis on integrated utilities, digital land management, investor-friendly approvals, sustainable infrastructure and multimodal connectivity.
    July 24, 2026
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    WTO trade policy review highlights India's commitment to transparent trade rules, development policy space and multilateral engagement.
    India reaffirmed an open, transparent, predictable and WTO-consistent trade and investment regime through tariff reform, customs simplification and free trade agreement initiatives. Its trade policy was presented as balancing developmental needs with WTO principles: agricultural tariffs protect vulnerable farmers, while industrial tariffs support supply-chain resilience and domestic manufacturing. India also committed to transparent, consultative and rules-compliant sanitary measures, technical regulations and trade remedies, with investigations based on objective evidence, due process and judicial oversight, including continued application of the Lesser Duty Rule in anti-dumping matters.

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      Operation Sindoor not over yet, it showed world indigenous weapons' power: PM Modi

      May 30, 2025

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      Kanpur (UP), May 30 (PTI) India demonstrated the power of its indigenous weapons during Operation Sindoor which made "Pakistan plead to stop the war", Prime Minister Narendra Modi said on Friday and warned the action was "not over yet".

      During his visit here to inaugurate and lay the foundation stones for 15 development projects worth over Rs 47,600 crore, the PM addressed a rally and said he was to attend the programme on April 24 but had to cancel it due to the Pahalgam terror attack two days prior.

      As many as 26 people, including Kanpur businessman Shubham Dwivedi, died in the dastardly terror attack at the verdant meadows of Baisaran in Jammu and Kashmir's Pahalgam.

      In retaliatory action, India struck terror infrastructure in Pakistan and Pakistan-occupied Kashmir two weeks later, which triggered a four-day military standoff with the neighbouring country.

      The prime minister began his speech by referring to the Pahalgam massacre and said, "Kanpur's son Shubham Dwivedi also became a victim of that barbarity." "We all can feel the pain, suffering and anger of our daughter Aishanya (Shubham's widow). The world witnessed the same anger of our sisters and daughters in the form of Operation Sindoor." "Operation Sindoor is not over yet. It showed the world power of indigenous weapons and Make in India. We destroyed terrorist hideouts in Pakistan by going hundreds of miles inside. Indian weapons, Brahmos missiles entered enemy territory and wreaked havoc," Modi told the rally.

      He said the heroics of the Indian armed forces forced the Pakistani Army to "plead to stop the war" and asserted that India would no longer be intimidated by the threat of the nuclear bomb nor would it make a decision on that basis.

      Saluting the bravery of the armed forces' personnel, the prime minister reiterated India's uncompromising stance against terrorism.

      "The enemy, who was pleading during Operation Sindoor, should not be under any illusion, Operation Sindoor has not ended yet," Modi said and added that Pakistan's ploy of state and non-state actors was not going to work anymore.

      With his remark drawing cheers from the crowd, the prime minister sought to strike a chord of local sentiments by saying, "If I say in simple Kanpuriya language, the enemy will be struck down ('haunk diya jaayegaa') wherever it is." Laying out India's three principles in the fight against terror, Modi said, "First, India will give a befitting reply to every terrorist attack with the timing, manner, and the condition of the reply to be decided by our armies themselves." "Second, India will no longer be scared of the threat of atom bombs nor would it make a decision on that basis. And third, India will see the masters of terror and the government patronising terror in the same light." Highlighting India's growing defence capabilities, the prime minister said, "Our Indian weapons, the BrahMos missile entered the enemy's territory and wreaked havoc. They blasted wherever they targeted. We have got this power from the resolve of Aatmanirbhar Bharat." Turning to Kanpur's development, he emphasised the city was playing a pivotal role in India's defence manufacturing growth.

      "There is an old ordnance factory in Kanpur. We have converted seven such ordnance factories into big modern companies. The Kanpur node of the defence corridor is a big centre of Aatmanirbhar Bharat in the defence sector." "Big companies in the defence sector are coming here. The production of AK 203 rifles has begun in Amethi. The new address of BrahMos missile that did not let the enemies sleep during Operation Sindoor is Uttar Pradesh," Modi said.

      The PM promised employment opportunities, large-scale investments, and renewed industrial growth in Kanpur and said, "Taking Uttar Pradesh and Kanpur to newer heights of development is the first priority of this double-engine government." "The old glory of Kanpur will return again," he declared.

      Slamming the previous dispensations in the state for "ignoring" industrial development, Modi said, "Industries kept migrating from Kanpur. The dynasty-oriented ('Parvarvadi') government kept its eyes closed. The result was that not only Kanpur but the entire Uttar Pradesh lagged behind." About Metro expansion in the city, he said, "Kanpur Metro is the proof of the fact that if there is a government with right intentions, strong willpower and good intentions, then the development of the state is possible." He referenced improvements in road and rail infrastructure, the modernisation of the Kanpur Central Station and the construction of an elevated rail corridor to ease traffic and pollution to bolster his point.

      "The Kanpur Central railway station will get a modern and world-class look like an airport very shortly," the prime minister said while informing the rally that more than 150 railway stations in Uttar Pradesh were being upgraded under the Amrit Bharat scheme.

      Underlining Uttar Pradesh's rise, Modi noted that the state now has the highest number of international airports in the country. "We are making Uttar Pradesh a state of industrial possibilities." He said self-sufficiency in energy and strong infrastructure are key to Uttar Pradesh's industrial growth. He inaugurated several power projects, including the 660 MW Panki, 660 MW Neyveli, 1320 MW Jawaharpur, 660 MW Obra-C, and 660 MW Khurja plants, terming them a major step toward meeting the state's power needs.

      Mentioning welfare measures such as the distribution of Ayushman Vay Vandana Cards for free medical care for the elderly, Modi said these efforts reflect the government's commitment to Kanpur and the state's development.

      About infrastructure, he said UP has moved beyond pothole-filled roads to a state known for its expressways and announced the Kanpur-Lucknow Expressway will reduce travel time to 40-45 minutes with new links to the Purvanchal and Ganga Expressways.

      He also announced Rs 1,000 crore for an elevated rail corridor to ease congestion and save time.

      About the MSME sector, he said earlier definitions discouraged growth, but revised norms and new budget provisions now support expansion. He noted past credit challenges are being addressed through schemes like Mudra Yojana and the Credit Guarantee Scheme.

      MSME loan guarantees have been raised to Rs 20 crore, and credit cards with limits up to Rs 5 lakh are being provided, Modi said.

      "In this budget, we have made income up to Rs 12 lakh completely tax-free. This has given new confidence to crores of middle-class families," he said.

      Concluding his speech, the prime minister said, "We will leave no stone unturned in working hard to take the country and Uttar Pradesh to new heights." Earlier in the day, the prime minister met the family members of Shubham Dwivedi at the Chakeri airport here. PTI CDN NAV MAN NSD NSD

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