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    India’s Foreign Exchange Markets: Getting ready for the next Decade [Keynote Address delivered by Deputy Governor Shri Rohit Jain on the Annual Day ...
    Govt rejects ethanol link to sugar price surge, says duty free imports allowed to curb prices
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August 21, 2026
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Foreign exchange market modernisation prioritises delegated decisions, customer transparency, digital workflows, local-currency settlement and accountable risk management.
Foreign exchange market modernisation advances a facilitative, principles-based framework based on delegated decision-making by Authorised Dealers, risk-based reporting, and customer-centric service standards. Authorised Dealers must apply clear internal policies, avoid unnecessary documentation, disclose charges, timelines and grievance mechanisms, and ensure consistent treatment of comparable transactions. Local-currency settlement requires viable trade corridors, competitive hedging, correspondent relationships and robust AML/CFT controls. Digital workflows, electronic trading and reporting infrastructure should improve transparency and resilience, while automated tools remain subject to explainability, review and data-protection safeguards.
August 21, 2026
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Sugar price containment measures restrict stockholding, permit duty-free imports, and strengthen inventory verification to deter hoarding.
Sugar price containment measures include stock limits for dealers, consumption-based inventory restrictions for bulk consumers, duty-free raw sugar imports, and physical verification of mill stocks to prevent hoarding and artificial scarcity. Price increases are attributed to lower domestic output, festive demand, crop damage, tighter global supplies, and speculation rather than sugar diversion for ethanol. Earlier crushing is advised to improve seasonal availability, while the ethanol programme supports management of sugar surpluses, mill liquidity, and timely sugarcane payments.
August 21, 2026
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Cross-border insolvency enforcement constrains asset recovery as Evergrande liquidation, founder asset confiscation, and audit-related claims continue.
Evergrande's insolvency process involves liquidation proceedings for its mainland property-development unit and its Hong Kong-listed holding company. Cross-border recovery is constrained by separate Hong Kong and mainland China legal systems, particularly because most operational assets are located in mainland China. Liquidators are pursuing asset-tracing and recovery measures against the founder and connected persons, as well as claims concerning pre-collapse audits. Investigations identified revenue overstatement through manipulated financial data. Creditor recoveries are expected to be limited due to substantial liabilities and constraints on asset realisation.
August 21, 2026
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Foreign exchange reserves rose through higher currency assets and gold holdings amid measures to attract external forex inflows.
India's foreign exchange reserves increased during the reporting week, led by higher foreign currency assets and gold reserves. Foreign currency assets include the dollar-value effects of movements in non-US currencies held as reserves. Special drawing rights declined marginally, while the reserve position with the International Monetary Fund increased marginally. Concessional swap arrangements formed part of measures to attract foreign-exchange inflows, while earlier reserve movements were linked to rupee pressure and dollar-sale intervention in the foreign-exchange market.
August 21, 2026
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Incremental tariff recovery aligns airport user charges with completed infrastructure, preventing passengers from funding non-operational capital projects prematurely.
User development fees and airport tariffs for Bengaluru International Airport have been revised for the April 2026 to March 2031 control period. The incremental Average Revenue Requirement framework excludes costs of identified high-value capital projects from tariffs until the relevant assets are completed, commissioned and available for users. Incremental tariff recovery may begin only upon operational availability, aligning charges with infrastructure use, reducing premature recovery risk for passengers and airlines, and encouraging timely completion of major capital works.
August 21, 2026
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Customer experience analytics enables banks to convert real-time feedback into operational improvements across high-value customer journeys.
Customer experience analytics is used in banking to transform customer data and real-time feedback into operational improvements across key customer journeys. Operational teams retain responsibility for strategy and execution, supported by in-house analytics and technology platforms for multi-channel journey mapping, journey analytics and prioritisation of high-value customer segments. AI-driven customer experience management tools capture customer signals, analyse journey performance and operationalise actionable insights across teams.
August 21, 2026
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Predicate-offence dependency limits retrospective addition of old FIRs to preserve money-laundering proceedings after the original scheduled offence is closed.
Predicate-offence dependency under the Prevention of Money Laundering Act requires an ECIR to rest on a subsisting scheduled offence. Closure of the FIR forming its basis through an accepted cancellation report prevents continuation of money-laundering proceedings unless that closure is overturned. A previously registered FIR cannot be belatedly added merely to preserve an existing ECIR and coercive powers. Where statutory requirements are met, an independently registered ECIR may be required. Expansion of an ECIR cannot rest solely on tenuous factual links between successive disputes.
August 21, 2026
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Indian rupee export invoicing rules now permit overseas contracts and invoices in rupees or foreign currency for eligible destinations.
Foreign Trade Policy provisions were amended to facilitate invoicing of overseas exports and receipt of export payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency, replacing the earlier general requirement that export earnings be received in a freely convertible currency. The applicable requirements vary according to the destination country.
August 21, 2026
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Dealer inventory financing supports working-capital flexibility, vehicle inventory management and electric-vehicle network expansion for authorised dealers.
Dealer inventory financing is to be provided by Federal Bank to VinFast India's authorised dealer network under a memorandum of understanding. The tailored financing is intended to improve dealers' working-capital flexibility, support maintenance of vehicle inventory, strengthen operational capability, and enable timely response to demand as the electric-vehicle distribution network expands.
August 21, 2026
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Sugar supply pressures drive festive-season price increases as imports, stockholding limits and ethanol diversion shape market conditions.
Sugar prices in Bengal have risen sharply ahead of the festive season, with higher prices also affecting jaggery and other sugar-derived products. Supply constraints, mill stock releases, lower production in Brazil, ethanol diversion and possible hoarding have been identified as contributing factors. Raw-sugar imports have been permitted to augment availability, while stockholding restrictions limit inventories of specified bulk consumers. Lower projected closing stocks and possible future production effects from El Nino may sustain pressure on sugar availability and increase costs for sweetmeat producers.
August 21, 2026
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
The rupee strengthened marginally against the US dollar as the dollar index softened, but elevated crude oil prices, geopolitical uncertainty, reduced foreign participation and net foreign equity outflows constrained currency sentiment. RBI measures to attract foreign currency inflows, including FCNR(B) deposits, were expected to generate substantial inflows, although these had not produced meaningful rupee strength. Energy-market disruption and restrictions on fuel exports through the Strait of Hormuz added to external-sector pressures.
August 21, 2026
Show AI Summary
Sovereign security production priorities emphasise compliance, modernisation, employee innovation and operational excellence across currency, passport and coinage manufacturing.
SPMCIL performs a sovereign production mandate covering secure currency, coinage, passports and other products of national importance through its mints, currency presses, security presses and paper mill. Modernisation, compliance, transparency, efficiency, productivity, quality and corporate governance support the fulfilment of sovereign requirements. Individual employees and units were recognised for performance in productivity, environment and safety, energy conservation, knowledge and development, vigilance, and official-language implementation.
August 20, 2026
Show AI Summary
Customs enforcement against suspected gold smuggling leads to baggage seizure and apprehension of the alleged intended receiver.
Customs officers intercepted an arriving passenger at the green channel on intelligence inputs and examined baggage after X-ray screening indicated suspicious images. The examination recovered two oval capsules containing gold paste concealed in the baggage. Interrogation indicated that an alleged receiver was waiting outside the airport to collect the suspected smuggled gold. Customs officers apprehended the alleged receiver, and further investigation remains underway.
August 20, 2026
Show AI Summary
Provincial alcohol sales restrictions remain subject to economic impact assessment under proposed bilateral trade agreement negotiations.
Provincial control over alcohol distribution remains distinct from federal trade-making authority. Quebec retains authority over whether United States alcohol is offered through its government-controlled liquor distribution system, despite lacking a veto over a bilateral trade agreement. Federal requests to restore United States alcohol to retail shelves cannot compel provincial action. Proposed trade commitments also concern restrictions on United States agricultural products and Canada's dairy import regime, which applies lower tariffs within designated import volumes and higher duties beyond those volumes.
August 20, 2026
Show AI Summary
Electoral-roll verification found no reported cases of specified foreign nationals receiving identity-linked benefits or voter registration.
Electoral-roll special intensive revision recorded no reported cases of Pakistani, Bangladeshi or Iranian nationals obtaining Aadhaar cards, ration cards, other government benefits, or voter registration. Illegal immigrants are identified through police monitoring, intelligence measures, specialised operations and a Special Task Force. Overstayers are recorded through the District Police Module and Foreigners Identification Portal and produced before Foreigners Regional Registration Officer authorities. Persons found to be residing illegally are reported to the concerned central divisions, proceeded against through registered cases, retained pending case disposal and exit permits, and subjected to deportation steps.
August 20, 2026
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
Raw sugar imports are permitted duty-free under a tariff rate quota until 31 October 2026, with online allocation to eligible millers and refiners having functional refining capacity. Applicants must provide a refining-capacity declaration and supporting Consent to Operate; preference applies to importers undertaking timely completion of imports, while non-utilisation or failure to surrender allocations constitutes non-compliance. Bulk sugar consumers meeting the prescribed consumption threshold are subject to a stock cap of 15 days' consumption from 1 September to 30 November 2026.
August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.

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Customs & Trade

Black hair industry imports products from China. Here's what tariffs mean for braids and wigs

May 31, 2025

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Atlanta, May 31 (AP) Before the oppressive summer heat descends on Atlanta, therapist Brittanee Sims usually gets her thick, curly hair braided at a salon to preserve her healthy mane.

But it's more expensive this year. So she'll only pay for her teenage daughter and son to get their summer hairdos. Not having braided hair “creates more of a hassle for everything,” said Sims, who counts herself among the tens of millions of women that regularly spend on the Black hair care industry.

Now, she said, she has to “go home and figure out what I'm gonna do to my hair in the morning, after I went to the gym and it's messed up with sweating and frizz.” President Donald Trump's tariffs are driving up prices for products many Black women consider essential, squeezing shoppers and stylists even more as they grapple with inflation and higher rents.

Much of the synthetic braiding hair, human hair for extensions, wigs and weaves, styling tools, braiding gel and other products is imported from or has packaging from China, which was subject to a combined 145 per cent tariff in April.

Many Black women have hair types and workplace-favoured styles that require careful attention, and they can spend hundreds of dollars at salons each month on extensions, weaves, wigs and braids.

The Associated Press spoke with several Black hair industry experts, beauty supply store owners, and wholesale companies, as well as nearly two dozen Black stylists and braiders, some of whom may have to raise prices even as business has slowed.

On Thursday, a federal appeals court reinstated most of Trump's tariffs on imported goods after they were blocked the day before by a three-judge panel of the US Court of International Trade.

Earlier this month, the United States agreed to drop the 145 per cent tax on goods imported from China to 30 per cent while the two economic superpowers negotiate new trade agreements. Imports from most other countries face baseline tariff rates at 10 per cent.

Regardless, the next few months “are already shot” for many items, said Marty Parker, a University of Georgia business professor and supply chain expert who worked in the hair care industry. The costs companies have been facing at ports are making their way down to consumers, supply shortages are getting worse, and it's unclear what will happen if negotiations break down.

“Prices go up very fast and come down very slow,” Parker said.

Costs go up for Atlanta stylists Some stylists said they're seeing fewer clients because prices are going up for virtually everything.

Atlanta stylists are paying more for hair from China. Atlanta stylist Yana Ellis, who also sells products like wigs, paid an extra USD 245 in shipping for 52 bundles of hair in March compared to 40 bundles in December.

AaNiyah Butler said her shipping costs for human hair more than doubled from February to May. And Dajiah Blackshear found in early May that a beauty supply store raised the cost of the kind of hair she's used for years by USD 100.

The store owner said he may have to stop selling that brand of hair because it went up so much. Similarly, some wholesale hair stores have seen higher costs or are expecting them in the coming weeks. Even the typical USD 6 to USD 10 cost of a pack of synthetic hair has crept up.

Blackshear doesn't want clients to bring hair because she likes to vet the quality. But if expenses continue to mount, she may have to raise her prices.

“It's going to be extremely difficult,” she said, especially for clients who are "having to make those hard decisions, between do I get my hair done or do I pay my bills?'” Janice Lowe, who runs 5 Starr Salon in a lower-income neighborhood southeast of Atlanta, has started asking clients to bring hair and is unable to purchase certain products.

“I'm falling behind on my obligations,” she said.

The industry braces for uncertainty Consultants vary on how much prices will rise, when they'll go up and for how long — and the full harm to stylists and consumers could be months away.

The global Black hair care industry was worth about USD 3.2 billion in 2023, according to market.us, and Black women spend six times more on hair care than other ethnicities.

Stylists often purchase some harder-to-get professional products from door-to-door distributors that buy from wholesale companies or larger distributors that purchase directly from other countries.

Lowe has seen some of her distributors vanish altogether, making it harder to get professional lines such as Black-owned leading professional hair care brand Design Essentials, manufactured in Atlanta at McBride Research Laboratories.

Design Essentials is trying to delay big price increases until 2026 or 2027, and may turn to layoffs or pause promotions to save money, said president Cornell McBride Jr. Most packaging plastics come from China, but ingredients can come from many places.

“Nobody wants to put it to the consumer but the person who pays is the consumer in the end,” McBride Jr. said.

Hawa Keita and her mother usually charge customers between USD 160 and USD 250 for braiding at their shop, Eve's African Hair Braiding in College Park southwest of Atlanta. Keita is determined to take losses because their customers “can't afford the Atlanta prices,” Keita said.

The cost of a box of 100 packs of braiding hair from China went up for the first time in two years, from USD 250 to USD 300, Keita said. They order weekly, often multiple boxes. Some companies say they'll soon raise prices or run out of stock.

Making customers happy is ultimately what will keep the business afloat, Keita said. She smiled as she recounted braiding a young woman's hair for her birthday with a style she suggested.

“When we finished, she gave me the biggest hug, and she was in here screaming and just yelling because she just really loved her hair,” Keita said.

Priced-out consumers face unfair beauty standards For many Black Americans, especially women, affording their hair care also means confronting unfavorable beauty standards. Georgia State University law professor Tanya Washington said recent discoveries about dangerous chemicals in synthetic hair and hair straightening products have sparked conversations among Black women looking for hairstyles that don't require as much imported products.

But embracing natural hairdos can be daunting for women like the soon-to-be lawyers and clerks Washington advises who face pressure to straighten their hair.

“That puts everyone who does not have organically, naturally derived straight hair at a disadvantage in these spaces,” she said. “I think that a definition of professionalism that favors one phenotype — European phenotype — over all others, is inappropriate." Longstanding income disparities between Black and white American women can also make higher hair care prices untenable. According to the US Census, as of 2023, the median household income in Atlanta is USD 131,319 for white households and USD 47,937 for Black households.

It's an inequality issue that professional hairstylists are aware of nationwide.

Stylist Mitzi Mitchell, owner of PIC ONE Beauty Services in Pennsylvania, said she has stocked up on certain products and tools for another year in anticipation of price increases.

She wants to avoid “bootleg” products, which are made illegally and often aren't as safe, but became much more prevalent in the marketplace during economic downturns.

“I'm really conscientious about my Black minority clients because we make a heck of a lot less than other nationalities,” said Mitchell, who is Black. “I try to keep prices low so we can continue to have the same services, but I know I will have to raise it.” (AP) GSP

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