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    Union Minister of Finance and Corporate Affairs interacts with interns from PM Internship Scheme in New Delhi
    DRI uncovers large-scale illegal use of SAFTA agreement in areca imports
    Rupee falls 17 paise to 95.59 against US dollar in early trade
    Colombian president asks Trump to suspend tariffs to help earthquake recovery
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August 17, 2026
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Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
August 17, 2026
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SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
August 17, 2026
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FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
August 16, 2026
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Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
August 16, 2026
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Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.
August 16, 2026
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Electric vehicle export diversification strengthens India's presence across European, Asia-Pacific and Latin American markets through expanding overseas demand.
India's electric motor car exports expanded sharply in the first quarter of 2026-27, reflecting increased international acceptance and competitiveness of India-manufactured electric vehicles. Europe became the principal export destination, led by Spain and the United Kingdom, with further demand across several European markets. Exports also reached Asia-Pacific markets, Nepal and emerging Latin American destinations. This wider market presence reflects improving quality and safety standards, stronger integration into global electric-vehicle supply chains, and diversification of India's electric-vehicle export profile.
August 16, 2026
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LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
August 16, 2026
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Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
August 15, 2026
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Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
August 15, 2026
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Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
August 15, 2026
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Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
August 15, 2026
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Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
August 15, 2026
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Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
August 15, 2026
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Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
August 15, 2026
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Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.
August 14, 2026
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Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
August 14, 2026
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Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
August 14, 2026
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Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
August 14, 2026
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Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
August 14, 2026
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Wholesale and producer price indices show July inflation movements, provisional estimates, final revisions, and manufacturing input-price trends.
Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.

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95th Meeting of Network Planning Group under PM GatiShakti evaluates key Infrastructure projects

June 13, 2025

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NPG evaluates Metro Rail, Road, and Logistics Park Projects

The 95th meeting of the Network Planning Group (NPG) was convened to evaluate infrastructure projects in the Metro Rail and Roads, Transport & Highways and Logistics Parks. The meeting focused on enhancing multimodal connectivity and logistics efficiency in alignment with the PM GatiShakti National Master Plan (PMGS NMP).

The NPG evaluated five projects (1 - Metro Rail Project and 2  Road & 2 Logistics Parks) for their conformity to the PM GatiShakti principles of integrated multimodal infrastructure, last-mile connectivity to economic and social nodes and intermodal coordination. These initiatives are expected to boost logistics efficiency, reduce travel times, and deliver significant socio-economic benefits across regions. The evaluation and anticipated impacts of these projects are detailed below:

Ministry of Housing and Urban Affair (MoHUA)

Ahmedabad Metro Rail Project Phase-2A
(Metro connectivity to Sardar Vallabhbhai Patel Airport)

The Ministry of Housing and Urban Affairs (MoHUA has proposed the plans to extend the Ahmedabad Metro by 6.032 km to provide direct connectivity to Sardar Vallabhbhai Patel International Airport from Koteshwar Metro Station (excluding). This strategic extension is poised to significantly enhance urban mobility by offering faster, more convenient access to the airport for daily commuters, airport personnel, and residents across the city. The project will not only improve airport accessibility but also contribute to a more integrated and efficient intra-city transit system in Ahmedabad. Designed to support the city’s long-term mobility needs, the corridor aims to reduce travel time, ease congestion, and promote the use of public transport. The planning process has involved close collaboration with key stakeholders, including the Sardar Vallabhbhai Patel International Airport Authority (SVPIA), Ahmedabad Municipal Corporation (AMC), Ahmedabad Urban Development Authority (AUDA), Ministry of Defence, Urban Development & Urban Housing Department (UD&UHD), Ahmedabad Janmarg Limited, AMTS, Sabarmati Riverfront Development Corporation Limited, and the GOLYMPIC team. Once completed, the proposed metro link will enhance both intercity and intracity connectivity between Ahmedabad and Gandhinagar, supporting sustainable urban development and offering a more seamless and efficient commuting experience.

Ministry of  Road, Transport & Highways(MoRTH)

Construction of 8-lane access-controlled Highways of NH 248S for Connectivity to Proposed Vadhavan port

The Ministry of Road Transport and Highways (MoRTH) has proposed the plans for the construction of an 8-lane access-controlled highway along NH-248S to improve connectivity to the upcoming Vadhavan Port in Maharashtra. This strategic infrastructure initiative aims to ensure efficient cargo evacuation and support the port’s development as a major global trade hub. Vadhavan Port, leveraging a natural draft of approximately 20 meters, is being developed to accommodate large container vessels. In its first phase, the port will offer a container handling capacity of 15 million TEUs, with expansion to 23.2 million TEUs planned in the second phase. Upon completion, the port is expected to rank among the top 10 container ports worldwide. According to traffic projections, the proposed port access road will handle approximately 57,329 Passenger Car Units (PCUs) by 2030. Efficient multimodal evacuation of cargo remains a central focus of the project, with dedicated rail and road corridors being developed for streamlined movement of bulk and containerized freight.

  • Key hinterland connectivity features include:
  • Mumbai–Delhi Western Railway Line – 12 km
  • Delhi–Mumbai Expressway (NE4) – 21 km
  • National Highway-48 (NH-48) – 32 km

The dedicated project road will directly connect the Delhi–Mumbai Expressway and NH-48, significantly enhancing logistics efficiency and reinforcing Vadhavan Port’s role as a strategic gateway for international trade.

Construction of Four Lane Elevated Road in Jodhpur city portion from Mahamandir to Akhaliya Chouraha.

The Ministry of Road Transport and Highways (MoRTH has proposed the plans for the construction of a 4-lane elevated corridor in Jodhpur city, extending from Mahamandir to Akhaliya Chouraha. Strategically aligned along NH-62 and NH-125, the project aims to alleviate traffic congestion and enhance urban mobility across one of Rajasthan’s busiest city corridors. The proposed 2+2 lane elevated structure will span 7.633 km, bypassing 8 major and 20 minor junctions, and is expected to reduce travel time by approximately 20 minutes during peak hours. Key junctions along the route include Mahamandir, Paota Circle, Nai Sadak Chouraha, Ranchordas Mandir Junction, Jalori Gate, 5th Chopasani Road Circle, Bombay Motor Circle, and Akhaliya Chauraha. Out of the total length, 3.50 km will run along NH-62 (from Mahamandir to Station Road), and 1.25 km along NH-125 (from Bombay Motor Circle to Soorsagar Road). The corridor is being designed to meet growing traffic demands, with lane requirements projected to double over the next two decades based on current usage patterns. Once completed, the elevated road will ensure seamless and congestion-free movement across NH-62, NH-125, and NH-25, supporting the city’s long-term development goals and improving connectivity across key urban and regional nodes.

MMLP Hyderabad

The Ministry of Road Transport and Highways (MoRTH) has proposed to develop a Multi-Modal Logistics Park (MMLP) at Parkibanda village in Manoharabad Mandal, Medak district, Telangana. Spanning 315 acres, the proposed facility is aimed at transforming freight logistics in the region by facilitating seamless cargo movement, improving connectivity, and promoting economic growth. The MMLP is projected to handle 1.47 million metric tonnes (MMT) of cargo annually starting 2028, with capacity expected to scale up to 19.98 MMT by 2070. The facility will offer integrated services such as modal shift, cargo aggregation/disaggregation, and customs clearance—benefiting industries in and around Hyderabad. The site is strategically located within a 50 km radius of key industrial hubs including Chandulal Baradari, Sanathnagar, and Azamabad Industrial Estates, and is in close proximity to Jeedimetla, Balanagar, and Cherlapalli Industrial Areas.

The site offers robust multimodal connectivity. It is connected to NH-44 via the existing village road and lies less than 5 km from Manoharabad Railway Station. Upon completion of the Regional Ring Road, the MMLP will have seamless access to major freight corridors, including Mumbai and Jawaharlal Nehru Port (JNPT)—a key gateway for cargo bound to and from Hyderabad.

This strategic development is part of MoRTH’s broader initiative to modernize India’s logistics infrastructure, reduce freight costs, and support economic competitiveness.

MMLP Patna

The Ministry of Road Transport and Highways (MoRTH) has proposed to  develop a Multi-Modal Logistics Park (MMLP) at Jaitiya village, located in Fatuah Taluka of Patna district, Bihar. Spread over 106.19 acres (42.97 hectares), the proposed facility is projected to handle 5.43 million metric tonnes (MMT) of cargo annually by 2071, and is poised to become a major logistics hub for the region.

Strategically located, the site is just 6.2 km from Top Sarthua Railway Station, 30 km from Patna Airport, and 20 km from ISBT Patna (Zero Mile), providing strong multimodal connectivity. It lies within a 30 km radius of key industrial clusters including Fatuah, Patliputra, and Kopakala Industrial Areas, making it ideally positioned to support both regional and long-distance freight movement. The MMLP will benefit from proximity to the Patna–Gaya railway line (9 km away) and direct access to major freight corridors via NH-131G, NH-31, NH-139, NH-22, NH-119D, and State Highway-1 (SH-1). These routes connect the park to key trade nodes such as Patna International Airport, Kolkata, and Haldia Port, enabling seamless domestic and international cargo movement. With its central location, phased development strategy, and integrated infrastructure, the Jaitiya MMLP is set to play a vital role in modernizing Bihar’s logistics ecosystem and supporting the region’s economic growth.

The meeting was chaired by Joint Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Shri Pankaj Kumar.

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