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    30-member Indian commerce chamber delegation to visit Sri Lanka
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    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
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    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.
    July 23, 2026
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    Temporary Section 122 surcharge expiry may restore MFN treatment for Indian exports, while Section 301 tariff uncertainty continues.
    The US temporary Section 122 import surcharge on Indian goods is scheduled to expire unless extended or replaced, restoring affected imports to normal US MFN tariff treatment. Liability depends on entry for consumption or warehouse withdrawal. Section 232 national-security tariffs remain unchanged. Indian exports may still face fresh measures under Section 301 investigations into forced labour and excess manufacturing capacity, alongside potential country-specific or sectoral tariffs. The expiry may improve export competitiveness and market access, particularly for labour-intensive and MSME-driven sectors.
    July 23, 2026
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    Quantum finance innovation will advance secure digital banking through cybersecurity, fraud detection, collaborative research, workforce development and digital literacy.
    A Quantum Finance Innovation Hub is proposed to apply quantum technologies to banking through stronger cybersecurity, proactive financial-fraud detection and secure digital financial ecosystems. The initiative will bring together industry, academia, startups, research organisations and government agencies to promote innovation in quantum computing, artificial intelligence and related technologies. It also focuses on workforce development, digital literacy, public confidence in digital financial services, and technology-enabled responses to cybercrime and digital-arrest scams.
    July 23, 2026
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    Chief executive succession plan appoints a CEO designate, subject to shareholder approval, for an AI-led corporate leadership transition.
    Corporate leadership succession at Infosys is proposed through the appointment of Ashiss Kumar Dash as Managing Director and Chief Executive Officer designate from 1 April 2027. The five-year appointment is subject to shareholder approval and follows a recommendation of the Board's Nomination and Remuneration Committee. The incumbent will remain in office until the transition date and support an orderly transfer of responsibilities. The succession plan identifies the CEO designate's business, technology-delivery, client and global operations experience as relevant to AI-led transformation.
    July 23, 2026
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    Bullion market pressure intensified as rising oil prices, inflation concerns and restrictive monetary policy expectations weakened gold and silver sentiment.
    Gold and silver prices declined amid weaker global bullion trends, profit-booking, and higher crude oil prices linked to Middle East tensions. Market commentary associated the decline with inflation concerns and expectations that major central banks may sustain restrictive monetary policy for longer. Gold was described as facing near-term pressure from higher interest-rate expectations, inflation risks, and geopolitical uncertainty.
    July 23, 2026
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    Quantum finance innovation will develop secure, AI-enabled banking solutions through collaborative research, startup incubation, cybersecurity enhancement and workforce development.
    Quantum finance innovation is to be advanced through a memorandum of understanding for establishing the PNB Quantum Finance Hub at Amaravati Quantum Valley. The hub will develop, test and support adoption of secure, intelligent and future-ready banking solutions using Quantum Computing and Artificial Intelligence. It will bring together industry, academia, startups and government agencies for research, innovation, incubation and acceleration of financial technologies, focusing on cybersecurity, fraud detection, operational efficiency, risk management and customer experience.
    July 23, 2026
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    Foreign investment in inventory-based e-commerce is allowed only for exports of Indian-made goods, while domestic retail remains prohibited.
    Foreign direct investment in inventory-based e-commerce is permitted exclusively for exports of goods or products manufactured or produced in India. Restrictions on business-to-consumer and inventory-based e-commerce do not apply to these exports, subject to the Foreign Trade Policy 2023 and export regulations. Foreign direct investment in inventory-based e-commerce retailing for domestic sales remains prohibited, with the revised position taking effect upon the relevant foreign exchange notification.
    July 23, 2026
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    Joint Home Loan Eligibility and Shared Repayment Liability Shape Borrowing Capacity, Tax Claims, Documentation, and Exit Planning.
    Joint home loans allow eligible applicants to combine income for a single housing loan, while making every co-applicant fully responsible for repayment. Eligibility depends on each applicant's income, financial obligations, credit history, age, repayment capacity and property criteria. Applicants should agree on EMI sharing, ownership proportions and exit arrangements before applying, as removal of a co-applicant requires lender approval and reassessment. Co-owner borrowers may claim applicable interest and principal repayment deductions subject to ownership, contribution and income-tax requirements. Each applicant must provide separate identity, income and banking documentation.
    July 23, 2026
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    Export competitiveness increasingly depends on regulatory compliance, preferential trade access and diversification into smartphones, medicines, petroleum products and semiconductors.
    India's export potential to 2031 is centred on smartphones, polished diamonds, petroleum products and medicines, with the United States, Hong Kong, Japan, China, Singapore and the United Arab Emirates as important markets. New product opportunities include iron ore concentrates, gasoline vehicles and light petroleum oils. Although selected destinations offer duty-free or preferential access, market entry in mature markets increasingly depends on compliance with non-tariff measures, including registration, quality certification, safety documentation and product standards. Semiconductor-related manufacturing is identified as a long-term opportunity supported by expanding electronics capacity, supply-chain diversification and domestic incentives.
    July 23, 2026
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    Foreign investment in inventory-based e-commerce is permitted exclusively for exports of Indian-manufactured or produced goods under export compliance rules.
    Foreign direct investment in inventory-based e-commerce is permitted exclusively for exports of goods or products manufactured or produced in India. Foreign direct investment remains permitted in business-to-business e-commerce and the marketplace model, while business-to-consumer and inventory-based direct sales to consumers remain prohibited except for the specified export activity. Export-oriented inventory-based operations must comply with the applicable Foreign Trade Policy and foreign exchange regulations governing exports.
    July 23, 2026
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    Women's leadership in credit expands through a Chennai community platform supporting mentorship, inclusive lending practices, and financial ecosystem collaboration.
    The Chennai chapter of the 'Credit Goes to HER' initiative provides a platform for women professionals in banking, NBFCs, fintech, housing finance, academia and policy to share knowledge, obtain mentorship and collaborate on inclusive credit practices. It seeks to strengthen women's leadership and participation in the credit ecosystem while supporting responsible lending, financial inclusion, transparency and data-driven decision-making.
    July 23, 2026
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    Digital personal-loan campaign combines online collateral-free borrowing, eligibility-based assessment, flexible repayment options and conditional lifestyle rewards for successful disbursals.
    Digital personal-loan campaign permits eligible customers to apply online for collateral-free borrowing and receive specified lifestyle rewards upon successful disbursal, subject to campaign terms. Applicants may check an offer, provide personal, financial and employment information, review loan terms, complete know-your-customer and bank-account verification, and undergo assessment. Interest rates, loan amounts and repayment tenures depend on eligibility, credit profile, income and internal assessment. An EMI calculator supports comparison of repayment options and estimation of monthly instalments before application.
    July 23, 2026
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    Foreign-exchange market pressure weakened the rupee as elevated crude prices and risk sentiment drove trading conditions.
    Foreign-exchange market movement saw the rupee depreciate against the US dollar amid elevated crude oil prices linked to heightened West Asia hostilities. Weak domestic equity markets and foreign investor equity outflows contributed to negative sentiment. Market commentary indicated that prospective Reserve Bank of India intervention supported the rupee and could limit sharper depreciation, while shipping-security concerns contributed to elevated oil prices.
    July 23, 2026
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    Homebuyer refund claims in developer insolvency proceed through pro-rata distribution of funds deposited for eligible buyers.
    Homebuyer refund claims connected with demolished residential towers are being considered within the developer's insolvency proceedings. Buyers who have not opted for alternative allotment seek repayment. Eligible refunds are contemplated on a pro-rata basis from funds deposited by the Interim Resolution Professional, subject to the claims process and the availability of deposited funds.
    July 23, 2026
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    Free trade agreement tariff reductions create investment opportunities for Asia-Pacific manufacturers seeking UK and European market access.
    The UK-India Free Trade Agreement is presented as reducing tariffs on advanced machinery and manufacturing-related goods and creating trade and investment opportunities for Asia-Pacific manufacturers seeking UK and European market access. Manchester is promoted as an investment location through its advanced manufacturing cluster, skilled workforce, innovation infrastructure, international links, and available manufacturing and research space. Invest Manchester provides investor support and undertakes international engagement to develop trade, investment and innovation partnerships.

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      Cyril Shroff AI Law Centre of Jindal Global Law School Launched in London by Harvard Law Professor

      July 1, 2025

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      London, 1 July 2025: In a landmark event for India’s legal education and global AI governance, the Cyril Shroff Centre for AI, Law & Regulation at Jindal Global Law School (JGLS), O.P. Jindal Global University (JGU), was formally launched at the historic Law Society of England and Wales, London. This is India’s first Centre of Excellence exclusively dedicated to the intersection of artificial intelligence, law, and public policy.

      The lecture was co-hosted by O.P. Jindal Global University, The Law Society of England and Wales, The Cyril Shroff Centre for AI, Law and Regulation, India Business Group, and Jindal Global Law School.

      The Centre has been established through a transformative ₹15 crore endowment by Mr. Cyril Shroff, Managing Partner of Cyril Amarchand Mangaldas, and reflects his visionary commitment to advancing ethical AI regulation and access to justice. Anchored at JGLS—India’s No. 1 ranked law school—the Centre will foster interdisciplinary research, executive education, and international collaborations to shape the future of law and technology in India and beyond.

      The highlight of the evening was the inaugural lecture by Professor David B. Wilkins, Lester Kissel Professor of Law and Vice Dean for Global Initiatives at Harvard Law School, titled “Reimagining Law, Lawyers, and Justice in the Age of Artificial Intelligence.” The lecture was followed by a panel discussion with global experts in AI, law, and regulation.

      Speaking at the launch, Professor (Dr.) C. Raj Kumar, Founding Vice Chancellor of JGU, said: “The launch of the Cyril Shroff Centre for AI, Law & Regulation represents a bold and forward-looking step in the evolution of legal education and technological innovation. At JGU and JGLS, we are committed to ensuring that emerging technologies like AI are harnessed to uphold justice, human dignity, and democratic values. This Centre is not only about research and policy—it is about shaping the future of access to justice in a digital world.” Reflecting on the significance of this institutional moment, Professor Raj Kumar emphasised: “I also want to take this moment to recognize and honour Mr. Cyril Shroff’s extraordinary act of philanthropy and intellectual vision. It is not common to see law firms and their leaders invest so deeply in the public interest, especially in frontier areas like AI. His contribution reflects what all law firms should aspire toward: to play a transformative role in building thought leadership and influencing the public policy architecture of our time. We need more institutions like this—where legal minds work hand-in-hand with scientists, engineers, ethicists, and policymakers to shape the future.” Mr. Cyril Shroff, Managing Partner of Cyril Amarchand Mangaldas whose leadership and generosity made the Centre possible, added: “India is at a crucial inflection point where law and technology must converge to serve the public good. AI can be a powerful equalizer—transforming access to justice, speeding up legal processes, and making governance more efficient. But we must proceed with both innovation and inclusion. Through this Centre, we aim to contribute to global discourse and build frameworks that are thoughtful, ethical, and future-ready.” Speaking about the impact of AI on the legal profession, Mr. Cyril Shroff said: “For lawyers to fully engage with the challenges and opportunities posed by AI, we must embrace interdisciplinary research. Law cannot operate in a silo—our thinking must be informed by technology, data science, behavioural insights, ethics, and more. I am hopeful that this Centre will emerge as a hub of ideas and leadership from the Global South, where normative rule-making and benchmarking should not merely follow—but begin. India has both the capacity and the responsibility to be a thought leader in this space.” Articulating the vision of the Centre, Mr. Cyril Shroff observed: “Jindal Global Law School combines intellectual depth with global ambition—making it the ideal partner for pioneering AI and law research. Its interdisciplinary ethos and strong international networks create fertile ground for innovation. Hosting the Centre here ensures the ideas it generates resonate far beyond India, influencing global regulatory thinking from the Global South.” Mr. Richard Atkins, President of the Law Society of England & Wales, welcomed the gathering and offered spirited opening remarks: “It was a great honour for the Law Society to host this significant event. For over 200 years, the Law Society has served the legal profession in upholding the rule of law and advancing justice. The launch of the Cyril Shroff Centre for AI, Law & Regulation here in London reflects a shared commitment to global legal innovation and collaboration. We are proud to support this important initiative that brings together law, technology, and public service in such a powerful way.” Delivering the keynote lecture, Professor David B. Wilkins of Harvard Law School observed: “Artificial intelligence is not just a tool for lawyers—it is transforming the very architecture of legal systems. Institutions like the Cyril Shroff Centre are essential to ensuring that AI is integrated into the rule of law responsibly, ethically, and equitably. Lawyers must now become architects of technological justice, not just interpreters of legal codes. AI is also reshaping the landscape of the legal profession and the structure of law firms themselves. From client service delivery and dispute resolution to document review and predictive analytics, the profession is undergoing a seismic shift. We must be mindful of how these changes affect not only the economics of law, but also its core values—fairness, accountability, and human judgment. The legal profession must rise to this moment with both courage and conscience.” Congratulating Mr. Cyril Shroff for his leadership in philanthropy and Professor Raj Kumar on his outstanding contributions to global institution building efforts, Professor David Wilkins observed: “Jindal Global Law School is uniquely positioned to lead this global conversation. Its commitment to academic excellence, ethical leadership, and international engagement makes it the natural home for this Centre. There is no better institution in the Global South to shape how AI and law intersect for the public good.” Professor (Dr.) Shailendra Raj Mehta, The O.P. Jindal Distinguished University Professor at JGU, emphasized: “India has a rare opportunity to lead the world in responsible AI governance. To do that, we need serious academic institutions that can produce research, train professionals, and influence global policymaking. The Cyril Shroff Centre will be a beacon of thought leadership, policy insight, and ethical reflection.” The evening featured a dynamic panel discussion moderated by Professor (Dr.) C. Raj Kumar and Mr. Cyril Shroff, and brought together leading global voices from academia, the judiciary, and law firms. The panelists included: • Professor Michael Veale, Associate Professor in Digital Rights and Regulation, University College London • Ms. Verity Egerton-Doyle, Partner, Linklaters LLP, United Kingdom • Professor Chris Reed, Professor of Electronic Commerce Law, Queen Mary University of London • Hon’ble Mr. Justice Michael D. Wilson, Distinguished Professor at JGU and former Justice, Supreme Court of Hawai’i • Mr. Tim Hickman, Partner, White & Case LLP, United Kingdom • Professor (Dr.) Christoph Winter, Director, Institute for Law & AI and Assistant Professor of Law & AI, University of Cambridge The panel explored the evolving regulatory landscape of AI, the implications for privacy and fundamental rights, the ethical challenges for lawyers and policymakers, and the role of India in shaping a human-centred global AI framework.

      The Centre’s mission includes conducting interdisciplinary research, offering executive and professional education programmes, and engaging with international bodies like the OECD, UN, and EU to contribute to globally harmonized regulatory approaches. As India emerges as one of the world’s leading digital economies—with a tech-savvy youth population and increasing global influence—the Centre will play a pivotal role in building institutional capacity for AI law and governance.

      The event also reflected on recent reforms such as India’s historic decision to allow foreign law firms into the domestic legal sector and the anticipated Indo-UK Free Trade Agreement, which will open up new opportunities across law, regulation, and technology.

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

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