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    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
    PM Modi speaks to UK counterpart Burnham
    Bank credit to industry records robust growth of 19.2 pc in June: RBI data
    Delhi protesters' fingerprints collected from stones for identification via Aadhaar: BJP minister
    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
    Jharkhand signs pact with CSC eStore to make SHG products made by women available online
    APEDA Facilitates First-Ever Air Shipment of Karnataka's Neelam and Totapuri Mangoes to the Maldives
    Favara-UPI Cross-Border Payment Corridor Goes Live Between Maldives and India
    SC upholds NCLAT order setting aside CCI's Rs 301.6-cr penalty on Grasim Industries
    China's factory activity unexpectedly slips into contraction in July
    PM Modi to inaugurate Bhogapuram Airport on Aug 1 in Andhra Pradesh
    Rupee rises 20 paise to 95.30 against US dollar in early trade
    APEDA Facilitates First-Ever Sea Shipment of Value-Added Flavoured Makhana from Bihar to Canada
    Indian envoy meets Chinese commerce ministry official; Calls for enhanced market access
    ED attaches Rs 94 crore in foreign bank account in fraud case against Delhi-based rice firm
    Ensure uniform deposit rates across all branches: RBI tells banks
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    July 31, 2026
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    India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
    The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
    July 31, 2026
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    Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
    Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.
    July 31, 2026
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    One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
    The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
    July 31, 2026
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    Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
    The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
    July 31, 2026
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    Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
    Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
    July 31, 2026
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    Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
    Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
    July 31, 2026
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    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    July 31, 2026
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    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
    July 31, 2026
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    Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
    Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
    July 31, 2026
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    Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
    Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
    July 31, 2026
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    Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
    Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.
    July 31, 2026
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    Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
    Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.
    July 31, 2026
    Show AI Summary
    Manufacturing contraction highlights weak domestic demand, property-sector pressure and continued reliance on technology-related exports for economic growth.
    Manufacturing activity in China contracted in July, as the official purchasing managers' index fell below the expansion threshold and new orders and production declined. Weak domestic demand, lower building activity and possible typhoon-related disruptions contributed to the slowdown. Consumer spending, investment and property-sector weakness continue to affect confidence, while technology-related exports support growth. Policy commitments include strengthening domestic consumption amid continued reliance on exports.
    July 31, 2026
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    Public-private partnership airport development strengthens aviation, cargo logistics, export infrastructure and sustainable connectivity through an integrated international airport project.
    The Bhogapuram airport project is being implemented under a Public-Private Partnership through the Design, Build, Finance, Operate and Transfer framework. It has obtained required aerodrome, safety, fire and environmental clearances and includes infrastructure for domestic and international aviation, passenger processing and airport security. Cargo and cold-chain facilities are intended to support exports and logistics integration, while recycled-water use and LEED Platinum standards form part of the project's sustainability features.
    July 31, 2026
    Show AI Summary
    Rupee appreciation against the US dollar continued as foreign inflows and lower crude prices supported domestic currency markets.
    Rupee appreciation against the US dollar continued in early trading, supported by foreign capital inflows and lower global crude oil prices. A stronger US dollar constrained further appreciation, while expectations of continued Reserve Bank of India intervention were cited as supporting the rupee. Declining Brent crude prices, gains in domestic equity indices and net foreign institutional investment in equities were also identified as relevant market factors.
    July 31, 2026
    Show AI Summary
    Value-added Makhana exports expand international market access, support quality compliance, and improve farmer returns through processing and branding.
    Agricultural export facilitation supported the first sea shipment of value-added flavoured Makhana from Bihar to Canada. Processed and packaged to international quality and food-safety standards, the export demonstrates the role of processing, value addition and export-oriented manufacturing in expanding overseas market access. The initiative is stated to improve farmer returns through value addition, while capacity building, export infrastructure, quality compliance, market linkages and stakeholder collaboration support the agri-export ecosystem.
    July 30, 2026
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    Market access for Indian pharmaceuticals remains central to bilateral efforts to promote sustainable trade and economic cooperation.
    Enhanced market access for Indian products, particularly pharmaceuticals, was raised in discussions aimed at strengthening bilateral trade and economic ties. The discussions addressed sustainable trade, and the sides agreed to increase mutual cooperation and communication. India continues to seek greater access to China's information technology, pharmaceutical and agricultural sectors, while pursuing increased pharmaceutical exports and Chinese investment. Bilateral trade increased, but India's trade deficit widened, reflecting an ongoing imbalance in trade flows.
    July 30, 2026
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    Money laundering asset attachment targets overseas bank deposits linked to alleged loan fraud and fugitive economic offenders.
    Provisional attachment under the Prevention of Money Laundering Act was reported against Singapore bank deposits held by a company promoter and associated entities in an alleged loan-fraud and money-laundering investigation. The underlying case arises from allegations of fraud, criminal misappropriation, criminal breach of trust and cheating affecting a consortium of lending banks. Service of the attachment order was reported through mutual legal-assistance arrangements, and the promoters had reportedly been declared fugitive economic offenders.
    July 30, 2026
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    Deposit interest rate uniformity requires equal rates for similar deposits, while allowing risk-based differentiation for bulk deposits.
    Banks must apply uniform deposit interest rates across branches and customers for similar deposit amounts accepted on the same date, without discrimination. Rates payable, including for bulk deposits, must strictly follow schedules disclosed in advance on bank websites. Bulk deposit rates must be published each business day at 10:00 am, subject to a short permitted delay. Differentiated bulk-deposit rates may be offered based on applicable differential run-off rates under the Liquidity Coverage Ratio framework.
    July 30, 2026
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    Supply-chain continuity measures prioritise energy, fertiliser and seafarer protection amid conflict-driven disruptions across critical maritime transit routes.
    Supply-chain continuity and energy security measures were reviewed in response to geopolitical conflicts disrupting maritime transit routes and imports. Measures included diversification of LPG procurement, maintenance of petroleum stocks, expansion of PNG, gas-grid, LNG and city-gas infrastructure, and pipeline connectivity approvals. Fertiliser requirements and alternative procurement sources were considered to ensure uninterrupted supply. A unified monitoring mechanism and support arrangements for seafarers, including timely information, emergency assistance and counselling, were directed to protect citizens, economic interests and the Indian diaspora.

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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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