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    Direct taxes grow 16 pc to Rs 6.51 lakh crore so far on faster corporate tax mop-up
    Gurugram realty 'fraud': SC transfers money-laundering case involving Amit Katyal to Delhi
    Import of goods produced through use of forced labour prohibited: Govt
    CID chief Supratim Sarkar shifted in major police rejig; Jayraman moved to Economic Offences wing
    A Swadeshi Blueprint for a Rs.3000 Trillion Bharat: The BGIF Story
    International-level market to be set up near Vadhvan Port to boost farm exports: Minister
    India, China trade rises to USD 91.72 bn in first 6-month, trade deficit widens to USD 67.1 bn
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    First Round of India–Maldives Free Trade Agreement Negotiations Concludes Successfully
    Explore Touristhub Holidays LLP Honoured by Saina Nehwal at Business Excellence India Awards 2026
    Rupee falls 62 paise to close at 96.30 against US dollar
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    Direct tax mop-up grows 16 pc to over Rs 6.51 lakh cr so far in FY27
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    CBN Madhya Pradesh Unit busts high-tech MD manufacturing lab in Pune; Two masterminds arrested from Ujjain and Jodhpur under multi-city ‘Operation V...
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    July 14, 2026
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    Corporate tax growth strengthens direct tax collections, reflecting resilient profitability, advance tax payments, and improving compliance
    Net direct tax collections rose by 16.40 per cent to over Rs 6.51 lakh crore up to July 13, driven mainly by a 22 per cent increase in net corporate tax collections. Net non-corporate tax collections also increased, while Securities Transaction Tax collections grew by 48 per cent. Gross direct tax collections rose by 16.11 per cent, and refunds increased by 14.57 per cent. The collection trend was associated with resilient corporate profitability, stronger corporate advance tax payments, continued compliance and increasing formalisation.
    July 14, 2026
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    PMLA territorial jurisdiction in homebuyer fraud permits concurrent forum competence where alleged proceeds were acquired and concealed across locations
    Money-laundering proceedings arising from alleged cheating of homebuyers in a Gurugram real-estate project were transferred to the Special PMLA Court at Saket, Delhi, with prosecution continuing from its existing stage. The jurisdictional issue involved alleged acquisition of proceeds of crime at Gurugram and concealment of attached proceeds in Delhi, creating simultaneous jurisdiction for the PMLA courts at both locations. The underlying allegations include collection of funds before project licensing, fraudulent bookings, diversion of project funds, undervalued land transfers during insolvency, and diversion of public-sector bank loans.
    July 14, 2026
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    Forced-labour import ban strengthens trade controls, with DGFT inquiry procedures and government power to restrict identified goods.
    The Foreign Trade Policy, 2023 prohibits the import of goods produced or manufactured, wholly or partly, through forced labour. The central government may prohibit specific goods where an inquiry or other relevant evidence indicates forced-labour production. The Directorate General of Foreign Trade will conduct inquiries under the procedure prescribed in the Handbook of Procedures, 2023. Forced labour is defined by reference to the ILO Forced Labour Convention, 1930, as work or service exacted under threat of penalty without voluntary offer by the person concerned.
    July 14, 2026
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    Police leadership reshuffle strengthens economic-offences investigations and reallocates senior officers across intelligence, security, and district policing
    West Bengal reorganised its police leadership by transferring 28 IPS officers and five WBPS officers across investigative, intelligence, telecommunications, correctional, traffic, cyber and district-policing assignments. N R Babu became head of the Criminal Investigation Department while retaining additional charge of prisons, and Supratim Sarkar moved from the CID to Telecommunications. K Jayraman was appointed Director of the Directorate of Economic Offences in the context of the government's stated focus on alleged financial irregularities. Other changes included new leadership for the Special Task Force, Intelligence Branch, Bidhannagar Police, the Narayani Battalion and several districts, including revised postings in Baruipur following serious criminal incidents.
    July 14, 2026
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    Industrial collaboration platform combines policy advocacy, regulatory guidance and cross-border manufacturing partnerships to advance India's global industrial ambitions
    BGIF is presented as a Swadeshi-oriented industrial collaboration and policy platform connecting businesses, policymakers, investors, technocrats and innovators. Its functions include policy advocacy, regulatory guidance, sector-specific insights, investment access, fundraising support, deal structuring and business expansion. The forum operates through domestic chapters and an international network, and reports engaging in freight-related policy advocacy, participating in pre-Budget consultations, and facilitating a memorandum of understanding between an Indian manufacturer and an overseas partner for manufacturing cooperation and technology exchange. Its roadmap includes further chapters, international partnerships, industry conclaves and policy dialogues.
    July 14, 2026
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    Integrated agricultural trade hub near Vadhvan Port aims to strengthen exports through cold chains, logistics, and transparent trading
    Maharashtra has approved an international-standard agricultural market at Dapchari in Palghar district near the upcoming Vadhvan Port. Developed by the Maharashtra State Agricultural Marketing Board, the project will combine an international market, a market of national importance and Agricultural Produce Market Committees. Planned infrastructure includes wholesale and import-export facilities, cold chains, grading and packaging units, multimodal logistics, warehouses, testing laboratories, container terminals, railway siding, e-auctions and an export facilitation centre. The project aims to support transparent trading, post-harvest value addition, reduced losses and improved agricultural exports.
    July 14, 2026
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    Bilateral trade expansion with China coincides with a widening deficit, as India seeks greater market access and investment
    Bilateral trade between India and China increased in the first half of 2026, while the trade imbalance widened in China's favour. Chinese exports included electronics, telecommunications equipment, semiconductors, batteries, machinery, computers, chemicals, plastics and polymers. Indian exports included minerals, refined fuels, chemicals, electronics, agricultural and marine products, metals, gems, jewellery and pharmaceuticals. India continues to seek improved Chinese market access for information technology, pharmaceutical and agricultural products, alongside greater Chinese investment in India. Discussions also focus on expanding the range of traded goods and applying consumer-protection mechanisms while enabling increased Indian exports.
    July 14, 2026
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    Language-policy challenges and religious-practice arrangements highlight legal developments alongside deportation reform and criminal investigation measures.
    The Supreme Court sought responses on challenges to the CBSE three-language requirement for Class 9 students and directed that Muslims be provided a separate open space adjacent to the disputed Bhojshala site for Friday prayers. A special NIA court issued a non-bailable warrant against Hafiz Saeed in connection with an investigation into the Pahalgam terror attack. The United Kingdom initiated a legislative change intended to remove an obstacle to deporting a grooming-gang leader to Pakistan.
    July 14, 2026
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    India-Maldives FTA negotiations advance market access, investment facilitation and broader economic cooperation through eight technical sessions
    The first round of India-Maldives Free Trade Agreement negotiations concluded after virtual, text-based discussions across eight technical sessions and eight policy areas. The parties made substantive progress and reached broad convergence on several issues. The proposed FTA is intended to enhance market access, facilitate investment, promote economic cooperation and support sustainable economic growth. Both sides are pursuing a broad-based, balanced and comprehensive agreement guided by fairness and reciprocity, while also seeking deeper cooperation in tourism, startups, digital payments, MSMEs and trade.
    July 14, 2026
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    Business excellence recognition highlights Explore Touristhub Holidays LLP's personalized travel planning, service quality, and customer-focused holiday experiences.
    Explore Touristhub Holidays LLP received recognition as a leading travel agency for memorable holiday experiences. The recognition highlighted its personalized holiday planning, customer satisfaction, itinerary innovation, and contribution to India's travel and tourism sector. The company provides leisure holidays, corporate travel management, MICE services, educational tours, group departures, honeymoon packages, pilgrimage tours, and customized travel experiences. Its service approach emphasizes tailored itineraries, quality hospitality, safety, seamless execution, competitive pricing, reliable support, and assistance throughout the journey.
    July 14, 2026
    Show AI Summary
    Rupee depreciation reflects crude oil pressures, geopolitical uncertainty, safe-haven dollar demand, widening trade deficit, and rising inflation
    The rupee depreciated against the US dollar amid higher crude oil prices, renewed geopolitical concerns and increased demand for safe-haven dollar assets. Rising crude prices increased India's dollar-denominated import burden and contributed to foreign exchange outflows and pressure on the domestic currency. India's exports increased year-on-year in June, but the trade deficit widened as imports, particularly crude oil imports, rose. Wholesale price inflation also increased, while net direct tax collections recorded year-on-year growth, primarily reflecting higher corporate tax collections.
    July 14, 2026
    Show AI Summary
    Bilateral economic cooperation expands through trade, investment, innovation, industrial partnerships and technology collaboration across priority sectors
    India and Spain pursued deeper economic cooperation through discussions on trade, investment, innovation and industrial partnerships. Priority areas included renewable energy, green hydrogen, advanced manufacturing, digital technologies, infrastructure, clean energy, mobility, tourism, automotive, railways and smart infrastructure. The discussions addressed market access, resilient supply chains, technology partnerships, investment flows and business linkages. The India-Spain Business Forum examined opportunities in manufacturing, infrastructure, renewable energy, digital technologies, the digital economy and innovation, while the Fast Track Mechanism was discussed as a means of facilitating new investments and strengthening business confidence.
    July 14, 2026
    Show AI Summary
    Direct tax collections rise as corporate and non-corporate tax receipts grow, alongside increased refunds during the fiscal year
    Net direct tax collection increased by 16.40 per cent to over Rs 6.51 lakh crore up to July 13 of the fiscal year. Net corporate tax collection rose by 22 per cent, while net non-corporate tax collection, covering individuals, Hindu undivided families and firms, increased by about 12 per cent. Refunds of Rs 1.22 lakh crore were issued, and gross direct tax collection increased by 16.11 per cent to over Rs 7.73 lakh crore.
    July 14, 2026
    Show AI Summary
    Export Order Through Subsidiary Expands Railway Equipment Business and Increases Unexecuted International Order Book Beyond Prior Executions
    IC Electricals received a USD 510,000 export purchase order from a United States customer through its subsidiary, Safe Coils India Private Limited. The order increases its unexecuted export order book to USD 1.8 million, representing growth of more than 300% compared with export orders executed during financial year 2025-26. The company manufactures railway electrical and electronic equipment and undertakes turnkey railway electrification projects, including design, supply, erection, testing, and commissioning of 25 kV AC overhead equipment and traction substations. Its forward-looking growth statements remain subject to governmental, economic, political, operational, and technological risks.
    July 14, 2026
    Show AI Summary
    Excess GST collection requires promoter refund or direct GST claims by eligible homebuyers after credit-note deadlines expire
    Registered real estate promoters must collect GST from homebuyers only at notified rates and refund any excess collection or issue a credit note where legally permissible. If a project is cancelled, an agreement terminated, or an allotment revoked after the statutory credit-note period expires, an eligible unregistered allottee may seek a direct GST refund by obtaining temporary registration through a PAN and filing Form GST RFD-01 with proof of tax payment, supporting documents, and a promoter-issued certificate. Claims must be filed within two years and remain subject to GST verification.
    July 14, 2026
    Show AI Summary
    India-UK trade pact expands preferential market access, with phased automobile tariffs, procurement rights, origin rules and intellectual-property safeguards
    The India-UK Comprehensive Economic and Trade Agreement provides duty-free or reduced-duty access for nearly 99% of Indian exports to the UK and phased tariff reductions for specified UK goods entering India. Automobile concessions are subject to quotas and differentiated treatment for conventional, electric, hybrid and hydrogen vehicles. Alcoholic-beverage concessions depend on phased tariff reductions and minimum import prices, while specified products remain excluded. The agreement covers government procurement, stronger intellectual-property enforcement while preserving compulsory licensing, temporary social-security contribution relief for transferred employees, and rules of origin requiring specified production, processing or value addition for preferential tariffs.
    July 14, 2026
    Show AI Summary
    Wholesale inflation rises as mineral, food, fuel and non-food prices intensify, complicating RBI's inflation-management mandate.
    Wholesale Price Index inflation increased to 9.87 per cent in June 2026, driven by mineral oils, food articles, basic metals, and chemicals. Fuel and power inflation remained elevated, while food and non-food article prices also rose. Retail inflation increased to 4.38 per cent. The Reserve Bank of India primarily considers CPI inflation for monetary policy and is mandated to maintain headline inflation at 4 per cent, with a tolerance range of 2 per cent on either side. Its inflation projection was raised due to higher input costs and the transmission of global energy prices to retail fuel prices.
    July 14, 2026
    Show AI Summary
    NCLT vacancies and infrastructure gaps remain under review as delays in insolvency resolution plans raise IBC efficiency concerns
    Delays in appointing judicial and technical members to the National Company Law Tribunal, inadequate infrastructure, and concerns over its disposal rate are being considered in suo motu proceedings. The hearing was deferred after the appointment process was reported to be underway. The proceedings followed concerns regarding persistent delays in approving insolvency resolution plans under the Insolvency and Bankruptcy Code, including applications pending before the NCLT for periods ranging from weeks to several years.
    July 14, 2026
    Show AI Summary
    Synthetic drug trafficking enforcement exposes clandestine Mephedrone laboratories, leading to arrests and seizure of manufacturing equipment under narcotics law
    Interstate synthetic drug trafficking enforcement under the NDPS Act, 1985 led to the dismantling of a sophisticated Mephedrone manufacturing laboratory and the arrest of two alleged chief conspirators during coordinated operations. Officers seized digital machinery, laboratory equipment, heavy glassware, precursor chemicals and safety gear used in illicit MD production. Sustained intelligence and interstate investigation identified a second facility financed and coordinated by a co-conspirator. Simultaneous searches resulted in the second arrest and seizure of the clandestine laboratory's equipment and chemicals, which were taken into possession under the NDPS Act, 1985. Further investigation remains in progress.
    July 14, 2026
    Show AI Summary
    Wildlife trafficking enforcement targets ivory, endangered species, and transnational smuggling through coordinated operations and CITES-based protections
    Intelligence-led operations targeted organised wildlife trafficking involving endangered and protected fauna, ivory, and other wildlife products. More than 440 protected or endangered animals, approximately 15 kg of ivory articles and elephant ivory, and products including pangolin scales, leopard pelt, seahorse-based articles, and Red Sanders were seized, while 33 persons were arrested or apprehended. Elephant ivory recoveries were referred to the Forest Department for action under the Wildlife (Protection) Act, 1972. The Indian elephant is protected under Schedule I, trade in elephants and derivatives is prohibited, commercial ivory trade is restricted under CITES obligations, and ivory imports and exports are prohibited under the Foreign Trade Policy.

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      AGMS 2025 & AGMA 2025 Conclude with Global Voices and Vision for a Sustainable Maritime Future

      July 5, 2025

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      Chennai, Tamil Nadu, India – Business Wire India The AMET Global Maritime Summit (AGMS) 2025 and the AMET Global Maritime Awards (AGMA) 2025, jointly organized by the Dr. J. Ramachandran Maritime Foundation and AMET University, successfully concluded on July 2, 2025, at the Anna Centenary Library Auditorium, Kotturpuram, Chennai. This flagship event convened over 1200 delegates from more than 15 countries, representing academia, industry, policy-making, and maritime leadership, underscoring its stature as a key international forum advancing maritime discourse, innovation, and sustainability.

      Summit Theme and Objectives The summit was held under the inspiring theme “Sailing Towards Sustainability – Navigating the Future of the Maritime Industry,” reflecting a collective commitment to addressing critical challenges facing the maritime sector. Key thematic areas included: • Green Shipping and alternative energy sources such as methanol and green hydrogen • Maritime Education and Training with emphasis on emerging skill sets and soft skills • Seafarer Wellbeing, including mental health and onboard safety • Digital Transformation with AI, automation, and smart maritime operations • Ocean Sustainability and alignment with United Nations Sustainable Development Goals (SDG 4: Quality Education and SDG 13: Climate Action) Inaugural Ceremony The event commenced with a traditional Tamil Thai Vazhthu invocation, establishing an atmosphere of respect and unity. The welcome address by Capt. K. Karthik, Principal of the AMET Institute of Science and Technology, emphasized the importance of bridging academic knowledge with practical industry needs, particularly in sustainability.

      Prof. Dr. V. Rajendran, Vice-Chancellor, introduced the dignitaries, followed by the presidential address of Dr. J. Ramachandran, Founder-Chancellor of AMET University. Dr. Ramachandran highlighted the university’s strategic partnerships, including the Maersk Centre of Excellence and a new collaboration with Arizona State University for joint UG and MBA programmes integrating maritime studies and AI.

      The Chief Guest, Capt. Mohan Naik, Director of Dynacom Tankers Management Pvt Ltd, underscored the imperative of embedding sustainability in every maritime operation—from ship recycling to autonomous navigation—and stressed mental health support as essential for seafarer wellbeing. He called upon maritime institutions to prepare cadets for rapidly evolving technologies and regulatory frameworks.

      As Guest of Honour, Capt. Karan Kochhar, Head of Marine People (Asia), Maersk Fleet Management, praised AMET’s legacy in training seafarers and highlighted the central role of people, especially young cadets, in driving sustainable maritime innovation. He urged the cadets to embody resilience and humility as future maritime leaders.

      A special address by Dr. Rajesh Ramachandren, President of AMET University and Chairman of the Foundation, emphasized the need for a balanced maritime future integrating technology, environmental stewardship, social inclusion, and international collaboration.

      A landmark moment was the signing of an MoU between AMET University and Arizona State University, launching joint academic initiatives such as integrated UG (4+1) degrees, dual-campus MBA programmes, and executive courses aimed at developing future-ready maritime professionals.

      The inaugural ceremony concluded with a vote of thanks by Dr. V. Sangeetha Albin, Registrar of AMET University, who expressed gratitude to all participants and partners.

      Panel Discussions and Technical Sessions AGMS 2025 featured a dynamic series of panel discussions and technical sessions designed to foster interdisciplinary dialogue: • Panel I: “Will Humanities and Soft Skills Training Result in More Competent Officers?” Moderated by Ms. Harjeet Kaur Joshi, former CMD of Shipping Corporation of India, this session highlighted how empathy, communication, and cultural sensitivity are essential leadership qualities. Panelists advocated integrating maritime psychology and environmental ethics into curricula to enhance crew welfare and operational effectiveness.

      • Panel II: “Legal Recourses for Harassment at Sea – A Case Study Approach” Led by advocate Ms. S. Priya of Venki’s Law, Mumbai, the discussion focused on harassment issues at sea, legal frameworks, and organizational responsibilities. Emphasis was placed on creating psychologically safe environments and enforcing comprehensive anti-harassment policies aligned with national and international maritime laws.

      • Panel III: “Can Social Media Save the Seas?” Moderated by C/E Sridhar V, CTO of Maritime EdTech Academy, this unique panel included four AMET cadets who debated the dual-edged impact of social media. They underscored its potential for raising awareness and improving communication while cautioning against misuse and advocating structured digital literacy in maritime training.

      Concurrent to the panels, four technical tracks addressed critical maritime domains: 1. Maritime Education for a Sustainable Future: Curriculum innovation, competency-based learning, and pedagogy evolution 2. Digital Transformation & Smart Maritime Operations: AI, digital twins, ship automation, and navigational technology 3. Innovation & Sustainability in Maritime Practice: Alternative fuels, carbon reduction, and green logistics 4. Blue Economy, Ocean Health & Policy Integration: Marine biodiversity, ocean governance, and India’s strategic maritime role Over 120 research papers and presentations were delivered, showcasing cutting-edge maritime scholarship and reinforcing AMET’s role as a knowledge hub.

      Valedictory Ceremony and AGMA Awards 2025 The valedictory session was graced by Mr. David Eggleston, Deputy Consul-General of Australia, Chennai, as Chief Guest. Presided over by Dr. Rajesh Ramachandren, the session included the welcome address by Dr. Deepa Rajesh, Vice President (Academics), AMET University.

      Dr. Rajesh Ramachandren’s valedictory address stressed the urgent need for technological upgradation to meet global maritime challenges and reaffirmed AMET’s commitment to producing highly skilled, resilient seafarers ready for future demands.

      Col. Dr. G. Thiruvasagam, Provost of AMET University, presented the Jury Report for AGMA 2025, highlighting a rigorous international selection process under the chairmanship of Prof. Gabriel Raicu (Romania) and Dr. Stephen Hurd (Australia). The awards recognize outstanding achievements in three categories: Individual, Institutional, and Startup/Innovation, judged on leadership, educational impact, innovation, and SDG alignment.

      Award Recipients: • AGMA Maritime Leadership Award (Founder-Chancellor Nomination): Capt. Anmol Kumar Srivastava, Jawaharlal Nehru Port Authority, Mumbai, honored for heroic rescue of 57 lives during the Mumbai ferry disaster.

      • AGMA Maritime Leadership Award: Dr. Boyan Kirilov Mednikarov, Bulgaria – For transformative leadership in naval education.

      • AGMA Young Maritime Leadership Award: Mr. R. S. Lakshmi Balaji, Chennai – For pioneering integration of technology in maritime training.

      • AGMA Maritime Excellence Award: Centro Universitario di Studi sui Trasporti Euromediterranei (CUST Euromed), Italy – Recognized for contributions to maritime education and sustainable logistics.

      • AGMA Maritime Innovation Award: Dr. Karthik Ramachandran, Chennai – For marine biotechnology innovations supporting sustainable aquaculture.

      The awards were presented by Mr. Eggleston, Prof. Adam Weintrit (Chair, IAMU), and Dr. J. Ramachandran.

      Mr. Eggleston lauded Capt. Srivastava’s bravery and highlighted growing India-Australia collaboration in maritime security, clean energy, and education.

      Conference Report and Best Paper Awards Dr. T. Sasilatha, AGMS 2025 Technical Coordinator, reported over 120 scholarly articles presented across the four technical streams. Best Paper Awards recognized exceptional research contributing to maritime knowledge and innovation.

      Closing Remarks Founder-Chancellor Dr. J. Ramachandran expressed deep appreciation to awardees, jurors, faculty, and organizers. He emphasized AMET’s vision of global maritime excellence rooted in sustainability, innovation, and social responsibility. He warmly congratulated Capt. Srivastava and urged continued nurturing of maritime leadership. Dr. Ramachandran also encouraged enhanced educational ties with Australia, citing ongoing collaborations with Monash University in AI and Data Science.

      The event concluded with a vote of thanks by Capt. V. Chandrasekar, Principal of AMET City College, followed by the national anthem.

      About the Organisers • AMET University is India’s first dedicated maritime university, renowned globally for maritime education, research, and international partnerships.

      • The Dr. J. Ramachandran Maritime Foundation advances maritime education, policy, innovation, and leadership through platforms like AGMS and AGMA.

      To View the Image, Click on the Link Below: Release of proceedings of the AMET Global Maritime Summit 2025 (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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