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    Drill, Baby, Drill: India to fund Rs 650 cr per well for 60 deepsea wells to break its oil import habit
    Punjab GST revenue rises 20 pc to Rs 10,447 crore in April-July: Cheema
    India-China trade through Shipli La resumes after six years
    Odisha's export can reach USD 50 billion by FY 2029-30: Study
    Andhra records 21 per cent growth in net GST collections till July
    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
    Gross and Net GST revenue collections for the month of July, 2026
    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
    Gross GST collection kitty swells 15.4 pc to over Rs 2.11 lakh cr in July
    RBI says USD 40.82 bn mobilised under forex swap facility till Jul 31
    Sebi bars ZEEL for 2 months, Subhash Chandra, Punit Goenka for 1 year in Hyderabad land pledge case
    Department of Commerce Holds Workshop on Trade and Sustainable Development Policy Landscape
    GeM Launches 10-Day Celebrations Ahead of 10th Foundation Day, Unveils Commemorative Logo
    All Indian exports of dual-use items comply with international obligations: MEA
    PM Modi to inaugurate Bhogapuram Airport in Andhra on Aug 1
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    Closely monitoring: India on US bill seeking up to 100 % tariffs on purchasers of Russian oil
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    August 2, 2026
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    Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
    The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
    August 1, 2026
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    GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
    Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
    August 1, 2026
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    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
    August 1, 2026
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    Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
    Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
    August 1, 2026
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    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
    GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
    August 1, 2026
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    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
    Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
    August 1, 2026
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    PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
    PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
    August 1, 2026
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    Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
    Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
    August 1, 2026
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    GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
    GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
    August 1, 2026
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    Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
    Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.
    August 1, 2026
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    GST collection growth in West Bengal continued year-on-year in July but remained below the national growth trend.
    West Bengal's July GST collection increased year-on-year and over the preceding month, marking a second consecutive month of annual growth. Official data also indicated that the State's annual growth rate was below the national trend, while gross domestic GST revenue excluding imports and overall gross GST collections including import-related taxes rose nationally during July.
    August 1, 2026
    Show AI Summary
    GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
    Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
    August 1, 2026
    Show AI Summary
    Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
    The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
    August 1, 2026
    Show AI Summary
    Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
    Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.
    August 1, 2026
    Show AI Summary
    Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
    Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.
    August 1, 2026
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    Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
    Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
    July 31, 2026
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    Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
    Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
    July 31, 2026
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    Greenfield airport development under a public-private partnership advances licensed international passenger, cargo, logistics, and sustainable infrastructure.
    A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.
    July 31, 2026
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    Regulatory and legal developments cover trade measures, legislative action, offshore exploration support, court directions and platform algorithm scrutiny.
    The compilation reports proposed United States tariff measures concerning purchasers of Russian oil and gas, India-United Kingdom trade engagement, extension of farmer-support measures, and approval of offshore exploration support. It also covers passage of the Registration of Births and Deaths (Amendment) Bill, 2026, a privilege-motion notice, a criminal sentencing, and directions to appoint a nodal officer for families affected by the Russia-Ukraine war. Regulatory items include industrial credit data and examination of social-media algorithms, bias and public-order implications.
    July 31, 2026
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    Russian oil purchases may trigger proposed targeted tariffs, with periodic reassessment based on countries' purchasing behaviour.
    Proposed United States measures would authorise sanctions against Russia and persons supporting its war in Ukraine, while permitting targeted tariffs on imports from countries purchasing substantial volumes of Russian oil or gas or facilitating sanctions evasion. The framework identifies major purchasers and shadow-fleet facilitators for possible additional tariffs and provides for periodic reassessment and tariff adjustments based on purchasing behaviour. India stated that its energy-security policy rests on national priorities and diversified energy sources.

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      VARSHNE B, RADHESH AGRAHARI, RISHABH KUMAR ANNOUNCED AS FINALISTS OF INDIA JURY 2025 FOR INDIA’S BIGGEST SUSTAINABILITY AWARD – THE R|ELAN CIRCULAR DESIGN CHALLENGE (CDC)

      July 15, 2025

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      ORGANISED BY RELIANCE INDUSTRIES LIMITED’S - R|ELAN IN PARTNERSHIP WITH THE UNITED NATIONS IN INDIA AND LAKMĒ FASHION WEEK National, July 15th 2025: Varshne B, Founder of CRCLE; Radhesh Agrahari, Founder of Golden Feathers; and Rishabh Kumar, Founder of Farak, have been declared as the finalists of the India Jury Meet for R|Elan’s Circular Design Challenge (CDC) in Mumbai.

      Originating in India the CDC Award is a global activation aimed at empowering young fashion designers and entrepreneurs to showcase their circular innovations. With a focus on nurturing environmental champions, the platform promotes sustainable practices in the fashion and textile value chain. Through mentorship, market access and promotion, the program propels the next generation of leaders who are redefining the industry's approach to circularity. This partnership demonstrates how industry, the fashion eco-system and multilateral organisations such as the UN can come together to effect catalytic change towards circularity and sustainable thinking.

      Proudly presented by R|Elan, the next-generation fabric brand of Reliance Industries Limited (RIL), in partnership with the United Nations in India and Lakmē Fashion Week, the R|Elan Circular Design Challenge (CDC) is committed to reducing waste and fostering a greener, more sustainable future.

      Varshne B, Founder of CRCLE CRCLE is a forward-thinking fashion and lifestyle brand rooted in the principles of circularity and sustainability. With a 360-degree approach to responsible production, the brand integrates circular design thinking at every stage—from concept to end-of-life. CRCLE’s product development focuses on versatility, durability, and minimal waste, using innovative materials such as Weganool, banana leather, stainless steel scraps, and post-consumer fabrics. Each element, including tags made from recycled cotton rags and reused trims, is intentionally designed to reduce environmental impact. More than a brand, CRCLE represents a system-wide shift towards regenerative, thoughtful fashion that aligns creativity with ecological responsibility.

      Radhesh Agrahari, Founder of Golden Feathers Golden Feathers is a circular social enterprise that transforms chicken feather waste into the world’s 6th natural, biodegradable woolen fiber. With sustainability at its core, the brand uses a patented 27-step natural sanitization process to produce eco-friendly textiles and wood-free paper through a zero-waste, chemical-free model. Merging indigenous craft with scientific innovation, Golden Feathers creates durable, compostable products rooted in cultural heritage and environmental responsibility.

      Rishabh Kumar, Founder of Farak Rooted in traditional Indian craftsmanship, the Farak works with rural artisans to create sustainably made pieces using handspun, handwoven organic cotton and natural dyes. It revives age-old techniques like block printing with century-old wooden blocks, passed down through generations. All products are crafted without electricity, ensuring a zero-carbon footprint. Farak uses 100% biodegradable and compostable packaging materials like Kraft paper and wood pulp.

      Mr. Rakesh Bali, Senior Vice President and Head of Marketing at Reliance Industries Limited commented: "Congratulations to the finalists - Varshne B, Radhesh Agrahari, Rishabh Kumar of the India Jury Meet of the R|Elan Circular Design Challenge. This platform, born in India and now global in its reach, reflects our deep commitment at Reliance to nurturing a new generation of changemakers—designers and entrepreneurs who are not only creative but also conscious. Through the Circular Design Challenge, we aim to foster innovation rooted in sustainability, waste reduction, and circularity. It’s heartening to see such incredible talent from our country take up the mantle of building a greener fashion future. We are proud to support this movement that brings together industry, multilateral partners, and the design community to drive meaningful, lasting change.” Mr. Jaspreet Chandok, Group Vice President, Reliance Brands Limited, added: “The Circular Design Challenge is more than a platform—it is a movement that’s reshaping the foundation of fashion by prioritising sustainability, innovation, and cultural consciousness. At Reliance, we are proud to support initiatives that not only spotlight Indian creativity on the global stage, but also push the industry forward towards responsible design thinking. Congratulations to the finalists - Varshne B, Radhesh Agrahari, Rishabh Kumar who continue to inspire a future built on purpose, progress, and planet-positive action.

      The India Jury meet brought together a dynamic mix of creative and conscious minds shaping the future of fashion and sustainability. The panel featured industry leaders across fashion, media, business, and advocacy, including: Mehernaaz Dhondy, Editor-in-Chief at Grazia India; Isha Bhansali, Fashion Stylist & Consultant; Dia Mirza, Actor, Producer, Eco Investor, UNEP Goodwill Ambassador and SDG Advocate; Karishma Shahani Khan, Creative Director of Ka-Sha and CDC Design Mentor; Pranav Khanna, Circular Business Advisor & CDC Business Mentor; Rakesh Bali, Senior VP & Head of Marketing at RIL; and Darshana Gajare, Head of Sustainability at Lakme Fashion Week. Together, they evaluated collections through a well-defined lens of innovation, circularity, material exploration, social impact, and alignment with the UN Sustainable Development Goals.

      This competition will culminate at the upcoming edition of Lakmē Fashion Week in partnership with the Fashion Design Council of India (FDCI) in October. Varshne B, Founder of CRCLE; Radhesh Agrahari, Founder of Golden Feathers; and Rishabh Kumar, Founder of Farak, will join the finalists of the EU, APAC, and UK Jury Meets to participate in the finals, curating an international platform for sustainable fashion design talents worldwide. The winner of the R|Elan Circular Design Challenge (CDC) will be bestowed with a seed fund of INR 15L, the CDC Trophy, and a 6-month bespoke mentorship with Orsola De Castro & the team at Estethica.. Additionally, they will earn the spotlight with a standalone showcase at Lakmē Fashion Week x FDCI in March 2026.

      The R|Elan Circular Design Challenge's global reach is a milestone and a remarkable step towards a more sustainable and circular fashion industry.

      (Disclaimer: The above content is a press release and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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