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    India’s Foreign Exchange Markets: Getting ready for the next Decade [Keynote Address delivered by Deputy Governor Shri Rohit Jain on the Annual Day ...
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August 21, 2026
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Foreign exchange market modernisation prioritises delegated decisions, customer transparency, digital workflows, local-currency settlement and accountable risk management.
Foreign exchange market modernisation advances a facilitative, principles-based framework based on delegated decision-making by Authorised Dealers, risk-based reporting, and customer-centric service standards. Authorised Dealers must apply clear internal policies, avoid unnecessary documentation, disclose charges, timelines and grievance mechanisms, and ensure consistent treatment of comparable transactions. Local-currency settlement requires viable trade corridors, competitive hedging, correspondent relationships and robust AML/CFT controls. Digital workflows, electronic trading and reporting infrastructure should improve transparency and resilience, while automated tools remain subject to explainability, review and data-protection safeguards.
August 21, 2026
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Sugar price containment measures restrict stockholding, permit duty-free imports, and strengthen inventory verification to deter hoarding.
Sugar price containment measures include stock limits for dealers, consumption-based inventory restrictions for bulk consumers, duty-free raw sugar imports, and physical verification of mill stocks to prevent hoarding and artificial scarcity. Price increases are attributed to lower domestic output, festive demand, crop damage, tighter global supplies, and speculation rather than sugar diversion for ethanol. Earlier crushing is advised to improve seasonal availability, while the ethanol programme supports management of sugar surpluses, mill liquidity, and timely sugarcane payments.
August 21, 2026
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Cross-border insolvency enforcement constrains asset recovery as Evergrande liquidation, founder asset confiscation, and audit-related claims continue.
Evergrande's insolvency process involves liquidation proceedings for its mainland property-development unit and its Hong Kong-listed holding company. Cross-border recovery is constrained by separate Hong Kong and mainland China legal systems, particularly because most operational assets are located in mainland China. Liquidators are pursuing asset-tracing and recovery measures against the founder and connected persons, as well as claims concerning pre-collapse audits. Investigations identified revenue overstatement through manipulated financial data. Creditor recoveries are expected to be limited due to substantial liabilities and constraints on asset realisation.
August 21, 2026
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Foreign exchange reserves rose through higher currency assets and gold holdings amid measures to attract external forex inflows.
India's foreign exchange reserves increased during the reporting week, led by higher foreign currency assets and gold reserves. Foreign currency assets include the dollar-value effects of movements in non-US currencies held as reserves. Special drawing rights declined marginally, while the reserve position with the International Monetary Fund increased marginally. Concessional swap arrangements formed part of measures to attract foreign-exchange inflows, while earlier reserve movements were linked to rupee pressure and dollar-sale intervention in the foreign-exchange market.
August 21, 2026
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Incremental tariff recovery aligns airport user charges with completed infrastructure, preventing passengers from funding non-operational capital projects prematurely.
User development fees and airport tariffs for Bengaluru International Airport have been revised for the April 2026 to March 2031 control period. The incremental Average Revenue Requirement framework excludes costs of identified high-value capital projects from tariffs until the relevant assets are completed, commissioned and available for users. Incremental tariff recovery may begin only upon operational availability, aligning charges with infrastructure use, reducing premature recovery risk for passengers and airlines, and encouraging timely completion of major capital works.
August 21, 2026
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Customer experience analytics enables banks to convert real-time feedback into operational improvements across high-value customer journeys.
Customer experience analytics is used in banking to transform customer data and real-time feedback into operational improvements across key customer journeys. Operational teams retain responsibility for strategy and execution, supported by in-house analytics and technology platforms for multi-channel journey mapping, journey analytics and prioritisation of high-value customer segments. AI-driven customer experience management tools capture customer signals, analyse journey performance and operationalise actionable insights across teams.
August 21, 2026
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Predicate-offence dependency limits retrospective addition of old FIRs to preserve money-laundering proceedings after the original scheduled offence is closed.
Predicate-offence dependency under the Prevention of Money Laundering Act requires an ECIR to rest on a subsisting scheduled offence. Closure of the FIR forming its basis through an accepted cancellation report prevents continuation of money-laundering proceedings unless that closure is overturned. A previously registered FIR cannot be belatedly added merely to preserve an existing ECIR and coercive powers. Where statutory requirements are met, an independently registered ECIR may be required. Expansion of an ECIR cannot rest solely on tenuous factual links between successive disputes.
August 21, 2026
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Indian rupee export invoicing rules now permit overseas contracts and invoices in rupees or foreign currency for eligible destinations.
Foreign Trade Policy provisions were amended to facilitate invoicing of overseas exports and receipt of export payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency, replacing the earlier general requirement that export earnings be received in a freely convertible currency. The applicable requirements vary according to the destination country.
August 21, 2026
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Dealer inventory financing supports working-capital flexibility, vehicle inventory management and electric-vehicle network expansion for authorised dealers.
Dealer inventory financing is to be provided by Federal Bank to VinFast India's authorised dealer network under a memorandum of understanding. The tailored financing is intended to improve dealers' working-capital flexibility, support maintenance of vehicle inventory, strengthen operational capability, and enable timely response to demand as the electric-vehicle distribution network expands.
August 21, 2026
Show AI Summary
Sugar supply pressures drive festive-season price increases as imports, stockholding limits and ethanol diversion shape market conditions.
Sugar prices in Bengal have risen sharply ahead of the festive season, with higher prices also affecting jaggery and other sugar-derived products. Supply constraints, mill stock releases, lower production in Brazil, ethanol diversion and possible hoarding have been identified as contributing factors. Raw-sugar imports have been permitted to augment availability, while stockholding restrictions limit inventories of specified bulk consumers. Lower projected closing stocks and possible future production effects from El Nino may sustain pressure on sugar availability and increase costs for sweetmeat producers.
August 21, 2026
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
The rupee strengthened marginally against the US dollar as the dollar index softened, but elevated crude oil prices, geopolitical uncertainty, reduced foreign participation and net foreign equity outflows constrained currency sentiment. RBI measures to attract foreign currency inflows, including FCNR(B) deposits, were expected to generate substantial inflows, although these had not produced meaningful rupee strength. Energy-market disruption and restrictions on fuel exports through the Strait of Hormuz added to external-sector pressures.
August 21, 2026
Show AI Summary
Sovereign security production priorities emphasise compliance, modernisation, employee innovation and operational excellence across currency, passport and coinage manufacturing.
SPMCIL performs a sovereign production mandate covering secure currency, coinage, passports and other products of national importance through its mints, currency presses, security presses and paper mill. Modernisation, compliance, transparency, efficiency, productivity, quality and corporate governance support the fulfilment of sovereign requirements. Individual employees and units were recognised for performance in productivity, environment and safety, energy conservation, knowledge and development, vigilance, and official-language implementation.
August 20, 2026
Show AI Summary
Customs enforcement against suspected gold smuggling leads to baggage seizure and apprehension of the alleged intended receiver.
Customs officers intercepted an arriving passenger at the green channel on intelligence inputs and examined baggage after X-ray screening indicated suspicious images. The examination recovered two oval capsules containing gold paste concealed in the baggage. Interrogation indicated that an alleged receiver was waiting outside the airport to collect the suspected smuggled gold. Customs officers apprehended the alleged receiver, and further investigation remains underway.
August 20, 2026
Show AI Summary
Provincial alcohol sales restrictions remain subject to economic impact assessment under proposed bilateral trade agreement negotiations.
Provincial control over alcohol distribution remains distinct from federal trade-making authority. Quebec retains authority over whether United States alcohol is offered through its government-controlled liquor distribution system, despite lacking a veto over a bilateral trade agreement. Federal requests to restore United States alcohol to retail shelves cannot compel provincial action. Proposed trade commitments also concern restrictions on United States agricultural products and Canada's dairy import regime, which applies lower tariffs within designated import volumes and higher duties beyond those volumes.
August 20, 2026
Show AI Summary
Electoral-roll verification found no reported cases of specified foreign nationals receiving identity-linked benefits or voter registration.
Electoral-roll special intensive revision recorded no reported cases of Pakistani, Bangladeshi or Iranian nationals obtaining Aadhaar cards, ration cards, other government benefits, or voter registration. Illegal immigrants are identified through police monitoring, intelligence measures, specialised operations and a Special Task Force. Overstayers are recorded through the District Police Module and Foreigners Identification Portal and produced before Foreigners Regional Registration Officer authorities. Persons found to be residing illegally are reported to the concerned central divisions, proceeded against through registered cases, retained pending case disposal and exit permits, and subjected to deportation steps.
August 20, 2026
Show AI Summary
Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
Raw sugar imports are permitted duty-free under a tariff rate quota until 31 October 2026, with online allocation to eligible millers and refiners having functional refining capacity. Applicants must provide a refining-capacity declaration and supporting Consent to Operate; preference applies to importers undertaking timely completion of imports, while non-utilisation or failure to surrender allocations constitutes non-compliance. Bulk sugar consumers meeting the prescribed consumption threshold are subject to a stock cap of 15 days' consumption from 1 September to 30 November 2026.
August 20, 2026
Show AI Summary
Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
Show AI Summary
Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
Show AI Summary
India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.

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News and Press Release

India Witnesses 44% Surge in IP Filings Over Five Years, Driven by Key Policy Reforms and Digitization

July 22, 2025

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Geographical Indications See 380% Growth; Government Strengthens Protection of Indigenous Products

Startups, MSMEs, and Educational Institutions Benefit from Major IP Fee Concessions and Expedited Services

95% of IP Filings Now Online as Ministry Modernizes and Digitizes IP Ecosystem

NIPAM Reaches Over 25 Lakh Students; Ministry Deepens IP Awareness Across All States and UTs

Details of the total number of IP applications filed in India over the last five years by Indian citizens are provided in the table below:-

IP/ FY

Patents

Designs

Trade Marks

Copyright

GI

SICLD

2020-21

24,326

10,594

4,18,594

23,957

57

5

2021-22

29,508

19,245

4,34,084

30,748

116

2

2022-23

43,301

18,170

4,53,325

29,439

210

8

2023-24

51,574

26,536

4,63,108

36,710

134

2

2024-25

68,176

38,804

5,38,665

44,066

274

6

IP filings in the last five years have increased by44%, rising from 4,77,533 in 2020–21 to 6,89,991 in 2024–25. The highest growth was observed in Geographical Indications (GI) with a 380% increase, followed by Designs (266%), Patents (180%), Copyright (83%), Trademarks (28%), and Semiconductor Integrated Circuits Layout-Designs (SICLD) with a 20% rise.

The Government has undertaken several initiatives to enhance intellectual property (IP) activities and foster innovation and boost IP filing in India. Details of the major steps are as follows:

IP laws and rules have been amended to streamline and simplify the processing of IP applications, eliminate irregularities and bottlenecks, enhance the use of IT and digital technologies:

Patents

  • Timelines have been fixed and streamlined
  • Electronic submission of documents by patent agents has been mandatory. 
  • 10% less fees for online filing of application and documents
  • Requirements for filing priority documents and Form 27 (statement on the working of patents) have been simplified.
  • The time to submit request for examination has been reduced to 31 months from 48 months to fast-track the patent examination process.
  • ·Frequency to file ‘working statements of patents’ has been reduced from once in a year to once in every three years to lessen the administrative burden and compliance costs on the applicants.
  • The requirements and timelines for providing foreign filing details have been streamlined to simplify the patent application process, further reducing processing requirements and costs.
  • The procedure for filing and resolving pre-grant representations has been amended to curb frivolous opposition filings and promote genuine submissions. The amended pre-grant opposition procedure now requires a prima facie case for the opposition to proceed. Provisions for expedited examination are extended to applications with pre-grant opposition(s) to compensate for delays arising from pre-grant proceedings and ensure faster resolution of such cases.
  • Provisions for claiming benefits of Grace Period have been streamlined by incorporating a new form to make it easier for applicants to claim benefits of the grace period.
  • ‘Certificate of Inventorship’ has been introduced to enhance patenting ecosystem in India by formally recognizing efforts of the inventors in the patented inventions.
  • 10% reduction in the official fee for patent renewal is available if the fees for at least four years are paid in advance through electronic mode.

Trade Marks

  • Processing of Trade Mark applications has been simplified and streamlined.
  • 74 forms have been replaced with 8 consolidated forms.
  • Process for determination of well-known mark has been laid out.
  • Express provision for filing applications for sound marks has been provided.
  • Procedures relating to registration as Registered User of trademarks have been simplified.

Designs

  • Processing of design applications has been streamlined.
  • International classification under Locarno Agreement has been adopted.

Copyright

  • Compliance requirements for the registration of software have been reduced.
  • Functioning of copyright societies has been made more accountable and transparent.

 Geographical Indications

  •  Procedure for registration of Authorized User has been simplified.

Significant Fee Concessions have been given to Startups, MSMEs, and Educational Institutions

·         80% Fee Reduction in Patents for Startups, MSMEs, and Educational Institutions;

·         75% Fee Reduction in Designs for Startups, and MSMEs;

·         50% Fees Reduction for Trade Marks filing for Startups and MSMEs

Provisions for Expedited Examination have been introduced

  • Provision of Expedited Examination of Patent application has been introduced for Startups, MSMEs, Female Applicants, and Government Institutions/ Departments/ PSUs, applicants electing India an authority for international applications etc. under Rule 24(C) of Patents rules, 2003 (as amended).
  • Provision of Expedited Examination of Trade Mark applications is applicable to all category of the applicants

The ‘Certificate of Inventorship’ has been introduced in Patents to formally recognize the contributions of inventors in patented inventions and to incentivize innovation.

Modernization of IP Offices

IP Offices have been digitized and made online to make the system more compact, time bound, transparent and easier to use by applicants as well as Examiners and Registrars/ Controllers. Comprehensive E-Filing System has been introduced for the online filing and submission of Patent, Design, and Trade Mark applications and documents . Applicants no longer need to visit the IP office for filling and processing of their applications, with more than 95% of Patent and Trademark applications now filed online.

  • General features of Online Filing & Processing System:
  •  24x7 accessibility
  • Secure and user-friendly interface for filing IP applications
  • Availability of both e-Sign and Digital Signature Certificate (DSC) options 
  • Real-time status tracking of applications
  • All major communications are made through auto generated e-mails
  • Certificates of grant of patents are delivered online and can also be downloaded online.
  • Applicants can attend hearing via video conferencing, thereby avoiding physical appearance before the officers handling their applications.
  •  Examination of the applications in the office is also handled via an e- processing system
  • SMS Alert Facility

The IP Office website has been redesigned to improve contents and ease of access and make it more interactive, informative and easy to navigate. IP data on real-time basis has been made available on the website in respect of filing and processing of IP applications. The website provides login-free Search facility for hassle-free dissemination of IP information to stakeholders.

IP Dashboard Access and Features

A publicly accessible IP Dashboard has been introduced to provide real- time comprehensive data on various categories of Intellectual Property applications, including Patents, Designs, Trade Marks, Copyrights, and Geographical Indications. The dashboard can be accessed via the official website at ipindia.gov.in/dashboard. A quick-access link to the dashboard is also available on the website's homepage for user convenience.

AI-powered Trademark Search Technology: Artificial Intelligence (AI) and Machine Learning (ML) based Trademark Search Technology has been introduced for a more efficient and accurate examination and faster disposal of Trade Mark applications.

 IP Sarthi Chatbot: A digital assistant has been designed to provide instant support and guidance to users navigating the IP registration processes. Indian small businesses can get instant help regarding IPR by asking answers of the questions on the Chatbot.

“WIPO IP Diagnostics – Indian Adaptation”, a self-assessment tool, has been designed to enable small businesses to conduct a self-assessment of their intellectual property (IP) assets, providing guidance tailored to the Indian IP laws and procedures and enriched with local examples. By answering targeted questions, Indian small businesses can generate customized reports that offer insights into how India's IP system can support their strategic business objectives. For wider coverage, the tool has been made available multiple languages, English, Bengali, Hindi, Tamil, and Urdu.

National Intellectual Property Awareness Mission (NIPAM) – The Office of the Controller General of Patents, Designs & Trade Marks (CGPDTM) implements the National Intellectual Property Awareness Mission (NIPAM) to conduct IP awareness programs in educational institutions. Launched in 2021, the mission aimed to educate 1 million students as part of the Azadi Ka Amrit Mahotsav, celebrating 75 years of India's Independence. So far, about 9500 IP awareness programs have been conducted across all 28 states and 8 Union Territories, reaching over 25 lakh students and faculty.

National Intellectual Property (IP) Awards are conferred every year to recognize and reward the top achievers comprising individuals, institutions, organizations and enterprises, for their IP creations and commercialization, in order to encourage creativity and innovation in the country.

IPR Internship Programme

With the aim of contributing to the fulfillment of the objectives outlined in the National IPR Policy, the Office of the Controller General of Patents, Designs and Trade Marks (CGPDTM) has recently started four week IPR Internship Programme for students, research scholars, and professionals.

SIPP Scheme: SIPP Scheme: The Start-Ups Intellectual Property Protection (SIPP) scheme was launched in 2016 to provide pro bono facilitation to startups for the filing and processing of patent, trademark, and design applications. Under this scheme, the Office of the Controller General of Patents, Designs & Trade Marks (CGPDTM) bears the professional fees payable to facilitators. Its scope was also expanded to benefit Indian educational institutions using TISC services. Additionally, it now covers the filing of international patent applications filed in India.

Manpower Augmentation

Manpower in IP Office has been augmented multiple times to ensure timely and quality service to the stakeholder.

Sanctioned strength of the Patent Office has increased by 233%, from 431 in 2014 to 1,433 in 2024. Similarly, the working manpower has grown by 196%, from 281 in 2014 to 833 in 2024.

Similarly, 200 additional posts have been sanctioned in 2025 in Trade Marks, GI, and Copyright, making a 74% increase in the sanctioned strength.

Robust Grievance Redressal Mechanism: The IP Office has robust Redressal Mechanism which has been further strengthened to ensure the prompt, fair, and transparent resolution of complaints and concerns. Daily Open House Conference has been started to enable direct daily communication of stakeholders with senior officers to provide timely solutions to their problems and Open House IT Helpdesk has been created as a single- window platform to swiftly address queries and grievances across all key areas of Intellectual Property.

From 2004 to 2025, the registration of Geographical Indication (GI) applications in India exhibited a gradual increase, with domestic applications constituting the majority. Initial years showed a low registration trend, followed by steady growth and stabilization between 2010 and 2019, averaging around 20–30 applications annually. The COVID-19 pandemic led to a sharp decline in GI registrations during 2020–21. However, this was promptly followed by a significant surge in applications from 2022 onwards, peaking 160 applications in 2023–24 the highest recorded in a year.

This overall trend reflects growing awareness and emphasis on protecting local products through GI registration. The increasing domestic engagement with GI protections is likely driven by government initiatives and greater recognition of the economic and cultural value of GIs.

Total Geographical Indications Registered as on Date: 697

State-wise Number of GI tags issued till date: List attached as Annexure.

This information was given by the Minister of State for Ministry of Commerce & Industry, Shri Jitin Prasada, in a written reply in the Lok Sabha today.

ANNEXURE

ANNEXURE REFERRED TO IN REPLY PART (d) OF THE LOK SABHA UNSTARRED QUESTION NO. 293 FOR ANSWER ON 22ND  JULY, 2025.

Year wise Registered GI Applications as on date

Financial

Years

Indian

Applications

Foreign

Applications

No of

Applications

2004 – 2005

03

00

03

2005 – 2006

24

00

24

2006 – 2007

03

00

03

2007 – 2008

31

00

31

2008 – 2009

45

00

45

2009 – 2010

13

01

14

2010 – 2011

25

04

29

2011 – 2012

20

03

23

2012 – 2013

20

01

21

2013 – 2014

22

00

22

2014 – 2015

20

00

20

2015 – 2016

26

00

26

2016 – 2017

31

02

33

2017 – 2018

24

02

26

2018 – 2019

22

01

23

2019 – 2020

21

01

22

2020 – 2021

05

00

05

2021 – 2022

36

14

50

2022 – 2023

50

05

55

2023 – 2024

157

03

160

2024 - 2025

60

02

62

Totals

658

39

697

Goods wise Registered GI Applications as on date

SL.

No

Goods

No of

Applications

1

Handicraft

366

2

Agricultural

218

3

Manufactured

54

4

Food Stuff

56

5

Natural

03

Totals

697

Goods wise Registered GI Applications Indian & Foreign as on date

SLo

Goods

Indian

Applications

Foreign

Applications

Total

Applications

1

Handicraft

365

01

366

2

Agricultural

218

00

218

3

Manufactured

22

32

54

4

Food Stuff

50

06

56

5

Natural

03

00

03

 

Totals

658

39

697

State wise - Details of GI Applications Registered as on date

SL No.

State

Registered

1

Andaman & Nicobar (UT)

7

2

Andhra Pradesh

19

3

Arunachal Pradesh

19

4

Assam

40

5

Bihar

16

6

Chandigarh

0

7

Chattisgarh

7

8

Goa

10

9

Gujarat

28

10

Haryana

0

11

Himachal Pradesh

10

12

Jammu & Kashmir

24

13

Jharkhand

1

14

Karnataka

45

15

Kerala

37

16

Ladakh (UT)

4

17

Lakshadweep (UT)

0

18

Madhya Pradesh

21

19

Maharashtra

52

20

Manipur

6

21

Meghalaya

8

22

Mizoram

7

23

Nagaland

4

24

Odisha

26

25

Pondicherry

2

26

Punjab

0

27

Rajasthan

20

28

Sikkim

1

29

Tamil Nadu

69

30

Telangana

18

31

Tripura

4

32

Uttar Pradesh

76

33

Uttarakhand

26

34

West Bengal

34

35

Dadra and Nagar Haveli

0

36

India (In Multiple States)

17

37

Foreign

39

 

Totals

697


(Release ID: 2146928)

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