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    Keralam CM flags off containers from Vizhinjam, marking start of EXIM operations
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August 18, 2026
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EXIM operations at Vizhinjam commence with container movement, supported by investor facilitation, infrastructure backing and port-led logistics development.
EXIM operations at Vizhinjam international seaport commenced with the flagging off of two containers after a successful trial export shipment. The state government proposes investor engagement, regulatory facilitation and infrastructure support to expand global export activities through the port. Mission Samudra is to operate as a port-led industrial and logistics development scheme. The deep-water port was developed under a public-private partnership model and had received commercial commissioning certification.
August 18, 2026
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Money-laundering investigation under PMLA expands through searches into alleged consultancy payments linked to CMRL and Exalogic Solutions.
Money-laundering investigation under the Prevention of Money Laundering Act involves fresh searches connected with Cochin Minerals and Rutile Ltd and Exalogic Solutions. The inquiry concerns alleged fraudulent payments made under the guise of IT consultancy services and a purported money trail involving persons allegedly connected with those transactions. The action follows earlier searches and questioning in relation to the same matter.
August 18, 2026
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Recruitment examination irregularities trigger money-laundering investigation into alleged bribery, paper leaks, answer-sheet tampering, and preferential veterinary officer selections.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in veterinary officers' final selection through a public recruitment examination. Searches covered premises linked to commission officials, alleged intermediaries, the digital evaluation entity, and selected candidates. Allegations include bribery demands, examination-paper leakage, OMR answer-sheet tampering, and facilitation of selection for relatives of commission officials.
August 18, 2026
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Export-import operations advance through operational preparedness review and planned port-led industrial and logistics development initiatives.
Operational preparedness for full land-based export-import operations at Vizhinjam Seaport was reviewed, including the Vehicle Traffic Management System. EXIM cargo operations follow a trial shipment of the port's first export container to Valencia. Mission Samudra is proposed to support port-led industrial and logistics development alongside these operations. The deep-water port was developed through a public-private partnership model and had obtained commercial commissioning certification before its dedication to the nation.
August 18, 2026
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Industrial corridor development prioritises empowered SPVs, integrated infrastructure and investor-ready parks to accelerate manufacturing investment and operations.
National Industrial Corridor Development Programme implementation prioritises timely infrastructure completion, land allotment, investment mobilisation and commencement of manufacturing. PM GatiShakti-aligned planning requires integrated connectivity, utilities and social infrastructure, while States should resolve land, clearance and SPV-power bottlenecks. BHAVYA proposes investment-ready, plug-and-play industrial parks appraised for ready land, credible demand, connectivity, utilities, realistic phasing and early investor attraction. NICDIT routes Government participation and equity support for BHAVYA project SPVs, and NICDC coordinates implementation and monitoring.
August 17, 2026
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RERA compliance exemption for stalled housing projects raises whether statutory obligations may be waived to enable phased project completion.
RERA compliance exemption is sought for completion of 16 stalled residential projects by a public sector construction entity appointed under a project-completion arrangement. The appellate insolvency tribunal declined to direct a waiver, considering itself incompetent to exempt compliance with statutory provisions. The arrangement requires phased completion, award and commencement of construction work, and oversight through an apex committee and project-wise committees. The projects remain incomplete owing to the developer's financial crisis.
August 17, 2026
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Deposit mobilisation and youth banking guide strategies for stronger public financial institutions, investment financing and Global Capability Centre opportunities.
PSB Confluence 2026 considers strategic priorities for Public Sector Banks and Public Financial Institutions across deposit mobilisation, banking for youth, investment-cycle financing and Global Capability Centres. Discussions seek practical, scalable strategies to strengthen customer engagement, youth-responsive banking propositions, institutional financing capabilities and participation in the expanding Global Capability Centre ecosystem. Youth engagement may use the MY Bharat platform to strengthen links with the formal financial system and awareness of education finance, entrepreneurship, internships and financial-sector careers. Further themes include value-chain infrastructure, priority sector lending and credit card business reform.
August 17, 2026
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Banking-sector reform will guide lender capacity, financial stability, inclusion, consumer protection, deposit growth and responsible credit-card expansion.
Banking-sector reform is proposed through a high-level committee on Banking for Viksit Bharat to review the sector and align it with growth needs while safeguarding financial stability, financial inclusion and consumer protection. Key themes include deposit mobilisation, youth banking, investment support, global capability centres, value-chain infrastructure, credit cards and priority-sector lending. Public-sector banks are expected to improve competitiveness through technology, sectoral expertise, product adaptation and customer-focused deposit growth. Credit-card development must maintain responsible underwriting, customer protection and appropriate risk controls.
August 17, 2026
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FCNR(B) concessional swap facility availability narrows to timely mobilised deposits amid rupee depreciation and foreign currency inflow concerns.
Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.
August 17, 2026
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Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
August 17, 2026
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Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
August 17, 2026
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SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
August 17, 2026
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FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
August 16, 2026
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Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
August 16, 2026
Show AI Summary
Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.
August 16, 2026
Show AI Summary
Electric vehicle export diversification strengthens India's presence across European, Asia-Pacific and Latin American markets through expanding overseas demand.
India's electric motor car exports expanded sharply in the first quarter of 2026-27, reflecting increased international acceptance and competitiveness of India-manufactured electric vehicles. Europe became the principal export destination, led by Spain and the United Kingdom, with further demand across several European markets. Exports also reached Asia-Pacific markets, Nepal and emerging Latin American destinations. This wider market presence reflects improving quality and safety standards, stronger integration into global electric-vehicle supply chains, and diversification of India's electric-vehicle export profile.
August 16, 2026
Show AI Summary
LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
August 16, 2026
Show AI Summary
Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
August 15, 2026
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Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
August 15, 2026
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Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.

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Customs & Trade

Britain's prime minister presses Trump on 'desperate' situation in Gaza during meeting in Scotland

July 28, 2025

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Edinburgh, Jul 28 (AP) US President Donald Trump met on Monday at one of his Scottish golf courses with British Prime Minister Keir Starmer, who pressed him on the US taking a larger role in helping quell a growing food crisis in Gaza amid Israel's ongoing war with Hamas in the territory.

Starmer and his wife, Victoria, arrived at Trump's Turnberry course on the southern coast, and the Republican president spent several minutes chatting with them and proudly pointing out key aspects of the property. But the prime minister didn't wait until they were inside to insist that Gaza would be a key topic in their meeting, calling what's occurring there “a desperate situation.” Trump was asked if he agreed with Israeli Prime Minister Benjamin Netanyahu's remarks about concerns of mass starvation in Gaza being overstated and replied, “I don't know. I mean, based on television, I would say not particularly because those children look very hungry.” Starmer was far more forceful: “I think people in Britain are revolted at seeing what they are seeing on their screens.” Trump said Israel “has a lot of responsibility” for what's happening but said the country is hampered by considerations of the remaining hostages it wants to see kept alive and freed.

“I think Israel can do a lot,” Trump said, without offering more information.

Trump has multiple Scottish golf courses The prime minister is meeting with Trump at Turnberry but also plans to travel north, to outside Aberdeen, where the president's family has a second golf course and is holding a ribbon-cutting for a third one on Tuesday.

The events allow Trump to try and make good on a post from his first term in 2019, when he wrote of his Turnberry property, “Very proud of perhaps the greatest golf course anywhere in the world. Also, furthers UK relationship!” Starmer is famously not a golfer, but toggling between Trump's Scottish courses shows the outsized influence the president puts on properties bearing his name — and on golf's ability to shape geopolitics.

Still, Monday's talks also covered far more serious issues.

The prime minister wants Washington's help in convincing Israel to allow more aid into Gaza and attempting to end what Downing Street called “the unspeakable suffering and starvation” while pushing for a ceasefire.

Britain, along with France and Germany, has criticized Israel for “withholding essential humanitarian assistance” as hunger spreads in Gaza. Over the weekend, Starmer said Britain will take part in efforts led by Jordan to airdrop aid after Israel temporarily eased restrictions.

But British Business Secretary Jonathan Reynolds acknowledged Monday that only the US has “the leverage” to make a real difference in the conflict. Trump spoke before the meeting with Starmer about wanting to help starving children, but he has also repeatedly complained about the US not getting enough credit for organizing past food aid into Gaza.

“Nobody said even thank you,” he said. “Somebody should say thank you.” Palestinian state questions and Ukraine also being discussed Starmer is under pressure from his Labour Party lawmakers to follow France in recognizing a Palestinian state, a move both Israel and the U.S. have condemned. The British leader says the U.K. supports statehood for the Palestinians but it must be “part of a wider plan” for a two-state solution to the Israel-Palestinian conflict.

Trump, however, said Monday of Starmer doing so, "I don't mind him taking a position.” Also on Monday's agenda are efforts to promote a possible peace deal to end fighting in Russia's war with Ukraine, particularly trying to force Russian President Vladimir Putin to the negotiating table within a 50-day window Trump set earlier this month.

Trump said before the meeting with Starmer that he'd work to reduce the “50 days to a lesser number" and urged Russia to agree to a deal.

Trump in the past sharply criticized Ukrainian President Volodymyr Zelenskyy for also failing to express enough public gratitude toward U.S. support for his country, taking a similar tack he's now adopting when it comes to aid for Gaza. The president, though, has shifted away from that tone and more sharply criticized Putin and Russia in recent weeks.

Trump's new golf course near Aberdeen opens to the public on Aug. 13 and tee times are already for sale — with the course betting that a presidential visit can help boost sales. Protesters have planned a demonstration in Balmedie, near Trump's existing Aberdeen golf course. That follows protests across Scotland on Saturday decrying the president's visit as he was out golfing.

Refining past trade agreements While China initially responded to Trump's tariff threats by retaliating with high import taxes of its own on US goods, it has since begun negotiating to ease trade tensions. Starmer and his country have taken a far softer approach.

He's gone out of his way to work with Trump, flattering the president repeatedly during a February visit to the White House, and teaming up to announce a joint trade framework on tariffs for some key products in May.

Starmer and Trump then signed a trade agreement during the G7 summit in Canada that freed the UK's aerospace sector from US tariffs and used quotas to reduce them on auto-related industries from 25 per cent to 10 per cent while increasing the amount of US beef it pledged to import.

“The UK is very well-protected. You know why? Because I like them — that's their ultimate protection,” Trump said of US tariff policy during the G7.

Discussions with Starmer follow a Trump meeting Sunday with European Commission chief Ursula von der Leyen at his Turnberry course. They announced a trade framework that will put 15 per cent tariffs on most goods from both countries, though many major details remain pending.

The president has for months railed against yawning US trade deficits around the globe and sees tariffs as a way to try and close them in a hurry. But the US ran an USD 11.4 billion trade surplus with Britain last year, meaning it exported more to the UK than it imported. Census Bureau figures this year indicate that the surplus could grow.

There are still lingering US-Britain trade issues that need fine-tuning. The deal framework from May said British steel would enter the US duty-free, but it continues to face a 25 per cent levy.

UK Business Secretary Jonathan Reynolds said Monday that “negotiations have been going on on a daily basis” and “there's a few issues to push a little bit further today,” though he downplayed expectations of a resolution.

The leader of Scotland, meanwhile, has urged Trump to lift the current 10% tariff on Scotch whisky. First Minister John Swinney said the spirit's “uniqueness” justified an exemption. (AP) RD RD

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