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    NATIONAL ACCOUNTS STATISTICS - 2026 PUBLICATION
    Commerce Secretary Shri Rajesh Agrawal Co-Chairs India-Brazil 8th Trade Monitoring Mechanism Meeting
    NPCI International and Uzbekistan’s NIPC Partner to Enable UPI Payments Across Uzbekistan via UZQR
    Flymore Aviation Expands Access to Aviation Education Through Affordable Mobile Learning App
    Rajnath to review performances of 16 defence PSUs with focus on indigenous tech, innovation
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    India Has Solved Financial Access. Has It Solved Financial Confidence?
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    Pinarayi Vijayan slams NCLT order on Subhash Chandra repayment plan
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    CBN seizes 66.80 lakh psychotropic tablets in major inter-state pharmaceutical diversion case under Operation Vajra 2.0; one arrested
    DRI seizes around 18 Kg Amphetamine and MDMA in two operations as it intensifies crackdown on synthetic drugs; Four persons arrested
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    Over 2.63L appear in NEET-PG; re-test announced for candidates at 2 Jaipur centres
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    India emerges as key petrol supplier to Russia as refinery attacks disrupt fuel supplies
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August 31, 2026
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National accounts revisions align GDP and sectoral estimates with updated price, production and banking service indicators.
National Accounts Statistics-2026 incorporates updated Producer Price Index, Index of Industrial Production and Banking Services Price Index series with base year 2022-23 into annual and quarterly GDP estimates. The revised indicators expand coverage, update weights and improve price mapping for national-account activities. GDP and gross value added estimates from 2022-23 onwards are revised at current and constant prices, with sector-specific effects in mining and quarrying, manufacturing, trade services, general government and departmental enterprises. Supply and Use Tables for 2022-23 and 2023-24 are also updated.
August 31, 2026
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Trade facilitation and pharmaceutical market access advance through regulatory cooperation, preferential trade modernisation, and reciprocal agricultural access.
India and Brazil are advancing bilateral trade, investment and economic cooperation through a diversified partnership focused on pharmaceuticals, chemicals, engineering goods and machinery. India-MERCOSUR engagement is being pursued through early finalisation of Terms of Reference for expansion and modernisation of the Preferential Trade Agreement. Pharmaceutical market access is supported by regulatory cooperation under the CDSCO-ANVISA MoU. Agricultural trade facilitation includes phytosanitary processes, reciprocal market access work and mutual recognition of Electronic Certificates of Origin, alongside multilateral coordination through BRICS, the G20 and the WTO.
August 31, 2026
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Cross-border UPI merchant acceptance enables Indian travellers to make UZQR payments at merchants throughout Uzbekistan.
Cross-border UPI merchant acceptance in Uzbekistan allows Indian travellers to make instant person-to-merchant payments through UPI-enabled applications by scanning the interoperable UZQR code. Integration with the Unified National QR infrastructure extends acceptance across retail, hospitality and service merchants. Regulatory approvals support HUMO's role as NIPL's authorised partner for cross-border merchant acceptance, reducing reliance on international cards and cash.
August 31, 2026
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Mobile-first aviation education supports accessible, self-paced certification-led learning and career awareness across aviation roles and geographic locations.
Flymore Aviation LLP operates a mobile-first aviation learning platform intended to make specialised aviation education more accessible and affordable for aspiring pilots, cabin crew and other aviation-sector professionals. The app provides structured, self-paced aviation courses aimed at building industry knowledge, supporting certification-led skill development, improving career awareness and assisting employment readiness across aviation functions. Course delivery through a digital platform is positioned as an alternative to location-dependent and high-cost classroom training.
August 31, 2026
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Indigenous defence technology and exports anchor the annual performance review of public sector defence enterprises.
Annual performance review of 16 Defence Public Sector Undertakings is scheduled with emphasis on indigenous technology, innovation, self-reliance and enhancement of defence exports. Chairpersons and managing directors of seven specified undertakings will present dividends attributable to the Government's equity shareholding. Publications cover self-reliance, student awareness of defence technologies, and modernisation and indigenisation roadmaps. Reported performance includes growth in turnover, profit after tax and defence exports.
August 31, 2026
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Employee provident fund and gratuity dues remain protected outside the liquidation estate despite competing financial creditor claims in insolvency proceedings.
Employee provident fund and gratuity dues of former Jet Airways workmen and employees were required to be paid in full by the liquidator. The NCLAT position upheld treats statutory employee dues relating to provident fund, gratuity and pension funds as outside the liquidation estate, protecting them from competing creditor claims. Financial creditors had argued that such dues should be distributed through the liquidation estate unless dedicated funds existed at the commencement of liquidation. The underlying questions of law remain open for an appropriate case.
August 31, 2026
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Rupee exchange-rate support amid dollar strength and oil risks as foreign-currency deposit flows bolster market sentiment.
Foreign-exchange market conditions saw the rupee recover from early losses amid possible Reserve Bank of India intervention to contain significant depreciation. Higher US Treasury yields, a broader dollar rally, rising crude oil prices and geopolitical supply risks pressured the currency. The special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings mobilised foreign-exchange inflows supported by non-resident Indian participation, strengthening market sentiment.
August 31, 2026
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Financial confidence gaps persist when opaque financial journeys, dark patterns and unclear communication deter informed consumer participation.
Financial-service digitisation may expand access without ensuring consumer confidence where customers cannot understand processes, assess risks or feel secure in financial decisions. Opaque claims, redemptions, eligibility criteria and approval stages can weaken trust and discourage insurance, investment and credit participation. Hidden charges, complex documentation, forced bundling and target-driven sales practices may further impair informed choice. Greater transparency, simplified communications, real-time process visibility and AI-assisted guidance are identified as measures to reduce cognitive friction and strengthen consumer control.
August 31, 2026
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NBFC licensing enables Hyundai Capital India to begin wholesale dealer financing while preparing retail finance and risk-management infrastructure.
Hyundai Capital India has commenced financial services operations after obtaining a non-banking financial company licence from the Reserve Bank of India. Initial operations concentrate on wholesale financing for local automotive dealers. Operations are intended to expand the dealer-financing network, sales infrastructure and risk-management systems across India, supporting a subsequent phased introduction of retail financing for individual customers.
August 31, 2026
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Personal insolvency resolution approval faces criticism over low creditor recovery and alleged family-linked voting influence in the resolution process.
Personal insolvency resolution approval concerning Subhash Chandra involved a repayment plan of Rs 6.5 crore against admitted creditor claims exceeding Rs 22,000 crore. Objections were raised regarding the voting influence exercised by entities linked to the debtor's family in relation to the resolution process. Pinarayi Vijayan criticised the approval, alleging preferential treatment of powerful corporate interests.
August 31, 2026
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Foreign exchange market intervention seeks to limit rupee depreciation amid oil-price pressure, dollar strength, and capital outflows.
Foreign exchange market conditions put the rupee under depreciation pressure amid higher crude oil prices, geopolitical risks, stronger US dollar conditions, expectations of tighter US monetary policy and foreign equity outflows. RBI market intervention was reported to contain significant depreciation. Improved foreign-currency non-resident bank deposit flows and higher foreign exchange reserves supported investor sentiment and the external liquidity position.
August 31, 2026
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Psychotropic medicine diversion faces NDPS enforcement where controlled tablets allegedly travel without statutory documentation and traceability details.
Enforcement action under the Narcotic Drugs and Psychotropic Substances Act, 1985 addressed alleged inter-State diversion of psychotropic medicines transported without statutory documentation. A truck carrying Alprazolam, Tramadol, Nitrazepam and Clonazepam tablets was intercepted; the medicines and vehicle were seized and one suspect was arrested. Preliminary examination indicated erasure of identifying batch and date details and transport of region-restricted medicines without invoices, bilty or e-way bills. Investigation concerns the manufacturing, supply and distribution network involved.
August 31, 2026
Show AI Summary
Synthetic-drug trafficking enforcement targets rail-borne amphetamine and MDMA consignments through baggage interceptions, seizures, follow-up delivery operations, and arrests.
Synthetic-drug trafficking enforcement involved two intelligence-led railway-station operations targeting amphetamine and MDMA transportation and receipt. Baggage intercepted at Bengaluru contained a crystalline substance preliminarily indicating amphetamine, while a separate Pune interception recovered substances purported to be amphetamine and MDMA tablets. The contraband and related packing material were seized under the Narcotic Drugs and Psychotropic Substances Act, 1985. Follow-up delivery action identified alleged receivers, and the carriers and alleged receivers were arrested under that statutory framework.
August 31, 2026
Show AI Summary
India-Chile CEPA negotiations seek a balanced framework to expand trade, investment, technology cooperation and resilient supply chains.
India-Chile CEPA negotiations are being advanced toward conclusion by the end of the year through a balanced and commercially meaningful framework. The proposed partnership is intended to strengthen bilateral economic ties, expand trade and investment, and create equitable opportunities for businesses and people in both countries. Cooperation is envisaged in technology, talent and resilient supply chains, alongside enhanced engagement in healthcare, pharmaceuticals, energy, minerals, agriculture, machinery and engineering.
August 30, 2026
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Sugar price controls face persistent retail and wholesale price firmness despite duty-free imports, stockholding restrictions, and export prohibition.
Sugar retail and wholesale prices remained elevated despite measures intended to curb price increases, including duty-free imports of raw sugar, tighter stockholding norms for bulk users and dealers, and a prohibition on sugar exports. Ex-mill rates declined following the permitted duty-free imports, although customary margins continued between ex-mill, wholesale, and retail prices. Projected sugar production is lower than earlier estimates, while annual domestic demand remains substantial.
August 30, 2026
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Aadhaar OTP verification expands online vehicle and licensing services, reducing physical visits and curbing intermediary exploitation.
Aadhaar-based OTP verification will be extended to additional vehicle- and driving-licence-related services through the Vahan and Sarathi portals. The digital arrangement is intended to reduce physical visits to transport offices, prevent intermediary exploitation arising from delayed processing, and enable applications to be processed on a first-come, first-served basis. Physical attendance will remain necessary for vehicle inspections, identification of legal heirs, personal hearings, and authentication where Aadhaar OTP verification fails.
August 30, 2026
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Related-party creditor voting in personal insolvency turned on whether the debtor held majority ownership or direct board control.
Dissenting lenders challenged the admission and voting rights of five creditors alleged to be family-linked associate or related entities, contending that their voting share enabled approval of a personal insolvency repayment plan. They alleged invalid post-moratorium guarantee invocations, undisclosed liabilities, inadequate claim scrutiny and incorrect voting-share computation. The third member rejected the voting-rights challenge, treating associate status as requiring the debtor's personal majority shareholding or direct board control, and accepted the repayment plan.
August 30, 2026
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Examination continuity and candidate fairness require re-examination where power failures prevent completion, alongside review of infrastructure accountability.
NEET-PG 2026 examination continuity was disrupted for candidates at two Jaipur centres because of internal power-supply failures attributable to the technological partner and examination-conducting agency. A re-examination has been scheduled for the affected candidates, with the venue and revised admit cards to be communicated separately. Action against the entities responsible for ensuring adequate examination infrastructure is under consideration.
August 30, 2026
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Women's monthly assistance eligibility restricts benefits to qualifying households and channels payments through deposits or restricted digital wallets.
Delhi Lakshmi Yojana provides monthly financial assistance to eligible women through recurring deposits and restricted Central Bank Digital Currency wallets. Recurring deposits are locked until July 31, 2029, subject to possible review of the maturity period after two years from launch. Eligibility requires a qualifying woman to be the eldest female family member, meet income, residence and voter-registration requirements, and satisfy household restrictions. Income-tax payers, GST filers, government employees, higher-electricity-consuming households and four-wheeler-owning households are excluded.
August 30, 2026
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Gasoline trade amid refinery disruptions relies on sanctioned fleets and dark ship-to-ship transfers, alongside continuing fuel export restrictions.
Russian refinery disruption has increased gasoline imports and made India a significant supplier of gasoline to Russia. Indian supplies were principally linked to the Vadinar refinery, and increased Indian purchases of Russian crude may mean exported gasoline was produced from Russian crude. Russia has retained a gasoline export ban while domestic production remains disrupted. India-origin cargoes imported during August were carried on sanctioned fleets and involved dark ship-to-ship transfers, including transfers conducted with automatic identification system signals switched off.

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Customs & Trade

US' global trade partners react to Trump's new tariffs

August 1, 2025

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Washington, Aug 1 (AP) US trade partners reacted Friday to President Donald Trump's executive order that would introduce new tariffs on many of them in seven days, as the global economy and alliances face a fresh test from the president's trade agenda.

Trump's order issued Thursday night came after a flurry of tariff-related activity in recent days as the White House announced agreements with various nations and blocs ahead of Trump's self-imposed Aug 1 deadline.

Trump also said Thursday he would extend trade negotiations with Mexico for 90 days. But the vast majority of nations are continuing to face uncertainty ahead of the coming deadline.

While a handful of trade deals have trickled in, many details remain hazy, with businesses and manufacturers around the world bracing for heightened operating costs and potential price hikes.

Meanwhile, Trump's overhaul of US trade policy hasn't gone unchallenged. Appellate court judges have expressed broad scepticism around the president's legal rationale for his most expansive round of tariffs.

Switzerland hit with 39% tariff and will try to negotiate The land of luxury watches, pharmaceuticals and secretive financial services was reeling Friday, Switzerland's National Day, upon learning it had been slapped with a 39% tariff, although Trump had proposed a 31% rate in April.

The Swiss government said officials will continue to seek a negotiated solution.

“The Federal Council notes with great regret that, despite the progress made in bilateral talks and Switzerland's very constructive stance from the outset, the US intends to impose unilateral additional tariffs on imports from Switzerland,” the government said in a post on X.

Trump orders a 35% tariff for goods from Canada, citing a lack of cooperation on illicit drugs Trump has raised the tariff rate on US imports from Canada to 35% from 25%, effective Friday.

The announcement from the White House late Thursday said Canada had failed “to do more to arrest, seize, detain, or otherwise intercept drug trafficking organisations, other drug or human traffickers, criminals at large, and illicit drugs".

Trump earlier had threatened to impose the higher tariff on Canada if no deal was reached by Friday, his deadline for reaching trade agreements with dozens of countries.

Canada was not included in Trump's updated list of tariff rates on other countries announced late Thursday. Those import duties are due to take effect on Aug 7.

Malaysia hails 'significant achievement' in 19% tariff rate Malaysia's Trade Ministry said Friday that the US tariff reduction from 25% to 19% was a “significant achievement” as the deal was struck without compromising key national interests.

“The 19% rate roughly tracks the rate of other countries in the Southeast Asian region,” the ministry said in a statement. “Most importantly, Malaysia had stood firm on various red line' items, and the 19% tariff rate was achieved without compromising the nation's sovereign right to implement key policies to support the nation's socio-economic stability and growth.” The ministry said that Malaysia's economy remains resilient despite global headwinds, citing strong domestic demand and ongoing structural reforms.

The statement didn't give further details but officials previously said non-tariff barriers such as halal certification, which affects US beef and poultry exports, along with digital trade and government procurement were sticky points. It's unclear what concessions Malaysia made.

Cambodia will impose zero tariffs on all American goods Cambodia's Deputy Prime Minister Sun Chanthol, who led his nation's trade talks with the US, thanked Trump for setting the tariff rate on Cambodian goods at 19% and said his country will impose zero tariffs on all American goods.

When Washington originally posted its list of notional “reciprocal” tariffs, the rate for goods from Cambodia was 49%, one of the highest in the world. It had estimated that Cambodian tariffs on US imports averaged 97%.

Sun Chanthol also said Cambodia would purchase 10 passenger aircraft from Boeing in a deal they hoped to sign later this month. Several other nations had already announced similar aircraft purchase deals as part of their trade packages.

Trump had threatened to not conclude a deal with reduced tariffs if Cambodia and Thailand did not stop a recent armed conflict over border territory. The two nations agreed on a ceasefire beginning Tuesday that appears to be holding.

Cambodia publicly celebrated Trump's peace initiative, suggesting he deserved a Nobel Prize for his intervention. Sun Chanthol said Friday that Cambodia would nominate him for the honour.

Australia's 10% tariff rate is vindication of country's 'cool and calm negotiations,' trade minister says Australian Trade Minister Don Farrell says gaining the minimum US tariff on exports including beef, lamb, wine and wheat gave Australia a competitive advantage over some competitors.

Farrell told reporters Australia did not introduce tariffs on US goods at any point, and added, “I haven't seen any case or any example where the retaliatory imposition of tariffs has resulted in a country being in a better position." Farrell argues that no US tariffs can be justified because Australia imposes no tariffs on its bilateral free trade partner. The United States has enjoyed a trade surplus with Australia for decades.

Australian Prime Minister Anthony Albanese has been criticised for failing to secure a face-to-face meeting with Trump to discuss trade.

Japan welcomes Trump's signing of the executive order as an ease in uncertainty Japanese Chief Cabinet Secretary Yoshimasa Hayashi welcomed Trump's signing of the executive order setting Japan's new reciprocal tariffs as a step that would reduce uncertainty of the US trade policy and its negative impact on the global economy, including that of Japan.

Hayashi, however, said Japan still needs to closely examine the measures and continue urging prompt implementation by the US government to carry out the agreement, including reduction of tariffs on automobiles and auto parts.

Hayashi acknowledged that Japan's new tariff rate of 15% is a “major reduction” from the initially imposed 25%, but his government will continue to watch and mitigate its impact on Japanese exports, including by providing financial assistance for small and medium-sized businesses.

New Zealand looks to lobby for lower tariff rates New Zealand officials said they would lobby the administration for a change to the 15% tariff announced for the country's exporters to the US. It's an increase from the original 10% baseline announced for New Zealand in April.

“We don't think this is a good thing. We don't think it's warranted,” Trade Minister Todd McClay told Radio New Zealand Friday. He said New Zealand appeared to have been targeted for a larger levy because the country records a trade deficit with the US but that the gap of about half a billion dollars each year was “not significant or meaningful”.

Neighbouring Australia dodged an increase to remain at 10%, but it records a trade surplus with the US, McClay added.

The United States in January overtook Australia to become New Zealand's second-largest export partner, behind China. New Zealand exports are largely made up of meat, dairy, wine and agricultural machinery.

Taiwan president says final tariff negotiations with US yet to come Taiwan President Lai Ching-te said Taiwan had yet to engage in final negotiations with the US owing to scheduling difficulties and that he was hopeful the final tariff rate would be reduced even further after a final round of talks.

The Trump administration hit Taiwan with 32% tariffs, and lowered it to 20% on Thursday. Taiwan was notified on Thursday by the administration of the lower rate.

“Twenty per cent from the beginning has not been our goal. We hope that in further negotiations we will get a more beneficial and more reasonable tax rate,” he told reporters in Taipei on Friday.

Lai also linked trade talks to security issues, as the US is Taiwan's largest ally even though it does not formally recognise the island. “We want to strengthen US Taiwan cooperation in national security, tech, and multiple areas,” he said Friday.

The US is Taiwan's most important export market and strategic ally, Lai said in an earlier statement Friday morning.

Cambodia prime minister thanks Trump for dropping tariff rate Cambodia Prime Minister Hun Manet expressed his thanks to Trump for the dropping of tariffs from 36% to 19% and he called the reduction “good news” for Cambodia.

Posted on his social media platform, Hun Manet said Trump had not only helped broker a ceasefire between Cambodia and Thailand forces after nearly a weeklong clash but also helped Cambodia's economy by lowering tariffs.

“This is good news for the people and economy of Cambodia to continue developing the country,” Hun Manet said.

Thailand successfully negotiates lower tariff rates Thailand's government spokesperson Jirayu Houngsub said Thailand says the US agreed to reduce the tariffs rate from 36% to 19%, a rate similar to those imposed on many other Southeast Asian countries such as Vietnam and the Philippines.

“It's one of the major successes of Team Thailand in a win-win approach, to secure the country's export base and economic security in a long run,” he said in a statement. He didn't immediately say what was the latest offer Thailand made to the US.

The agreement came days after a ceasefire between Thailand and Cambodia to halt the nearly weeklong clashes that killed at least 41 people. It was brokered with US pressure as Trump said he would not move forward with trade agreements if the conflict continued. (AP) SCY SCY

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