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    India's Services Exports Rise to USD 421.3 Billion in FY 2025-26, Led by Telecommunications, Computer and Information Services and Business Services
    India and Israel Conclude Second Round of Negotiations for Proposed Free Trade Agreement
    Glomo Secures Visa's Principal Membership, Becomes India's First Non-Bank Acquirer to Join the Network
    India's forex reserves jump USD 1.08 billion to USD 676.237 billion
    Boult Earbuds in India 2026: Five Reasons They are the Smartest Budget Pick
    Stock markets extend losses for 5th straight day on US trade tariffs, West Asia tensions
    China slaps export controls on 14 EU entities in retaliation for Russia-related sanctions
    Rupee recovers 18 paise to settle at 96.55 against US dollar
    Infosys: AI Revenues at 8.2% in Q1; Resilient Operating Margin of 21.1%
    Shares skid in Asia in sell-off of AI-related shares as Brent oil trades near $100 per barrel
    30-member Indian commerce chamber delegation to visit Sri Lanka
    Rupee rises 22 paise to 96.51 against US dollar in early trade
    ED conducts raids in UP, Delhi and Punjab in Rs 450-crore bank loan 'fraud'
    US slaps 10 per cent tariff on goods imported from India over forced labour concerns
    NICDC Organises Cross-Learning Site Visit to AURIC Smart City to Strengthen Industrial Corridor Development
    India Concludes Eighth Trade Policy Review at WTO in Geneva
    US' temporary 10 pc tariff set to expire on Friday unless extended or new duties announced
    PNB to establish Quantum Finance Innovation Hub in Amaravati
    Infosys veteran Ashiss Kumar Dash to succeed Salil Parekh as new CEO in 2027
    Gold falls Rs 400 per 10 grams amid surging oil prices
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    July 24, 2026
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    Services export promotion expands market access, professional mobility, qualification recognition and trade outreach for Indian service suppliers.
    Services export promotion combines targeted market and sector strategies, removal of domestic impediments, trade agreements and export-promotion activity. Free Trade Agreements secure market access and national treatment for Indian service suppliers, support transparent and time-bound authorisation processes, and facilitate temporary mobility of skilled professionals. Mutual Recognition Agreement provisions seek recognition of qualifications and licensing requirements. The framework also addresses social-security coordination, student mobility, traditional medicine and double-taxation commitments for IT services. The Services Export Promotion Council supports market development, trade facilitation, capacity building and international outreach.
    July 24, 2026
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    Free trade agreement negotiations advance as India and Israel address market access, origin rules, customs facilitation and economic cooperation.
    India and Israel completed the second round of negotiations for a proposed Free Trade Agreement under the Terms of Reference signed in November 2025. Technical discussions covered trade in goods and services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, intellectual property rights, customs procedures, trade facilitation and economic cooperation. Both sides sought to narrow gaps, identify areas of convergence and work towards early conclusion of a balanced, comprehensive and mutually beneficial agreement.
    July 24, 2026
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    Direct card acquiring enables cross-border merchants to manage payment processing, settlement, risk monitoring and disputes without intermediary acquirers.
    Visa Principal Membership enables Glomo to operate as a direct non-bank acquirer for Visa-powered merchant card payments through GIFT IFSC. It allows direct management of merchant acquisition, processing, settlement, transaction approval optimisation, fraud and risk monitoring, and dispute and chargeback handling without intermediary acquirers. The arrangement is intended to accelerate onboarding and processing, enhance control over risk policies and merchant experience, and support cross-border acceptance and settlement, including management of multiple currencies, banking systems and regulatory requirements.
    July 24, 2026
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    Foreign exchange reserves rose as foreign currency assets increased, while gold reserves fell and IMF reserve position declined.
    Foreign exchange reserves increased during the reported week, principally because foreign currency assets rose, including valuation effects from movements in non-US currencies held in reserve. Gold reserves declined, Special Drawing Rights increased, and the reserve position with the International Monetary Fund decreased. Earlier reserve declines were associated with rupee pressure and foreign-exchange market intervention through dollar sales.
    July 24, 2026
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    Consumer electronics financing enables instalment purchases of affordable earbuds through in-store loan and reusable credit facilities, subject to approval.
    Affordable Boult earbuds are described as offering extended battery life, fast charging, dynamic drivers, low-latency gaming modes, Environmental Noise Cancellation, Bluetooth connectivity, and selected active noise-cancellation features. Models are compared by audio, calling, gaming, and charging specifications. Purchases through partner stores may be financed through an Easy EMI Loan or Insta EMI Card, subject to in-store application and approval, with instalment tenures and possible zero-down-payment offers on selected models.
    July 24, 2026
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    Trade-tariff concerns and oil-price volatility deepen risk aversion, extending equity market losses amid geopolitical tensions and foreign outflows.
    Indian equity markets extended their losing streak amid caution over United States trade-tariff concerns, West Asia tensions, oil-price volatility, foreign equity outflows and selling in selected blue-chip shares. Higher oil prices were identified as a potential pressure on macroeconomic indicators and growth prospects. New import tariffs were described as a constraint for export-oriented economies, particularly technology-heavy markets, while investors may diversify exposure across emerging-market opportunities.
    July 24, 2026
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    Dual-use export controls restrict supplies to European entities amid reciprocal Russia-related sanctions and non-proliferation concerns.
    China imposed dual-use export controls on 14 European entities in response to European Union sanctions affecting Chinese and Hong Kong enterprises. Chinese companies cannot export dual-use items to the listed organisations, and foreign companies are barred from supplying them with dual-use items made in China. China stated that the restrictions protect national security and interests and support international non-proliferation obligations in the context of Russia-related sanctions.
    July 24, 2026
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    Foreign-exchange market intervention supported rupee stabilisation amid investor outflows, weak equities, geopolitical tensions and elevated crude oil prices.
    Foreign-exchange market conditions supported a rupee recovery against the US dollar following reported Reserve Bank of India intervention and dollar sales by public-sector banks. Pressure on the currency persisted due to foreign institutional investor outflows, weak domestic equity sentiment, geopolitical tensions and elevated crude oil prices. Lower crude prices, a weaker dollar index and further central bank intervention were identified as potential stabilising influences.
    July 24, 2026
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    Forward-looking statements receive safe-harbor qualification amid reported IFRS performance, AI-led transformation initiatives, and revised revenue-growth guidance.
    Infosys reported first-quarter IFRS financial performance, including revenue growth, operating margin, earnings per share, free cash flow, and large-deal contract value, while revising revenue-growth guidance and retaining operating-margin guidance. The release describes AI-led enterprise transformation, cloud modernization, digital banking, financial-crime operations, and technology services engagements. Forward-looking statements are subject to safe-harbor protection and may differ materially because of business, talent, economic, technological, regulatory, cybersecurity, litigation, investigation, and tariff-related risks.
    July 24, 2026
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    Forced-labour import enforcement drives new tariffs as expiring stopgap levies and market uncertainty heighten trade-compliance concerns.
    Import tariffs were announced on goods from trading partners said not to have fully enforced prohibitions on products made with forced labour. The measures apply to imports from 60 trading partners representing most United States imports and were introduced as existing stopgap levies approached expiry, following a Supreme Court setback affecting other tariff measures. The announcement occurred amid market uncertainty linked to energy-route disruptions, rising crude-oil prices, inflation concerns, and scrutiny of artificial-intelligence investment spending.
    July 24, 2026
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    Cross-border commercial engagement supports Indian and Sri Lankan businesses in identifying partnerships and strengthening trade and investment relationships.
    Cross-border trade and investment engagement between India and Sri Lanka is proposed through a commerce chamber delegation representing diverse Indian industry sectors. A networking session is intended to enable direct interactions between businesses, identify partnership opportunities, discuss commercial collaboration and develop new business connections. The engagement seeks to strengthen commercial relationships across participating industries within the established bilateral trade and investment relationship.
    July 24, 2026
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    Foreign exchange market intervention limited rupee depreciation amid elevated oil prices, importer dollar demand, capital outflows and equity market weakness.
    Foreign exchange market conditions reflected an early appreciation of the rupee against the US dollar, with likely central bank intervention through state-owned banks reported as limiting sharper depreciation. Softer dollar conditions provided limited support, while elevated crude oil prices increased dollar demand from oil marketing companies and sustained importer buying pressure. Foreign institutional investor equity outflows, domestic equity weakness, and West Asia tensions affecting oil prices also influenced the rupee.
    July 24, 2026
    Show AI Summary
    Money-laundering investigation examines alleged bank-loan fund diversion through shell entities, accommodation entries, fake invoices and circular transactions.
    A money-laundering investigation under the Prevention of Money Laundering Act concerns alleged bank-loan fraud involving Santosh Overseas Ltd., its promoters and linked entities. Searches were conducted at premises in Uttar Pradesh, Delhi and Punjab. The investigation, arising from a Central Bureau of Investigation case, alleges diversion and layering of loan funds through shell entities, accommodation-entry operators and related companies by means of purportedly fake invoices and circular financial transactions.
    July 24, 2026
    Show AI Summary
    Forced-labour import prohibitions shape tariff treatment as India's policy amendment secures a lower rate for imported goods.
    Forced-labour import prohibitions are linked to tariff treatment under Section 301 of the Trade Act of 1974. Goods imported from India receive a lower tariff rate after India amended its foreign trade policy to prohibit imports of goods produced using forced labour. The framework excludes certain raw materials, goods causing economy-wide disruption, and products unavailable in sufficient domestic quantities. India has contested the underlying investigations and proposes that the issues be addressed through a bilateral trade agreement.
    July 24, 2026
    Show AI Summary
    Integrated industrial city development promotes cross-learning on digital governance, investor facilitation, infrastructure planning and plug-and-play industrial parks.
    Industrial corridor development is being supported through cross-learning on AURIC Smart City's integrated planning, infrastructure and governance practices. The programme addresses master planning, utility systems, digital monitoring, land utilisation, investor facilitation, project implementation and coordination among implementing agencies. It also considers application of these practices to the Bharat Audyogik Vikas Yojana for plug-and-play industrial parks, with emphasis on integrated utilities, digital land management, investor-friendly approvals, sustainable infrastructure and multimodal connectivity.
    July 24, 2026
    Show AI Summary
    WTO trade policy review highlights India's commitment to transparent trade rules, development policy space and multilateral engagement.
    India reaffirmed an open, transparent, predictable and WTO-consistent trade and investment regime through tariff reform, customs simplification and free trade agreement initiatives. Its trade policy was presented as balancing developmental needs with WTO principles: agricultural tariffs protect vulnerable farmers, while industrial tariffs support supply-chain resilience and domestic manufacturing. India also committed to transparent, consultative and rules-compliant sanitary measures, technical regulations and trade remedies, with investigations based on objective evidence, due process and judicial oversight, including continued application of the Lesser Duty Rule in anti-dumping matters.
    July 23, 2026
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    Temporary Section 122 surcharge expiry may restore MFN treatment for Indian exports, while Section 301 tariff uncertainty continues.
    The US temporary Section 122 import surcharge on Indian goods is scheduled to expire unless extended or replaced, restoring affected imports to normal US MFN tariff treatment. Liability depends on entry for consumption or warehouse withdrawal. Section 232 national-security tariffs remain unchanged. Indian exports may still face fresh measures under Section 301 investigations into forced labour and excess manufacturing capacity, alongside potential country-specific or sectoral tariffs. The expiry may improve export competitiveness and market access, particularly for labour-intensive and MSME-driven sectors.
    July 23, 2026
    Show AI Summary
    Quantum finance innovation will advance secure digital banking through cybersecurity, fraud detection, collaborative research, workforce development and digital literacy.
    A Quantum Finance Innovation Hub is proposed to apply quantum technologies to banking through stronger cybersecurity, proactive financial-fraud detection and secure digital financial ecosystems. The initiative will bring together industry, academia, startups, research organisations and government agencies to promote innovation in quantum computing, artificial intelligence and related technologies. It also focuses on workforce development, digital literacy, public confidence in digital financial services, and technology-enabled responses to cybercrime and digital-arrest scams.
    July 23, 2026
    Show AI Summary
    Chief executive succession plan appoints a CEO designate, subject to shareholder approval, for an AI-led corporate leadership transition.
    Corporate leadership succession at Infosys is proposed through the appointment of Ashiss Kumar Dash as Managing Director and Chief Executive Officer designate from 1 April 2027. The five-year appointment is subject to shareholder approval and follows a recommendation of the Board's Nomination and Remuneration Committee. The incumbent will remain in office until the transition date and support an orderly transfer of responsibilities. The succession plan identifies the CEO designate's business, technology-delivery, client and global operations experience as relevant to AI-led transformation.
    July 23, 2026
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    Bullion market pressure intensified as rising oil prices, inflation concerns and restrictive monetary policy expectations weakened gold and silver sentiment.
    Gold and silver prices declined amid weaker global bullion trends, profit-booking, and higher crude oil prices linked to Middle East tensions. Market commentary associated the decline with inflation concerns and expectations that major central banks may sustain restrictive monetary policy for longer. Gold was described as facing near-term pressure from higher interest-rate expectations, inflation risks, and geopolitical uncertainty.

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      Netanyahu defends new military offensive in Gaza and says it will be wider than announced

      August 11, 2025

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      Jerusalem, Aug 10 (AP) Israeli Prime Minister Benjamin Netanyahu on Sunday defended a new military offensive in Gaza that is more sweeping than previously announced, declaring in the face of growing condemnation at home and abroad that Israel “has no choice but to finish the job and complete the defeat of Hamas.” Even as more Israelis express concern over the 22-month war, Netanyahu said the security Cabinet last week instructed the dismantling of Hamas strongholds not only in Gaza City but also in the “central camps” and Muwasi. A source familiar with the operation, who spoke on condition of anonymity because they were not authorised to talk to the media, confirmed that Israel plans it in both areas.

      The crowded camps — sheltering well over a half-million displaced people, according to the UN — had not been part of Israel's announcement on Friday. It was not clear why, though Netanyahu faced criticism this weekend within his ruling coalition that targeting Gaza City was not enough. Netanyahu said there would be “safe zones," but such designated areas have been bombed in the past.

      Netanyahu spoke with Trump about plan Netanyahu's office late on Sunday said he had spoken with US President Donald Trump about the plan and thanked him for his “steadfast support.” Rejecting starvation in Gaza as well as a “global campaign of lies," Netanyahu spoke to foreign media just before an emergency meeting of the United Nations Security Council, a platform for outrage but little action on the war.

      “Our goal is not to occupy Gaza, our goal is to free Gaza,” Netanyahu asserted.

      Netanyahu said there is a “fairly short timetable” for next steps there, but did not give specifics. The goals, he said, include demilitarising the territory, the Israeli military having “overriding security control” and a non-Israeli civilian administration in charge.

      Israel wants to increase the number of aid distribution sites in Gaza, he said, but in a later briefing to local media, he asserted, “There is no hunger. There was no hunger. There was a shortage, and there was certainly no policy of starvation." Netanyahu also said he has directed Israel's military to “bring in more foreign journalists” — which would be a striking development, as they have not been allowed into Gaza beyond military embeds during the war.

      He again blamed many of Gaza's problems on the Hamas militant group, including civilian deaths, destruction and aid shortages. “Hamas still has thousands of armed terrorists," he asserted, adding that Palestinians are “begging” to be freed from them.

      Hamas responded with a lengthy statement that summed up Netanyahu's remarks as “blatant lies.” The United States defended Israel, saying it has the right to decide what is best for its security. It called allegations of genocide in Gaza false.

      The US has veto power at the council and can block proposed actions there.

      Other council members, and UN officials, expressed alarm. China called the “collective punishment” of people in Gaza unacceptable. Russia warned against a “reckless intensification of hostilities.” “This is no longer a looming hunger crisis; this is starvation,” said Ramesh Rajasingham with the UN humanitarian office. “Humanitarian conditions are beyond horrific. We have frankly run out of words to describe it.” Israel faces growing action even by its closest allies. Netanyahu said Chancellor Friedrich Merz of Germany had “buckled under” the growing international criticism by stopping exports of military equipment to Israel that could be used in Gaza. Merz, for his part, told public broadcaster ARD that Germany and Israel were talking “very critically” but Berlin's overall policies of friendship have not changed.

      More Palestinians killed as they seek aid At least 31 Palestinians were killed while seeking aid in Gaza, hospitals and witnesses said. The Associated Press spoke to witnesses of gunfire in the Israeli-controlled Morag and Netzarim corridors and the Teina area in the south. All accused Israeli forces of firing at crowds trying to reach food distributions or waiting for convoys.

      Fifteen people were killed while waiting for trucks near the Morag corridor that separates the southern cities of Rafah and Khan Younis, according to Nasser hospital.

      The situation is a “death trap,” said Jamal al-Laweh, who said Israeli forces opened fire there. “But I have no other choice to feed the kids.” Six were killed while waiting for aid in northern Gaza near the Zikim crossing, according to Gaza's Health Ministry and Shifa hospital.

      In central Gaza, witnesses said they heard warning shots before fire was aimed toward crowds trying to reach a distribution site operated by the Israeli-backed and US-funded Gaza Humanitarian Foundation. The AP could not independently confirm who fired. Awda hospital said four people were killed by Israeli gunfire.

      Six other aid-seekers were killed while trying to reach GHF sites in Khan Younis and Rafah, Nasser hospital said.

      The GHF sites opened in May as an alternative to the UN-run aid system, but operations have been marred by deaths and chaos.

      Responding to AP inquiries, the GHF media office said: “There were no incidents at or near our sites today.” Israel's military said there were no incidents involving troops near central Gaza aid sites.

      Hunger death toll among children hits 100 Israel's air and ground offensive has displaced most Palestinians and pushed the territory toward famine. Two Palestinian children died of malnutrition-related causes on Saturday, bringing the toll among children to 100 since the war began.

      At least 117 adults have died of malnutrition-related causes since June, when the ministry started to count them.

      The hunger toll is in addition to the ministry's war toll of 61,400 Palestinians. The ministry, part of the Hamas-run government and staffed by medical professionals, does not distinguish between fighters or civilians, but says around half of the dead have been women and children. The UN and independent experts consider it the most reliable source on war casualties.

      Labour strike urged in Israel over looming offensive Hostages' relatives have urged a labour strike in Israel next week over the plans to expand military operations, fearing it will endanger their loved ones. Fifty hostages remain after being taken in the Hamas-led attack on October 7, 2023, that sparked the war. Twenty are believed to be alive.

      Dozens of people sat outside the US consulate in Jerusalem to protest Israel's offensive. “I think it's a horrible decision. It's like deciding that we don't want (hostages) alive anymore,” said one, Milly Rothschild. (AP) RUK RUK

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