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    DRI seizes quantities of gold; drugs, e-cigarettes and other contraband in pan-India Ops; 20 persons, including 5 foreign nationals, arrested
    Union Government releases tax devolution of ₹1,09,019 crore to State Governments, as one advance instalment to accelerate their capital and deve...
    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
    Rupee rises 31 paise to 95.12 against US dollar in early trade
    Customs seizes 8 kg gold worth over Rs 11 cr at Kerala airports in one week
    Drill, Baby, Drill: India to fund Rs 650 cr per well for 60 deepsea wells to break its oil import habit
    Punjab GST revenue rises 20 pc to Rs 10,447 crore in April-July: Cheema
    India-China trade through Shipli La resumes after six years
    Odisha's export can reach USD 50 billion by FY 2029-30: Study
    Andhra records 21 per cent growth in net GST collections till July
    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
    Gross and Net GST revenue collections for the month of July, 2026
    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
    Gross GST collection kitty swells 15.4 pc to over Rs 2.11 lakh cr in July
    RBI says USD 40.82 bn mobilised under forex swap facility till Jul 31
    Sebi bars ZEEL for 2 months, Subhash Chandra, Punit Goenka for 1 year in Hyderabad land pledge case
    Department of Commerce Holds Workshop on Trade and Sustainable Development Policy Landscape
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    August 3, 2026
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    Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
    Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
    August 3, 2026
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    Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
    Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
    August 3, 2026
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    Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
    Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
    August 3, 2026
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    Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, attributed to lower global crude oil prices, a weaker dollar, sustained foreign portfolio inflows, higher foreign exchange reserves, and Reserve Bank of India presence in the foreign exchange market. Domestic equity market gains and net foreign institutional equity purchases were also identified as supporting factors.
    August 2, 2026
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    Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
    Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
    August 2, 2026
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    Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
    The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
    August 1, 2026
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    GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
    Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
    August 1, 2026
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    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
    August 1, 2026
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    Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
    Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
    August 1, 2026
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    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
    GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
    August 1, 2026
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    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
    Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
    August 1, 2026
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    PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
    PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
    August 1, 2026
    Show AI Summary
    Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
    Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
    August 1, 2026
    Show AI Summary
    GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
    GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
    August 1, 2026
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    Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
    Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.
    August 1, 2026
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    GST collection growth in West Bengal continued year-on-year in July but remained below the national growth trend.
    West Bengal's July GST collection increased year-on-year and over the preceding month, marking a second consecutive month of annual growth. Official data also indicated that the State's annual growth rate was below the national trend, while gross domestic GST revenue excluding imports and overall gross GST collections including import-related taxes rose nationally during July.
    August 1, 2026
    Show AI Summary
    GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
    Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
    August 1, 2026
    Show AI Summary
    Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
    The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
    August 1, 2026
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    Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
    Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.
    August 1, 2026
    Show AI Summary
    Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
    Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.

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      Trump begins planning for Putin-Zelenskyy meeting while affirming US help with security guarantees

      August 19, 2025

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      Washington, Aug 19 (AP) President Donald Trump said Monday he's begun arrangements for a face-to-face meeting between Vladimir Putin and Volodymyr Zelenskyy to discuss a pathway to end Russia's invasion of Ukraine, while affirming that the U.S. would back European security guarantees aimed at preventing Moscow from reinvading its neighbor once the current conflict ends.

      Details of the security guarantees and Trump's efforts to arrange peace talks were still evolving as an extended meeting among Trump, Zelenskyy and other European leaders wrapped up at the White House.

      But as they emerged from their talks, the leaders expressed guarded optimism that Trump could be finding momentum in his quest to fulfill his campaign promise of ending the grinding war.

      The “most important” outcome of the meeting was the “U.S. commitment to work with us on providing security guarantees,” French President Emmanuel Macron told reporters.

      Trump said he would forge ahead with arrangements for a meeting between Zelenskyy and Putin. He spoke by phone with Putin during Monday's talks with Zelenskyy and the leaders of Britain, Finland, France, Germany and Italy as well as the president of the European Commission and head of NATO.

      The developments come amid a significant measure of trepidation on the continent that Trump is pressing Ukraine to make concessions that will only further embolden Putin after the U.S. leader hosted the Russian president for an Alaska summit last week.

      “I called President Putin, and began the arrangements for a meeting, at a location to be determined, between President Putin and President Zelenskyy,” Trump said in a social media post. “After that meeting takes place, we will have a Trilat, which would be the two Presidents, plus myself. Again, this was a very good, early step for a War that has been going on for almost four years.” It was not clear if Putin has fully signed on to such talks.

      Russia state news agency Tass cited Putin's foreign affairs adviser Yuri Ushakov saying Putin and Trump “spoke in favor” of continuing direct talks between the Russian and Ukrainian delegations. Ushakov said they also discussed “the idea of raising the level of the direct Russian-Ukrainian negotiations.” Zelenskyy told reporters following the White House meeting that if Russia does “not demonstrate a will to meet, then we will ask the United States to act accordingly.” NATO Secretary General Mark Rutte said in an appearance on Fox News that “if Russia is not playing ball” on direct talks with Ukraine, “the United States plus Europe will do more when it comes to tariffs and sanctions” on Moscow.

      Zelenskyy previously had said he wanted Russia to agree to a ceasefire before any meeting between himself and Putin, but he said Monday that if the Ukrainians started setting conditions, the Russians would do the same.

      “That's why I believe that we must meet without any conditions, and think about what development there can be of this path to the end of war,” Zelenskyy said.

      Earlier, Trump said during talks with Zelenskyy and the European leaders that a potential ceasefire and who gets Ukrainian territory seized by Russia should be hashed out during a face-to-face meeting between the warring countries' two leaders.

      “We're going to let the president go over and talk to the president and we'll see how that works out,” Trump said.

      That was a shift from comments Trump made soon after meeting Putin last week in which he appeared to tilt toward Putin's demands that Ukraine make concessions over land seized by Russia, which now controls roughly one-fifth of Ukrainian territory.

      Questions about US and NATO involvement Trump stopped short of committing U.S. troops to a collective effort to bolster Ukraine's security. He said instead that there would be a “NATO-like” security presence and that all those details would be hashed out with EU leaders.

      Zelenskyy said deep U.S. involvement in the emerging security guarantees is crucial.

      “It is important that the United States make a clear signal, namely that they will be among the countries that will help to coordinate and also will participate in security guarantees for Ukraine,” Zelenskyy said.

      Speaking Monday before the White House meetings took place, Russia's Foreign Ministry spokesperson Maria Zakharova rejected the idea of a possible NATO peacekeeping force in Ukraine. She said such a scenario could lead to further escalation and “unpredictable consequences." Trump's engagement with Zelenskyy had a strikingly different feel to their last Oval Office meeting in February. It was a disastrous moment that led to Trump abruptly ending talks with the Ukrainian delegation, and temporarily pausing some aid for Kyiv, after he and Vice President JD Vance complained that Zelenskyy had shown insufficient gratitude for U.S. military assistance.

      At the start of Monday's meeting, Zelenskyy presented a letter from his wife, Olena Zelenska, for Trump's wife, Melania.

      Zelenskyy faced criticism during his February meeting from a conservative journalist for appearing in the Oval Office in a long-sleeve T-shirt. This time he appeared in a dark jacket and buttoned shirt. Zelenskyy has said his typically less formal attire since the start of the full-scale Russian invasion in 2022 is to show solidarity with Ukrainian soldiers.

      European leaders arrived in Washington looking to safeguard Ukraine and the continent from any widening aggression from Moscow.

      Ahead of Monday's meeting, Trump suggested that Ukraine could not regain Crimea, which Russia annexed in 2014, setting off an armed conflict that led to its broader 2022 invasion.

      Zelenskyy in his own post late Sunday, responded, “We all share a strong desire to end this war quickly and reliably.” He said “peace must be lasting,” not as it was after Russia seized Crimea and part of the Donbas in eastern Ukraine eight years ago and “Putin simply used it as a springboard for a new attack.” European heavyweights in Washington European leaders suggested forging a temporary ceasefire is not off the table. Following his meeting with Putin on Friday, Trump dropped his demand for an immediate ceasefire and said he would look to secure a final peace settlement between Russia and Ukraine — a sudden shift to a position favored by Putin.

      German and French leaders on Monday praised Trump for opening a path to peace, but they urged the U.S. president to push Russia for an immediate ceasefire.

      “I would like to see a ceasefire from the next meeting, which should be a trilateral meeting," said German Chancellor Friedrich Merz.

      Trump, for his part, reiterated that a broader, war-ending peace agreement between the two countries is “very attainable," but “all of us would obviously prefer the immediate ceasefire while we work on a lasting peace.” (AP) HIG HIG

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