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    US slaps 10 per cent tariff on goods imported from India over forced labour concerns
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    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
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    July 24, 2026
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    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
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    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
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    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
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    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
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    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.
    July 23, 2026
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    Quantum finance innovation will develop secure, AI-enabled banking solutions through collaborative research, startup incubation, cybersecurity enhancement and workforce development.
    Quantum finance innovation is to be advanced through a memorandum of understanding for establishing the PNB Quantum Finance Hub at Amaravati Quantum Valley. The hub will develop, test and support adoption of secure, intelligent and future-ready banking solutions using Quantum Computing and Artificial Intelligence. It will bring together industry, academia, startups and government agencies for research, innovation, incubation and acceleration of financial technologies, focusing on cybersecurity, fraud detection, operational efficiency, risk management and customer experience.
    July 23, 2026
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    Foreign investment in inventory-based e-commerce is allowed only for exports of Indian-made goods, while domestic retail remains prohibited.
    Foreign direct investment in inventory-based e-commerce is permitted exclusively for exports of goods or products manufactured or produced in India. Restrictions on business-to-consumer and inventory-based e-commerce do not apply to these exports, subject to the Foreign Trade Policy 2023 and export regulations. Foreign direct investment in inventory-based e-commerce retailing for domestic sales remains prohibited, with the revised position taking effect upon the relevant foreign exchange notification.
    July 23, 2026
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    Joint Home Loan Eligibility and Shared Repayment Liability Shape Borrowing Capacity, Tax Claims, Documentation, and Exit Planning.
    Joint home loans allow eligible applicants to combine income for a single housing loan, while making every co-applicant fully responsible for repayment. Eligibility depends on each applicant's income, financial obligations, credit history, age, repayment capacity and property criteria. Applicants should agree on EMI sharing, ownership proportions and exit arrangements before applying, as removal of a co-applicant requires lender approval and reassessment. Co-owner borrowers may claim applicable interest and principal repayment deductions subject to ownership, contribution and income-tax requirements. Each applicant must provide separate identity, income and banking documentation.
    July 23, 2026
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    Export competitiveness increasingly depends on regulatory compliance, preferential trade access and diversification into smartphones, medicines, petroleum products and semiconductors.
    India's export potential to 2031 is centred on smartphones, polished diamonds, petroleum products and medicines, with the United States, Hong Kong, Japan, China, Singapore and the United Arab Emirates as important markets. New product opportunities include iron ore concentrates, gasoline vehicles and light petroleum oils. Although selected destinations offer duty-free or preferential access, market entry in mature markets increasingly depends on compliance with non-tariff measures, including registration, quality certification, safety documentation and product standards. Semiconductor-related manufacturing is identified as a long-term opportunity supported by expanding electronics capacity, supply-chain diversification and domestic incentives.
    July 23, 2026
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    Foreign investment in inventory-based e-commerce is permitted exclusively for exports of Indian-manufactured or produced goods under export compliance rules.
    Foreign direct investment in inventory-based e-commerce is permitted exclusively for exports of goods or products manufactured or produced in India. Foreign direct investment remains permitted in business-to-business e-commerce and the marketplace model, while business-to-consumer and inventory-based direct sales to consumers remain prohibited except for the specified export activity. Export-oriented inventory-based operations must comply with the applicable Foreign Trade Policy and foreign exchange regulations governing exports.
    July 23, 2026
    Show AI Summary
    Women's leadership in credit expands through a Chennai community platform supporting mentorship, inclusive lending practices, and financial ecosystem collaboration.
    The Chennai chapter of the 'Credit Goes to HER' initiative provides a platform for women professionals in banking, NBFCs, fintech, housing finance, academia and policy to share knowledge, obtain mentorship and collaborate on inclusive credit practices. It seeks to strengthen women's leadership and participation in the credit ecosystem while supporting responsible lending, financial inclusion, transparency and data-driven decision-making.
    July 23, 2026
    Show AI Summary
    Digital personal-loan campaign combines online collateral-free borrowing, eligibility-based assessment, flexible repayment options and conditional lifestyle rewards for successful disbursals.
    Digital personal-loan campaign permits eligible customers to apply online for collateral-free borrowing and receive specified lifestyle rewards upon successful disbursal, subject to campaign terms. Applicants may check an offer, provide personal, financial and employment information, review loan terms, complete know-your-customer and bank-account verification, and undergo assessment. Interest rates, loan amounts and repayment tenures depend on eligibility, credit profile, income and internal assessment. An EMI calculator supports comparison of repayment options and estimation of monthly instalments before application.
    July 23, 2026
    Show AI Summary
    Foreign-exchange market pressure weakened the rupee as elevated crude prices and risk sentiment drove trading conditions.
    Foreign-exchange market movement saw the rupee depreciate against the US dollar amid elevated crude oil prices linked to heightened West Asia hostilities. Weak domestic equity markets and foreign investor equity outflows contributed to negative sentiment. Market commentary indicated that prospective Reserve Bank of India intervention supported the rupee and could limit sharper depreciation, while shipping-security concerns contributed to elevated oil prices.
    July 23, 2026
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    Homebuyer refund claims in developer insolvency proceed through pro-rata distribution of funds deposited for eligible buyers.
    Homebuyer refund claims connected with demolished residential towers are being considered within the developer's insolvency proceedings. Buyers who have not opted for alternative allotment seek repayment. Eligible refunds are contemplated on a pro-rata basis from funds deposited by the Interim Resolution Professional, subject to the claims process and the availability of deposited funds.
    July 23, 2026
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    Free trade agreement tariff reductions create investment opportunities for Asia-Pacific manufacturers seeking UK and European market access.
    The UK-India Free Trade Agreement is presented as reducing tariffs on advanced machinery and manufacturing-related goods and creating trade and investment opportunities for Asia-Pacific manufacturers seeking UK and European market access. Manchester is promoted as an investment location through its advanced manufacturing cluster, skilled workforce, innovation infrastructure, international links, and available manufacturing and research space. Invest Manchester provides investor support and undertakes international engagement to develop trade, investment and innovation partnerships.
    July 23, 2026
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    Practical legal training and structured internships strengthen judicial examination preparation, professional skills, and career exposure for law students.
    Legal education employability initiatives combine curriculum alignment for judicial and competitive examinations with mentoring, legal drafting practice, research training, and professional interaction. Internships provide practical exposure to courts, judicial institutions, government bodies, law firms, advocates' chambers, corporate legal departments, and non-governmental organisations. Students in integrated and three-year law programmes complete prescribed minimum internship periods, with summer and winter placements commencing after the first year. Specialisation-based internships cover civil, criminal, corporate, cyber, intellectual property, arbitration, taxation, and government or non-governmental legal work.
    July 23, 2026
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    Student fashion showcase celebrates identity, personal storytelling, craft preservation and conscious creation through nine contemporary design collections.
    Student fashion showcase 'Astitva' presented nine contemporary collections exploring identity, belonging, transformation, memory, resilience, grief and cultural heritage through personal design narratives. The collections included a contemporary reinterpretation of Bhujodi weaving, Ajrakh block printing and Kumaoni hand-knitting, emphasising preservation of Indian craft traditions. Recognition included a designer award for the craft-revival collection and a sustainability award for a collection focused on craftsmanship, conscious creation, heirloom design and mindful luxury.
    July 23, 2026
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    Rupee exchange-rate movements face pressure from elevated crude prices and equity outflows, moderated by possible central-bank intervention.
    Rupee exchange-rate movement in early foreign-exchange trading reflected a modest appreciation against the US dollar after depreciation in the preceding session. Possible dollar sales by state-owned banks, widely viewed as central-bank intervention, and a weaker US dollar supported the currency. Elevated crude-oil prices, foreign institutional equity outflows, and negative domestic equity-market sentiment continued to create downside pressure, although expected central-bank support was considered likely to limit losses.

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      Homeland security official says 475 people were detained during an immigration raid in Georgia

      September 6, 2025

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      Ellabell (US), Sep 6 (AP) Immigration authorities said Friday they detained 475 people, most of them South Korean nationals, when hundreds of federal agents raided the sprawling manufacturing site in Georgia where Korean automaker Hyundai makes electric vehicles.

      Steven Schrank, the lead Georgia agent of Homeland Security Investigations, said during a news conference Friday that the raid resulted from a monthslong investigation into allegations of illegal hiring at the site and was the “largest single site enforcement operation” in the agency's two-decade history.

      The Thursday raid targeted one of Georgia's largest and most high-profile manufacturing sites, where Hyundai Motor Group a year ago began manufacturing electric vehicles at a USD 7.6 billion plant.

      The site employs about 1,200 people in an area about 40 kilometres west of Savannah where bedroom communities bleed into farms. Gov Brian Kemp and other officials have touted it as the state's largest economic development project.

      Agents focused their operation on an adjacent plant that is still under construction at which Hyundai has partnered with LG Energy Solution to produce batteries that power EVs.

      Court records filed this week indicated that prosecutors do not know who hired what it called “hundreds of illegal aliens.” The identity of the “actual company or contractor hiring the illegal aliens is currently unknown,” the US Attorney's Office wrote in a Thursday court filing.

      'South Korean government expresses concern' The South Korean government expressed “concern and regret” over the operation targeting its citizens.

      Koreans are rarely caught up in immigration enforcement compared to other nationalities. Only 46 Koreans were deported during the 12-month period that ended September 30, 2024 out of more than 2,70,000 removals for all nationalities, according to Immigration and Customs Enforcement (ICE).

      “The business activities of our investors and the rights of our nationals must not be unjustly infringed in the process of US law enforcement,” South Korean Foreign Ministry spokesperson Lee Jaewoong said in a televised statement from Seoul.

      Lee said the ministry is dispatching diplomats from its embassy in Washington and consulate in Atlanta to the site, and planning to form an on-site response team.

      Immigration attorney Charles Kuck said two of his clients who were detained had arrived from South Korea under a visa waiver programme that enables them to travel for tourism or business for stays of 90 days or less without obtaining a visa.

      One of his clients, he said, has been in the US for a couple of weeks, while the other has been in the country for about 45 days. He did not provide details about the kind of work they were doing but said they had been planning to go home soon.

      Schrank told reporters in Savannah that while some of the detained workers illegally crossed the US border, others had entered the country legally but had expired visas or had entered on a visa waiver that prohibited them from working.

      He said some of those detained worked for the battery manufacturer, while others were employed by contractors and subcontractors at the construction site.

      Schrank said he didn't know precisely how many of the 475 detained were Korean nationals, but that they made up a majority. No one has yet been charged with any crimes, he said, but the investigation is ongoing.

      South Korea's Foreign Minister Cho Hyun said Saturday that more than 300 South Koreans were among the 475 people detained.

      “This was not an immigration operation where agents went into the premises, rounded up folks, and put them on buses,” Schrank said. “This has been a multimonth criminal investigation where we have developed evidence and conducted interviews, gathered documents and presented that evidence to the court in order to obtain a judicial search warrant.” He said most of the detainees were taken to an immigration detention centre in Folkston, Georgia, near the Florida state line.

      Trump administration has undertaken sweeping ICE operations President Donald Trump's administration has undertaken sweeping ICE operations as part of a mass deportation agenda. Immigration officers have raided farms, construction sites, restaurants and auto repair shops.

      The Pew Research Centre, citing preliminary Census Bureau data, says the US labour force lost more than 1.2 million immigrants from January through July. That includes people who are in the country illegally as well as legal residents.

      The Democratic Party of Georgia on Friday condemned the raid, with its chair, Charlie Bailey, calling the raids, “politically-motivated fear tactics designed to terrorise people who work hard for a living, power our economy and contribute to the communities across Georgia that they have made their homes." Kemp and other Georgia Republican officials, who had courted Hyundai and celebrated the EV plant's opening, issued statements Friday saying all employers in the state were expected to follow the law.

      The Hyundai site sits on 3,000 acres (1,214 hectares) in a largely rural area of Bryan County, drawing in workers from several surrounding counties and communities including Savannah.

      Sammie Rentz opened the Viet Huong Supermarket less than 4.8 kilometres from the Hyundai site six months ago. The store sells both American and Asian products, he said, but he mostly relies on Hyundai workers seeking foods imported from Korea.

      “Koreans keep this store running,” said Rentz, who worries business may not bounce back after falling off sharply since the raid. “I'm concerned. Koreans are very proud people, and I bet they're not appreciating what just happened. I'm worried about them cutting and running, or starting an exit strategy.” Ellabell resident Tanya Cox, who lives less than a mile from the Hyundai site, said she had no ill feelings toward Korean nationals or other immigrant workers at the site. But few neighbours were employed there, and she felt like more construction jobs at the battery plant should have gone to local residents.

      “I don't see how it's brought a lot of jobs to our community or nearby communities,” Cox said. “Where we used to hear birds chirping and animal life around here, now we hear the plant when it's fully going at night.” Hyundai began producing electric vehicles at the site last September. A few months later, Hyundai Motor Group Executive Chairman Euisun Chung during a White House appearance with Trump credited the president with the company's decision to create more American jobs by building an EV factory in Georgia.

      “Our decision to invest in Savannah, Georgia, creating more than 8,500 American jobs, was initiated during my meeting with President Trump in Seoul in 2019,” Chung said at the March event.

      Battery plant slated to open next year The battery plant operated by HL-GA Battery Co, a joint venture by Hyundai and LG Energy Solution, is slated to open next year.

      In a search warrant and related affidavits, agents said they wanted employment records for current and former workers; personnel files; payroll information; bank account information; timecards; video and photos of workers; and immigration documents.

      Social Security cards, visas, passports and birth certificates also were targeted. The agents also sought records about the ownership and management of multiple construction companies and contractors named in the search warrant materials.

      The documents included the names and photos of four people identified as “target persons” to be searched, without further information about them.

      In a statement to The Associated Press, LG said it was “closely monitoring the situation and gathering all relevant details.” It said it couldn't immediately confirm how many of its employees or Hyundai workers had been detained.

      Operations at Hyundai's EV manufacturing plant weren't interrupted by the raid, said plant spokesperson Bianca Johnson.

      Hyundai Motor Company said in a statement Friday that none of its employees had been detained as far as it knew. The company said it would review its practices to make sure suppliers and subcontractors follow US employment laws.

      “Hyundai has zero tolerance for those who don't follow the law,” the company's statement said.

      HL-GA Battery Co did not immediately respond to a request for comment Friday.

      In a statement Thursday, the company said it's “cooperating fully with the appropriate authorities.” Those arrested Thursday who fight deportation may be detained as their cases wind through immigration court. The number of people in ICE custody topped 60,000 in August, an all-time high. (AP) NPK NPK

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