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    NEWS HIGHLIGHTS
    India's forex kitty swells by USD 10.5 bn to USD 692.87 bn
    Rs 5,000 cr credited to 6.22 lakh Maharashtra farmers so far under loan waiver scheme: Fadnavis
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    China's exports slow slightly in July despite robust demand for high-tech products
    India successfully concludes the Tenth BRICS Industry Ministers' Meeting in Jaipur under its BRICS Chairship 2026
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    Office of the Controller General of Patents, Designs and Trade Marks Announces Tentative Schedule for Patent and Trade Marks Agent Examinations 2027 a...
    RBI invites comments on the draft “Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Amendment Directions, 2026”
    West Bengal seeks 100pc foodgrain, 40pc sugar jute packaging quota at SAC meeting
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August 7, 2026
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Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.
August 7, 2026
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Foreign exchange reserves rose as foreign currency assets, gold holdings, Special Drawing Rights and IMF reserve position increased.
India's foreign exchange reserves increased during the week ended July 31, principally because of higher foreign currency assets and gold reserves. Foreign currency assets include US dollar valuation effects arising from movements in currencies such as the euro, pound and yen. Special Drawing Rights and India's reserve position with the International Monetary Fund also increased. The movement followed measures to attract foreign exchange inflows, including an FCNR(B) measure, after earlier reserve declines associated with rupee pressure and dollar sales for foreign exchange market intervention.
August 7, 2026
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Farm loan waiver eligibility depends on verified beneficiary status and Aadhaar authentication for direct credit of eligible crop-loan relief.
The farm loan waiver scheme covers eligible short-term crop loans within the prescribed ceiling and eligibility period. Waiver amounts are credited to verified bank accounts after field verification and completion of Aadhaar authentication. Aadhaar authentication is the operative condition for automatic processing of benefits, while eligibility rules and technical conditions have raised concerns about exclusion of distressed farmers.
August 7, 2026
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Corporate agency distribution expands access to life insurance products, supporting insurance awareness, financial inclusion and long-term household financial protection.
A corporate agency arrangement enables J&K Bank to distribute SBI Life Insurance protection, savings, retirement and child-oriented life insurance plans through its branch network. The partnership aims to improve insurance access, awareness, financial literacy and long-term financial planning for households, particularly in Jammu & Kashmir and Ladakh. It is intended to expand insurance penetration, strengthen household financial protection and support financial inclusion in line with the IRDAI vision of "Insurance for All by 2047".
August 7, 2026
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Cross-border smuggling controls target narcotics, poppy seeds and areca nuts entering through the Indo-Myanmar border region.
Cross-border smuggling enforcement targeted methamphetamine, foreign-origin poppy seeds and areca nuts allegedly brought from Myanmar. Methamphetamine concealed in an ambulance was seized under the NDPS Act, 1985. Poppy seeds and areca nuts recovered in separate operations were seized under the Customs Act, 1962. Poppy-seed imports are restricted to designated countries and require registration to ensure traceability and prevent illicit produce entering legitimate supply chains. The enforcement action addresses circumvention of customs controls and regulated import requirements.
August 7, 2026
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Direct benefit transfer for welfare pensions replaces cooperative-bank doorstep delivery, while retaining limited home service for excluded beneficiaries.
Direct Benefit Transfer for social security and welfare pensions is to be made through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep delivery. Home delivery remains available for bedridden persons and others who cannot be excluded. The change is associated with delays in remitting undistributed amounts, record-update failures, reconciliation issues, duplicate payments, and incomplete Aadhaar-based payment implementation. Concerns have been raised that mandatory bank-account credit may disadvantage beneficiaries dependent on doorstep delivery.
August 7, 2026
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Direct Benefit Transfer for welfare pensions replaces doorstep cooperative-bank delivery, while home delivery remains for bedridden beneficiaries.
Direct Benefit Transfer of social security and welfare pensions is to be made mandatory through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep distribution. Home delivery continues for completely bedridden beneficiaries and others who cannot be excluded. The change addresses delays in remitting undistributed amounts, record-update and reconciliation deficiencies, duplicate payments linked to incomplete Aadhaar-based payments, delivery incentive costs, and the need to comply with Direct Benefit Transfer norms to avoid loss of central financial assistance.
August 7, 2026
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Customs trade data show moderating July growth while high-technology exports, vehicles and advanced manufacturing supplies remain strongly supported.
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August 7, 2026
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BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
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August 7, 2026
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Certified organic export promotion: BIOFACH INDIA facilitates buyer-seller engagement, certification awareness, traceability discussions and international market access.
BIOFACH INDIA 2026 promotes certified organic exports by providing a platform for Indian organic enterprises to showcase diverse certified products and engage with overseas buyers through structured Buyer-Seller Meets. Technical sessions address organic certification, traceability, sustainability, quality standards, international regulatory requirements and export-market expectations. The initiative supports quality assurance, international market access, export linkages and sustainable agricultural practices across the organic value chain.
August 6, 2026
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Device-based loan recovery restrictions protect essential mobile functions while permitting gradual locking only for lender-financed devices.
Technology-based recovery mechanisms cannot restrict or disable a borrower's mobile device unless the bank financed acquisition of that device. Where permitted, banks must adopt a gradual approach and preserve essential functions, including incoming calls, SMS access, and emergency SOS features. Regulated entities and service providers must obtain manufacturer or operating-system certification for device-locking technology. Disclosure of borrower or guarantor information to recovery personnel must be limited to what is necessary for loan-recovery duties.
August 6, 2026
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Bilateral trade agreement negotiations should secure tariff certainty, protect key exports, strengthen supply chains, and support vulnerable small industries.
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August 6, 2026
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Ethanol imports for fuel blending remain excluded from trade commitments, with domestic producers continuing to supply the blending programme.
Ethanol imports for fuel blending remain outside concessions or commitments in India-US trade discussions. Under the Ethanol Blended with Petrol Programme, ethanol procurement is governed solely by domestic policy requirements and is sourced entirely from domestic producers. Claims of existing or intended large-scale ethanol imports from the United States for fuel blending, or of a policy change permitting them, are stated to be baseless.
August 6, 2026
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Domestic ethanol sourcing for fuel blending continues unchanged, with no import commitments or concessions involving United States ethanol.
Ethanol used for fuel blending under the Ethanol Blended with Petrol Programme is sourced entirely from domestic producers, with no imports from the United States for that purpose. No concessions or commitments on importing United States ethanol for fuel blending have been made in trade discussions. Fuel blending and ethanol procurement continue to be governed solely by domestic policy requirements, and claims of a policy change allowing large-scale imports are incorrect.
August 6, 2026
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Patent and trade marks agent qualification examinations require written-paper minimums, aggregate passing scores, and viva voce assessment for registration.
Patent and trade marks agent examinations comprise an objective Paper I, a descriptive Paper II and a viva voce assessing suitability to practise before the Intellectual Property Office. Candidates must secure the stipulated minimum marks in each written paper and the required aggregate score to pass. Registration in the relevant Register of Patent Agents or Register of Trade Marks Agents is available only to candidates who satisfy all prescribed eligibility conditions and qualify the examination.
August 6, 2026
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Draft NBFC credit-facilities amendments open for stakeholder consultation through designated online and email feedback channels.
Draft amendments to the Non-Banking Financial Companies credit-facilities framework have been released for public consultation. Regulated entities and other interested stakeholders may submit comments or feedback through the 'Connect 2 Regulate' platform or by email using the specified subject line.
August 6, 2026
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Mandatory jute packaging reservations were urged to protect cultivators, mill workers, crop absorption, and environmentally sustainable packaging.
Mandatory jute packaging reservations were sought to be retained at full coverage for foodgrains and increased for sugar packaging for the forthcoming Jute Year. The submission before the Standing Advisory Committee emphasised absorption of bumper jute output, remunerative prices for cultivators, uninterrupted mill operations, and protection of farm and worker livelihoods. It also stressed that biodegradable jute bags offer an environmentally friendly alternative to HDPE and polypropylene woven sacks, and that dilution of compulsory packaging could undermine plastic-pollution reduction efforts.
August 6, 2026
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NBFC Upper Layer classification imposes enhanced regulation and listing obligations, while de-registration applications remain under examination.
NBFC Upper Layer classification subjects identified large non-banking financial companies to enhanced regulatory requirements for at least five years and requires stock-exchange listing within three years of identification. The framework divides NBFCs into Base, Middle, Upper and Top Layers. Seventeen large NBFCs were included in the Upper Layer list, while Tata Sons' classification remains subject to the pending examination of its de-registration application.
August 6, 2026
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Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.
August 6, 2026
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Public grievance redressal strengthens through monitoring, senior review, workshops, stakeholder coordination, and customer-centric service delivery improvements.
Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.

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Customs & Trade

Forging India's Defence Future: Advancing Artillery Shell Manufacturing for Strategic Self-Reliance

September 11, 2025

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Pune, Maharashtra, India (NewsVoir) India’s defence manufacturing sector is undergoing a pivotal transformation, and at the heart of this shift lies a capability that often goes unnoticed but is mission-critical - artillery shell manufacturing. These components, though rarely in the spotlight, form the very foundation of India’s ammunition strength. Their production is a matter of national security, industrial progress, and strategic autonomy.

In FY 2023-24, India’s defence production soared to approximately Rs. 1.27 lakh crore, showing the highest-ever rise in output, with PSUs contributing nearly 79% and the private sector about 21% Wikipedia. Further, in FY 2024–25, annual defence output jumped even higher to Rs. 1,50,590 crore, marking a new record The Times of India.

Forging Strength: Why Artillery Shells Matter Artillery remains the backbone of conventional warfare. According to AP News, Ukraine fires around 4,000-7,000 artillery shells daily, while Russia fires over 20,000 AP News. Bomb shells are not merely metal casings - they must withstand intense pressures during handling, firing, and detonation. A single flaw can compromise safety and effectiveness, making forging - whether cold, hot, or isothermal - indispensable for ensuring internal structural integrity. This process ensures the resulting shells offer maximum strength, fatigue resistance, and dimensional accuracy.

India’s Modernization Journey in Shell Production Despite the high stakes, India’s artillery shell output remains comparatively modest - though exact production numbers are not publicly detailed, the escalation in defence output and renewed policy focus suggests a significant push is underway.

Traditionally, shell manufacturing in India relied on manual forging, semi automation, and labor-intensive machining. Now, a shift is underway - embracing hydraulic forging presses, hot/die-forging systems, CNC machining, robotic handling, and digital inspection. This transition is steering the sector toward precision, consistency, and the global quality benchmarks needed for modern warfare.

Global Comparisons & Strategic Gaps Globally, shell production is being ramped up significantly: • In March 2023, the EU committed €2 billion (about $2.2 billion) to procure 1 million 155mm shells for Ukraine within a year Defense One.

• NATO also signed a $1.2 billion contract for 220,000 rounds of 155mm shells, acknowledging urgent needs, given Ukraine’s and Russia’s massive daily artillery usage AP News.

• Examples of accelerating production: Europe’s artillery shell output is projected to hit 2 million rounds by end of 2025 YahooIr-Ia.

• Rheinmetall, backed by EU funding (€130 million), aims to scale up to 1.1 million shells annually by 2027 The Wall Street Journal.

By comparison, India must upscale production capabilities swiftly to meet both national demand and emerging export opportunities.

Policy Support & Export Potential India’s burgeoning defence output indicates growing capacity and confidence. According to Reuters, India produced $14.8 billion worth of arms in FY 2023-24, a 62% increase since 2020. Indian-made 155mm artillery shells have even appeared on the frontlines in Ukraine Reuters - highlighting both cost-effectiveness and export competitiveness (priced at just $300–400 per shell) Defence Blog.

These developments reflect India’s potential to tap into global demand. With rising international orders and India’s cost advantage, expanding production could position the country as a reliable global supplier.

Technology & Sustainability: The Next Frontier Manufacturing innovation now goes beyond precision - it includes sustainability. European firms, for example, are investing in automation to boost output while cutting energy and waste. India should mirror this by incorporating energy-efficient presses, optimized die processes, AI-based defect detection, digital twins, and real-time analytics.

Building Human Capital Behind every machine is a skilled workforce. India has launched Make in India and Liberalization initiatives - by October 2022, the MoD had issued over 6,000 industrial licences, with ~20% for guns and cartridges KPMG. Coupled with schemes like PMKVY and institutional alliances (e.g., via AICTE), these efforts are building technical expertise in forging, CNC, and digital manufacturing.

A Strategic Asset for the Future To ensure artillery shell production becomes both a strategic asset and economic opportunity, India must: 1. Develop a forging capacity that can meet both domestic defense needs and export demand.

2. Embrace Industry 4.0 technologies to move toward precision, sustainability, and zero-defect output.

3. Invest in public–private collaboration and production clusters to accelerate scaling.

4. Expand human capital through focused training and skill development.

Conclusion Artillery shells are often invisible in the broader narrative of defence capability - yet they are essential. Forging them with precision, reliability, and sustainability through modern technologies and skilled manpower is India’s path toward strategic autonomy.

With defence output already setting records - and cost-competitive artillery shells reaching global theatres - India has both the mandate and momentum. The shells we forge today are not merely engineering products - they are symbols of India’s resilience, strength, and self-reliance.

Sources • Indian defence output: Rs. 1.27 lakh crore (FY 2023–24) Wikipedia; Rs. 1.50 lakh crore (FY 2024–25) The Times of India • Ukraine & Russia rate of shell use (AP News) AP News • EU shell funding initiatives €2 bn → 1 million shells Defense One • EU production target: 2 million shells in 2025 YahooIr-Ia • Rheinmetall EU funds (€130 M) and 1.1 million shells by 2027 The Wall Street Journal • India arms output $14.8 bn FY 2023–24, shell cost $300–400 ReutersDefence Blog • MoD licences for defence manufacturing (guns & cartridges ~20%) KPMG Authored by Nitin Mehra, President - Precision Engineering Technologies.

(Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR

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