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August 25, 2026
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Retaliatory tariffs on imported goods escalate trade measures, targeting key sectors while maintaining support for affected domestic businesses.
Canada has imposed retaliatory tariffs on United States-origin industrial and consumer goods following increased United States tariffs on Canadian goods. Effective 8 September, the measures apply at rates of 15%, 25% and 50% across more than 700 products, including steel, aluminium, appliances, dairy products, seafood, furniture, clothing, pulp and paper, and electronics. Existing countertariffs on automobiles remain in force. The measures seek to protect domestic businesses and reduce imports, supported by assistance for affected workers and businesses amid risks to integrated cross-border supply chains.
August 25, 2026
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Foreign-exchange market intervention and lower crude prices supported rupee appreciation, while USD/INR remained range-bound amid shifting dollar conditions.
Foreign-exchange market conditions supported rupee appreciation against the US dollar, driven by stronger domestic equity markets, a weaker US dollar and lower crude oil prices. The USD/INR pair remained broadly range-bound, with oil-price movements and Reserve Bank intervention identified as key near-term influences. The special USD-INR foreign-exchange swap facility for FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings mobilised substantial foreign-exchange inflows.
August 25, 2026
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Section 301 tariffs may have lower impact where major exports remain outside their scope amid resilient domestic demand.
Economic resilience is attributed to buoyant domestic demand, increased manufacturing and services activity, improving liquidity conditions, credit growth, investment activity and rebounding foreign capital inflows. Recovery in the southwest monsoon improved kharif sowing and reservoir storage, partly mitigating agricultural-sector risks. US Section 301 tariffs are expected to have a comparatively lower effect because major Indian exports to the United States, including smartphones, petroleum products and pharmaceuticals, remain outside their scope. Foreign direct investment improved with higher gross inflows, while outward foreign direct investment continued to decline.
August 25, 2026
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BIS certification exemptions may be structured for high-tech manufacturers to ensure timely equipment imports and support domestic manufacturing operations.
Mandatory Bureau of Indian Standards (BIS) certification requirements for equipment and components used by high-technology manufacturers may be addressed through a proposed exemption framework. Possible exemptions may be structured at the company, industry, product, project or bulk level to support timely availability of imported equipment, goods and services for manufacturing operations. The approach is directed at high-technology industries generally, particularly semiconductor and artificial intelligence sectors, while addressing delays associated with mandatory certification and complex procedures for specialised imported parts and equipment.
August 25, 2026
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Corporate social responsibility should prioritise measurable community outcomes, transparency, capable implementing agencies, and strategic integration with sustainability objectives.
Corporate social responsibility should prioritise measurable community outcomes rather than expenditure alone. Effective CSR depends on community-responsive design, capable implementing agencies, rigorous monitoring, social audits, and transparent use of technology and data. Public sector enterprises may use thematic priorities, convergence with government programmes, and institutional collaboration to replace isolated interventions with strategic CSR. CSR capacity building encompasses legal and regulatory frameworks, governance, project planning, impact assessment, reporting, ESG and the Social Stock Exchange.
August 25, 2026
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Regional rural bank performance highlights improved profitability, asset quality, priority-sector lending, financial inclusion, and digital banking expansion.
Regional Rural Banks achieved prescribed priority-sector lending targets and sub-targets, expanded financial inclusion through new Pradhan Mantri Jan Dhan Yojana accounts, and recorded improvement in profitability, asset quality, and credit-deposit ratio. Digital banking adoption is to be accelerated to improve operational efficiency, customer experience, and banking access in rural and remote areas. Sponsor Banks are expected to strengthen information-technology infrastructure and support increased area-specific credit flows and innovative lending.
August 25, 2026
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Ethanol-blended fuel policy faces calls for consumer-focused review amid sugar supply pressures and older-vehicle compatibility concerns.
Consumer-focused review of the ethanol-blended fuel policy is sought because higher ethanol diversion may affect domestic sugar availability and prices, potentially requiring sugar imports that could reduce claimed foreign-exchange savings from lower petroleum imports. The review should address ethanol and sugar production, domestic prices, imports, and consumer, environmental and economic concerns. Availability of lower-blend fuel alongside E20 is advocated for owners of older vehicles, with consumer choice between E10 and E20 supporting a comprehensive reassessment.
August 25, 2026
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Economic resilience remains supported by domestic demand, manufacturing, liquidity and capital inflows despite external trade and geopolitical risks.
Economic resilience is attributed to buoyant domestic demand, sustained manufacturing and services activity, and double-digit merchandise trade growth. Improved southwest monsoon conditions supported kharif sowing and partly reduced agricultural risks, although geopolitical frictions and fresh United States tariffs remained external risks. Supply-side pressures raised consumer price inflation, while stable core inflation indicated limited cost pass-through. Easing liquidity, credit growth, investment activity and rebounding foreign capital inflows supported financial and external-sector conditions.
August 25, 2026
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Sugar price controls combine raw sugar imports, stockholding limits, and export restrictions to curb retail inflation.
Sugar market intervention combines permitted imports of raw sugar, stockholding limits for dealers and bulk consumers, and an existing export ban to address sharp increases in retail and wholesale prices. Limits on inventories held by trade participants and large industrial consumers are intended to curb speculation and hoarding. Although ex-mill rates declined after the import decision and anti-hoarding measures, the reduction had not yet translated fully into retail prices. The measures seek to supplement domestic availability and restrain practices that may intensify consumer-price increases.
August 25, 2026
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Tariff escalation drives retaliatory planning, industry protection measures, supply-chain uncertainty, and proposed symbolic geographic renaming amid cross-border trade tensions.
United States-Canada trade tensions have intensified after tariffs were imposed on Canadian goods following unsuccessful bilateral talks. Canada is expected to pursue retaliatory measures, potentially using targeted action to protect workers and businesses rather than matching tariffs directly. Further tariff threats concern vehicles, auto parts and steel. Integrated cross-border supply chains in automotive, energy, agriculture and manufacturing face increased costs and consumer-price uncertainty. Consideration of renaming Lake Ontario as "Lake America" has also been linked to the escalating dispute.
August 25, 2026
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Central infrastructure monitoring through PAIMANA-PROJ tracks implementation progress, sectoral priorities, completed works, and integration of newly monitored projects.
PAIMANA-PROJ monitors Central Sector infrastructure projects costing Rs. 150 crore and above across 17 Ministries and Departments. As of July 2026, 1,775 projects with a revised cost of Rs. 37.11 lakh crore were under monitoring, with cumulative expenditure of Rs. 19.26 lakh crore. Transport and Logistics formed the largest monitored sector, followed by Energy. The portfolio included mega and major projects at varying physical and financial completion stages. PAIMANA-CRIP serves as the central infrastructure-project data repository, with most data updated through APIs.
August 25, 2026
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Plant growth regulator quality controls require farmer awareness, licensed sales, quarantine compliance, and protection against uncertified orchard inputs.
Plant Growth Regulator quality control seeks to protect farmers and orchardists from spurious products sold in the open market. Licensed pesticide and fungicide outlets receive application schedules, while farmer awareness is stressed due to purchases of cheaper PGRs that may not achieve expected results. Rootstock imports require quarantine clearance, and uncertified rootstock purchased from the market is associated with disease spread in orchards. Regulatory measures include direct departmental sale of branded chemicals, promotion of weather-based crop insurance, and demands concerning minimum support pricing and Market Intervention Scheme documentation.
August 25, 2026
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Anti-conversion compliance prompts voluntary prayer declarations, alongside food-safety oversight and enforcement against demolition, liquor, and cyber-fraud allegations.
Maharashtra's anti-conversion law has commenced, and churches across the Mumbai Metropolitan Region have sought written self-declarations confirming voluntary prayer attendance without pressure. Food-safety oversight requires cleaning of cricket association eateries before a further inspection. Enforcement matters include investigation into unauthorised shop demolitions allegedly involving misuse of a municipal corporation's name, arrests connected with spurious-liquor manufacture, and a cyber-fraud network allegedly using mule accounts to launder proceeds. A retired High Court judge has been appointed as Lokayukta.
August 25, 2026
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User development fee rationalisation reduces departure charges and links airport cost recovery to commissioned capital projects during the tariff cycle.
Airport tariff regulation for Hyderabad airport fixes reduced User Development Fee for departing domestic and international passengers from 1 September 2026 through 31 March 2031, with rationalised landing charges. The tariff determination applies the incremental Aggregate Revenue Requirement framework, linking airport-charge cost recovery to completion, commissioning and use of identified high-value capital expenditure projects. A variable tariff plan provides landing-charge incentives upon prescribed qualifying conditions, supporting traffic development and route expansion while requiring cost-reflective, transparent and non-discriminatory aeronautical tariffs.
August 25, 2026
Show AI Summary
Rupee appreciation reflects weaker dollar, lower crude prices, positive equities, and foreign-exchange inflows through swap facilities.
Foreign-exchange market conditions supported the rupee's appreciation against the US dollar, driven by positive domestic equity markets, a weaker dollar, and declining crude-oil prices. The USD/INR pair remained within a narrow range, with oil-price movements and potential central-bank intervention identified as near-term determinants. A special USD-INR foreign-exchange swap facility covering FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings had mobilised foreign-exchange inflows relevant to currency liquidity.
August 25, 2026
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Energy supply diversification reshapes India's LPG, LNG and crude sourcing amid constrained Gulf availability and higher logistics costs.
India's energy-import sourcing has shifted towards supply diversification as disruption in the Strait of Hormuz constrained traditional Gulf supplies. United States cargoes have become particularly important for LPG and LNG, while procurement has also broadened to Atlantic Basin and other non-traditional suppliers. Diversification increases costs through longer voyages, higher freight, insurance expenses, tighter availability and higher commodity prices, reflecting a premium for supply security. Crude sourcing continues to rely principally on Russia, alongside resilient UAE flows and increased Venezuelan heavy crude imports.
August 25, 2026
Show AI Summary
Intelligence-led enforcement against illicit trade requires coordinated data-sharing, risk profiling, digital accountability and disruption of organised supply networks.
Cross-border illicit trade enforcement should move beyond isolated seizures to intelligence-led disruption of organised criminal networks. Risk-based profiling, predictive analytics, container scanning and shipment-data analysis should support targeted action against misdeclaration, port-hopping, concealment and digital distribution. Right holders should share specific intelligence with customs targeting mechanisms, and goods entering Domestic Tariff Areas from warehousing and special economic zones require enhanced examination. Digital enforcement should trace suppliers, financial flows, data trails and small-parcel movements, supported by coordinated feedback between online marketplaces, police and customs.
August 25, 2026
Show AI Summary
NRI banking account segregation aligns overseas earnings, domestic income, foreign-currency savings, remittances, and borrowing with cross-border commitments.
NRI banking arrangements require segregation of overseas earnings, India-sourced income, savings, remittances and expenditure after residential status changes. An NRE account holds overseas income remitted to India, with interest exempt from income tax in India. An NRO account is intended for Indian income, including rent, dividends and pension, while FCNR deposits retain funds in a chosen foreign currency. A structured arrangement can align these accounts with domestic obligations, overseas spending, remittances, investments and compliant digital banking access.
August 25, 2026
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Sugar import authorisation and anti-hoarding controls aim to moderate ex-mill prices amid adequate domestic stocks.
Raw sugar imports were permitted, while stock limits were imposed on bulk consumers. States were directed to strengthen inspections, and nationwide flying squads were deployed to identify hoarding and speculative conduct. These measures target sugar availability and distribution across wholesale and retail channels. Ex-mill prices declined following the measures, although wholesale and retail prices had not yet reflected the reduction.
August 25, 2026
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Foreign-currency swap window closure focuses non-resident deposit mobilisation, while ECB hedging support continues for public-sector borrowers.
RBI's concessional Foreign Currency Non-Resident Bank deposit swap window closes on August 31, replacing the previous September 30 cut-off. Separately, the special US dollar-rupee foreign-exchange swap window remains available until December 31, 2026, providing concessional currency-hedging support to public sector undertakings raising external commercial borrowings. SBI expects to mobilise predominantly through deposits from non-resident Indians and foreign investors, with external commercial borrowings also visible.

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Customs & Trade

India and US 'not that far apart' on trade deal: US ambassador-designate Gor

September 11, 2025

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New York/Washington, Sep 11 (PTI) US ambassador-designate to India Sergio Gor on Thursday said India's protectionist policies and regulatory barriers have prevented Washington from fully realising its partnership with Delhi, and if confirmed, he will work to advance trade that is fair, reciprocal and beneficial to Americans.

At his confirmation hearing in the Senate Foreign Relations Committee, Gor also said that India and the US are “not that far apart” right now on a trade deal.

"India is a strategic partner whose trajectory will shape the region and beyond,” Gor said as he underlined that he is committed to advancing America's interest in this "important" partnership.

Noting that India and the US are actively negotiating right now, Gor said President Donald Trump has invited their commerce and trade ministers next week, and they will be meeting with US Trade Representative Ambassador Jamieson Greer in Washington.

"Part of that will include hopeful, a hopeful deal. We are not that far apart right now on a deal. In fact, they're negotiating the nitty-gritty of a deal,” Gor said.

“We expect more from India than we do sometimes from other nations. I do think it will get resolved over the next few weeks,” he said.

Gor underlined that President Trump has a “deep friendship” with Prime Minister Narendra Modi, and that is something that is unique.  “In fact, if you have noticed, when he has gone after other nations, he tends to go after their leaders for putting us in that position, and for the US imposing those tariffs. When the President has been critical of India, he has gone out of his way to compliment PM Modi. They have an incredible relationship,” he said.

He stressed again that “We're not that far apart on a deal already on these tariffs… Getting India to stop buying Russian oil is a top priority for this administration." "I think the time will arrive upon us in the next few weeks, the next few months, for all of this to get resolved,” Gor said.

Gor said that in the past, India's "protectionist policies and regulatory barriers have prevented us from fully realising this partnership. If confirmed, I'll work to advance trade that is fair, reciprocal and beneficial to the American workers and businesses." “Improving US-India trade ties will not only bolster US competitiveness, but also reduce China's economic leverage over other nations,” Gor said.

“If confirmed, I will work to increase American energy exports to India, establishing the US as a leading supplier of crude oil, petroleum products and liquefied natural gas,” he said.

When confirmed, 38-year-old Gor will be the youngest US ambassador to India.

"India's role in ensuring the stability and security of the region cannot be understated. A stable South Asia is in the interest of the US and all the nations,” he said, adding that the US-India partnership will define the 21st Century.

"It is only by working together that we can make that aspiration a reality.” He said India's geographic position, economic growth and military capabilities make it a “cornerstone” for regional stability and a critical part of promoting prosperity and advancing the security interests that the two nations share.

"I will work to deliver on the presidential agenda and advance US interests by increasing our defence cooperation, ensuring fair and beneficial trade, deepening energy security and furthering technology,” Gor said.

He underscored that if confirmed, he will prioritise deepening defence and security cooperation with India. “This includes expanding joint military exercises, advancing co-development and co-production of defence systems and concluding critical defence sales,” he said.

He added that these efforts will enhance collaboration between “our forces while supporting American defence manufacturers and making America more prosperous.” From artificial intelligence to pharmaceuticals to critical minerals, the potential for collaboration between the two countries is vast, Gor said, adding that he will advocate for reforms that will make India's markets more accessible and transparent.  “I will also work towards President Trump's ambitious goal dubbed ‘Mission 500’ to double bilateral trade to $500 billion by 2030, which will expand American exports, creating jobs and prosperity for our citizens,” he said.

He said he will encourage Indian investment in US manufacturing capacity, and “we will also be furthering with Indian investments in the United States. We'll also be furthering our strategic pharmaceutical supply chain and create more jobs right here at home in the US.”  India is also a strategic partner in advancing critical and emerging technology. The US-India Trust Initiative, launched in February by President Trump and Prime Minister Modi, lays out a path to leverage the impressive capacity of the US tech sector to outcompete China on the development of AI, quantum, semiconductors and other critical and emerging technologies, he said.  He said he will also advance this administration's AI Action Plan, which will ensure the dominance of American AI technology in India and globally. “Our technology cooperation will require significant energy resources, another area where the United States and India can work together,” he said.

He noted that India shares a lot more in common with the US than they do with China, and "for far too long, we have not had that personal touch. And not only will I be able to bring that to New Delhi, but the President is also extremely personally engaged.” "While we might have our moment of hiccups right now, we are on the track of resolving that. Our relationship with the Indian government, with the people of India extends many more decades, and it's a much warmer relationship than they have with the Chinese,” Gor said.

“Frankly, they (India) are concerned by Chinese expansionism, and Chinese expansionism is not just on the border of India, it's all over the area," he said, adding if confirmed, he will make it a "top priority that India is pulled into our side and away from them (China).” Gor referred to Trump’s complimentary comments for Prime Minister Modi and said the Indian leader responded in kind. "We have a great foundation that I hope, if I am confirmed, to build upon.” Replying to a question on the BRICS, Gor said, "Indians have been on our side on various issues within BRICS, including several individuals in BRICS - Brazil, China have pushed for years to move away from the US dollar. India has been the stopgap for that. India is much more willing and open to engage with us than… those other individuals that are in BRICS.” When asked about India’s purchases of Russian oil and how he views India's choice in light of US tariffs and America's strategic goals, Gor said President Trump has been crystal clear on this. "They must stop buying Russian oil.” PTI YAS ZH ZH

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