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    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
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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
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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
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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
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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.
August 1, 2026
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Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
July 31, 2026
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Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
July 31, 2026
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Greenfield airport development under a public-private partnership advances licensed international passenger, cargo, logistics, and sustainable infrastructure.
A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.
July 31, 2026
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Regulatory and legal developments cover trade measures, legislative action, offshore exploration support, court directions and platform algorithm scrutiny.
The compilation reports proposed United States tariff measures concerning purchasers of Russian oil and gas, India-United Kingdom trade engagement, extension of farmer-support measures, and approval of offshore exploration support. It also covers passage of the Registration of Births and Deaths (Amendment) Bill, 2026, a privilege-motion notice, a criminal sentencing, and directions to appoint a nodal officer for families affected by the Russia-Ukraine war. Regulatory items include industrial credit data and examination of social-media algorithms, bias and public-order implications.
July 31, 2026
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Russian oil purchases may trigger proposed targeted tariffs, with periodic reassessment based on countries' purchasing behaviour.
Proposed United States measures would authorise sanctions against Russia and persons supporting its war in Ukraine, while permitting targeted tariffs on imports from countries purchasing substantial volumes of Russian oil or gas or facilitating sanctions evasion. The framework identifies major purchasers and shadow-fleet facilitators for possible additional tariffs and provides for periodic reassessment and tariff adjustments based on purchasing behaviour. India stated that its energy-security policy rests on national priorities and diversified energy sources.
July 31, 2026
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Money-laundering proceedings face challenge over absent predicate offence, alleged lack of criminal intent, and treatment of related FIRs.
Money-laundering proceedings linked to alleged diversion of homebuyer funds are challenged on the ground that no scheduled offence or criminal intent is attributable to the petitioner. The petitioner relies on his asserted exoneration in two predicate FIRs, where charge sheets did not name him, and settlement of the remaining FIR. Notice was issued for a response and status report, and the petitioner undertook to cooperate with the investigation.
July 31, 2026
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Rupee appreciation reflected foreign capital inflows and central bank support, tempered by crude prices and geopolitical tensions.
Rupee appreciation against the US dollar was linked to sustained foreign capital inflows and Reserve Bank support through dollar selling. Higher crude oil prices, a stronger US dollar and geopolitical tensions in West Asia constrained further gains. A slightly positive near-term rupee bias was associated with softer dollar conditions, dovish US monetary expectations, favourable global markets and improved foreign inflows, while geopolitical risks remained relevant. Domestic equity indices rose, foreign-exchange reserves increased, and fiscal-deficit data showed the central government's position against its full-year target.
July 31, 2026
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India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
July 31, 2026
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Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.
July 31, 2026
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One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
July 31, 2026
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Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
July 31, 2026
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Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
July 31, 2026
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Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
July 31, 2026
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Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.

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Customs & Trade

'No contravention of law': SC closes case against Vantara after SIT clean chit

September 15, 2025

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New Delhi, Sep 15 (PTI) The Supreme Court on Monday said there was "no contravention of law" while accepting a clean chit given by its special investigation team to Vantara, the zoological rescue and rehabilitation centre in Gujarat's Jamnagar.

A bench of Justices Pankaj Mithal and P B Varale took the SIT's report on record besides noting the probe team's satisfaction on the compliance and regulatory measures in Vantara.

The top court on August 25 constituted a four-member SIT headed by a former apex court judge while hearing two PILs alleging irregularities against Vantara on the basis of reports in the media and social media besides complaints from NGOs and wildlife organisations.

It came on record that the SIT, after a thorough investigation in coordination with multiple agencies "clearly opined" and held no violation of the Wildlife (Protection) Act, 1972, Recognition of Zoo Rules, 2009, CZA guidelines, Customs Act, 1962, Foreign Trade (Regulation and development) Act, 1992, Foreign Exchange Management Act, 1999, Prevention of Money Laundering Act, 2002, Bharatiya Nyaya Sanhita, 2023 or the Convention of International Trade in Endangered Species of wild Fauna and Flora.

"The Court has no hesitation in accepting the conclusion so drawn in the report. Thus, as no contravention of law has been reported by the SIT, the complaints particularly those listed in Schedule A in the summary of the report stand closed," the bench said.

Relying on the SIT report, the bench held Vantara received the animals "by rescuing them from various situations and housing them in the rescue centre for conservation, and breeding programs" through a complex multi-layered or multi-jurisdictional statutory approvals, procedure and documentation.

"The imports of the animals have been made only after issuance of valid permits. Once the imports of animals is fully documented and supported by valid permits, it is not open for anyone to go beyond the said permits and to dispute the validity attached to such permits or official acts," the verdict held.

The bench observed the import clearance in India was after various checks and compliances regulated and enforced by multiple statutory authorities as recorded by the SIT in the summary of the report.

"It is pertinent to mention that repeated inquiries into the affairs of Vantara pursuant to multiple complaints/petitions filed from time to time have culminated with findings of no violation of law whatsoever. Thus, there is apparently no merit in any of the allegations of animal smuggling or laundering," it added.

On the aspect of welfare standards to be adopted and followed for the conservation, the court said the SIT after taking expert opinion found Vantara facilities exceeded prescribed benchmark and mortality figures aligned with the global zoological averages.

"We are more than satisfied that the facilities at Vantara in certain respects exceeds the prescribed standards of animal husbandry, veterinary care and welfare as well as the statutory benchmarks laid down by the Central Zoo Authority," the bench said.

The verdict said independent bodies such as Global Human Society after site inspection and audit through a team certified that Vantara not only had complied with but had exceeded internationally recognised benchmarks. The apex court said the periodic inspection by the Central Zoo Authority and the Chief Wildlife Warden of Gujarat, along with assessments by CITES, reinforced the conclusion and the allegations of deficiency in welfare standard were, therefore, unfounded.

"On the so-called allegations of misuse of carbon credits, water resources, or financial impropriety, the SIT has found them to be baseless relying upon responses from agencies like CBI, DRI and ED." The bench noted that the SIT deprecated the allegations and aspersions cast upon the statutory authorities, court-appointed high power committee besides courts.

"Vantara in the past has been subjected to judicial scrutiny number of times and the allegations were rejected most of the times at every level/forum," the bench said.

"The SIT has noted with approval the decisions of the High Powered Committee headed by Justice Deepak Verma (former Judge of the Supreme Court) with regard to matters related to transfer of elephants in India," it said.

The apex court directed the proceedings of the report of the SIT to be re-sealed and kept confidential but directed a "complete copy of the same" to be shared with Vantara, subject to an undertaking that it won't be disclosed to third parties.

"The summary of the report which is exhaustive in itself as it does not carry comparable sensitiveness or attract the same degree of confidentiality but provides a faithful account of the conclusions reached by the SIT, shall not be treated as confidential," it said.

The judgment said the complaints and petitions including newspaper reports, articles, catalogues stood "duly investigated and closed".

No further complaint or proceedings based upon such same set of allegations should be entertained before any judicial statutory or administrative forum, it added.

The top court directed Vantara and the authorities concerned to consider and implement the measures suggested by the SIT.

It allowed Vantara to pursue its legal remedies for deletion of any offending publication or for any action against those responsible for the misinformation or for actions for defamation or private complaints under the BNS, 2023.

The top court appreciated the painstaking efforts of the SIT for conducting the inquiry with commendable, thoroughness and fearlessness and with all promptness and directed an honorarium of Rs 9 lakh each to paid to three members of the SIT.

"We are not granting any remuneration to the fourth member, Anish Gupta (IRS) of the SIT as he is still a serving member," it clarified.

On August 14, the top court said the plea filed by petitioner C R Jaya Sukin seeking to get a monitoring committee formed to return the captive elephants in Vantara to their owners was "completely vague". PTI PKS AMK AMK

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