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    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
    GeM Launches 10-Day Celebrations Ahead of 10th Foundation Day, Unveils Commemorative Logo
    All Indian exports of dual-use items comply with international obligations: MEA
    PM Modi to inaugurate Bhogapuram Airport in Andhra on Aug 1
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    Closely monitoring: India on US bill seeking up to 100 % tariffs on purchasers of Russian oil
    Delhi HC seeks ED stand on Nayan Raheja's plea against money laundering case
    Rupee appreciates 7 paise to close at 95.43 against US dollar
    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
    PM Modi speaks to UK counterpart Burnham
    Bank credit to industry records robust growth of 19.2 pc in June: RBI data
    Delhi protesters' fingerprints collected from stones for identification via Aadhaar: BJP minister
    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
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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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      India Leads Historic 20th Tipitaka Chanting Ceremony, Reawakening Buddhism’s Motherland

      October 16, 2025

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      Mumbai (Maharashtra) [India], October 16: Recently, A press conference was held at the Press Club in Mumbai to announce the 20th International Tipitaka Chanting Ceremony, scheduled to take place from December 2–13, 2025, at the Sacred Seat of Enlightenment in Bodhgaya, Bihar. Organized by seventeen Buddhist organizations from across India, this milestone event celebrates two decades of spiritual unity and the revitalization of the Buddha’s teachings under the sacred Bodhi Tree. The press conference was graced by esteemed dignitaries, including ITCC President Most Venerable Bhante Sanghasena, Secretary General Most Venerable Bhante Vinay Rakkhita, Vice President Most Venerable Bhante Agradhamma, and Treasurer Venerable Ayya Sakya Dhammadeena, who shared their vision for this historic gathering. Since its inception in 2006, the International Tipitaka Chanting Ceremony has grown into the largest international Buddhist event in South East Asia and India, uniting monastics and lay devotees from around the world to celebrate and revitalize the Dharma in the land where the Buddha attained enlightenment. This year, India takes the lead in hosting this noble tradition, reaffirming its role as the motherland of global Buddhism. A Global Gathering for Peace and Spiritual Revival The 10-day festival will bring together over 20,000 Indian monks and laypeople, including 10,000 devotees from Maharashtra, and more than 5,000 international monastics from Thailand, Myanmar, Sri Lanka, Cambodia, Laos PDR, Vietnam, Indonesia, Nepal, Bangladesh, and the United States. Over 1,000 volunteers from across India, including 500 from Maharashtra, will dedicate their service to support the event. The ceremony will feature daily recitations of the Buddha’s teachings in Pali under the Bodhi Tree, discourses by Buddhist Dhamma gurus, question-and-answer sessions, an art gallery, cultural performances by artists from India and abroad, and a vibrant exchange of ideas and cultures. A highlight of this year’s event is the consecration and donation of 220 four-foot golden Buddha statues, handcrafted in Odisha, to lay devotees and communities across India. These statues, symbolizing wisdom and compassion, will serve as spiritual foundations for new temples, meditation centers, and community spaces, marking the resurgence of Buddhism in its sacred homeland. Event Highlights The ceremony will commence on December 2, 2025, with a grand international Buddhist parade at 8:00 a.m., featuring pandals representing Buddhist nations in a resplendent display of devotion and unity. Thai and Vietnamese devotees will offer magnificent floral decorations, with vivid blossoms honoring the Buddha beneath the Bodhi Tree. The event will conclude on December 13 with a commemorative walk from Jethian Valley to the Mango Grove of Rajgir, retracing the Buddha’s footsteps, with over 1,000 pilgrims from 22 countries expected to join this historic yatra. Confirmed dignitaries for the opening ceremony include Pema Khandu, Chief Minister of Arunachal Pradesh; Chowna Mein, Deputy Chief Minister of Arunachal Pradesh; and Wangki Lowang, Minister of Forest & Environment, Mining & Minerals, Government of Arunachal Pradesh. Invitations have been extended to Mohammad Arif Khan, Governor of Bihar; Kiren Rijiju, Union Minister (December 6); Ramdas Athawale, Minister of State for Social Justice & Empowerment (December 7); and Nitin Gadkari, Union Minister, for the closing ceremony on December 12. Economic and Cultural Impact: The event is expected to generate approximately 20 crore in business for Bodhgaya and its surrounding areas, significantly boosting the local tourism and hospitality sectors. With chartered and scheduled flights bringing international pilgrims, the ceremony underscores Bodhgaya’s importance as a global spiritual hub. Voices of Inspiration: Wangmo Dixey, Executive Director of the Light of Buddhadharma Foundation International (LBDFI) and founder of the event, shared: “It is a great honor to bring the sound of Dharma back to the Motherland of India. Each recitation under the Bodhi Tree carries a wish for peace—not just for ourselves, but for all beings. In these urgent times, our prayers in Bodhgaya become a global call for unity, compassion, and harmony.” Most Venerable Bhante Sanghasena, President of ITCC–India, reflected: “For twenty years, the International Tipitaka Chanting Ceremony has served as a sacred bridge connecting the Buddha’s homeland with Buddhist nations worldwide. Beneath the Bodhi Tree, the voices of the Sangha rise together as one—transcending borders, traditions, and languages. I express my deep appreciation to Most Venerable Tarthang Tulku Rinpoche and Ms. Wangmo Dixey, whose noble vision and tireless efforts gave birth to this extraordinary spiritual movement. This ceremony is a spiritual renaissance for humanity, reminding us that the Buddha’s timeless wisdom continues to illuminate our world today. I wholeheartedly invite all to join this historic gathering.” Supporting the Sangha and Attendees A 30,000-square-foot food tent at the Kalachakra grounds beside the Mahabodhi Temple will provide free meals to all participants, with daily dāna offerings hosted by lay devotees and Buddhist organizations in a spirit of generosity and fellowship. About the Organizers The event is organized by the Light of Buddhadharma Foundation International (LBDFI) in collaboration with the International Tipitaka Chanting Council (ITCC), dedicated to preserving and promoting the Buddha’s teachings through prayer gatherings and pilgrimages. For more information, visit www.lbdfi.org and www.tipitakachantingcouncil.org. The 20th International Tipitaka Chanting Ceremony invites all to join this historic gathering to lend their voices to the sacred chanting and their hearts to the preservation of the Buddha Dhamma. (Disclaimer: The above press release comes to you under an arrangement with PNN and PTI takes no editorial responsibility for the same.). PTI

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