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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
    HIGHLIGHTS
    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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      AstaGuru’s ‘Heirloom’ Auction to Showcase Exquisite & Nonpareil Jewellery, Silver & Timepieces

      October 25, 2025

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      Lot 7 | A Five-Tier Mutual-Cut Diamond Necklace Mumbai, October 24, 2025: In its upcoming ‘Heirloom’ auction, AstaGuru is proud to showcase the finest timeless jewellery, rare silver, and riveting watches. The meticulously curated catalogue celebrates exceptional craftsmanship and artistry from across the globe. Scheduled to take place from October 27 - 28, the auction promises to be an unmissable event for connoisseurs of important collectibles and admirers of master craftsmanship. The jewellery selection brings together a blend of Western and traditional Indian artistry, featuring pieces set with exceptional diamonds, rubies, emeralds, natural pearls, and other precious and rare gemstones sourced from some of the world’s most renowned mines, prized for their colour and clarity. The silver collection celebrates Indian and European silversmithing traditions through vintage creations that echo the skills of the artisans of the time. Completing the curation is a remarkable range of watches, from vintage classics to modern icons by some of the world’s most renowned labels, including Patek Philippe, Audemars Piguet, Bvlgari, Rolex, Hublot, Breguet, Cartier, and A. Lange & Söhne. Adding an exclusive dimension to the auction, a special segment has been curated by Kavita Singh, one of India’s foremost style and décor luminaries. Known for her refined taste and distinctive aesthetic, Kavita brings her signature philosophy of individuality, authenticity, and timeless elegance to this special selection for AstaGuru. Her curation for Heirloom Jewellery is, in her own words, “an amalgamation, a marriage between different styles,” blending modern sophistication with an enduring old-world charm. Each piece in this segment has been chosen for its harmony of design, craftsmanship, and emotional resonance — a reflection of Kavita’s deep appreciation for beauty that transcends trends. Speaking about the jewellery section of the catalogue, Jay Sagar, Jewellery Expert, AstaGuru Auction House, said, “This auction is a truly special one for us. We’re thrilled to bring together a stunning selection of jewellery that reflects the best of Indian and international brilliance. Each piece has been chosen for its beauty and expertise, featuring rare gemstones such as Mogok mine Burmese rubies, Colombian emeralds, rubellites, Tanzanites, spinels, pearls, and natural diamonds of exceptional quality. The collection offers something for every connoisseur — from timeless simplicity to pieces of magnificent grandeur.” Leading the jewellery segment and commanding the highest price is lot no. 24, A Vintage French Art Deco Bow Brooch. The GRS Platinum Award-winning piece is set with diamonds and vivid Colombian emeralds. Ingeniously designed, it can be separated at the centre to form a graceful pair of ear pendants. This lot will be offered at an estimate of INR 2,97,47,826 – 3,50,00,000 An important highlight, lot no. 22, A Beautiful Zambian Emerald, Pearl & Diamond Necklace, showcases five graduated strands of lustrous pearls centring on a striking cluster of Zambian emeralds framed by brilliant-cut diamonds and suspending a pear-shaped emerald drop with pearl fringes. Estimated at INR 1,95,30,000 – 2,50,00,000, it is a refined piece reflecting the splendour of Indian craftsmanship. Jehangir Readymoney, Luxury Timepiece Expert, reflects on the collection: “The fascination for fine timepieces continues to grow, and this season’s offering truly captures that spirit. We’ve handpicked rare watches from renowned global brands – each with its own story, craftsmanship, and character. The collection speaks to both the discerning connoisseur and the emerging collector – showcasing pieces that embody innovation, precision, and timeless elegance.” A standout highlight of this category is lot no. 171, a Rolex Cosmograph Daytona ‘John Mayer’ 18k Gold Wristwatch, a highly coveted and distinctive timepiece with a fascinating provenance. Named after the acclaimed musician and renowned Rolex enthusiast John Mayer, this model features an eye-catching emerald green dial with three sub-dials – a seconds counter at 6 o’clock, a 30-minute counter at 3 o’clock, and a 12-hour counter at 9 o’clock. The watch is crafted in 18k gold, including its case, bezel, crown, and caseback. Executed circa 2021, this exceptional piece carries an estimated value of INR 55,00,000 – 65,55,000. Another important highlight of the sale, lot no. 157, a Patek Philippe Nautilus Stainless Steel Wristwatch, stands as an icon of luxury sports watchmaking and a cornerstone of contemporary horological design. The present example is a rare, smaller version of the model, first introduced in the early 1980s. It features a blue ribbed dial, stainless steel case and caseback, complemented by an 18k gold bezel and crown. Originating circa 1982–1985, this elegant timepiece is estimated at INR 39,00,000 – 60,00,000. The silver section of this auction celebrates the brilliance of metalwork from both India and Europe, capturing the artistry of a time when craftsmanship was paramount. From intricate Indian designs to the refined elegance of European creations, each piece reflects a unique tradition and legacy. The standout piece is lot no. 145, A French Silver Garniture Set With Candelabra. The exceptional garniture features a pair of five-light candelabra and a central mirrored plateau with an openwork frame. Richly decorated with acanthus scrolls, floral motifs, and rocaille details, the set exemplifies the elegance of the 19th-century Rococo Revival-style. Crafted by the renowned Parisian silversmith Cardeilhac, it is a superb example of French craftsmanship, estimated to be sold at INR 20,00,000 – 24,00,000. Lot no. 147, A Hallmark Silver Vase, is a finely crafted piece featuring a broad, rounded contour adorned with bold foliate scroll handles and a flared neck with a reeded rim. Resting on a square pedestal base with gadroon edging and four stylised paw feet, the vase reflects the refined design sensibilities of the early 20th century. Marked IIS as its maker, this elegant creation is estimated to be acquired at INR 13,20,000 – 15,20,000. The Heirloom Auction will be conducted online at www.astaguru.com. Bidders are invited to preview the full catalogue and register for participation. About AstaGuru Auction House AstaGuru (AG) is India’s premium auction house, dedicated to preserving cultural heritage and shaping enduring legacies through rare art and luxury collectibles. Founded in 2008, AstaGuru provides a seamless and trusted platform for collectors to discover, acquire, and consign exceptional treasures, spanning Modern and Contemporary Indian Art, fine jewellery, rare timepieces, vintage cars, and unique collectibles. Guided by a vision to be the world’s leading platform for rare art and luxury collectibles, AstaGuru brings together connoisseurs across generations, fostering a deeper appreciation for craftsmanship and history. With an unwavering commitment to expertise, authenticity, and innovation, AstaGuru empowers collectors to curate extraordinary stories that transcend time. Through its digital platform and mobile app, AstaGuru bridges geographies, making remarkable acquisitions accessible to collectors worldwide. Media Contact: Ayesha Bachaw | [email protected] (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI

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