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August 18, 2026
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Industrial corridor development prioritises empowered SPVs, integrated infrastructure and investor-ready parks to accelerate manufacturing investment and operations.
National Industrial Corridor Development Programme implementation prioritises timely infrastructure completion, land allotment, investment mobilisation and commencement of manufacturing. PM GatiShakti-aligned planning requires integrated connectivity, utilities and social infrastructure, while States should resolve land, clearance and SPV-power bottlenecks. BHAVYA proposes investment-ready, plug-and-play industrial parks appraised for ready land, credible demand, connectivity, utilities, realistic phasing and early investor attraction. NICDIT routes Government participation and equity support for BHAVYA project SPVs, and NICDC coordinates implementation and monitoring.
August 17, 2026
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RERA compliance exemption for stalled housing projects raises whether statutory obligations may be waived to enable phased project completion.
RERA compliance exemption is sought for completion of 16 stalled residential projects by a public sector construction entity appointed under a project-completion arrangement. The appellate insolvency tribunal declined to direct a waiver, considering itself incompetent to exempt compliance with statutory provisions. The arrangement requires phased completion, award and commencement of construction work, and oversight through an apex committee and project-wise committees. The projects remain incomplete owing to the developer's financial crisis.
August 17, 2026
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Deposit mobilisation and youth banking guide strategies for stronger public financial institutions, investment financing and Global Capability Centre opportunities.
PSB Confluence 2026 considers strategic priorities for Public Sector Banks and Public Financial Institutions across deposit mobilisation, banking for youth, investment-cycle financing and Global Capability Centres. Discussions seek practical, scalable strategies to strengthen customer engagement, youth-responsive banking propositions, institutional financing capabilities and participation in the expanding Global Capability Centre ecosystem. Youth engagement may use the MY Bharat platform to strengthen links with the formal financial system and awareness of education finance, entrepreneurship, internships and financial-sector careers. Further themes include value-chain infrastructure, priority sector lending and credit card business reform.
August 17, 2026
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Banking-sector reform will guide lender capacity, financial stability, inclusion, consumer protection, deposit growth and responsible credit-card expansion.
Banking-sector reform is proposed through a high-level committee on Banking for Viksit Bharat to review the sector and align it with growth needs while safeguarding financial stability, financial inclusion and consumer protection. Key themes include deposit mobilisation, youth banking, investment support, global capability centres, value-chain infrastructure, credit cards and priority-sector lending. Public-sector banks are expected to improve competitiveness through technology, sectoral expertise, product adaptation and customer-focused deposit growth. Credit-card development must maintain responsible underwriting, customer protection and appropriate risk controls.
August 17, 2026
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FCNR(B) concessional swap facility availability narrows to timely mobilised deposits amid rupee depreciation and foreign currency inflow concerns.
Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.
August 17, 2026
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Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
August 17, 2026
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Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
August 17, 2026
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SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
August 17, 2026
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FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
August 16, 2026
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Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
August 16, 2026
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Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.
August 16, 2026
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Electric vehicle export diversification strengthens India's presence across European, Asia-Pacific and Latin American markets through expanding overseas demand.
India's electric motor car exports expanded sharply in the first quarter of 2026-27, reflecting increased international acceptance and competitiveness of India-manufactured electric vehicles. Europe became the principal export destination, led by Spain and the United Kingdom, with further demand across several European markets. Exports also reached Asia-Pacific markets, Nepal and emerging Latin American destinations. This wider market presence reflects improving quality and safety standards, stronger integration into global electric-vehicle supply chains, and diversification of India's electric-vehicle export profile.
August 16, 2026
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LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
August 16, 2026
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Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
August 15, 2026
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Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
August 15, 2026
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Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
August 15, 2026
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Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
August 15, 2026
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Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
August 15, 2026
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Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
August 15, 2026
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Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.

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Healthcare affordability a key priority for the Government; duty cuts and GST reductions benefitting citizens: Union Minister of Commerce & Industry Shri Piyush Goyal

November 11, 2025

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Healthcare is the foundation of a thriving society; doctors and medical professionals have a pivotal role in achieving Viksit Bharat: Shri Goyal

India poised to become the world’s leading destination for affordable, high-quality healthcare and medical value tourism: Shri Goyal

Union Minister of Commerce & Industry, Shri Piyush Goyal, while addressing the 22nd CII Annual Health Summit in New Delhi today, pointed out that India’s healthcare sector has benefitted from the Government’s continued focus on affordability—such as reducing GST on health and life insurance from 18 per cent to 0 per cent, and lowering duties on medical devices, cancer care drugs and several essential medicines to make treatments more accessible and affordable for citizens.

Shri Goyal said that the Government is open to exploring further reductions in duties or cesses on essential medicines and medical products to ensure that more medicines are available at affordable prices. The Minister said that the Government would be happy to receive specific inputs from the industry on medicines and products that could benefit from further reduction in duties. He assured the industry that this is a listening government, receptive to feedback, suggestions and ideas, and committed to working collaboratively with stakeholders to strengthen both domestic healthcare delivery and medical value travel.

Shri Goyal added that all such collective efforts—by the Government, medical professionals, and the healthcare industry—will cumulatively help in serving the people of India better and in positioning the country as a preferred global destination for medical treatment and wellness.

The Minister also spoke about the success of Jan Aushadhi Kendras, which have crossed the 10,000 mark, providing affordable generic medicines and sanitary products at nominal prices. He said such interventions have greatly improved healthcare access for rural and economically weaker citizens, ensuring affordability at the grassroots level.

Shri Goyal emphasised that India’s healthcare model must remain inclusive and equitable, saying that “we cannot have a chalk and cheese system where local citizens are deprived of quality healthcare while focusing only on international medical tourism.” He stressed that a strong domestic healthcare foundation is essential for India to emerge as a preferred global hub for medical value travel.

During his address, Shri Goyal highlighted that “good health is the foundation of a thriving society,” echoing the vision of Prime Minister Shri Narendra Modi. He stated that as India moves towards becoming Viksit Bharat by 2047, the role of doctors and the entire medical ecosystem will be crucial in shaping a healthy and productive nation.

Shri Goyal said that India’s medical fraternity has consistently demonstrated leadership, commitment, and excellence, and there is no better team to make India a global benchmark for quality healthcare. He added that India’s healthcare sector has witnessed remarkable growth over the past decade—both in capacity and quality.

The Minister informed that when the present Government came to power in 2014, India had only 7 All India Institutes of Medical Sciences (AIIMS) and 387 medical colleges. In the last ten years, this number has increased to 23 AIIMS and 706 medical colleges, reflecting the Government’s commitment to expanding access to medical education and healthcare infrastructure. He noted that this expansion will help meet India’s growing demand for doctors while continuing to contribute a pool of world-class medical professionals to the global workforce.

Shri Goyal mentioned that as announced by the Prime Minister from the ramparts of the Red Fort last year, the Government is working to significantly increase the number of medical seats by 2029 to strengthen India’s medical education ecosystem and ensure smarter utilisation of infrastructure.

He noted that through initiatives such as Ayushman Bharat, nearly 700 million people are eligible for free healthcare. He said that the Prime Minister’s compassionate leadership is reflected in the decision to extend free healthcare to all senior citizens above 70 years of age, irrespective of income. Shri Goyal recalled the Prime Minister’s vision that every elderly citizen deserves dignity and security, especially at a time when traditional family care systems are changing.

The Minister welcomed suggestions regarding Visa-on-Arrival and E-Visa facilities for medical tourists, adding that India is already extending such facilities to many countries. Shri Goyal noted that India’s ageing population in comparison to global demographics, and the long waiting periods for medical procedures abroad, offer a unique opportunity for India to emerge as a trusted global healthcare destination. He encouraged the CII to prepare an action agenda outlining steps to improve infrastructure, patient accommodation, and the overall experience of medical tourists.

He suggested that hospitals could consider allowing up to 10 per cent of foreign patients, while contributing a portion of the revenue towards the Ayushman Bharat programme or CSR activities benefitting underprivileged sections. Such a balanced model, he said, would ensure both inclusivity and growth.

Highlighting India’s competitive advantage, Shri Goyal said that India offers world-class medical care at one-third or even one-fourth the cost of treatment in several developed countries. He noted that India’s young population, skilled doctors, technicians, nurses, and caregivers are highly sought after globally and form the backbone of India’s healthcare strength.

He urged leading healthcare institutions to expand training programmes for nurses and caregivers to meet both domestic and international demand. He also expressed openness to exploring policies that could enable NRI doctors to contribute to India’s healthcare ecosystem, subject to consultation with professional bodies such as the Indian Medical Association (IMA).

Concluding his address, Shri Goyal said that India’s healthcare advantage lies in its perfect blend of modern medicine, traditional wellness, and compassionate care. He suggested that ‘Heal in India’ should also integrate Yoga, Ayurveda, meditation, and spiritual tourism to present India as a holistic wellness destination.

“India has the clinical prowess, the wellness heritage, the talent, and the culture of hospitality — the right combination to make India the number one wellness destination in the world,” Shri Goyal added.

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