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    VinFast India Partners with Federal Bank to Strengthen Dealer Financing Ecosystem
    Sugar prices soar to Rs 70 per kg ahead of festive season in Bengal, jaggery also dearer
    Rupee gains 9 paise to 95.65 against US dollar in early trade
    Union Minister of State for Finance Shri Pankaj Chaudhary participated virtually in 21st Award Ceremony of Security Printing and Minting Corporation o...
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August 21, 2026
Show AI Summary
Dealer inventory financing supports working-capital flexibility, vehicle inventory management and electric-vehicle network expansion for authorised dealers.
Dealer inventory financing is to be provided by Federal Bank to VinFast India's authorised dealer network under a memorandum of understanding. The tailored financing is intended to improve dealers' working-capital flexibility, support maintenance of vehicle inventory, strengthen operational capability, and enable timely response to demand as the electric-vehicle distribution network expands.
August 21, 2026
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Sugar supply pressures drive festive-season price increases as imports, stockholding limits and ethanol diversion shape market conditions.
Sugar prices in Bengal have risen sharply ahead of the festive season, with higher prices also affecting jaggery and other sugar-derived products. Supply constraints, mill stock releases, lower production in Brazil, ethanol diversion and possible hoarding have been identified as contributing factors. Raw-sugar imports have been permitted to augment availability, while stockholding restrictions limit inventories of specified bulk consumers. Lower projected closing stocks and possible future production effects from El Nino may sustain pressure on sugar availability and increase costs for sweetmeat producers.
August 21, 2026
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
The rupee strengthened marginally against the US dollar as the dollar index softened, but elevated crude oil prices, geopolitical uncertainty, reduced foreign participation and net foreign equity outflows constrained currency sentiment. RBI measures to attract foreign currency inflows, including FCNR(B) deposits, were expected to generate substantial inflows, although these had not produced meaningful rupee strength. Energy-market disruption and restrictions on fuel exports through the Strait of Hormuz added to external-sector pressures.
August 21, 2026
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Sovereign security production priorities emphasise compliance, modernisation, employee innovation and operational excellence across currency, passport and coinage manufacturing.
SPMCIL performs a sovereign production mandate covering secure currency, coinage, passports and other products of national importance through its mints, currency presses, security presses and paper mill. Modernisation, compliance, transparency, efficiency, productivity, quality and corporate governance support the fulfilment of sovereign requirements. Individual employees and units were recognised for performance in productivity, environment and safety, energy conservation, knowledge and development, vigilance, and official-language implementation.
August 20, 2026
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Customs enforcement against suspected gold smuggling leads to baggage seizure and apprehension of the alleged intended receiver.
Customs officers intercepted an arriving passenger at the green channel on intelligence inputs and examined baggage after X-ray screening indicated suspicious images. The examination recovered two oval capsules containing gold paste concealed in the baggage. Interrogation indicated that an alleged receiver was waiting outside the airport to collect the suspected smuggled gold. Customs officers apprehended the alleged receiver, and further investigation remains underway.
August 20, 2026
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Provincial alcohol sales restrictions remain subject to economic impact assessment under proposed bilateral trade agreement negotiations.
Provincial control over alcohol distribution remains distinct from federal trade-making authority. Quebec retains authority over whether United States alcohol is offered through its government-controlled liquor distribution system, despite lacking a veto over a bilateral trade agreement. Federal requests to restore United States alcohol to retail shelves cannot compel provincial action. Proposed trade commitments also concern restrictions on United States agricultural products and Canada's dairy import regime, which applies lower tariffs within designated import volumes and higher duties beyond those volumes.
August 20, 2026
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Electoral-roll verification found no reported cases of specified foreign nationals receiving identity-linked benefits or voter registration.
Electoral-roll special intensive revision recorded no reported cases of Pakistani, Bangladeshi or Iranian nationals obtaining Aadhaar cards, ration cards, other government benefits, or voter registration. Illegal immigrants are identified through police monitoring, intelligence measures, specialised operations and a Special Task Force. Overstayers are recorded through the District Police Module and Foreigners Identification Portal and produced before Foreigners Regional Registration Officer authorities. Persons found to be residing illegally are reported to the concerned central divisions, proceeded against through registered cases, retained pending case disposal and exit permits, and subjected to deportation steps.
August 20, 2026
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
Raw sugar imports are permitted duty-free under a tariff rate quota until 31 October 2026, with online allocation to eligible millers and refiners having functional refining capacity. Applicants must provide a refining-capacity declaration and supporting Consent to Operate; preference applies to importers undertaking timely completion of imports, while non-utilisation or failure to surrender allocations constitutes non-compliance. Bulk sugar consumers meeting the prescribed consumption threshold are subject to a stock cap of 15 days' consumption from 1 September to 30 November 2026.
August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.
August 20, 2026
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Responsible AI banking requires human oversight, explainable customer decisions, fair conduct, resilient systems and inclusive credit access.
Responsible AI in banking must promote inclusion, resilience and customer trust while preserving human judgement, governance accountability and clear responsibility. AI and alternative data may widen access to credit where data is obtained with consent, tested for reliability and bias, and used prudently. Banks must maintain capacity to challenge models, oversee providers, test systems under adverse conditions and intervene when automation fails. Material customer decisions must be explainable, clearly communicated and subject to review by an authorised person. Fair conduct, meaningful disclosure, impartial complaint review and transparent communication remain essential throughout the customer relationship.
August 20, 2026
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Multi-Currency EEFC settlements let exporters retain foreign earnings and choose conversion timing for overseas payment obligations.
Multi-Currency EEFC Account settlements enable exporters and international businesses to receive payment settlements directly into Exchange Earners' Foreign Currency accounts in the original transaction currency without immediate conversion into Indian rupees. Retention of foreign currency earnings permits businesses to choose when conversion is required, reducing repeated foreign-exchange conversion cycles and supporting management of foreign-currency cash flows and overseas obligations.
August 20, 2026
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Power semiconductor foundry expansion targets Indian fabless customers through technology showcasing, process development, and collaboration in the growing semiconductor market.
DB HiTek seeks to expand foundry business with Indian fabless semiconductor companies by showcasing power semiconductor and specialised process technologies. Its commercial focus includes BCD processes for automotive and industrial applications, together with silicon-carbide and gallium-nitride process development and planned volume production. Product-performance evaluations are underway with strategic customers. Customer expansion also covers X-ray, global-shutter, single-photon avalanche diode, specialty CIS, and mixed-signal/RF processes, supported by collaboration with local fabless firms.
August 20, 2026
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Money-laundering allegations over payments without services raise concerns about overseas transfers, identity-linked communications, and mineral smuggling.
Money-laundering allegations concern claimed payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions Pvt. Ltd., a company promoted by Veena T., without corresponding services. Searches reportedly yielded handwritten material referring to fund transfers to Dubai and digital material relating to a SIM card obtained in another person's name. Further allegations included overseas fund movement, hawala transfers, and possible thorium or monazite smuggling, all presented as allegations requiring examination.
August 20, 2026
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Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
August 20, 2026
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Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.
August 20, 2026
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Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.
August 19, 2026
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Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.

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News and Press Release

Government to promote tribal products in international markets: Union Minister of Commerce and Industry

November 13, 2025

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Shri Piyush Goyal calls for united efforts to empower tribal communities and showcase their craftsmanship worldwide

Shri Goyal calls for the transformation from “Van Dhan to Vyapar Dhan,”

Union Minister of Commerce & Industry, Shri Piyush Goyal has said that all tribal products with export potential will be fully supported by the Department of Commerce through various channels, including e-commerce platforms, international warehouses for product display and sales, as well as wholesale and retail trade networks. Shri Goyal said this while addressing the Tribal Business Conclave 2025 in New Delhi today in the august presence of Union Minister of Tribal Affairs Shri Jual Oram.

Organized by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, in collaboration with the Ministry of Tribal Affairs and Ministry of Culture, the conclave marked a historic moment during Janjatiya Gaurav Varsh, commemorating the 150th birth anniversary of Birsa Munda.

Commerce Minister informed the Conclave that a scheme is currently being developed to strengthen export promotion efforts to ensure that tribal products gain the visibility and market access they rightfully deserve in both domestic and global markets.

Shri Goyal said that both domestic and international markets offer immense opportunities for tribal goods and crafts, and that the Government is taking necessary measures to harness this potential in the coming years.

The Minister emphasised that the Prime Minister believes that the nation can truly prosper only when the indigenous people prosper. He said that India’s growth and development depends on ensuring that progress reaches every household, particularly those in tribal and remote regions. Shri Goyal reiterated that the upliftment of tribal and indigenous communities remains a top priority for the Government, reflecting its commitment to inclusive and sustainable development.

Shri Goyal paid tribute to Birsa Munda and said that he showed direction and leadership to the tribal community. He added that the nation must draw inspiration from Birsa Munda’s life and follow his footsteps to uplift the tribal community, enhance livelihoods, and ensure that every tribal household is filled with happiness and prosperity. Shri Goyal recalled Birsa Munda’s words, “Our land, our kingdom,” and said that the tribal community has historically faced immense deprivation and hardships.

The Minister lauded the tribal community for preserving its values, handicrafts, and traditional skills despite numerous challenges. He said that the way tribal communities have kept their history and heritage alive through resilience and dedication is truly commendable. He expressed deep respect for the strength and determination of the tribal community and said that their contribution to India’s cultural and social fabric is invaluable.

Shri Goyal noted that the Ministry of Tribal Affairs and the Department of Commerce have jointly played a pivotal role in promoting trade and commerce of tribal and indigenous products. He said that schools, colleges, universities, trade bodies, and government institutions have together ensured that quality tribal products from the remotest corners of the country reach marketplaces and consumers across India.

The Minister highlighted that the Government has implemented various schemes and initiatives aimed at improving the welfare of tribal communities. He noted that the President of India, Smt. Droupadi Murmu, stands as a proud and capable representative of both the nation and the tribal community. He mentioned that 3,900 Van Dhan Kendras have acted as catalysts for the upliftment of 12 lakh members of the tribal community.

Shri Goyal informed that the budget allocation for the Ministry of Tribal Affairs has been increased by 50 per cent this year. He added that under the PM-Janman Yojana, approximately 50 lakh families belonging to particularly vulnerable tribal groups have benefitted, with Rs. 24,000 crore disbursed to improve their quality of life.

He said that the tribal community of India is deeply proud of its roots, culture, and traditions. He informed that the fee for obtaining Geographical Indication (GI) tags has been reduced by 80 per cent—from Rs. 5,000 to Rs. 1,000—to encourage more tribal products to be registered and to ensure that India’s history and traditions are preserved through their crafts and heritage.

Concluding his address, Shri Goyal called for the transformation from “Van Dhan to Vyapar Dhan,” envisioning that tribal and indigenous products should reach international platforms, truly realising the vision of “Local Goes Global.” He urged all stakeholders to work together to achieve this shared goal of empowering tribal communities and showcasing their craftsmanship to the world.

FICCI and PRAYOGI also supported the conclave as Industry Partner and Knowledge Partner, respectively. The event celebrated tribal resilience and creativity while positioning tribal enterprise at the heart of India’s development agenda for Viksit Bharat @2047.

The event witnessed participation from over 250 tribal enterprises, with 150 exhibitors and more than 100 tribal start-ups showcasing their innovations at the “Roots to Rise” pitching platform. The initiative provided a direct connection between entrepreneurs, investors, corporates, and government buyers, creating a vibrant ecosystem for collaboration and growth.

The conclave included six high-impact panel discussions and four masterclasses that engaged more than 50 eminent voices from government, academia, and industry. The sessions focused on themes such as investment and partnerships, skilling and empowerment, sustainability and geographical identity, and branding and market innovation.

Buyer-seller meets were also organised to create actionable pathways for market access, skill development, and policy recommendations aimed at strengthening tribal value chains from villages to global markets.

A cultural showcase featuring a thematic pavilion and traditional performances celebrated tribal heritage under the theme “Tribal Bharat @2047: Sustaining Culture, Scaling Commerce.”

Key Announcements at the conclave

1. Launch of Gramya Yuva Arth Niti (GYAN) Lab: A Public Policy Interactive Lab developed by the Ashank Desai School of Public Policy, IIT Bombay, and PRAYOGI Foundation, with support from the Ministry of Commerce and Industry. The GYAN Lab brings together field experience, technology, and policy to design and test new models for tribal and rural enterprises. Through real-time pilots, policy frameworks, digital innovation, and capacity-building, it will create scalable solutions for inclusive and sustainable enterprise growth.In the coming year, the Lab will roll out pilots such as the Tribal Entrepreneurship Index and micro-equity based incubation models, turning field learning into policy action. This collaboration between government, academia, and industry is a major step toward empowering India’s tribal communities through enterprise and innovation launch of Gramya Yuva Arth Niti – GYAN,

2. Tribal Affairs Grand Challenge: Announced by the Ministry of Tribal Affairs in association with Startup India and DPIIT, this initiative invites startups and enterprises to design high-impact solutions for tribal communities, offering visibility, mentorship, and funding support.

3. Roots to Rise: Pitching Session Outcomes

  • After two rounds of screening, 115 enterprises were selected, of which 43 possess a DPIIT registration number. 10 incubators agreed to provide incubation support to the selected enterprises. 57 enterprises received interest for investment from more than 50 VCs, investors including AIF, VCs, angel investors, who participated with a total commitment of more than INR 10 crore.
  • 33 enterprises attracted investor interest from organizations such as IFCI Venture Capital Funds Ltd. and Arora Venture Partners.
  • These startups and enterprises have created around 1,500 direct employment and more than 10,000 indirect employments, cumulatively serving over 20,000 tribal people in various sectors.

4. Another notable outcome was the high engagement on the Government E Marketplace, resulting in 60+ registrations and over 50 positive inquiries for TBC products.

5. Distribution of GI Certificates - The event also featured the distribution of Geographical Indication (GI) certificates, celebrating the artistry of tribal artisans from across India. Crafts and products such as Kannadippaya (Bamboo Mat) of Kerala, Apatani Textile of Arunachal Pradesh, Marthandam Honey of Tamil Nadu, Lepcha Tungbuk of Sikkim, Bodo Aronai of Assam, Ambaji White Marble of Gujarat, and Bedu and Badri Cow Ghee of Uttarakhand received due recognition for their uniqueness and cultural heritage. The recognition marks a significant step in enhancing market access, brand value, and national visibility for tribal products empowering artisans and preserving India’s rich indigenous legacy.

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