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    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
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
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    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.
    July 31, 2026
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    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.

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      Hon Gen Vijay Kumar Singh Unveils Bold Blueprint for Blue Economy Growth, Spotlighting North East at ISMA 2025

      November 21, 2025

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      The 12th International Samudra Manthan Awards 2025 organised by the Samudra Manthan Foundation, supported by the Directorate General of Shipping (DGS) under the Ministry of Ports, Shipping & Waterways, Government of India, with Bhandarkar Publications as the Knowledge Partner was held with grandeur and deep national spirit at the Jio World Convention Centre, Mumbai. The ceremony was graced by the Hon’ble General (Dr.) Vijay Kumar Singh, PVSM, AVSM, YSM (Retd.), Governor of Mizoram, who attended as the Chief Guest. Capt. Vivek Bhandarkar, Director of the Samudra Manthan Foundation and CEO of Bhandarkar Publications, opened the 12th International Samudra Manthan Awards 2025 by extending a warm welcome to the Chief Guest.

      In his inspiring address, the Hon’ble Governor spoke with conviction about opportunity which is the single most powerful catalyst capable of transforming both individuals and nations. He noted that while India possesses immense strengths, “our only real gap lies in not striking at the right opportunity at the right time,” a powerful reminder that timing, boldness, and preparedness are indispensable. Drawing focus to India’s Northeast, the Hon Mizoram Governor delivered a stirring pitch highlighting the region’s extraordinary potential, its low power costs, natural abundance, talent-rich youth, inland waterway possibilities, and an ecosystem ripe for maritime and logistics expansion. He emphasized that “whatever you seek, be it talent, resources, resilience you will find in the Northeast,” urging the maritime sector to embrace the region as a strategic partner in India’s journey towards Viksit Bharat. His remarks drew a warm, appreciative response from the audience, marking a significant moment in positioning the Northeast within the country’s maritime narrative. He encouraged the maritime community to look toward the Northeast not as a distant region but as a frontier of possibility, partnership, and prosperity.

      The evening was further graced by the presence of several distinguished Guests of Honour, whose participation added immense value to the event. Among them were Capt. B. K. Tyagi, Chairman & Managing Director, Shipping Corporation of India Ltd.; Dr. A. V. Ramana, Chairman, New Mangalore Port Authority; DIG Bibhuti Ranjan, Principal Director, Indian Coast Guard; Mr. Yonis Ali Guedi, Minister of Energy and Natural Resources, Republic of Djibouti; Mr. Vishal Mehta, CEO, Rushabh Sealink & Logistics Pvt. Ltd. and Honorary Consul of the Republic of Djibouti and others who were welcomed by Organizers of Samudra Manthan Awards- Capt. Vivek Bhandarkar and Shri Ashish Pednekar.

      In his Welcome Address Capt. Vivek Bhandarkar all dignitaries, leaders, and members of the maritime fraternity. peaking under the overarching theme “Viksit Bharat, Shreshtha Sagar,” he emphasized that the Awards are not merely a ceremony of recognition, but a reaffirmation of India’s vision to emerge as the 'Vishwa Guru' and 'Vishwa Bandhu' of the global maritime community; echoing the aspirations laid down by Hon’ble Prime Minister Shri Narendra Modi. He reflected on the overwhelming success of the two-day symposium on Oil Spill Recovery and Salvage Operations, describing the packed halls, active participation, and high-quality discussions as proof of India’s maritime sector being alert, agile, and ready to lead with global standards in preparedness, environmental safety, and response capability. Capt. Bhandarkar highlighted the Foundation’s guiding philosophy of “Samudra Manthanasya Amrutam Paropakaaram”, stating that the true nectar drawn from the churning of the seas lies in collective service and societal benefit. He reiterated that the Samudra Manthan Foundation has grown into a movement of collaboration, discourse, and social commitment. He also expressed pride in the Samudra Manthan Foundation’s North-East outreach initiative under the Directorate General of Shipping’s “Sagar Mein Samman” programme. By reaching youth and women of the Eight Sisters (8 Northeastern States), the Foundation ensured that maritime opportunities transcend coastlines and become accessible to every Indian. Acknowledging the Directorate General of Shipping under Shri Shyam Jagannathan, IAS, Capt. Bhandarkar praised their leadership in driving safety, sustainability, and seafarer welfare. He also thanked all sponsors, partners, industry bodies, committee members, and the jury for their unwavering support. Reflecting on the intense nomination process for the 2025 Awards, he noted the razor-thin margins between top contenders and expressed heartfelt appreciation for every nominee, affirming that each one represents excellence, courage, and commitment. This year also marked a special Milestone, 50 years of Bhandarkar Publications, which Capt. Bhandarkar acknowledged with pride, reiterating his lifelong commitment to serving the maritime fraternity and upholding the publication’s ethos of being “of the industry, by the industry, for the industry.” He concluded by inviting the audience to celebrate the spirit of a rising India and the strength of its seas, formally opening the 12th International Samudra Manthan Awards 2025 with gratitude and renewed purpose.

      A touching moment of the evening was the felicitation of Capt.Vivek Bhandarkar and Ms. Bharati Bhandarkar by the Hon’ble Governor, marking 50 glorious years of Bhandarkar Publications. A short audio-visual presentation was showcased during the ceremony, paying tribute to the extraordinary legacy of Prof. K. R. Bhandarkar, whose pioneering contribution laid the foundation for maritime publishing in India. The film highlighted how his vision, educational commitment, and groundbreaking initiatives transformed access to maritime knowledge, making professional literature accessible and affordable for generations of Indian seafarers. His pioneering spirit continues to inspire the institution’s journey even today.

      The Jury Chairman, Shri Rajeeva Sinha, IAS (Retd.), Advisor (JNPA) and eminent industry expert, reaffirmed that the awards are based purely on merit, balanced with the spirit of encouraging emerging contributors. He quoted, “When the great scorer writes against your name, he writes not whether you won or lost, but how you played the game,” reminding everyone that participation itself is a mark of honour in such a competitive and vibrant industry.

      Since its inception, the International Samudra Manthan Awards has honoured excellence through the symbolic framework of Sixteen Jewels, inspired by the treasures that emerged from the legendary Samudra Manthan or the Churning of the mythical Milky Ocean. Staying true to this legacy, the 2025 edition celebrated a wide spectrum of achievements across India’s maritime and logistics ecosystem, recognising organisations whose contributions reflect innovation, resilience, and industry-wide impact.

      In the shipping category, honours were presented to both Indian and international leaders who continue to steer the sector forward. The Shipping Corporation of India received the award for Shipping Company of the Year (Indian – Public Sector), while The Great Eastern Shipping Company was recognised as Shipping Company of the Year (Indian – Private Sector). Among global operators, Maersk Fleet Management and Technology India Pvt. Ltd.; CMA CGM Agencies India Pvt. Ltd.; and Ocean Network Express (India) Pvt. Ltd. were acknowledged for their excellence and operational leadership. JSW Shipping & Logistics Pvt. Ltd. was celebrated as Shipping Company of the Year – Coastal, reflecting remarkable growth in India’s coastal movement segment.

      In the ports category, several major port authorities earned recognition for their outstanding performance. The Jawaharlal Nehru Port Authority was honoured as Major Port of the Year for its exceptional container throughput and infrastructure leadership. The Deendayal Port Authority was recognised as a pioneer in Green Hydrogen Transformation, while the Paradip Port Authority received the award for Outstanding Bulk Cargo Performance. The New Mangalore Port Authority was celebrated as the Fastest-Growing Port in Southern India as it marked its Golden Jubilee this year and JSW Jaigarh Port Ltd. was named Non-Major Port of the Year.

      In the terminal category, accolades went to leading operators shaping efficiency and productivity across India’s maritime gateways. Adani Ports and Special Economic Zone Ltd. Mundra Port; PSA Mumbai; and Haldia Container Terminal were all honoured as Shipping Terminals of the Year, acknowledging their role in world-class handling, technology adoption, and operational excellence.

      The evening also honoured outstanding women achievers under the Star Women in Maritime honours, celebrating leaders who are strengthening the maritime sector, breaking barriers, and inspiring inclusivity.

      A highlight of the ceremony was the presentation of Special Awards, recognising exceptional individuals across maritime and allied sectors.

      Capt. Mahesh Yadav, Director of Marine Education & Training, FOSMA Maritime Institute & Research Organisation, was honoured as Mentor of the Year for his legendary role in shaping future generations of seafarers through dedicated training, guidance, and excellence in maritime education.

      Mr. S. M. Rai, a revered senior member of the Institute of Marine Engineers (India), was conferred the Lifetime Achievement Award for his decades-long contribution to ship engineering, maritime standards, and professional leadership. An audio-visual clip played before the felicitation offered a moving glimpse into Shri S. M. Rai’s remarkable journey and his decades of steadfast service to the maritime fraternity. In his characteristically humble acceptance remarks, Shri Rai kept his words brief yet heartfelt. He expressed deep gratitude to the industry for every opportunity it has given him to contribute and serve, affirming his unwavering commitment to continue supporting the sector in every possible way. He extended his thanks to the younger generation, senior leaders, colleagues, and the wider maritime community for their constant encouragement throughout his career.

      Prof. Dr. Tanuja Kaushik, Dean Academic Affairs, Gujarat Maritime University, received the Woman Achiever of the Year Award and Shri Haresh Lalwani, Joint Managing Director, Sun Logistics, was presented the Late Prof. K. R. Bhandarkar Memorial Award.

      A spectrum of honours drawn from across the maritime and allied sectors, symbolically equivalent to the treasures that emerged during Samudra Manthan along with the gems.

      The ceremony concluded with a sense of celebration, pride, and renewed commitment to strengthening India’s maritime vision as the event also featured a special showcase by the Northeastern folk fusion ensemble “Sound from the Hills,” whose soulful performance celebrated India’s cultural richness and added a vibrant dimensionby infusing the venue with the unique charm, rhythm, and spirit of the North-East, making the evening feel truly inclusive, and unforgettable.

      The hall sparkled with energy as leaders, achievers, and young professionals exchanged ideas, applauded the winners, and celebrated the collective progress of India’s maritime and logistics sectors.

      The 12th International Samudra Manthan Awards 2025 stood as a glowing testament to excellence, unity, and national purpose, where the spirit of the seas met the vision of a rising maritime nation.

      (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR

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