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    Union Minister of Finance and Corporate Affairs interacts with interns from PM Internship Scheme in New Delhi
    DRI uncovers large-scale illegal use of SAFTA agreement in areca imports
    Rupee falls 17 paise to 95.59 against US dollar in early trade
    Colombian president asks Trump to suspend tariffs to help earthquake recovery
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    PROVISIONAL ESTIMATES OF WHOLESALE PRICE INDEX, OUTPUT PRODUCER PRICE INDEX, AND TRIAL INPUT PRODUCER PRICE INDEX FOR THE MONTH OF JULY 2026, AND FINA...
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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.
August 15, 2026
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Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.
August 14, 2026
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Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
August 14, 2026
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Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
August 14, 2026
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Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
August 14, 2026
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Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
August 14, 2026
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Wholesale and producer price indices show July inflation movements, provisional estimates, final revisions, and manufacturing input-price trends.
Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.

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VIBGYOR Viva Enters Its 17th Year Showcasing Holistic Student Excellence Across India

December 17, 2025

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Mumbai, Maharashtra, India – Business Wire India • 1,50,000+ participants from 3,000+ schools across 15 cities and 7 states in India • Season 17 welcomes students from USA, UAE, and the Netherlands • Over 150 activities spanning sports, performing arts, and workshops • FIBA-endorsed All India Inter-School Basketball Championship and nationwide Vivathon return as major highlights The VIBGYOR Group of Schools, one of India’s leading K-12 education networks, has announced Season 17 of its flagship inter-school festival, VIBGYOR Viva 2025, a grand celebration of talent, creativity, sportsmanship and community spirit. The milestone 17th edition will unfold across 15 cities and 7 states, bringing together more than 2,00,000 students from over 3,000 schools nationwide, with the finale event scheduled on 20th December 2025 in Pune. The festival will also see student participation from USA, UAE, and the Netherlands — a reflection of Viva’s expanding global reach and growing recognition Since its inception in 2009, VIBGYOR Viva has evolved into a multi-dimensional platform that recognises and nurtures holistic development in children through sports, performing arts, and experiential learning. This year’s theme, “Celebrating 17 Years of Talent, Sports and Togetherness,” reflects the Group’s unwavering commitment to empowering students to explore their passions, showcase their skills, and forge meaningful connections. Event Highlights: • Major Attractions: • FIBA-endorsed All India Inter-School Basketball Championship (Rs. 3,00,000 in prizes) • Stars & Junior Stars Ensemble (Rs. 2,25,000 in prizes) • Vivathon & Junior Olympics for students and parents • Pan-India workshops and creative competitions The sports segment of Viva features 14 disciplines for boys and girls aged 5 to 19, including Basketball, Football, Cricket, Athletics, Gymnastics, Karate, Taekwondo, Table Tennis, Chess, and Swimming. A key highlight is the FIBA-endorsed All India Inter-School Basketball Championship, a premier competition for Under-14 Boys and Girls, held across 14 cities with the finals in Mumbai and Bengaluru. The championship offers cash prizes worth Rs. 3,00,000, with finalists receiving free travel, stay and meals for themselves and one accompanying adult. Parents play an integral role in Viva, participating in events like Box Cricket and the Vivathon, a fitness-driven community run offering competitive and non-competitive categories, including a special 5KM parent challenge. The cultural segment features the Stars Ensemble (Ages 12–18) and Junior Stars Ensemble (Ages 8–11), providing young performers a vibrant platform to showcase their talents in Dance, Music, Theatre, Poetry, Comedy, Magic, Fusion, and more. The segment is further elevated by the presence of renowned judges — choreographer Mr. Vaibhav Ghuge, singer, Mr. Vishwajeet Borwankar, actor Ms. Ketaki Narayan, and dancer & actress, Ms. Mythili Roy, whose expertise and mentorship inspire young artists to perform at their best. City-level auditions and finales across major metros, including Pune, celebrate outstanding performances with trophies, gift hampers, certificates, and prizes totalling Rs. 2,25,000. To encourage global participation, international participants are offered complimentary accommodation and meals, reflecting Viva’s commitment to inclusivity and fostering a truly pan-India and international cultural exchange. Ms Kavita Kerawalla, Vice-Chairperson of the VIBGYOR Group of Schools, commented on the new season, stating, “VIBGYOR Viva is more than just a festival; it is a celebration of curiosity, courage, and creativity. It reminds us that true education extends beyond the classroom, giving equal importance to sports, arts, and academics. Here, children discover their potential, learn the value of teamwork, and build lifelong connections. As we celebrate 17 years of Viva, we honour not only the talent on stage and the spirit of competition but also the educators, parents, and communities that nurture well-rounded growth, making this journey truly remarkable.” The festival’s lineup includes interactive workshops and both offline and online competitions in Performing Arts, Logic & Strategy, and Parent-Child Events. Participants can upload audition videos on www.vibgyorviva.com, allowing students from India and abroad to compete globally and connect virtually through Viva’s digital platform. VIBGYOR Viva is the annual cultural and sports festival of the VIBGYOR Group of Schools. Since its launch in 2009, the festival has grown into a pan-India platform celebrating student talent across diverse domains. Through sports, arts, and experiential learning, Viva continues to uphold VIBGYOR’s mission of holistic education and community engagement. About VIBGYOR Group of Schools Founded in 2004, VIBGYOR Group of Schools, recognised as Best Brand-Education of 2024 by The Economic Times, followed by the BW Education Top Education Brands Award 2024 for Academic Excellence in K-12, is a leading network of K-12 schools known for its academic excellence for over two decades. The Group offers a unique range of world-class educational programs for the holistic development of students in curricular and co-curricular studies across all its schools. Under the leadership of Mr. Rustom Kerawalla, Founder Chairman of the institution, VIBGYOR Group of Schools is nurturing the academic growth and development of over 55,000 students nationwide across its 40 schools in 15 major cities. VIBGYOR Group of Schools delivers international levels of education in affiliation with CISCE, CBSE and Cambridge International curriculum, from early years education to Grade 12. To schedule a school visit, call +91 600 3000 700 (Monday to Saturday, 9.00 am – 5.00 pm) or visit https://www.vgos.org/ To View the Image, Click on the Link Below: VIBGYOR Group of Schools launches Season 17 of VIBGYOR Viva (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI

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