Cross-border commercial engagement supports Indian and Sri Lankan businesses in identifying partnerships and strengthening trade and investment relationships. Cross-border trade and investment engagement between India and Sri Lanka is proposed through a commerce chamber delegation representing diverse Indian industry sectors. A networking session is intended to enable direct interactions between businesses, identify partnership opportunities, discuss commercial collaboration and develop new business connections. The engagement seeks to strengthen commercial relationships across participating industries within the established bilateral trade and investment relationship.
Foreign exchange market intervention limited rupee depreciation amid elevated oil prices, importer dollar demand, capital outflows and equity market weakness. Foreign exchange market conditions reflected an early appreciation of the rupee against the US dollar, with likely central bank intervention through state-owned banks reported as limiting sharper depreciation. Softer dollar conditions provided limited support, while elevated crude oil prices increased dollar demand from oil marketing companies and sustained importer buying pressure. Foreign institutional investor equity outflows, domestic equity weakness, and West Asia tensions affecting oil prices also influenced the rupee.
Money-laundering investigation examines alleged bank-loan fund diversion through shell entities, accommodation entries, fake invoices and circular transactions. A money-laundering investigation under the Prevention of Money Laundering Act concerns alleged bank-loan fraud involving Santosh Overseas Ltd., its promoters and linked entities. Searches were conducted at premises in Uttar Pradesh, Delhi and Punjab. The investigation, arising from a Central Bureau of Investigation case, alleges diversion and layering of loan funds through shell entities, accommodation-entry operators and related companies by means of purportedly fake invoices and circular financial transactions.
Forced-labour import prohibitions shape tariff treatment as India's policy amendment secures a lower rate for imported goods. Forced-labour import prohibitions are linked to tariff treatment under Section 301 of the Trade Act of 1974. Goods imported from India receive a lower tariff rate after India amended its foreign trade policy to prohibit imports of goods produced using forced labour. The framework excludes certain raw materials, goods causing economy-wide disruption, and products unavailable in sufficient domestic quantities. India has contested the underlying investigations and proposes that the issues be addressed through a bilateral trade agreement.
Integrated industrial city development promotes cross-learning on digital governance, investor facilitation, infrastructure planning and plug-and-play industrial parks. Industrial corridor development is being supported through cross-learning on AURIC Smart City's integrated planning, infrastructure and governance practices. The programme addresses master planning, utility systems, digital monitoring, land utilisation, investor facilitation, project implementation and coordination among implementing agencies. It also considers application of these practices to the Bharat Audyogik Vikas Yojana for plug-and-play industrial parks, with emphasis on integrated utilities, digital land management, investor-friendly approvals, sustainable infrastructure and multimodal connectivity.
WTO trade policy review highlights India's commitment to transparent trade rules, development policy space and multilateral engagement. India reaffirmed an open, transparent, predictable and WTO-consistent trade and investment regime through tariff reform, customs simplification and free trade agreement initiatives. Its trade policy was presented as balancing developmental needs with WTO principles: agricultural tariffs protect vulnerable farmers, while industrial tariffs support supply-chain resilience and domestic manufacturing. India also committed to transparent, consultative and rules-compliant sanitary measures, technical regulations and trade remedies, with investigations based on objective evidence, due process and judicial oversight, including continued application of the Lesser Duty Rule in anti-dumping matters.
Temporary Section 122 surcharge expiry may restore MFN treatment for Indian exports, while Section 301 tariff uncertainty continues. The US temporary Section 122 import surcharge on Indian goods is scheduled to expire unless extended or replaced, restoring affected imports to normal US MFN tariff treatment. Liability depends on entry for consumption or warehouse withdrawal. Section 232 national-security tariffs remain unchanged. Indian exports may still face fresh measures under Section 301 investigations into forced labour and excess manufacturing capacity, alongside potential country-specific or sectoral tariffs. The expiry may improve export competitiveness and market access, particularly for labour-intensive and MSME-driven sectors.
Quantum finance innovation will advance secure digital banking through cybersecurity, fraud detection, collaborative research, workforce development and digital literacy. A Quantum Finance Innovation Hub is proposed to apply quantum technologies to banking through stronger cybersecurity, proactive financial-fraud detection and secure digital financial ecosystems. The initiative will bring together industry, academia, startups, research organisations and government agencies to promote innovation in quantum computing, artificial intelligence and related technologies. It also focuses on workforce development, digital literacy, public confidence in digital financial services, and technology-enabled responses to cybercrime and digital-arrest scams.
Chief executive succession plan appoints a CEO designate, subject to shareholder approval, for an AI-led corporate leadership transition. Corporate leadership succession at Infosys is proposed through the appointment of Ashiss Kumar Dash as Managing Director and Chief Executive Officer designate from 1 April 2027. The five-year appointment is subject to shareholder approval and follows a recommendation of the Board's Nomination and Remuneration Committee. The incumbent will remain in office until the transition date and support an orderly transfer of responsibilities. The succession plan identifies the CEO designate's business, technology-delivery, client and global operations experience as relevant to AI-led transformation.
Bullion market pressure intensified as rising oil prices, inflation concerns and restrictive monetary policy expectations weakened gold and silver sentiment. Gold and silver prices declined amid weaker global bullion trends, profit-booking, and higher crude oil prices linked to Middle East tensions. Market commentary associated the decline with inflation concerns and expectations that major central banks may sustain restrictive monetary policy for longer. Gold was described as facing near-term pressure from higher interest-rate expectations, inflation risks, and geopolitical uncertainty.
Quantum finance innovation will develop secure, AI-enabled banking solutions through collaborative research, startup incubation, cybersecurity enhancement and workforce development. Quantum finance innovation is to be advanced through a memorandum of understanding for establishing the PNB Quantum Finance Hub at Amaravati Quantum Valley. The hub will develop, test and support adoption of secure, intelligent and future-ready banking solutions using Quantum Computing and Artificial Intelligence. It will bring together industry, academia, startups and government agencies for research, innovation, incubation and acceleration of financial technologies, focusing on cybersecurity, fraud detection, operational efficiency, risk management and customer experience.
Foreign investment in inventory-based e-commerce is allowed only for exports of Indian-made goods, while domestic retail remains prohibited. Foreign direct investment in inventory-based e-commerce is permitted exclusively for exports of goods or products manufactured or produced in India. Restrictions on business-to-consumer and inventory-based e-commerce do not apply to these exports, subject to the Foreign Trade Policy 2023 and export regulations. Foreign direct investment in inventory-based e-commerce retailing for domestic sales remains prohibited, with the revised position taking effect upon the relevant foreign exchange notification.
Joint Home Loan Eligibility and Shared Repayment Liability Shape Borrowing Capacity, Tax Claims, Documentation, and Exit Planning. Joint home loans allow eligible applicants to combine income for a single housing loan, while making every co-applicant fully responsible for repayment. Eligibility depends on each applicant's income, financial obligations, credit history, age, repayment capacity and property criteria. Applicants should agree on EMI sharing, ownership proportions and exit arrangements before applying, as removal of a co-applicant requires lender approval and reassessment. Co-owner borrowers may claim applicable interest and principal repayment deductions subject to ownership, contribution and income-tax requirements. Each applicant must provide separate identity, income and banking documentation.
Export competitiveness increasingly depends on regulatory compliance, preferential trade access and diversification into smartphones, medicines, petroleum products and semiconductors. India's export potential to 2031 is centred on smartphones, polished diamonds, petroleum products and medicines, with the United States, Hong Kong, Japan, China, Singapore and the United Arab Emirates as important markets. New product opportunities include iron ore concentrates, gasoline vehicles and light petroleum oils. Although selected destinations offer duty-free or preferential access, market entry in mature markets increasingly depends on compliance with non-tariff measures, including registration, quality certification, safety documentation and product standards. Semiconductor-related manufacturing is identified as a long-term opportunity supported by expanding electronics capacity, supply-chain diversification and domestic incentives.
Foreign investment in inventory-based e-commerce is permitted exclusively for exports of Indian-manufactured or produced goods under export compliance rules. Foreign direct investment in inventory-based e-commerce is permitted exclusively for exports of goods or products manufactured or produced in India. Foreign direct investment remains permitted in business-to-business e-commerce and the marketplace model, while business-to-consumer and inventory-based direct sales to consumers remain prohibited except for the specified export activity. Export-oriented inventory-based operations must comply with the applicable Foreign Trade Policy and foreign exchange regulations governing exports.
Women's leadership in credit expands through a Chennai community platform supporting mentorship, inclusive lending practices, and financial ecosystem collaboration. The Chennai chapter of the 'Credit Goes to HER' initiative provides a platform for women professionals in banking, NBFCs, fintech, housing finance, academia and policy to share knowledge, obtain mentorship and collaborate on inclusive credit practices. It seeks to strengthen women's leadership and participation in the credit ecosystem while supporting responsible lending, financial inclusion, transparency and data-driven decision-making.
Digital personal-loan campaign combines online collateral-free borrowing, eligibility-based assessment, flexible repayment options and conditional lifestyle rewards for successful disbursals. Digital personal-loan campaign permits eligible customers to apply online for collateral-free borrowing and receive specified lifestyle rewards upon successful disbursal, subject to campaign terms. Applicants may check an offer, provide personal, financial and employment information, review loan terms, complete know-your-customer and bank-account verification, and undergo assessment. Interest rates, loan amounts and repayment tenures depend on eligibility, credit profile, income and internal assessment. An EMI calculator supports comparison of repayment options and estimation of monthly instalments before application.
Foreign-exchange market pressure weakened the rupee as elevated crude prices and risk sentiment drove trading conditions. Foreign-exchange market movement saw the rupee depreciate against the US dollar amid elevated crude oil prices linked to heightened West Asia hostilities. Weak domestic equity markets and foreign investor equity outflows contributed to negative sentiment. Market commentary indicated that prospective Reserve Bank of India intervention supported the rupee and could limit sharper depreciation, while shipping-security concerns contributed to elevated oil prices.
Homebuyer refund claims in developer insolvency proceed through pro-rata distribution of funds deposited for eligible buyers. Homebuyer refund claims connected with demolished residential towers are being considered within the developer's insolvency proceedings. Buyers who have not opted for alternative allotment seek repayment. Eligible refunds are contemplated on a pro-rata basis from funds deposited by the Interim Resolution Professional, subject to the claims process and the availability of deposited funds.
Free trade agreement tariff reductions create investment opportunities for Asia-Pacific manufacturers seeking UK and European market access. The UK-India Free Trade Agreement is presented as reducing tariffs on advanced machinery and manufacturing-related goods and creating trade and investment opportunities for Asia-Pacific manufacturers seeking UK and European market access. Manchester is promoted as an investment location through its advanced manufacturing cluster, skilled workforce, innovation infrastructure, international links, and available manufacturing and research space. Invest Manchester provides investor support and undertakes international engagement to develop trade, investment and innovation partnerships.
Export duty was imposed on specified iron and steel products in May, 2008 which were modified in June, 2008. Considering the steep fall in the international prices recently, Government have decided to withdraw the export duty on certain items such as pig iron, iron and steel ingots, bars and rods, angles shapes, sections. However, scrap would continue to attract the existing rate of export duty.
Export duty of 15% ad valorem was imposed on iron ore (lumps and fines) in June, 2008. The international price of fines has gone down substantially making their exports unremunerative. With a view to improve the export competitiveness of the mining industry, and for protecting the interest of the employees engaged in this sector, the 15% ad valorem export duty on fines has been replaced with a specific duty of Rs.200 PMT. The rate of export duty on iron ore lumps continues to remain unchanged.
The aviation sector is experiencing financial stress, which is partly due to high price of Aviation Turbine Fuel (ATF). In order to give relief to this sector, the basic customs duty of 5% has been abolished. Though there are no imports of ATF and it is a freely priced petroleum product, the price of domestically produced ATF is based on import parity price factoring in the basic customs duty. The exemption would result in lowering of the base price of ATF and, consequently, lowering the incidence of excise duty and VAT, giving substantial relief to the aviation sector.
In order to provide the required protection to domestic ferro-molybdenum and ferro-vanadium industry, the full exemption from basic customs duty has been withdrawn. These items will now attract basic customs duty of 5% .
The above duty changes will be effective from 31.10.2008.
Export duty changes alter export and customs treatment for iron ores, steel products and aviation fuel pricing.
Modifications to export and customs duties effective 31.10.2008: export duty withdrawn on specified iron and steel products while scrap retains its duty; ad valorem export duty on iron ore fines replaced by a specific export duty of Rs.200 per metric tonne and duty on iron ore lumps remains unchanged; basic customs duty on Aviation Turbine Fuel abolished; full exemption for ferro molybdenum and ferro vanadium withdrawn and these items will attract basic customs duty at the newly stated rate.
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