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    Keralam CM flags off containers from Vizhinjam, marking start of EXIM operations
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August 18, 2026
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EXIM operations at Vizhinjam commence with container movement, supported by investor facilitation, infrastructure backing and port-led logistics development.
EXIM operations at Vizhinjam international seaport commenced with the flagging off of two containers after a successful trial export shipment. The state government proposes investor engagement, regulatory facilitation and infrastructure support to expand global export activities through the port. Mission Samudra is to operate as a port-led industrial and logistics development scheme. The deep-water port was developed under a public-private partnership model and had received commercial commissioning certification.
August 18, 2026
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Money-laundering investigation under PMLA expands through searches into alleged consultancy payments linked to CMRL and Exalogic Solutions.
Money-laundering investigation under the Prevention of Money Laundering Act involves fresh searches connected with Cochin Minerals and Rutile Ltd and Exalogic Solutions. The inquiry concerns alleged fraudulent payments made under the guise of IT consultancy services and a purported money trail involving persons allegedly connected with those transactions. The action follows earlier searches and questioning in relation to the same matter.
August 18, 2026
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Recruitment examination irregularities trigger money-laundering investigation into alleged bribery, paper leaks, answer-sheet tampering, and preferential veterinary officer selections.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in veterinary officers' final selection through a public recruitment examination. Searches covered premises linked to commission officials, alleged intermediaries, the digital evaluation entity, and selected candidates. Allegations include bribery demands, examination-paper leakage, OMR answer-sheet tampering, and facilitation of selection for relatives of commission officials.
August 18, 2026
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Export-import operations advance through operational preparedness review and planned port-led industrial and logistics development initiatives.
Operational preparedness for full land-based export-import operations at Vizhinjam Seaport was reviewed, including the Vehicle Traffic Management System. EXIM cargo operations follow a trial shipment of the port's first export container to Valencia. Mission Samudra is proposed to support port-led industrial and logistics development alongside these operations. The deep-water port was developed through a public-private partnership model and had obtained commercial commissioning certification before its dedication to the nation.
August 18, 2026
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Industrial corridor development prioritises empowered SPVs, integrated infrastructure and investor-ready parks to accelerate manufacturing investment and operations.
National Industrial Corridor Development Programme implementation prioritises timely infrastructure completion, land allotment, investment mobilisation and commencement of manufacturing. PM GatiShakti-aligned planning requires integrated connectivity, utilities and social infrastructure, while States should resolve land, clearance and SPV-power bottlenecks. BHAVYA proposes investment-ready, plug-and-play industrial parks appraised for ready land, credible demand, connectivity, utilities, realistic phasing and early investor attraction. NICDIT routes Government participation and equity support for BHAVYA project SPVs, and NICDC coordinates implementation and monitoring.
August 17, 2026
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RERA compliance exemption for stalled housing projects raises whether statutory obligations may be waived to enable phased project completion.
RERA compliance exemption is sought for completion of 16 stalled residential projects by a public sector construction entity appointed under a project-completion arrangement. The appellate insolvency tribunal declined to direct a waiver, considering itself incompetent to exempt compliance with statutory provisions. The arrangement requires phased completion, award and commencement of construction work, and oversight through an apex committee and project-wise committees. The projects remain incomplete owing to the developer's financial crisis.
August 17, 2026
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Deposit mobilisation and youth banking guide strategies for stronger public financial institutions, investment financing and Global Capability Centre opportunities.
PSB Confluence 2026 considers strategic priorities for Public Sector Banks and Public Financial Institutions across deposit mobilisation, banking for youth, investment-cycle financing and Global Capability Centres. Discussions seek practical, scalable strategies to strengthen customer engagement, youth-responsive banking propositions, institutional financing capabilities and participation in the expanding Global Capability Centre ecosystem. Youth engagement may use the MY Bharat platform to strengthen links with the formal financial system and awareness of education finance, entrepreneurship, internships and financial-sector careers. Further themes include value-chain infrastructure, priority sector lending and credit card business reform.
August 17, 2026
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Banking-sector reform will guide lender capacity, financial stability, inclusion, consumer protection, deposit growth and responsible credit-card expansion.
Banking-sector reform is proposed through a high-level committee on Banking for Viksit Bharat to review the sector and align it with growth needs while safeguarding financial stability, financial inclusion and consumer protection. Key themes include deposit mobilisation, youth banking, investment support, global capability centres, value-chain infrastructure, credit cards and priority-sector lending. Public-sector banks are expected to improve competitiveness through technology, sectoral expertise, product adaptation and customer-focused deposit growth. Credit-card development must maintain responsible underwriting, customer protection and appropriate risk controls.
August 17, 2026
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FCNR(B) concessional swap facility availability narrows to timely mobilised deposits amid rupee depreciation and foreign currency inflow concerns.
Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.
August 17, 2026
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Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
August 17, 2026
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Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
August 17, 2026
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SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
August 17, 2026
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FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
August 16, 2026
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Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
August 16, 2026
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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.

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Customs & Trade

Tariffs, Russia, conflict with Pakistan, H-1B: When 2025 tested India-US ties

December 28, 2025

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New York/Washington, Dec 28 (PTI) The US and India ties in 2025 have been a rollercoaster ride as punitive and reciprocal tariffs, a conflict with Pakistan and stringent immigration policies strained and tested the bilateral relationship in a manner not seen in decades.

However, Prime Minister Narendra Modi’s visit to the US to meet President Donald Trump and the signing of the 10-year defence framework pact between the two countries were seen as the high points in the relationship.

The year began on an exemplary note with Modi’s visit to Washington, DC, for his first bilateral meeting with Trump in his second term in the White House in February.

Modi was only the fourth foreign dignitary - after leaders of Israel, Japan and Jordan - to meet Trump within weeks after his inauguration as 47th US President.

The meeting encapsulated the strengthening US-India strategic partnership.

Trump and Modi announced plans to negotiate the first tranche of a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA) by the fall of 2025, aiming to more than double trade to USD 500 billion by 2030.

A month earlier, External Affairs Minister S Jaishankar sat in the front row inside the US Capitol Rotunda when he attended Trump’s inauguration on January 21, representing the Government of India.

Hours later, the newly sworn-in Secretary of State Marco Rubio hosted Jaishankar, Japan's Minister for Foreign Affairs, Takeshi Iwaya and Australian Foreign Minister Penny Wong for the first Quad Foreign Ministers’ Meeting of the new Trump administration.

But as the months rolled on, bilateral ties that were going full steam ahead encountered stumbling blocks in the form of differences over tariffs and trade.

In his address to the Joint Session of Congress, Trump criticised India and other countries for the high tariffs they charged on American products, the first of the many statements he made over the course of the year slamming the high levies imposed by India.

While Trump described India as a "very high tariff nation”, members of his administration too did not hold back in their criticism, with his trade adviser Peter Navarro calling India the ‘Maharaja of tariffs’.

On April 2, which Trump proclaimed as ‘Liberation Day’, he slapped reciprocal tariffs on countries around the world and announced a 26 per cent “discounted reciprocal tariff” on India, half of the 52 per cent levies imposed by it on American goods.

However, Trump announced on various occasions that a trade deal with India would happen “soon”.

The two nations made "significant progress" towards a mutually beneficial bilateral trade pact when US Vice President JD Vance visited India and held wide-ranging talks with PM Modi.

Vance and Modi announced the Terms of Reference for the bilateral trade agreement between the US and India.

It was around the time that Vance was in India that a horrific terror attack took place on April 22 in Pahalgam perpetrated by The Resistance Front, a proxy of Pakistan-based terror group Lashkar-e-Taiba, in which 26 civilians were killed.

In retaliation, India launched Operation Sindoor targeting terror infrastructure in Pakistan and Pakistan-occupied Kashmir. On May 10, the fourth day of the conflict, Trump suddenly announced on his Truth Social page that the US had brokered a ceasefire between India and Pakistan.

And since May 10, Trump has now repeated the claim more than 70 times that he solved the conflict between India and Pakistan and that he used trade to bring the fighting to an end.

In June, Modi and Trump were scheduled to meet on the sidelines of the G7 Leaders’ Summit in Kananaskis, Canada, but Trump returned to Washington early. The two leaders, however, spoke on June 17, a 35-minute phone call.

Foreign Secretary Vikram Misri said that Modi clearly conveyed to Trump that at “no point” during the days following Operation Sindoor was there any discussion, at any level, on an India-US Trade Deal, or any proposal for a mediation by the US between India and Pakistan.

Trump has been critical of India’s purchases of Russian oil and, in August, imposed an additional 25 per cent levy on Indian imports, bringing the total tariffs imposed on India to 50 per cent, among the highest in the world.

US lawmakers have condemned the tariffs imposed by Trump on India, with Indian-American Congressman Raja Krishnamoorthi saying the levies place an "unnecessary strain” on Washington’s relationship with Delhi.

The Trump administration has also intensified its crackdown on immigration, both legal and illegal, imposing new and stringent restrictions on visas such as H-1B, which are used by a large number of Indian professionals to live and work in the US.

Describing abuse of the H-1B programme as a national security threat, Trump signed a proclamation imposing a USD 100,000 fee on new H-1B visas, a move that caused widespread panic, confusion and concern among Indian professionals.

Later, Trump also appeared to defend the H-1B visa programme, saying America has to bring in talent from around the world as it does not have “certain talents” in the country.

Even as Washington and New Delhi dealt with these complications, there were areas of cooperation between the two sides that stood out this year.

Highlighting the strong counter-terrorism cooperation, the US extradited Tahawwur Hussain Rana to India to face justice for his role in planning the 2008 Mumbai terror attacks. Further, the US designated The Resistance Front as a foreign terrorist organisation.

The two countries also signed a 10-year defence framework pact in October as a "signal" of growing bilateral strategic ties even as Washington vowed to work closely with New Delhi to ensure a free and open Indo-Pacific.

Defence Minister Rajnath Singh and US Secretary of War Pete Hegseth signed the framework agreement for the 'US-India major defence partnership' pact following their wide-ranging talks in Kuala Lumpur amid efforts by the two sides to repair ties.

Despite challenges in bilateral ties, conversations between Trump and Modi underline the strategic importance of the relationship.

Modi recently said he had a "very warm and engaging conversation" with President Trump, and they reviewed the progress in bilateral relations and discussed regional and international developments.

"India and the US will continue to work together for global peace, stability and prosperity,” Modi said.

Trump, who has described Modi as a “great friend of mine” and “a great Prime Minister”, has indicated he could travel to India next year.

There is bipartisan consensus in Washington over the strategic and geopolitical importance of strong India-US ties. PTI YAS ZH RD RD RD

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