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    India placed in lower 10 pc US tariff bracket; reaffirms commitment to BTA
    Ratnaveer Precision Engineering Reports 20% Revenue Growth and 21% PAT Growth in Q1 FY27
    India placed in lower tariff tier at 10 pc under US Section 301 measures on forced labour: Govt
    ED report says CMRL ex-MD cited Veena’s ties to then Kerala CM for payments
    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman outlines 5Rs of responsive tax governance; Calls for greater tax certainty and ...
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    World shares are mixed and oil prices fall, markets in Asia skid in sell-off of AI-related shares
    Sitharaman ask I-T officials to go after tax evaders, ensure convenience for honest taxpayers
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    Rupee recovers 20 paise to settle at 96.53 against US dollar
    Sri Lanka welcomes US tariff reduction
    DPIIT's One District One Product Initiative Promotes 1,244 Unique Products Across 773 Districts
    India's Services Exports Rise to USD 421.3 Billion in FY 2025-26, Led by Telecommunications, Computer and Information Services and Business Services
    India and Israel Conclude Second Round of Negotiations for Proposed Free Trade Agreement
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    India's forex reserves jump USD 1.08 billion to USD 676.237 billion
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    Stock markets extend losses for 5th straight day on US trade tariffs, West Asia tensions
    China slaps export controls on 14 EU entities in retaliation for Russia-related sanctions
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    July 25, 2026
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    Forced-labour import tariffs place Indian goods under an additional duty while exemptions preserve access for specified exports.
    A 10 per cent Section 301 additional import duty applies to specified Indian goods over and above ordinary most-favoured-nation duty, following a forced-labour-related investigation. Generic pharmaceuticals, smartphones, other specified products, and goods already subject to Section 232 sectoral duties remain outside the additional levy. The textile-specific mechanism has not yet been operationalised for India, while tariff-rate quota concessions using US-origin cotton and fibre were announced for certain other economies. India continues engagement on a bilateral trade agreement and tariff access for garments using American inputs.
    July 25, 2026
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    Copper Clad Laminate expansion advances through policy and rights-issue approvals, supporting domestic electronics manufacturing and strategic growth initiatives.
    The company reported progress on a proposed Copper Clad Laminate manufacturing project, including in-principle approval under the Gujarat Electronics Policy and substantial project completion. The facility is intended to support domestic electronics manufacturing and reduce import dependence. It also reported upgraded credit ratings, enhanced rated bank facilities, and stock-exchange in-principle approvals for a proposed rights issue supporting expansion and strategic growth initiatives.
    July 25, 2026
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    US forced-labour tariffs place India in a lower tier while preserving exclusions for specified imports and Section 232 products.
    US Section 301 forced-labour measures impose an additional 10 per cent tariff on imports from India, with India placed in a lower tariff tier than initially proposed. Generic pharmaceuticals, smartphones and certain specified products outside additional duties remain excluded, as do products already covered by Section 232 measures, including steel, aluminium and auto parts. The textile-specific mechanism has not yet been established or operationalised, and engagement continues in connection with bilateral trade agreement negotiations.
    July 25, 2026
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    Money-laundering investigation examines alleged fictitious expenses, circular vendor payments, and consultancy payments without services or deliverables.
    A money-laundering investigation alleges misappropriation through fictitious expense entries, unsupported vouchers, and inflated vendor invoices used to withdraw funds in cash. The Enforcement Directorate further alleges that payments described as software or IT consultancy expenses were made to Exalogic Solutions Pvt Ltd and Veena T without services or deliverables. The report cites statements concerning the alleged sham payments, Exalogic's dependence on company funds, and subsequent transfers from its account. The PMLA case is based on a prosecution complaint concerning suspected financial irregularities.
    July 25, 2026
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    Tax certainty and taxpayer-centric administration drive simplified compliance, reduced litigation, digital service delivery, and stronger voluntary tax compliance.
    Tax administration reform under the Income-tax Act, 2025, rules and forms is directed toward a simpler, transparent and taxpayer-centric system. Key priorities include reducing compliance costs and litigation through tax certainty, faster return processing, refunds, grievance redressal, voluntary compliance and timely appeal disposal. Digital initiatives, including PAN 2.0, ITBA 2.0, IEC 3.0, Kar Saathi and SAKSHAM NUDGE, are intended to simplify compliance and improve taxpayer experience. Capacity building in technology, international taxation, transfer pricing, digital assets and cybersecurity supports this reform agenda.
    July 24, 2026
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    Trade Practice Investigation: Tech-company antitrust fines prompt proposed tariffs and trade sanctions under federal trade law mechanisms.
    A formal investigation into alleged unfair trade practices has been announced in response to European regulatory fines imposed on major United States technology companies. The stated concern is that digital antitrust penalties are unfairly directed at United States businesses, with possible tariffs on European Union imports indicated. The proposed response is linked to Section 301 of the Trade Act of 1974, permitting import taxes and other sanctions against unjustifiable, unreasonable or discriminatory trade practices.
    July 24, 2026
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    Import tariffs and energy costs heighten inflation risks, pressuring consumers, corporate profits and monetary-policy expectations amid market volatility.
    Fresh tariffs on imports, rising energy prices and Middle East conflict are identified as concurrent pressures on global financial markets. The tariff measures apply to nearly all imports into the United States and are paid by importing companies, which typically pass the additional costs to consumers. Higher energy costs and tariffs may increase inflationary pressure, reduce household discretionary spending and affect corporate profitability, while influencing monetary-policy expectations. Investors also questioned whether substantial artificial-intelligence investment can support technology-sector valuations.
    July 24, 2026
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    Responsive tax governance promotes taxpayer convenience, correction of bona fide errors, tax certainty, prompt refunds and prevention of avoidable litigation.
    Responsive tax governance requires convenience for honest taxpayers, correction of bona fide errors and firm consequences for deliberate tax evasion. The Income Tax Act, 2025 is intended to simplify the legal framework, reduce uncertainty and lower compliance costs, supported by stronger electronic filing infrastructure and prompt refund processing. Tax certainty should promote voluntary compliance and shift the focus from litigation management to litigation prevention through consistent guidance, simplified procedures, technology, standardised processes, effective grievance resolution and reduction of recurring taxpayer difficulties.
    July 24, 2026
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    Examination integrity safeguards prompt monitoring, enforcement action and proposed stricter penalties for paper leaks and institutional failures.
    Examination integrity measures include reported termination of agency officials, contemplated legal and criminal action, proposed stricter punishment for paper leaks, and Supreme Court monitoring of preventive steps. The Supreme Court also prohibited unauthorised posting or uploading of audio-video court proceedings on social media and digital platforms without prior administrative permission. The updates further address taxpayer facilitation alongside firm action against evasion, trade measures connected with forced-labour concerns, and potential legal action concerning university communications to students.
    July 24, 2026
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    Foreign exchange market stabilisation supported rupee recovery as investor outflows, geopolitical tensions and elevated crude prices maintained currency pressure.
    Foreign exchange market conditions saw the rupee recover against the US dollar amid reports of Reserve Bank of India intervention and dollar sales by public-sector banks to limit further depreciation. Foreign institutional investor outflows, weak domestic equity sentiment, geopolitical tensions, and elevated crude oil prices continued to pressure the currency. A decline in crude prices, diplomatic engagement, and central-bank intervention were identified as potential stabilising factors.
    July 24, 2026
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    Forced-labour import prohibition enabled lower tariff treatment for Sri Lankan goods, supporting export competitiveness and responsible trade practices.
    Tariff treatment for Sri Lankan goods entering the United States was reduced after Sri Lanka prohibited imports of goods produced using forced labour. The prohibition placed Sri Lanka within the lower tariff category under the stated US framework. The reduction is described as supporting exporter competitiveness while reflecting commitments to fair trade, responsible business practices, internationally accepted labour standards, and sustainable economic reforms.
    July 24, 2026
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    One District One Product strengthens district product branding, market access, food-processing support and export-oriented value chains.
    The One District One Product initiative supports district-identified products through branding, market access, exhibitions, capacity building and Government e-Marketplace onboarding. States and Union Territories select products and may leverage Central and State schemes, as no district-specific allocation is made. PM Ekta Malls and the PMFME Scheme support sales, food-processing projects, common infrastructure, branding, packaging, quality standardisation and food-safety compliance. Districts as Export Hubs promotes export-potential products through export committees, action plans and value-chain coordination.
    July 24, 2026
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    Services export promotion expands market access, professional mobility, qualification recognition and trade outreach for Indian service suppliers.
    Services export promotion combines targeted market and sector strategies, removal of domestic impediments, trade agreements and export-promotion activity. Free Trade Agreements secure market access and national treatment for Indian service suppliers, support transparent and time-bound authorisation processes, and facilitate temporary mobility of skilled professionals. Mutual Recognition Agreement provisions seek recognition of qualifications and licensing requirements. The framework also addresses social-security coordination, student mobility, traditional medicine and double-taxation commitments for IT services. The Services Export Promotion Council supports market development, trade facilitation, capacity building and international outreach.
    July 24, 2026
    Show AI Summary
    Free trade agreement negotiations advance as India and Israel address market access, origin rules, customs facilitation and economic cooperation.
    India and Israel completed the second round of negotiations for a proposed Free Trade Agreement under the Terms of Reference signed in November 2025. Technical discussions covered trade in goods and services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, intellectual property rights, customs procedures, trade facilitation and economic cooperation. Both sides sought to narrow gaps, identify areas of convergence and work towards early conclusion of a balanced, comprehensive and mutually beneficial agreement.
    July 24, 2026
    Show AI Summary
    Direct card acquiring enables cross-border merchants to manage payment processing, settlement, risk monitoring and disputes without intermediary acquirers.
    Visa Principal Membership enables Glomo to operate as a direct non-bank acquirer for Visa-powered merchant card payments through GIFT IFSC. It allows direct management of merchant acquisition, processing, settlement, transaction approval optimisation, fraud and risk monitoring, and dispute and chargeback handling without intermediary acquirers. The arrangement is intended to accelerate onboarding and processing, enhance control over risk policies and merchant experience, and support cross-border acceptance and settlement, including management of multiple currencies, banking systems and regulatory requirements.
    July 24, 2026
    Show AI Summary
    Foreign exchange reserves rose as foreign currency assets increased, while gold reserves fell and IMF reserve position declined.
    Foreign exchange reserves increased during the reported week, principally because foreign currency assets rose, including valuation effects from movements in non-US currencies held in reserve. Gold reserves declined, Special Drawing Rights increased, and the reserve position with the International Monetary Fund decreased. Earlier reserve declines were associated with rupee pressure and foreign-exchange market intervention through dollar sales.
    July 24, 2026
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    Consumer electronics financing enables instalment purchases of affordable earbuds through in-store loan and reusable credit facilities, subject to approval.
    Affordable Boult earbuds are described as offering extended battery life, fast charging, dynamic drivers, low-latency gaming modes, Environmental Noise Cancellation, Bluetooth connectivity, and selected active noise-cancellation features. Models are compared by audio, calling, gaming, and charging specifications. Purchases through partner stores may be financed through an Easy EMI Loan or Insta EMI Card, subject to in-store application and approval, with instalment tenures and possible zero-down-payment offers on selected models.
    July 24, 2026
    Show AI Summary
    Trade-tariff concerns and oil-price volatility deepen risk aversion, extending equity market losses amid geopolitical tensions and foreign outflows.
    Indian equity markets extended their losing streak amid caution over United States trade-tariff concerns, West Asia tensions, oil-price volatility, foreign equity outflows and selling in selected blue-chip shares. Higher oil prices were identified as a potential pressure on macroeconomic indicators and growth prospects. New import tariffs were described as a constraint for export-oriented economies, particularly technology-heavy markets, while investors may diversify exposure across emerging-market opportunities.
    July 24, 2026
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    Dual-use export controls restrict supplies to European entities amid reciprocal Russia-related sanctions and non-proliferation concerns.
    China imposed dual-use export controls on 14 European entities in response to European Union sanctions affecting Chinese and Hong Kong enterprises. Chinese companies cannot export dual-use items to the listed organisations, and foreign companies are barred from supplying them with dual-use items made in China. China stated that the restrictions protect national security and interests and support international non-proliferation obligations in the context of Russia-related sanctions.
    July 24, 2026
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    Foreign-exchange market intervention supported rupee stabilisation amid investor outflows, weak equities, geopolitical tensions and elevated crude oil prices.
    Foreign-exchange market conditions supported a rupee recovery against the US dollar following reported Reserve Bank of India intervention and dollar sales by public-sector banks. Pressure on the currency persisted due to foreign institutional investor outflows, weak domestic equity sentiment, geopolitical tensions and elevated crude oil prices. Lower crude prices, a weaker dollar index and further central bank intervention were identified as potential stabilising influences.

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      Rolls-Royce plans big investment in India; eyes jet engine, naval propulsion programmes

      December 28, 2025

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      New Delhi, Dec 28 (PTI) British aero-engine maker Rolls-Royce on Sunday said it is looking at making India its third "home market" outside of the UK in line with a plan to unlock the full potential of opportunities across an array of domains, including jet engines, naval propulsion, land systems and advanced engineering.

      In an interview to PTI, Sashi Mukundan, the executive vice president of Rolls-Royce India, elaborating on the move, said the company is planning for a "big investment" in the country, and listed developing a next-generation aero engine in India as a priority to power the combat jets that New Delhi will produce under the Advanced Medium Combat Aircraft (AMCA) programme.

      Mukundan also highlighted how Rolls-Royce can contribute significantly to addressing India's requirement for electric propulsion capability for boosting the Indian Navy's combat prowess.

      The AMCA engine core can be modified into a naval marine engine and it can also be used for electric propulsion, he suggested, noting that Rolls-Royce is among a very few engine makers globally to have the capability to "marinize the aero engine".

      Mukundan, without divulging specific details, said Rolls-Royce was eyeing making a significant investment to expand its footprint in India, noting that the country has "scale, policy clarity and a strong push" towards a defence and industrial ecosystem that is expanding rapidly and becoming more sophisticated.

      "If everything goes well, it would be a significant investment. It'll be big enough that people will notice it, but I don't want to put a number to it. What matters is the impact of this investment, which would be the development of the entire value chain and ecosystem here across sectors that we operate in," he said.

      The top Rolls-Royce executive said the company will firm up two Memorandums of Understanding (MoUs) with two defence public sector undertakings in India. While one pact is for manufacturing the engines for the Arjun tanks, the other is for engines for the future ready combat vehicles.

      In October, CEO Tufan Erginbilgic, during a business roundtable had conveyed to Prime Minister Narendra Modi that India is going to be very critical for Rolls-Royce going forward.

      "We have developed two other home markets outside the UK -- the US and Germany. We want to make India our next one. What do we mean by that? We want to do everything across the field, and it's not just defence," Mukundan said.

      "That ambition cuts across defence, naval propulsion, land systems, manufacturing, advanced engineering skills and technology development, all of which align closely with India's own priorities," he said.

      On the engines for AMCA, Mukundan said extensive discussions and background work are underway on how to move forward.

      "If India is thinking about next-generation engines, Rolls-Royce is probably the best partner. We have the capability, we have the experience both in India and globally, and we have repeatedly demonstrated that we can do it," he said.

      Mukundan said all of the engine design work can be done in India, with the relevant technology transferred and all new intellectual property (IP) rights can be jointly owned with India.

      "Once you own design IP, you have strategic control. Manufacturing then becomes the next stage, and that is always more complex. It's about ensuring that capability is built systematically and safely," he said.

      The top executive said that Rolls-Royce engines for AMCA could be helpful for India in developing electric propulsion for naval engines.

      Elaborating on it, he said essentially, electric and hybrid propulsion naval engines are marine gas turbines, which are built from the aero engine core.

      "Rolls-Royce is one of the few engine makers who have the capability to marinize the aero engine at scale. Why this matters is that it is not viable to build an entire marine propulsion supply chain from scratch here because the quantities in the navy are very low," he said.

      "But if the aero-core derivative is built and co-designed in India, the overlapping supply chain becomes justifiable and can support both the aero and naval marine," he noted.

      Mukundan also highlighted Rolls-Royce's dominance in the global jet engine manufacturing.

      "If we look at it globally, we've been building and certifying engines every 18 months, including combat and commercial. If I talk specifically about combat, we power the Eurofighter Typhoon with our EJ200 engine, which is one of our recent engine programmes, with 90 kilonewton thrust capacity." He also said that Rolls-Royce is leading the mandate of the Global Combat Aircraft Programme, which is an initiative of the UK, along with Japan and Italy, to develop a sixth-generation aircraft engine.

      "We were also part of a joint program where GE and Rolls-Royce together developed an engine specifically for the fifth-generation F-35, which is another example of recent engine development, particularly in the thrust range or even above the thrust range that India is looking to build," Mukundan said.

      The F-136 engine was the only engine specifically developed for the F-35 aircraft, with engine development led by GE Aviation and Rolls-Royce.

      The executive vice president sounded bullish on India and especially pointed out the Indian government's "visible focus" on building indigenous capability across naval, land and air domains.

      "Over the long term, India will be a major global power. And India is increasingly supporting others in the Global South. For us, there is a lot to work with, and it is all linked," he said.

      "It's not just about market access; India is one of the few places where all the pieces genuinely fit together." "For Rolls-Royce, that makes India not just an important market, but a long-term strategic home," he said.

      Mukundan also briefly touched upon the commercial aviation sector in India and described it as a rapidly growing market where Rolls-Royce has the most advanced technology offerings to power and propel the growth.

      "We are already partnering in expansion plans of some of the biggest carriers in the country." "Then there is energy security where we are supporting backup power generation for critical defence and civil infrastructure, such as airports, as well as data centres and the semiconductor industry," he said. PTI MPB RT RT RT

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