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    India and Israel Conclude Second Round of Negotiations for Proposed Free Trade Agreement
    Glomo Secures Visa's Principal Membership, Becomes India's First Non-Bank Acquirer to Join the Network
    India's forex reserves jump USD 1.08 billion to USD 676.237 billion
    Boult Earbuds in India 2026: Five Reasons They are the Smartest Budget Pick
    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
    Rupee recovers 18 paise to settle at 96.55 against US dollar
    Infosys: AI Revenues at 8.2% in Q1; Resilient Operating Margin of 21.1%
    Shares skid in Asia in sell-off of AI-related shares as Brent oil trades near $100 per barrel
    30-member Indian commerce chamber delegation to visit Sri Lanka
    Rupee rises 22 paise to 96.51 against US dollar in early trade
    ED conducts raids in UP, Delhi and Punjab in Rs 450-crore bank loan 'fraud'
    US slaps 10 per cent tariff on goods imported from India over forced labour concerns
    NICDC Organises Cross-Learning Site Visit to AURIC Smart City to Strengthen Industrial Corridor Development
    India Concludes Eighth Trade Policy Review at WTO in Geneva
    US' temporary 10 pc tariff set to expire on Friday unless extended or new duties announced
    PNB to establish Quantum Finance Innovation Hub in Amaravati
    Infosys veteran Ashiss Kumar Dash to succeed Salil Parekh as new CEO in 2027
    Gold falls Rs 400 per 10 grams amid surging oil prices
    PNB and Andhra Pradesh sign MoU to establish India's first Bank-led Quantum Finance Hub at Amaravati
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    July 24, 2026
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    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
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    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
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    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
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    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.
    July 24, 2026
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    Forward-looking statements receive safe-harbor qualification amid reported IFRS performance, AI-led transformation initiatives, and revised revenue-growth guidance.
    Infosys reported first-quarter IFRS financial performance, including revenue growth, operating margin, earnings per share, free cash flow, and large-deal contract value, while revising revenue-growth guidance and retaining operating-margin guidance. The release describes AI-led enterprise transformation, cloud modernization, digital banking, financial-crime operations, and technology services engagements. Forward-looking statements are subject to safe-harbor protection and may differ materially because of business, talent, economic, technological, regulatory, cybersecurity, litigation, investigation, and tariff-related risks.
    July 24, 2026
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    Forced-labour import enforcement drives new tariffs as expiring stopgap levies and market uncertainty heighten trade-compliance concerns.
    Import tariffs were announced on goods from trading partners said not to have fully enforced prohibitions on products made with forced labour. The measures apply to imports from 60 trading partners representing most United States imports and were introduced as existing stopgap levies approached expiry, following a Supreme Court setback affecting other tariff measures. The announcement occurred amid market uncertainty linked to energy-route disruptions, rising crude-oil prices, inflation concerns, and scrutiny of artificial-intelligence investment spending.
    July 24, 2026
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    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.
    July 24, 2026
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    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.
    July 24, 2026
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    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.
    July 24, 2026
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    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.
    July 24, 2026
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    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.
    July 24, 2026
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    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.
    July 23, 2026
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    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.
    July 23, 2026
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    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.
    July 23, 2026
    Show AI Summary
    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.
    July 23, 2026
    Show AI Summary
    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.
    July 23, 2026
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    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.

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      UP records highest domestic tourism among states in 2025; fourth in terms of foreigner visits

      December 29, 2025

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      Lucknow, Dec 29 (PTI) Extensive renovation of religious, cultural and historical sites, along with the development of modern tourism infrastructure, have posited Uttar Pradesh as the most popular destination for domestic tourism and in fourth place in terms of foreign tourist arrivals.

      According to data released by the Ministry of Tourism, Government of India, more than 137 crore domestic tourists visited Uttar Pradesh in 2025, besides 3.66 lakh foreign tourists, the state government said in a statement on Monday.

      The most significant contributor to this achievement was the grand Mahakumbh 2025 in Prayagraj, which witnessed a historic footfall of over 66 crore devotees, the statement said, adding that Ayodhya, Varanasi, Mathura Vrindavan and Shravasti have emerged as major tourism hubs.

      New avenues of religious and cultural tourism have developed across the state, the statement asserted, saying regular events organised by the tourism and culture department such as the 'Deepotsav', 'Rangotsav', 'Dev Deepawali' and 'Magh Mela' have become major attractions for tourists from India and abroad.

      Uttar Pradesh has always been a vital centre of Indian culture and history, but tourism destinations that remained neglected before 2017 have been revived and transformed under the leadership of Chief Minister Yogi Adityanath, it said.

      Along with restoration, emphasis was laid on strengthening transport, hospitality and connectivity. Improved air connectivity, expanded rail and bus services, and growth of accommodation facilities have led to a significant rise in foreign tourist arrivals.

      According to statement, in 2025, the state tourism department initiated development projects worth Rs 1,283.33 crore.

      Major projects include beautification of ghats in Varanasi, construction of an integrated circuit house and convention centre, development of the Kalinjar integrated route in Chitrakoot, and creation of tourist facility centres along the Ram Van Gaman Marg.

      Restoration work is in progress at Bhagwanpur Temple in Moradabad, Ajitashram Yog Kunj in Shahjahanpur, Valmiki Nagar's Lav Kush Kuti, Tretayug Bhoomi Kuti, Bharatkothi, Sita Rasoi and Kausalya Sthal.

      Additionally, five new projects worth Rs 7 crore were launched through district tourism units. Under the Mukhyamantri Tourism Development Cooperation Scheme, two projects were approved this year, while four more are set to receive approval soon.

      The tourism department, in co-ordination with other departments, organised several large scale cultural events throughout the year, taking tourism in the state to new heights. The most prominent among them was the Mahakumbh 2025 in Prayagraj, which attracted record numbers of tourists from the country and abroad.

      The grand Deepotsav at Ayodhya broke its own Guinness World Record for the lighting of earthen lamps, while the world's largest Ram Takht showcased during the Ramleela in Varanasi was also recorded in the Guinness Book of World Records.

      Performances such as 'Ram Katha' on the ghats of the Ganga, Kathak dance presentations, 3D holograms and projection mapping created an unforgettable experience for visitors.

      During Holi, events like Rangotsav in the Braj region, 'Chilka Holi' of Ramnagar, Holi of Kashi and 'Lathmar Holi' of Mathura mesmerised tourists.

      In 2025, festivals including 'Ghaghra Mahotsav', 'Brahma Mahotsav', 'Makar Sankranti Mahotsav', 'Dudhi Mela', 'Ghazipur Mahotsav', 'Varanasi Mahotsav' and 'Lalgarh Mela' of Chitrakoot led to a notable rise in tourist numbers, revenue generation and local employment, the official release exalted.

      According to the statement, the Uttar Pradesh Tourism Policy 2022 has ensured multi-dimensional development of tourism in the state. Under this policy, 1,757 tourism units have been registered on the Uttar Pradesh tourism portal while investment proposals worth Rs 37,688.58 crore have been received.

      To promote Uttar Pradesh tourism globally, the department participated in major international platforms including Zurich Travel Mart, Global Travel Market 2025, Paris Fashion Week, GTAC Tokyo Sydney, ITB Asia and FITUR 2025.

      At the national level, the department strengthened its outreach through participation in ITB India, GTA events in Patna, Lucknow, Mumbai, Chennai and Delhi, and Expo Jaipur.

      Focussing on youth empowerment, the tourism department implemented the CM Tourism Fellowship Programme to provide structured training opportunities to young professionals. Youth Tourism Teams were formed in all districts of the state to assist tourists and promote cultural preservation.

      In collaboration with the Centre, the department is also conducting 17 travel and tourism courses, enabling youth to gain employment as tourist guides, air hostesses, cabin crew members and hospitality professionals. In this sequence, Phase 2 of the Convention and Exhibition Centre in Shahjahanpur, developed at a cost of Rs 46 crore, is nearing completion, it said.

      Under the Youth Travel Mart initiative, youth tourism teams provided assistance to tourists in Ayodhya, Bareilly, Chandauli, Shahjahanpur, Varanasi, Farrukhabad, Prayagraj and Lucknow.

      The department also organised school-level quiz and photography competitions across major cities to promote awareness and heritage conservation. On World Tourism Day, students from 11 schools in Lucknow were taken on guided tours of prominent tourist destinations.

      Under the Swadesh Darshan Scheme 2.0 implemented by the Centre, projects such as Azad Park and Knowledge Hub in Prayagraj and the Buddhist Museum in Shravasti are being developed.

      With support from the Ministry of Finance under the Museum and Heritage Cluster Phase 1, development works are underway at sites in Kanpur associated with freedom struggle of 1857, Nawabganj Temple in Sultanpur and Farrukhabad, and Maa Kamakshi Devi Temple in Chitrakoot. An integrated project worth Rs 2.68 crore in Hardoi is nearing completion.

      The Homestay Scheme promoted by the department has boosted self-employment, while rural tourism initiatives have revived folk music, traditional cuisine and local customs, the statement added. PTI NAV ARB ARB

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