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    Rupee rises 12 paise to close at 96.30 against US dollar
    MP industrial corporation, Amazon ink pact to accelerate e-commerce exports
    Following are the top foreign stories at 2015 hours
    Pending civil suits, arbitral claims stand abated after resolution plan approved under IBC: SC
    India'€™s forex kitty jumps USD 964 mn to USD 675.15 bn
    Rupee rises 14 paise to close at 96.28 against US dollar
    Office of Economic Adviser to Release Revised Index of Core Industries Series with Base Year 2022–23
    Fourth Edition of IICA’s National Conference on Responsible Business Conduct (NCRBC) 2026 held in New Delhi
    Reliance promoters raise stake by 0.5 pc through Rs 8,500-9,000 cr worth of share purchases
    US Senate bill seeks 100% tariffs on India, 4 other nations for buying Russian oil
    NRIs can bring USD 70-80 bn into India through FCNR deposits: expert
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    Union Minister of Commerce and Industry, Shri Piyush Goyal Leads High-Level Delegation to Finland to Strengthen Trade and Investment Ties
    India Achieves Major Milestone at Codex Commission with Adoption of Three Global Standards for Spices
    Centre for Trade and Investment Law launches guidebook to help Indian MSMEs expand into global markets
    Brazil calls Trump's 25 pc tariff unjustifiable, vows to impose reciprocal tariffs
    Trump administration races clock to rebuild US tariff wall knocked down by SC
    JK marks maiden export of premium cherries, plums to Singapore
    Chhattisgarh govt departments owe Rs 3,117 crore in power bills, assembly told
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    July 17, 2026
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    Foreign exchange market movement strengthens the rupee as equity gains and possible central-bank support offset oil-price pressure.
    Foreign exchange market movement saw the rupee appreciate against the US dollar, supported by positive domestic equity-market performance, lower US Treasury yields and reported possible central-bank intervention. Elevated West Asia tensions, higher global crude-oil prices and cautious foreign investment flows continued to pressure the currency. Market attention remained focused on global developments, crude-oil movements and foreign institutional investment activity, alongside an increase in foreign-exchange reserves.
    July 17, 2026
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    E-commerce export promotion supports Madhya Pradesh businesses through global marketplace access, exporter readiness, and a cross-border export roadmap.
    A memorandum of understanding supports Madhya Pradesh businesses, including MSMEs, entrepreneurs, direct-to-consumer brands, manufacturers, weavers, artisans and producers, in accessing international customers through the Amazon Global Selling programme. The collaboration will improve e-commerce export awareness, exporter readiness and knowledge sharing, while developing a state export roadmap with policy and infrastructure recommendations. It will also identify interventions relating to logistics, access to finance, payment reconciliation and regulatory enablers for cross-border exports.
    July 17, 2026
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    Russian oil purchase tariffs and tighter visa oversight reshape trade exposure and immigration compliance for foreign nationals.
    Proposed trade tariffs on purchases of Russian oil would target specified countries, including India and China, while exempting European purchasers of Russian gas. Separately, tighter United States visa regulations for international students, exchange visitors and journalists would end a long-standing arrangement allowing indefinite residence without government oversight. The reported changes may materially affect foreign nationals, including Indian nationals, through differentiated trade treatment and enhanced immigration compliance requirements.
    July 17, 2026
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    Clean slate doctrine extinguishes uncrystallised operational claims and pending proceedings once an approved insolvency resolution plan becomes binding.
    The clean slate doctrine under the Insolvency and Bankruptcy Code is described as abating or extinguishing pending civil suits and arbitration involving pre-insolvency operational claims that had not crystallised into determinable and quantifiable amounts before resolution-plan approval. Claims must be submitted to and determined by the resolution professional, and only crystallised claims incorporated in the approved plan remain payable under its prescribed treatment. Once final, the creditor list and approved plan bind all stakeholders.
    July 17, 2026
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    Foreign exchange reserves rose as foreign currency assets, gold, Special Drawing Rights and IMF reserve position increased.
    Foreign exchange reserves increased during the reporting week, principally because foreign currency assets rose. Reserve components include foreign currency assets, gold reserves, Special Drawing Rights and the reserve position with the International Monetary Fund. Foreign currency assets, expressed in dollar terms, reflect valuation effects arising from movements in non-US currencies held in the reserves. Gold reserves, Special Drawing Rights and the reserve position with the International Monetary Fund also increased.
    July 17, 2026
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    Rupee exchange-rate movement stabilised after possible central bank intervention, while oil prices and foreign fund flows sustained pressure.
    The rupee strengthened against the US dollar following four declining sessions, reportedly amid possible Reserve Bank of India intervention. Elevated West Asia tensions, higher crude-oil prices and cautious foreign fund flows continued to weigh on the currency, despite consolidation in the absence of major domestic triggers. Market participants were expected to monitor global developments, crude-oil movements and foreign institutional investor activity for the next directional move.
    July 17, 2026
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    Revised Index of Core Industries adopts a new base year, adds Iron Ore, and aligns production measurement methodology.
    The revised Index of Core Industries adopts 2022-23 as its base year and replaces the 2011-12 series. Its weights are derived from the 2022-23 Index of Industrial Production and redistributed pro rata to total 100. Iron Ore is added as a core industry, expanding the basket to nine industries. The Steel Index will use gross production data for consistency with the Index of Industrial Production. In the Coal sector, only Raw Coal is retained; Coal Middlings and Washed Coal are excluded to prevent double counting.
    July 17, 2026
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    Sustainability reporting discipline requires credible disclosures, board-level integration, data assurance and proportionate ESG implementation across business value chains.
    ESG-led responsible business conduct requires sustainability disclosures that are relevant, comparable, evidence-based and verifiable, supported by reliable systems, internal controls, documentation, traceability and independent examination. Sustainability should be integrated into board-level decision-making, fiduciary responsibilities, risk management and long-term enterprise value. Stronger governance, accountability and data-assurance frameworks are needed to address greenwashing, with proportionate reporting, technology and capacity-building supporting implementation across value chains and MSMEs.
    July 17, 2026
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    Promoter shareholding increase through market purchases remains within creeping acquisition limits and signals confidence in long-term growth prospects.
    Promoter and promoter-group shareholding in Reliance Industries Ltd increased by nearly 0.5 percentage points through market purchases during the June quarter. The purchases were reported to be within SEBI creeping acquisition limits, allowing gradual promoter acquisitions without triggering a mandatory open offer where prescribed thresholds are met. The increase may strengthen promoter control and marginally reduce public float, and was characterised as reflecting confidence in long-term growth, earnings trajectory and capital-allocation plans.
    July 17, 2026
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    Tariffs on Russian oil purchasers would target sanctions evasion, with reassessment mechanisms and limited energy-sector exemptions proposed.
    Proposed United States Senate legislation would impose mandatory tariffs on imports from leading purchasers of Russian oil or gas and leading facilitators of Russian oil-sanctions evasion. It provides for periodic reassessment and tariff adjustments, while exempting qualifying countries reducing Russian gas imports. Russian uranium purchases for specified nuclear and medical needs, and certain nuclear and space cooperation activities, would be excluded.
    July 17, 2026
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    Foreign currency non-resident deposits enable overseas Indians to invest foreign earnings while supporting India's foreign-exchange reserves.
    Foreign Currency Non-Resident deposits allow Non-Resident Indians and Persons of Indian Origin to maintain overseas earnings as foreign-currency fixed deposits with Indian banks without conversion into Indian rupees. Banks may offer enhanced interest rates for a limited period under an initiative intended to strengthen foreign-exchange reserves and support the rupee. The framework covers the investment process, regulatory requirements, taxation aspects and advantages for eligible overseas investors.
    July 17, 2026
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    GST compliance management integrates reconciliation, input tax credit support, invoicing and statutory monitoring within an AI-powered enterprise platform.
    The unified cloud platform combines accounting, manufacturing, inventory, procurement, human resources, payroll, compliance, reporting and document management with an embedded AI agent. Its compliance functions include GST validation, purchase-register reconciliation with GSTR-2B, input tax credit support, supplier filing-gap detection, e-invoicing, e-way bills, TDS and statutory due-date tracking. Financial and operational workflows are intended to use common real-time data, with automation for invoices, journal entries, reconciliations, reporting, workflow approvals and compliance-risk monitoring.
    July 17, 2026
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    Institutional trade cooperation expands through industry MoUs, supporting investment, innovation and technology partnerships across strategic economic sectors.
    Bilateral trade and investment cooperation was advanced through ministerial discussions and industry engagements concerning financial markets, innovation, enterprise financing and commercial relations. Two institutional Memoranda of Understanding established mechanisms for industry collaboration and greater business engagement. Sector-specific interactions covered digital and frontier technologies, space, clean energy, bioeconomy, circular economy, infrastructure and advanced manufacturing, focusing on collaboration, investment and technology partnerships.
    July 17, 2026
    Show AI Summary
    Codex spice standards harmonise quality benchmarks for cardamom, coriander and vanilla, supporting trade consistency, market access and export competitiveness.
    Codex standards for large cardamom, coriander and vanilla establish harmonised international quality benchmarks following review by relevant committees on analytical methods, food additives and food labelling. The standards are intended to promote consistent quality requirements, facilitate trade, improve market access and support export competitiveness. India was also accepted as Co-Chair of an Electronic Working Group developing policy guidance on risk analysis for new food products.
    July 17, 2026
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    Export readiness for MSMEs strengthens global market access through trade intelligence, standards compliance, preferential origin rules and trade remedy awareness.
    Export readiness for Indian MSMEs is supported through practical guidance on identifying export opportunities, market-access requirements, trade intelligence tools, international standards, sustainability requirements and buyer identification. International expansion strategies include using preferential Rules of Origin and cooperation mechanisms under Free Trade Agreements, selecting export destinations, product positioning, diversification and value addition. Trade remedy awareness and guidance on unfair trade practices and import surges, together with institutional support, partnerships and trade-exhibition participation, can strengthen global competitiveness and integration into global value chains.
    July 16, 2026
    Show AI Summary
    Reciprocal tariff measures and multilateral dispute settlement are pursued in response to contested import duties.
    Reciprocal tariff measures are proposed in response to a new tariff on specified Brazilian imports allegedly involving unfair trade practices. Brazil rejects those allegations and proposes to use its reciprocity-law mechanisms, including reciprocal tariffs and other trade-related countermeasures, while pursuing multilateral dispute settlement. It maintains that trade investigations must conform to multilateral international-trade rules and notes that the tariff may burden exports and increase commercial uncertainty.
    July 16, 2026
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    Section 301 tariff authority offers a procedurally constrained route to replace temporary global import tariffs after emergency powers failed.
    Import-tariff authority is shifting from emergency-based measures to temporary and investigatory powers under the Trade Act of 1974. Section 122 supports a global tariff measure only for a limited period, whereas Section 301 permits tariffs or trade sanctions for unjustifiable, unreasonable, or discriminatory foreign trade practices after required public-comment and hearing procedures. Current Section 301 investigations concern forced-labour imports and alleged overproduction by trading partners. A more rule-bound tariff framework may reduce, but not eliminate, commercial uncertainty, and broad use of Section 301 for near-universal tariffs may face legal challenge.
    July 16, 2026
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    International food-safety and phytosanitary compliance supports premium cherry and plum exports from Jammu and Kashmir to Singapore.
    Export of premium cherries and plums from Jammu and Kashmir to Singapore was facilitated to expand overseas market access for temperate fruits. The produce underwent scientific cultivation, optimum-maturity harvesting, grading, sorting, packing and cold-chain handling in compliance with international food-safety and phytosanitary standards. The initiative highlights quality enhancement, market development, logistics, export-oriented production and improved post-harvest management for horticultural exports.
    July 16, 2026
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    Electricity bill recovery and prepaid departmental billing are presented alongside independent tariff regulation and rooftop solar promotion.
    Electricity-payment arrears were reported against government departments and non-government consumers. Tariffs are determined independently by the State Electricity Regulatory Commission on factors including power-purchase costs, regulatory assets, the distribution company's financial position and public hearings. Recovery from non-government consumers is undertaken under the Electricity Supply Code, while a pre-paid billing system is being implemented for government departments to improve payment compliance. Rooftop solar installations are also being promoted to reduce household electricity bills.
    July 16, 2026
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    Rupee depreciation pressures intensify as elevated crude prices, foreign capital outflows and geopolitical tensions weigh on exchange markets.
    The rupee weakened for a fourth consecutive session amid elevated crude oil prices, a stronger dollar index and foreign capital outflows, with rising oil import costs adding to balance-of-payments pressures. Reserve Bank of India data showed an overall balance-of-payments deficit during the first two months of the fiscal year, although the current account recorded a surplus for April-May 2026. Geopolitical tensions and Strait of Hormuz risks were cited as supporting high crude prices, while possible Reserve Bank intervention could support the rupee.

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      Andhra Cabinet calls 2025 breakthrough year; hails Rs 13 lakh crore investments, welfare push

      December 29, 2025

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      Amaravati, Dec 29 (PTI) The Andhra Pradesh Cabinet on Monday described 2025 as a breakthrough year for the state, marked by large-scale investments, substantial employment generation and expanded welfare spending.

      Addressing a press conference after the Cabinet meeting, Revenue Minister Anagani Satya Prasad said the state government had decided to increase the number of districts from 26 to 28 following wide public consultation, aiming to improve administrative efficiency and governance.

      "Investments worth over Rs 13 lakh crore, with employment potential exceeding 16 lakh jobs, along with welfare spending crossing Rs 50,000 crore, have defined 2025 as a landmark year for Andhra Pradesh," he said.

      Prasad added that the Cabinet reviewed the NDA coalition government’s performance during the year, noting progress in welfare delivery, economic growth, infrastructure expansion and governance reforms.

      Direct benefit transfers reached 46 lakh farmers and over 67 lakh students, reinforcing inclusive growth and financial security, he said.

      Revenue conferences were held statewide to implement district expansion, streamline issuance of Pattadar Passbooks (land documents) and strengthen local administration, he added.

      The reorganisation will enhance planning, improve development delivery, and strengthen coordination among village, mandal and district-level authorities, the minister said.

      He added that Rs 6,310 crore was credited to farmers under the 'Annadata Sukhibhava' scheme, while Rs 10,090 crore was disbursed to students through the 'Thalliki Vandanam' programme under the Super Six welfare initiatives.

      He said the 'Stree Sakthi' free bus travel scheme for women logged over 3.25 crore journeys at Rs 1,144 crore, while free travel for persons with disabilities and the annual distribution of three free LPG cylinders to nearly two crore women strengthened social security.

      Under 'NTR Bharosa' pensions, cumulative disbursements crossed Rs 50,000 crore, with Rs 33,000 crore paid annually, while 'Fishermen Bharosa' provided Rs 20,000 each to 1.25 lakh fishermen with an outlay of Rs 250 crore.

      The government extended livelihood support to auto drivers, crediting Rs 436 crore to 2.90 lakh beneficiaries, while weavers received handloom and power loom units, and 204 Anna Canteens served over four crore subsidised meals.

      Social justice measures included Rs 3,670 crore for minority welfare and honorariums for 8,427 pastors, imams, muezzins, priests, Nayee Brahmins and junior lawyers, underscoring the government’s focus on inclusive development.

      Employment generation received a boost with the recruitment of 15,941 teachers under the Mega DSC, 5,757 police constables, and the introduction of gratuity for Anganwadi and ASHA workers.

      Infrastructure initiatives included the removal of 84 lakh tonnes of garbage, allocation of Rs 1,000 crore for road repairs, Rs 3,000 crore for new road construction, and the expansion of irrigation projects, including Handri Neeva canal works and groundwater recharge, benefiting the Rayalaseema region and the Polavaram project.

      Visakhapatnam, Amaravati, and Tirupati were identified as key regions under the three-region development strategy, with major IT and quantum computing investments planned. These include Google–Reliance data centres, TCS and Cognizant operations, and the Amaravati Quantum Valley.

      "During 2025, Andhra Pradesh attracted strong investor confidence, with 610 agreements signed at the CII Partnership Summit held in Vizag, proposing investments of over Rs 13 lakh crore and promising to create more than 16 lakh jobs," the minister said.

      Thirteen State Investment Promotion Board meetings approved investments totalling Rs 8.55 lakh crore, while MSME parks in 175 constituencies and 23 industry-friendly policies further strengthened entrepreneurship and regional economic growth.

      The revival of Panchayati Raj saw over 13,000 Gram Sabhas held in a single day, nearly 3,000 development works initiated, 4,000 km of village roads constructed under Palle Panduga, 4G digital connectivity extended to remote villages, and the release of 15th Finance Commission funds.

      The 'Amarajeevi Jaladhara' programme aimed to provide tap water connections to every household at a cost of over Rs 3,000 crore, benefiting more than 1.2 crore people.

      Civil Supplies Minister N Manohar said the state also achieved record paddy procurement, crediting Rs 8,120 crore to 5.48 lakh farmers within 24 hours, along with market support exceeding Rs 1,100 crore for crops such as tobacco, mango, cocoa, and onion.

      Similarly, Health Minister Satya Kumar Yadav stated that health initiatives included digital healthcare, universal health coverage in collaboration with the Gates Foundation and Tata Sanjeevani, and health check-ups for 75 lakh students.

      Education reforms introduced mega parent–teacher meetings, Sarvepalli Radhakrishnan kits, and transparency in teacher transfers, he added.

      Power sector reforms targeted a reduction in power purchase costs, investments of Rs 3 lakh crore in clean energy plants, free solar rooftop units for 20 lakh SC/ST families, and an additional Rs 20,000 assistance for BC households.

      The government also strengthened law enforcement through the Eagle Task Force to tackle ganja and drug-related crimes, and implemented data-driven governance, WhatsApp Governance, and disaster management initiatives to enhance speed and efficiency, the minister said.

      The Cabinet expressed satisfaction that the outcomes of 2025 have laid a strong foundation for inclusive growth, social justice, and long-term development in the state, the ministers added. PTI MS GDK SSK

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