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    Govt allows free imports of 10 lakh tn raw sugar until Oct 31
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August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.
August 20, 2026
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Responsible AI banking requires human oversight, explainable customer decisions, fair conduct, resilient systems and inclusive credit access.
Responsible AI in banking must promote inclusion, resilience and customer trust while preserving human judgement, governance accountability and clear responsibility. AI and alternative data may widen access to credit where data is obtained with consent, tested for reliability and bias, and used prudently. Banks must maintain capacity to challenge models, oversee providers, test systems under adverse conditions and intervene when automation fails. Material customer decisions must be explainable, clearly communicated and subject to review by an authorised person. Fair conduct, meaningful disclosure, impartial complaint review and transparent communication remain essential throughout the customer relationship.
August 20, 2026
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Multi-Currency EEFC settlements let exporters retain foreign earnings and choose conversion timing for overseas payment obligations.
Multi-Currency EEFC Account settlements enable exporters and international businesses to receive payment settlements directly into Exchange Earners' Foreign Currency accounts in the original transaction currency without immediate conversion into Indian rupees. Retention of foreign currency earnings permits businesses to choose when conversion is required, reducing repeated foreign-exchange conversion cycles and supporting management of foreign-currency cash flows and overseas obligations.
August 20, 2026
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Power semiconductor foundry expansion targets Indian fabless customers through technology showcasing, process development, and collaboration in the growing semiconductor market.
DB HiTek seeks to expand foundry business with Indian fabless semiconductor companies by showcasing power semiconductor and specialised process technologies. Its commercial focus includes BCD processes for automotive and industrial applications, together with silicon-carbide and gallium-nitride process development and planned volume production. Product-performance evaluations are underway with strategic customers. Customer expansion also covers X-ray, global-shutter, single-photon avalanche diode, specialty CIS, and mixed-signal/RF processes, supported by collaboration with local fabless firms.
August 20, 2026
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Money-laundering allegations over payments without services raise concerns about overseas transfers, identity-linked communications, and mineral smuggling.
Money-laundering allegations concern claimed payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions Pvt. Ltd., a company promoted by Veena T., without corresponding services. Searches reportedly yielded handwritten material referring to fund transfers to Dubai and digital material relating to a SIM card obtained in another person's name. Further allegations included overseas fund movement, hawala transfers, and possible thorium or monazite smuggling, all presented as allegations requiring examination.
August 20, 2026
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Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
August 20, 2026
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Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.
August 20, 2026
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Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.
August 19, 2026
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Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.
August 19, 2026
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MSME competitiveness requires affordable credit, technology adoption, formalisation, sustainable trade and stronger export-market access for inclusive growth.
MSME development is identified as central to employment generation, exports, entrepreneurship, economic resilience and self-reliance. Key priorities include affordable credit, technology upgradation, supply-chain integration, market access, brand-building and reduced red tape. Formalisation of micro industries is emphasised to expand institutional credit access, while sustainable trade is promoted through green technologies and renewable energy. Export competitiveness is to be strengthened through regional production capabilities and the "One District, One Export Hub" initiative.
August 19, 2026
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Supply-side inflation risks support a policy pause pending evidence of broad-based, persistent price pressures and de-anchored expectations.
Monetary policy calibration remained on hold because food and fuel inflation had not yet produced broad-based or persistent price pressures. The policy pause was supported by limited pass-through of supply-side shocks, contained core inflation and no clear demand-driven overheating. Recalibration depends on incoming evidence of persistent inflation, entrenched supply-side pressures, de-anchored expectations and the evolving growth-inflation dynamic. Geopolitical disruption, volatile oil prices, monsoon conditions and El Nin o-related agricultural risks remain material inflation risks.
August 19, 2026
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Examination irregularities investigation examines alleged answer-sheet cheating, managed centres and suspected solver-gang involvement by a biometric operator.
Alleged examination irregularities involved suspected cheating through the receipt of an answer sheet by an examinee from personnel of a private firm conducting the examination. Police arrested a biometric operator following an investigation into his alleged involvement. His prior work with biometric firms and manpower supply agencies was examined in connection with clues concerning allegedly managed examination centres and a suspected solver gang.
August 19, 2026
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Trade restrictions on Iran halt commercial and financial exchanges as regional security threats disrupt maritime commerce and re-export access.
UAE trade restrictions on Iran halted all trade, commercial exchanges and financial transactions until further notice following reported ballistic-missile incidents and regional security escalation. The UAE assessed the missiles as directed at maritime traffic, while Iran denied launching them. The suspension disrupts the UAE's role as a major trade and re-export gateway for Iran and may increase Iran's economic isolation. Continuing threats to shipping through the Strait of Hormuz also create economic risk for the UAE's regional business, finance and tourism position.
August 19, 2026
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Inflation persistence and expectations guide continued rate hold amid supply shocks and uncertainty over broader price pressures.
Monetary policy calibration remains contingent on clearer evidence that supply-side price shocks are becoming persistent, broad-based inflationary pressures. The policy rate was maintained unchanged amid uncertainty from higher energy costs, supply-chain disruption, an erratic monsoon and food, fuel and input-price risks. Policy tightening may be required if inflation becomes generalised, expectations become de-anchored, or inflation persists. A wait-and-watch approach was preferred pending clearer realised inflation, forecasts, weather effects and global conditions.
August 19, 2026
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Online credit card applications streamline comparison, eligibility screening and e-KYC, while approval remains subject to issuing-bank criteria.
Online credit card applications through the JioFinance app combine card comparison, eligibility checks, electronic verification, application submission and status tracking. Eligibility screening may occur without affecting the applicant's credit score, but approval remains subject to the issuing bank's criteria and internal policies. Aadhaar-based e-KYC or other accepted electronic verification may be used where applicable. Applicants should provide accurate Aadhaar, PAN and mobile details. Eligible approved applicants may receive a virtual card before physical-card delivery, subject to applicable terms and conditions.
August 19, 2026
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Comprehensive strategic partnership drives ministerial and business engagements on investment, market access, technology collaboration, skills and agri-food trade.
India-Singapore economic engagement is being advanced through ministerial and business roundtables under the Comprehensive Strategic Partnership. A multidisciplinary business delegation is undertaking business-to-business, government-to-business and institutional engagements focused on partnerships, investment, market access, technology collaboration and talent development. Agricultural trade cooperation includes promotion of Indian agri-food exports through a retail initiative. The engagement seeks to strengthen trade, investment, digitalisation, advanced manufacturing, skills development, green-economy cooperation and people-to-people ties.
August 19, 2026
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International senior notes issuance diversifies the bank's funding sources and expands access to global debt capital markets.
IDFC FIRST Bank accessed international debt capital markets through its IFSC Banking Unit at GIFT City by issuing inaugural fixed-rate senior notes with a three-year tenor, due in 2029. The notes were offered to investors outside the United States under the Regulation S format. The issuance followed an investment-grade long-term issuer credit rating with a stable outlook, diversifies the bank's funding sources, and creates an avenue for access to global capital markets in support of long-term growth.

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Customs & Trade

India's diplomacy faced giant test in 2025

December 31, 2025

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New Delhi, Dec 31 (PTI) For India's diplomacy, 2025 was a giant test in many ways as it had to navigate the geopolitical implications of the worst military conflict in decades with Pakistan, US President Donald Trump's punitive tariffs and increasingly troubled relations with Bangladesh.

As the horrific terror attack in Jammu and Kashmir's Pahalgam in April killing 26 innocent people triggered global outrage, India displayed a steely resolve in combating cross-border terrorism from Pakistan, telling leading global capitals it has a right to respond.

Following the terror strike, India announced a series of punitive measures against Pakistan including suspension of the 65-year-old Indus Water Treaty with Prime Minister Narendra Modi asserting that "water and blood cannot flow together".

Exactly two weeks after the terror attack, India launched 'Operation Sindoor' carrying out airstrikes on nine terror camps in Pakistan and Pakistan-Occupied Kashmir in the early hours of May 7 eliminating at least 100 terrorists.

The strikes triggered a rapid escalation in tensions with Pakistan launching retaliatory strikes though most of them were thwarted by the Indian military.

With rapid escalation in the situation sparked fears of a full-scale war between the two nuclear-armed countries, several world capitals called for restraint and reached out to both New Delhi and Islamabad to stop the fighting.

The hostilities ended with an understanding on halting the military actions on May 10 following talks over the hotline between army officials of the two sides, but the episode brought new headache for India's foreign policy mandarins with Trump announcing the ceasefire first in a social media post.

Over the next few months, the US president repeatedly and publicly claimed that had resolved the military conflict between India and Pakistan and saved millions of lives as it was going in the direction of a full-scale war.

New Delhi stoutly maintained that the cessation of the hostilities was the result of talks between India and Pakistan and the US involvement had nothing to do with it. This riled the Trump administration.

Amid simmering strain in the India-US ties, Trump, in an unprecedented move, hosted a closed-door lunch for Pakistan army chief Field Marshal Asim Munir at the White House on June 18. The Trump-Munir meeting marked a major boost in US-Pakistan ties.

Trump had a second meeting with Munir in the White House on October 1.

As talks for a bilateral trade agreement were dragging on, Trump in August slapped a crushing 50 per cent tariff on Indian goods including an additional 25 percent levies for buying Russian crude oil.

The tariffs added more frost in ties with the relations between the two partners now possibly going through its worst phase in the ties in the last two decades.

Washington's new immigration policy and its decision to increase H1B visa fee to a whopping USD 1,00,000 also appeared to contribute to the slide in India-US ties.

The sharp downturn in the relations surprised many foreign policy experts as Trump's first tenure as the president saw bonhomie between the two leaders.

Another striking development was Pakistan inking a strategic defence pact with Saudi Arabia that came months after India's Operation Sindoor against India.

The pact mentions that "any aggression against either of the two countries shall be considered as an aggression against both".

India's relations with Bangladesh also came under severe strain, largely due to increasing activities of extremist elements which targeted minorities including Hindus.

Bangladesh's increasing engagement with Pakistan and China also contributed to the downturn in the relations. The slide in the relations began after deposed prime minister Sheikh Hasina fled India in August 2024 in the face of a massive anti-government protest that ended her nearly 16-year rule.

However, India's relations with China witnessed significant improvement in 2025 with both sides initiating a series of measures to rebuild the ties that saw major downturn during the over four-year eastern Ladakh border row.

These measures included resumption of Kailash Manasarovar Yatra, direct flights and easing of visa regimes.

In August, Modi and Chinese President Xi Jinping agreed to deepen bilateral ties to combat pressing challenges and work towards a "fair" solution to the festering border issue.

In a meeting in the Chinese city of Tianjin on the margins of the Shanghai Cooperation Summit, Modi and Xi also vowed to expand trade and investment ties to stabilise global commerce.

Days ahead of Modi's trip to China, Chinese Foreign Minister Wang Yi visited New Delhi India that saw both sides unveiling a series of measures for a "stable, cooperative and forward-looking" relationship that included jointly maintaining peace along the frontier, reopening border trade and promoting investment flows.

India's relations with Russia also witnessed a major upswing including in the energy sector notwithstanding mounting Western pressure. In the fag end of the year, Russian President Vladimir Putin visited India during which both sides firmed up a five-year plan to bolster trade partnership in the face of Washington's punitive tariff and sanctions regime.

In July, India and the UK sealed a historic free trade agreement to inject new energy in economic ties as it will provide for slashing tariffs, increase access to each other's markets, enhance trade, and create jobs.

The year also saw India and Canada making efforts to rebuild ties that saw a spell of distrust and suspicion following a diplomatic row two years ago.

The India-Canada relations hit rock bottom after then Prime Minister Justin Trudeau's allegations in 2023 of a potential Indian link to the killing of Hardeep Singh Nijjar. India had dismissed Trudeau's accusation as "absurd".

In the overall foreign policy domain, concerns relating to Indo-Pacific and the way forward found greater salience in New Delhi's diplomatic engagements.

In the year, New Delhi's diplomacy also focused on boosting the country's energy security as it made renewed efforts to expand cooperation with the Gulf region. PTI MPB ZMN

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