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    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 ...
    Trump says US will investigate EU trade practices, claiming bloc unfairly fined tech giants
    World shares are mixed and oil prices fall, markets in Asia skid in sell-off of AI-related shares
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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
    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
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    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%
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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
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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.

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PMLA / Black Money

Cases of Red Fort blast, National Herald and IRCTC 'scam' kept Delhi courts busy in 2025

December 31, 2025

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New Delhi, Dec 31 (PTI) Cases involving political bigwigs including Sonia Gandhi, Rahul Gandhi, Lalu Prasad Yadav and others kept busy the Delhi courts which also dealt with terror-related matters like the 26/11 Mumbai attack and the Red Fort blast in 2025.

Matters related to attack on Delhi Chief Minister Rekha Gupta, AgustaWestland case, conviction of former Congress MP Sajjan Kumar in a 1984 anti-Sikh riots case and trial proceedings of self-styled godman Chaitanyananda Saraswati in an alleged molestation case also hogged the limelight.

The Enforcement Directorate was left red-faced when a Delhi court refused to take cognisance of the alleged money laundering charge against Congress leaders Sonia and Rahul Gandhi and others in the National Herald case.

The ED "simply inverted the template" of the Prevention of Money Laundering Act by registering an FIR in 2021, the court had said.

In the alleged IRCTC scam case, charges were framed against former Bihar chief ministers Lalu Prasad Yadav and Rabri Devi, their son Tejashwi Prasad Yadav and 11 others for the offences of cheating, criminal conspiracy, and under the provisions of the Prevention of Corruption Act.

The court made a scathing observation that the land and share transactions in the case were "possibly an instance of crony capitalism fostered in the garb of eliciting private participation in the Railways hotels at Ranchi and Puri".

Another case which grabbed the headlines was the 26/11 Mumbai attack case in which Tahawwur Rana, a close associate of 26/11 Mumbai terror attacks main conspirator David Coleman Headley alias Daood Gilani, was brought to India after the US Supreme Court on April 4 dismissed his review plea against his extradition.

In a chilling incident that sent shockwaves across the country, an explosive-laden car driven by a suicide bomber, Umar-un-Nabi, detonated outside the Red Fort on November 10 killing 15 people.

The National Investigation Agency subsequently arrested nine people and sought their custodial interrogation from the courts concerned for playing an active role in the conspiracy behind the blast.

In the case of attack on Rekha Gupta at a public event, a court set the stage for trial by framing charges, including for the alleged offence of attempt to murder, against Sakriya Rajeshbhai Khimjibhai and his friend Tahsin Raza Rafiullah Shaikh.

Gupta was attacked during a 'Jan Sunwai' programme at her camp office in the Civil Lines area on August 20.

A court here awarded life imprisonment to former Congress MP Sajjan Kumar in a murder case connected to the 1984 anti-Sikh riots, saying his old age and illness weighed in favour of a lesser sentence instead of the death penalty.

The court pronounced the verdict in a case of killings of Jaswant Singh and his son Tarundeep Singh on November 1, 1984.

In the AgustaWestland VVIP chopper scam, a court ordered the release of purported middleman Christian James Michel from custody in a money laundering case filed by the ED. Later, the court also modified Michel's bail conditions in a CBI case related to the scam.

Self-styled godman Saraswati, who was accused of molesting 17 women students at a private management institute here, was initially remanded in five-day police custody and then sent to jail under judicial custody.

In the 2020 Delhi riots larger conspiracy case, the arguments on framing of charges against student activist Umar Khalid were completed on November 3. Khalid's counsel claimed in the court that evidence was fabricated to implicate him, and he was jailed for five years in this "joke of an FIR".

A court junked an order directing Delhi Police to "further investigate" the role of Delhi Law Minister Kapil Mishra in the 2020 Delhi riots, saying the order suffered from a "serious jurisdictional error".

Shortly after the controversial protest over air pollution at Kartavya Path and Parliament Street on November 23, Delhi Police apprehended 23 protesters for allegedly using pepper spray on police during the demonstration at India Gate and for raising slogans hailing slain Maoist leader Madvi Hidma.

A majority of these protesters are currently out on bail.

In the alleged land-for-job scam, the CBI submitted its final verification report on the status of the accused named in its charge sheet. The CBI, in its verification report, said out of 103 accused named in its charge sheet, five have died.

Meanwhile, a court acquitted three people in a 2009 acid attack case and rapped the police for conducting a "nonchalant and unprofessional" investigation that appeared to be to shield the culprits.

The apex court had termed the prolonged delay in the victim's case a "national shame" and directed the trial to be held on a day-to-day basis.

In the Goa nightclub fire case, a court allowed Goa Police a two-day transit remand of Gaurav Luthra and Saurabh Luthra, co-owners of the Birch by Romeo Lane nightclub, where 25 people were killed in a fire on December 6.

In November, a court allowed jailed Lok Sabha member Engineer Rashid to attend the winter session of Parliament in custody on all dates. He was also granted custody parole between July 24 and August 4 to attend the monsoon session of Parliament.

A court set aside an order asking four journalists to take down alleged defamatory content against Adani Enterprises Limited (AEL), saying the effect of removal of the articles by an ad-interim ex-parte order was "sweeping" and it had the "effect of decreeing the suit itself without a trial".

Earlier this year, a court dismissed BJP MP Yogender Chandolia's plea against a magistrate's order framing charges against him for various alleged offences, including assaulting or using criminal force against a public servant, in a five-year-old case.

In the Kanjhawala hit-and-run case, a Delhi motor accident claims tribunal awarded a compensation of over Rs 36.69 lakh to the family of 20-year-old Anjali Singh, who was killed in an incident in January 2023.

In the Chinese visa scam case, a court ordered the framing of charges for alleged criminal conspiracy and corruption against Congress MP Karti P Chidambaram and six others, saying there was a prima facie case against them.

A court also dismissed a plea which sought a probe against Sonia Gandhi alleging that she was included in the electoral rolls three years before acquiring Indian citizenship in 1983.

A revision plea against the order of dismissal was filed in a sessions court, which has issued notice to the Congress leader and others.

A court discharged 10 TMC leaders in a case linked to a protest outside the Election Commission of India despite prohibitory orders, saying a mere protest for voicing dissent was the hallmark of democracy.

In a case related to the allocation of Mahuagarhi coal block in Jharkhand, a court acquitted former coal secretary H C Gupta, ex-joint secretary (coal) K S Kropha and then director K C Samaria.

Former Minister of State (Coal) Santosh Kumar Bagrodia, former Rajya Sabha member Vijay Darda and others were also acquitted in a 2017 case of allegedly influencing the probe in a coal scam case.

In an alleged sexual harassment case against ex-WFI chief Brij Bhushan Sharan Singh, a court accepted a closure report of Delhi Police seeking to cancel a case filed by a wrestler accusing Singh of sexual harassment when she was a minor.

In May, a court sentenced former Madhya Pradesh MLA Kishore Samrite to six months in jail for threatening to blow up Parliament in September 2022 over his 'unfulfilled demands'.

Bringing down curtains on a 13-year-old case, a court accepted the ED's closure report in a money laundering case against Suresh Kalmadi, the former head of the organising committee of 2010 Commonwealth Games and then secretary general Lalit Bhanot and others. PTI SKM MDB MNR ABA SJK ZMN

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