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    India-China trade through Shipli La resumes after six years
    Odisha's export can reach USD 50 billion by FY 2029-30: Study
    Andhra records 21 per cent growth in net GST collections till July
    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
    Gross and Net GST revenue collections for the month of July, 2026
    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
    Gross GST collection kitty swells 15.4 pc to over Rs 2.11 lakh cr in July
    RBI says USD 40.82 bn mobilised under forex swap facility till Jul 31
    Sebi bars ZEEL for 2 months, Subhash Chandra, Punit Goenka for 1 year in Hyderabad land pledge case
    Department of Commerce Holds Workshop on Trade and Sustainable Development Policy Landscape
    GeM Launches 10-Day Celebrations Ahead of 10th Foundation Day, Unveils Commemorative Logo
    All Indian exports of dual-use items comply with international obligations: MEA
    PM Modi to inaugurate Bhogapuram Airport in Andhra on Aug 1
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    Closely monitoring: India on US bill seeking up to 100 % tariffs on purchasers of Russian oil
    Delhi HC seeks ED stand on Nayan Raheja's plea against money laundering case
    Rupee appreciates 7 paise to close at 95.43 against US dollar
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    August 1, 2026
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    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
    August 1, 2026
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    Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
    Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
    August 1, 2026
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    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
    GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
    August 1, 2026
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    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
    Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
    August 1, 2026
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    PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
    PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
    August 1, 2026
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    Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
    Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
    August 1, 2026
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    GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
    GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
    August 1, 2026
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    Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
    Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.
    August 1, 2026
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    GST collection growth in West Bengal continued year-on-year in July but remained below the national growth trend.
    West Bengal's July GST collection increased year-on-year and over the preceding month, marking a second consecutive month of annual growth. Official data also indicated that the State's annual growth rate was below the national trend, while gross domestic GST revenue excluding imports and overall gross GST collections including import-related taxes rose nationally during July.
    August 1, 2026
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    GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
    Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
    August 1, 2026
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    Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
    The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
    August 1, 2026
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    Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
    Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.
    August 1, 2026
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    Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
    Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.
    August 1, 2026
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    Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
    Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
    July 31, 2026
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    Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
    Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
    July 31, 2026
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    Greenfield airport development under a public-private partnership advances licensed international passenger, cargo, logistics, and sustainable infrastructure.
    A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.
    July 31, 2026
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    Regulatory and legal developments cover trade measures, legislative action, offshore exploration support, court directions and platform algorithm scrutiny.
    The compilation reports proposed United States tariff measures concerning purchasers of Russian oil and gas, India-United Kingdom trade engagement, extension of farmer-support measures, and approval of offshore exploration support. It also covers passage of the Registration of Births and Deaths (Amendment) Bill, 2026, a privilege-motion notice, a criminal sentencing, and directions to appoint a nodal officer for families affected by the Russia-Ukraine war. Regulatory items include industrial credit data and examination of social-media algorithms, bias and public-order implications.
    July 31, 2026
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    Russian oil purchases may trigger proposed targeted tariffs, with periodic reassessment based on countries' purchasing behaviour.
    Proposed United States measures would authorise sanctions against Russia and persons supporting its war in Ukraine, while permitting targeted tariffs on imports from countries purchasing substantial volumes of Russian oil or gas or facilitating sanctions evasion. The framework identifies major purchasers and shadow-fleet facilitators for possible additional tariffs and provides for periodic reassessment and tariff adjustments based on purchasing behaviour. India stated that its energy-security policy rests on national priorities and diversified energy sources.
    July 31, 2026
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    Money-laundering proceedings face challenge over absent predicate offence, alleged lack of criminal intent, and treatment of related FIRs.
    Money-laundering proceedings linked to alleged diversion of homebuyer funds are challenged on the ground that no scheduled offence or criminal intent is attributable to the petitioner. The petitioner relies on his asserted exoneration in two predicate FIRs, where charge sheets did not name him, and settlement of the remaining FIR. Notice was issued for a response and status report, and the petitioner undertook to cooperate with the investigation.
    July 31, 2026
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    Rupee appreciation reflected foreign capital inflows and central bank support, tempered by crude prices and geopolitical tensions.
    Rupee appreciation against the US dollar was linked to sustained foreign capital inflows and Reserve Bank support through dollar selling. Higher crude oil prices, a stronger US dollar and geopolitical tensions in West Asia constrained further gains. A slightly positive near-term rupee bias was associated with softer dollar conditions, dovish US monetary expectations, favourable global markets and improved foreign inflows, while geopolitical risks remained relevant. Domestic equity indices rose, foreign-exchange reserves increased, and fiscal-deficit data showed the central government's position against its full-year target.

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      2025: Operation Sindoor established India's new normal in counter-terror response

      December 31, 2025

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      New Delhi, Dec 31 (PTI) Operation Sindoor, the Indian military's most expansive and multi-domain combat mission in half a century to punish Pakistan for its relentless support to cross-border terrorism, redefined India's overarching security and strategic goals in 2025, making it a watershed year for the defence establishment.

      India launched a series of precision missile strikes on nine terror camps in Pakistan and Pakistan-Occupied Kashmir in the early hours of May 7 eliminating at least 100 terrorists in response to the horrific Pahalgam terror attack that killed 26 innocent civilians.

      New Delhi's action was largely seen as a statement of its "political will" to inflict a blow to Pakistan for supporting terrorism with Prime Minister Narendra Modi asserting that India will not tolerate any nuclear blackmail by Islamabad.

      The Indian strikes at the terror camps included the Jaish-e-Mohammed (JeM) headquarters at Bahawalpur, the Lashkar-e-Taiba's base at Muridke, and terrorist infrastructure in Mehmoona Joya in Sialkot, Sawai Nala and Syed Na Bilal in Muzaffarabad, Gulpur and Abbas in Kotli, Barnala in Bhimber, and Sarjal.

      After the strikes at the terror infrastructure, India informed Pakistan that it does not want to escalate the situation and its operation was aimed at terrorist bases.

      But as Pakistan launched a military retaliation, India responded to it very strongly using an array of weapons and military platforms including the Integrated Counter-Unmanned Aerial System (UAS) Grid, S-400 Triumph missile systems, Barak-8 missiles, Akash Surface-to-Air Missiles.

      The Indian military inflicted heavy damages to a number of key Pakistani military installations including hangars in three locations, radars in at least four places, command and control centres in two sites and runways in two air bases.

      The military campaign broadly highlighted the synergy among the three services and showcased the dawn of the new age warfare that featured drones and counter-drone systems.

      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 redefined India's "new normal" to counter cross-border terrorism.

      The daring military campaign strikes by India on Pakistan was the most significant operation since the Bangladesh Liberation War of 1971.

      As part of "dissuasive and deterrent" posture, the Indian Navy's carrier battle group, submarines and aviation assets were immediately deployed at sea with full combat readiness in the aftermath of the Pahalgam terror attack.

      "We have just suspended our retaliatory action against Pakistan's terror and military camps. In the coming days we will measure every step of Pakistan on the criterion that what sort of attitude Pakistan will adopt ahead," Prime Minister Narendra Modi said on May 12.

      Elaborating India's new approach to combat terrorism, the prime minister asserted that it will not tolerate any nuclear blackmail and that New will not differentiate between the government sponsoring terrorism and the masterminds of terrorism.

      "If Pakistan wants to survive, it will have to destroy its terror infrastructure. There is no other way to peace. India's stand is very clear," Modi said.

      Operation Sindoor was seen as significant as it demonstrated India's military and strategic power, executed through a combination of military and non-military means.

      This multi-dimensional operation effectively neutralised terrorist threats, deterred Pakistani aggression, and firmly enforced India's zero-tolerance policy towards terrorism, according to an analysis by the defence ministry.

      Chief of Air Staff, Air Chief Marshal A P Singh on October 3 said at least a dozen Pakistani military aircraft including US-origin F-16 jets were destroyed or damaged in Indian strikes during Operation Sindoor.

      Though Singh declined to list India's losses, Chief of Defence Staff Gen Anil Chauhan on May 31 acknowledged India losing aircraft in the clashes but dismissed as "absolutely incorrect" Islamabad's claim of downing six Indian jets.

      India's non-kinetic efforts following the Pahalgam attack also played a crucial role in shaping the strategic environment . A decisive move was India's decision to suspend the Indus Waters Treaty of 1960 until Pakistan credibly and irrevocably abjures its support for cross-border terrorism.

      This has far-reaching consequences for Pakistan, a country that is heavily dependent on the Indus river system for 80 per cent of its 16 million hectares of agricultural land and 93 per cent of its total water use.

      In the course of 2025, the Indian military guarding the nearly 3,500 km LAC maintained an assertive approach, and bolstered its overall surveillance mechanism to closely track activities by People's Liberation Army (PLA) on the Chinese side of the de-facto frontier.

      The year also saw the Indian Navy expanding its strategic heft in the key maritime domain as it maintained a robust presence in and around the Indian Ocean, a region that has been witnessing increasing Chinese presence.

      In a significant announcement, Navy Chief Admiral Dinesh K Tripathi recently said the third indigenous nuclear powered submarine 'Aridaman' will be commissioned soon as it is in the final stages of trials.

      India's nuclear-powered ballistic missile submarine (SSBN) programme is a closely guarded project. INS Arihant was the first boat under the SSBN project that was followed by another boat, INS Arighat. The SSBN programme is a key element of India's nuclear deterrence capability.

      While India has proven air and land-launched nuclear capabilities, it is now focusing on boosting its underwater nuclear prowess.

      In another important move, India and France in April inked an intergovernmental agreement sealing a mega deal to procure 26 Rafale marine jets at a cost of Rs 64,000 crore (Euro 7 billion) for deployment on board Indian Navy's aircraft carrier INS Vikrant.

      The year also saw the defence ministry expediting the process to procure six stealth submarines under Project 75 India at a cost of around Rs 70,000 crore.

      India's defence ties with a number countries including the US saw an upswing in 2025.

      Two months ago, India and the US signed a 10-year defence framework pact to expand the bilateral strategic ties as the two sides vowed to work closely to ensure a free and open Indo-Pacific.

      The signing of the agreement came amid efforts by the two sides to repair ties that have hit their lowest point in nearly two decades over Washington's slapping of 50 per cent tariffs on Indian goods.

      In the course of the year, India also successfully test-fired a range of strategically important weapons including several versions of the Agni missiles.

      In August, India successfully test-fired the 'Agni-five' intermediate range ballistic missile that has a range of up to 5,000 km. The Agni-5 missile can bring almost the entire Asia including the northernmost part of China as well as some regions in Europe under its striking range. PTI MPB ZMN

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