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    Odisha's export can reach USD 50 billion by FY 2029-30: Study
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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.
July 31, 2026
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India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.

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Customs & Trade

Sonalika 30 years Sonalika Tractors: 30 Years of ‘Jeetne Ka Dum - A Legacy Forged in Vision, Courage and Commitment

January 12, 2026

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New Delhi [India], January 12: India is a nation blessed with visionary leaders whose wisdom and foresight have transformed industries and taken Indian excellence to the global platform. Sonalika Tractors is the powerful modern embodiment of this spirit, as the brand celebrates 30 years of trust in partnership with farmers powered by an enduring belief of ‘Jeetne Ka Dum’. Sonalika is celebrating its glorious 30 year journey of an impossible Indian success story - how a returned LIC professional from a small town of Hoshiarpur (Punjab) defied all post retirement traditions with the spirit of ‘Jeetne ka Dum.’ With a visionary belief and lifelong commitment of his two passionate sons, he went on to build a globally respected $1.1 bn tractor empire which is also enlisted among Fortune 500 India’s list of largest 500 companies in the country Sonalika’s remarkable 3 decade journey is an exceptional and inspiring Indian success story - one that started in a small town of Hoshiarpur and rises into a globally renowned USD 1.1 billion tractor business. It has also been recognised among Fortune 500 list of India's largest companies. Today, Sonalika stands as India’s No.1 tractor export brand, 3rd largest tractor manufacturer in India - the world’s largest tractor market and the 5th largest tractor brand globally.

The Visionaries Behind Sonalika’s Legacy Sonalika’s story is a family’s vision led by its founder and Chairman, Shri LD Mittal who rooted in a simple yet powerful belief in Indian soil - Indian farmers deserve ‘Jeetne Ka Dum’ - more power, more reliability, more dignity, and technology designed specifically for Indian conditions. After retiring from LIC, when most choose to slow down, Shri Mittal chose to rise. His strong belief in India's agricultural potential was also echoed in his sons, Dr. A. S. Mittal and Dr. Deepak Mittal. Together, they laid the foundation of Sonalika - rooted beyond the boardrooms, in the realities of farms, workshops and farmers. The journey began with agricultural implements, where Sonalika’s threshers redefined reliability and performance. Farmers responded with trust and soon demanded tractors built with the same uncompromising strength.

‘Jeetne Ka Dum’ with Tractors In 1996, when standardisation was prevalent in the tractor industry, Sonalika made a different selection. Despite the lack of advanced R&D centres, it made a bold commitment that tractors would be tailored to India's diverse crop, soil and regional needs. While others made tractors for markets, Sonalika made them for farmers.

This farmer-first philosophy combined with a disciplined decision to remain debt-free shaped Sonalika’s DNA. The Mittals believed that Indian farmers are not one segment, but a nation of regions, climates, cultures, and aspirations. Such is the strength of Sonalika’s engineering and reliability that the very first tractor built by the company over 30 years ago continues to start effortlessly at the first crank of the engine and continues to remain a living symbol of enduring trust.

Building Strength from Within As demand for heavy-duty and customised tractors grew, vendors initially hesitated to support deep modifications due to low volumes. Under the leadership of Vice Chairman Dr. A.S. Mittal, Sonalika responded by building in-house capabilities from 2011 onwards by manufacturing engines, transmissions, gearboxes, sheet metal, and key aggregates internally.

This vertical integration powered Sonalika to regularise high horsepower tractors and introduce bigger engines, power steering, oil-immersed brakes, and multi-speed transmissions even in entry-level models. The brand today also rolls out region-specific customised tractors such as paddy special Mahabali for southern terrains, Chattrapati for Maharashtra, and Maharaja for Rajasthan, alongside a comprehensive range of 70+ farm implements to increase farm productivity.

The Global Breakthrough In view of the increasing demand, Sonalika increased the initial production capacity of its Hoshiarpur plant from 50,000 tractor units to 1 lakh tractor units annually. Yet the Mittals envisioned something far bigger. In 2017, Sonalika commissioned the world’s largest fully integrated tractor manufacturing plant, capable of rolling out one tractor every two minutes through robotic and automated, multi-flex assembly lines. Today, Sonalika develops over 2,000 models across 20–120 HP, catering to both domestic and global markets. The company has also nurtured a thriving MSME ecosystem around Hoshiarpur, generating large-scale employment and creating a global industrial hub. Equally integral has been Sonalika’s expansive dealer and service network that is built on shared prosperity, capability development, and after-sales excellence, ensuring seamless farmer support from purchase to lifecycle service.

India’s No.1 Tractor Export Brand Under the leadership of Managing Director Dr. Deepak Mittal, Sonalika’s customisation philosophy scaled globally. The company exported its first tractor in 2004, became the first Indian brand to export tractors to Europe in 2011, and steadily expanded across Asia, Africa, Latin America, and beyond. In FY’19, Sonalika emerged as India’s No.1 tractor export brand, a position it has held for seven consecutive years. Sonalika today holds an unassailable 30% market share in exports, i.e. every 3rd tractor that is exported from India is rolled out from Sonalika’s Hoshiarpur facility. It is also the mother plant for feeding with CKD kits to 6 strategic assembly plants the brand owns across different of the world. Sonalika today has a dynamic presence across 150+ countries and holds leadership position in 15+ countries in the addressable segment with its ‘Jeetne ka Dum’ Pioneering Transparency As Sonalika ascended to become India’s No. 1 export brand, it remained anchored in the virtue of values. Guided by the values of Sh. Mittal, Sonalika pioneered with a new era of transparency to the Indian agricultural landscape when it became the 1st company in India to unveil its tractor prices on its website in 2022. The brand even took one step further in transparency in 2025 when it again became the 1st company in India to unveil the tractor service cost on its website, providing farmers a lifelong pact of mutual respect and trust.

Future Forward As Sonalika embarks on its next era inspired by the wisdom, values and core beliefs of its founders, the new generation of leadership remains committed to lead the future. The company is prepared to increase its production capacity to 3 lakh tractors per year, which will make Sonalika one of the select global manufacturers producing on an integrated scale. Beyond products, Sonalika is also committed to transform farmer experience through digital platforms, connected diagnostics, and personalised retail engagement by building a seamless solution ecosystem across every touch point.

With strong succession leadership, institutional integrity, and an unrelenting farmer-first commitment, Sonalika’s next 30 years promise global leadership, technological advancement, and a continued legacy of delivering ‘Jeetne Ka Dum’ to farmers worldwide.

(Disclaimer: The above press release comes to you under an arrangement with PNN and PTI takes no editorial responsibility for the same.). PTI PWR

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