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    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
    PM Modi speaks to UK counterpart Burnham
    Bank credit to industry records robust growth of 19.2 pc in June: RBI data
    Delhi protesters' fingerprints collected from stones for identification via Aadhaar: BJP minister
    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
    Jharkhand signs pact with CSC eStore to make SHG products made by women available online
    APEDA Facilitates First-Ever Air Shipment of Karnataka's Neelam and Totapuri Mangoes to the Maldives
    Favara-UPI Cross-Border Payment Corridor Goes Live Between Maldives and India
    SC upholds NCLAT order setting aside CCI's Rs 301.6-cr penalty on Grasim Industries
    China's factory activity unexpectedly slips into contraction in July
    PM Modi to inaugurate Bhogapuram Airport on Aug 1 in Andhra Pradesh
    Rupee rises 20 paise to 95.30 against US dollar in early trade
    APEDA Facilitates First-Ever Sea Shipment of Value-Added Flavoured Makhana from Bihar to Canada
    Indian envoy meets Chinese commerce ministry official; Calls for enhanced market access
    ED attaches Rs 94 crore in foreign bank account in fraud case against Delhi-based rice firm
    Ensure uniform deposit rates across all branches: RBI tells banks
    PM takes stock of geo-political situation, safety of seafarers, supply chain constraints
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    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.
    July 31, 2026
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    Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
    Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.
    July 31, 2026
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    One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
    The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
    July 31, 2026
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    Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
    The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
    July 31, 2026
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    Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
    Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
    July 31, 2026
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    Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
    Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
    July 31, 2026
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    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    July 31, 2026
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    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
    July 31, 2026
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    Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
    Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
    July 31, 2026
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    Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
    Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
    July 31, 2026
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    Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
    Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.
    July 31, 2026
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    Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
    Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.
    July 31, 2026
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    Manufacturing contraction highlights weak domestic demand, property-sector pressure and continued reliance on technology-related exports for economic growth.
    Manufacturing activity in China contracted in July, as the official purchasing managers' index fell below the expansion threshold and new orders and production declined. Weak domestic demand, lower building activity and possible typhoon-related disruptions contributed to the slowdown. Consumer spending, investment and property-sector weakness continue to affect confidence, while technology-related exports support growth. Policy commitments include strengthening domestic consumption amid continued reliance on exports.
    July 31, 2026
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    Public-private partnership airport development strengthens aviation, cargo logistics, export infrastructure and sustainable connectivity through an integrated international airport project.
    The Bhogapuram airport project is being implemented under a Public-Private Partnership through the Design, Build, Finance, Operate and Transfer framework. It has obtained required aerodrome, safety, fire and environmental clearances and includes infrastructure for domestic and international aviation, passenger processing and airport security. Cargo and cold-chain facilities are intended to support exports and logistics integration, while recycled-water use and LEED Platinum standards form part of the project's sustainability features.
    July 31, 2026
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    Rupee appreciation against the US dollar continued as foreign inflows and lower crude prices supported domestic currency markets.
    Rupee appreciation against the US dollar continued in early trading, supported by foreign capital inflows and lower global crude oil prices. A stronger US dollar constrained further appreciation, while expectations of continued Reserve Bank of India intervention were cited as supporting the rupee. Declining Brent crude prices, gains in domestic equity indices and net foreign institutional investment in equities were also identified as relevant market factors.
    July 31, 2026
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    Value-added Makhana exports expand international market access, support quality compliance, and improve farmer returns through processing and branding.
    Agricultural export facilitation supported the first sea shipment of value-added flavoured Makhana from Bihar to Canada. Processed and packaged to international quality and food-safety standards, the export demonstrates the role of processing, value addition and export-oriented manufacturing in expanding overseas market access. The initiative is stated to improve farmer returns through value addition, while capacity building, export infrastructure, quality compliance, market linkages and stakeholder collaboration support the agri-export ecosystem.
    July 30, 2026
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    Market access for Indian pharmaceuticals remains central to bilateral efforts to promote sustainable trade and economic cooperation.
    Enhanced market access for Indian products, particularly pharmaceuticals, was raised in discussions aimed at strengthening bilateral trade and economic ties. The discussions addressed sustainable trade, and the sides agreed to increase mutual cooperation and communication. India continues to seek greater access to China's information technology, pharmaceutical and agricultural sectors, while pursuing increased pharmaceutical exports and Chinese investment. Bilateral trade increased, but India's trade deficit widened, reflecting an ongoing imbalance in trade flows.
    July 30, 2026
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    Money laundering asset attachment targets overseas bank deposits linked to alleged loan fraud and fugitive economic offenders.
    Provisional attachment under the Prevention of Money Laundering Act was reported against Singapore bank deposits held by a company promoter and associated entities in an alleged loan-fraud and money-laundering investigation. The underlying case arises from allegations of fraud, criminal misappropriation, criminal breach of trust and cheating affecting a consortium of lending banks. Service of the attachment order was reported through mutual legal-assistance arrangements, and the promoters had reportedly been declared fugitive economic offenders.
    July 30, 2026
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    Deposit interest rate uniformity requires equal rates for similar deposits, while allowing risk-based differentiation for bulk deposits.
    Banks must apply uniform deposit interest rates across branches and customers for similar deposit amounts accepted on the same date, without discrimination. Rates payable, including for bulk deposits, must strictly follow schedules disclosed in advance on bank websites. Bulk deposit rates must be published each business day at 10:00 am, subject to a short permitted delay. Differentiated bulk-deposit rates may be offered based on applicable differential run-off rates under the Liquidity Coverage Ratio framework.
    July 30, 2026
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    Supply-chain continuity measures prioritise energy, fertiliser and seafarer protection amid conflict-driven disruptions across critical maritime transit routes.
    Supply-chain continuity and energy security measures were reviewed in response to geopolitical conflicts disrupting maritime transit routes and imports. Measures included diversification of LPG procurement, maintenance of petroleum stocks, expansion of PNG, gas-grid, LNG and city-gas infrastructure, and pipeline connectivity approvals. Fertiliser requirements and alternative procurement sources were considered to ensure uninterrupted supply. A unified monitoring mechanism and support arrangements for seafarers, including timely information, emergency assistance and counselling, were directed to protect citizens, economic interests and the Indian diaspora.

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      RAK Ceramics collaborates with Birla Pivot to strengthen Tiles and Bathware Distribution across India

      January 20, 2026

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      BANGALORE, India, Jan. 20, 2026 /PRNewswire/ -- RAK Ceramics India Private Limited ("RAK Ceramics"), one of the world's leading ceramics brands, has formed a strategic partnership with Birla Pivot, the digital-first B2B commerce platform, part of Grasim Industries Limited (Aditya Birla Group). Under the collaboration, Birla Pivot will distribute RAK Bathware, KLUDI Bathware, and RAK Tiles across its dealer network and digital channels in India. The partnership brings together RAK Ceramics' global design and manufacturing expertise with Birla Pivot's pan-India distribution capabilities, supply chain infrastructure and strong network of projects and retail customers. Together, the two companies aim to deliver seamless support to developers, retailers, and project customers across India. Under the agreement, Birla Pivot will sell the complete range of RAK Bathware, including sanitaryware, faucets, and allied solutions, along with KLUDI Bathware, the premium German-origin bathware brand owned by RAK Ceramics. RAK Tiles will also be onboarded across Birla Pivot's channels - retail, project, galleries, and digital marketplace ecosystem. Adding a global perspective, Abdallah Massaad, Group CEO, RAK Ceramics, said: "India remains a priority growth market for RAK Ceramics globally. Our partnership with Birla Pivot reflects our long-term commitment to building scale, accessibility, and a stronger customer experience across tiles and bathware in the country." Commenting on the partnership, Bobby Joseph, CEO – India, RAK Ceramics, said, "India continues to be a core growth market for RAK Ceramics, and this partnership with Birla Pivot aligns with our intent to scale in a more structured and future-ready manner. Birla Pivot's integrated digital ecosystem reflects how the Indian building materials market is evolving, allowing us to expand access to our tiles and bathware portfolio while strengthening engagement across the value chain." The collaboration leverages Birla Pivot's presence across developer networks, retail stores, multi-brand galleries, project channels, and its digital marketplace, supporting adoption across residential, commercial, and institutional construction segments. Mr. Sandeep Komaravelly, CEO of Birla Pivot highlighted how Birla Pivot is transforming the fragmented building material supply chain in India "We are driving seamlessness and efficiency through our ecommerce platform, helping our customers simplify procurement through digital solutions, get access to a wider assortment and avail customised financing solutions. For sellers, the platform enables better inventory management, technology- led growth and unlock new geographies. Our partnership with RAK Ceramics and KLUDI will accelerate their growth in India while significantly strengthening Birla Pivot's tiles and bathware portfolio." For RAK Ceramics, the partnership strengthens integration within one of India's most organised building materials distribution ecosystems, supported by coordinated brand-building and on-ground market initiatives. For Birla Pivot, the collaboration adds a globally recognised tiles and bathware portfolio, enabling a broader, design-led offering across categories. About RAK Ceramics and KLUDI India: RAK Ceramics India Pvt Ltd RAK Ceramics ranks as the third largest group worldwide operating in the ceramics industry. Specialized in floors and surface coverings in ceramic and porcelain stoneware, tableware, sanitary ware, and tapware, the company has a production capacity of 118 million square meters of tiles, 5 million sanitary fixtures, 36 million pieces of tableware, and 2.6 million tapware elements per year in the company's 23 avant-garde manufacturing plants in the United Arab Emirates, India, Bangladesh, and Europe. Founded in 1989 and headquartered in Ras al-Khaimah, in the United Arab Emirates, RAK Ceramics supplies customers in over 150 countries through its network of operational hubs across the globe. RAK Ceramics is a publicly held company quoted on the Abu Dhabi Securities Exchange in the UAE. In India, RAK Ceramics operates three state-of-the-art manufacturing units and a nationwide sales network, delivering bathware, tiles, and faucets across the country. KLUDI India - The Shape of Water. KLUDI GmbH & Co. KG Founded in 1926 in the Sauerland region of Germany, KLUDI brings nearly a century of expertise in the development and manufacture of high-quality bathroom and kitchen fittings. This long-standing tradition as a fittings specialist underpins KLUDI's commitment to products that uniquely combine renowned German quality, maximum functionality, innovative technologies, and first-class design. Over the decades, KLUDI has repeatedly set benchmarks in the bathroom and kitchen space with pioneering solutions that have driven industry progress. Headquartered in Menden, Germany and holds approximately 170 inventions and more than 100 patents, along with numerous prestigious design and innovation awards. Among its many accolades, KLUDI was recognized as one of the "TOP 100 Innovators" in the German SME sector in 2022 and was also honoured with the Plus X Award for "Highest Customer Satisfaction 2024" in the B2C category. In 2025, we were honoured with the Design Middle East Award for Design Excellence in Bathroom Fittings, and KLUDI DECUS was awarded the German Design Award 2026 for Excellent Product Design. In addition to its fully integrated main manufacturing facility in Menden, KLUDI produces fittings at its plants in Diósd, Hungary, and Ras Al Khaimah, United Arab Emirates, exporting products to over 100 countries, including India. KLUDI has been part of the RAK Ceramics Group since 2022. KLUDI launched in India in December 2025 with a curated portfolio of premium products, establishing a nationwide presence and positioning itself as a distinctive player in the bathware and kitchen fittings market. About Birla Pivot Birla Pivot is a full-stack B2B e-commerce platform housed under Grasim Industries Limited (Aditya Birla Group). The platform integrates technology, supply chain, and financing solutions to simplify procurement and drive efficiency for contractors, retailers, and enterprises pan India. Birla Pivot bring together 35+ categories, 300+ brands and 40000+ SKUs across building material, chemicals and metals. Through a digital and retail ecosystem, the platform also offers a curated range of finishing materials- including tiles, ply and bathware. Photo: https://mma.prnewswire.com/media/2865147/RAK_x_BP_Collab.jpg' alt='Embedded Media' /> Logo: https://mma.prnewswire.com/media/2865146/RAK_Ceramics_Logo.jpg' alt='Embedded Media' /> (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI

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