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    Govt allows free imports of 10 lakh tn raw sugar until Oct 31; caps sugar stock for bulk consumers
    Govt allows free imports of 10 lakh tn raw sugar until Oct 31
    DFS Organises Workshop to Strengthen Implementation of Reservation Policy Across Public Financial Institutions
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August 20, 2026
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
Raw sugar imports are permitted duty-free under a tariff rate quota until 31 October 2026, with online allocation to eligible millers and refiners having functional refining capacity. Applicants must provide a refining-capacity declaration and supporting Consent to Operate; preference applies to importers undertaking timely completion of imports, while non-utilisation or failure to surrender allocations constitutes non-compliance. Bulk sugar consumers meeting the prescribed consumption threshold are subject to a stock cap of 15 days' consumption from 1 September to 30 November 2026.
August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.
August 20, 2026
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Responsible AI banking requires human oversight, explainable customer decisions, fair conduct, resilient systems and inclusive credit access.
Responsible AI in banking must promote inclusion, resilience and customer trust while preserving human judgement, governance accountability and clear responsibility. AI and alternative data may widen access to credit where data is obtained with consent, tested for reliability and bias, and used prudently. Banks must maintain capacity to challenge models, oversee providers, test systems under adverse conditions and intervene when automation fails. Material customer decisions must be explainable, clearly communicated and subject to review by an authorised person. Fair conduct, meaningful disclosure, impartial complaint review and transparent communication remain essential throughout the customer relationship.
August 20, 2026
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Multi-Currency EEFC settlements let exporters retain foreign earnings and choose conversion timing for overseas payment obligations.
Multi-Currency EEFC Account settlements enable exporters and international businesses to receive payment settlements directly into Exchange Earners' Foreign Currency accounts in the original transaction currency without immediate conversion into Indian rupees. Retention of foreign currency earnings permits businesses to choose when conversion is required, reducing repeated foreign-exchange conversion cycles and supporting management of foreign-currency cash flows and overseas obligations.
August 20, 2026
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Power semiconductor foundry expansion targets Indian fabless customers through technology showcasing, process development, and collaboration in the growing semiconductor market.
DB HiTek seeks to expand foundry business with Indian fabless semiconductor companies by showcasing power semiconductor and specialised process technologies. Its commercial focus includes BCD processes for automotive and industrial applications, together with silicon-carbide and gallium-nitride process development and planned volume production. Product-performance evaluations are underway with strategic customers. Customer expansion also covers X-ray, global-shutter, single-photon avalanche diode, specialty CIS, and mixed-signal/RF processes, supported by collaboration with local fabless firms.
August 20, 2026
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Money-laundering allegations over payments without services raise concerns about overseas transfers, identity-linked communications, and mineral smuggling.
Money-laundering allegations concern claimed payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions Pvt. Ltd., a company promoted by Veena T., without corresponding services. Searches reportedly yielded handwritten material referring to fund transfers to Dubai and digital material relating to a SIM card obtained in another person's name. Further allegations included overseas fund movement, hawala transfers, and possible thorium or monazite smuggling, all presented as allegations requiring examination.
August 20, 2026
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Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
August 20, 2026
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Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.
August 20, 2026
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Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.
August 19, 2026
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Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.
August 19, 2026
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MSME competitiveness requires affordable credit, technology adoption, formalisation, sustainable trade and stronger export-market access for inclusive growth.
MSME development is identified as central to employment generation, exports, entrepreneurship, economic resilience and self-reliance. Key priorities include affordable credit, technology upgradation, supply-chain integration, market access, brand-building and reduced red tape. Formalisation of micro industries is emphasised to expand institutional credit access, while sustainable trade is promoted through green technologies and renewable energy. Export competitiveness is to be strengthened through regional production capabilities and the "One District, One Export Hub" initiative.
August 19, 2026
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Supply-side inflation risks support a policy pause pending evidence of broad-based, persistent price pressures and de-anchored expectations.
Monetary policy calibration remained on hold because food and fuel inflation had not yet produced broad-based or persistent price pressures. The policy pause was supported by limited pass-through of supply-side shocks, contained core inflation and no clear demand-driven overheating. Recalibration depends on incoming evidence of persistent inflation, entrenched supply-side pressures, de-anchored expectations and the evolving growth-inflation dynamic. Geopolitical disruption, volatile oil prices, monsoon conditions and El Nin o-related agricultural risks remain material inflation risks.
August 19, 2026
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Examination irregularities investigation examines alleged answer-sheet cheating, managed centres and suspected solver-gang involvement by a biometric operator.
Alleged examination irregularities involved suspected cheating through the receipt of an answer sheet by an examinee from personnel of a private firm conducting the examination. Police arrested a biometric operator following an investigation into his alleged involvement. His prior work with biometric firms and manpower supply agencies was examined in connection with clues concerning allegedly managed examination centres and a suspected solver gang.
August 19, 2026
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Trade restrictions on Iran halt commercial and financial exchanges as regional security threats disrupt maritime commerce and re-export access.
UAE trade restrictions on Iran halted all trade, commercial exchanges and financial transactions until further notice following reported ballistic-missile incidents and regional security escalation. The UAE assessed the missiles as directed at maritime traffic, while Iran denied launching them. The suspension disrupts the UAE's role as a major trade and re-export gateway for Iran and may increase Iran's economic isolation. Continuing threats to shipping through the Strait of Hormuz also create economic risk for the UAE's regional business, finance and tourism position.
August 19, 2026
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Inflation persistence and expectations guide continued rate hold amid supply shocks and uncertainty over broader price pressures.
Monetary policy calibration remains contingent on clearer evidence that supply-side price shocks are becoming persistent, broad-based inflationary pressures. The policy rate was maintained unchanged amid uncertainty from higher energy costs, supply-chain disruption, an erratic monsoon and food, fuel and input-price risks. Policy tightening may be required if inflation becomes generalised, expectations become de-anchored, or inflation persists. A wait-and-watch approach was preferred pending clearer realised inflation, forecasts, weather effects and global conditions.
August 19, 2026
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Online credit card applications streamline comparison, eligibility screening and e-KYC, while approval remains subject to issuing-bank criteria.
Online credit card applications through the JioFinance app combine card comparison, eligibility checks, electronic verification, application submission and status tracking. Eligibility screening may occur without affecting the applicant's credit score, but approval remains subject to the issuing bank's criteria and internal policies. Aadhaar-based e-KYC or other accepted electronic verification may be used where applicable. Applicants should provide accurate Aadhaar, PAN and mobile details. Eligible approved applicants may receive a virtual card before physical-card delivery, subject to applicable terms and conditions.
August 19, 2026
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Comprehensive strategic partnership drives ministerial and business engagements on investment, market access, technology collaboration, skills and agri-food trade.
India-Singapore economic engagement is being advanced through ministerial and business roundtables under the Comprehensive Strategic Partnership. A multidisciplinary business delegation is undertaking business-to-business, government-to-business and institutional engagements focused on partnerships, investment, market access, technology collaboration and talent development. Agricultural trade cooperation includes promotion of Indian agri-food exports through a retail initiative. The engagement seeks to strengthen trade, investment, digitalisation, advanced manufacturing, skills development, green-economy cooperation and people-to-people ties.

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Customs & Trade

Trump's European threats could make it harder for future US leaders to repair ties

January 22, 2026

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Washington, Jan 22 (AP) Barely a month into his presidency, Joe Biden had a message for Europe.

“America is back,” Biden told the Munich Security Conference in 2021. “The transatlantic alliance is back.” It was a promise Biden delivered often as he sought to cast the disruptions of his predecessor, Donald Trump, as an anomaly. But nearly five years later, Biden's assurances have proven short-lived.

In his second term, Trump has cast aside alliances forged over seven decades with Europe that helped lead to the reunification of Germany and the collapse of the Soviet Union. He has hectored leaders, making demands and levelling accusations more commonly associated with enemies. In the process, he has rocked the stability that has sustained the relationships and left countries to chart a course without US leadership.

The most stark example of this shift has been Trump's threat to take over Greenland, dismissing the nation as a large “piece of ice” as he demanded that Denmark cede control to the US, a move that could have caused NATO to rupture.

He called Denmark, which had the highest per capita death toll among coalition forces in Afghanistan, “ungrateful” for US protection during World War II. He posted private text messages that showed European leaders trying to court him. Trump shared images of himself planting the US flag in Greenland and, in an extraordinary speech at the World Economic Forum in Davos, said Europe was “not heading in the right direction.” At one point, he said that “sometimes you need a dictator.” Then, hours later, he announced a “framework of a future deal” on Arctic security. Following a long pattern, however, he offered scant details.

An uncertain standing for the US in the world ------------------------------------------------------ Though Trump has, for now, backed away from his most potent threats to obtain Greenland, the episode has left America's standing in the world uncertain.

NATO leaders already were responding to Trump's threats by signalling strategies that don't include the US That could make it much harder for the next president — whether they are a Democrat or Republican — to attempt the same type of reputational repair that Biden sought.

“To an extent, things can be improved,” said Jon Finer, who was Biden's deputy national security adviser and is now a distinguished senior fellow at the Centre for American Progress. “But they will never be the same in large part because I think any country that is behaving rationally in terms of its relationship with the United States will realise that we can only be counted on in four-year increments, if at all." Canadian Prime Minister Mark Carney, who parried Trump's gambit to make Canada the 51st state, has already set out on a more independent path. In Davos, Carney was candid that the notion of the longstanding rules-based order was an “illusion.” “Let me be direct: We are in the midst of a rupture, not a transition,” Carney said as he called on so-called middle powers to “act together.” Unable to reach a deal with Trump to cut tariffs, Carney was in Beijing last week meeting with President Xi Jinping and brokering a deal that cut levies on Chinese electric cars in return for lower tariffs on certain agricultural and food products, including Canadian canola, lobsters and crab. While there, he said ties between Ottawa and Washington were “much more multifaceted” than with Beijing, but added “the way our relationship has progressed in recent months with China, it is more predictable.” Over the weekend, the European Union and the Mercosur bloc of South American countries formally signed a long-sought free trade agreement, which European Commission President Ursula von der Leyen portrayed as a bulwark against the Trump administration. EU lawmakers narrowly voted on Wednesday to hold up the deal for now.

European leaders were unsparing ----------------------------------------- Ahead of Trump's appearance in Davos, European leaders were unsparing, using language that until recently would have been unthinkable in relation to a dispute with the US French President Emmanuel Macron cautioned against colonial adventures, warning of “a shift towards a world without rules.” Belgian Prime Minister Bart De Wever said, “so many red lines have been crossed,” adding, “being a happy vassal is one thing. Being a miserable slave is something else. If you back down now, you're going to lose your dignity.” This moment was also notable for the criticism of Trump from longtime allies on the right. In the UK, Nigel Farage said in an interview with US House Speaker Mike Johnson that he understood the security issues Trump was raising in the Arctic. But he added that Trump's approach amounted to the “biggest fracture” in the transatlantic relationship in decades.

“To have a US president threatening tariffs unless we agree that he can take over Greenland, by some means, without it seems even getting the consent of the people of Greenland, I mean, this is a very hostile act,” Farage told Johnson.

Jordan Bardella, president of Marine Le Pen's far-right National Rally party in France and a European Parliament lawmaker, posted that the EU should suspend last year's tariff deal with the US, describing Trump's threats as “commercial blackmail.” Trump mostly has support from the GOP in Congress -------------------------------------------------------------- Congressional Republicans so far have largely supported Trump — or stayed silent.

House Foreign Affairs Committee Chairman Brian Mast likened the dispute to “a hard conversation" and questioned the long-term consequences. Trump used his 2025 State of the Union address to express a desire to reclaim the Panama Canal.

“If you went back exactly one year, you might say, ' Man, the tensions with Panama were the worst they'd ever been,'” said Mast, a Florida Republican. “Panama came in last week, things were the best that they'd ever been because we had some really tough conversations with each other that we needed to have.” The most pointed concerns from inside the GOP have largely come from those who aren't running for reelection this year, including Rep. Don Bacon of Nebraska, who said on Wednesday that “all of this has been totally unnecessary.” “Threatening Greenland with force was absurd,” he said.

For their part, Democrats have encouraged a more robust response — both from Europe and in the US California Gov. Gavin Newsom, a potential Democratic presidential candidate in 2028, was in Davos this week and blasted Europeans for focusing on diplomatic efforts ahead of Trump's appearance.

“Diplomacy with Donald Trump?” he said. “He's a T. rex. You mate with him, or he devours you.” In an interview, Rep. Gregory Meeks, the top Democrat on the House Foreign Affairs Committee, said it “may take some time” for a future president to rebuild trust with allies. But he argued a full recovery in global relationships may require a more lasting shift in US politics.

Allies will “continue to hold their breath until you have two consecutive elections when we know we have a president that is going to stick by our institutions,” he said. “Everybody's just looking at us now as a nation and trying to see where we will be.” (AP) SKS SKS

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