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    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
    HIGHLIGHTS
    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
    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
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    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.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Latest: Trump has arrived for Board of Peace launch

      January 22, 2026

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      Davos, Jan 22 (AP) US President Donald Trump is hosting presidents, prime ministers and top diplomats from more than a dozen countries to tout his international “Board of Peace” at the World Economic Forum in Davos, Switzerland.

      The list of attendees, according to a forum schedule, is heavy on the Middle East and South America. But it remains short on major US allies from Europe, and the full membership list still isn't clear. Secretary of State Marco Rubio and US envoy Steve Witkoff are with Trump.

      Europe is breathing a sigh of relief Thursday following Trump's dramatic reversal over Greenland the day before in Davos, where he scrapped the tariffs that he threatened to impose on eight European nations to press for US control over Greenland.

      Here is the latest: Trump mentions UN as a partner --------------------------------------- In his opening remarks praising the launch of his Board of Peace, Trump made a point to mention the United Nations.

      He said “many nations” have been part of establishing the body.

      Then he added, “We'll work with many others, including the United Nations.” Trump has been highly critical of the UN and withdrawn the US from multiple international organizations, and he has expressed ambitions recently that the new international board can replicate if not compete with the UN as an international broker.

      The Board of Peace logo focuses on the US and other parts of the Americas ------------------------------------------------------------------------------------- Trump initially billed his Board of Peace, focused on Gaza. Then he said it could play alongside the UN as a global broker.

      But the logo featured at the Davos event depicts North America and only parts of South America.

      The White House and State Department in Trump's second presidency also been highly focused on the Western Hemisphere, complete with Trump dubbing his approach the “Donroe Doctrine” as a play on the Monroe Doctrine established under the fifth US president.

      Trump has arrived for the Board of Peace launch --------------------------------------------------------- The US president will pitch his new international body with heads of government and top diplomats from multiple continents.

      Secretary of State Marco Rubio and US envoy Steve Witkoff are with Trump.

      The board initially was billed as part of the peace process for Israel and Gaza, but Trump has since expanded his ambitions for the group, saying it can play a role in mediating other international conflicts.

      Merz supports talks between Denmark, Greenland and the US ----------------------------------------------------------------------- Chancellor Friedrich Merz of Germany, one of the European countries that had faced Trump's threat of tariffs over Greenland, said he supports talks between Denmark, Greenland and the US but reaffirmed the Danish kingdom's sovereignty.

      “It is good news that we are making steps in the right direction,” Merz said at Davos. “I welcome President Trump's remarks from last night — this is the right way to go.” Rubio, Witkoff, and Kushner lead the Board of Peace's US delegation with Trump ------------------------------------------------------------------------------------------- Trump's core foreign policy advisers are expected to join him at the “Board of Peace” event, with Trump's son-in-law Jared Kushner in the room alongside Secretary of State Marco Rubio and US envoy Steve Witkoff.

      Witkoff and Kushner have been at the centre of multiple international negotiations, with Kushner involved especially in the Middle East despite not having an official White House role as he did in the first Trump presidency.

      Trump and other leaders set to launch the Board of Peace ------------------------------------------------------------------- The US president will host presidents, prime ministers and top diplomats from more than a dozen countries to tout his International Board of Peace.

      The list of attendees, according to a World Economic Forum schedule, is heavy on the Middle East and South America. But it remains short on major US allies from Europe, and the full membership list still isn't clear.

      Among the heads of government: Argentina President Javier Milei and Indonesia President Prabowo Subianto, both Trump allies; Paraguay's conservative President Santiago Peña; Uzbekistan President Shavkat Mirziyoyev; Pakistan Prime Minister Shehbaz Sharif; Armenian Prime Minister Nikol Pashinyan and Azerbaijan President Ilham Aliyev.

      Pashinyan and Aliyev agreed to their own peace deal at the White House last year.

      Attendees also include ministers and diplomats from Saudi Arabia, Bahrain, Turkey and Morocco, among others.

      Zelenskyy arrives in Davos --------------------------------- Ukrainian President Volodymyr Zelenskyy has arrived in Davos to meet with Trump.

      Zelenskyy is expected to make a speech and also participate in a panel discussion titled “International Advisory Council for Ukraine's Recovery.” On the sidelines of the event, Zelenskyy is expected to meet with representatives of energy companies.

      Elon Musk to speak at Davos in newly scheduled session ------------------------------------------------------------------ Tech billionaire Elon Musk is set to speak at Davos on Thursday in a newly scheduled session.

      The World Economic Forum, which Musk previously criticised, confirmed it will be the Tesla owner's first time attending the elite event in the Swiss Alps.

      His address is billed as a conversation with Laurence Fink, BlackRock's CEO and interim co-chair of the forum.

      Musk is embroiled in a war of words with Ryanair CEO Michael O'Leary that began with a dispute over installing Starlink systems on Ryanair planes. O'Leary on Wednesday dismissed the tech titan's suggestion he would buy the budget airline.

      Rutte stresses keeping Ukraine as a priority --------------------------------------------------- The NATO chief is urging allies to “keep our eyes on the ball of Ukraine” after a standoff over Greenland that rattled the alliance appeared to ease a day earlier.

      Rutte, speaking at the Ukraine breakfast, didn't address a question about whether Greenland, which Trump has coveted, would remain a part of Denmark under the “framework of a future deal” announced by the president.

      Rutte noted European plans to free up funds for Ukraine's defence and US-led talks about a peace deal, but said those efforts wouldn't bear fruit immediately, and Russia continues to launch drone and missile attacks on Ukraine.

      “What we need is to keep our eyes on the ball of Ukraine. Let's not drop that ball,” Rutte said. (AP) SKS SKS

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