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    Rupee rises 12 paise to close at 96.30 against US dollar
    MP industrial corporation, Amazon ink pact to accelerate e-commerce exports
    Following are the top foreign stories at 2015 hours
    Pending civil suits, arbitral claims stand abated after resolution plan approved under IBC: SC
    India'€™s forex kitty jumps USD 964 mn to USD 675.15 bn
    Rupee rises 14 paise to close at 96.28 against US dollar
    Office of Economic Adviser to Release Revised Index of Core Industries Series with Base Year 2022–23
    Fourth Edition of IICA’s National Conference on Responsible Business Conduct (NCRBC) 2026 held in New Delhi
    Reliance promoters raise stake by 0.5 pc through Rs 8,500-9,000 cr worth of share purchases
    US Senate bill seeks 100% tariffs on India, 4 other nations for buying Russian oil
    NRIs can bring USD 70-80 bn into India through FCNR deposits: expert
    NetAcct Solutions Launches Entries ERP Powered by the Entries AI Platform
    Union Minister of Commerce and Industry, Shri Piyush Goyal Leads High-Level Delegation to Finland to Strengthen Trade and Investment Ties
    India Achieves Major Milestone at Codex Commission with Adoption of Three Global Standards for Spices
    Centre for Trade and Investment Law launches guidebook to help Indian MSMEs expand into global markets
    Brazil calls Trump's 25 pc tariff unjustifiable, vows to impose reciprocal tariffs
    Trump administration races clock to rebuild US tariff wall knocked down by SC
    JK marks maiden export of premium cherries, plums to Singapore
    Chhattisgarh govt departments owe Rs 3,117 crore in power bills, assembly told
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    July 17, 2026
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    Foreign exchange market movement strengthens the rupee as equity gains and possible central-bank support offset oil-price pressure.
    Foreign exchange market movement saw the rupee appreciate against the US dollar, supported by positive domestic equity-market performance, lower US Treasury yields and reported possible central-bank intervention. Elevated West Asia tensions, higher global crude-oil prices and cautious foreign investment flows continued to pressure the currency. Market attention remained focused on global developments, crude-oil movements and foreign institutional investment activity, alongside an increase in foreign-exchange reserves.
    July 17, 2026
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    E-commerce export promotion supports Madhya Pradesh businesses through global marketplace access, exporter readiness, and a cross-border export roadmap.
    A memorandum of understanding supports Madhya Pradesh businesses, including MSMEs, entrepreneurs, direct-to-consumer brands, manufacturers, weavers, artisans and producers, in accessing international customers through the Amazon Global Selling programme. The collaboration will improve e-commerce export awareness, exporter readiness and knowledge sharing, while developing a state export roadmap with policy and infrastructure recommendations. It will also identify interventions relating to logistics, access to finance, payment reconciliation and regulatory enablers for cross-border exports.
    July 17, 2026
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    Russian oil purchase tariffs and tighter visa oversight reshape trade exposure and immigration compliance for foreign nationals.
    Proposed trade tariffs on purchases of Russian oil would target specified countries, including India and China, while exempting European purchasers of Russian gas. Separately, tighter United States visa regulations for international students, exchange visitors and journalists would end a long-standing arrangement allowing indefinite residence without government oversight. The reported changes may materially affect foreign nationals, including Indian nationals, through differentiated trade treatment and enhanced immigration compliance requirements.
    July 17, 2026
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    Clean slate doctrine extinguishes uncrystallised operational claims and pending proceedings once an approved insolvency resolution plan becomes binding.
    The clean slate doctrine under the Insolvency and Bankruptcy Code is described as abating or extinguishing pending civil suits and arbitration involving pre-insolvency operational claims that had not crystallised into determinable and quantifiable amounts before resolution-plan approval. Claims must be submitted to and determined by the resolution professional, and only crystallised claims incorporated in the approved plan remain payable under its prescribed treatment. Once final, the creditor list and approved plan bind all stakeholders.
    July 17, 2026
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    Foreign exchange reserves rose as foreign currency assets, gold, Special Drawing Rights and IMF reserve position increased.
    Foreign exchange reserves increased during the reporting week, principally because foreign currency assets rose. Reserve components include foreign currency assets, gold reserves, Special Drawing Rights and the reserve position with the International Monetary Fund. Foreign currency assets, expressed in dollar terms, reflect valuation effects arising from movements in non-US currencies held in the reserves. Gold reserves, Special Drawing Rights and the reserve position with the International Monetary Fund also increased.
    July 17, 2026
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    Rupee exchange-rate movement stabilised after possible central bank intervention, while oil prices and foreign fund flows sustained pressure.
    The rupee strengthened against the US dollar following four declining sessions, reportedly amid possible Reserve Bank of India intervention. Elevated West Asia tensions, higher crude-oil prices and cautious foreign fund flows continued to weigh on the currency, despite consolidation in the absence of major domestic triggers. Market participants were expected to monitor global developments, crude-oil movements and foreign institutional investor activity for the next directional move.
    July 17, 2026
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    Revised Index of Core Industries adopts a new base year, adds Iron Ore, and aligns production measurement methodology.
    The revised Index of Core Industries adopts 2022-23 as its base year and replaces the 2011-12 series. Its weights are derived from the 2022-23 Index of Industrial Production and redistributed pro rata to total 100. Iron Ore is added as a core industry, expanding the basket to nine industries. The Steel Index will use gross production data for consistency with the Index of Industrial Production. In the Coal sector, only Raw Coal is retained; Coal Middlings and Washed Coal are excluded to prevent double counting.
    July 17, 2026
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    Sustainability reporting discipline requires credible disclosures, board-level integration, data assurance and proportionate ESG implementation across business value chains.
    ESG-led responsible business conduct requires sustainability disclosures that are relevant, comparable, evidence-based and verifiable, supported by reliable systems, internal controls, documentation, traceability and independent examination. Sustainability should be integrated into board-level decision-making, fiduciary responsibilities, risk management and long-term enterprise value. Stronger governance, accountability and data-assurance frameworks are needed to address greenwashing, with proportionate reporting, technology and capacity-building supporting implementation across value chains and MSMEs.
    July 17, 2026
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    Promoter shareholding increase through market purchases remains within creeping acquisition limits and signals confidence in long-term growth prospects.
    Promoter and promoter-group shareholding in Reliance Industries Ltd increased by nearly 0.5 percentage points through market purchases during the June quarter. The purchases were reported to be within SEBI creeping acquisition limits, allowing gradual promoter acquisitions without triggering a mandatory open offer where prescribed thresholds are met. The increase may strengthen promoter control and marginally reduce public float, and was characterised as reflecting confidence in long-term growth, earnings trajectory and capital-allocation plans.
    July 17, 2026
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    Tariffs on Russian oil purchasers would target sanctions evasion, with reassessment mechanisms and limited energy-sector exemptions proposed.
    Proposed United States Senate legislation would impose mandatory tariffs on imports from leading purchasers of Russian oil or gas and leading facilitators of Russian oil-sanctions evasion. It provides for periodic reassessment and tariff adjustments, while exempting qualifying countries reducing Russian gas imports. Russian uranium purchases for specified nuclear and medical needs, and certain nuclear and space cooperation activities, would be excluded.
    July 17, 2026
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    Foreign currency non-resident deposits enable overseas Indians to invest foreign earnings while supporting India's foreign-exchange reserves.
    Foreign Currency Non-Resident deposits allow Non-Resident Indians and Persons of Indian Origin to maintain overseas earnings as foreign-currency fixed deposits with Indian banks without conversion into Indian rupees. Banks may offer enhanced interest rates for a limited period under an initiative intended to strengthen foreign-exchange reserves and support the rupee. The framework covers the investment process, regulatory requirements, taxation aspects and advantages for eligible overseas investors.
    July 17, 2026
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    GST compliance management integrates reconciliation, input tax credit support, invoicing and statutory monitoring within an AI-powered enterprise platform.
    The unified cloud platform combines accounting, manufacturing, inventory, procurement, human resources, payroll, compliance, reporting and document management with an embedded AI agent. Its compliance functions include GST validation, purchase-register reconciliation with GSTR-2B, input tax credit support, supplier filing-gap detection, e-invoicing, e-way bills, TDS and statutory due-date tracking. Financial and operational workflows are intended to use common real-time data, with automation for invoices, journal entries, reconciliations, reporting, workflow approvals and compliance-risk monitoring.
    July 17, 2026
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    Institutional trade cooperation expands through industry MoUs, supporting investment, innovation and technology partnerships across strategic economic sectors.
    Bilateral trade and investment cooperation was advanced through ministerial discussions and industry engagements concerning financial markets, innovation, enterprise financing and commercial relations. Two institutional Memoranda of Understanding established mechanisms for industry collaboration and greater business engagement. Sector-specific interactions covered digital and frontier technologies, space, clean energy, bioeconomy, circular economy, infrastructure and advanced manufacturing, focusing on collaboration, investment and technology partnerships.
    July 17, 2026
    Show AI Summary
    Codex spice standards harmonise quality benchmarks for cardamom, coriander and vanilla, supporting trade consistency, market access and export competitiveness.
    Codex standards for large cardamom, coriander and vanilla establish harmonised international quality benchmarks following review by relevant committees on analytical methods, food additives and food labelling. The standards are intended to promote consistent quality requirements, facilitate trade, improve market access and support export competitiveness. India was also accepted as Co-Chair of an Electronic Working Group developing policy guidance on risk analysis for new food products.
    July 17, 2026
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    Export readiness for MSMEs strengthens global market access through trade intelligence, standards compliance, preferential origin rules and trade remedy awareness.
    Export readiness for Indian MSMEs is supported through practical guidance on identifying export opportunities, market-access requirements, trade intelligence tools, international standards, sustainability requirements and buyer identification. International expansion strategies include using preferential Rules of Origin and cooperation mechanisms under Free Trade Agreements, selecting export destinations, product positioning, diversification and value addition. Trade remedy awareness and guidance on unfair trade practices and import surges, together with institutional support, partnerships and trade-exhibition participation, can strengthen global competitiveness and integration into global value chains.
    July 16, 2026
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    Reciprocal tariff measures and multilateral dispute settlement are pursued in response to contested import duties.
    Reciprocal tariff measures are proposed in response to a new tariff on specified Brazilian imports allegedly involving unfair trade practices. Brazil rejects those allegations and proposes to use its reciprocity-law mechanisms, including reciprocal tariffs and other trade-related countermeasures, while pursuing multilateral dispute settlement. It maintains that trade investigations must conform to multilateral international-trade rules and notes that the tariff may burden exports and increase commercial uncertainty.
    July 16, 2026
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    Section 301 tariff authority offers a procedurally constrained route to replace temporary global import tariffs after emergency powers failed.
    Import-tariff authority is shifting from emergency-based measures to temporary and investigatory powers under the Trade Act of 1974. Section 122 supports a global tariff measure only for a limited period, whereas Section 301 permits tariffs or trade sanctions for unjustifiable, unreasonable, or discriminatory foreign trade practices after required public-comment and hearing procedures. Current Section 301 investigations concern forced-labour imports and alleged overproduction by trading partners. A more rule-bound tariff framework may reduce, but not eliminate, commercial uncertainty, and broad use of Section 301 for near-universal tariffs may face legal challenge.
    July 16, 2026
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    International food-safety and phytosanitary compliance supports premium cherry and plum exports from Jammu and Kashmir to Singapore.
    Export of premium cherries and plums from Jammu and Kashmir to Singapore was facilitated to expand overseas market access for temperate fruits. The produce underwent scientific cultivation, optimum-maturity harvesting, grading, sorting, packing and cold-chain handling in compliance with international food-safety and phytosanitary standards. The initiative highlights quality enhancement, market development, logistics, export-oriented production and improved post-harvest management for horticultural exports.
    July 16, 2026
    Show AI Summary
    Electricity bill recovery and prepaid departmental billing are presented alongside independent tariff regulation and rooftop solar promotion.
    Electricity-payment arrears were reported against government departments and non-government consumers. Tariffs are determined independently by the State Electricity Regulatory Commission on factors including power-purchase costs, regulatory assets, the distribution company's financial position and public hearings. Recovery from non-government consumers is undertaken under the Electricity Supply Code, while a pre-paid billing system is being implemented for government departments to improve payment compliance. Rooftop solar installations are also being promoted to reduce household electricity bills.
    July 16, 2026
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    Rupee depreciation pressures intensify as elevated crude prices, foreign capital outflows and geopolitical tensions weigh on exchange markets.
    The rupee weakened for a fourth consecutive session amid elevated crude oil prices, a stronger dollar index and foreign capital outflows, with rising oil import costs adding to balance-of-payments pressures. Reserve Bank of India data showed an overall balance-of-payments deficit during the first two months of the fiscal year, although the current account recorded a surplus for April-May 2026. Geopolitical tensions and Strait of Hormuz risks were cited as supporting high crude prices, while possible Reserve Bank intervention could support the rupee.

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      Easternio: A New-Age Fashion Movement Redefining Gen Z Style with Legacy, Speed, and Purpose

      January 24, 2026

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      Easternio is emerging as one of India’s most promising women-centric fashion brands, built with a clear, bullish vision to serve the evolving aspirations of Gen Z and young millennial consumers. Positioned at the intersection of trend velocity, cultural relevance, and purpose-led growth, the brand is addressing critical gaps in India’s fashion landscape where young women are often forced to choose between overpriced fast fashion and outdated mass-market labels. Designed for a generation that values self-expression, accessibility, and authenticity, Easternio blends global fashion influences with Indian sensibilities, creating collections that are bold, wearable, and commercially relevant. The brand’s rapid traction reflects a strong founder-led conviction that Gen Z fashion in India is not a niche, but a long-term, scalable opportunity.

      Built for the Gen Z Consumer India Is Creating India’s Gen Z consumers are digitally native, trend-aware, and values-driven. They expect brands to move fast, listen actively, and deliver fashion that mirrors their individuality. Easternio is purpose-built to meet these expectations by focusing on: • Trend-forward silhouettes inspired by Y2K, streetwear, and global youth culture • Affordable pricing supported by strong sourcing and manufacturing control • Designs that balance bold expression with everyday wearability • An authentic, inclusive brand voice that resonates with real Gen Z communities Unlike traditional brands that react late to trends, Easternio is structured to move at Gen Z speed. Social-media-driven fashion moments are translated into scalable, wearable collections that reach consumers while trends are still relevant, not after they peak.

      The Founders: Bullish Vision Where Legacy Meets the Future Easternio’s strength lies in the complementary leadership of its founders, Aman Goel and Yukti Gupta, who bring together operational depth and cultural intuition.

      Aman Goel | Founder | Strategic Backbone and Legacy Leader Aman Goel brings over a decade of hands-on experience in the textile and garment industry, backed by a strong third-generation manufacturing legacy. With 10 years of deep involvement across sourcing, production, and quality control, Aman provides Easternio with a rare structural advantage in an otherwise trend-heavy fashion ecosystem.

      His understanding of fabric innovation, cost efficiency, and supply-chain scalability ensures that Easternio can grow rapidly without compromising on quality or margins. Aman’s approach reflects a bullish belief that sustainable fashion businesses are built on strong fundamentals, not short-term hype.

      Under his leadership, Easternio is designed for long-term scale, operational discipline, and trust-led brand building.

      “Legacy is not about the past. It is about knowing how to build something that lasts,” says Aman Goel.

      Yukti Gupta | Co-Founder & Chief Drip Officer | Creative and Cultural Driver Yukti Gupta leads Easternio’s creative vision with a sharp understanding of youth culture and global fashion movements. As Chief Drip Officer, she drives product design, trend direction, and brand aesthetics, ensuring every collection aligns with Easternio’s core promise of bold expression with commercial relevance.

      Her ability to decode street trends, digital culture, and social-media aesthetics, and translate them into scalable, wearable fashion, positions Easternio at the intersection of creativity and business impact. Yukti’s leadership ensures the brand stays culturally current while remaining commercially grounded.

      “Gen Z wants fashion that feels seen, expressive, and honest. Easternio is built for that reality,” says Yukti Gupta.

      Together, Aman and Yukti represent a future-ready founder duo, combining manufacturing intelligence with Gen Z-led creativity to unlock a high-growth fashion opportunity.

      Fashion With Meaning at the Core Beyond aesthetics, Easternio embeds purpose into its business model. A fixed percentage of every sale is allocated toward initiatives that uplift women and underserved communities, reinforcing the belief that fashion can drive measurable social impact.

      Key CSR Focus Areas • Women’s sanitation and menstrual hygiene • Healthcare support for underprivileged communities • Education initiatives for young girls • Skill development and livelihood programs for women For Easternio, social responsibility is not an afterthought or marketing narrative. It is a core operating principle aligned with the values of its Gen Z audience.

      More Than a Brand. A Cultural Movement Easternio is building more than a fashion label. It is cultivating a community of young women who dress boldly, think independently, and contribute meaningfully to society. Through digital-first engagement, strong storytelling, and creator-led conversations, the brand is shaping a new narrative around modern Indian femininity.

      “Easternio is our promise to help young women express themselves with confidence,” says Yukti Gupta. “We combined legacy craftsmanship with Gen Z boldness. That balance is our strength,” adds Aman Goel.

      Looking Ahead: Scaling Responsible and Relevant Fashion As Easternio enters its next phase of growth, the roadmap remains clear. Faster trend cycles without ethical compromise, scalable operations rooted in a decade of textile expertise, and deeper community-led engagement.

      With Aman Goel’s 10 years of industry experience and Yukti Gupta’s cultural fluency and creative leadership, Easternio is well positioned to emerge as a leading force in India’s youth-driven, responsible fashion ecosystem.

      Easternio is not just creating clothing. It is shaping identity, confidence, and empowered femininity for the next generation.

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

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