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    Commerce and Industry Minister Piyush Goyal Calls for WTO-Compliant Approach to Correcting Global Trade Distortions at the Concluding Day of G20 Trade...
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October 3, 2026
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Forced-labour border measures require verifiable evidence, due process and WTO consistency while preserving cooperation without unilateral trade action.
Global trade distortions should be addressed through WTO-consistent, evidence-based anti-dumping and countervailing measures, without restricting developing countries' policy space for industrialisation. Most-Favoured-Nation treatment, consensus decision-making, special and differential treatment, and a two-tier dispute-settlement system remain central to multilateral trade governance. Imports produced using forced labour are prohibited, while border measures must rely on specific, verifiable evidence, observe due process and WTO rules, and avoid presumptions concerning entire countries, regions or sectors.
October 3, 2026
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Export-led market access for Makhana expands overseas buyer linkages, supports higher producer returns, and promotes European market diversification.
Export-oriented market access for Bihar's Makhana is being expanded through a facilitated shipment of popped Makhana from Purnea to Greece. APEDA's support connects producers and exporters with international buyers and strengthens the export value chain. Higher price realisation than domestic selling prices indicates scope for improved producer returns, wider farmer and producer-group participation, and diversification into European markets. Export promotion is linked to a proposed Agri Export Policy and packhouse development.
October 3, 2026
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FPO-led export market access links processed food producers with global buyers and strengthens agricultural value-chain participation.
APEDA facilitated an FPO-led export of frozen food products to Canada by Aterna Foods Producer Company Limited, with support under its Financial Assistance Scheme. The export included frozen vegetables, sweet corn, samosa and other processed food products. Market-linkage initiatives connect Farmer Producer Organisations and Farmer Producer Companies with exporters and global buyers, promoting export-oriented value chains and integrating agricultural produce with processing and international markets.
October 3, 2026
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RELIEF timeline extension preserves credit-insurance support and premium protection for exporters facing West Asia maritime disruptions.
Component II of the RELIEF intervention extends operational timelines for exporters affected by West Asia maritime-logistics disruptions. It encourages eligible exporters to obtain ECGC cover for upcoming shipments to specified regions with 95% risk coverage. Benefits apply to qualifying Stand Alone Policies and Whole Turnover Policies, covering full container load, less than container load, and reefer containers, but excluding energy shipments. Eligible exporters' insurance premium cannot increase beyond the pre-disruption level during the relevant period.
October 3, 2026
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RoDTEP duty remission continues for eligible exporters, preserving existing rates and value caps through the extended period.
RoDTEP Scheme continuation is extended until 31 December 2026 for exports made by Domestic Tariff Area units, Advance Authorisation holders, Special Economic Zone units and Export Oriented Units. The scheme remits embedded, un-rebated Central, State and local duties, taxes and levies borne on exported products. Existing RoDTEP rates and value caps remain unchanged throughout the extension.
October 3, 2026
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Wildlife trafficking enforcement targeted unlawful possession, transport and proposed sale of ivory, leopard skin, pangolins and tiger parts.
Illegal wildlife trafficking operations addressed alleged possession, transportation, and attempted sale of elephant ivory, leopard skin, live pangolins, and tiger parts. Possession without licence and trade in elephant ivory or ivory articles are prohibited under the Wild Life (Protection) Act, 1972. Leopards, pangolins, tigers, and their body parts receive Schedule I protection, while pangolins are also listed in CITES Appendix I, prohibiting international trade. Recovered wildlife articles, live animals, and vehicles were transferred or seized for action by forest and specialised wildlife enforcement agencies.
October 3, 2026
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Two-way airport smuggling: airport staff allegedly facilitated clandestine gold entry and illicit diamond export through transit and outbound passengers.
An alleged two-way smuggling arrangement involved airport staff receiving foreign-origin gold dust in wax capsules from transit passengers for clandestine removal into India and transferring diamonds to an outbound passenger for illicit export to Dubai. Seizure included 23 capsules of 24-carat foreign-origin gold dust in wax form and natural and lab-grown diamonds. The modus operandi used the same airport employee to facilitate import-side gold smuggling and export-side diamond smuggling.
October 3, 2026
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Seized narcotic-drug disposal prevents contraband re-entry through supervised destruction, lawful opium deposit, and environmentally safe incineration.
Authorised disposal of seized narcotic drugs under the Narcotic Drugs and Psychotropic Substances Act, 1985 involved destruction of 10,842.150 kg of contraband through an approved process supervised by the Drug Disposal Committee and attended by a pollution-control representative. Seized opium was separately deposited with the Government Opium and Alkaloid Works as part of the disposal process, aimed at preventing contraband from returning to illicit drug trafficking and ensuring environmentally safe incineration.
October 3, 2026
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International postal narcotics trafficking: hydroponic ganja concealed in cake pouches was seized under NDPS procedures.
Seizure under the relevant provisions of the Narcotic Drugs and Psychotropic Substances Act, 1985, covered hydroponic weed (ganja) recovered from an international parcel received from Thailand. The contraband was concealed in cake pouches placed among other packets and articles to camouflage its presence. Specific intelligence prompted examination, recovery, weighing and seizure following due legal procedure, with further investigation in progress.
October 3, 2026
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NDPS enforcement enabled opium and vehicle seizure, with arrest after an intelligence-led roadside interception operation.
Intelligence-based enforcement under the Narcotic Drugs and Psychotropic Substances Act, 1985, resulted in the interception of a motorcycle and recovery of 4.240 kg of opium. The opium and motorcycle used for transportation were seized after legal formalities, and one person was arrested. Investigation continues to trace the contraband's source and intended destination and identify other persons connected with the suspected trafficking network.
October 1, 2026
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GST revenue accounting distinguishes gross collections, refunds, net domestic and customs revenue, and SGST-IGST settlement reporting.
Gross GST revenue for September 2026 distinguishes domestic collections and IGST on imports; after domestic and ICEGATE refund adjustments, net revenue is calculated separately for domestic and customs GST. Cumulative collections through September similarly distinguish gross receipts, refunds and net revenue. SGST reporting compares pre-settlement receipts with post-settlement amounts that include the SGST portion of IGST settled to States and Union Territories. State and Union Territory revenue comparisons exclude GST on imported goods, while April-September domestic collections are split between Central and State formations.
October 1, 2026
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Annual Survey of Industries results record broad manufacturing growth and define survey coverage, enumeration, digital data collection, and reliability limits.
ASI 2024-25 records broad-based growth in registered manufacturing, including establishments, output, Gross Value Added, employment, emoluments, fixed capital, invested capital, net income and net profit. The survey covers specified registered factories, bidi and cigar establishments, certain electricity undertakings, and qualifying large units in State-maintained business registers. Data are collected electronically under the statutory framework for collection of statistics using an establishment-based approach, with quality checks and caution required because the estimates arise from a sample survey.
October 1, 2026
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Economic resilience policy dialogue examines financial stability, digital governance, trade fragmentation, and investment priorities amid global uncertainty.
The fifth Kautilya Economic Conclave will examine economic resilience amid global shocks through discussions on macroeconomic stability, monetary policy, financial stability, investment, fiscal federalism and capital-market development. Its agenda also covers digital economy governance, artificial intelligence, trade fragmentation, strategic autonomy, climate resilience, food systems, demographic change and global health security. Plenaries, parallel sessions and closed-door roundtables will consider policy responses and mobilisation of domestic and foreign capital for long-term investment.
September 30, 2026
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Equity acquisition in a life insurer receives competition clearance for BNP Paribas Cardif's proposed investment.
Competition Commission of India approval covers a proposed combination under which BNP Paribas Cardif will acquire certain equity share capital in IndiaFirst Life Insurance Company Limited. The transaction is an acquisition of an ownership interest in an Indian life insurer. IndiaFirst Life Insurance Company Limited is incorporated in India, is an IRDAI-licensed insurer, and provides life insurance in India.
September 30, 2026
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Merger control clearance permits Chubu's acquisition of equity in Continuum Green Energy through primary and secondary transactions.
Competition Commission of India approval covers the acquisition of certain equity shareholding in Continuum Green Energy Limited by Chubu Electric Power Company Netherlands B.V. The proposed combination comprises a primary subscription for, and secondary purchase of, the Target's equity shares from Continuum Green Energy Holdings Ltd., Singapore. The Target and its Indian subsidiaries primarily generate and sell renewable power from wind and solar sources.
September 30, 2026
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Competition clearance authorises Bain Capital funds to acquire majority control of Everllence through a share transfer from Volkswagen.
Competition approval covers the indirect acquisition of a majority of the shares and voting rights in Everllence SE and its direct and indirect subsidiaries by funds managed or advised by Bain Capital Investors, LLC, from Volkswagen Aktiengesellschaft through a share transfer. Nikolaus (BC) Bidco GmbH acts as the purchaser and is a special purpose vehicle ultimately controlled by Bain Capital-managed or advised funds.
September 30, 2026
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Full-shareholding acquisition in crop protection receives competition clearance, combining businesses spanning agrochemicals, seeds, and agricultural equipment.
Competition Commission of India approved Crystal Crop Protection Limited's acquisition of the entire, fully diluted shareholding of FMC India Private Limited from FMC Netherlands Holdings II B.V. and its affiliates. The approved combination comprises the acquisition of 100% of FMC India's shareholding by Crystal Crop. Crystal Crop is an Indian public limited company engaged in development, manufacture, and distribution of crop protection products, seeds, and agricultural equipment.
September 30, 2026
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Investment facilitation supports cross-border manufacturing, technology, supply-chain, and business expansion partnerships between the two economies.
India-U.S. economic engagement extends beyond conventional trade to investment, manufacturing, technology, innovation, resilient supply chains, and high-value capabilities. Business engagement with manufacturing and technology companies addresses opportunities in India and expansion of partnerships. The Government of India indicates readiness to facilitate corporate operations, expansion, and investments in India.
September 30, 2026
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Monthly fiscal accounts report receipts, tax devolution, and revenue and capital expenditure against budget estimates.
Monthly accounts up to August 2026 record total receipts of Rs.13,67,709 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution to State Governments totals Rs.5,90,391 crore. Total expenditure is Rs.20,77,958 crore, divided between revenue expenditure of Rs.15,68,009 crore and capital expenditure of Rs.5,09,949 crore, with revenue expenditure including interest payments and major subsidies.
September 28, 2026
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Rules-based multilateral trade engagement supports bilateral agreement negotiations, enterprise opportunities, investment partnerships, and developing-country policy space.
India's G20 trade engagement promotes a rules-based, open and non-discriminatory multilateral trading system while preserving policy space for developing countries. Bilateral discussions seek to expand opportunities for farmers, fishermen, women entrepreneurs, startups, MSMEs and other enterprises. India-United States engagement is intended to advance a balanced Bilateral Trade Agreement and an interim trade deal, alongside investment and industry outreach promoting manufacturing partnerships with Indian enterprises.

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Anger and anguish spread across Cuba as it learns of Trump's tariff threat on those who provide oil

January 31, 2026

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Havana, Jan 30 (AP) Massive power outages in Cuba meant that many people awoke Friday unaware that US President Donald Trump had threatened to impose tariffs on any country that sells or supplies oil to the Caribbean island.

As word spread in Havana and beyond, anger and anguish boiled over about the decision that will only make life harder for Cubans already struggling with an increase in US sanctions.

“This is a war,” said Lázaro Alfonso, an 89-year-old retired graphic designer.

He described Trump as the “sheriff of the world” and said he feels like he's living in the Wild West, where anything goes.

After Trump made the announcement late Thursday, he described Cuba as a “failing nation” and said, “it looks like it's something that's just not going to be able to survive.” Alfonso, who lived through the severe economic depression in the 1990s known as the “ Special Period ” following cuts in Soviet aid, said the current situation in Cuba is worse, given the severe blackouts, a lack of basic goods and a scarcity of fuel.

“The only thing that's missing here in Cuba … is for bombs to start falling,” he said.

Cuba is hit every day with widespread outages blamed on fuel shortages and crumbling infrastructure that have deepened an economic crisis exacerbated by a fall in tourism, an increase in U.S. sanctions and a failed internal financial reform to unify the currency. Now Cubans worry new restrictions on oil shipments will only make things worse.

On Friday, Cuban President Miguel Díaz-Canel said on X that Trump's measure was “fascist, criminal and genocidal” and asserted that his administration “has hijacked the interests of the American people for purely personal gain.” Meanwhile, Cuban Foreign Minister Bruno Rodríguez wrote on X that Trump's measure “constitutes an unusual and extraordinary threat” and said he was declaring an international emergency.

Trump previously said he would halt oil shipments from Venezuela, Cuba's biggest ally, after the US attacked the South American country and arrested its leader.

Meanwhile, there is speculation that Mexico would slash its shipments to Cuba.

Mexican President Claudia Sheinbaum said Friday that she would seek alternatives to continue helping Cuba and prevent a humanitarian crisis after Trump's announcement.

Sheinbaum said one option could be for the United States itself to manage the shipment of Mexican oil to the island, although it was necessary to first understand the details of Trump's order.

Mexico became a key supplier of fuel to Cuba, along with Russia, after the US sanctions on Venezuela paralyzed the delivery of crude oil to the island.

“It's impossible to live like this,” said Yanius Cabrera Macías, 47, a Cuban street vendor who sells bread and sweet snacks.

He said he doesn't believe Cuba is a threat to the United States.

“Cuba is a threat to Cubans, not to the United States. For us Cubans here, it is the government that is a threat to us,” he said, adding that Trump's latest measure would hit hard. “In the end, it's the people who suffer … not the governments.” Jorge Piñon, an expert at the University of Texas Energy Institute who tracks shipments using satellite technology, said there is no answer to a key question: how many days' worth of fuel does Cuba have? If no tanker looms in the horizon within the next four to eight weeks, Piñón warned Cuba's future would be grim.

“This is now a critical situation because the only country we had doubts about was Mexico,” he said, noting that diesel is “the backbone of the Cuban economy.” Piñón noted that the Chinese don't have oil, and that all they could do is give Cuba credit to buy oil from a third party. Meanwhile, he called Russia a “wild card: It has so many sanctions that one more doesn't bother (Vladimir) Putin," adding that because of those sanctions, a lot of Russian oil is looking for a destination.

Meanwhile, many Cubans continue to live largely in darkness.

Luis Alberto Mesa Acosta, a 56-year-old welder, said he is often unable to work because of the ongoing outages, which remind him of the “Special Period” that he endured.

“I don't see the end of the tunnel anywhere,” he said, adding that Cubans need to come together and help each other.

Daily demand for power in Cuba averages some 3,000 megawatts, roughly half what is available during peak hours.

Dayanira Herrera, mother of a five-year-old boy, said she struggles to care for him because of the outages, noting they spend evenings on their stoop.

She couldn't believe it when she heard on Wednesday morning what Trump had announced.

“The end of the world,” she said of the impact it would have on Cuba. (AP) GSP

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