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March 9, 2026
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Under-reporting of sales detected - data-driven inquiry prompts compliance notices for restaurants to update tax filings.
A data-driven exercise found under-reporting of sales in the restaurant sector through AI analytics comparing transactional data with reported turnover, revealing deletion and modification of bills and omission of transactions. The tax authority has opened investigations and, under the NUDGE campaign, is directing identified outlets to update their income tax returns by a compliance deadline while probes into billing-software manipulation and sampled premises continue.
March 9, 2026
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Force majeure declarations disrupt oil and gas contractual supply chains, creating carriage, insurance and performance risks for parties.
Strikes and security-driven closures have caused shutdowns at major oil and gas terminals, pipelines and refineries, leading suppliers to invoke force majeure and creating contractual, insurance and logistical challenges. The effective closure of a maritime chokepoint and targeted attacks on alternative export terminals have increased carriage and routing risks, while storage constraints have forced producers to suspend output; once shut in, restart may take weeks or months, affecting mitigation, notice and performance obligations. State regulatory orders may create legal bases for interruption separate from force majeure.
March 9, 2026
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Force majeure invoked for oil shipments, suspending contractual delivery obligations amid Gulf supply disruptions and transit risks.
Military attacks and leadership developments in Iran have impaired Gulf oil and gas production and shipping, prompting a national oil company to invoke force majeure to suspend contractual shipment obligations due to extraordinary damage and security risks; resulting export curtailments, tanker transit disruptions through the Strait of Hormuz, and filled storage have reduced available supply, while governments consider reserve releases and impose regulatory measures against hoarding to stabilize markets and protect energy security.
March 9, 2026
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March 9, 2026
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Force majeure declarations amid Middle East conflict trigger supply disruptions and spur talks of releasing strategic oil reserves.
Attacks on production and shipping linked to the Iran conflict have reduced exports and prompted a national oil company to declare force majeure, relieving contractual obligations during extraordinary disruption. Some producers have cut output as storage fills, while major consuming states are considering coordinated releases of strategic petroleum reserves and domestic measures to prevent hoarding and price collusion to stabilize markets.
March 9, 2026
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Limiting customer liability in digital transactions expanded to cover more fraud and introduce a temporary compensation mechanism.
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Oil supply disruption drives crude price surge and market volatility amid Middle East conflict, threatening shipping and energy inflation.
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Export Obligation extension grants automatic relief for advance and EPCG authorisations, no application or fee required.
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A temporary sanctions waiver permitting sale and delivery of Russian-origin crude loaded prior to the cutoff enables Indian refiners to accept in transit Russian cargoes without breaching sanctions; refiners are also sourcing additional supplies from non-conflict regions, maintaining processing rates and using onshore and strategic reserves to preserve inventory coverage while facing higher freight, insurance and commodity price risks.
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Trade preference: India secured preferential market access under a bilateral framework with the US, affecting tariffs and procurement.
A bilateral trade framework with the US sets reciprocal tariff adjustments and market-access commitments, with India agreeing to reduce or eliminate tariffs on a broad set of US industrial and agricultural products and declaring procurement commitments for US goods; final legalisation is pending after changes in US tariff policy and postponement of negotiators' talks.
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Government emergency power to direct refineries ensures LPG supply while domestic cooking gas prices rise.
Domestic cooking gas prices were raised significantly and commercial LPG rates were increased separately; state differentials reflect local tax incidence. The rise was linked to global energy price spikes and supply disruptions through the Strait of Hormuz. The government invoked emergency powers to direct refineries to boost LPG production and indicated petrol and diesel prices will not be raised immediately because state oil companies can absorb short term cost pressures.
March 7, 2026
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Port facilitation measures urged to permit charge waivers and operational steps to manage disruption from West Asia crisis.
The Ministry's Standard Operating Procedure requires each port to appoint a nodal officer as single point of contact to secure timely action and mandates that ports consider, case by case and depending on circumstances, requests for reduction, waiver or remission of charges including storage rent and change of vessel charge; permit storage of Middle East bound cargo as transshipment cargo; allot additional storage; facilitate ad hoc berthing and expedited return movement of export cargo; prioritise perishable cargo handling; and coordinate with Customs and DGFT for implementation.

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Customs & Trade

Glottis Logistics Aligns Expansion with Budget's Infrastructure Push

February 17, 2026

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Company plans INR130 crore asset expansion as Union Budget 2026–27 strengthens freight connectivity and customs reform Mumbai, Maharashtra, India (NewsVoir) Chennai-based Glottis Logistics is aligning its expansion strategy with the infrastructure-led thrust outlined in Union Budget 2026–27, betting that improved freight connectivity and customs modernisation will shape the next phase of India’s trade growth.

With capital expenditure set at INR 12.2 lakh crore for FY27, the Centre has reinforced its commitment to multimodal logistics integration, port-linked industrial corridors and inland freight networks. For organised logistics operators, these investments are expected to gradually reduce structural costs and improve transit predictability — key variables in an increasingly volatile global trade environment.

Glottis, which provides end-to-end ocean, air and road freight services along with customs brokerage and warehousing solutions, handled over ~110,000 TEUs in FY25 and served nearly 1,900 clients across renewable energy, engineering, high-technology and commodity sectors.

In FY25, the company reported a Debt-to-Equity ratio of 0.23x which signals strong balance sheet health enabling aggressive growth pursuits, and through its disciplined capital deployment and operational efficiency has delivered Return on Equity (ROE) of 57.4% and Return on Capital Employed (ROCE) of 73.1%.

Building on that base, Glottis has outlined capital expenditure of approximately INR 130 crore toward acquiring trailers and container assets. The objective is to increase owned capacity, reduce dependence on third-party equipment and strengthen execution control across trade corridors.

“Budget 2026–27 may not announce large short-term incentives, but it strengthens the backbone of trade through infrastructure and customs efficiency,” said Ramkumar Senthilvel, Promoter and Managing Director, Glottis Logistics. “For logistics companies, predictability and execution will increasingly determine competitiveness. Aligning capital allocation with structural reforms is essential for sustainable growth.” The government’s emphasis on dedicated freight connectivity, coastal shipping and multimodal integration is expected to benefit asset-backed operators that can optimise routes and improve utilisation rates. Expansion of logistics infrastructure into Tier-II and Tier-III clusters may also support distributed manufacturing growth, potentially broadening cargo flows beyond traditional metropolitan gateways.

Alongside physical infrastructure, customs digitisation measures — including electronic cargo sealing, expanded non-intrusive inspection systems and extended duty deferment for Authorised Economic Operators — aim to shorten clearance timelines and ease working capital pressures for exporters and intermediaries.

Industry executives note that time compression in border processes can be as significant as freight cost reductions, particularly as global supply chains adjust to geopolitical shifts and sourcing diversification.

Glottis has continued to expand its footprint across industrial corridors, including the launch of a new Ahmedabad branch in January 2026 to align with western port-led growth zones. The company has been delivering steady performance, supported by diversification across transport modes and strong regional trade linkages.

While global trade volumes remain uneven due to inventory corrections and demand shifts, infrastructure-led reforms are expected to strengthen India’s long-term export competitiveness. For logistics operators, the transition signals a shift from incentive-driven growth to efficiency-led scale.

Infrastructure investment may not generate immediate stimulus-driven gains. But over time, it reshapes cost structures, execution reliability and global positioning. For Glottis Logistics, the strategy is clear: invest in assets, maintain balance-sheet discipline and align expansion with a trade ecosystem increasingly defined by operational strength rather than incentives.

About Glottis Logistics Glottis Logistics is a global freight forwarding and supply chain solutions provider, headquartered in Chennai, India. Founded in 2004, the company brings over two decades of expertise in delivering reliable and efficient logistics services across air, sea, and land transport.

With a skilled and dedicated team, Glottis Logistics offers end-to-end logistics support, including freight forwarding, customs clearance, warehousing, 3PL solutions, and multimodal transport. The company’s integrated solutions are designed to simplify complex supply chain challenges and ensure secure, on-time deliveries for businesses of all sizes — from local enterprises to global enterprises.

Leveraging a strong pan-India network and global partnerships, Glottis Logistics combines operational precision with transparency and customer-focused service to drive performance and growth in domestic and international trade.

Website: www.glottislogistics.in.

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

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