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    DRI seizes over seven kg amphetamine and three kg cocaine as it intensifies crackdown on drug trafficking in country; three arrested
    DRI seizes 13 kg foreign-origin gold worth around Rs. 19.41 crore and dismantles a gold smuggling syndicate in Gujarat; three arrested
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    APEDA Facilitates Export of 1.755 MT of Organic Palmyra Jaggery Powder from Tamil Nadu to Bulgaria
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    The cumulative exports (merchandise & services) during April-September 2026-27 are estimated at US$ 476.20 Billion, as compared to US$ 418.31 Billion ...
    Union Minister of Commerce and Industry Shri Piyush Goyal Calls on Youth to Drive India’s AI Journey
    CCI approves acquisition of majority stake in Tribhovandas Bhimji Zaveri Limited by GRT Jewellers (India) Private Limited
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October 19, 2026
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Narcotics trafficking enforcement led to airport and road interceptions, baggage concealment detection, seizures, and arrests under the NDPS framework.
Narcotics trafficking enforcement under the Narcotic Drugs and Psychotropic Substances Act, 1985, involved intelligence-led interceptions at Bengaluru and Delhi airports and near Nagpur. Passenger baggage and a backpack were examined, leading to the seizure of amphetamine and cocaine and the arrest of three passengers. The recoveries included amphetamine concealed in baggage, a ladies' suit and a backpack lining, and cocaine contained in transparent packets within baggage.
October 19, 2026
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Gold smuggling syndicate enforcement traces concealed imports through airport handlers, illicit melting, and jewellery-market disposal under customs law.
Directorate of Revenue Intelligence enforcement action identified an organised gold-smuggling syndicate importing foreign-origin gold through Ahmedabad and Surat airports, followed by handover to handlers, intermediary routing, illegal melting, and cash-based supply through an Ahmedabad jewellery outlet. Further searches recovered undocumented foreign-origin gold bars and records concerning smuggled gold linked to a Dubai-based financier. The investigation identified interconnected roles across the movement, processing, and disposal of smuggled gold; three persons were arrested under the Customs Act, 1962.
October 19, 2026
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Free trade agreement utilisation requires origin compliance, product standards, and documentation to secure preferential export market access.
Effective FTA utilisation requires businesses to identify eligible products and markets, assess tariff preferences and rules of origin, and meet applicable quality, certification, documentation and importing-country requirements. Preferential access under agreements with the UAE, Australia, EFTA countries and the United Kingdom remains subject to each agreement's provisions and implementation status. Tariff preferences may improve price competitiveness and facilitate participation in international supply chains where product- and partner-specific conditions are satisfied.
October 19, 2026
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Drug prevention awareness initiatives engage students through health education, interactive activities and pledges supporting a drug-free society.
Mission Yuva Raksha advances preventive drug awareness and demand-reduction efforts among students through programmes at educational institutions in Madhya Pradesh. Sessions addressed the harmful effects of substance abuse on physical and mental health, education, family life and careers, supported by interactive learning activities. Participants were encouraged to avoid drugs, adopt healthy lifestyles, take pledges and support awareness initiatives in their schools, families and communities. Preventive education and youth engagement complement enforcement-oriented work through informed choices and community-based resistance to substance abuse.
October 19, 2026
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Coastal narcotics trafficking enforcement addresses suspected maritime methamphetamine smuggling through seizure, asset recovery, and arrests under drug-control law.
Intelligence-led narcotics enforcement addressed suspected coastal storage and maritime transfer of methamphetamine to Sri Lanka. Searches recovered crystal methamphetamine concealed in foil packets within duffel bags, which was seized under the Narcotic Drugs and Psychotropic Substances Act, 1985. Searches also recovered suspected drug-sale proceeds and vehicles allegedly used in transportation. Persons allegedly involved in organising coastal export, transport, storage and logistics were arrested and remanded to judicial custody.
October 17, 2026
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Centralised audit framework targets lower physical branch audit coverage while preserving regulatory oversight and maintaining remuneration.
For FY 2026-27, audit remuneration is to remain at existing levels. Member banks are advised to accelerate a centralised audit framework to improve cost efficiency while retaining comprehensive risk oversight. Physical statutory branch audit coverage should be reduced to cover 50% of total business, apart from centralised treasury audits. Audit coverage must align with SEBI listing and disclosure requirements and RBI guidelines, supported by a Board-approved policy for the centralised audit roadmap.
October 17, 2026
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Promissory estoppel cannot prevent Government shareholding dilution where enacted legislation imposes no restriction on strategic disinvestment.
Government shareholding in IDBI may be reduced or divested because the IDBI (Repeal) Act, 2003 contains no restriction on dilution of the Government's stake. A proposed amendment to limit dilution was rejected and not incorporated into the enacted law. Parliamentary statements cannot override statutory text, and promissory estoppel cannot be invoked on the basis of legislative debate statements to prevent dilution of Government shareholding. Successive Union Budget speeches also reflected a policy of transformation and strategic disinvestment of IDBI Bank.
October 16, 2026
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Recipient-generated e-invoicing under reverse charge enables eligible taxpayers to obtain IRNs for domestic unregistered supplies and imported services.
Eligible active registered recipients meeting the applicable aggregate annual turnover threshold may report recipient-generated self-invoices for specified reverse-charge domestic supplies from unregistered persons and imports of services. RCMDOM and RCMIMP must be selected as the relevant e-invoice supply types when reporting through an authorised Invoice Registration Portal. Submission and validation of prescribed invoice particulars would generate an Invoice Reference Number, subject to applicable GST provisions, notifications and e-invoice specifications.
October 16, 2026
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Reservation Policy Implementation in public financial institutions was examined through capacity building, practical deliberations, and measures for consistent application.
Implementation of the Government of India's Reservation Policy across public sector banks, public sector insurance companies, sectoral regulators and public financial institutions was addressed through capacity building to support uniform and effective application. Deliberations considered practical implementation issues, operational challenges and actionable measures for consistent policy application, alongside related welfare measures and interactive discussion of implementation questions.
October 16, 2026
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Organic agricultural export certification supports overseas market access for Palmyra Jaggery Powder through export-oriented producer linkages.
APEDA facilitated the maiden sea export of NPOP- and EU-certified organic Palmyra Jaggery Powder from Tamil Nadu to Bulgaria. The initiative seeks to diversify India's organic export basket, create market linkages for traditional Palmyra-based products, and improve producer access through export-oriented value chains. It covers organic cultivation and reports improved price realisation for participating farmers and the manufacturer compared with the domestic market. APEDA supports certified organic and value-added agricultural exports through market development, quality compliance, and overseas buyer linkages.
October 16, 2026
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Data-driven trade governance enables integrated monitoring, application analysis and evidence-based policy inputs through the National Strategic Trade Command Centre.
The National Strategic Trade Command Centre provides an integrated analytics and visualisation platform consolidating trade data to monitor trade indicators, scheme performance, application pendency, processing timelines, regional trends and compliance-related parameters. It enables analysis across national trade performance, Regional Authorities, schemes, products, destination markets and individual applications, subject to role-based access permissions. Initial dashboards cover key trade-facilitation and regulatory processes, including SCOMET, export promotion schemes, certificates of origin, importer-exporter registration and restricted imports and exports.
October 16, 2026
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Private capital mobilisation should use competitive financing, guarantees and risk mitigation to expand productive employment and productivity.
Private capital mobilisation is treated as essential to employment generation and productivity growth. Private enterprises, MSMEs and startups should remain central to job creation, with financing assessed by employment and productivity outcomes rather than volume. Guarantees, risk-mitigation instruments, local-currency financing and lower transaction costs are identified as means to expand affordable and predictable access to capital. Methodologies underlying governance indicators should be transparent, objective, evidence-based and responsive to diverse development experiences.
October 16, 2026
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Narcotics smuggling through misdeclared air cargo triggered seizure, arrest, and ongoing investigation into concealed hydroponic weed imports.
A Bangkok-origin air-cargo consignment declared as PU Tubes was examined on suspicion of mis-declaration. Plastic spools were found to contain concealed cavities holding polythene-wrapped packets of compacted green substance, preliminarily identified as suspected ganja/marijuana and described as hydroponic weed. The concealed substance, packaging and concealment material were seized under the NDPS Act, 1985. One person was arrested, and follow-up searches produced leads for continuing investigation.
October 16, 2026
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Unaccompanied baggage gold smuggling: concealed hardware and insider coordination triggered interception, seizure, and arrests under customs law.
Foreign-origin gold smuggling through the unaccompanied baggage channel involved concealment of gold within hardware items and coordinated retrieval through warehouse personnel and intermediaries. Intelligence-led interception resulted in recovery and seizure of foreign-origin gold concealed in a floor spring, metal locks, a grease gun and a door closer. The arrangement used a trolley secured by a pre-decided number-lock combination, with a warehouse staff member, mediator and receiver allegedly involved in delivery of the concealed gold.
October 16, 2026
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Opium cultivation licensing grievance redressal advances through public hearings, administrative remedies, policy recording, and a planned cultivator helpline.
Opium cultivation licensing grievances were addressed through a public hearing where cultivators raised irrigation, climatic, single-plot licensing, and village-wise allocation concerns. Participants were informed of available legal provisions and administrative remedies. Requests for more licences and larger cultivation plots were considered, with policy matters recorded. A helpline is intended to assist cultivators during the 2026-27 licensing operation.
October 16, 2026
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Illicit cannabis cultivation: crop destruction followed legal formalities, while investigation continues in a remote wildlife sanctuary.
Illicit cannabis cultivation was located by a joint DRI and CBN team across five stretches of remote, densely forested wildlife-sanctuary land near village Jamniapani, Shirpur, District Dhule, Maharashtra. The cultivation covered 2.87 hectares. Following requisite legal formalities, the cannabis crop was destroyed using a rotavator in the presence of Police and Forest Department officials. Investigation remains in progress.
October 15, 2026
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Merchandise and services trade estimates show export growth, import expansion, and a wider combined trade deficit over the reporting period.
Combined trade estimates for April-September 2026-27 show exports of US$ 476.20 billion and imports of US$ 551.13 billion, resulting in a trade deficit of US$ 74.93 billion. Merchandise exports rose to US$ 259.89 billion, while merchandise imports reached US$ 437.53 billion. Estimated services exports were US$ 216.31 billion and services imports were US$ 113.60 billion, producing a services trade surplus of US$ 102.71 billion. September services figures are estimates, and specified earlier-period data were revised using quarterly balance-of-payments data.
October 15, 2026
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Emerging technology skills and resilient supply chains are positioned as foundations for investment competitiveness and inclusive economic growth.
Ministerial policy priorities for India's trade, investment and technology agenda emphasise artificial intelligence, cybersecurity, technology adoption, manufacturing investment and lifelong skill development. Investment competitiveness is linked to political stability, resilient supply chains, and fair and transparent trading practices. The first tranche of a bilateral trade agreement with the United States has been finalised, while final contours and legal drafting continue before operationalisation.
October 14, 2026
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Majority stake acquisition in the jewellery sector receives competition clearance for GRT Jewellers' purchase of Tribhovandas Bhimji Zaveri.
Competition Commission of India approved GRT Jewellers (India) Private Limited's proposed acquisition of a majority stake in Tribhovandas Bhimji Zaveri Limited. The transaction concerns entities operating in the Indian gems and jewellery market, including a private limited acquirer and a publicly listed target engaged in manufacturing and sale of gems and jewellery.
October 14, 2026
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Minority shareholding acquisition in mother and baby healthcare receives competition clearance for a private equity-backed investment.
Competition Commission of India clearance authorises NuageLux BidCo S.a r.l. to acquire approximately 23% of the fully diluted shareholding in Kids Clinic India Ltd. The transaction constitutes an acquisition of a minority equity interest in a healthcare provider operating under the Cloudnine brand. NuageLux BidCo is a Luxembourg-incorporated private limited special purpose vehicle, ultimately controlled by Permira Holdings Ltd.

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Customs & Trade

India joins US-led 'Pax Silica' alliance to bolster AI and critical minerals supply chains

February 20, 2026

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New Delhi, Feb 20 (PTI) India on Friday joined the US-led strategic alliance called 'Pax Silica' that aims to build a resilient supply chain for critical minerals and artificial intelligence with both sides projecting it as an initiative to cut over-dependence on one country, seen as an oblique apparent reference to China.

US Under Secretary for Economic Affairs Jacob Helberg, welcoming India to the coalition, flagged challenges arising out of "massively over-concentrated" supply chains for critical minerals and "threats of economic coercion and blackmail".

Though Helberg didn't name any country, it was almost clear that his remarks were directed at China's export controls on rare earth minerals and related products.

China has been controlling the flow of rare earth minerals which have a wide range of applications including in electronics, clean energy, aerospace, automotive, and defence sectors.

US Ambassador Sergio Gor, welcoming India to Pax-Silica, said the country brings strength to the coalition.

"Policies that will reinforce US-India tech cooperation will power AI innovation and adoption for years to come. We can share trusted AI technology with the world and especially with partners like India," he said.

"And critically, India brings strength. Peace doesn't come from hoping adversaries will play fair. We all know they won't. Peace comes through strength. India understands this. India understands strong borders," he said.

"India understands this part of the world. That strength, that sovereignty is exactly what Pax-Silica amplifies. Because here's the truth, strength multiplies when it's connected." India signed a pact to formally join the Pax Silica at a ceremony held at the AI Impact summit. It was attended by Union Minister for Electronics and Information Technology Ashwini Vaishnaw, Helberg and Gor.

In his address, Vaishnaw framed the moment as one that transcends a ceremonial signing.

"We are not just holding a summit; we are building the future," he said, emphasising that new foundations and new opportunities are being created for the younger generation.

He underscored India's growing semiconductor capabilities, stating, "Today, India's talented engineers are designing the world's most advanced two-nanometer chips. The semiconductor industry will require around one million new skilled professionals, and this is a very big opportunity for India." New Delhi's decision to join the coalition came amid efforts by both sides to finalise the proposed trade deal and move forward on several other initiatives to solidify bilateral ties after a period of severe strain.

"For too long, we have allowed the foundations of our economic security to drift. We find ourselves grappling with a global supply chain that is massively over-concentrated," Helberg said.

"We watch as our friends and allies face daily threats of economic coercion and blackmail, forced to choose between their sovereignty and their prosperity." Helberg said the US and India are affirming their embrace of a pro-innovation approach to AI and forging a supply chain for a solid foundation for prosperity.

"So today, as we signed the Pax-Silica declaration, we say no to weaponised dependency, and we say no to blackmail. And together, we say that economic security is national security.

"But we must be precise about what that word means. There are some who use the words like global governance and sovereignty in the same breath, just like Orwell used," he said.

The senior Trump administration official added: "We are building a new architecture that diffuses intelligence, placing the awesome power of AI into the palm of our people's hands and unleashing a wave of unprecedented possibility." In his remarks, Gor said Pax-Silica will define the 21st century economic and technological order and said India will play a key role in the new initiative.

"India's entry into Pax-Silica isn't just symbolic. It's strategic. It's essential. India is a nation with deep talent, deep enough to rival challengers," he said.

"India's engineering depth offers critical capabilities for this vital coalition. In addition to talent, India has made important strides towards critical mineral processing capacity, and that's something that we're fully engaged on also," he said.

The US ambassador also spoke about the "limitless potential" for cooperation between India and the US.

"From the trade deal to Pax-Silica to defence cooperation, the potential for our two nations to work together is truly limitless. And I aim to fulfill that over the next three years that I'm here," he said.

Gor also made a mention of the proposed India-US trade pact.

"Earlier this month, we concluded the interim trade agreement, a deal that shapes the economic contours of the Indo-Pacific. We overcame friction points that had held us back for far too long," he said.

"That agreement wasn't just about trade flows or tariff schedules. It was about two great democracies saying we will build together, not just buy from one another. And now today, we take the next step," he said.

The US envoy described Pax-Silica as a "coalition of capabilities" that replaces "coercive dependencies with a positive sum alliance of trusted industrial bases." "We welcome India joining to co-found the future. Pax Silica is about whether free societies and it will control the commanding heights of the global economy," he said.

"It's about whether innovation happens in Bengaluru and Silicon Valley or in surveillance states that use technology to monitor and control their people. We choose freedom. We choose partnership. We choose strength. And today, with India's entry into Pax Silica, we choose to win," he added.

Pax Silica was launched in December to build a secure, resilient, and innovation-driven supply chain for critical minerals and artificial intelligence (AI).

The Pax Silica Summit was held in Washington on December 12 where partner nations signed the Pax Silica declaration.

The declaration lays out a shared vision of deep economic and technology cooperation across supply chains -- from raw materials through semiconductors and AI infrastructure -- and commitment to mutual prosperity and security.

The member nations of the Pax Silica included Australia, Greece, Israel, Japan, Qatar, Republic of Korea, Singapore, the United Arab Emirates and the United Kingdom.

Gor last month announced an invitation to New Delhi to join the strategic alliance.

One of the key pillars of Pax Silica was to establish a durable economic order to drive AI-powered prosperity across partner nations. PTI MPB ZMN

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