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    German leader arrives in China to press for fair trade, help ending Ukraine war
    US announces preliminary 126 pc countervailing duty on imports of certain Indian solar goods
    India and Gulf Cooperation Council Sign Joint Statement on the India–GCC Free Trade Agreement.
    India and Israel launch first round of Negotiations for Free Trade Agreement.
    India Building Bridges of Trade, Trust and Transformation; Secures Preferential Access to Two-Thirds of Global Trade: Union Minister of Commerce and I...
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    Attachment under Benami Act can be challenged only before authorities provided under that act: SC
    Trai backs sale of all available spectrum; proposes lower entry barriers, 35 pc cap
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    Reduced RoDTEP rates not applicable to exports of agri, processed food products: Govt
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February 25, 2026
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Fair trade: Germany seeks balanced, regulated economic partnership with China and support for diplomatic resolution in Ukraine.
Germany seeks a fair economic playing field with China by demanding reduced barriers to foreign companies, remedies for systemic overcapacity and export or access restrictions that distort competition, and cooperation to uphold supply-chain stability. The visit also urges Chinese diplomatic assistance to help negotiate a comprehensive, lasting peace in the Russia-Ukraine conflict, linking trade concerns to multilateral crisis resolution.
February 25, 2026
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Countervailing duties on Indian solar imports after preliminary subsidy finding; investigations and anti dumping probes continue.
The United States Department of Commerce issued preliminary affirmative determinations imposing a preliminary countervailing duty on certain Indian crystalline silicon photovoltaic cells and related solar goods, while announcing different preliminary duties on comparable imports from Indonesia and Laos. Commerce noted increased imports of the Indian products, is conducting concurrent anti dumping investigations of solar cells from the three countries, and has scheduled a final determination in the countervailing duty investigations to follow the preliminary findings.
February 25, 2026
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Free trade agreement negotiations between India and GCC launched to deepen trade ties, provide business predictability and boost investment.
A Joint Statement and prior Terms of Reference have initiated negotiations for a comprehensive Free Trade Agreement between India and the GCC to establish a predictable, broad-based trading framework. The Statement emphasises objectives of expanding and diversifying bilateral trade and investment, enhancing market access in identified export and import sectors, and leveraging historical ties and diaspora links. It frames the FTA negotiations as a mechanism to unlock trade potential, strengthen economic integration, and provide predictability for businesses, with specific tariff and regulatory commitments to be determined through negotiations.
February 25, 2026
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Free Trade Agreement negotiations aim to deepen trade and regulatory cooperation between India and Israel.
First round negotiations for an India Israel Free Trade Agreement began under a signed Terms of Reference, with technical sessions on trade in goods and services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, customs procedures and trade facilitation, and intellectual property rights, aiming to provide certainty to businesses, strengthen supply chains and expand bilateral economic cooperation.
February 25, 2026
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Preferential trade access expands through high quality FTAs, enabling broader market access and stronger export competitiveness.
India has expanded preferential trade access through a series of high quality free trade agreements, advancing negotiations with multiple partners including a Gulf Cooperation Council bloc, Israel, Chile and Canada. The government connects FTAs to export growth-citing increased merchandise trade with partners-and is supporting MSME integration via an Export Promotion Mission that improves credit access, reduces costs and assists with compliance. A four point roadmap directs grassroots FTA dissemination, a focus on quality and standards, value chain upgrading, and development of local export ecosystems through industry-MSME partnerships.
February 24, 2026
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Wheat export permission allows limited shipments while preserving domestic food security and protecting farmer returns through set modalities.
The government authorised limited wheat exports while maintaining a general prohibition, subject to a capped export allocation and forthcoming operational modalities. Wheat flour and related products remain largely prohibited except for a separate limited allowance and government to government food security permissions. The policy is justified by assessed higher private and central stocks, projected central pool availability and increased acreage supported by MSP and procurement, with aims to stabilise domestic prices, prevent distress sales, improve liquidity and allow exports without endangering domestic supply.
February 24, 2026
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Product contamination probe: forensic and food safety testing underway after suspected coolant leak linked to renal harm.
No urea traces were detected in milk linked to deaths and hospitalisations; ethylene glycol contamination and a suspected coolant leak from a freezer are under investigation. Recognised food safety, veterinary and forensic laboratories have received milk, product and environmental samples for phased testing; results will determine whether adulteration or accidental contamination occurred. The implicated dairy unit was sealed, the vendor detained, extensive household screening and blood testing conducted, and law enforcement indicated criminal proceedings will follow based on forensic and post mortem findings.
February 24, 2026
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Free Trade Agreement negotiations to advance India-GCC cooperation in energy, trade and investment and strategic ties.
India and the Gulf Cooperation Council have initiated negotiations for a Free Trade Agreement alongside a Joint Action Plan under a Strategic Dialogue to deepen cooperation in energy, trade and investment, agriculture, security, and people to people ties, positioning the FTA as the central instrument to structure and expand economic relations between India and the six member GCC bloc.
February 24, 2026
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RTI disclosure: numerical figures for sports arms imports must be released following a wrongful commercial-confidentiality refusal under the Act.
A trade department withheld calibre-wise quantities of sports arms imports citing commercial-confidence exemption under the Right to Information, yet admitted possession of the numerical data and failed to justify the exemption's application to mere quantities; the commission required a revised, point-wise reply limited to numerical figures while preserving legitimately exempt material.
February 24, 2026
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Challenge to benami attachment must be brought before statutory Benami Act authorities, not insolvency or company-law forums.
Attachment orders under the Prohibition of Benami Property Transactions Act, 1988 can be challenged only before the statutory authorities and appellate mechanisms provided within that Act; insolvency and company-law fora lack jurisdiction to entertain such challenges and resorting to them to circumvent Benami Act procedures amounts to an abuse of process.
February 24, 2026
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Spectrum auction policy recommends selling all available bands, reclaiming insolvent holders' airwaves, and easing entry to boost competition.
Trai recommends auctioning all available IMT spectrum and reclaiming airwaves from providers in insolvency, lowers networth entry thresholds for new entrants while retaining 2024 eligibility conditions, and proposes a uniform spectrum cap to protect competition without forcing operators to surrender existing holdings. It prescribes auction modalities, standard 20 year charge periods (with special 600 MHz incentives including extended validity, a payment moratorium and delayed rollout), excludes the upper 6 GHz band pending trials, and introduces a coverage for discount scheme with mandatory tower sharing and periodic spectrum revaluation.
February 24, 2026
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Deployment of judicial officers to expedite electoral roll claim verification, with document-based verification and supplementary enlistment permitted.
The Court authorised deployment of West Bengal civil judges and requisition of similarly ranked judicial officers from Jharkhand and Odisha to verify claims and objections in the SIR exercise, required minimum experience for deployed civil judges, and made the Election Commission responsible for travel, honorarium and related expenses. Judicial officers must verify documents specified in SIR notifications and judicial orders permitting Aadhaar and Class X certificates; all documents submitted on or before the cut-off date will be considered. Electoral Registration Officers and Assistant Electoral Registration Officers must satisfy judicial officers regarding document authenticity. The EC may publish the final roll and issue supplementary lists, with the Court invoking Article 142 to enlist voters in supplementary rolls.
February 24, 2026
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Consumer credit information access enables customers to view and simulate effects on their credit score within their banking app.
Integration embeds consumer credit information access into the bank's YONO app, enabling authenticated customers to view their CIBIL Score and full report, use report analysis and FAQs, and operate a score simulator to model credit events (opening/closing accounts, late payments, clearing dues, new enquiries) so users can monitor credit health, learn via gamified content, and make more informed borrowing decisions within a secure digital banking interface.
February 24, 2026
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Foreign exchange intervention: central bank actions influence currency stability amid trade-policy uncertainty and oil-driven external pressures.
The rupee modestly weakened amid a stronger dollar, higher global oil prices, and weak domestic equities, with reports of possible Reserve Bank intervention selling foreign currency to prevent the exchange rate breaching a psychologically sensitive level; trade-policy uncertainty and reference to a Supreme Court ruling are noted as additional volatility drivers.
February 24, 2026
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Supplementary demand for additional budgetary grants expands state allocations across energy, industries, water, and social sectors.
The state government presented supplementary demands totalling Rs 11,995.33 crore-Rs 5,748.10 crore on the revenue account and Rs 6,003.79 crore on the capital account-with the largest allocation of Rs 4,066 crore for energy, labour, industries and mining, including Rs 3,262 crore for power and Rs 803 crore for village and small industries, alongside specified departmental requests for water supply and sanitation, planning, rural development, food and civil supplies, revenue and forest, medical education and drugs, and OBC welfare.
February 24, 2026
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Reduced RoDTEP rates not applicable to agri and processed food exports, DGFT clarifies after rate cuts
The reduced rates and value caps under the RoDTEP scheme notified on February 23, 2026, are not applicable to exports of agricultural and processed food products falling under ITC HS Chapters 01-24, the DGFT has clarified, thereby excluding those chapters from the newly prescribed lower rates and caps and preserving their existing RoDTEP treatment.
February 24, 2026
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Market volatility driven by AI disruption and trade-policy shifts rattles investor confidence, boosting chip stocks while pressuring AI-exposed firms.
Market volatility intensified as heavy selling targeted companies seen as losers from rapid AI adoption while AI infrastructure suppliers gained; a research scenario warning of AI-induced erosion of the human-centric consumer economy heightened displacement and deflationary concerns, prompting reallocations toward chip and equipment makers and steep declines for cybersecurity and software firms. Trade-policy rhetoric and tariff measures further amplified uncertainty, producing mixed regional market reactions and notable moves in oil, currencies, and cryptocurrency.
February 24, 2026
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Trade facilitation for SEZs under the India-UK agreement could boost export competitiveness and attract technology investment.
Seminar examined the India-UK Comprehensive Economic and Trade Agreement's effects on Special Economic Zones, highlighting trade facilitation, reduction of non tariff barriers, improved market access for SEZ enterprises, and the role of SEZ infrastructure and governance in converting treaty commitments into export competitiveness and sustained investment-with targeted focus on IT/ITES and semiconductor SEZs.
February 24, 2026
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Financial modernisation drove phased computerisation and regulatory reforms to strengthen banking operations and promote inclusion.
Satyendra Kumar advocated phased computerisation of banking operations as a strategic investment to correct systemic weaknesses in public sector banks, improve transaction processing and fraud prevention, and pave the way for widespread adoption of Core Banking Solutions.
February 24, 2026
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Regulatory directives not always subject to judicial scrutiny; banks may proceed with fraud classification absent clear irreparable harm.
The Master Directions aim to secure public money by enabling early detection, reporting and mitigation of fraud risk, and not every contravention of those Directions is amenable to judicial scrutiny. Banks may engage external auditors or forensic experts and the Directions do not require a mandatory form of forensic report before banks make final decisions. An earlier interim stay on banks classifying accounts as fraud was set aside as procedurally irregular and based on flawed factual and legal assumptions; continuation of proceedings was held not to cause irreparable harm and injunctive relief was inappropriate.

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Customs & Trade

Trump seethes over Supreme Court justices who opposed him on tariffs, especially those he appointed

February 21, 2026

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Washington, Feb 21 (AP) President Donald Trump's vision of the Supreme Court, in which his three appointees are personally loyal to him, collided with the court's view of itself Friday when six justices voted to strike down Trump's signature economic policy — global tariffs imposed under an emergency powers law.

The outcome led Trump to launch an unusually stark personal attack on the justices, with special rancor reserved for the two Trump appointees who defied him.

The case represented a challenge of Trump's many untested, yet forcefully stated imperatives on everything from trade to immigration policy and the court's ability to maintain its independence and, at times, act as a check on presidential authority.

“The Supreme Court's ruling on tariffs is deeply disappointing and I'm ashamed of certain members of the court, absolutely ashamed, for not having the courage to do what's right for the country,” Trump said in the White House briefing room several hours after the court issued its decision, authored by Chief Justice John Roberts.

Trump said he expected as much from the three Democratic appointees on the court. “But you can't knock their loyalty,” he said. “It's one thing you can do with some of our people.” Asked specifically about Justices Neil Gorsuch and Amy Coney Barrett, who were part of the majority, Trump said, “I think it's an embarrassment to their families, if you want to know the truth, the two of them.” Vice President JD Vance, whose wife, Usha, spent a year as a law clerk to Roberts, echoed the president's criticism, though he didn't make it personal. “This is lawlessness from the Court, plain and simple,” Vance wrote on X.

Legal opposition to the tariffs crossed political lines, with a key challenge coming from the libertarian-leaning Liberty Justice Center and support from pro-business groups like the Chamber of Commerce.

Trump has had a checkered history with the court dating back to the start of his first White House term in 2017, though he won his biggest court battle in 2024, a presidential immunity ruling that prevented him from being prosecuted over efforts to undo his 2020 election loss.

In the first year of his second term, he won repeated emergency appeals that allowed him to implement major aspects of his immigration crackdown and other key parts of his agenda.

Presidential criticism of Supreme Court decisions has its own long history. President Thomas Jefferson was critical of the court's landmark Marbury v. Madison case, which established the concept of judicial review of congressional and executive action. President Franklin Roosevelt, frustrated about decisions he thought blunted parts of the New Deal, talked about older justices as infirm and sought to expand the court, a failed effort.

In 2010, President Barack Obama used his State of the Union speech, with several members of the court in attendance, to take aim at the court's just-announced Citizens United decision that helped open the floodgates to independent spending in federal elections. Justice Samuel Alito, who hasn't attended the annual address since, mouthed the words “not true” in response from his seat.

Trump, though, crossed a line in the way he assailed the justices who voted against him, Ed Whelan, a senior fellow at the Ethics and Public Policy Center and a former law clerk for Justice Antonin Scalia, wrote in an email.

“It's entirely fine for a president to criticize a Supreme Court ruling that goes against him. But it's demagogic for President Trump to contend that the justices who voted against him did so because of lack of courage,” Whelan wrote.

Some presidents also have criticized justices they appointed for decisions they've made.

Following the seminal Brown v. Board of Education decision in 1954, President Dwight D. Eisenhower told friends that appointing Chief Justice Earl Warren had been his biggest mistake, according to biographer Stephen E. Ambrose.

Objecting to a dissenting vote in an antitrust case, President Theodore Roosevelt once allegedly said of Justice Oliver Wendell Holmes, wounded in action during the Civil War, that he ”could carve out of a banana a judge with more backbone.” But these remarks were conveyed in private, not at a livestreamed presidential appearance in the White House briefing room.

On a personal level, Trump has had a sometimes tense relationship with Roberts, who has twice issued public rebukes of the president over attacks on federal judges.

Trump didn't mention Roberts by name on Friday, but he seemed to be assailing the chief justice when he said he lost the case because the justices “want to be politically correct,” “catering to a group of people in D.C.” Trump used similar language when he criticized Roberts' vote in 2012 that upheld Obamacare.

Similar to the timing following the Citizens United ruling, the president and some members of the court, dressed in their black robes, are likely to be in the same room Tuesday when Trump delivers his State of the Union address.

Justice Ruth Bader Ginsburg once nodded off during a presidential speech in the House of Representatives, attributing her drowsiness to some fine California wine. No justice is likely to be napping Tuesday night. (AP) MNK MNK

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