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    Sensex rebounds 316 pts, Nifty ends above 25,550; banks, metal stocks lead recovery
    India's forex kitty jumps USD 8.66 bn to record USD 725.72 bn
    India joins US-led 'Pax Silica' alliance to bolster AI and critical minerals supply chains
    Union Minister of Commerce and Industry Shri Piyush Goyal Launches Export Promotion Mission to Boost MSME Exports and Strengthen Global Competitivenes...
    Production Linked Incentive Scheme with ₹1.91 Lakh Crore Outlay Drives Strong Industry Participation Across 14 Strategic Sectors
    India-US interim trade pact likely to be operationalised in April, says commerce minister
    Officials of India and US to begin 3-day meet on Feb 23 to finalise legal text for interim trade pact
    When Investor Safety Meets Street Culture: NSDL Activation Draws Attention in Delhi
    GCCs to drive up to 50% of India office demand; US to dominate while UK & EU to gain share- says Colliers India
    Attention : Update on Advisory on Interest Collection and Related Enhancements in GSTR-3B
    Indian-origin lettings boss who wanted to run for London Mayor guilty of fraud
    Trump pushes trade, defence ties with B'desh as he congratulates new PM Rahman
    J&K govt initiates liquidation of SCARD bank, assures protection of depositors’ interests: Dar
    Access pass for fishing in country's EEZ to be launched in Gujarat's Veraval
    Gujarat's debt rises to Rs 3.99 lakh cr in 2024-25 as per revised estimates: Desai in assembly
    US trade deficit slipped to USD 901 billion last year amid Trump tariffs
    Tata Group working on building AI chips, says Chairman N Chandrasekaran
    AccessifyLabs Appoints Abin Roy Choudhury as Chief Executive Officer to Accelerate Global Expansion and Enterprise Accessibility Leadership
    Proposed India-US trade deal compromises India’s sovereignty, farmers' interests: Sachin Pilot
    Cristiano Ronaldo Invests $7.5 Million in Herbalife's Pro2col™ Technology, Acquires 10% Equity Stake
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February 20, 2026
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Market rebound driven by banking and metal stock buying as trade deal signals and supply chain shifts lift sentiment.
Equity markets rebounded with strong buying in large-cap banking and metal stocks restoring benchmark indices to positive territory after a sharp correction. Broad sector participation favored Power, PSU Banks, Utilities, Capital Goods and Metals, while IT lagged. Sentiment was supported by trade-agreement signals and India's participation in Pax Silica, enhancing supply chain security for AI and semiconductors, even as elevated volatility and recent institutional net selling influenced near-term flow-driven moves.
February 20, 2026
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Foreign exchange reserves rise to record level after gains in foreign currency assets and gold, RBI data shows
India's foreign exchange reserves rose to USD 725.727 billion in the week ended February 13, driven by increases in foreign currency assets (up USD 3.55 billion to USD 573.603 billion) and gold reserves (up USD 4.99 billion to USD 128.466 billion); SDRs increased by USD 103 million to USD 18.924 billion and the IMF reserve position rose by USD 19 million to USD 4.734 billion, with dollar reporting reflecting valuation effects of non US currency movements.
February 20, 2026
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Supply chain security for critical minerals and AI strengthened as partners commit to trusted, diversified industrial cooperation.
India joined Pax Silica to build a resilient, trusted supply chain for critical minerals and AI, addressing over concentration and risks of economic coercion. The declaration commits partners to coordinated cooperation across the value chain-from raw materials and mineral processing through semiconductors and AI infrastructure-emphasising diversification, trusted industrial bases, workforce development, and a pro innovation approach that treats economic security as national security.
February 20, 2026
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Export Promotion Mission expands MSME trade support with export factoring, e commerce credit and compliance facilitation.
The Export Promotion Mission deploys coordinated financial and ecosystem measures-under Niryat Protsahan and Niryat Disha-to strengthen MSME export competitiveness by reducing cost of capital, diversifying trade finance through export factoring and structured e commerce credit with interest subvention and partial guarantees, and by enhancing compliance capabilities, overseas warehousing, logistics reimbursements and trade intelligence to facilitate market entry and integration.
February 20, 2026
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Production Linked Incentive scheme links incentives to incremental domestic production, deepening localisation and strengthening manufacturing competitiveness.
The Production Linked Incentive (PLI) Scheme links financial incentives to incremental domestic production over a defined base year, incentivising scale, technology adoption and domestic value addition across 14 strategic sectors. Operative approvals and performance metrics channel payments to approved applicants to deepen localisation, expand manufacturing capacity and integrate with global value chains; reported outcomes as of 31 December 2025 include 836 approved applications, cumulative rises in investment, production, exports, employment and disbursed incentives.
February 20, 2026
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Interim India-US trade agreement likely operationalised in April after legal-text finalisation meeting, with related FTAs scheduled for implementation.
An interim trade agreement between India and the United States is expected to be signed in March and made operational in April after officials finalise the legal text; FTAs with the United Kingdom and Oman are likely to be implemented in April and a pact with New Zealand in September.
February 20, 2026
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Interim trade agreement legal text to be finalised, codifying reciprocal tariff concessions and paving way for signature.
A three-day bilateral meeting will finalise the legal text converting the previously agreed framework into an interim trade agreement to be signed by the two governments; the agreement will codify reciprocal duty concessions and specific tariff adjustments, with the Indian negotiating team led by the chief negotiator.
February 20, 2026
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Investor verification: public SEBI Check awareness activation promotes verification-first behaviour to reduce fraud and strengthen investor protection.
SEBI Check is a verification mechanism to confirm whether market entities are registered with the regulator, aimed at reducing impersonation and unregistered advisory fraud by promoting verification before investing. NSDL has advanced this objective through behavioural investor education-digital content, transit-led campaigns, and on-ground activations-culminating in a flash mob at Priya High Street that reinforced the green triangle thumbs-up symbol as a trust marker and used public-space storytelling to drive symbol recall and verification-first behaviour.
February 20, 2026
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Trade agreements to reduce market barriers, spurring GCC expansion and materially boosting Grade A office demand in India.
Bilateral trade agreements with major partners are expected to reduce market barriers and tariffs, incentivizing multinational firms to expand India-based GCCs into higher value functions and thereby materially increase Grade A office demand across the top seven Indian markets; Colliers projects GCCs could account for a substantial share of future leasing while noting that benefits depend on finalisation and implementation of agreement details.
February 20, 2026
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Interest computation in GSTR-3B updated; portal auto-populates minimum interest and permits CGST/SGST ITC for IGST liabilities.
From January-2026 the portal revises interest computation in GSTR-3B table 5.1 to deduct the minimum cash balance in the Electronic Cash Ledger from net tax liability for interest calculation; the computed interest is auto-populated as a non-editable minimum and taxpayers must self-assess upward if necessary. The portal will auto-populate the Tax Liability Breakup from GSTR-1/GSTR-1A/IFF document dates for prior-period supplies discharged in the current period, and once IGST ITC is exhausted allows use of CGST and SGST ITC in any sequence in Table 6.1. Interest on late final returns for cancelled taxpayers will be collected via GSTR-10.
February 19, 2026
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Fraud in anticipation of winding-up: director diverted company funds after loss of control, now facing criminal and confiscation proceedings.
A director was convicted of fraud in anticipation of winding-up after transferring the company's bank funds to his personal account following appointment of a Law of Property Act receiver and the transfer of the company's assets and sole share to that Receiver. The jury rejected his claimed belief in entitlement to the funds. The Insolvency Service is pursuing confiscation under proceeds legislation, and the director remains disqualified with an indefinite suspension of bankruptcy discharge for noncooperation with the Official Receiver.
February 19, 2026
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Trade agreement obligations require tariff cuts, import and defence commitments, triggering transparency and sovereignty concerns.
The bilateral package imposes binding commercial and defence commitments requiring tariff reductions, duty-free access for specified exports, mandated imports of US agricultural and energy commodities, and increased purchases of US military hardware while limiting procurement from certain other countries. The deals were negotiated under a Non-Disclosure Agreement, and commentators question whether an unelected interim government had authority to conclude secretive, long-term obligations without parliamentary oversight, raising transparency, fiscal stability, and sovereignty concerns.
February 19, 2026
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Liquidation of cooperative bank initiated; depositors' claims to be settled under statutory priority after KYC verification and phased settlement.
Liquidation proceedings for SCARD Bank Ltd have been initiated under the Cooperative Societies Act due to accumulated losses, weak governance, poor loan recovery and liquidity pressures; the bank is not registered under the Banking Regulation Act and thus lies outside RBI purview. A comprehensive KYC verification of claims is complete and, following a winding-up order and appointment of liquidators, duly verified depositor claims will be settled in phased manner strictly pursuant to statutory provisions and the prescribed order of priority. Deposit insurance and credit guarantee mechanisms do not apply; the government has compiled depositor liability projections and may consider budgetary provisioning.
February 19, 2026
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EEZ access pass allows regulated offshore fishing with traceability and sustainability safeguards to support seafood export competitiveness.
An access pass framework regulates organised fishing in India's Exclusive Economic Zone, establishing entry conditions, monitoring, compliance, and traceability standards under the Sustainable Harnessing of Fisheries in the EEZ Rules, 2025, to enable responsible offshore harvesting, empower fishing communities and support seafood export competitiveness.
February 19, 2026
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Public debt increase signals higher state debt servicing obligations under revised estimates and disclosed budget figures.
Gujarat's revised estimates for 2024-25 show total public debt rising from Rs 3,52,718 crore in 2023-24 to Rs 3,99,633 crore, with interest payments and principal repayments disclosed as Rs 24,964 crore and Rs 26,136 crore for 2023-24, and Rs 25,945 crore and Rs 29,086 crore respectively for 2024-25; these figures were tabled in the state assembly alongside the 2026-27 Budget presentation.
February 19, 2026
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Tariffs on imports reshape trade incentives and pricing, prompting import timing and affecting customs revenues and consumer prices.
Presidentially imposed tariffs function as a tax on US importers often passed to consumers, shift commercial incentives by prompting import timing to avoid higher duties, and can be used to protect domestic industry and raise Treasury revenue; these effects influence trade flows, customs liabilities, and have produced only a muted aggregate inflationary impact while contributing to observed annual changes in the goods-and-services trade gap.
February 19, 2026
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Industry-specific AI chips drive Tata's semiconductor and AI infrastructure expansion through strategic partnerships and vertical solutions.
Tata Group is pursuing industry-specific AI chips and an industrial AI operating system while expanding semiconductor fabrication and packaging capacity, data centre AI hosting, and strategic partnerships to enable vertical AI solutions, with initial chip efforts focused on automotive applications.
February 19, 2026
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Digital accessibility compliance elevated to enterprise governance, integrating audits, remediation, documentation and continuous monitoring.
Digital accessibility is framed as an enterprise compliance and governance requirement to be embedded in procurement, engineering and risk management frameworks, aligned to standards such as WCAG 2.2, ADA, and Section 508. The firm proposes a combined advisory and technology approach - expert audits, VPAT/ACR documentation, remediation advisory, automation, developer enablement, and continuous monitoring - to convert regulatory obligations into operational discipline, procurement readiness, and managed accessibility risk across regulated sectors.
February 19, 2026
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Sovereignty concerns over trade pact: alleged compromise of farmers, regulatory protections and energy procurement autonomy.
The proposed India-US framework is alleged to compromise sovereignty and economic self reliance by opening India's agricultural market to zero duty US farm and food products, permitting duty free imports of specified processed grains, oils and cotton that threaten domestic producers, and by requiring removal of non tariff barriers which could erode subsidies, regulatory protections and seed biodiversity; it is also said to constrain energy security by limiting procurement autonomy and imposing large bilateral purchase commitments.
February 19, 2026
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Equity investment creates a minority ownership stake and strategic partnership, with regulatory and privacy forward looking disclosures.
Cristiano Ronaldo acquired a 10% equity interest in HBL Pro2col Software, LLC, accompanying an investment and a commitment of services and sponsorship rights to support Herbalife's Pro2col personalized health platform; Herbalife has begun a phased beta rollout and frames the initiative within forward looking statements that identify regulatory, data protection, AI governance, FTC consent order compliance, international operating, tax, intellectual property, cybersecurity and other business risks.

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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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