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    US futures, bitcoin fall, Asian markets mixed after Supreme Court nixes Trump's tariffs
    Stock markets trade higher in early session tracking rally in Asian peers
    INDEX OF EIGHT CORE INDUSTRIES (BASE YEAR: 2011-12=100) FOR JANUARY, 2026.
    Rupee rises 21 paise to 90.73 against the US dollar in early trade
    US futures fall while Asian markets are mostly higher after the Supreme Court nixes Trump's tariffs
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    'Don't share OTP, Aadhaar, bank details': PM Modi's tips on combating digital fraud
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February 23, 2026
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Tariff authority curtailed, prompting mixed market moves and heightened regulatory uncertainty across trade, crypto, and commodities.
The cancellation of broad presidential import levies removed a central trade policy instrument and prompted immediate market adjustments: equity futures fell, Asian indices were mixed, bitcoin dropped sharply, and precious metals rose. The incumbent plans alternative measures, including a global tariff via executive order and Commerce Department investigations, leaving trade policy and market expectations uncertain while growth, inflation, and corporate guidance continue to influence volatility.
February 23, 2026
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Illegality of presidential tariffs undermines executive tariff authority, prompting legal challenges and reshaping trade negotiation dynamics.
The judicial invalidation of the presidential tariff program undercuts executive unilateral tariff authority and invites legal challenges to successor emergency tariff measures, prompting reassessment of trade negotiations and reliance on discretionary tariffs without concrete balance of payments predicates.
February 23, 2026
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Index of Eight Core Industries shows overall growth, with cement and steel leading while oil and gas sectors decline.
The combined Index of Eight Core Industries rose provisionally by 4.0 per cent year on year in January 2026, with Cement, Steel, Electricity, Fertilizers and Coal recording positive monthly growth while Crude Oil and Natural Gas declined and Refinery Products remained unchanged. The cumulative April-January 2025-26 growth is reported as 2.8 per cent (provisional). The release provides industry weights, monthly and annual indices, notes that January data are provisional and December data final, and explains methodological inclusions and revision practice.
February 23, 2026
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Foreign exchange volatility: rupee strengthened after oil-led dollar weakness, while reserve gains and capital flows shape market risk.
The rupee strengthened in early trade due to lower global crude prices and a softer dollar amid tariff-related uncertainty, aided by a strong equity opening; persistent dollar-buying sentiment and foreign institutional outflows could reintroduce selling pressure. The Reserve Bank of India's rise in foreign exchange reserves to a record level is a material macroprudential indicator affecting market liquidity and perceived intervention capacity under FEMA and central bank reserve management frameworks.
February 23, 2026
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Supreme Court rejection of sweeping tariffs reshapes import-tax authority and prompts pursuit of alternative tariff mechanisms.
The Supreme Court struck down the majority of the President's broad import tariffs, prompting varied market reactions as investors repriced winners and losers; the administration announced alternative measures including an executive-order global tariff and use of Commerce Department trade-investigation authorities, preserving the prospect of import taxation while altering statutory mechanism and temporal limits.
February 22, 2026
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Sovereignty concerns over Indo US trade agreement; alleged tariff and procurement conditions threaten national, energy and data autonomy.
Allegations that an interim trade arrangement with the United States compromises national sovereignty and domestic interests by conceding tariff advantages and large import commitments, harming agriculture and industry. The pact is criticized for limiting energy procurement choices and creating dependency by discouraging purchases from alternative suppliers, thereby threatening energy security and raising inflationary pressure. Concerns also focus on obligations affecting data sovereignty, which are said to risk exposing sensitive data to foreign access.
February 22, 2026
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Trade commitments: EU urges US to honour agreed tariff ceiling and warns of anti-coercion countermeasures and uncertainty.
EU urges the United States to adhere to the trans Atlantic trade agreement and not exceed the agreed tariff ceiling, warning that unpredictable tariff changes harm trade stability and supply chains. The EU noted it may pause ratification and could deploy its Anti Coercion Instrument-permitting trade and investment restrictions, exclusions from public tenders, and limits on foreign direct investment-to defend its interests if commitments are not honoured.
February 22, 2026
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EU-India free trade agreement expands trade and AI cooperation and strengthens supply chain resilience pending final ratification.
The EU India Free Trade Agreement substantially liberalises tariffs across the majority of bilateral trade to expand market access, while prioritising cooperation on human centred artificial intelligence and promoting interdependent, resilient supply chains; the agreement is subject to final legal vetting and ratification before implementation.
February 22, 2026
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Digital fraud prevention: protect accounts by not sharing OTP or Aadhaar and using authorised re KYC channels.
Individuals must not share OTP, Aadhaar numbers, or bank account details and should change passwords regularly. KYC and re KYC are security measures that must be undertaken only via bank branches, official apps, or authorised platforms because criminals use fake calls, SMS and links to compromise accounts.
February 22, 2026
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PMLA enforcement targets accelerate investigations and timely prosecution filings, urging probes to finish within a short defined timeframe.
The Enforcement Directorate directed acceleration of PMLA prosecutions by increasing prosecution filings and concluding most investigations within one to two years, except in complex cases. Officers must exercise PMLA powers with caution, ensure legally sustainable attachments and penalties, and issue notices judiciously. Operational priorities include tracing illicit assets abroad, targeting misuse of trade channels and insolvency processes for laundering, prioritising digital arrest and cyber fraud work, checking illegal online gaming and share market manipulation, leveraging MLATs, Interpol and extradition, and completing pending FERA adjudications while addressing manpower, cooperation and valuation challenges.
February 22, 2026
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Trade tariffs altered by recent court ruling disrupt interim trade agreement negotiations and prompt rescheduling of chief negotiators' meeting.
The meeting of chief negotiators was postponed to permit assessment of a court ruling limiting executive tariff authority and subsequent US tariff adjustments, which have introduced uncertainty into agreed concessions under the interim trade framework. The framework must be converted into a legal instrument, but finalisation of the legal text and implementation timelines are deferred pending clarification of how additional US tariff layers will interact with existing Most Favoured Nation duties and the ultimate tariff treatment for the partner country.
February 22, 2026
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Data privacy: Appeals on platform data sharing penalty and consent safeguards to be heard, with government party added.
Appeals challenge a CCI penalty and limits on platform data sharing under privacy and competition law; an appellate tribunal removed a ban on advertising related data sharing but retained the penalty. The dispute centers on consent standards, protection of dependent or unaware users, and whether platform data aggregation creates market dominance. Procedural issues include interim directions, inclusion of the technology ministry as a party, and a cross appeal by the regulator against the tribunal's narrowing of remedies.
February 22, 2026
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Congressional authority over tariffs affirmed, but executive invoked temporary trade statute to impose new global import tax.
A majority of justices held that the power to levy tariffs is vested in Congress, voiding a major part of the presidential global tariff program; the President then invoked the Trade Act's temporary emergency authority to impose a new short-term global import tax, a provision never previously used this way, raising questions about the statute's reach and prompting political fallout, calls for consumer refunds, and intensified partisan divisions over trade policy.
February 21, 2026
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Tariff authority: President seeks to impose a higher global tariff using alternate legal powers after court rebuke.
The President seeks to impose a higher global tariff relying on alternative executive authority and statutory avenues requiring Commerce Department investigations, while a separate executive order established a temporary import tax limited in duration and contingent on legislative extension; this raises constitutional questions about the allocation of tariff-setting and taxation powers and uncertainty over funds already collected.
February 21, 2026
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Presidential tariff authority raised a temporary global import surcharge, altering trade deal dynamics and exemptions for critical goods.
The executive invoked trade act authority to impose a temporary global import surcharge, increasing a recently announced ad valorem levy and reserving the right to issue further legally permissible tariffs within a 150 day period; the proclamation excludes specified critical minerals, energy products, select agricultural goods, pharmaceuticals, certain electronics, passenger vehicles and aerospace products, and the surcharge is applied in addition to existing Most Favoured Nation import duties, affecting ongoing bilateral trade negotiations.
February 21, 2026
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Criminal breach of trust: bail denied due to complex fund diversion, risk of evidence tampering and undisclosed antecedents.
Refusal of bail rested on prima facie findings that the NBFC owner-director engaged in calculated, layered diversion of investor funds amounting to criminal breach of trust; investigation remained at a nascent stage with a complex money trail requiring forensic analysis and a real risk of evidence tampering, compounded by the applicant's non-disclosure of prior criminal antecedents and insufficient medical justification.
February 21, 2026
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Presidential authority on emergency economic powers challenged; administration announces higher worldwide import levies pending new tariff rules.
President announced an immediate increase in the worldwide import surcharge to a higher legally framed rate and stated the administration will determine new legally permissible tariffs; this follows a Supreme Court decision holding that reliance on IEEPA to impose sweeping duties exceeded presidential authority and has affected bilateral tariff arrangements under an interim trade framework with India.
February 21, 2026
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Presidential tariff authority to impose global import taxes expanded via executive order, with temporary duration and statutory investigations.
The President announced an increase in a global import tariff implemented by an executive order designed to bypass ordinary congressional action and operate for a limited temporary period unless extended by legislation; concurrently, the administration is pursuing additional tariff measures under federal statutes that require Commerce Department investigations and administrative determinations.
February 21, 2026
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Presidential tariff authority contested; executive order raises global import tariff after review of recent legal limitation.
After a judicial ruling that his emergency powers did not authorize sweeping tariffs, the President signed an executive order bypassing Congress to impose a temporary global import tax limited to 150 days unless extended by legislation; following review of the court decision he announced an upward adjustment to the proposed global tariff rate.
February 21, 2026
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Reciprocal tariffs: leaders agree to study implications and adopt a wait-and-watch approach while boosting strategic trade ties.
Discussion focused on the trade-policy implications of a major US decision affecting reciprocal tariffs, with both leaders adopting a "wait-and-watch" posture to study potential US administrative responses. Parallel measures included a pact on critical minerals to build resilient supply chains, a joint digital partnership declaration, and multiple MoUs covering mining, MSMEs, healthcare, defence maintenance cooperation, and technology and energy collaboration.

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Customs & Trade

Ganesh Housing Hosts Strategic Dialogue on India–UK CETA at Million Minds Tech City SEZ

February 24, 2026

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Seminar positions Ahmedabad at the centre of export-led growth, GCC expansion and next-generation SEZ ecosystems Ahmedabad, 24th Feb 2026: Ganesh Housing Limited hosted a high-level seminar on the India–UK Comprehensive Economic and Trade Agreement (CETA) at its flagship development, Million Minds Tech City SEZ on S.G Highway, Ahmedabad on the 20st February, 2026. Conducted under the guidance of the Ministry of Commerce and Industry, the seminar brought together policymakers, industry leaders and SEZ administrators to assess how the trade agreement could reshape export competitiveness, capital flows and sectoral expansion across Gujarat. The session was chaired by Shri Omprakash Bishnoi, Joint Development Commissioner, SEZ Cluster, Ahmedabad, along with Mr. Aman Mehta, Head – Revenue Department, Ganesh Housing Limited. Discussions focused on the strategic role of Special Economic Zones in accelerating export growth, reducing trade frictions and strengthening India’s integration into global value chains. The technical session was led by Shri Amish Khandhar, Chartered Accountant, KMS Chartered Associates, who outlined the key benefits of the India–UK FTA for Special Economic Zones, including enhanced trade access, reduction in non-tariff barriers, improved export facilitation and long-term growth opportunities for Indian enterprises. Furthermore, special focus was placed on IT/ITES and semiconductor SEZs, reflecting the strategic role of these sectors in India’s evolving global economic engagement.

Commenting on this, Mr. Shekhar Patel, MD & CEO, Ganesh Housing Ltd, said, “For many global companies, the decision to expand into India comes down to three things — stability, compliance and long-term viability. Trade agreements like this strengthen confidence, but the on-ground ecosystem has to match that ambition. Our intent with Million Minds Tech City SEZ is to provide that reliability and scale, especially for technology and GCC-driven businesses looking at Gujarat as a serious base.” Spread across a future-ready campus with some of the largest contiguous office floor plates in the city starting from ~42,000 sq. ft., Million Minds Tech City offers IGBC Platinum-rated sustainable infrastructure, state-of-the-art amenities and a strategic address on S.G. Highway. By facilitating conversations at the intersection of trade policy, global investment and next-generation workspaces at Million Minds Tech City SEZ, Ganesh Housing aims to play a catalytic role in shaping Ahmedabad’s evolution as a competitive commercial and export hub.

As India advances its trade partnerships and recalibrates its export strategy, such industry–government dialogues will play a pivotal role in translating agreements into tangible economic outcomes for enterprises operating on the ground.

About Ganesh Housing Limited Ganesh Housing Limited, headquartered in Ahmedabad, Gujarat, stands as a pioneering force in India's real estate sector with over five decades of excellence. The company made history as one of the first real estate developers to be listed on both the NSE and BSE, demonstrating its commitment to transparency and financial governance.

The company has demonstrated remarkable growth, having completed over 22 million square feet of development. Their diverse portfolio encompasses Grade A+ commercial spaces, luxury residential properties, villas, industrial hubs, and data centers. Their commitment to quality is validated by their ISO 9001:2015 certification. Ganesh Housing’s diverse portfolio also features signature developments such as Magnet Corporate Park , GCP Business Centre, Maple Trade Centre, Sundarban Epitome, Shangrilla Bunglows Series, Maple Series, and Maple Tree Garden Homes, reflecting the company’s commitment to quality, comfort, and value. Beyond real estate, Ganesh Housing is committed to social responsibility through initiatives in education, healthcare, and environmental sustainability, ensuring a positive community impact alongside business growth.

About Million Minds Tech City Ganesh Housing’s flagship project, Million Minds Tech City, represents their most ambitious venture to date. Located at Vaishnodevi Circle in Ahmedabad's Central Business District, this 65-acre integrated township offers 18 million square feet of premier development. Designed by globally acclaimed RSP Architects and managed by international infrastructure leader Tishman Speyer, the project exemplifies modern urban planning. The development allocates 80% to high-end Grade A commercial spaces and 20% to luxury residential offerings, creating a dynamic walk-to-work ecosystem. The project features IT parks, luxury residences, a premium hotel, retail spaces, and over 1.2 million square feet of world-class amenities, including innovative features like floating gardens. The project’s IGBC Platinum certification underscores the company's commitment to sustainable development.

Company Contact: Harpreet Kaur Cheema Mob: 7096359506 [email protected] Media Contact Nandini Gangopadhyay Mob: 9999411204 [email protected] Nishita Chopra Mob: 9969170953 [email protected] (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR

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