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    NBCC moves SC for RERA exemptions to complete 16 stalled Supertech projects
    DFS Hosts PSB Confluence 2026: Day 1 Deliberations focus on Four themes- Deposit Mobilisation, Banking for Youth, Supporting the Investment Cycle and ...
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat': FM
    Rupee falls 19 paise to close at 95.61 against US dollar
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat'
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    DRI uncovers large-scale illegal use of SAFTA agreement in areca imports
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    Colombian president asks Trump to suspend tariffs to help earthquake recovery
    Mission Samudra to be launched alongside Vizhinjam’s EXIM operations
    Europe emerges top destination for India's electric car shipments in Q1
    Govt sets LPG production targets for refiners; Reliance gets largest quota
    PM urges MSMEs to tap opportunities from FTAs
    PM urges farmers to adopt 'chemical-free farming' to tap rising global demand for such food items
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    Need one or two Indian pharma firms to be among global top 5: PM Modi
    Small taxpayers with€™ foreign assets to face 30 pc tax plus penalty; disclosure scheme opens till Dec 31
    PM urges MSMEs to tap opportunities from FTAs
    Govt cuts windfall gains tax on petrol, diesel, ATF exports
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    August 17, 2026
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    RERA compliance exemption for stalled housing projects raises whether statutory obligations may be waived to enable phased project completion.
    RERA compliance exemption is sought for completion of 16 stalled residential projects by a public sector construction entity appointed under a project-completion arrangement. The appellate insolvency tribunal declined to direct a waiver, considering itself incompetent to exempt compliance with statutory provisions. The arrangement requires phased completion, award and commencement of construction work, and oversight through an apex committee and project-wise committees. The projects remain incomplete owing to the developer's financial crisis.
    August 17, 2026
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    Deposit mobilisation and youth banking guide strategies for stronger public financial institutions, investment financing and Global Capability Centre opportunities.
    PSB Confluence 2026 considers strategic priorities for Public Sector Banks and Public Financial Institutions across deposit mobilisation, banking for youth, investment-cycle financing and Global Capability Centres. Discussions seek practical, scalable strategies to strengthen customer engagement, youth-responsive banking propositions, institutional financing capabilities and participation in the expanding Global Capability Centre ecosystem. Youth engagement may use the MY Bharat platform to strengthen links with the formal financial system and awareness of education finance, entrepreneurship, internships and financial-sector careers. Further themes include value-chain infrastructure, priority sector lending and credit card business reform.
    August 17, 2026
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    Banking-sector reform will guide lender capacity, financial stability, inclusion, consumer protection, deposit growth and responsible credit-card expansion.
    Banking-sector reform is proposed through a high-level committee on Banking for Viksit Bharat to review the sector and align it with growth needs while safeguarding financial stability, financial inclusion and consumer protection. Key themes include deposit mobilisation, youth banking, investment support, global capability centres, value-chain infrastructure, credit cards and priority-sector lending. Public-sector banks are expected to improve competitiveness through technology, sectoral expertise, product adaptation and customer-focused deposit growth. Credit-card development must maintain responsible underwriting, customer protection and appropriate risk controls.
    August 17, 2026
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    FCNR(B) concessional swap facility availability narrows to timely mobilised deposits amid rupee depreciation and foreign currency inflow concerns.
    Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.
    August 17, 2026
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    Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
    High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
    August 17, 2026
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    Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
    The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
    August 17, 2026
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    SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
    SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
    August 17, 2026
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    FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
    The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
    August 16, 2026
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    Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
    Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
    August 16, 2026
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    Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
    Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.
    August 16, 2026
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    Electric vehicle export diversification strengthens India's presence across European, Asia-Pacific and Latin American markets through expanding overseas demand.
    India's electric motor car exports expanded sharply in the first quarter of 2026-27, reflecting increased international acceptance and competitiveness of India-manufactured electric vehicles. Europe became the principal export destination, led by Spain and the United Kingdom, with further demand across several European markets. Exports also reached Asia-Pacific markets, Nepal and emerging Latin American destinations. This wider market presence reflects improving quality and safety standards, stronger integration into global electric-vehicle supply chains, and diversification of India's electric-vehicle export profile.
    August 16, 2026
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    LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
    Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
    August 16, 2026
    Show AI Summary
    Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
    Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
    August 15, 2026
    Show AI Summary
    Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
    Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
    August 15, 2026
    Show AI Summary
    Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
    FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
    August 15, 2026
    Show AI Summary
    Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
    Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
    August 15, 2026
    Show AI Summary
    Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
    FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
    August 15, 2026
    Show AI Summary
    Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
    Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
    August 15, 2026
    Show AI Summary
    Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
    Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
    August 15, 2026
    Show AI Summary
    Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
    Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.

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      Central Board of Indirect Taxes and Customs (CBIC) and Permanent Mission of India organise Special Trade Facilitation Sessions at World Trade Organisation in Geneva.

      February 26, 2026

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      Indian Delegation led by Member Customs showcases India’s digital Customs reforms and TFA implementation ahead of India’s Trade Policy Review in July 2026

      India has notified 100% WTO Trade Facilitation Agreement commitments and advances ‘TFA Plus’ measures under National Trade Facilitation Action Plan 3.0

      India highlights indigenously developed digital Customs ecosystem including Single Window Interface, Risk Management System and Authorised Economic Operator Programme

      Digital Customs reforms reduce compliance burden for MSMEs and strengthen India’s integration into global value chains

      CBIC’s Ease of Doing Business reforms for 2026 focus on trusted importer framework, courier export liberalisation and simplified e-commerce export procedures

      Wide participation from delegates of around 40 countries reflects strong global interest in India’s best practices in trade facilitation

      The Central Board of Indirect Taxes and Customs (CBIC), Government of India, along with Permanent Mission of India to the WTO in Geneva, organised special sessions on trade on 24th  February 2026 on the sidelines of the meeting of the Committee on Trade Facilitation at the World Trade Organization (WTO) in Geneva.

      The Special Secretary and Member (Customs), Shri Surjit Bhujabal led the Indian delegation at the CBIC sessions at WTO in Geneva. The event comprised of two focused sessions on Trade Facilitation and Capacity Building highlighting India’s transformative reforms under the WTO Trade Facilitation Agreement (TFA). The programme was also held in the run up to the 8th Trade Policy Review of India, due in July 2026. The event witnessed wide participation from WTO Members and Secretariat, with delegates from around 40 countries, reflecting strong interest in India’s experience and best practices.

      Having achieved compliance with WTO TFA commitments, India has moved towards “TFA Plus” measures under the National Trade Facilitation Action Plan (NTFAP 3.0), aiming to go beyond the minimum requirements and align with evolving global best practices. During the session on Trade Facilitation, Indian Customs delegation highlighted it’s ‘whole-of-government approach’ in Customs reforms, and pioneering efforts in creating a faceless, contactless and paperless Customs ecosystem through extensive digitalization and process re-engineering.

      India has notified 100% of its TFA commitments within the stipulated timelines. The progress reflects India’s sustained commitment to:

      • Enhancing transparency
      • Improving inter-agency coordination, and
      • Simplifying cross-border trade procedures

      The CBIC showcased its advanced and indigenously developed systems as following:

      • Comprehensive Customs Automated System with Single Window Interface
      • A robust Risk Management System (RMS)
      • The Authorised Economic Operator (AEO) Programme
      • Pre-arrival customs processing and Electronic Exchange of Origin Data (EODES)
      • Electronic Cargo Tracking System (ECTS)
      • Network of modern Customs Control Laboratories, and
      • Initiatives on Coordinated Border Management (CBM) and Virtual Trade Corridors (VTC)

      The session on Capacity Building underscored India’s proactive engagement in sharing its expertise with developing and least-developed countries, particularly from the Global South. Through the National Academy of Customs, Indirect Taxes & Narcotics (NACIN), India conducts structured training programmes for officers of Indian and foreign customs administration. The training courses undertaken by Central Revenue Control Laboratory (CRCL) of India for the international participants were highlighted. Both these are recognised by WCO as Regional Training Centre for Asia-Pacific and Regional Customs Laboratory respectively. It was stated that, since 2022, NACIN has conducted 65 trainings and more than 1,800 international participants from around 30 countries were benefited by these initiatives. Several of them were done in collaboration with various international organisations such as WCO, ADB and others. Similarly, CRCL trained more than 300 international participants. India expressed its willingness to partner with countries especially developing countries to strengthen their capacity for implementing trade facilitation Agreement commitments. The participants appreciated the state-of-the-art infrastructure of these institutions and the training offered by the premier institutions of India. 

      The Special Secretary and Member (Customs), Shri Surjit Bhujabal, remarked that India’s digitisation and modernisation of customs procedures over the past decade have contributed meaningfully to trade growth, and deeper integration into global value chains. Indian Customs digital ecosystem connects traders, customs authorities, banks and logistics operators, facilitates electronic processing of customs documentation, leading to reduced transaction costs and faster clearance times. Special emphasis was placed on the role of digital reforms in empowering Micro, Small and Medium Enterprises (MSMEs) by lowering compliance burdens, improving predictability, and enabling greater participation in e-commerce exports. Initiatives such as simplified documentation, advance rulings, and the Authorised Economic Operator (AEO) programme have helped onboard smaller exporters into global trade networks.

      CBIC's Ease of Doing Business (EoDB) reforms for 2026 has renewed focus on digital trade facilitation through single, interconnected digital window for custom clearance and Custom Integrated System and Trust based systems with trusted importers recognised in risk systems, reducing physical verification and enabling factory-to-ship clearance. Key reforms also include removing the ₹10 lakh value cap on courier exports, allowing exporters to ship goods of any value via courier, benefiting MSMEs and e-commerce exporters; the Return to Origin (RTO) for returning unclaimed or uncleared international courier shipments to foreign senders, and a simplified, risk-based customs framework for handling e-commerce export returns.

      The Ambassador and Permanent Representative to the WTO Geneva, Dr Senthil Pandian, stated that India has pursued trade facilitation reforms as a core pillar of its trade policy. According to the UNESCAP Global Survey 2023, India achieved an overall trade facilitation implementation score of over 93 percent, placing it among the leading performers in the Asia-Pacific region and the highest in South Asia. India secured full implementation scores in areas such as TransparencyFormalitiesInstitutional Arrangements and Cooperation, and Paperless Trade. These outcomes reflect sustained efforts to align domestic reforms with the objectives and disciplines of the TFA.

      The event evoked a positive response from the partner countries and reaffirmed the importance of the WTO as a platform for exchange of national experiences and technical cooperation. In the spirit of “Vasudhaiva Kutumbakam” — the world is one family — India reiterated its commitment to strengthening trade facilitation frameworks and building capacities across developing countries.

      ****

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