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    Oil prices soar and stock prices fall as US-Israel war with Iran rattles markets
    India's manufacturing sector activity growth jumps to 4-month high in Feb: PMI
    Arkel invests RS.100 Cr in Phase 1, Opens Advanced Lift Control Manufacturing Facility
    Two-day Workshop by DFS on Reservation Policy of Government of India and Accessibility for PwDs concludes
    Central Board of Indirect Taxes and Customs (CBIC) introduces deferred Customs Duty payment facility for Eligible Manufacturer Importers as announced ...
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    Haryana records 22 pc growth in gross SGST collection in FY 2025-26, beats all states, UTs
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March 2, 2026
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Oil supply disruption risk drives markets as geopolitical attacks push energy prices up and equities downward.
Attacks on Iran caused equity declines and sharp rises in oil and gold as traders priced in disruption to energy flows through the Strait of Hormuz; sustained interruptions to Iranian exports and regional shipping could tighten global supply, elevate fuel and production costs, affect major importers' sourcing strategies, and influence inflation dynamics and central bank rate decisions.
March 2, 2026
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Manufacturing activity growth driven by stronger domestic demand despite slower export orders, prompting higher input buying and hiring.
Manufacturing activity accelerated to a four-month high as stronger domestic demand supported faster output growth and higher new business intakes; firms increased input purchasing, inventories and hiring. New export orders continued to slow, somewhat constraining employment creation. Cost pressures remained moderate, and forward-looking sentiment was positive with many manufacturers expecting higher output over the year ahead.
March 2, 2026
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Compliance with IS-17900 drives local manufacturing of advanced lift control systems, reducing import dependence and strengthening supply chains.
A Phase 1 manufacturing facility invests in local production of advanced lift electronic control systems designed to comply with IS-17900, reduce import dependency, and enable component to finished product localisation. The plant will operate automated PCB and semi automatic panel lines to produce MR, MRL and Slim Panels, emphasise controlled environment quality, IoT features, and support supply chain resilience and national industrial policy objectives under the Make in India framework.
March 2, 2026
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Reservation policy implementation strengthened across public financial institutions to improve accessibility and uniform compliance measures.
Strengthening institutional capacity for uniform implementation of the Government of India's reservation policy across public financial institutions and enhancing accessibility for Persons with Disabilities were the primary objectives. The programme combined a Sugamya Bharat sensitisation session on accessibility standards and compliance requirements, a roundtable on legal provisions and practical challenges, exchange of best practices, and an interactive question-and-answer session to identify operational measures for inclusivity, accessibility and reservation policy compliance.
March 2, 2026
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Deferred Customs Duty payment enables qualified manufacturers to clear imports and pay duties monthly, subject to compliance and eligibility.
A Deferred Customs Duty payment facility allows Eligible Manufacturer Importers to clear imports without immediate duty payment and to pay applicable customs duties monthly under the Deferred Payment of Import Duty Rules, 2016, subject to prescribed Customs and GST compliance, turnover, financial standing and track record; existing AEO T1 entities meeting eligibility may participate and applications are to be submitted via the AEO portal.
March 2, 2026
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Energy supply disruption risks trigger global market selloff and safe-haven flows, lifting oil and gold while bond yields fall.
Global markets moved to risk-off after US and Israeli attacks on Iran: equities opened lower while gold and government bonds rallied and oil prices surged on fears that strikes and incidents in the Strait of Hormuz could restrict oil and LNG exports, raising the prospect of higher energy and production costs; higher-than-expected wholesale inflation readings were identified as a factor that may affect the central bank's timing for interest-rate cuts.
March 2, 2026
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Rupee depreciation driven by crude price surge, dollar strength and foreign fund outflows pressures local currency lower.
Rupee depreciation in early trade reflected external pressures-higher crude prices, a stronger US dollar, and escalated Middle East tensions-compounded by negative domestic equity sentiment and significant foreign institutional outflows. Market indicators included a firmer dollar index, rising Brent crude futures, and a recent dip in forex reserves, while analysts warned of increased import bill risk due to India's reliance on fuel imports.
March 2, 2026
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Energy supply disruption threatens global oil flows, driving sharp price increases and straining fuel and goods markets worldwide.
Attacks and retaliatory strikes in the Middle East disrupted flows through the Strait of Hormuz and regional export infrastructure, triggering sharp crude price rises and heightened risk of sustained supply constraints; OPEC+ announced production increases, but analysts stress that constrained export routes limit the immediate effectiveness of added output.
March 2, 2026
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Maritime chokepoint security threatened, risking oil export disruptions and limiting the relief from increased production.
Attacks and military strikes in the Middle East disrupted maritime traffic through the Strait of Hormuz, risking restrictions on regional crude exports and driving upward pressure on oil and gasoline prices. Because the strait is a critical global oil chokepoint, market concerns focus on whether barrels can physically move; consequently, OPEC+ announcements of increased production may provide limited immediate relief if export routes remain constrained.
March 2, 2026
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Oil supply security: production increases meet limited relief when export routes through the Strait of Hormuz are disrupted.
OPEC+ announced an April increase in crude production intended to augment available supply while regional military attacks and disruptions to tanker movements - particularly through the Strait of Hormuz - threaten export routes. The notice underscores that interruptions to transit can limit the relief additional output provides and that access to export channels will be decisive for near-term market stability and price direction.
March 1, 2026
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Energy security measures cushion supply shocks but elevate price volatility and macroeconomic pressures for oil importers.
Escalating tensions around Iran and the Strait of Hormuz create near-term energy security risks for India manifested chiefly as price volatility and macroeconomic pressure rather than immediate physical shortages. Layered inventory buffers - commercial stocks, in transit cargoes and Strategic Petroleum Reserves - combined with diversified sourcing options (including Atlantic suppliers and Russian optionality) reduce the likelihood of sustained supply disruption, though longer transit times and LNG contractual rigidity limit rapid substitution and increase vulnerability to prolonged closures.
March 1, 2026
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GST revenue growth signals strengthened tax receipts driven by import collections and improved domestic sales affecting fiscal enforcement.
A court ordered continued judicial custody for eight alleged Lashkar-e-Taiba operatives accused of illegal entry and procuring forged identity documents while another court directed the immediate release of 14 student protesters arrested after a campus demonstration. Separately, gross Goods and Services Tax collections rose year-on-year, led by higher import receipts and improved domestic sales, reflecting stronger enforcement and compliance dynamics within the indirect tax regime.
March 1, 2026
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SGST growth reflects strengthened tax administration and compliance following GST rate rationalisation, bolstering state revenues.
Haryana reports marked year on year expansion in State Goods and Services Tax (SGST) receipts for 2025-26, attributing the improvement to strengthened tax administration, enhanced compliance stemming from departmental reforms and better tax analysis, facilitation via district GST Suvidha Kendras, and the GST Council's September 2025 rate rationalisation as complementary drivers of revenue growth.
March 1, 2026
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GST revenue growth maintained despite rate reductions; enhanced compliance and AI-driven analytics strengthened state collections effectively.
Andhra Pradesh achieves record net Goods and Services Tax receipts for February, with SGST and IGST growth offsetting marginal gross GST decline. Revenue momentum is supported by higher professional tax and petroleum VAT receipts. The state credits strengthened compliance-targeted audits, stricter return filing, coordinated IGST settlements, and performance based officer deployment-and advanced data analytics and AI oversight that detect evasion and reverse ineligible input tax credit claims for measurable recoveries.
March 1, 2026
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Shipping risk allocation: exporters urged to avoid CIF and prefer FOB as geopolitical risks raise freight and insurance exposure.
Advises exporters to avoid new Cost, Insurance and Freight (CIF) commitments to Iran and Gulf destinations and to conclude sales on Free-On-Board (FOB) terms where feasible so freight, insurance and related risks rest with the buyer. Notes that West Asia instability may sharply increase bunker prices, disrupt vessel availability, raise freight and insurance premiums, and produce price volatility; urges restraint, avoidance of open-ended unhedged positions, and monitoring of consignments in transit or awaiting clearance.
March 1, 2026
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GST rate restructuring boosts revenues as import and domestic consumption support post cut recovery in collections.
GST collections rose year on year following a statutory GST rate restructuring that reduced rates on numerous items and consolidated slabs; import revenue and domestic consumption supported recovery after an initial post cut dip. The pattern includes higher refunds, lower cess receipts, and divergent state level growth, raising considerations for revenue forecasting, state fiscal impacts, and the operational stability of the restructured indirect tax framework.
March 1, 2026
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Export disruptions to Iran risk shipment halts and payment delays for rice exporters amid regional conflict.
Shipments to Iran and consignments to Afghanistan via Bandar Abbas have been held up following military strikes, causing immediate shipment disruptions and likely payment delays until the security situation improves; exporters warn the impact depends on conflict duration and note heightened commercial risk from lack of war-risk insurance for vessels.
March 1, 2026
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Goods and Services Tax collections rose driven by import revenue growth, with higher refunds and lower cess receipts.
Gross collections under the Goods and Services Tax increased year on year, driven mainly by a stronger rise in import related GST receipts; domestic GST rose more modestly. Total refunds increased, and net GST receipts were higher year on year, while cess receipts declined markedly compared with the prior year period.
March 1, 2026
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Energy supply resilience mitigates immediate oil disruption risk, though prolonged Hormuz closure heightens price and supply concerns.
India's layered inventory buffers - commercial stocks, in-transit crude and strategic petroleum reserves - and full refinery tanks reduce the likelihood of immediate physical disruption from a short-term Strait of Hormuz closure, shifting the principal near-term impact to price, freight and insurance volatility; prolonged closure would more severely affect LNG and LPG due to contract rigidity and transit dependence, prompting reliance on diversified sourcing, Russian optionality, longer transit planning and strategic reserve drawdowns.
March 1, 2026
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Bail parity: Former CMO official released after court found investigation substantially complete and parity with other accused.
The court evaluated bail petitions in parallel Economic Offences Wing and Enforcement Directorate inquiries alleging a syndicate diverted liquor to government shops and laundered proceeds; it found the investigation substantially complete, trial unlikely to conclude soon, and that continued detention would not serve justice. Prosecution relied on asserted digital communications and co-accused statements alleging supervisory role and receipt/handling of proceeds; defence disputed incriminating material, reliance on statements, selective arrests and urged parity and repeated prior incarcerations. The court held evidentiary weight requires trial testing and noted parity with other released accused.

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Customs & Trade

Guangdong aims to shoulder greater responsibilities at the beginning of the 15th Five-Year Plan period

March 9, 2026

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GUANGZHOU, China, March 9, 2026 /PRNewswire/ -- On the afternoon of March 6, 2026, the Guangdong provincial delegation held an open meeting during the Fourth Session of the 14th National People's Congress in Beijing. The event drew 277 journalists from 111 media outlets, including 61 foreign organizations. Reporters asked questions actively; delegates answering included Huang Kunming, Secretary of the CPC Guangdong Committee, and Meng Fanli, Governor of Guangdong. The meeting was chaired by Huang Chuping, Chairman of the Standing Committee of the Guangdong Provincial People's Congress. The plenary meeting of Guangdong delegation A Xinhua News Agency reporter noted that during his inspection of Guangdong in November 2025, Chinese President Xi Jinping gave guidance for the province's scientific planning for the 15th Five-Year Plan period, encouraging Guangdong to take the national lead, set an example for the country, and shoulder greater responsibilities. The reporter asked about Guangdong's implementation plans. Huang Kunming outlined the province's vision and key priorities for the year in four areas: "strengthening the two cornerstones of industry and technology," "advancing reform and opening up while adhering to the mass line," "expanding into county-level areas and the maritime domain," and "energizing the two main drivers of enterprises and talent." Huang Kunming said Guangdong has vigorously promoted the mutual reinforcement of industry and technology in recent years, leading to the province's top ranking in regional innovation capability for nine consecutive years. The nine mainland cities in the Guangdong‑Hong Kong‑Macao Greater Bay Area saw foreign trade imports and exports rise 4.4% despite headwinds, and actual use of foreign capital increase 11.3%. 'Guangdong‑made products' perform strongly across China and overseas, injecting momentum into the province's high‑quality development. As Guangdong begins the crucial stage of the 15th Five‑Year Plan period, it aims to cultivate more industrial clusters worth hundreds of billions or trillions of yuan in emerging fields such as 6G, the low‑altitude economy, embodied artificial intelligence, and quantum technology. Huang Kunming extended a warm invitation to media professionals to visit Guangdong, explore its strengths, enjoy its cuisine, and experience the charm of the Lingnan region. Huang Kunming proactively invited journalists from Macau to ask questions. A reporter from Macau Global Chinese Business News asked what message he had for the Macau press. Huang Kunming said that after years of close collaboration with Macau, both the "hardware and software" foundations have become increasingly mature. Guangdong offers numerous advantages, significant opportunities, and broad space for growth. He welcomed insightful people from all sectors in Macau—especially young people—to come to Hengqin to start or expand businesses or to work. Responding to a question from a China Media Group reporter, Governor Meng Fanli noted that Guangdong has the largest manufacturing sector in China. During the 15th Five‑Year Plan period, Guangdong will prioritize accelerating high‑quality development of the service sector as a key task in advancing industrial and economic upgrading. The focus will be on "advancing six key dimensions and fostering a robust industrial ecosystem." The six dimensions are integration, high‑end advancement, digital intelligence, green development, internationalization, and diversification. At the same time, the province will cultivate an industrial ecosystem that supports healthy, rapid growth in services, increase investment in service industries, and build world‑class industrial parks alongside diverse online and offline platforms and carriers. At the 1.5‑hour interactive session, journalists repeatedly raised questions on hot topics about Guangdong's development. Delegates responded directly and candidly, sharing their experiences in office and outlining future plans, conveying determination and confidence in advancing during the 15th Five‑Year Plan from multiple perspectives. Photo: https://mma.prnewswire.com/media/2928941/Guangdong_Province_meeting.jpg' alt='Embedded Media' /> Logo: https://mma.prnewswire.com/media/2928992/Guangdong_Province_Logo.jpg' alt='Embedded Media' /> (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR

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