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March 9, 2026
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Cognisance under PMLA: challenge to requirement of FIR for scheduled offences may determine prosecutorial scope.
The ED challenges a trial court ruling that refused cognisance of its PMLA prosecution because the alleged scheduled offence arose from a private complaint rather than an FIR, arguing that denying prosecution on that basis improperly shields alleged money launderers; the Delhi High Court has listed the ED's appeal for hearing and notices were issued to the accused and related entities concerning alleged usurpation of Associated Journals Limited's assets by Young Indian.
March 9, 2026
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Consumer financing: pre approved EMI and Easy EMI Loan options enable instant in store purchases of eco friendly refrigerators.
Bajaj Finserv's Summer Sale provides pre approved consumer financing and Easy EMI Loan options enabling instant, in store purchase of eco friendly refrigerators with flexible tenors, conditional zero down payment, and partner store availability; promotional prices, EMIs and offers vary by model, store and location. Bajaj Finance Limited is disclosed as an RBI registered deposit taking NBFC classified as an NBFC Investment and Credit Company, with cited credit and deposit ratings and a disclaimer limiting the news agency's editorial responsibility.
March 9, 2026
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Force majeure declarations amid Middle East conflict trigger supply disruptions and spur talks of releasing strategic oil reserves.
Attacks on production and shipping linked to the Iran conflict have reduced exports and prompted a national oil company to declare force majeure, relieving contractual obligations during extraordinary disruption. Some producers have cut output as storage fills, while major consuming states are considering coordinated releases of strategic petroleum reserves and domestic measures to prevent hoarding and price collusion to stabilize markets.
March 9, 2026
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Limiting customer liability in digital transactions expanded to cover more fraud and introduce a temporary compensation mechanism.
RBI has published draft Amendment Directions to broaden the scope of limits on customer liability in digital transactions to include additional fraudulent electronic banking transactions, mandate faster bank processing of fraud complaints, and establish a temporary compensation mechanism for small-value frauds subject to a one-year review aimed at shifting more compensation responsibility to banks.
March 9, 2026
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Provincial development priorities: prioritize industry technology integration and service sector modernization under the new five year plan.
Guangdong sets strategic provincial development priorities for the 15th Five-Year Plan, prioritizing industry technology integration and the cultivation of large-scale industrial clusters in fields such as 6G, embodied artificial intelligence, and quantum technology. Simultaneously, the province will accelerate high-quality service sector development through six strategic dimensions-integration, high-end advancement, digital intelligence, green development, internationalization, and diversification-by expanding investment, building world-class industrial parks, and creating diverse platforms while inviting external participants and talent to engage in provincial opportunities.
March 9, 2026
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Wealth management platform expansion strengthens bank's direct advisory franchise while maintaining strategic collaboration with existing partner.
Federal Bank launched Fed Wealth and a Wealth Hub to develop an in house wealth franchise offering fixed income, equities, mutual funds, alternatives and GIFT City solutions, and will establish specialised Wealth Hubs for private advisory and virtual consultations. The Bank restructured its arrangement with Equirus Capital to align product and service architecture for affluent and UHNI clients while ensuring uninterrupted service for existing Equirus customers, retaining a minority stake in Equirus and continuing targeted collaboration to offer select Equirus products to UHNI clients.
March 9, 2026
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Oil supply disruption drives crude price surge and market volatility amid Middle East conflict, threatening shipping and energy inflation.
Crude oil prices surged as the Iran war damaged energy infrastructure and disrupted shipping through the Strait of Hormuz, constraining exports and prompting production cuts by regional producers. Attacks on depots and transfer terminals, reduced tanker traffic, and filling storage tanks tightened physical supply, fueling market volatility, higher fuel and natural gas prices, and inflationary pressures. Discussions of strategic petroleum reserve releases and official assurances were cited as potential mitigating measures against persistent disruptions.
March 9, 2026
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Oil supply disruption drives crude prices up, threatening global inflation and straining markets and fuel costs.
Crude oil prices surged after the Iran war disrupted production and maritime transit through the Strait of Hormuz, impeding tanker movement and prompting output cuts by producers as storage tanks filled. Attacks on oil and gas facilities and depots further reduced exports, transmitting supply shocks into elevated crude and natural gas prices, higher retail fuel costs, intensified market volatility, and upward pressure on inflation, with major buyers potentially seeking alternative suppliers.
March 9, 2026
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Export Obligation extension grants automatic relief for advance and EPCG authorisations, no application or fee required.
Automatic extension of the Export Obligation (EO) period is provided for specified Advance Authorisations and EPCG Authorisations, without requiring separate applications or payment of composition fees, operating alongside existing Foreign Trade Policy and Handbook of Procedures provisions; DGFT regional authorities will verify EO compliance at the time of issuance of Export Obligation Discharge Certificates, closure, or regularisation, and Customs have been informed to permit exports consistent with the revised EO timeline.
March 9, 2026
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Technological self-sufficiency drives China's industrial policy, prompting state-led subsidies and supply-chain strategies to counter foreign tech restrictions.
China's 2026 and five-year plans combine near-term focus on expanding domestic demand with a strategic push for technological self-sufficiency. The state will deploy industrial policy and sizeable subsidies to accelerate breakthroughs in AI, semiconductors, batteries, biotech, 6G, electric vehicles and commercial aviation, seeking supply-chain resilience in response to foreign technology restrictions, while acknowledging risks of manufacturing oversupply and international trade tensions.
March 9, 2026
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Energy supply disruption raises oil prices and fuels market volatility with implications for fuel costs and economic risk.
Oil prices rose above one hundred dollars per barrel after conflict involving Iran disrupted production and shipping through the Persian Gulf, reducing tanker transits via the Strait of Hormuz, prompting production cuts and storage fill-ups among regional producers, and following attacks on oil and gas facilities that tightened global crude availability and heightened market volatility.
March 8, 2026
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Sanctions waiver allows delivery of Russian-origin crude already loaded, enabling refiners to secure alternate supplies amid shipping disruptions.
A temporary sanctions waiver permitting sale and delivery of Russian-origin crude loaded prior to the cutoff enables Indian refiners to accept in transit Russian cargoes without breaching sanctions; refiners are also sourcing additional supplies from non-conflict regions, maintaining processing rates and using onshore and strategic reserves to preserve inventory coverage while facing higher freight, insurance and commodity price risks.
March 7, 2026
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Trade preference: India secured preferential market access under a bilateral framework with the US, affecting tariffs and procurement.
A bilateral trade framework with the US sets reciprocal tariff adjustments and market-access commitments, with India agreeing to reduce or eliminate tariffs on a broad set of US industrial and agricultural products and declaring procurement commitments for US goods; final legalisation is pending after changes in US tariff policy and postponement of negotiators' talks.
March 7, 2026
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Illicit export of controlled drug by mislabelling and forged customs papers exposed, forensic testing confirmed substance.
Three individuals were arrested for exporting etomidate by mislabelling consignments as aloe vera powder and a personal care ingredient, using forged customs documents and air cargo from Mumbai; Raman spectrography confirmed etomidate, the suspects admitted contacts with overseas drug-cartel members, and shipments were bound for jurisdictions where etomidate is treated as a controlled or prohibited substance.
March 7, 2026
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Government emergency power to direct refineries ensures LPG supply while domestic cooking gas prices rise.
Domestic cooking gas prices were raised significantly and commercial LPG rates were increased separately; state differentials reflect local tax incidence. The rise was linked to global energy price spikes and supply disruptions through the Strait of Hormuz. The government invoked emergency powers to direct refineries to boost LPG production and indicated petrol and diesel prices will not be raised immediately because state oil companies can absorb short term cost pressures.
March 7, 2026
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Port facilitation measures urged to permit charge waivers and operational steps to manage disruption from West Asia crisis.
The Ministry's Standard Operating Procedure requires each port to appoint a nodal officer as single point of contact to secure timely action and mandates that ports consider, case by case and depending on circumstances, requests for reduction, waiver or remission of charges including storage rent and change of vessel charge; permit storage of Middle East bound cargo as transshipment cargo; allot additional storage; facilitate ad hoc berthing and expedited return movement of export cargo; prioritise perishable cargo handling; and coordinate with Customs and DGFT for implementation.
March 7, 2026
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Export obligation relief extends EO for specified advance and EPCG authorisations without composition fee to aid exporters facing shipping disruptions.
The DGFT has automatically extended the export obligation period, block-wise, for specified advance authorisations and EPCG authorisations expiring between March and May, until August 31, 2026, without payment of the composition fee, supplementing existing foreign trade policy extension mechanisms to assist exporters affected by shipping and supply-chain disruptions.
March 7, 2026
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Vehicle smuggling exposed; arrests follow forged registrations and alleged official complicity, customs pursue custody.
A cross border smuggling scheme brought high end used vehicles from Bhutan into India without payment of Customs duties, re registering them using forged documents; Customs' "Operation Numkhor," aided by state police, led to arrests, seizures and a planned court application for custody to further investigate alleged organiser conduct including involvement of a District Transport Officer and duplicate registrations identified by the auditor.
March 7, 2026
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Emergency powers invoked to boost domestic LPG production amid supply disruptions following Middle East conflict.
Retail LPG prices for household and commercial cylinders were increased, with non subsidised domestic cylinders and Ujjwala beneficiaries affected and commercial cylinders rising by a larger margin; the hikes are attributed to global energy price spikes and supply disruptions via the Strait of Hormuz. To augment domestic supplies, the government invoked Emergency Powers directing refineries to ramp up LPG production, while state taxes continue to cause regional price differences.
March 7, 2026
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Unique Transaction Identifiers mandated for each scheme to improve traceability; notify UIDAI and adopt LITE code where applicable.
REs implementing Aadhaar authentication must embed a Unique Transaction Identifier (up to five alphabetic characters appended to the transaction ID) for each scheme/service/use case, notify UIDAI using the Annexure III format before implementation, and follow Annexure I guidelines; low volume government entities may apply for a LITE Code via their AUA/KUA under the SOP in Annexure II, with secure logging, compliance obligations, and license/penalty consequences if thresholds are exceeded.

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Customs, DGFT & SEZ

APEDA Showcases India’s Agri and Processed Food Export Strength at AAHAR 2026

March 11, 2026

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India’s Agri and Processed Food Exports Cross ₹5 Lakh Crore; FTAs Opening New Global Opportunities: Union Minister of Commerce and Industry Shri Piyush Goyal

APEDA Releases Research Reports on Key Agricultural Products, Launches Packaging Solutions for GI and Region-Specific Exports

Basmati, Organic and Plant-Based Foods Highlighted at APEDA Pavilion at AAHAR 2026

The Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce & Industry, participated in the 40th edition of AAHAR 2026 held from 10–14 March 2026 at Bharat Mandapam, New Delhi. APEDA presented a pavilion highlighting India’s agricultural and processed food export capabilities, bringing together exporters, State representatives and industry stakeholders on a common platform.

The 40th edition of AAHAR – The International Food & Hospitality Fair was inaugurated by Union Minister of Commerce and Industry Shri Piyush Goyal. Organised by the India Trade Promotion Organisation (ITPO), the landmark edition of the event features Italy as the Country Partner. The inauguration ceremony was attended by senior officials from the Embassy of Italy, representatives of ITPO, government officials, industry leaders, exhibitors and delegates from India and abroad.

In his keynote address, Union Minister of Commerce and Industry Shri Piyush Goyal said that India’s food and agriculture sector is entering a new phase of global opportunity. He noted that with exports of agricultural and processed food products crossing ₹5 lakh crore annually, India today stands among the world’s leading exporters. Over the past decade, exports of processed foods, fruits, pulses and vegetables have grown significantly, reflecting the strength and diversity of farmers, fishermen and food processors across the country.

The Minister further said that India’s expanding network of Free Trade Agreements has opened significant opportunities for the country’s food and agricultural exports. In recent years, India has concluded trade agreements with countries and regions including the United Arab Emirates, Australia, Switzerland and other EFTA nations, while strengthening engagement with partners such as Japan, Korea, the United Kingdom, Oman and Mauritius, and advancing discussions with Canada and the European Union. He noted that these agreements are enabling preferential market access for Indian products across nearly two-thirds of global trade, creating new opportunities for farmers, MSMEs and food processors to expand exports and access high-value markets.

The APEDA Pavilion was inaugurated by Additional Secretary, Department of Commerce Shri Nitin Kumar Yadav along with Chairman, APEDA Shri Abhishek Dev and Managing Director, ITPO Shri Neeraj Kharwal in the presence of senior officials from the Government of India, APEDA, participating State Governments, exporters and industry representatives. The pavilion served as an important platform to showcase India’s diverse agri-export basket and facilitate interactions between exporters and buyers from domestic as well as international markets.

On the occasion, research reports on cucumber, cashew, pineapple and pomegranate prepared by APEDA in collaboration with ICRIER as the knowledge partner were also released. The reports provide insights on supply chains, export potential and strategies to enhance India’s competitiveness in global markets.

APEDA also announced the launch of packaging design solutions and technical standards for selected region-specific agricultural products developed in collaboration with the Indian Institute of Packaging (IIP). The initiative focuses particularly on GI-tagged and organic products and aims to improve product protection, shelf life and market presentation for exports. The products covered under this initiative include Karbi Anglong Ginger (Assam), G4 Chilli and Jalgaon Banana (Maharashtra), Assam Kaji Nemu (Assam) and Prayagraj Surkha Guava (Uttar Pradesh).

Spread across an exhibition area of 2,500 square metres, the APEDA Pavilion hosted over 100 exhibitors representing exporters, producer organisations, startups and food processing enterprises from across the country. The exhibition provided opportunities for industry stakeholders to explore collaborations, expand market linkages and promote value-added agricultural products.

The pavilion highlighted key export segments including Basmati Rice, Non-Basmati Rice, Organic Products and emerging plant-based food products, reflecting India’s expanding portfolio in global agri-food markets. A special feature on plant-based products showcased innovative and sustainable food alternatives gaining traction in international markets.

Several State Pavilions were featured within the APEDA space with participation from Andhra Pradesh, Assam, Bihar, Delhi, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Meghalaya, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand and West Bengal. These pavilions showcased region-specific products, traditional food items and export-ready agricultural produce, reflecting the diversity and strength of India’s agri-food sector.

APEDA’s participation at AAHAR 2026 attracted significant industry engagement, with over one lakh visitors during the five-day event. The exhibition created opportunities for exporters, food processors and agri-entrepreneurs to interact with buyers, distributors and institutional stakeholders from India and abroad.

A key highlight of the APEDA Pavilion was live wet sampling sessions conducted by a renowned chef presenting innovative recipes and applications using Indian agricultural and processed food products. The pavilion also featured focused displays on Basmati Rice, Non-Basmati Rice, Organic Products and Plant-Based Food products, enabling buyers and visitors to explore India’s export-ready offerings.

AAHAR continues to be one of the largest B2B platforms for the food and hospitality industry in South Asia, offering an important interface for business networking, product promotion and knowledge exchange across the agri-food value chain.

Through its participation at AAHAR 2026, APEDA showcased India’s growing capabilities in high-quality agricultural production, value addition and export-oriented supply chains. The pavilion brought together exporters, startups, State agencies and producer organisations, highlighting opportunities to expand India’s presence in international markets.

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