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    Govt launches Rs 497-cr 'RELIEF' scheme to help exporters hit by West Asia crisis; sets up IMG
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March 19, 2026
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Export relief scheme extends export obligations and offers logistical and financial support to exporters affected by West Asia conflict.
The government launched a targeted export support scheme to assist exporters disrupted by the West Asia conflict, with ECGC as implementing agency and an inter ministerial group coordinating daily. The scheme covers consignments to specified West Asia destinations and comprises three components: automatic, penalty free extension of Advance Authorisation and EPCG export obligations and protection of insured shipments over an immediate one month window; measures to promote ECGC coverage for upcoming consignments over a three month period; and targeted partial reimbursement of extraordinary freight and insurance costs for MSMEs not covered by ECGC during a specified one month period.
March 19, 2026
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Textile export leadership: Tamil Nadu tops India in textile shipments, surpassing Gujarat and Maharashtra in 2024-25.
Tamil Nadu leads India in textile exports for fiscal year 2024-25 with shipments of USD 7,997.17 million, up from USD 6,193.39 million in 2020-21 and representing 21.84% of national textile exports; Gujarat and Maharashtra follow in second and third place. The National Import-Export Record for Yearly Analysis of Trade is cited as the source, and the state credits cross-departmental schemes for the multifaceted export growth.
March 19, 2026
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GMP compliance as a market access tool: certified divisional containment and neutral code manufacturing enable regulated exports and client reliability.
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March 19, 2026
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GSTAT e-filing guidance sets out role selection, document upload, payment, digital signing, and filing number generation.
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March 19, 2026
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Aadhaar forgery: arrest and seizure of devices as suspect taken for further interrogation and investigation.
Allegations concern a gang producing forged Aadhaar cards and the arrest of an individual alleged to have provided technical assistance to that syndicate; electronic devices and documentary material were recovered during a raid and the suspect was transferred for further interrogation as part of an ongoing inter-district probe.
March 19, 2026
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Textile export leadership shifts as Tamil Nadu becomes nation's top textile exporter, surpassing Gujarat and Maharashtra.
Tamil Nadu has become India's leading state in textile exports for fiscal 2024-25, surpassing Gujarat and Maharashtra, according to national import-export data compiled on a centralised trade-data platform; the state's rise is attributed to coordinated departmental schemes and planned policy measures driving multifaceted growth in the textile sector.
March 19, 2026
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March 19, 2026
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Merger approval: competition regulator clears Bentley's stake increase in Baby Memorial and BMH's secondary purchase in Unimed.
The Competition Commission approved a two-step Proposed Combination: Bentley Asia will acquire additional shareholding in Baby Memorial Hospital Limited, and BMH will thereafter acquire certain shareholding in Unimed Health Care Private Limited by way of a secondary purchase; the parties include a Singapore investor (Bentley), a multi-specialty hospital network (BMH), and Unimed operating Star Hospitals, with a detailed order to follow.
March 19, 2026
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March 19, 2026
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March 18, 2026
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Direct tax collections rise driven by stronger corporate tax receipts and lower refund outflows, boosting fiscal cash flows.
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March 18, 2026
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Trade deal impact: tariff asymmetry threatens farmer incomes, prompting calls for MSP guarantee and stronger crop protections.
India-US trade negotiations are depicted as posing asymmetric market access that would expose Indian farmers to tariff-free competition from US agricultural exports while domestic producers face duties, threatening incomes and sectoral competitiveness. Parliamentary interlocutors advocated compensatory domestic measures including a Minimum Support Price guarantee, reorientation of fertiliser subsidies to end-users, reform of the crop insurance scheme to favour farmers, targeted debt relief, and import curbs on selected agricultural commodities to protect farmer livelihoods and national food security.
March 18, 2026
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Constitutional constraints on military deployment limit Japan's warship commitments, shaping talks on security and defence cooperation.
Japan declined to commit warships in response to US requests, citing constitutional constraints, legal questions over the US action, and public opposition; limited non combat missions such as survey, intelligence, or minesweeping are possible only after a ceasefire and with domestic legal authorization. Concurrently, Tokyo is revising defence policy to accelerate long range missile deployment, consider joining a US multi layer missile defence system, and lift the lethal arms exports ban to bolster defence industry cooperation, while pursuing energy and rare earth investment projects to diversify supplies.
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Minimum Support Price funding secures direct price support to cotton farmers through CCI procurement when markets fall below MSP.
The Cabinet approved funding for the Minimum Support Price mechanism for the 2023-24 cotton season, allocating resources to the Cotton Corporation of India (CCI) to provide direct price support by procuring Fair Average Quality cotton without quantitative ceilings whenever market prices fall below MSP. CCI is designated the central nodal agency and will deploy its procurement network across 11 major cotton-growing States, supported by information dissemination, the Bale Identification and Traceability System (BITS) and the "Cott-Ally" mobile application to enhance transparency and outreach.
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Distribution of court-deposited settlement funds under lenders' agreed formula seeking approval for proportionate payouts to secured banks.
The SBI led consortium seeks court authorisation to disburse funds deposited in the registry pursuant to a settlement by allocating the deposited amount proportionately among secured lenders based on consolidated admitted dues across group companies. The lenders adopted a uniform methodology-aggregating domestic and foreign exposures, converting foreign loans at a fixed exchange rate of Rs 63 per US dollar, applying nine percent interest per annum from NPA date with annual rests, and adjusting amounts recovered through insolvency-to compute each lender's share and propose payment into specified bank accounts.

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Customs & Trade

No need for panic booking, enough LPG supplies to meet household needs: Govt

March 11, 2026

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New Delhi, Mar 11 (PTI) Amid panic buying in some parts of the country, the government on Wednesday said India has enough LPG stocks to fully meet household cooking gas requirements, even as it stepped up efforts to secure alternative supplies to replace volumes disrupted by the West Asia conflict.

While India has been able to source additional crude oil - the raw material for fuels such as petrol and diesel - from alternative suppliers to offset disruptions caused by the blockage of the Strait of Hormuz, refinery adjustments have lifted domestic LPG output by about 25 per cent. The push to secure supplies has also resulted in securing at least two LNG cargoes, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said.

The widening conflict in the Middle East has largely halted shipments through the strait that was the conduit for most of India's oil, gas and LPG needs. While India scrambles to seek alternative crude sources from countries like Russia, LPG and LNG supplies remain constrained. Shortages are affecting businesses nationwide, from restaurants and crematoriums to ceramic units and even the Delhi High Court canteen. Household kitchens are getting fuel, but there are reports of long queues at dealers and the fuel being sold at higher rates in the black market.

At a media briefing - the first on record by an oil ministry official since the conflict broke out on February 28 - Sharma sought to allay concerns on availability, saying the government's efforts are primarily directed at maintaining uninterrupted supplies to households.

Sharma said India imports about 60 per cent of its LPG requirement, and 90 per cent of this is through the Strait of Hormuz.

This shortfall meant prioritising household kitchens over commercial usage. But even this has led to panic buying by common users.

"Feedback suggests that some panic booking and hoarding behaviour has been triggered by misinformation," she said. "We have enough stocks. There is no need for panic. There is no need for the customer to rush and book cylinders." The pre-war delivery cycle for a refill of two-and-a-half days remains, said Sharma, who is in charge of LPG in the ministry.

Giving a full account of the fuel supply scenario, she said India's daily crude oil consumption is about 5.5 million barrels, 55 per cent of which came from countries like Saudi Arabia, Iraq and the UAE through the Strait of Hormuz.

She said oil companies have diversified procurement and secured volumes larger than those that were displaced by the blockage of the strait after the US and Israel attacked Iran and Tehran's retaliatory action.

"As a result of this diversification, about 70 per cent of our crude imports are now coming from routes outside the Strait of Hormuz, compared with about 55 per cent earlier," she said.

All the oil refineries, which convert crude oil into fuels, are operating at full capacity.

On natural gas, which is used for power, fertilizers, CNG, and household cooking, she said that out of the total consumption of 189 million standard cubic meters per day, 97.5 mmscmd is produced within the country, and the rest is imported. Out of the imports, about 47.4 mmscmd supply has been affected due to the Strait of Hormuz disruption.

"We are making efforts to procure from alternate routes, and supplies are underway to offset this disruption," she said. "Gas companies have procured LNG cargoes from the new sources, and two LNG cargoes are on their way to the country." To manage the shortfall, the government has prioritised household cooking and transport fuels, directing refineries to maximise LPG output by cutting petrochemical feedstock streams and barring units, including Reliance Industries Ltd's export-oriented plants, from using LPG as feedstock. Industrial LNG and LPG deliveries have been curtailed to protect more than 33 crore households, which account for roughly 86 per cent of LPG consumption.

To manage demand, cooking gas prices were raised for the first time in 11 months, and the minimum interval between subsidised refills was extended from 21 to 25 days.

To deal with the shortfall arising from blockage of supplies through the Strait of Hormuz, she said the government has taken various steps, including maximising LPG production in refineries by cutting other fuel streams. "Domestic LPG production has increased by 25 per cent, and all these domestic LPG is being directed towards household consumers." For non-domestic LPG, priority is being given to essential sectors such as hospitals and educational institutions, she said, adding that a three-member committee of executive directors of oil marketing companies - IOCL, HPCL and BPCL - has been constituted to review the allocation to restaurants, hotels and other commercial users.

The committee is consulting with state authorities and industry bodies to finalise a plan to ensure that available LPG is distributed in a fair and transparent manner on LPG prices, she added.

State governments have been advised to crack down on hoarding and black marketing of LPG.

Union Home Secretary held a meeting with Chief Secretaries and Directors General of Police of all states and Union Territories.

States and Union Territories were advised to take strict measures against hoarding of essential commodities and ensure the uninterrupted availability of essential supplies. The government, the officials said, is closely monitoring the evolving situation in West Asia and maintaining continuous coordination among the concerned ministries and agencies.

They reiterated that necessary steps are being taken to ensure energy security, safeguard Indian nationals in the region, maintain the safety of maritime operations and ensure the uninterrupted availability of essential supplies. The government remains committed to keeping the public informed and taking timely measures to protect India's interests during the evolving situation.

India, the world's third-largest crude importer, sources 88 per cent of its oil needs from abroad. It consumes 5.8 million barrels per day, of which 2.5-2.7 million barrels come from Middle East countries like Saudi Arabia, Iraq, and the UAE via the Strait of Hormuz. The chokepoint also carried 55 per cent of India's cooking gas (LPG) and 30 per cent of liquefied natural gas (LNG), used for power, fertilizers, CNG, and household cooking. PTI ANZ HVA

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