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March 10, 2026
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Trade tariff rollback boosts Chinese export resilience despite weaker US demand and geopolitical energy risks.
China's exports rose sharply in January-February driven by semiconductors, autos and electronics, with broader regional demand offsetting reduced shipments to the United States. A recent judicial ruling lowered US tariffs and, together with a potential extension of the October trade truce, has eased import barriers that supported export growth. Risks to export competitiveness include a slowing domestic economy, property-sector weakness and geopolitical energy disruptions that could curb global demand.
March 10, 2026
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External commercial borrowing qualifies under automatic route, structured as a syndicated social loan supporting eligible social projects.
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March 10, 2026
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Insurance support for exporters to address shipping and insurance disruptions amid West Asia crisis, government seeks coordinated measures.
The government has issued Customs norms for export cargo returning to Indian ports and is developing insurance support schemes, consulting the Export Credit Guarantee Corporation and other departments to assist exporters whose goods have been shipped but face logistical and insurance problems, while an inter-ministerial group monitors developments and engages regularly with exporters.
March 10, 2026
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B2B platform expands India's food export access by linking producers, processors and MSMEs to global buyers and technology partners.
AAHAR 2026 operates as a structured B2B platform to convert India's agricultural and processing scale into global market access by enabling commercial matchmaking, export partnerships, technology transfer and investment linkages. The exhibition prioritises business outcomes-especially for MSMEs-through dedicated pavilions and buyer-seller interactions that translate government support and technological solutions into export orders, value addition and integration into international supply chains while emphasising sustainability across the food value chain.
March 10, 2026
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IP approval speed and transparency urged to position India's IP regime among global leaders with greater access for startups and women.
India aims to make its intellectual property approval system globally competitive by enhancing speed, transparency and efficiency through recruitment, technology upgrades and backlog reduction; it proposes fast track mechanisms and substantial fee concessions to improve access for startups, women entrepreneurs and micro and small enterprises while strengthening the broader innovation ecosystem via school innovation labs, incubation models and stakeholder engagement.
March 10, 2026
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Free Trade Agreements expand market access for pharmaceutical, healthcare and medtech sectors, requiring industry uptake and integrated healthcare ecosystems.
Free Trade Agreements create preferential market access for pharmaceuticals, healthcare and medtech, benefitting farmers, MSMEs and innovators but requiring active industry utilisation. Policy measures needed include building an integrated healthcare ecosystem linking manufacturing, innovation and hospitals; MSME quality upgradation and testing; skills development for caregivers and nurses to support exports; and adoption of digital health and AI for telemedicine and diagnostics.
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March 10, 2026
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Free Trade Agreements expand market access for MSMEs, prompting quality-led growth and adoption of AI and digital tools.
Free Trade Agreements expand market access for MSMEs into developed markets but require a shift to quality-led growth because FTA coverage raises product quality expectations and duty concessions do not permit substandard goods. The statement emphasizes technology and AI adoption to improve MSME productivity and decision-making, and outlines targeted support for women entrepreneurs through digital commerce onboarding initiatives and an Assist Cell providing mentorship, funding, marketing and technology guidance to enable scaling and sustainability.
March 10, 2026
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Voluntary compliance: SAKSHAM NUDGE urges restaurants to update returns under Section 139(8A) to rectify filings.
The Income Tax Department used AI-enabled transactional analytics to detect widespread under-reporting in the Food & Beverage sector, conducted an on-site survey that revealed significant sales suppression, and has launched the SAKSHAM NUDGE campaign to encourage identified restaurants to file updated returns under Section 139(8A) while investigations continue.
March 10, 2026
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Fraudulent Input Tax Credit scheme exposed, director arrested amid allegations of bogus invoices and absence of genuine business activity.
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March 10, 2026
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March 10, 2026
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Force majeure declarations amid Iran conflict relieve suppliers of contractual obligations as oil shipments and production face disruption.
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March 9, 2026
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Under-reporting of sales detected - data-driven inquiry prompts compliance notices for restaurants to update tax filings.
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March 9, 2026
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Force majeure declarations disrupt oil and gas contractual supply chains, creating carriage, insurance and performance risks for parties.
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March 9, 2026
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Force majeure invoked for oil shipments, suspending contractual delivery obligations amid Gulf supply disruptions and transit risks.
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March 9, 2026
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Fuel price freeze maintained as government directs companies to absorb costs and boosts LPG allocation to prevent shortages.
Government sources say retail petrol and diesel prices will not be raised immediately; oil marketing companies are expected to absorb current cost pressures. The state reports adequate crude and fuel stocks for six to eight weeks, has increased the minimum domestic LPG refill booking gap from 21 to 25 days to prevent hoarding, and has directed refineries to maximise LPG production while monitoring global energy developments and recalibrating allocations to maintain supply chain stability.
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.

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Customs & Trade

EXPLAINER: Why kerosene and coal are making a temporary comeback in India

March 13, 2026

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New Delhi, Mar 13 (PTI) India has temporarily reintroduced kerosene for household use and permitted the use of coal and other alternate fuels for hotels and restaurants as the escalating West Asia crisis disrupts the country's energy supply chains.

The move comes after the conflict effectively shut the Strait of Hormuz, through which a large share of India's crude oil, LPG and LNG imports normally pass.

Why is India facing fuel supply pressure? -------------------------------------------- The Strait of Hormuz - a narrow passage of water between Iran and Oman - is one of the world's most critical energy transit routes. The 21-mile-wide choke point, where shipping lanes for incoming and outgoing traffic are restricted to just 2 miles wide each, separated by a 2-mile buffer zone, is the only sea exit for oil- and gas- producing countries, such as Saudi Arabia, Kuwait, Iran, Iraq, Qatar and the United Arab Emirates (UAE).

The narrow, 50-mile-long passage that connects the Gulf with the Arabian Sea carries about a fifth of the world's oil and liquefied natural gas (LNG).

India imports roughly 88 per cent of its crude oil, 50 per cent of its LNG needs and 60 per cent of its LPG requirement, most of which transits through the strait.

The widening conflict in West Asia, which began on February 28 when the United States and Israel carried out strikes on Iran, followed by retaliatory attacks from Tehran, has stopped energy flows through the strait.

For India, the route is particularly important: ------------------------------------------------ * More than half of India's crude oil imports pass through the strait.

* About 55 per cent of LPG supplies used for cooking arrive through the route.

* Nearly 30 per cent of LNG imports also move through the corridor.

India consumed 31.3 million tonnes of LPG in 2024-25, of which only 12.8 million tonnes were produced domestically, with the remainder imported. 85-90 per cent of imports came from countries, like Saudi Arabia, that rely on the strait for transit.

While there is enough crude oil available from alternative sources, such as Russia, replacing any loss of LPG supplies is more time-consuming, as other alternative sources are largely located in the United States and Canada.

The disruption has forced oil companies to prioritise household cooking gas supplies, leading to restrictions on commercial users, such as hotels and restaurants.

Measures taken by the government --------------------------------------- To manage the supply disruption, the government has introduced a series of temporary measures: * Additional kerosene allocation: States have been given 48,000 kilolitres of additional kerosene, over and above the regular monthly quota of about 1 lakh kilolitres, for household cooking needs.

* Alternate fuels for hospitality sector: Environmental regulators have been asked to permit biomass, refuse-derived fuel (RDF) pellets and coal as alternate fuels for hotels and restaurants for one month.

* Limited commercial LPG supply: Oil marketing companies will allocate 20 per cent of the average monthly commercial LPG demand to ensure essential businesses continue to receive supplies.

* Demand management: The minimum refill interval for LPG cylinders has been increased to 25 days in urban areas and 45 days in rural areas.

Why is kerosene being used again? ------------------------------------- The increase in kerosene allocation is notable because India has spent the past decade attempting to phase out the fuel due to pollution concerns and its misuse for adulterating petrol.

Delhi was officially declared the first kerosene-free city in India on June 17, 2014. The initiative, launched in 2012, replaced kerosene usage with LPG connections for households, aiming to reduce pollution and fire risks.

Mass roll-out of LPG through grant of free connections to the poor under the Pradhan Mantri Ujjwala Yojana was intended to cut the usage of firewood and coal for cooking, especially in rural households.

However, with LPG supplies under pressure, officials said kerosene is being temporarily reintroduced to ensure households continue to have access to cooking fuel.

Is there a fuel shortage? -------------------------- The government says the country is not facing a shortage of petrol or diesel despite the global disruption.

* Refineries are operating at high capacity utilisation, in some cases exceeding 100 per cent.

* No petrol pump or LPG distributor has run dry.

* Crude oil supplies have been secured from multiple sources. India has diversified its crude sources to around 40 countries from 27 previously.

Why are LPG supplies under pressure? ---------------------------------------- Before the crisis, about 60 per cent of LPG imports came from Gulf countries such as Qatar, Saudi Arabia, the UAE and Kuwait. Those supplies are blocked.

The government says LPG cargoes are now being sourced from the United States, Norway, Canada, Algeria and Russia, in addition to available Gulf supplies.

Domestic LPG production has also been increased by 28 per cent by redirecting refinery output.

How the government is preventing hoarding ----------------------------------------------- Officials say a surge in LPG bookings has largely been driven by panic buying rather than actual supply shortages.

To curb hoarding and diversion, delivery authentication codes will be expanded to 90 per cent of consumers, requiring confirmation before cylinders are marked delivered.

A three-member committee will assess genuine commercial demand across sectors and regions.

Commercial LPG sales are being regulated temporarily to prevent black-market diversion.

What Next? ------------ Officials say the measures are temporary responses to an extraordinary global energy disruption.

The government is monitoring supply flows and alternative import routes while prioritising household cooking fuel and essential sectors such as hospitals and educational institutions.

The Strait of Hormuz has remained disrupted for nearly two weeks, making the current situation one of the most severe energy supply shocks in recent decades. PTI ANZ BAL BAL

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