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    US slaps 10 per cent tariff on goods imported from India over forced labour concerns
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    US' temporary 10 pc tariff set to expire on Friday unless extended or new duties announced
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July 24, 2026
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Forced-labour import prohibitions shape tariff treatment as India's policy amendment secures a lower rate for imported goods.
Forced-labour import prohibitions are linked to tariff treatment under Section 301 of the Trade Act of 1974. Goods imported from India receive a lower tariff rate after India amended its foreign trade policy to prohibit imports of goods produced using forced labour. The framework excludes certain raw materials, goods causing economy-wide disruption, and products unavailable in sufficient domestic quantities. India has contested the underlying investigations and proposes that the issues be addressed through a bilateral trade agreement.
July 24, 2026
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Integrated industrial city development promotes cross-learning on digital governance, investor facilitation, infrastructure planning and plug-and-play industrial parks.
Industrial corridor development is being supported through cross-learning on AURIC Smart City's integrated planning, infrastructure and governance practices. The programme addresses master planning, utility systems, digital monitoring, land utilisation, investor facilitation, project implementation and coordination among implementing agencies. It also considers application of these practices to the Bharat Audyogik Vikas Yojana for plug-and-play industrial parks, with emphasis on integrated utilities, digital land management, investor-friendly approvals, sustainable infrastructure and multimodal connectivity.
July 24, 2026
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WTO trade policy review highlights India's commitment to transparent trade rules, development policy space and multilateral engagement.
India reaffirmed an open, transparent, predictable and WTO-consistent trade and investment regime through tariff reform, customs simplification and free trade agreement initiatives. Its trade policy was presented as balancing developmental needs with WTO principles: agricultural tariffs protect vulnerable farmers, while industrial tariffs support supply-chain resilience and domestic manufacturing. India also committed to transparent, consultative and rules-compliant sanitary measures, technical regulations and trade remedies, with investigations based on objective evidence, due process and judicial oversight, including continued application of the Lesser Duty Rule in anti-dumping matters.
July 23, 2026
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Temporary Section 122 surcharge expiry may restore MFN treatment for Indian exports, while Section 301 tariff uncertainty continues.
The US temporary Section 122 import surcharge on Indian goods is scheduled to expire unless extended or replaced, restoring affected imports to normal US MFN tariff treatment. Liability depends on entry for consumption or warehouse withdrawal. Section 232 national-security tariffs remain unchanged. Indian exports may still face fresh measures under Section 301 investigations into forced labour and excess manufacturing capacity, alongside potential country-specific or sectoral tariffs. The expiry may improve export competitiveness and market access, particularly for labour-intensive and MSME-driven sectors.
July 23, 2026
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Quantum finance innovation will advance secure digital banking through cybersecurity, fraud detection, collaborative research, workforce development and digital literacy.
A Quantum Finance Innovation Hub is proposed to apply quantum technologies to banking through stronger cybersecurity, proactive financial-fraud detection and secure digital financial ecosystems. The initiative will bring together industry, academia, startups, research organisations and government agencies to promote innovation in quantum computing, artificial intelligence and related technologies. It also focuses on workforce development, digital literacy, public confidence in digital financial services, and technology-enabled responses to cybercrime and digital-arrest scams.
July 23, 2026
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Chief executive succession plan appoints a CEO designate, subject to shareholder approval, for an AI-led corporate leadership transition.
Corporate leadership succession at Infosys is proposed through the appointment of Ashiss Kumar Dash as Managing Director and Chief Executive Officer designate from 1 April 2027. The five-year appointment is subject to shareholder approval and follows a recommendation of the Board's Nomination and Remuneration Committee. The incumbent will remain in office until the transition date and support an orderly transfer of responsibilities. The succession plan identifies the CEO designate's business, technology-delivery, client and global operations experience as relevant to AI-led transformation.
July 23, 2026
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Bullion market pressure intensified as rising oil prices, inflation concerns and restrictive monetary policy expectations weakened gold and silver sentiment.
Gold and silver prices declined amid weaker global bullion trends, profit-booking, and higher crude oil prices linked to Middle East tensions. Market commentary associated the decline with inflation concerns and expectations that major central banks may sustain restrictive monetary policy for longer. Gold was described as facing near-term pressure from higher interest-rate expectations, inflation risks, and geopolitical uncertainty.
July 23, 2026
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Quantum finance innovation will develop secure, AI-enabled banking solutions through collaborative research, startup incubation, cybersecurity enhancement and workforce development.
Quantum finance innovation is to be advanced through a memorandum of understanding for establishing the PNB Quantum Finance Hub at Amaravati Quantum Valley. The hub will develop, test and support adoption of secure, intelligent and future-ready banking solutions using Quantum Computing and Artificial Intelligence. It will bring together industry, academia, startups and government agencies for research, innovation, incubation and acceleration of financial technologies, focusing on cybersecurity, fraud detection, operational efficiency, risk management and customer experience.
July 23, 2026
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Foreign investment in inventory-based e-commerce is allowed only for exports of Indian-made goods, while domestic retail remains prohibited.
Foreign direct investment in inventory-based e-commerce is permitted exclusively for exports of goods or products manufactured or produced in India. Restrictions on business-to-consumer and inventory-based e-commerce do not apply to these exports, subject to the Foreign Trade Policy 2023 and export regulations. Foreign direct investment in inventory-based e-commerce retailing for domestic sales remains prohibited, with the revised position taking effect upon the relevant foreign exchange notification.
July 23, 2026
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Joint Home Loan Eligibility and Shared Repayment Liability Shape Borrowing Capacity, Tax Claims, Documentation, and Exit Planning.
Joint home loans allow eligible applicants to combine income for a single housing loan, while making every co-applicant fully responsible for repayment. Eligibility depends on each applicant's income, financial obligations, credit history, age, repayment capacity and property criteria. Applicants should agree on EMI sharing, ownership proportions and exit arrangements before applying, as removal of a co-applicant requires lender approval and reassessment. Co-owner borrowers may claim applicable interest and principal repayment deductions subject to ownership, contribution and income-tax requirements. Each applicant must provide separate identity, income and banking documentation.
July 23, 2026
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Export competitiveness increasingly depends on regulatory compliance, preferential trade access and diversification into smartphones, medicines, petroleum products and semiconductors.
India's export potential to 2031 is centred on smartphones, polished diamonds, petroleum products and medicines, with the United States, Hong Kong, Japan, China, Singapore and the United Arab Emirates as important markets. New product opportunities include iron ore concentrates, gasoline vehicles and light petroleum oils. Although selected destinations offer duty-free or preferential access, market entry in mature markets increasingly depends on compliance with non-tariff measures, including registration, quality certification, safety documentation and product standards. Semiconductor-related manufacturing is identified as a long-term opportunity supported by expanding electronics capacity, supply-chain diversification and domestic incentives.
July 23, 2026
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Foreign investment in inventory-based e-commerce is permitted exclusively for exports of Indian-manufactured or produced goods under export compliance rules.
Foreign direct investment in inventory-based e-commerce is permitted exclusively for exports of goods or products manufactured or produced in India. Foreign direct investment remains permitted in business-to-business e-commerce and the marketplace model, while business-to-consumer and inventory-based direct sales to consumers remain prohibited except for the specified export activity. Export-oriented inventory-based operations must comply with the applicable Foreign Trade Policy and foreign exchange regulations governing exports.
July 23, 2026
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Women's leadership in credit expands through a Chennai community platform supporting mentorship, inclusive lending practices, and financial ecosystem collaboration.
The Chennai chapter of the 'Credit Goes to HER' initiative provides a platform for women professionals in banking, NBFCs, fintech, housing finance, academia and policy to share knowledge, obtain mentorship and collaborate on inclusive credit practices. It seeks to strengthen women's leadership and participation in the credit ecosystem while supporting responsible lending, financial inclusion, transparency and data-driven decision-making.
July 23, 2026
Show AI Summary
Digital personal-loan campaign combines online collateral-free borrowing, eligibility-based assessment, flexible repayment options and conditional lifestyle rewards for successful disbursals.
Digital personal-loan campaign permits eligible customers to apply online for collateral-free borrowing and receive specified lifestyle rewards upon successful disbursal, subject to campaign terms. Applicants may check an offer, provide personal, financial and employment information, review loan terms, complete know-your-customer and bank-account verification, and undergo assessment. Interest rates, loan amounts and repayment tenures depend on eligibility, credit profile, income and internal assessment. An EMI calculator supports comparison of repayment options and estimation of monthly instalments before application.
July 23, 2026
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Foreign-exchange market pressure weakened the rupee as elevated crude prices and risk sentiment drove trading conditions.
Foreign-exchange market movement saw the rupee depreciate against the US dollar amid elevated crude oil prices linked to heightened West Asia hostilities. Weak domestic equity markets and foreign investor equity outflows contributed to negative sentiment. Market commentary indicated that prospective Reserve Bank of India intervention supported the rupee and could limit sharper depreciation, while shipping-security concerns contributed to elevated oil prices.
July 23, 2026
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Homebuyer refund claims in developer insolvency proceed through pro-rata distribution of funds deposited for eligible buyers.
Homebuyer refund claims connected with demolished residential towers are being considered within the developer's insolvency proceedings. Buyers who have not opted for alternative allotment seek repayment. Eligible refunds are contemplated on a pro-rata basis from funds deposited by the Interim Resolution Professional, subject to the claims process and the availability of deposited funds.
July 23, 2026
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Free trade agreement tariff reductions create investment opportunities for Asia-Pacific manufacturers seeking UK and European market access.
The UK-India Free Trade Agreement is presented as reducing tariffs on advanced machinery and manufacturing-related goods and creating trade and investment opportunities for Asia-Pacific manufacturers seeking UK and European market access. Manchester is promoted as an investment location through its advanced manufacturing cluster, skilled workforce, innovation infrastructure, international links, and available manufacturing and research space. Invest Manchester provides investor support and undertakes international engagement to develop trade, investment and innovation partnerships.
July 23, 2026
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Practical legal training and structured internships strengthen judicial examination preparation, professional skills, and career exposure for law students.
Legal education employability initiatives combine curriculum alignment for judicial and competitive examinations with mentoring, legal drafting practice, research training, and professional interaction. Internships provide practical exposure to courts, judicial institutions, government bodies, law firms, advocates' chambers, corporate legal departments, and non-governmental organisations. Students in integrated and three-year law programmes complete prescribed minimum internship periods, with summer and winter placements commencing after the first year. Specialisation-based internships cover civil, criminal, corporate, cyber, intellectual property, arbitration, taxation, and government or non-governmental legal work.
July 23, 2026
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Student fashion showcase celebrates identity, personal storytelling, craft preservation and conscious creation through nine contemporary design collections.
Student fashion showcase 'Astitva' presented nine contemporary collections exploring identity, belonging, transformation, memory, resilience, grief and cultural heritage through personal design narratives. The collections included a contemporary reinterpretation of Bhujodi weaving, Ajrakh block printing and Kumaoni hand-knitting, emphasising preservation of Indian craft traditions. Recognition included a designer award for the craft-revival collection and a sustainability award for a collection focused on craftsmanship, conscious creation, heirloom design and mindful luxury.
July 23, 2026
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Rupee exchange-rate movements face pressure from elevated crude prices and equity outflows, moderated by possible central-bank intervention.
Rupee exchange-rate movement in early foreign-exchange trading reflected a modest appreciation against the US dollar after depreciation in the preceding session. Possible dollar sales by state-owned banks, widely viewed as central-bank intervention, and a weaker US dollar supported the currency. Elevated crude-oil prices, foreign institutional equity outflows, and negative domestic equity-market sentiment continued to create downside pressure, although expected central-bank support was considered likely to limit losses.

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Customs & Trade

LPG supply: Oppn raises issue in Parliament; crackdown on hoarding in multiple states

March 16, 2026

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New Delhi/Mumbai, Mar 16 (PTI) Amid concerns over LPG supply in many parts of the country, the issue was raised in Parliament on Monday, where opposition and ruling BJP members attacked each other over the energy crisis, even as authorities in multiple states initiated a crackdown on hoarding and black marketing.

Leader of Opposition in Rajya Sabha, Congress MP Mallikarjun Kharge said that the government had claimed that the LPG supply was not affected by the situation in the West Asia but the ground reality is different.

"The LPG crisis has caused widespread panic across the entire nation. Its impact is severely affecting the poor and vulnerable sections, the middle class, ordinary households, restaurants, hostels, and commercial users," he said during the Zero Hour.

This evoked a sharp counter from Union Minister J P Nadda, who accused opposition parties, especially Congress, of not standing with the people but of instigating them.

Nadda said the current West Asia conflict is not due to India and further claimed that a Congress leader has been caught hoarding LPG cylinders.

While the political slugfest was underway in the Parliament, a protest march was taken out in Kolkata against the cooking gas crisis in West Bengal, where Chief Minister Mamata Banerjee claimed the problem was "artificially created".

In other parts of the country, authorities conducted raids and inspections amid increased vigilance to check illegal stockpiling of domestic gas cylinders.

As many as 84 illegally stored LPG cylinders valued at Rs 2.22 lakh were seized from a private premises in Bhiwandi town of Maharashtra’s Thane district, leading to the registration of a case against three individuals under the Essential Commodities Act.

An official said out of 84 cylinders, 34 were filled, and the remaining were empty.

Giving details about the Maharashtra government's crackdown on hoarding and illicit trading of gas cylinders, Food and Civil Supplies Minister Chhagan Bhujbal said 23 cases have been registered and 18 people arrested.

Replying to the issue raised by Congress's Abhijit Wanjarri in the legislative council, Bhujbal listed steps undertaken by the state government to keep the prices under control amid the West Asia crisis.

The state government has formed committees of collectors and superintendents of police at the district level, which carried out 2,129 raids and seized 1,208 cylinders and goods worth Rs 33,66,411, he said.

In Jammu, the administration conducted inspections at multiple LPG outlets amid panic buying and complaints of delivery failures of gas cylinders. Some gas cylinder dealers faced action who were allegedly found violating norms.

Officials insisted there was no shortage of fuel and urged people not to fall prey to rumours; however, long queues were reported at several LPG outlets in Jammu over the past few days.

Though the central government said that there are adequate crude oil and LPG supplies, Jharkhand's minister said that the state is facing a shortage of both domestic and commercial LPG, while Karnataka’s food and civil supplies minister urged hotels to switch to electric stoves temporarily and expressed hope that the situation would improve soon, as additional shipments are expected.

In Delhi, the students’ union at Jawaharlal Nehru University (JNU) gave a call for the march to the office of the dean of students as the food menus in the canteens on the university premises continue to be affected.

Conversely, the Gujarat government said it has an adequate stock of liquefied petroleum gas (LPG), and the supply chain remains uninterrupted.

Addressing a press conference, Mona Khandhar, additional chief secretary, Food, Civil Supplies and Consumer Affairs Department, said that the government has not imposed any restrictions on domestic or commercial use and is taking steps to ensure smooth availability of fuel across sectors.

"The district teams, police system, oil marketing companies and our state-level teams are in constant coordination to ensure that there is no disruption in LPG supply. We are receiving LPG stock continuously, and buffer stock with agencies is also increasing," she said.

Meanwhile, a senior petroleum ministry official said that city gas distribution companies have rolled out incentives to encourage consumers to shift from LPG to piped cooking gas (PNG) to ease pressure on LPG supplies.

Indraprastha Gas Ltd (IGL) - the CNG and piped cooking gas (PNG) retailer in Delhi and adjoining cities - is offering domestic consumers free gas worth Rs 500 if they take a PNG connection and start using it before March 31, while Mumbai-retailer Mahanagar Gas Ltd has announced incentives, including waiver of Rs 500 registration charge for domestic household consumers and Rs 1-5 lakh security deposit for commercial users. Similar promotional measures have also been introduced by GAIL and BPCL, said Sujata Sharma, Joint Secretary, Ministry of Petroleum and Natural Gas (MoPNG).

India imports about 88 per cent of its crude oil, 50 per cent of its natural gas and 60 per cent of its LPG needs. More than half of India's crude imports, about 30 per cent of gas and 85-90 per cent of LPG imports came from West Asian countries, such as Saudi Arabia, Qatar and the UAE, through the Strait of Hormuz.

The conflict has led to a blockade of the Strait of Hormuz, the main transit route for Gulf energy supplies. While India has partly offset crude supply disruptions by sourcing oil from countries, including Russia, gas supplies have been curtailed to industrial users, and LPG availability to commercial establishments, such as hotels and restaurants, has been curtailed by a fifth. PTI TEAM AMJ AMJ

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