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    Exports dip marginally to USD 36.61 billion in February
    Wholesale price inflation rises 2.13 pc in February
    Rupee falls 13 paise to 92.43 against US dollar
    Advisory on the Payment of pre-deposit while filing of appeal before First Appellate authority
    Department of Commerce organizes Chintan Shivir on strengthening India’s Medical Devices export ecosystem
    IICA Convenes Fifth Inter-Ministerial Consultation on Responsible Business Conduct and Social Dimension of ESG
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    DRI cracks down on organised gold smuggling and illegal melting racket operating in Delhi and Kolkata; gold, silver and cash worth ₹14.13 crore ...
    Funeral held for Turkish truck driver killed in missile strike in Iran
    Maharashtra govt will look into hotel sector's commercial gas supply concerns: Bhujbal
    Indian crude tanker sails out of UAE's Fujairah safely
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    I-T deptt asks taxpayers to ignore 'significant transaction' alert on email
    The Latest: Iran threatens UAE ports as war enters third week
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March 16, 2026
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Trade deficit widens as merchandise exports dip and imports surge, signalling supply-chain and geopolitical risks to trade.
Merchandise exports fell marginally in February while imports rose sharply, producing a monthly trade deficit; year to date exports rose modestly but imports grew faster. The Commerce Secretary warns of expected export softness in March due to logistical disruptions from the West Asia crisis, with trade-route interruptions, notably in the Strait of Hormuz, cited as the principal constraint on outbound shipments.
March 16, 2026
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Wholesale price inflation rises driven by food and non-food articles, while retail inflation also edges upward.
Wholesale price inflation rose to 2.13% in February led by increases in food articles and manufactured products, with non-food articles spiking; fuel and power continued to record negative inflation. Retail inflation also rose to 3.2% in February, and the central bank has lowered policy rates in the current fiscal year while focusing on retail inflation for benchmark rate decisions.
March 16, 2026
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Foreign exchange stability: rupee weakened as capital outflows and reserves decline increased market pressure.
Foreign exchange stability: the rupee weakened against the US dollar as foreign portfolio outflows, higher global crude prices and volatile equity markets drove the currency to near intra day lows; exchange data showed significant FII net selling and a notable weekly decline in forex reserves reported by the central bank, highlighting interacting external and domestic drivers relevant to reserve management and market stability.
March 16, 2026
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Pre-deposit linkage: link DRC-03 payments via DRC-03A on portal to avoid duplicate pre-deposit when filing appeal.
Payments made through Form GST DRC-03 are not automatically recognised against a Demand ID for pre-deposit calculation. Taxpayers must file Form GST DRC-03A on the GST portal to map the DRC-03 payment to the relevant Demand ID so that the Electronic Liability Register reflects the adjustment and the automated pre-deposit check will not require duplicate payment when filing an appeal.
March 16, 2026
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Regulatory harmonization for medical devices drives export policy to expand global market access and manufacturing competitiveness.
Strengthening India's medical devices export ecosystem focuses on regulatory harmonization, streamlining approval processes, and coordination between industry and regulators to reduce compliance bottlenecks and facilitate exports, supported by trade policy measures to improve market access. Complementary measures include development of manufacturing clusters, expansion of testing and certification capacity, and incentives for research and development and innovation to build global brand recognition and scale high value manufacturing.
March 16, 2026
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Responsible Business Conduct: integrating ESG into corporate reporting, labour protections and insolvency frameworks for better market alignment.
The consultation advanced embedding Responsible Business Conduct and the social dimension of ESG across corporate, labour and financial frameworks by mapping national initiatives to the National Guidelines on Responsible Business Conduct, aligning SEBI's Business Responsibility and Sustainability Reporting with labour and social data, designing tiered compliance mechanisms for smaller enterprises, and exploring integration of employee wage protection and ESG considerations into insolvency and restructuring under the Insolvency And Bankruptcy Code.
March 16, 2026
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Unclaimed dividend facilitation enabling direct investor access to recovery, KYC update, and on site grievance redressal services.
Facilitation of unclaimed dividends and shares via a one stop public outreach event connecting investors directly with companies and Registrars and Transfer Agents, offering on the spot KYC updates, nomination services, and immediate assistance for pending claims to streamline grievance redressal and recovery of long held unclaimed assets.
March 16, 2026
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Smuggling of foreign-origin gold disrupted with seizures and arrests under customs enforcement, highlighting illegal melting and transport.
An enforcement operation uncovered an organised syndicate smuggling foreign-origin gold into India, transporting it by rail to illegal melting facilities where the gold was defaced to remove identifying marks before sale; seizures under the Customs Act, 1962 recovered gold, silver and currency and six persons involved in the collection, transport, melting and disposal were arrested.
March 15, 2026
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Strait of Hormuz access disrupted, prompting multinational responses and elevated risks to regional shipping and energy flows.
A civilian freight convoy returning from Afghanistan to Turkey was struck near Zanjan in northwest Iran, killing a Turkish truck driver and leaving his vehicle shredded by shrapnel with a large crater at the site. Concurrent regional developments include restrictions on Strait of Hormuz access for certain states, discussion of strikes on energy infrastructure, a planned phased partial shutdown by a major aluminum producer due to blocked exports, and humanitarian and ordnance-clearance responses to civilian impacts.
March 15, 2026
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Domestic gas priority may limit commercial hotel supplies; government seeks balanced approach to prevent operational disruptions.
The central advisory mandates uninterrupted household PNG and CNG supply and has led to regulated reductions in industrial and commercial gas deliveries, with commercial LPG allocated to states for priority distribution; Maharashtra will review hotel sector concerns and seek a balanced approach to protect domestic consumers while addressing commercial supply hardships.
March 15, 2026
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Maritime safety: Indian-flagged tanker sailed from UAE after terminal attack, ensuring crew safety and fuel supply continuity.
An Indian-flagged crude tanker departed Fujairah safely after an attack on the oil terminal, with all crew reported safe. The Directorate General of Shipping has activated a control room to monitor vessel movements, handle communications, facilitate repatriation and coordinate with ship owners, RPSL agencies, Indian Missions and central ministries to ensure maritime safety, seafarer welfare and continuity of fuel supplies amid disruptions to Gulf shipping routes.
March 15, 2026
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Piped gas priority: consumers with PNG must surrender domestic LPG connections, suppliers barred from providing refills.
The Ministry amended the LPG (Regulation of Supply and Distribution) Order to require consumers with PNG connections to surrender domestic LPG connections and forbade Government oil companies and distributors from providing domestic LPG connections or refills to consumers who already own PNG, while PNGRB instructed CGD companies to prioritise and accelerate domestic PNG rollout, deployment, permissions, and last-mile connectivity to reduce pressure on LPG supplies.
March 14, 2026
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Energy security measures bolster fuel supply and exporter support amid West Asia supply disruptions with insurance cover and diversified imports.
The government has increased kerosene production as an alternative cooking fuel, diversified LPG/LNG and crude import sources to mitigate shipping-route disruptions, and maintained sufficient fuel stocks. The Commerce Ministry is engaging stakeholders through a 24-hour helpline and developing schemes that provide insurance cover for export cargo damaged, lost or delayed due to maritime disruptions, with a forthcoming concrete action agenda to support exporters.
March 14, 2026
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Advance tax e campaign alerts: taxpayers told to ignore inaccurate emails and verify transactions on the Compliance Portal.
The tax authority advised taxpayers to ignore recent email alerts about significant transactions from the Advance Tax e Campaign because some messages contained inaccurate transaction details; it is coordinating with its service provider to resolve the issue and directed taxpayers to verify details using the e Campaign tab on the Compliance Portal via the e Filing portal to ensure appropriate advance tax compliance.
March 14, 2026
Show AI Summary
Attack on critical port infrastructure declared legitimate targets, prompting evacuation warnings and heightened risks to energy transit.
Iran threatened strikes on UAE ports, urging evacuation of Jebel Ali, Khalifa and Fujairah after alleging US forces operate from those civilian facilities and thereby designating them legitimate targets; the warning accompanies ongoing missile and drone exchanges, reported damage to Iran's Kharg Island oil export terminal and disruption of the Strait of Hormuz, while the UAE detained foreigners for posting alleged war-related disinformation.
March 14, 2026
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Exhibition centres to be established to boost industry and exports, providing platforms for product showcases and value-added agriculture.
The Punjab government will establish three world-class exhibition centres at Ludhiana, New Chandigarh and Amritsar to give industry dedicated venues to showcase products, boost commerce, attract investment and support export-oriented growth as part of a wider strategy to expand food processing, encourage agricultural diversification, and increase farmer incomes through value addition.
March 14, 2026
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Production Linked Incentive Scheme drives domestic manufacture of a critical antibiotic intermediate to reduce import dependence and boost supply resilience.
The project establishes domestic manufacture of the critical antibiotic intermediate Amino Cephalosporanic Acid (ACA) in Kathua, financed under the Production Linked Incentive Scheme with public facilitation, aiming to reduce import dependence, strengthen pharmaceutical supply resilience, generate local employment, and align with the Biopharma Shakti policy to expand national biopharmaceutical capacity.
March 14, 2026
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Police appointments: state upgrades and reassigns senior intelligence and economic offences officers, creating additional charges for related posts.
The state government upgraded and appointed B Bala Naga Devi from Additional DGP, Intelligence to DGP, Intelligence, while assigning additional charge to Santosh Kumar as Additional DGP, Economic Offences Wing and to Rupesh Kumar Meena as Additional DGP, Civil Supplies CID to maintain leadership continuity across those divisions.
March 14, 2026
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Industry support pledged to strengthen domestic manufacturing and reduce reliance on imports, with state backing for exporters.
Commitment to state-led industry support in Punjab to promote domestic manufacturing, reduce dependence on imported consumer goods, provide required environment and resources to enable local manufacturers to compete with foreign suppliers and begin exporting, and remove government interference to restore regional industrial competitiveness.
March 14, 2026
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Electricity tariff reduction sought to offset rising production costs amid fuel supply disruption and request for repayment moratorium.
Industrial associations in Chhatrapati Sambhajinagar formally sought a reduction in electricity tariffs to alleviate rising production costs from disrupted fuel supplies, alongside a moratorium on loan repayments and expedited permits for alternative fuels; these demands were compiled after an administrative request and presented to the State Industries Minister, who acknowledged limited gas stocks but urged continued operations.

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Customs & Trade

Japan's leader heads to Washington for visit complicated by Iran war fallout

March 18, 2026

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Tokyo, Mar 18 (AP) Japanese Prime Minister Sanae Takaichi is travelling Wednesday to the United States for what she expects to be a “very difficult” meeting with US President Donald Trump after he called on Japan and other allies to send warships to secure the Strait of Hormuz.

The three-day visit to Washington was originally expected to focus on trade and strengthening the US-Japanese alliance as China's influence grows in Asia. It is now expected to be overshadowed by the war the United States and Israel launched against Iran on February 28.

”I think the US visit will be a very difficult one, but I will do everything to maximise our national interest and to protect the daily lives of the people when the situation changes daily," Takaichi told parliament on Wednesday, hours before her departure.

Takaichi held her first meeting with Trump in October in Tokyo, days after becoming Japan's first female prime minister. A hard-line conservative, Takaichi is a protege of former leader Shinzo Abe, who developed a close friendship with Trump.

Her initial plan was to focus largely on China and strengthen the Japan-US alliance ahead of Trump 's highly anticipated diplomatic trip to China that had been planned for months. The White House announced Tuesday that it is being delayed due to the war in the Middle East.

Takaichi will be in the hot seat figuring out what best to offer to Trump. Experts say showing commitment and progress in investment deals is key to a successful summit.

Japanese officials say the two sides will work to deepen cooperation in regional security, critical minerals, energy and dealing with China.

No plan to send warship to the Strait of Hormuz A key US ally in Asia, Japan has carefully avoided clear support for the US-Israel strikes on Iran or a decision over a warship deployment. That's mainly because of Japan's constitutional constraints but also due to a legal question over the US action and strong public opinion against it.

She told parliament that Japan hopes to see a de-escalation of the war, which has disrupted deliveries of oil and gas that Japan is highly dependent on.

“Without early de-escalation of the situation, our economy will be in trouble,” she said. “Early de-escalation is important for both the US and global economy.” Japan also hopes to secure its traditional ties with Iran, where most of Japanese oil imports come from.

Takaichi and her ministers have denied that Washington officially requested Japanese warships sent to the Strait of Hormuz. Trump on X asked a number of countries, including Japan, to volunteer. He then said he no longer needs them, complaining about a lack of enthusiasm.

That takes some pressure off Takaichi.

“We have no plans to send warships right now," Takaichi told the parliamentary session Wednesday. A dispatch for survey and intelligence missions are possible but only after a ceasefire, she said. Some Japanese experts have commented that minesweeping would be a mission that the country could carry out when hostilities end.

“I will clearly explain what we can do and cannot do based on the Japanese law,” Takaichi said. “I'm sure (Trump) is fully aware of the Japanese law.” China and security Takaichi wants to discuss China's security and economic coercion and ensure the US commitment in the Indo-Pacific region, especially as some US troops stationed in Japan are being shifted to the Middle East — a change seen by Japan as a potential risk for Asia as China's clout grows.

Takaichi plans to reassure Trump of Japan's military buildup, emphasising the acceleration of long-range missile deployment to enhance offensive capabilities. This breaks from Japan's postwar self-defense-only principle and reflects closer alignment with the US.

At the summit, Takaichi is expected to convey Japan's interest in joining America's "Golden Dome" multi-billion dollar, multi-layered missile defence system.

Japan considers China a growing security threat and has pushed a military buildup on southwestern islands near the East China Sea.

Takaichi has pledged to revise Japan's security and defense policy by December and seeks to further bolster Japan's military with unmanned combative weapons and long-range missiles.

Her government is to scrap a lethal arms exports ban in the coming weeks to promote Japan's defence industry and cooperation with the United States and other friendly nations.

Oil in Alaska, rare earths in Japan A resource-poor nation, Japan is seeking to diversify oil suppliers and is finalising a Japanese investment for increased oil production in Alaska and stockpiles in Japan, according to media reports.

A Japanese investment in small modular reactors and natural gas in the US is also a possibility.

If agreed, the projects would be part of a USD 550 billion investment package that Japan pledged in October. In February, the two sides announced Japan's commitment to the USD 36 billion first batch of projects — a natural gas plant in Ohio, a US Gulf Coast crude oil export facility and a synthetic diamond manufacturing site — whose progress is also to be discussed with Trump.

Japan reportedly plans to propose a joint development of rare earths discovered in undersea soil around the remote Japanese island of Minamitorishima as part of the investment package.

Diplomatic and trade disputes have escalated further since Takaichi's comment that any Chinese military action against Taiwan could be grounds for a Japanese military response. (AP) PY PY

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