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    Odisha's export can reach USD 50 billion by FY 2029-30: Study
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August 1, 2026
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Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
August 1, 2026
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GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
August 1, 2026
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Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
August 1, 2026
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PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
August 1, 2026
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Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
August 1, 2026
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GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
August 1, 2026
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Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.
August 1, 2026
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GST collection growth in West Bengal continued year-on-year in July but remained below the national growth trend.
West Bengal's July GST collection increased year-on-year and over the preceding month, marking a second consecutive month of annual growth. Official data also indicated that the State's annual growth rate was below the national trend, while gross domestic GST revenue excluding imports and overall gross GST collections including import-related taxes rose nationally during July.
August 1, 2026
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GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
August 1, 2026
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Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
August 1, 2026
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Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.
August 1, 2026
Show AI Summary
Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.
August 1, 2026
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Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
July 31, 2026
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Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
July 31, 2026
Show AI Summary
Greenfield airport development under a public-private partnership advances licensed international passenger, cargo, logistics, and sustainable infrastructure.
A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.
July 31, 2026
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Regulatory and legal developments cover trade measures, legislative action, offshore exploration support, court directions and platform algorithm scrutiny.
The compilation reports proposed United States tariff measures concerning purchasers of Russian oil and gas, India-United Kingdom trade engagement, extension of farmer-support measures, and approval of offshore exploration support. It also covers passage of the Registration of Births and Deaths (Amendment) Bill, 2026, a privilege-motion notice, a criminal sentencing, and directions to appoint a nodal officer for families affected by the Russia-Ukraine war. Regulatory items include industrial credit data and examination of social-media algorithms, bias and public-order implications.
July 31, 2026
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Russian oil purchases may trigger proposed targeted tariffs, with periodic reassessment based on countries' purchasing behaviour.
Proposed United States measures would authorise sanctions against Russia and persons supporting its war in Ukraine, while permitting targeted tariffs on imports from countries purchasing substantial volumes of Russian oil or gas or facilitating sanctions evasion. The framework identifies major purchasers and shadow-fleet facilitators for possible additional tariffs and provides for periodic reassessment and tariff adjustments based on purchasing behaviour. India stated that its energy-security policy rests on national priorities and diversified energy sources.
July 31, 2026
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Money-laundering proceedings face challenge over absent predicate offence, alleged lack of criminal intent, and treatment of related FIRs.
Money-laundering proceedings linked to alleged diversion of homebuyer funds are challenged on the ground that no scheduled offence or criminal intent is attributable to the petitioner. The petitioner relies on his asserted exoneration in two predicate FIRs, where charge sheets did not name him, and settlement of the remaining FIR. Notice was issued for a response and status report, and the petitioner undertook to cooperate with the investigation.
July 31, 2026
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Rupee appreciation reflected foreign capital inflows and central bank support, tempered by crude prices and geopolitical tensions.
Rupee appreciation against the US dollar was linked to sustained foreign capital inflows and Reserve Bank support through dollar selling. Higher crude oil prices, a stronger US dollar and geopolitical tensions in West Asia constrained further gains. A slightly positive near-term rupee bias was associated with softer dollar conditions, dovish US monetary expectations, favourable global markets and improved foreign inflows, while geopolitical risks remained relevant. Domestic equity indices rose, foreign-exchange reserves increased, and fiscal-deficit data showed the central government's position against its full-year target.
July 31, 2026
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India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.

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Customs & Trade

How US blockade on Iran sanctioned ships turning around

April 16, 2026

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Frankfurt, Apr 16 (AP) The US Navy is imposing a sea blockade against Iran — the latest escalation in the war that has seen the flow of key energy supplies choked off at the Strait of Hormuz.

The blockade that started Monday “has been fully implemented”, according to a statement Wednesday from Adm Brad Cooper, commander of the US Central Command.

“US forces have completely halted economic trade going in and out of Iran by sea,” he said. The blockade could put serious pressure on the Iranian economy.

Shipping data firms say Iran-linked or sanctioned vessels have left the Gulf through the Strait — but then stopped or turned around. An uncertain and risky shipping situation is being complicated by jamming or faking of location systems.

The blockade is being enforced “impartially against all vessels of all nations entering or leaving coastal areas or ports in Iran”. Freedom of navigation remains for vessels not entering Iranian ports, Central Command said.

The US military will operate the blockade in the Gulf of Oman beyond the strait, a US official told The Associated Press.

The US official, who spoke on condition of anonymity to discuss sensitive military operations, explained that the strategy is to observe vessels subject to the blockade leave Iranian facilities and clear the Strait of Hormuz before intercepting them and forcing them to turn around.

The official said that the military relies on more than just automated tracking beacons that all merchant ships are required to carry, called AIS, to determine merchant ships were coming from a port in Iran, but wouldn't go into more detail citing the need for operational security.

US Central Command said in a statement Wednesday that no vessels have made it past US naval forces during the first 48 hours of the blockade on ships entering and exiting Iranian ports.

Central Command said that nine vessels have complied with directions from US forces to turn around and return toward an Iranian port or Iran's coastal area. Navy warships are telling merchant ships that they are ready to board them and use force to compel compliance.

On Tuesday, the first full day of the blockade, only eight vessels, most of them linked to Iran or sanctioned, transited the strait, said Ana Subasic, trade risk analyst at data and analytical firm Kpler. The operating environment is still considered “extremely high risk” despite the current ceasefire, she said.

"Most of the vessels have appeared to halt or have reduced movement after clearing the strait," she said, "which tells us that the effect of the blockade is starting to show up because most of these vessels that have crossed have some kind of history with carrying Iranian-origin sanctioned cargo." One sanctioned vessel, the Rich Starry tanker carrying methanol, left the Persian Gulf through the strait but then halted, did a U-turn and went back through the strait, she said.

Maritime intelligence firm Windward said that vessel behaviour was “indicating a fragmented and uneven response to the blockade” as sanctioned and false-flagged vessels continued to be active, some transiting the strait, others delaying or reversing course.

Iran had blocked the Strait through the threat of attack on shipping, cutting off 20% of the world's daily oil consumption, sending oil prices sharply higher and leading to warnings about higher inflation and recessions in leading economies.

Vessels were hit with aerial and undersea drones as well as unknown projectiles, killing 11 crew members. While those attacks have dwindled, the risk of navigating the area means that ship traffic has dropped by more than 90%.

Some of that blocked oil is making it out from Gulf producing nations through pipelines to the Red Sea and the Gulf of Oman. But those pipelines can't make up for the effective closure of the Strait.

Iran has also started vetting and collecting money from the few vessels daring to pass the strait. Vessels must submit detailed information on cargo and crew to the paramilitary Islamic Revolutionary Guards Corps and pay a USD 1 fee per barrel of oil or fuel products before being allowed to pass, according to Kpler.

US and Israeli vessels are barred while some vessels from Iran, India and China have made it through. India has intervened diplomatically to get its vessels out.

The White House has demanded that Iran reopen the strait.

Blockading the coast puts serious pressure on the Iranian economy, especially its oil industry. Unless it can export oil, available storage will fill up and it will have to shut down wells that are difficult to restart. Additionally, Iran imports gasoline since it lacks the refinery capacity to turn its own oil into fuel.

The terms of the US naval blockade of the Iranian coast have contributed to difficulty for outsiders of ascertaining the state of ship traffic. According to the notice to mariners sent out to ship, the blockade is being enforced in the Gulf of Oman and the Arabian Sea, not at the Strait of Hormuz. So simply passing the strait doesn't mean a vessel beat the blockade.

Additionally, there was a grace period extending until 1400 GMT on Monday for ships to leave Iranian ports. And “humanitarian shipments including food and medical supplies essential for the survival of the civilian populations” will be permitted to pass subject to inspections.

That last provision is in accordance with international law on naval warfare, which permits blockades but bars those that are solely intended to starve civilians, according to a legal guide from the US Naval War College cited by maritime historian Sal Mercogliano, who runs a YouTube channel on shipping.

"Neutral” ships can pass, though they may be inspected, but it's not clear what “neutral” means. Lloyd's List Intelligence maritime data firm said the US move “has plunged shipowners into fresh uncertainty around enforcement”.

So all that means that ships from Iranian ports can be detected passing the Strait — and still face the risk of being stopped farther out. Or not, if they left before the end of the grace period.

Meanwhile container ships seen heading for Iranian ports could be allowed in or out if they're carrying food, or not, if they're carrying other goods.

Meanwhile ships can broadcast false information on their AIS systems used to avoid collisions, or turn the systems off.

The commander of Iran's joint military command warned Wednesday that Iran would completely block exports and imports across the Persian Gulf region, the Sea of Oman and the Red Sea if the US does not lift its blockade on Iranian ports.

“Iran will act with strength to defend its national sovereignty and its interests,” said Ali Abdollahi. He added that the US blockade is “a prelude to violating the ceasefire”. (AP) SCY SCY

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