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    Asia will remain main driver of global growth: IMF
    PBP EcoAqua Secures Prestigious USD 1 Million Export Order from Kenya''s Leading Hospitality Group, Sarova Hotels
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April 16, 2026
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Asia growth outlook stays resilient as the IMF warns an energy shock may fuel inflation and tighten policy space.
Asia is projected to remain the main driver of global growth, with India and China contributing about 70 per cent of regional expansion. Growth in the region, after reaching about 5 per cent in 2025 despite US tariffs and trade uncertainty, is expected to moderate in 2026 and 2027. The IMF warned that the Gulf crisis energy shock could raise inflation, weaken external balances, tighten financial conditions and narrow policy space, requiring agile monetary policy.
April 16, 2026
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Sustainable in-house glass bottling solutions support premium hospitality operations through training, hygiene compliance and plastic reduction.
Export order for sustainable in-house glass bottled water solutions was secured by PBP EcoAqua from a Kenyan hospitality group for premium hotel operations. The arrangement includes automated glass bottling and water treatment systems, together with installation, technical training, operational familiarisation and dispatch planning. The project emphasises hygiene compliance, operational efficiency and sustainability performance benchmarks, and is intended to reduce dependence on single-use plastic bottles through reusable glass packaging and safe, premium drinking water services.
April 16, 2026
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Bribery and corruption under the Prevention of Corruption Act in a tax refund processing case
A senior Income Tax department employee was prosecuted in a bribery matter for allegedly demanding money to process a TDS refund arising from acquisition-related compensation. The case was tried as a corruption prosecution under the Prevention of Corruption Act, with the anti-corruption agency brought in after the complainant approached it. Trial evidence included examination of ten witnesses.
April 16, 2026
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China's first-quarter GDP growth reflects stronger supply, improved demand and resilience despite external geopolitical and trade pressures.
China's economy recorded five per cent growth in the first quarter, with GDP reaching 33.4 trillion yuan and growth accelerating from the previous quarter despite external fallout from the US-Israel war and wider geopolitical and trade uncertainties. The National Bureau of Statistics described the opening of the 15th Five-Year Plan period as a strong start, noting improved production and supply, firmer market demand, generally stable employment, moderately higher prices and continued progress in high-quality development.
April 16, 2026
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AML/CFT cooperation expands as FIU-India and pension regulator deepen information sharing, training, risk monitoring, and compliance oversight.
Financial Intelligence Unit-India and the Pension Fund Regulatory and Development Authority entered into a Memorandum of Understanding to strengthen coordination for combating money laundering and financial crimes through enhanced information sharing, joint outreach and training, and closer supervisory cooperation. The arrangement is directed towards improving AML/CFT capabilities among entities regulated by the pension regulator and aligning cooperation with applicable international standards, including exchange of information through Egmont Principles with foreign FIUs. It also provides for quarterly meetings, nodal officers, assessment of ML/TF risks, red flag indicators, and monitoring of compliance with PMLA, the PML Rules, and PFRDA guidelines.
April 16, 2026
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Money laundering coordination through FIU-IND and SEBI MoU strengthens intelligence sharing, AML/CFT training, and compliance monitoring.
Financial Intelligence Unit-India and the Securities and Exchange Board of India entered into a Memorandum of Understanding to strengthen coordination in the prevention of money laundering and financial crimes. The arrangement provides for sharing of relevant intelligence and information, reporting procedures under the PML Rules, exchange with foreign FIUs, outreach and training on AML/CFT capabilities, periodic meetings, risk assessment, red flag indicators, and supervision of compliance with obligations under the PMLA, PML Rules, and SEBI guidelines.
April 16, 2026
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Digital insurance servicing expands as LIC launches customer and intermediary apps for paperless policy management and sales support.
LIC launched the MyLIC customer app and Super Sales Saathi intermediary app as part of its digital transformation initiative. MyLIC consolidates policy servicing, claims support, payments, documentation, and customer engagement, while also enabling portfolio management, premium payment, policy updates, online revival of lapsed policies, paperless loans, online purchase of policies, and paperless e-KYC. Super Sales Saathi provides digital sales tools, policy status tracking, automated follow-ups, customer communication, AI-driven nudges, sales kits, and performance dashboards.
April 16, 2026
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Naval blockade enforcement against Iranian ports creates maritime uncertainty, inspection risks, and exceptions for humanitarian shipments.
US naval blockade of Iranian coastal areas and ports has been fully implemented, extending beyond the Strait of Hormuz into the Gulf of Oman and the Arabian Sea. It applies to vessels entering or leaving Iranian ports and coastal areas, while non-Iran-bound vessels retain freedom of navigation. Humanitarian shipments including food and medical supplies essential for civilian survival are permitted subject to inspection, and neutral ships may pass but remain liable to inspection. The blockade has created uncertainty because enforcement may occur after vessels clear the strait, and AIS manipulation further complicates maritime monitoring.
April 15, 2026
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Centre of Excellence advances artificial intelligence, cybersecurity and digital skills through new training and innovation initiatives.
A state-of-the-art Centre of Excellence was inaugurated at Maharana Pratap Institute of Technology in Eastern Uttar Pradesh with support from TCS Foundation. The centre is intended to serve technological and educational needs in the region and is positioned as a platform for youth, farmers and women across Eastern Uttar Pradesh and adjoining areas. It will focus on artificial intelligence, machine learning, data science, cybersecurity, space technology and 3D printing.
April 15, 2026
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Forgery of identity and immigration documents alleged in illegal stay case involving fake Aadhaar and border-entry violations.
Forgery of identity and immigration documents alleged in the context of illegal stay in India. A Bangladesh-origin woman was apprehended during a verification drive after police found that she was allegedly residing in India using a fake Aadhaar card and other forged or suspect identity documents, including a Bangladesh identity card and a photocopy of a citizenship certificate. Investigators stated that she had entered India illegally with the assistance of an acquaintance and had prepared forged documents to conceal her identity.
April 15, 2026
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Money laundering probe over alleged bank loan fraud and shell companies leads to arrests of former Reliance Group executives.
Enforcement Directorate action under the Prevention of Money Laundering Act in an alleged bank loan fraud investigation involving former senior executives of Anil Ambani-led Reliance Group companies. The case concerns alleged diversion of bank funds through Reliance Home Finance Ltd. and Reliance Commercial Finance Ltd. using shell or dummy entities, with the money laundering probe stated to stem from FIRs lodged by the Central Bureau of Investigation.
April 15, 2026
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Anti-conversion concerns and harassment allegations spur calls for nationwide protests and stricter laws.
Calls were made for nationwide protests over allegations of sexual harassment and forced religious conversion at a company office in Nashik. The allegations involved eight female employees, while a Special Investigation Team was said to have been constituted to examine the complaints. The company stated that it has a zero-tolerance policy toward harassment or coercion and that employees allegedly involved had been suspended. Broader demands were also raised for stringent anti-conversion laws at state and national levels.
April 15, 2026
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Electronics import dependence deepens as imports rise sharply and exports remain far below import levels.
Electronics imports crossed the USD 100 billion mark in 2025-26, rising to USD 116.17 billion from USD 98.65 billion in the preceding fiscal year. Electronics exports also increased to USD 48.0 billion, supported by smartphone shipments, but remained well below imports. The trade pattern was noted as indicating continued dependence on imported semiconductors, components and electronic equipment despite the manufacturing push.
April 15, 2026
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Trade uncertainty and Middle East disruption weigh on exports as imports fall and the trade deficit narrows.
Goods exports declined in March because of trade uncertainty and geopolitical tensions, with shipments to West Asia and the Middle East contracting sharply. Imports also fell, led by lower crude oil and gold shipments, narrowing the trade deficit to a nine-month low. For the full fiscal year, exports reached an all-time high, imports rose, and the trade deficit widened. Services exports stayed robust, while China emerged as India's largest trading partner.
April 15, 2026
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China becomes India's largest trading partner as bilateral trade expands and the trade deficit widens sharply.
China emerged as India's largest trading partner in 2025-26, displacing the US after four consecutive years of US leadership. Bilateral trade with China rose to USD 151.1 billion, driven by higher exports and imports, and India's trade deficit with China widened to USD 112.16 billion. Trade with the US remained significant, but export growth was modest and imports increased more sharply, reducing India's trade surplus.
April 15, 2026
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Trade disruption and export slowdown in India deepened as West Asia conflict affected shipping and import flows.
India's merchandise exports declined sharply in March amid the West Asia crisis, while imports also fell, leading to a narrower trade deficit. The fall in outbound shipments was linked to disruption in international shipping routes, higher freight and insurance costs, and reduced trade with the Middle East, particularly in goods such as gems and jewellery, rice, engineering goods, petroleum products and electronic items. Lower crude oil and gold imports also contributed to the reduced deficit.
April 15, 2026
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Modern tax administration under the Income Tax Act, 2025 stresses transparency, fairness, compliance, and taxpayer trust.
The Income Tax Act, 2025, effective from April 1, 2026, is described as a significant step towards a modern, simple and transparent tax system. Taxation is presented as a bridge of trust between the State and citizens, requiring a system that is effective, just, sensitive and balanced, avoids unnecessary burdens, and respects honest taxpayers. The role of tax officers is to ensure correct, transparent and effective implementation.
April 15, 2026
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Money laundering cognisance in a Haryana land deal case proceeds on ED chargesheet and limited inquiry at this stage.
A Delhi court took cognisance of an ED chargesheet in a money laundering case linked to a Haryana land transaction and found sufficient material to proceed against the named accused. It held that the cognisance stage is limited to the complaint and annexed documents, that there is no legal bar to proceeding before the predicate-offence charge-sheet is filed, and that one accused could not be summoned for lack of material.
April 15, 2026
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Telecom-linked financial frauds meet coordinated data sharing as regulators deepen intelligence exchange to flag suspicious mobile numbers and protect investors.
The Department of Telecommunications and the Securities and Exchange Board of India entered into a Memorandum of Understanding to strengthen coordination against telecom-linked financial frauds, securities market scams and investment-related cyber abuse. The arrangement establishes a structured framework for data sharing and intelligence exchange between telecom and market-regulatory systems, with the objective of identifying suspicious mobile numbers, fraudulent connections and telecom resources used in impersonation, cyber fraud or money mule activity. The MoU also contemplates standard operating procedures for coordinated response and institutional sharing of red-flag indicators.
April 15, 2026
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Trade pact recalibration drives India-US negotiations as tariff changes and Section 301 probes reshape the talks.
India and the United States are resuming chief-negotiator level talks on the proposed bilateral trade pact to finalise the legal agreement and adjust it to changes in the US tariff environment. The interim understanding reached in February now requires recalibration because the tariff architecture has changed, and the discussions will also cover recent Section 301 investigations and India's response to them.

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Customs & Trade

Maharashtra's Pollution Control Chief Takes India's Environmental Governance Case to Europe

May 8, 2026

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Siddhesh Kadam, Chairman of the Maharashtra Pollution Control Board, addresses Europe's largest plastic recycling summit in Amsterdam, becoming the first Maharashtra environmental official to represent India at the Plastic Recycling Show Europe, and places the country's traceability framework on the global map. Mumbai, Maharashtra, India & Amsterdam, Netherlands --- Business Wire India Siddhesh Kadam, Chairman of the Maharashtra Pollution Control Board (MPCB) and a Shiv Sena leader within Maharashtra's Mahayuti ruling alliance, appeared before a high-profile international panel at the Plastic Recycling Show Europe 2026 (PRSE 2026) in Amsterdam on 6 May, becoming the only serving Indian government official on the panel and the first Maharashtra regulator to address this global forum. The panel, titled 'Importance of Traceability for Global Plastic Trade,' brought together regulators, recycling industry leaders, and policymakers from across Europe and Asia at what is widely recognised as the continent's pre-eminent plastic industry event. For Mr. Kadam, the appearance was both a platform and a responsibility, to represent India's regulatory position at a moment when global plastic governance is in active and consequential flux. Central to Mr. Kadam's address was a fact that surprised several European delegates: India's national plastic packaging traceability system is already operational. Since 1 July 2025, every plastic packaging unit produced or sold in India must carry a machine-readable QR code or barcode linked in real time to the manufacturer's registration on the Central Pollution Control Board's EPR portal, a mandate that covers over twenty million tonnes of plastic annually, with no exemptions by industry sector or company size. Cross-referencing with GST registration data ensures the system has teeth. The European Union's comparable mechanism, the Digital Product Passport under the Ecodesign for Sustainable Products Regulation, is projected to extend to plastics and packaging only around 2028 to 2030. India's system is live today, at a national scale no single European country can match. Mr. Kadam placed this fact before the Amsterdam audience without triumphalism, framing it instead as the basis for a bilateral technical conversation between India and Europe on aligning their respective traceability architectures. "India is not asking to be written into the global plastic conversation. It is already in it with a framework, with enforcement data, and with the scale that makes its participation indispensable to any solution that actually works." — Siddhesh Kadam, Chairman, MPCB, at PRSE 2026, Amsterdam 1 Jul 2025 National QR traceability — live 20M+ T Plastic covered by the mandate 30%→60% Recycled content target, rigid packs ~$982M India EPR credit market, 2024 On Maharashtra's enforcement record, between June 2024 and January 2025, MPCB flying squads conducted over fifteen thousand retail inspections across the state's thirty-six districts, seized fourteen and a half tonnes of illegal single-use plastic, and imposed penalties on nine hundred retailers, a ground-level compliance exercise that gave his international audience a concrete measure of regulatory intent. He also offered European delegates an unfamiliar perspective on India's circular economy infrastructure: the four million informal waste workers, ragpickers, kabadiwalas, and scrap aggregators who recover approximately eighty percent of urban plastic in Indian cities, contributing nearly seventy percent of all PET recycling, at near-zero public expenditure. He noted that India's 2025 EPR amendments have begun formally integrating this workforce into the verified supply chain, enabling EPR credits to flow through recyclers who can document their sourcing from informal collectors. The argument drew a pointed response from European panellists accustomed to framing informality as a governance gap rather than a cost-effective circularity model. "Four million Indians collect, sort and channel plastic every single day — without a deposit-return scheme, without a government subsidy, without a fleet of collection trucks. Europe spends billions to do what they do organically. That is not a problem. That is a lesson." — Siddhesh Kadam, Chairman, MPCB, at PRSE 2026, Amsterdam Mr. Kadam also addressed the crisis gripping European plastic recycling, nearly one million tonnes of operational capacity lost between 2023 and 2025, with plant closures rising by fifty percent in the first half of 2025 alone, despite industry investment of five billion euros in the preceding three years. He attributed the collapse not to a failure of capital or technology but to an enforceable traceability gap: the inability of regulators to reliably distinguish verified recycled material from cheaper, mislabelled virgin plastic imports had made the market for genuine recyclates commercially untenable. On the European Commission's planned 2026 import controls, new customs codes to distinguish virgin from recycled plastic, and expanded audits of overseas processing facilities, Mr. Kadam offered India's position directly: traceability-based import requirements are legitimate regulatory instruments, provided they are applied on consistent terms to all market participants. India supports the principle; it reserves judgment on the implementation. He further proposed that MPCB and India's CPCB are ready to engage with European counterparts on technical alignment between India's QR architecture and the EU's Digital Product Passport, noting that the two frameworks are built on compatible international standards and that interoperability is achievable with political commitment on both sides. Speaking on the United Nations negotiations towards a global legally binding treaty on plastic pollution, Mr. Kadam called for the adoption of a universal plastic traceability data standard as a core treaty instrument, a single data language that would allow regulators across jurisdictions to verify material provenance and recycled content along the full supply chain. The proposal found visible traction among European delegates, several of whom engaged Mr. Kadam in further discussion on the sidelines of the session. "The global plastic crisis will not be resolved by one continent's regulations or one country's ambition. It will be resolved when the major economies agree on a common language for traceability — and then enforce it. India is ready to help write that language." — Siddhesh Kadam, Chairman, MPCB, at PRSE 2026, Amsterdam Mr. Kadam's participation at PRSE 2026 represents a significant step in India's engagement with the international environmental governance agenda at a practitioner level. His presence on the panel as a serving regulator responsible for enforcing plastic waste rules across a jurisdiction of one hundred and thirty million people, gave India's position a specificity and credibility that is often absent from high-level diplomatic statements on environmental matters. Officials in Mumbai indicated that follow-up bilateral conversations with European regulatory counterparts are now being explored. About MPCB The Maharashtra Pollution Control Board is the statutory environmental regulatory authority for Maharashtra, India’s most industrially significant state, with jurisdiction over 130 million people. It operates under the Water (Prevention and Control of Pollution) Act, 1974, and is the designated enforcement body for national plastic waste management rules within the state. All data cited in this release is drawn from official MPCB press releases, the CPCB public EPR portal, Plastics Recyclers Europe industry reports, and the OECD's May 2025 report on global plastic waste trade. This release may be reproduced with attribution to MPCB and IdeateLab. To View The Image, Click On The Link Below: Shri Siddhesh Kadam, Chairman MPCB in conversation at the PRSE 2026, Amsterdam (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI PWR

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