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June 3, 2026
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Forced labour import prohibitions drive proposed additional duties and a differentiated tariff framework for affected economies.
The US Trade Representative has proposed additional duties on 54 countries, including India, over alleged failures to prohibit imports made with forced labour. The proposal follows investigations into 60 countries and applies a differentiated tariff framework: 10 per cent additional duty for economies with existing or committed forced-labour import prohibitions, and 12.5 per cent for all other economies. A textile mechanism would permit a specified volume of apparel and textile imports from certain economies at a reduced tariff rate.
June 2, 2026
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Trade pact implementation faces delays as India and the UK address steel safeguards and carbon border measures.
India and the UK discussed implementation issues delaying rollout of CETA, with particular concern over Britain's steel safeguard restrictions and proposed carbon border adjustment mechanism (CBAM). The talks focused on identifying the remaining sticking points and examining pathways for effective implementation of the trade pact. Britain's limits on tariff-free steel imports and the introduction of CBAM from 2027 are central to the market access concerns.
June 2, 2026
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International developments span parliamentary disruptions, anti-corruption action, UN recognition, and immigration enforcement across several countries.
Parliamentary proceedings in Nepal were adjourned after protests over border remarks, while other reported developments covered defence trade, anti-corruption action, UN appointments, peacekeeping recognition, online testimony in a disappearance case, condemnation of Hinduphobia and temple attacks, and immigration enforcement against Indian nationals working illegally as truck drivers.
June 2, 2026
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Rupee depreciation against the dollar reflects oil price pressure, dollar strength and foreign fund outflows amid RBI policy watch.
The rupee depreciated against the US dollar amid higher global crude oil prices, a firm dollar, safe-haven inflows and foreign fund outflows. Market participants expected continued pressure from geopolitical tensions and elevated oil prices, while noting that peace talks could moderate the decline. Investors also watched the Reserve Bank of India monetary policy meeting for cues on currency movement, alongside broader market and macroeconomic developments.
June 2, 2026
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State GST collections in Haryana lead the country, driven by strong revenue growth and efficient tax administration.
Haryana reported the highest growth rate among states in state GST collections for May 2026, with a year-on-year increase of 22 per cent against the national average of 6 per cent. The state also ranked first in cumulative growth in state GST revenue for the first two months of 2026-27, with growth of 40 per cent over the comparable period of the previous financial year. The statement attributed the sustained increase to the growing economy of the state and efficient tax administration.
June 2, 2026
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Re-evaluation portal security and online filing rules shape CBSE's answer-book verification process for students seeking review
CBSE reported cyberattacks on its re-evaluation portal and said the online facility for verification of issues in scanned answer books and re-evaluation of answers was available only to students who had obtained scanned copies of evaluated answer books. The portal required Aadhaar-based verification, permitted online-only submission and payment, allowed only one application each for verification and re-evaluation, and treated details as locked after the payment stage was initiated. The process covered specified scanning and evaluation issues, used a limited filing period, and communicated the request outcome after completion.
June 2, 2026
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Artificial intelligence and data science training expands through a new industry-linked lab, certifications and practical learning programmes.
Chandigarh University established an 'IndiaAI Data Lab' in collaboration with Intel India to strengthen student employability through industry-relevant training in artificial intelligence, data science and emerging technologies. The lab is intended to function as a simulated apprenticeship and practical learning space for computing and computer science engineering students, with access to AI tools, real-world projects and hands-on exposure aligned with global industry standards. As part of the same partnership, the university launched MCA (Data Science) and BCA (Data Science) programmes in association with Intel India, with semester-wise Intel certifications to improve industry readiness.
June 2, 2026
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Trade agreement negotiations focus on tariff recalibration, market access commitments, and possible Section 301 trade action.
India and the United States began talks to finalise an interim trade agreement and advance a broader bilateral trade agreement. The framework contemplates tariff reductions on US industrial and agricultural goods, proposed Indian purchases of US products over five years, and possible recalibration in light of changed US tariff conditions and the prospect of fresh action under the Section 301 mechanism.
June 2, 2026
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Wholesale Price Index revision expands coverage, updates methodology and introduces producer price indices for broader price measurement.
Revision of the Wholesale Price Index base year from 2011-12 to 2022-23 has been approved, together with compilation and release of new Producer Price Indices. The revised WPI series, along with Output PPI, Trial Input PPI and Service PPI, is scheduled for release on 15 June 2026 and will replace the existing WPI series. The framework is intended to support transition from WPI to PPI, while allowing a five-year continuation of WPI for price escalation use before discontinuation.
June 2, 2026
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Money laundering investigation over alleged homebuyer fraud leads to arrests of real estate promoters and directors.
Money laundering investigation under the Prevention of Money Laundering Act concerns an alleged homebuyer fraud involving a real estate group that reportedly collected about Rs 2,004 crore from more than 19,425 buyers and investors on promises of timely delivery of residential and commercial units and assured returns. Four promoters and directors were arrested in connection with the probe and produced before the special PMLA court, which granted custodial interrogation. The investigation was initiated on the basis of five FIRs and a criminal complaint filed by the Serious Fraud Investigation Office.
June 2, 2026
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Rupee depreciation against the US dollar weighs on sentiment as crude prices, dollar strength and fund outflows pressure the market.
The rupee depreciated against the US dollar in interbank foreign exchange trading, closing lower amid rising crude oil prices, a firm dollar and foreign fund outflows. Market participants also watched the forthcoming Reserve Bank of India monetary policy meeting, while the USD/INR spot rate was expected to trade in a narrow near-term range.
June 2, 2026
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Verification of answer books and re-evaluation portal opens for board exam students through a fully online process.
CBSE opened an online portal for students with scanned copies of evaluated answer books to seek verification of issues in those copies and re-evaluation of answers. The process is available only online, requires Aadhaar-based login, permits only one application each for verification and re-evaluation, and must be completed within the stated timeline. The verification facility covers missing pages, blurred pages, missing supplementary sheets, incorrect answer books and similar issues, while re-evaluation may be sought for one or more questions across subjects.
June 2, 2026
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Premium group travel expansion drives curated tours, repeat customers, and Series A discussions for growth.
JOY-N-CREW Vacations LLP is a Pune-based premium group travel company founded in 2022 and expanded to seven Indian cities. It reports serving over 5,000 guests, a 78% repeat customer rate, and a travel model built around curated international tours, cultural immersion, central accommodations, doctor-on-call support, and unhurried itineraries. The company has also entered premium educational travel and says it is in advanced discussions for Series A funding to support expansion, technology development, and a broader tour portfolio.
June 2, 2026
Show AI Summary
Foreign exchange violation investigation under FEMA leads to searches at Vedanta Group premises amid regulatory scrutiny.
Enforcement Directorate initiated a foreign exchange violation investigation under the civil provisions of the Foreign Exchange Management Act against Vedanta Group and conducted searches at its premises in Delhi, Rajasthan and other locations. The company said it was extending full cooperation, providing information sought, and remaining committed to compliance with applicable laws and regulations.
June 2, 2026
Show AI Summary
Unified transaction banking is reshaping corporate finance through API-driven platforms, cloud scale, and stronger compliance controls.
Transaction banking in India is shifting toward unified, API-driven platforms that address fragmented banking systems, manual processes, and reconciliation challenges in corporate banking. The commentary links this evolution to digital infrastructure growth and highlights the role of cloud systems, AI tools, and strong compliance guardrails, including regulatory compliance, data protection standards, and certifications such as ISO and SOC2, in enabling scalable and reliable financial technology operations.
June 2, 2026
Show AI Summary
GST revenue collections showed provisional growth in May 2026, with adjusted figures reflecting the telecom spectrum one-time payment.
Gross and net GST revenue collections for May 2026 were presented as provisional figures, with break-ups for domestic revenue, import revenue, refunds and net collections under CGST, SGST and IGST. The note stated that May 2025 included a one-time telecom spectrum payment, and that adjusted growth is the better indicator of GST performance for May 2026. State-wise tables also showed SGST and IGST settlement figures and domestic GST revenue growth across States and Union Territories.
June 2, 2026
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Seafood export growth: India's frozen shrimp-led shipments hit a record high as the US and China stayed top markets.
India's seafood exports reached a record high in FY 2025-26, with frozen shrimp remaining the dominant export item and contributing the largest share of export earnings and overall quantity. The United States and China continued to be the principal overseas markets, with the United States leading in value terms and China leading in quantity terms. The European Union, Southeast Asia, Japan and the Middle East also remained major export destinations, while Visakhapatnam, Jawaharlal Nehru Port Trust and Kochi were the top ports handling seafood export cargo.
June 2, 2026
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Government accounts highlight revenue receipts, tax devolution to states, and expenditure composition across revenue and capital heads.
Government accounts for financial year 2025-26 were consolidated and published on a provisional, unaudited basis, showing receipts of the Union Government as net tax revenue, non-tax revenue, and non-debt capital receipts. During the period, a substantial amount was transferred to State Governments as devolution of the share of taxes, and total expenditure was recorded on both revenue and capital account, with interest payments and major subsidies forming significant components of revenue expenditure.
June 2, 2026
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Government revenue and expenditure account for April 2026 highlights tax receipts, devolution to states, and major spending heads.
Government of India's monthly account for April 2026 records the consolidated receipt and expenditure position for the month. Receipts comprise tax revenue, non-tax revenue and non-debt capital receipts, with a transfer made to State Governments by way of devolution of taxes. The account also notes the corresponding expenditure split between revenue account and capital account, and identifies interest payments and major subsidies as significant components of revenue expenditure.
June 1, 2026
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Banking sector growth drives priority lending, while emergency credit support scheme implementation gets expedited for eligible borrowers.
Kerala's banking sector showed strong growth in deposits, advances and priority-sector lending, with the credit-deposit ratio above the RBI benchmark. The review meeting also examined implementation of the Emergency Credit Line Guarantee Scheme and directed banks to identify eligible borrowers and deliver benefits expeditiously while supporting broader economic development.

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Customs & Trade

Vibrant Gujarat Regional Conference for central part of state to be held in Vadodara in June

May 22, 2026

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Gandhinagar, May 22 (PTI) The Vibrant Gujarat Regional Conference (VGRC) focusing on the central part of the state is scheduled to be held in Vadodara during the last week of June, officials said on Friday.

The region encompasses Ahmedabad, Gandhinagar, Vadodara, Anand, Kheda, Panchmahal, Dahod, Chhotaudepur, Narmada, and Mahisagar districts, accounting for 28 per cent of Gujarat's total manufacturing output, an official release said.

As per district-level data from Annual Survey of Industries 2022-23, central Gujarat contributed 93 per cent of the state's total other transport equipment manufacturing output (which includes railway locomotives, rolling stock, air and spacecraft, two and three-wheeled vehicles), 92 per cent of auto and auto components, 70 per cent of beverages, and 63 per cent each of pharmaceuticals and electrical equipment.

Around 62 per cent of the total area within Gujarat is covered under the influence area of Delhi-Mumbai Industrial Corridor (DMIC), making the state an ideal destination for investors, the release added.

There are two flagship projects of central Gujarat region in various phases of development, namely the 5,560 acre Dholera Special Investment Region (DSIR) and the 2,849 acre Mandal-Becharaji Special Investment Region (MBSIR).

"Vadodara's chemicals and petrochemicals sector accounted for 61 per cent of the district's total manufacturing output. Ahmedabad leads in auto and auto Components (18 pc), textiles (15 pc), basic metals (13 pc), and pharmaceuticals (9 pc). Gandhinagar's manufacturing output is driven by food processing (18 pc), basic metals (17 pc), and chemicals (14 pc)," the release stated.

The state capital also leads the region's electronics and financial technology sectors through the presence of GIFT City, supported by its academic institutions, while Anand's manufacturing base is built on agro and dairy processing (50 pc) and chemicals (12 pc), the release said.

Panchmahal draws its strength from the auto and auto components (23 pc), rubber and plastics (19 pc), and pharmaceuticals (15 pc) sectors.

"Kheda is driven by rubber and plastics products (23 pc) and food processing (22 pc). Narmada's output is dominated by food processing (92 pc), while Chhotaudepur contributed through agro and food processing (56 pc) and Dahod through food processing (48pc)," the release noted.

According to the release, in FY 2024-25, the region's total exports reached USD 20.54 billion, extending central Gujarat's commercial reach across more than 219 countries.

Pharmaceuticals led the export basket at USD 3.67 billion (17.8 pc), followed by nuclear reactors, boilers and machinery at USD 2.79 billion (13.6 pc), electrical machinery and equipment at USD 1.79 billion (8.7 pc), road vehicles and parts at USD 1.47 billion (7 pc), organic chemicals at USD 1.45 billion (7 pc), and dyeing, tanning and colouring matter at USD 1.03 billion (5 pc).

The USA was the largest export destination, accounting for 23.8 per cent ( USD 4.88 billion) of the total, followed by the UAE at 7.3 per cent, Thailand at 3 per cent, the UK at 2.8 per cent, and Saudi Arabia at 2.7 per cent, it added.

For the upcoming VGRC (central Gujarat), the focus sectors include semiconductors & electronics, IT & ITeS, biotech, pharmaceuticals, aerospace & defence, fintech, auto & auto components, dairy & food processing, education, chemicals & petrochemicals, textiles & apparels, green energy ecosystem, skill development, startups, MSMEs, and tourism & culture, the release said.

VGRC focuses on tourism and culture as a stimulus for regional economic growth.

By promoting heritage tourism and world-class destinations such as the Statue of Unity, central Gujarat aims to attract international visitors and boost local economic activity, it said.

The central Gujarat region stands out as a diverse high-potential version of the state's broader tourism strategy, officials noted.

"Central Gujarat boasts a dense concentration of spiritual, historical, and archaeological landmarks, anchored by iconic sites such as Ahmedabad's Gandhi Ashram, Vadodara's Laxmi Vilas Palace, Gandhinagar's Swaminarayan Akshardham Temple, and Panchmahal's UNESCO World Heritage-listed Champaner-Pavagadh Archaeological Park," the release said.

The region drives initiatives like eco-tourism and experiential travel, focusing on Narmada's globally renowned Statue of Unity, the Nalsarovar Bird Sanctuary, and Panchmahal's scenic Pavagadh Hill corridor.

Furthermore, with major urban centres hosting state-of-the-art facilities like Gandhinagar's Mahatma Mandir, the region acts as a primary hub for lucrative MICE tourism, it added.

Each edition of VGRC brought together industry leaders, investors, policymakers, and academic institutions in a focused regional format, channelling the larger Vibrant Gujarat Global Summit's ethos into concentrated, sector-specific dialogue aligned with the goals of Viksit Bharat@2047, the release said.

The inaugural edition for north Gujarat, held in Mehsana (October 2025), witnessed 1,264 MoUs, projecting investments of Rs 3.25 lakh crore, with 29,000 registrations and participation of 440 international delegates from more than 80 countries, it noted.

This was followed by the Kutch and Saurashtra edition in Rajkot (January 2026) which witnessed 5,492 MoUs with proposed investments of Rs 5.78 lakh crore, 29,000 registrations, as well as participation of 400 international delegates from 57 countries.

In the recent south Gujarat edition in Surat (May 2026), 2,792 MoUs with proposed investments of Rs 3.53 lakh crore were signed, drawing 20,000 registrations and 150 international delegates from 27 countries, the release said. PTI KVM PD BNM

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