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    India placed in lower tariff tier at 10 pc under US Section 301 measures on forced labour: Govt
    ED report says CMRL ex-MD cited Veena’s ties to then Kerala CM for payments
    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman outlines 5Rs of responsive tax governance; Calls for greater tax certainty and ...
    Trump says US will investigate EU trade practices, claiming bloc unfairly fined tech giants
    World shares are mixed and oil prices fall, markets in Asia skid in sell-off of AI-related shares
    Sitharaman ask I-T officials to go after tax evaders, ensure convenience for honest taxpayers
    HIGHLIGHTS
    Rupee recovers 20 paise to settle at 96.53 against US dollar
    Sri Lanka welcomes US tariff reduction
    DPIIT's One District One Product Initiative Promotes 1,244 Unique Products Across 773 Districts
    India's Services Exports Rise to USD 421.3 Billion in FY 2025-26, Led by Telecommunications, Computer and Information Services and Business Services
    India and Israel Conclude Second Round of Negotiations for Proposed Free Trade Agreement
    Glomo Secures Visa's Principal Membership, Becomes India's First Non-Bank Acquirer to Join the Network
    India's forex reserves jump USD 1.08 billion to USD 676.237 billion
    Boult Earbuds in India 2026: Five Reasons They are the Smartest Budget Pick
    Stock markets extend losses for 5th straight day on US trade tariffs, West Asia tensions
    China slaps export controls on 14 EU entities in retaliation for Russia-related sanctions
    Rupee recovers 18 paise to settle at 96.55 against US dollar
    Infosys: AI Revenues at 8.2% in Q1; Resilient Operating Margin of 21.1%
    Shares skid in Asia in sell-off of AI-related shares as Brent oil trades near $100 per barrel
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July 25, 2026
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US forced-labour tariffs place India in a lower tier while preserving exclusions for specified imports and Section 232 products.
US Section 301 forced-labour measures impose an additional 10 per cent tariff on imports from India, with India placed in a lower tariff tier than initially proposed. Generic pharmaceuticals, smartphones and certain specified products outside additional duties remain excluded, as do products already covered by Section 232 measures, including steel, aluminium and auto parts. The textile-specific mechanism has not yet been established or operationalised, and engagement continues in connection with bilateral trade agreement negotiations.
July 25, 2026
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Money-laundering investigation examines alleged fictitious expenses, circular vendor payments, and consultancy payments without services or deliverables.
A money-laundering investigation alleges misappropriation through fictitious expense entries, unsupported vouchers, and inflated vendor invoices used to withdraw funds in cash. The Enforcement Directorate further alleges that payments described as software or IT consultancy expenses were made to Exalogic Solutions Pvt Ltd and Veena T without services or deliverables. The report cites statements concerning the alleged sham payments, Exalogic's dependence on company funds, and subsequent transfers from its account. The PMLA case is based on a prosecution complaint concerning suspected financial irregularities.
July 25, 2026
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Tax certainty and taxpayer-centric administration drive simplified compliance, reduced litigation, digital service delivery, and stronger voluntary tax compliance.
Tax administration reform under the Income-tax Act, 2025, rules and forms is directed toward a simpler, transparent and taxpayer-centric system. Key priorities include reducing compliance costs and litigation through tax certainty, faster return processing, refunds, grievance redressal, voluntary compliance and timely appeal disposal. Digital initiatives, including PAN 2.0, ITBA 2.0, IEC 3.0, Kar Saathi and SAKSHAM NUDGE, are intended to simplify compliance and improve taxpayer experience. Capacity building in technology, international taxation, transfer pricing, digital assets and cybersecurity supports this reform agenda.
July 24, 2026
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Trade Practice Investigation: Tech-company antitrust fines prompt proposed tariffs and trade sanctions under federal trade law mechanisms.
A formal investigation into alleged unfair trade practices has been announced in response to European regulatory fines imposed on major United States technology companies. The stated concern is that digital antitrust penalties are unfairly directed at United States businesses, with possible tariffs on European Union imports indicated. The proposed response is linked to Section 301 of the Trade Act of 1974, permitting import taxes and other sanctions against unjustifiable, unreasonable or discriminatory trade practices.
July 24, 2026
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Import tariffs and energy costs heighten inflation risks, pressuring consumers, corporate profits and monetary-policy expectations amid market volatility.
Fresh tariffs on imports, rising energy prices and Middle East conflict are identified as concurrent pressures on global financial markets. The tariff measures apply to nearly all imports into the United States and are paid by importing companies, which typically pass the additional costs to consumers. Higher energy costs and tariffs may increase inflationary pressure, reduce household discretionary spending and affect corporate profitability, while influencing monetary-policy expectations. Investors also questioned whether substantial artificial-intelligence investment can support technology-sector valuations.
July 24, 2026
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Responsive tax governance promotes taxpayer convenience, correction of bona fide errors, tax certainty, prompt refunds and prevention of avoidable litigation.
Responsive tax governance requires convenience for honest taxpayers, correction of bona fide errors and firm consequences for deliberate tax evasion. The Income Tax Act, 2025 is intended to simplify the legal framework, reduce uncertainty and lower compliance costs, supported by stronger electronic filing infrastructure and prompt refund processing. Tax certainty should promote voluntary compliance and shift the focus from litigation management to litigation prevention through consistent guidance, simplified procedures, technology, standardised processes, effective grievance resolution and reduction of recurring taxpayer difficulties.
July 24, 2026
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Examination integrity safeguards prompt monitoring, enforcement action and proposed stricter penalties for paper leaks and institutional failures.
Examination integrity measures include reported termination of agency officials, contemplated legal and criminal action, proposed stricter punishment for paper leaks, and Supreme Court monitoring of preventive steps. The Supreme Court also prohibited unauthorised posting or uploading of audio-video court proceedings on social media and digital platforms without prior administrative permission. The updates further address taxpayer facilitation alongside firm action against evasion, trade measures connected with forced-labour concerns, and potential legal action concerning university communications to students.
July 24, 2026
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Foreign exchange market stabilisation supported rupee recovery as investor outflows, geopolitical tensions and elevated crude prices maintained currency pressure.
Foreign exchange market conditions saw the rupee recover against the US dollar amid reports of Reserve Bank of India intervention and dollar sales by public-sector banks to limit further depreciation. Foreign institutional investor outflows, weak domestic equity sentiment, geopolitical tensions, and elevated crude oil prices continued to pressure the currency. A decline in crude prices, diplomatic engagement, and central-bank intervention were identified as potential stabilising factors.
July 24, 2026
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Forced-labour import prohibition enabled lower tariff treatment for Sri Lankan goods, supporting export competitiveness and responsible trade practices.
Tariff treatment for Sri Lankan goods entering the United States was reduced after Sri Lanka prohibited imports of goods produced using forced labour. The prohibition placed Sri Lanka within the lower tariff category under the stated US framework. The reduction is described as supporting exporter competitiveness while reflecting commitments to fair trade, responsible business practices, internationally accepted labour standards, and sustainable economic reforms.
July 24, 2026
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One District One Product strengthens district product branding, market access, food-processing support and export-oriented value chains.
The One District One Product initiative supports district-identified products through branding, market access, exhibitions, capacity building and Government e-Marketplace onboarding. States and Union Territories select products and may leverage Central and State schemes, as no district-specific allocation is made. PM Ekta Malls and the PMFME Scheme support sales, food-processing projects, common infrastructure, branding, packaging, quality standardisation and food-safety compliance. Districts as Export Hubs promotes export-potential products through export committees, action plans and value-chain coordination.
July 24, 2026
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Services export promotion expands market access, professional mobility, qualification recognition and trade outreach for Indian service suppliers.
Services export promotion combines targeted market and sector strategies, removal of domestic impediments, trade agreements and export-promotion activity. Free Trade Agreements secure market access and national treatment for Indian service suppliers, support transparent and time-bound authorisation processes, and facilitate temporary mobility of skilled professionals. Mutual Recognition Agreement provisions seek recognition of qualifications and licensing requirements. The framework also addresses social-security coordination, student mobility, traditional medicine and double-taxation commitments for IT services. The Services Export Promotion Council supports market development, trade facilitation, capacity building and international outreach.
July 24, 2026
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Free trade agreement negotiations advance as India and Israel address market access, origin rules, customs facilitation and economic cooperation.
India and Israel completed the second round of negotiations for a proposed Free Trade Agreement under the Terms of Reference signed in November 2025. Technical discussions covered trade in goods and services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, intellectual property rights, customs procedures, trade facilitation and economic cooperation. Both sides sought to narrow gaps, identify areas of convergence and work towards early conclusion of a balanced, comprehensive and mutually beneficial agreement.
July 24, 2026
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Direct card acquiring enables cross-border merchants to manage payment processing, settlement, risk monitoring and disputes without intermediary acquirers.
Visa Principal Membership enables Glomo to operate as a direct non-bank acquirer for Visa-powered merchant card payments through GIFT IFSC. It allows direct management of merchant acquisition, processing, settlement, transaction approval optimisation, fraud and risk monitoring, and dispute and chargeback handling without intermediary acquirers. The arrangement is intended to accelerate onboarding and processing, enhance control over risk policies and merchant experience, and support cross-border acceptance and settlement, including management of multiple currencies, banking systems and regulatory requirements.
July 24, 2026
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Foreign exchange reserves rose as foreign currency assets increased, while gold reserves fell and IMF reserve position declined.
Foreign exchange reserves increased during the reported week, principally because foreign currency assets rose, including valuation effects from movements in non-US currencies held in reserve. Gold reserves declined, Special Drawing Rights increased, and the reserve position with the International Monetary Fund decreased. Earlier reserve declines were associated with rupee pressure and foreign-exchange market intervention through dollar sales.
July 24, 2026
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Consumer electronics financing enables instalment purchases of affordable earbuds through in-store loan and reusable credit facilities, subject to approval.
Affordable Boult earbuds are described as offering extended battery life, fast charging, dynamic drivers, low-latency gaming modes, Environmental Noise Cancellation, Bluetooth connectivity, and selected active noise-cancellation features. Models are compared by audio, calling, gaming, and charging specifications. Purchases through partner stores may be financed through an Easy EMI Loan or Insta EMI Card, subject to in-store application and approval, with instalment tenures and possible zero-down-payment offers on selected models.
July 24, 2026
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Trade-tariff concerns and oil-price volatility deepen risk aversion, extending equity market losses amid geopolitical tensions and foreign outflows.
Indian equity markets extended their losing streak amid caution over United States trade-tariff concerns, West Asia tensions, oil-price volatility, foreign equity outflows and selling in selected blue-chip shares. Higher oil prices were identified as a potential pressure on macroeconomic indicators and growth prospects. New import tariffs were described as a constraint for export-oriented economies, particularly technology-heavy markets, while investors may diversify exposure across emerging-market opportunities.
July 24, 2026
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Dual-use export controls restrict supplies to European entities amid reciprocal Russia-related sanctions and non-proliferation concerns.
China imposed dual-use export controls on 14 European entities in response to European Union sanctions affecting Chinese and Hong Kong enterprises. Chinese companies cannot export dual-use items to the listed organisations, and foreign companies are barred from supplying them with dual-use items made in China. China stated that the restrictions protect national security and interests and support international non-proliferation obligations in the context of Russia-related sanctions.
July 24, 2026
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Foreign-exchange market intervention supported rupee stabilisation amid investor outflows, weak equities, geopolitical tensions and elevated crude oil prices.
Foreign-exchange market conditions supported a rupee recovery against the US dollar following reported Reserve Bank of India intervention and dollar sales by public-sector banks. Pressure on the currency persisted due to foreign institutional investor outflows, weak domestic equity sentiment, geopolitical tensions and elevated crude oil prices. Lower crude prices, a weaker dollar index and further central bank intervention were identified as potential stabilising influences.
July 24, 2026
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Forward-looking statements receive safe-harbor qualification amid reported IFRS performance, AI-led transformation initiatives, and revised revenue-growth guidance.
Infosys reported first-quarter IFRS financial performance, including revenue growth, operating margin, earnings per share, free cash flow, and large-deal contract value, while revising revenue-growth guidance and retaining operating-margin guidance. The release describes AI-led enterprise transformation, cloud modernization, digital banking, financial-crime operations, and technology services engagements. Forward-looking statements are subject to safe-harbor protection and may differ materially because of business, talent, economic, technological, regulatory, cybersecurity, litigation, investigation, and tariff-related risks.
July 24, 2026
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Forced-labour import enforcement drives new tariffs as expiring stopgap levies and market uncertainty heighten trade-compliance concerns.
Import tariffs were announced on goods from trading partners said not to have fully enforced prohibitions on products made with forced labour. The measures apply to imports from 60 trading partners representing most United States imports and were introduced as existing stopgap levies approached expiry, following a Supreme Court setback affecting other tariff measures. The announcement occurred amid market uncertainty linked to energy-route disruptions, rising crude-oil prices, inflation concerns, and scrutiny of artificial-intelligence investment spending.

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HIGHLIGHTS

May 25, 2026

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New Delhi, May 25 (PTI) Following are the top stories at 9.15 pm: NATION DEL88 JK-GONDOLA - 4TH LD TOURISTS (9.12 PM)

Over 300 tourists rescued in 7-hr operation after Gulmarg Gondola malfunctions amid heavy rain Srinagar: Over 300 tourists were left stranded mid-air for hours inside 65 cabins of the famous Gulmarg Gondola cable car after a major technical snag halted Asia's highest ropeway, causing panic among the holidayers before they were rescued.

DEL82 RUBIO-RACISM-LD-ROW (8.23 PM)

Rubio downplays anti-India rhetoric row, says Trump is a 'big fan' of Modi New Delhi: President Donald Trump is a big fan of India and Prime Minister Narendra Modi, US Secretary of State Marco Rubio said on Monday, seeking to dismiss allegations of rising anti-India rhetoric in the US.

DEL79 WASIA-IRAN-MISRI (8.13 PM)

Iran's deputy foreign minister dials Misri to discuss West Asia situation New Delhi: Iran's Deputy Foreign Minister Majid Takht Ravanchi dialled Foreign Secretary Vikram Misri on Monday and is believed to have apprised him of Tehran's negotiations with Washington to end the ongoing crisis in West Asia.

DEL74 LDALL-RUBIO ENGAGEMENTS (7.45 PM)

Rubio visits Taj Mahal, Amber Fort ahead of Quad meeting Agra/Jaipur/New Delhi: US Secretary of State Marco Rubio on Monday visited the Taj Mahal in Agra and the Amber Fort in Jaipur along with his wife Jeanette Rubio and US Ambassador to India Sergio Gor ahead of the crucial Quad foreign ministers' meeting on Tuesday.

DEL71 CBSE-PAPER-LD MISMATCH (7.25 PM)

Students raise fresh concerns over CBSE OSM system, claim answer sheet mismatch New Delhi: Amid growing complaints over glitches and discrepancies in the CBSE re-evaluation process, some Class 12 students have alleged that the scanned copies of their answer sheets uploaded by the board did not match their handwriting, raising concerns over possible answer-sheet mismatch in the On Screen Marking (OSM) system.

DEL83 MEA-JAISHANKAR-MOTEGI (8.39 PM)

EAM Jaishankar holds talks with Japanese counterpart Motegi New Delhi: External Affairs Minister S Jaishankar and his Japanese counterpart Motegi Toshimitsu on Monday held wide-ranging talks focusing on economic fallout of the West Asia crisis in view of disruptions in energy supply chains.

CAL52 AS-BHUTAN-LD PM (8.54 PM)

Bhutan PM discusses regional cooperation issues with Assam governor, CM Guwahati: Bhutan Prime Minister Dasho Tshering Tobgay met Assam governor and chief minister on Monday, and discussed with them ways to enhance cooperation with India's northeastern region.

DEL80 PADMA-LD AWARDS (8.13 PM)

President confers 66 Padma Awards; actor Dharmendra, violinist N Rajam honoured New Delhi: President Droupadi Murmu on Monday conferred the Padma Vibhushan on Bollywood actor Dharmendra posthumously and classical musician and violinist N Rajam at a Civil Investiture Ceremony at the Rashtrapati Bhavan here.

DEL87 AVI-DGCA-EBOLA ADVISORY (9.10 PM)

Ebola scare: DGCA asks airlines make in-flight announcements, take other measures New Delhi: In the wake of the Ebola outbreak in certain parts of Africa, aviation watchdog DGCA has asked airlines to implement various measures, including making in-flight announcements and mandatory filing of self-declaration forms from passengers originating or transiting through the affected countries.

DEL67 CONG-LD FUEL HIKE (6.57 PM)

'Mehangai manav' strikes again: Congress slams PM on fuel hike New Delhi: The Congress on Monday launched a scathing attack on Prime Minister Narendra Modi over the latest fuel hike, with Rahul Gandhi alleging that the "mehangai manav" has struck again and he has just one job of making promises during elections and attacking people's pockets at other times.

DEL32 DL-KEJRIWAL-FUEL PRICE (3.07 PM)

Why PM Modi not buying cheap oil from Russia & Iran, asks Kejriwal New Delhi: After petrol and diesel prices were increased for the fourth time in less than two weeks on Monday, AAP national convenor Arvind Kejriwal questioned Prime Minister Narendra Modi over the Centre not buying fuel from Russia and Iran.

DEL18 CBI-TWISHA (12.08 pm)

CBI set to take over Twisha Sharma probe, team sent to Bhopal New Delhi: The CBI is set to take over the investigation into the death of Twisha Sharma, who was found hanging at her marital home in Bhopal's Katara Hills area on May 12, officials said on Monday.

LEGAL LGD30 SC-LD TWISHA SHARMA (12.36 PM)

Twisha Sharma death: 'Pained' by narrative that judiciary was shielding accused, says SC New Delhi: Observing that it was "pained" by the narrative that the judiciary was shielding the accused, the Supreme Court on Monday said it would ensure a fair, independent, and impartial CBI probe into the death of former model-turned-actor Twisha Sharma.

LGD47 SC-LD NEET (5.31 PM)

NEET paper leak: NTA has not learnt lessons, says SC; issues notices on pleas New Delhi: It's sad that the NTA has not learnt lessons from the earlier NEET paper leak, the Supreme Court said on Monday as it sought the response of the Centre, NTA and CBI on pleas for the replacement of the testing agency with a robust and autonomous body to conduct the medical entrance exam.

BUSINESS DEL76 BIZ-LDALL PETROL-PRICE-HIKE (7.59 PM)

Petrol, diesel prices hiked for 4th time in 11 days; petrol tops Rs 100 across most cities New Delhi: Petrol prices were raised by Rs 2.61 a litre and diesel by Rs 2.71 on Monday, the fourth increase in less than two weeks that extended a delayed pass-through of soaring global crude oil costs triggered by the Iran conflict.

DEL75 BIZ-SITHARAMAN-CRUDE PRICES (7.48 PM)

Govt forwent Rs 1 lakh cr via excise duty cuts to shield consumers from fuel inflation: FM Mumbai: Finance Minister Nirmala Sitharaman on Monday said the government had foregone more than Rs 1 lakh crore annually in tax revenues through excise duty cuts on petrol and diesel to shield consumers from fuel inflation triggered by the West Asia conflict, while defending the latest retail fuel price hikes as market-driven revisions by oil marketing companies responding to soaring global crude oil prices.

FOREIGN FGN27 US-TRUMP-IRAN (8.13 PM)

Trump says Iran talks progressing 'nicely', asks mediators to join Abraham Accords Washington: US President Donald Trump on Monday said negotiations with Iran to end the war were progressing "nicely", but officials pointed out that a final decision may take some time due to the complex communication networks Tehran deploys to consult with its supreme leader. By Sagar Kulkarni

FGN6 AUS-IND-WONG (9.29 AM)

Australia’s Foreign Minister Penny Wong to visit India to attend Quad meet Canberra: Australia's Minister for Foreign Affairs Penny Wong is set to travel to India on Monday to attend the Quad Foreign Ministers’ Meeting and deliberate on "shared interests", including maritime security and critical minerals.

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