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    IDFC First Bank 'fraud': ED makes 3rd arrest in Rs 645-crore embezzlement case
    Britain's steel safeguard, carbon tax sticking points in implementation of India-UK trade pact: Sources
    India-Oman FTA comes into force; textiles, eng, gems, jewellery get duty-free access
    UK Trade Secretary Peter Kyle to visit India to ramp up FTA implementation
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    Clayfin Expands into Voice AI Capabilities with Strategic Acquisition of Louie Voice
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    Anondita Medicare Limited Secures First Export Order Worth INR 43.14 Crore Under South African Government Condom Tender Program
    Exato Technologies Limited Reports 35% Revenue Growth and 67% PAT Growth YoY in FY26; Builds a Record INR 600 Crore Order Book
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June 1, 2026
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Money laundering investigation under the Prevention of Money Laundering Act turns on alleged layering and concealment of public funds.
Money laundering investigation under the Prevention of Money Laundering Act concerns alleged embezzlement of public funds from bank accounts linked to government departments and private schools. The investigation records an arrest for allegedly receiving proceeds of crime and participating in the generation, layering and concealment of laundered funds. It also alleges use of shell entities, jewellers and linked accounts to route, distribute and invest the proceeds, while the money trail and related assets are being traced.
June 1, 2026
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Steel safeguard and carbon border adjustment issues are emerging as key sticking points in India-UK trade pact implementation.
India and the United Kingdom are expected to discuss Britain's steel safeguard measure and proposed carbon border adjustment mechanism as implementation issues under the bilateral trade pact. The reported concern is that UK restrictions on tariff-free steel imports and the planned carbon pricing on carbon-intensive goods have become sticking points, prompting India to consider re-balancing duty concessions, including those on Scotch whisky, if the matters are not addressed.
June 1, 2026
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Duty-free market access expands under India-Oman trade pact, boosting exports, services commitments and skilled professional mobility.
Duty-free market access under the India-Oman Comprehensive Economic Partnership Agreement has come into force, granting duty-free entry for 99.38 per cent of India's exports by value and covering textiles, engineering products, gems and jewellery, pharmaceuticals and electronics. The arrangement also provides quota-based tariff concessions on selected Omani exports to India, while India has withheld concessions in several sensitive sectors. The pact further expands services commitments and skilled-professional mobility, and contemplates future discussions on social security continuity. Pharmaceutical access is reinforced through binding zero-duty treatment and streamlined marketing authorisation conditions.
June 1, 2026
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Trade liberalisation and market access drive India-UK FTA implementation talks in New Delhi.
UK Business and Trade Secretary Peter Kyle is scheduled to visit New Delhi to accelerate implementation of the India-UK Comprehensive Economic and Trade Agreement and bring the bilateral Free Trade Agreement into force as quickly as possible. The visit is intended to advance the modern economic partnership, support businesses and consumers, and prepare industry for the agreement's entry into force through wider trade opportunities and tariff liberalisation.
June 1, 2026
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Bilateral trade agreement talks focus on final drafting, tariff recalibration, and broader market access negotiations.
India and the United States have largely finalised the first phase of their bilateral trade agreement, with remaining discussions focused on drafting details, legal wording, and adjustments needed to reflect changes in the US tariff environment. The two sides are working toward completion of the interim agreement and then broader negotiations on market access, non-tariff measures, customs and trade facilitation, investment promotion, and economic security alignment. The framework contemplates tariff reductions and expanded Indian purchases of US goods, while current talks may recalibrate the framework in light of changed tariff measures and Section 301 developments.
June 1, 2026
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Export levies on petrol, diesel and ATF are revised fortnightly to support domestic fuel availability.
Export levies in the form of Special Additional Excise Duty and Road and Infrastructure Cess are imposed on exports of petrol, diesel and aviation turbine fuel to support domestic availability of petroleum products by discouraging exports. The levy rates are reviewed and revised on a fortnightly basis according to average international prices of crude oil and petroleum products prevailing since the last review. No change is made to the existing excise duty rates on petrol and diesel cleared for domestic consumption.
June 1, 2026
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Customs duty exemption on cotton imports aims to ease input costs and improve raw material availability for the textile sector.
Temporary exemption from all customs duties on import of cotton is provided to improve cotton availability for the Indian textile sector during the specified period. The measure is intended to reduce input costs across the textile and apparel sector, support manufacturers and consumers, and balance the interests of domestic farmers. It is also expected to assist small and medium enterprises by easing raw material constraints.
June 1, 2026
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India-Oman CEPA expands duty-free access, services commitments and trade facilitation across goods, investment and professional mobility.
The India-Oman Comprehensive Economic Partnership Agreement (CEPA) entered into force on 1 June 2026, creating a framework for trade, services, investment, logistics and regulatory cooperation. The Agreement gives duty-free access to 99.38% of India's exports to Oman, while India liberalizes tariff lines with safeguards for sensitive sectors such as dairy, cereals, fruits, vegetables, edible oils, oilseeds, rubber, leather and spices. It also includes trade-facilitation measures, non-tariff barrier reduction, sector-specific market access and commitments on services and professional mobility.
June 1, 2026
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PMLA bail turns on limited role, minimal traced transactions, prolonged custody, and parity with a co-accused.
Regular bail under the PMLA turned on the accused's limited alleged role, the small quantum of traced transactions, and the stage of the proceedings. The court treated the petitioner's involvement as non-pivotal, considered the custody period and likely trial delay, and held that prolonged pre-trial incarceration would not be justified on the material placed before it. Parity with a co-accused and the non-determinative nature of protest-related allegations were also relevant.
June 1, 2026
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Cross-border business connectivity drives Citi's India Conference focus on investment, capital markets, and economic growth themes.
Citi is set to host its flagship India Conference 2026 in Mumbai as a two-day forum bringing together corporate leaders, investors, clients and thought leaders from the financial and business ecosystem. The conference will serve as a platform for discussions, networking and knowledge-sharing on themes shaping business, investment and economic activity in India and globally. Sessions are expected to cover the macroeconomic outlook, policy environment, capital markets, emerging investment trends, artificial intelligence, digital infrastructure and innovation.
June 1, 2026
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Rupee weakness against the US dollar intensifies as geopolitical tensions, crude prices and dollar strength weigh on sentiment
Rupee depreciated against the US dollar amid renewed geopolitical tensions, higher crude oil prices and a stronger dollar overseas. Market participants linked the weakness to adverse global risk sentiment, rising US Treasury yields and uncertainty around continued peace talks, while attention shifted to the upcoming RBI Monetary Policy Committee meeting. The broader backdrop included a firmer dollar index, higher Brent crude futures, lower domestic equity indices, net foreign institutional outflows, a fall in India's forex reserves and higher gross GST collections in May.
June 1, 2026
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Voice AI banking expands accessibility as Clayfin acquires Louie Voice to enable simpler digital transactions.
Clayfin has acquired Louie Voice, a voice banking platform that uses Voice AI to enable end-to-end banking transactions through natural voice commands within mobile applications and websites. The platform is designed to improve accessibility and inclusivity by reducing manual navigation and supporting users across different literacy levels, age groups, language preferences, and accessibility needs. It supports 11 Indian and 40 global languages and is intended to expand AI-led digital engagement and voice banking experiences for financial institutions.
June 1, 2026
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Comprehensive Economic Partnership Agreement opens preferential market access for Indian exporters in Oman across key sectors.
India and Oman have brought into force their Comprehensive Economic Partnership Agreement, enabling preferential market access in Oman for Indian exporters in sectors such as textiles, leather, plastics, marine products, automobiles, sports goods and agri-items. The agreement was signed in Muscat on 18 December 2025 and entered into force on 1 June 2026, after completion of internal processes by both parties.
June 1, 2026
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Online education programmes expand industry-aligned training in product management, fintech, digital banking, applied AI and modern computing.
Online education programmes were launched to address demand for industry-aligned digital talent in product-led business models, fintech, artificial intelligence and modern computing. The launch includes an Online MBA in Product Management, together with an Online MBA in Fintech & Digital Banking and an Online MCA in Applied AI and Modern Computing. The product management curriculum combines management study with product strategy, user-centric innovation, agile methodologies, analytics, go-to-market execution and digital transformation.
June 1, 2026
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Seafood exports record growth as frozen shrimp drives India's overseas earnings and major markets stay strong.
India's seafood exports reached a record level in 2025-26, with frozen shrimp remaining the dominant export item and the main contributor to foreign exchange earnings. The Marine Products Export Development Authority reported that the United States, China, the European Union and Southeast Asia were major markets, while frozen fish, dried products, squid, cuttlefish, chilled products and live products also contributed to export earnings. Visakhapatnam Port, Jawaharlal Nehru Port Trust and Kochi Port were the leading ports handling seafood cargo.
June 1, 2026
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Aquaculture and export strategy drive stronger revenue, profitability, and a five-pillar execution framework for the next year.
Revenue from operations for FY 2025-26 increased to INR 162.15 crore, with EBITDA, profit before tax, and profit after tax also rising year on year. The company attributed the performance to focus on aquaculture and exports, disciplined cost management, and stronger farm-level operations. It also set out a five-pillar FY 2026-27 execution framework covering strategic alliances, consolidation, digitisation, monetisation, and optimisation.
June 1, 2026
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Export business advances as Anondita Medicare secures first South African government condom supply order under tender framework.
Export business under a South African government procurement programme advanced when Anondita Medicare Limited secured its first export purchase order for male condoms from Supra Healthcare Johannesburg (Pty) Ltd. The order, valued at approximately INR 43.14 crore, covers supply and delivery equivalent to 50 forty-foot containers and is expected to be executed by 30 September 2026. The transaction marks the commencement of supplies under the approved South African tender framework and is described as strengthening the company's export business.
June 1, 2026
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Revenue growth and record order book drive Exato Technologies' FY26 expansion, profitability gains, and global footprint.
Exato Technologies Limited reported strong FY26 consolidated financial performance, with revenue from operations rising 35% year-on-year and Profit After Tax increasing by 67% year-on-year. The company also disclosed a record order book of INR 600 crore, reflecting strong revenue visibility, and noted expansion through a wholly owned subsidiary in Australia alongside existing subsidiaries in the USA and Singapore.
June 1, 2026
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GST collections rise on stronger goods and services supplies, with import-linked receipts and net revenues also moving higher.
Gross GST collections increased in May on the back of stronger supplies of goods and services and continued growth in collections from imports. Domestic GST collections under CGST, SGST and IGST were reported for the month, while taxable supplies of goods and services recorded significant year-on-year growth, indicating firm domestic demand and resilience in consumption. IGST collections from imports also rose, GST refunds increased modestly, and net GST revenues were higher after adjustment of refunds.
June 1, 2026
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Rising bond yields and debt sustainability concerns deepen affordability pressures and heighten political risk ahead of the mid-term elections.
Rising US bond yields and higher Treasury borrowing costs are intensifying affordability pressures, slowing growth expectations and increasing political risk as investors reassess the sustainability of government debt. Economists quoted in the report say the administration's stated deficit-reduction measures are unlikely to materially close the gap, while debt-service costs have already risen sharply and are projected to remain a major budget burden. Higher rates are feeding into mortgage costs, car sales weakness and broader voter concerns about living costs ahead of the mid-term elections.

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Customs & Trade

Maruti Suzuki unveils India's first flex-fuel car as govt pushes for greater ethanol mix in petrol

June 4, 2026

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New Delhi, Jun 4 (PTI) Maruti Suzuki India on Thursday launched India's first flex-fuel passenger vehicle, introducing a version of its Wagon R Flex Fuel capable of running on ethanol-petrol blends ranging from E20 to E100, as the country seeks to reduce crude oil imports and lower carbon emissions.

India has been promoting ethanol-blended petrol as part of its strategy to reduce dependence on imported crude oil, one of the biggest contributors to its current account deficit. The country has already rolled out E20 fuel, containing 20 per cent ethanol and 80 per cent petrol, and is now exploring higher ethanol blends using biofuel produced from feedstocks such as sugarcane, maize and surplus rice.

Flex-fuel vehicles are designed to run on higher ethanol blends such as E85 (85 per cent ethanol, 15 per cent petrol) and E100 (near 100 per cent ethanol), unlike conventional petrol vehicles currently approved for lower ethanol concentrations.

The country's largest carmaker said the vehicle features an advanced engine control unit (ECU) that automatically adapts to varying ethanol blends, allowing customers to operate the car on any mix of petrol and ethanol.

"Long-term dependence on imported crude oil cannot be an option. We need solutions that are cleaner, affordable, scalable and based on India's own strengths," said Hisashi Takeuchi, Managing Director and Chief Executive Officer of Maruti Suzuki India.

While Road Transport and Highways Minister Nitin Gadkari said flex-fuel vehicles could create sustained demand for ethanol while supporting farmers, industry and environmental goals, Oil Minister Hardeep Singh Puri stated that India's ethanol programme had strengthened energy security and created new opportunities for the rural economy.

Puri said the government expects the number of ethanol dispensing stations to rise from an initial 50-100 outlets in cities such as Delhi, Mumbai, Pune, and Nagpur to about 500 by the end of 2026 and around 5,000 by the end of 2027.

Major automakers, including Toyota Motor Corporation, Tata Motors, and Hyundai Motor Company, are also developing flex-fuel vehicles for the Indian market as policymakers push to reduce the country's fossil fuel import bill.

On Wednesday, Hero MotoCorp launched India's first flex-fuel motorcycles -- the Splendor+ and HF Deluxe -- capable of running on petrol blended with up to 85 per cent ethanol.

Flex fuel will help meet India's twin goal of cutting crude oil imports and reducing carbon emissions, Takeuchi said.

It, however, requires an entire ecosystem -- from fuel availability to more model launches for large-scale adoption -- he said.

Noting that India is at a critical point, Takeuchi recollected Prime Minister Narendra Modi's appeal to citizens to save fuel and reduce import dependence. For both objectives, achieving energy security with scale and speed is crucial, he said.

"Maruti Suzuki is taking the first big step with the launch of India's first flexfuel car. We invite the leaders of all stakeholders, including the oil marketing companies and ethanol producers, to join us in this nation-building journey," he said.

Gadkari said India imports a large quantity of crude oil every year, and biofuels like ethanol are an important pathway towards reducing this dependence while strengthening the country's rural economy.

"Flex-fuel vehicles can create a strong and sustainable demand for ethanol, benefiting our farmers, industry, and the environment together." India's ethanol journey is unstoppable, Puri said. "We have transformed our farmers from 'annadatas' to 'urjadatas', while strengthening India's energy security." The minister said flex-fuel vehicles are a win-win for the nation -- reducing crude oil import dependence, saving valuable foreign exchange, lowering emissions, and creating new opportunities for rural prosperity.

In the current scenario when the West Asia conflict has left countries, including India, vulnerable to the energy crisis, flex-fuel vehicles assume all the more importance.

Puri noted that India has already raised ethanol blending in petrol from 1.5 per cent in 2014 to 20 per cent, resulting in foreign exchange savings of Rs 1.84 lakh crore through the substitution of 302 lakh metric tonne of crude oil.

The Ministry of Road Transport and Highways has proposed amendments to vehicle emission rules to widen the scope for higher ethanol blends and alternative fuels, paving the way for flex-fuel and pure biofuel vehicles across vehicle categories.

The draft changes to the Central Motor Vehicles Rules, 1989, aim to provide for wider use of fuels, such as E85 and E100, as well as B100 biodiesel and hydrogen-CNG combinations. PTI BKS RKL VHI ANZ TRB

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