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    India's forex reserves drop by USD 4.924 billion to USD 780.782 billion: RBI data
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September 18, 2026
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Foreign exchange reserve valuation reflects currency movements as foreign currency assets and gold holdings decline.
India's foreign exchange reserves declined to USD 780.782 billion for the week ended September 11, driven by reductions in foreign currency assets and gold holdings. Foreign currency assets fell to USD 645.796 billion, with their dollar value reflecting movements in reserve currencies against the US dollar. Gold reserves also declined, while Special Drawing Rights increased to USD 18.845 billion. The reserve position with the IMF stood at USD 4.916 billion.
September 18, 2026
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Bulk sugar stockholding limits now allow expanded inventories only where additional supplies derive from designated import channels.
Bulk sugar consumers using more than 10 tonnes monthly as a raw material may hold up to 30 days' requirement instead of 15 days. Holdings above 15 days must consist exclusively of sugar imported under the Tariff Rate Quota or Advance Authorisation Scheme; sugar obtained from the open market remains restricted to 15 days' consumption. Bulk consumers must declare and disclose their sugar inventories every Friday through the food ministry's online portal.
September 18, 2026
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Trade facilitation and digitalisation support regional economic cooperation through simpler customs procedures, paperless exchange, resilient supply chains, and MSME access.
Priority measures included expanded intra-SCO trade, lower trade costs, resilient and diversified supply chains, trusted multimodal connectivity, greater market access, simplified customs processes, paperless trade and electronic document exchange. Digital and cross-border payments and accessible trade finance were identified to enable MSMEs and start-ups to participate in trade and value chains. Ministers agreed an Action Plan for 2026-2030 for further approval and approved regulations for a special working group on creative-economy development.
September 18, 2026
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Customs cooperation and trade facilitation advance electronic origin verification, pre-arrival information exchange, and safeguards against preferential trade misuse.
Customs cooperation and trade facilitation measures included pre-arrival information exchange, electronic verification of Certificates of Origin, and Customs automation and digitalisation. These measures are directed at facilitating legitimate trade while ensuring compliance with applicable rules and preventing misuse of preferential trade arrangements. Rail and road connectivity, freight movement, Integrated Check Posts and land-port infrastructure were reviewed to improve infrastructure utilisation and address operational bottlenecks affecting bilateral and transit trade.
September 18, 2026
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Preferential equity issuance approved to strengthen capital, support digital lending expansion, and fund subsidiary operations subject to required approvals.
OnEMI Technology Solutions Limited has approved a preferential issue of equity shares to identified investors, subject to shareholder and requisite regulatory and statutory approvals. The issuance is proposed under the Companies Act, 2013, the SEBI capital-issue and disclosure framework, other applicable SEBI regulations, and applicable law. Seventy-five per cent of the additional capital raised is proposed for infusion into its wholly owned subsidiary to support lending, technology, digital capabilities and product expansion, while the remaining twenty-five per cent is proposed for general corporate purposes.
September 18, 2026
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Fraudulent input tax credit claims through bogus invoices prompted arrest over alleged invoicing without actual supply of goods.
Alleged fraudulent availment, utilisation and passing on of inadmissible input tax credit involved invoices from purported suppliers found to be non-existent, non-functional, suspended or cancelled. Input tax credit was allegedly claimed without actual receipt of goods and passed on through invoices unsupported by corresponding supplies. Following investigation and recorded statements, the proprietor of an iron and steel trading firm was arrested under statutory arrest powers, while further investigation remains in progress.
September 18, 2026
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Direct tax collections: stronger advance tax payments support growth in corporate, non-corporate, and securities transaction tax receipts.
Direct tax collections grew through September 17, supported principally by increased advance tax payments from corporate and non-corporate taxpayers. Gross collections exceeded Rs 14.32 lakh crore, while net collections, after refunds, exceeded Rs 12.12 lakh crore. Corporate tax collections grew more strongly than non-corporate tax collections, and Securities Transactions Tax receipts recorded significant growth. The trend indicated broad-based tax buoyancy, supported by underlying economic activity, taxpayer confidence and business performance.
September 18, 2026
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Reusable consent-based KYC enables integrated onboarding, reporting, record updates and periodic re-verification for regulated financial institutions.
Central KYC-based onboarding enables regulated financial institutions to reuse a customer's existing verified identity record through the Central KYC Registry with customer consent. The integrated solution supports onboarding, KYC reporting, unsolicited notifications and re-KYC. It retrieves consented KYC records through CKYC APIs, uses facial matching or video-based customer identification for authentication, and applies AI-based duplicate detection. Reporting automates validation, image correction and real-time registry submission, while record updates and simplified periodic re-verification support the currency of institutional KYC information.
September 18, 2026
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Benchmark interest rate normalisation raises borrowing costs while monetary policy monitors inflation, wage growth, currency risks, and economic recovery.
The Bank of Japan increased the uncollateralised overnight call rate from 1.0 per cent to 1.25 per cent, advancing monetary-policy normalisation after a prolonged period of near-zero or negative rates. The increase was assessed against gradual economic recovery, inflation near its target, wage growth, currency fluctuations, elevated crude oil prices, and external risks. Further tightening remains contingent on stable price increases, wage developments, and monitoring of other risks.
September 18, 2026
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Direct tax collections reflect stronger advance tax payments, alongside increased corporate tax, securities transaction tax, and refund issuance.
Net direct-tax collections exceeded Rs 12.12 lakh crore through 17 September, reflecting 13 per cent growth following increased advance-tax receipts. Gross direct-tax collections exceeded Rs 14.32 lakh crore, while refunds exceeded Rs 2.20 lakh crore. Corporate-tax and non-corporate tax collections increased, as did Securities Transaction Tax collections. Advance-tax receipts exceeded Rs 5.22 lakh crore, comprising increased corporate advance tax and non-corporate advance tax payments.
September 18, 2026
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Upper-layer NBFC listing compliance sharpens corporate governance conflict over public accountability, shareholder liquidity, and preservation of private ownership.
Tata Sons' status as an upper-layer non-banking financial company has brought its proposed public listing into focus after the Reserve Bank of India rejected its application to voluntarily surrender core investment company registration. Tata Sons is required to take steps to comply with the enhanced regulatory framework applicable to upper-layer NBFCs, which includes stock-market listing. Classified in 2022, Tata Sons did not meet the original listing deadline and had pursued deregistration after repaying debt.
September 18, 2026
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Upper-layer NBFC compliance places Tata Sons on a listing-oriented path emphasising transparency, governance, shareholder visibility, and philanthropic continuity.
Reserve Bank of India rejection of Tata Sons' application to surrender its core investment company registration requires compliance with the upper-layer non-banking financial company regulatory framework. The resulting regulatory path is associated with public listing. Shapoor Mistry supports listing as a means to enhance transparency, shareholder visibility, and corporate governance accountability, while potentially clarifying the holding company's value and supporting a durable flow of value towards charitable activities without compromising Tata's philanthropic mission.
September 18, 2026
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Duty-free market access will cover all covered exports upon entry into force under the bilateral free trade agreement.
Upon entry into force, the India-New Zealand Free Trade Agreement grants duty-free access in New Zealand for 100 per cent of Indian exports, including textiles and apparel, leather and footwear, engineering goods, pharmaceuticals, agriculture, and processed food products. It also provides enhanced preferential access to the Indian market for specified New Zealand exports. The Agreement further covers services, investment, professional, student and youth mobility, and cooperation in agricultural productivity, pharmaceuticals and medical devices, traditional medicine and AYUSH, technology, and trade facilitation.
September 18, 2026
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Competition clearance for additional shareholding acquisition facilitates increased investment in Azure Power's renewable energy business by OMERS Infrastructure.
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September 18, 2026
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Competition approval for interconnected acquisitions enables shared equity acquisition in Great White and sole control acquisition in ITVIS.
Competition-law approval covers an interconnected combination involving acquisition of 50% of Great White Global Private Limited's issued and paid-up equity share capital by EAAA Acquiring Entities and the Continuing Promoter group, through inter-connected steps using an acquisition special purpose vehicle that will merge into Great White. The combination also includes Mr. Mehul Shah's acquisition of sole control over ITVIS Innovations Private Limited.
September 18, 2026
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Competition approval for acquiring three Royals franchises covers cross-border professional cricket franchise ownership interests and related transaction arrangements.
Competition Commission of India granted competition approval for the proposed combination involving Westview Cricket Limited and Poonawalla Sports and Fitness Private Limited acquiring the Rajasthan Royals, Paarl Royals and Barbados Royals professional cricket franchises. The franchises operate respectively in India, South Africa and Barbados, with Rajasthan Royals participating in the Indian Premier League T20 cricket tournament organised by the Board of Control for Cricket in India.
September 17, 2026
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Sanctions bill permits punitive tariffs on oil and gas trading partners, raising energy-market and bilateral relationship concerns.
United States sanctions bill concerning Russia would authorize the President to impose sanctions on Russia and punitive tariffs of up to 100 per cent on nations importing Russian crude oil. The tariff mechanism may affect oil and gas trading partners, bilateral relations and global energy markets, with concern expressed over its implications for energy trade.
September 17, 2026
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Secondary sanctions on Russian energy trade could expose major crude importers to punitive tariffs and economic pressure.
Congressional legislation targeting Russia and Iran would authorise sanctions against Russia's leadership, energy sector, and vessels facilitating evasion of oil-delivery restrictions. It would also permit punitive tariffs of up to 100 per cent on leading trading partners continuing to import Russian oil and gas. India has identified possible effects on bilateral economic relations and the international energy market, while maintaining that diversified sourcing is necessary for energy security and that its trade and economic interests will be protected.
September 17, 2026
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Trust-nominated director consent shapes the contested chairmanship reappointment as regulatory classification renews pressure to consider a stock-market listing.
Validity of the reappointment is therefore contested under the company's internal governance framework despite the majority board vote, and the appointment is expected to be considered for ratification at the annual general meeting. The dispute also concerns the distinction between shareholder influence and directors' decision-making duties. A Trust sought to direct its nominee director to oppose a listing, but the director declined on the basis of independent director duties.
September 17, 2026
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Selective capital reduction offers a proposed shareholder-liquidity route while preserving private-company status, subject to valuation and approval scrutiny.
Tata Trusts has placed before the Tata Sons board a framework for the Shapoorji Pallonji Group to monetise part of its Tata Sons shareholding without requiring a public listing. The transaction would be valued under Rule 11UA principles, completed in two tranches over 18 months, and require Tata Sons to commence a selective capital reduction process before the National Company Law Tribunal. Completion remains contingent on financing capacity, regulatory and tribunal approvals, and scrutiny of valuation, shareholder treatment, and the legal validity of the capital-reduction structure.

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BCBA to Host India Logistics Conclave 2026 at The Taj Mahal Palace, Mumbai

June 15, 2026

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On 17 June 2026, government, ports, customs and industry leadership will convene under the theme “One Fraternity, One Vision — Logistics Driving India Towards Viksit Bharat”
The Brihanmumbai Custom Brokers' Association (BCBA) — the apex body of the customs-broking fraternity in Mumbai — will host the second edition of its flagship policy forum, the India Logistics Conclave 2026, on 17 June 2026 at The Taj Mahal Palace, Mumbai. Building on the success of the inaugural 2024 edition, which drew more than 550 stakeholders from across government, trade and industry, this year's Conclave will convene senior policymakers, port and customs leadership, trade economists and industry principals under the theme “One Fraternity, One Vision — Logistics Driving India Towards Viksit Bharat.”
The single-day gathering is designed as a coherent dialogue on the forces reshaping India's trade-and-logistics ecosystem — from the long-horizon roadmap for Viksit Bharat 2047 to the immediate realities of digital customs, shifting geopolitics, infrastructure delivery, and the evolving role of the licensed intermediary. The programme reflects the BCBA's conviction that the customs broker and freight forwarder are no longer back-office facilitators but front-line growth partners in the nation's trade story.


Inaugural Session. The Conclave will open with an inaugural session bringing together the senior leadership of Indian Customs and the country's ports ecosystem. The dais is expected to feature Shri Yogendra Garg, Member (Customs), CBIC; Shri Gaurav Dayal, IAS, Chairman, JNPA; Dr M Angamuthu, IAS, Chairman, Mumbai Port Authority; Shri Shyam Jagannathan, IAS, Director General of Shipping; Capt. Deepak Tiwari, Managing Director, MSC India and Chairman, CSLA; Capt. BVJK Sharma, CEO, Navi Mumbai International Airport; and Shri Niraj Ambani, Group President — Supply Chain, Reliance Industries, among other dignitaries. Shri Vivek Chaturvedi, Chairman, CBIC, is expected to address the gathering online. The session will also felicitate industry veterans for their distinguished contribution to the EXIM community.


Speaking ahead of the Conclave, Mr Sanjeev Harale, President, BCBA, said: “In a landscape marked by geopolitical shifts and supply-chain realignment, India has emerged as a balanced and credible voice. With logistics costs falling and policy maturing, the sector now sits at the heart of national development. The need of the hour is not merely to respond to change, but to shape it — and that is precisely what this Conclave seeks to do.”
Mr Dushyant Mulani, Immediate Past President, BCBA, under whose stewardship the inaugural edition of the India Logistics Conclave was held in 2024, added: “What began as an idea in 2024 has grown into a movement. This second edition reaffirms that the customs-broking fraternity is ready to sit at the high table of national logistics policy and contribute as an equal partner.”
Mr Paresh Thakkar, Senior Vice President, BCBA, said: “The customs broker is the silent force that keeps India's Exim trade moving. As the key stakeholder coordinating between Customs, Ports, Participating Government Agencies, shipping lines, CFSs and every link in the EXIM chain, the broker is the thread that holds the trade ecosystem together. This Conclave is our declaration that we will lead, we will innovate, and we will help build the Viksit Bharat of 2047.”
The Association is especially encouraged by the participation of speakers and dignitaries from across India, together with key members of the Federation of Freight Forwarders' Associations in India (FFFAI) from other cities — a reflection of the Conclave's growing national stature.


Four Plenary Sessions. The day will be structured around four themed plenaries. The first, “India 2030, 2035, 2047 — A Roadmap for Viksit Bharat,” will frame the logistics agenda across three horizons of structural transformation. The second, “Building India's Digital Spine — Customs & Trade,” will examine the move toward a unified national customs platform, 24-hour clearance and AI-driven risk management. The third, “Geopolitics and the New Geometry of Trade,” will address FTA utilisation, sea-lane risk and the China Plus One opportunity. The fourth, “Policy and Infrastructure — Building India's Futuristic Logistics Ecosystem,” will turn to the policy architecture that converts hard infrastructure into a future-ready, interoperable logistics network.


The panels will draw an eminent cross-section of voices from policy, ports, industry and academia, including senior representatives of the Central Board of Indirect Taxes & Customs, the Jawaharlal Nehru Port Authority, the Land Port Authority of India, leading economists and thinkers, technology providers powering the customs interface, and principals from across the shipping, terminals and freight-forwarding ecosystem. The discussions will be moderated by senior leaders of the customs-broking and freight-forwarding fraternity.


Valedictory. The Conclave will conclude with a valedictory session, “Custom Brokers and Freight Forwarders — Growth Partners,” featuring a concluding keynote address by Mr Dhimant Parekh, Founder, The Better India, alongside reflections from senior BCBA leadership on repositioning the profession as a recognised trade-facilitation partner within the CBIC, DGFT and PGA framework.


With Gratitude to Our Partners
The BCBA places on record its sincere appreciation to the partners and sponsors whose support makes the India Logistics Conclave 2026 possible:
Platinum Sponsor: Jawaharlal Nehru Port Authority (JNPA)
Gold Sponsors: Navi Mumbai International Airport (NMIA) • Softlink Global
Silver Sponsor: Reliance Industries Limited
Lunch Sponsor: Parekh Group (Seastar Global, Parekh Marine, Seabridge Marine)
Kit Sponsor: Polaris Logistics • Conex Terminal • Globicon CFS
Seat Sponsor: Galaxy Freight Pvt Ltd
Lanyard Sponsor: Mumbai Cargo Service Centre
High Tea Sponsor: Unifo Pvt Ltd
Banking Partner: DBS Bank
Bronze Sponsors: Aegis Logistics • Budget CFS • Clearship Group • Divya CPP • Eastern Cargo • EFC CFS • Goodrich Maritime • Hans Infomatics • Hind Terminal • Malca-Amit JK Logistics • MSC • Nikhil Logistics • Om Freight • SkyHigh Airport • U M Khona & Co • Vanguard Logistics
The Association further extends its gratitude to its Associate Sponsors and Souvenir Partners for their valuable support to the Conclave.


Members of the press are cordially invited to attend the Conclave. For accreditation, interviews with the BCBA leadership, or further information, kindly contact the BCBA Secretariat at the details below.


About BCBA
Founded in 1939, the Brihanmumbai Custom Brokers' Association is the largest and oldest body of customs brokers in India, representing a fraternity that serves as the connective tissue of the nation's EXIM trade. Through advocacy, capacity-building and policy engagement, the BCBA works to advance trade facilitation, professional standards and the modernisation of India's customs and logistics ecosystem.


Media Contact
Brihanmumbai Custom Brokers' Association, Mumbai Tel: +91-22-43119100 / 9101 | Email: [email protected] | Web: www.bcbaind.com
(Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR

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