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    2 TCS employees booked for abetment over colleague''s ''suicide'', company says it is ascertaining facts
    What recession? India remains fastest-growing major economy, says Fadnavis
    Retail inflation quickens to 3.93 pc in May, shows govt data
    NDA leadership brought Bihar to brink of bankruptcy: Tejashwi Yadav
    India's forex reserves drop USD 711 mn to USD 681.610 bn: RBI data
    DRI seizes 71 lakh smuggled foreign-origin cigarette sticks worth Rs. 14 crore in North-East Region; four persons arrested
    CBDT organises outreach webinar on “Decoding the new Income-tax Act, 2025: International Tax and Transfer Pricing Aspects”
    Unimech Aerospace rebounds from a tariff-hit year; order book triples to ~Rs. 314 crore as scale becomes its competitive moat
    Retail inflation inches up to 3.93 pc in May: Govt data
    India-EU FTA to spur German-Indo trade, open new investment avenues: Envoy
    TCS launches India's first Oracle AI Data platform lab in Kolkata
    ED issues fresh summons to former Kerala CM’s daughter in PMLA case
    ED issues fresh summons to Pinarayi Vijayan's daughter Veena
    A&H Finverse Redefines Business Lending in India with Decade-Long Expertise and Pan-India Expansion
    Clever Hunt Pvt. Ltd. Secures Rs 75 Cr Structured Debt from Syndicate Finance to Boost Exports and Expand Manufacturing in India.
    Rupee surges 65 paise to 95.20 against US dollar in early trade
    India’s FTAs with Developed Economies to Support Growth, Innovation, Quality Upgradation and Job Creation: Union Minister of Commerce & Industry Shr...
    Union Minister of Commerce & Industry Shri Piyush Goyal to visit Switzerland from June 12-13, 2026
    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman participates in virtual meeting on Global Convergence for Growth Summit, from N...
    Parliamentary panel on commerce holds discussions on Indo-US trade ties at Raipur meeting
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    June 12, 2026
    Show AI Summary
    Abetment to suicide allegations arise after a workplace death, with the company saying it is ascertaining the facts.
    Police registered a case of alleged abetment to suicide against three persons, including two employees of an IT company, after the death of a 48-year-old staffer. The complaint relied on a purported suicide note alleging defamatory emails, repeated humiliation before colleagues, denial of favourable work assignments, assignment of work outside the victim's expertise, and pressure to resign. The company said it was ascertaining the facts and reaffirmed its commitment to a respectful and inclusive workplace.
    June 12, 2026
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    Economic resilience and strong growth keep India ahead of recession forecasts amid robust GDP and reserves.
    India's economic performance was described as resilient despite recession forecasts, with the current growth rate stated to be the highest in the world. GDP growth was reported at 7.8 per cent in the January-March quarter and FY26 expansion at 7.7 per cent, while India was said to have become the world's fourth-largest economy and to be moving towards a USD 5 trillion economy. The account also highlighted large foreign exchange reserves, claimed debt-repayment capacity, and strong digital payment adoption through UPI.
    June 12, 2026
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    Retail inflation pressures intensify as food costs and fuel pass-through lift CPI and widen upside risks for monetary policy.
    Retail inflation rose to 3.93 per cent in May 2026, driven mainly by higher food prices and the pass-through of rising global energy costs into domestic petrol and diesel rates. CPI-based food inflation increased to 4.78 per cent, with sharp price pressures in perishables and other items, while the RBI's inflation objective remains 4 per cent within a tolerance band of 2 per cent on either side. The RBI had raised its inflation projection for the current fiscal year to 5.1 per cent.
    June 12, 2026
    Show AI Summary
    Contingency fund use for routine pension payments raises questions over unforeseen expenditure limits and fiscal management.
    Withdrawal from the Bihar Contingency Fund for pension payments was criticised on the ground that contingency money is meant only for unforeseen or emergent expenditure. The state's fiscal condition was described as strained, and the Bihar Contingency Fund (Amendment) Ordinance, 2025 was cited as allowing temporary enhancement of the fund up to 10 per cent of the annual expenditure budget.
    June 12, 2026
    Show AI Summary
    Foreign exchange reserves decline as lower foreign currency assets are partly offset by higher gold reserves.
    India's foreign exchange reserves declined to USD 681.610 billion in the week ended 5 June 2026, mainly due to a sharp fall in foreign currency assets. The decrease was partly offset by higher gold reserves, a marginal rise in special drawing rights, and the reported IMF reserve position.
    June 12, 2026
    Show AI Summary
    Anti-smuggling operations target foreign-origin cigarette trafficking across the North Eastern Region with major seizures and arrests.
    The Directorate of Revenue Intelligence conducted coordinated anti-smuggling operations in the North Eastern Region against foreign-origin cigarettes. Since May 2026, the operations led to seizure of about 71 lakh sticks of smuggled cigarettes, cumulatively valued at approximately Rs. 14 crore, and the arrest of four persons. A major seizure was made in Mizoram on 11 June 2026, where more than 45 lakh sticks were recovered with assistance of the 34th Battalion, Assam Rifles, and preliminary investigation indicated smuggling from Myanmar through the Zokhawthar sector.
    June 12, 2026
    Show AI Summary
    International tax and transfer pricing outreach highlights the transition to the new Income-tax Act and compliance mechanisms.
    The Income Tax Department and PwC India organised an outreach webinar on the transition to the Income-tax Act, 2025 and the new Income-tax Rules, 2026, focusing on international tax and transfer pricing. The session discussed cross-border transfer pricing, international cooperation, India's role in the global taxation ecosystem, and the relevance of Advance Pricing Agreements and Safe Harbour provisions for certainty and compliance.
    June 12, 2026
    Show AI Summary
    Precision engineering scale strengthens customer embedment as Unimech Aerospace reports order-book growth and a sharp quarterly recovery.
    Unimech Aerospace & Manufacturing Ltd. reported a rebound after tariff-related ordering delays, with its order book tripling to about ?314 crore and Q4 FY26 showing a sharp recovery in revenue, EBITDA and PAT. The company said more than 200 first-article qualifications were completed, several converting into production, and described its integrated manufacturing and qualification platform as the basis of stronger customer embedment and switching costs. It also highlighted the Hobel Bellows acquisition, nuclear orders, indigenous micro gas turbine development, and a Saudi joint venture as part of its growth strategy.
    June 12, 2026
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    Retail inflation rises on higher food and fuel prices as RBI lifts inflation outlook for the fiscal year.
    Retail inflation rose to 3.93 per cent in May, driven by higher food prices, while CPI food inflation increased to 4.78 per cent. The Reserve Bank of India factors CPI inflation in monetary policy and has a mandated headline inflation target of 4 per cent with a 2 per cent tolerance band. The RBI also raised its inflation projection, citing mounting input costs and the pass-through of higher global energy prices to retail petrol and diesel prices.
    June 12, 2026
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    India-EU free trade agreement seen as boosting Germany-India trade, manufacturing, IT and renewable energy cooperation.
    The proposed India-European Union Free Trade Agreement is expected to strengthen Germany-India trade relations and create additional opportunities for German companies to expand their presence in India. The focus includes manufacturing and information technology, with interest extending beyond established hubs such as Pune and Bengaluru to other regions of the country. Cooperation is also described in the fields of renewable energy, solar energy, environment and sustainable development, supported by the Indo-German Green and Sustainable Development Partnership.
    June 12, 2026
    Show AI Summary
    Enterprise AI and data transformation expand with a new platform lab for scalable analytics and automation.
    Enterprise AI and data transformation infrastructure was expanded through the launch of an Oracle AI Data Platform Lab and Centre of Excellence designed to address fragmented data systems, slow analytics cycles, limited AI scalability and operational inefficiencies. The facility is intended to make enterprise data AI-ready and support deployment of AI-powered applications and automation at scale using Oracle Cloud Infrastructure, Oracle Autonomous AI Database and OCI Enterprise AI. Similar labs and centres are planned in additional Indian cities.
    June 12, 2026
    Show AI Summary
    Money laundering probe over alleged CMRL-Exalogic transactions leads to fresh summons and document production requirements.
    Enforcement Directorate issued a fresh summons in a money laundering probe involving CMRL and Exalogic Solutions Private Limited, requiring appearance with relevant documents. The inquiry concerns alleged payments without services and a loan transaction said to have generated proceeds of crime, with the case registered under the Prevention of Money Laundering Act on the basis of an SFIO complaint.
    June 12, 2026
    Show AI Summary
    Money laundering probe over alleged fraudulent company transactions and bogus expenses leads to fresh questioning summons.
    Enforcement Directorate issued fresh summons in a money-laundering probe over alleged fraudulent transactions between a defunct IT company and a Kerala-based sand mining company. The investigation concerns consultancy-linked payments, loans despite repayment default, and whether the transactions generated proceeds of crime. The background also refers to alleged bogus expenditure entries, cash generation, prior searches, admissions before tax authorities, and a prosecution complaint filed after the complaint-based investigation.
    June 12, 2026
    Show AI Summary
    Responsible lending drives A&H Finverse's pan-India expansion, offering customised financing for complex business needs.
    A&H Finverse has been launched as the evolved identity of A&H Capital, with a continued emphasis on responsible lending, transparency, fairness and ethical business finance. It positions itself as a specialist in large-ticket and complex financing needs, offering customised solutions through unsecured business loans, structured finance, construction finance, trade finance, working capital solutions, crisis funding, capital raising through NCDs and structured instruments, and sector-specific funding. The firm also highlights its pan-India expansion, including South India and a branch office in Kolkata.
    June 12, 2026
    Show AI Summary
    Structured debt financing supports export-led manufacturing expansion, operational nization, and supply-chain strengthening for a textile exporter.
    A textile manufacturer and exporter secured a structured debt facility to support export-led growth, including execution of confirmed overseas orders, procurement, manufacturing, inventory management, logistics, packaging, shipment, and related working-capital needs. The secured corporate debt arrangement was tailored to the company's export cycle, liquidity requirements, and commercial expansion plans, and was also intended to fund manufacturing expansion, process automation, quality assurance systems, compliance infrastructure, and supply-chain strengthening.
    June 12, 2026
    Show AI Summary
    Rupee movement strengthens as weaker dollar, lower crude prices, and improved market sentiment support early forex trade.
    Rupee movement in early foreign exchange trade was influenced by retreating global crude oil prices, a weaker US dollar, and improved domestic equity-market sentiment. The local unit opened stronger and moved higher against the US dollar after earlier weakness, with traders attributing the gain to reduced oil-price pressure following indications of an imminent Iran-related deal and the cancellation of planned military strikes.
    June 12, 2026
    Show AI Summary
    Free trade agreements with developed economies are positioned as engines for investment, innovation, jobs and quality upgradation.
    India's strategy of entering free trade agreements with developed economies is aimed at supporting long-term growth through expanded global engagement, investment inflows, innovation, job creation, quality upgradation and deeper participation in international trade. The India-EFTA Trade and Economic Partnership Agreement is described as a framework for trade, investment and innovation-led cooperation, with the EFTA countries committing investment support and direct job creation over the implementation period, while India provides access to a large and growing market.
    June 12, 2026
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    Trade and economic partnership implementation drives ministerial talks on bilateral trade, investment, and industrial cooperation.
    India's economic engagement with Switzerland and the EFTA States is to be advanced through ministerial discussions focused on implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA). The visit includes meetings with Swiss Government representatives and pharmaceutical industry leaders, with attention to operational issues, bilateral trade, investment and economic cooperation. Interaction with Swiss companies and investors will further explore opportunities for expanding trade and deepening collaboration.
    June 12, 2026
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    Global imbalances and multilateral cooperation require stronger development finance, resilient supply chains, and fairer burden sharing.
    Global growth requires coordinated action through strengthened multilateral cooperation, with particular attention to the disproportionate effects of conflicts, uncertainty and global imbalances on developing countries and the Global South. Policy responses should focus on excessive and persistent imbalances while recognising differing domestic needs across countries, and adjustment burdens should not fall on countries that are not the source of such imbalances. Stronger and more representative multilateral institutions, including Multilateral Development Banks with greater financing capacity, and resilient, diversified supply chains are needed.
    June 11, 2026
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    India-US trade relations discussed through stakeholder consultations on exports, investment, and market access for agro-products.
    Parliamentary committee on commerce reviewed India-US trade relations with stakeholders and industry bodies, examining bilateral trade, investment, exports, imports and broader economic cooperation. The discussions focused on strengthening trade ties, promoting exports and expanding global market access for agricultural and processed food products, with inputs drawn from producer, processor and exporter associations, along with representatives of relevant ministries and export development bodies.

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      Customs & Trade

      India and Slovakia elevate ties to comprehensive partnership, sign 11 pacts

      June 15, 2026

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      Bratislava, Jun 15 (PTI) India and Slovakia on Monday elevated their ties to a comprehensive partnership and firmed up 11 agreements to expand the bilateral cooperation in a range of areas such as migration, digital technology and defence following talks between Prime Minister Narendra Modi and his Slovak counterpart Robert Fico.

      The two leaders also agreed to work towards the "earliest" implementation of the India-European Union free trade agreement that is expected to significantly shore up the bilateral economic engagement.

      Modi is in Bratislava as part of his weeklong visit to Europe. It is the first visit to the European nation by an Indian prime minister.

      "We have decided to elevate our relations to the status of a Comprehensive Partnership. This symbolises our shared beliefs, shared priorities, and shared future," he said in his media statement.

      The comprehensive partnership aims to take bilateral relations to a new level, strengthen existing cooperation mechanisms and explore new avenues for deepening cooperation, both bilaterally and multilaterally.

      The prime minister said he and Fico discussed ways to give a "new direction" to the ties.

      Modi and Fico also agreed to enhance cooperation in the energy sector with a view to promoting energy security, sustainability and resilience through diversification of energy sources, including nuclear energy and geothermal power.

      "Our potential is vast. Our aspirations are even greater. Automobiles, railways, advanced manufacturing, and green technologies are areas of particular interest to us," he said.

      "Today, we combined our strengths on all these issues and took several important decisions for the benefit of the people of both countries." Modi also said that the defence cooperation between India and Slovakia is a testament to the "deep mutual trust and strategic convergence" between the two sides.

      A Letter of Intent was finalised on defence cooperation following the talks between the two leaders.

      The prime minister said it will give new momentum for cooperation between the defence industries of the two sides.

      "India and Slovakia are also moving forward with close coordination on the global stage. We agree that all disputes and tensions should be resolved peacefully," he said.

      "We also agree that global institutions need to redefine themselves to address the realities and challenges of the 21st century. We will work to strengthen global efforts in this regard," he added.

      Modi also conveyed his appreciation to PM Fico for the cooperation Slovakia extended in finalising the India-EU free trade agreement.

      "We will work towards its earliest implementation so that industries, startups, and traders of both countries can derive maximum benefit from it," he said.

      In his remarks, PM Fico hailed the India-EU FTA, describing it as one of the "most ambitious" trade pacts ever signed.

      "Slovakia not only welcomes this agreement, but it will take the necessary and practical steps for the implementation of this agreement," he said.

      The agreements inked following Modi-Fico talks are set to provide for deeper bilateral cooperation in areas of labour migration, defence, digital technologies, higher education and quantum communication.

      In the meeting, the two leaders, recognising the growing geopolitical, economic and technological importance of the Indo-Pacific, acknowledged the value of a stronger partnership between India and Slovakia in support of mutually beneficial cooperation, regional connectivity, open international trade, freedom of navigation, and peaceful resolution of disputes, according to a joint statement.

      Modi and Fico expressed support for the orderly, safe and legal mobility of skilled professionals and welcomed the signing of the Memorandum of Understanding on cooperation in the field of labour migration to facilitate mobility.

      The two sides also agreed to work towards the early conclusion of a Social Security Agreement, which would contribute to safeguarding the welfare and social protection of working professionals engaged in mobility between India and Slovakia.

      The statement said Modi and Fico supported comprehensive reforms of multilateral institutions, particularly the UN Security Council. In this context, India appreciated Slovakia's continued support for India's permanent membership in a reformed and expanded UN Security Council.

      The two leaders also unequivocally condemned terrorism in all its forms, including cross-border terrorism, and strongly condemned the Pahalgam terror attack.

      They agreed to establish a Joint Working Group on Counter- Terrorism and called for concerted international efforts to combat terrorism in a comprehensive and sustained manner, the joint statement noted.

      It said the leaders reaffirmed their commitment to strengthening bilateral and multilateral cooperation in counterterrorism, including within the framework of the UN and called for strong and decisive action against terrorists and terrorist entities, including those designated by the United Nations Security Council 1267 Sanctions Committee.

      Modi and Fico further underscored the importance of holding perpetrators, organisers and sponsors of terrorist acts accountable and agreed to work closely towards the early finalisation and adoption of the Comprehensive Convention on International Terrorism (CCIT) within the UN framework. PTI MPB ZH ZH

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