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    Strict action to be taken against ministers, MLAs involved in corruption: Bihar CM
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July 2, 2026
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Anti-corruption enforcement strengthens vigilance courts, district police stations and witness support under transparency, technology and trust.
Strict anti-corruption enforcement will be applied against ministers, MLAs and officials found involved in corruption, with a zero-tolerance approach and action by vigilance and economic offences agencies. The state will strengthen corruption control through Transparency, Technology and Trust, establish Special Vigilance Courts, Vigilance Police Stations and Vigilance Outposts, provide transport allowance to witnesses, and promote anti-corruption awareness in schools.
July 2, 2026
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Export quality standards support Himachal Pradesh's first cherry and plum shipment reaching Oman, widening horticulture market access.
Himachal Pradesh's first export consignment of fresh cherries and plums has reached Oman, marking an initial international market entry for the state's horticulture produce. APEDA's regional office ensured compliance with international quality, grading, packaging and phytosanitary standards, while coordinating farmers, farmer producer organisations, cooperatives, exporters, HPMC, state departments and logistics partners. The development is presented as a step toward better returns for farmers and wider market access for horticulturists.
July 2, 2026
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Disinvestment and asset monetisation accelerate as the government boosts non-tax revenues and advances major divestment plans.
The government has accelerated disinvestment and asset monetisation to augment non-tax revenues amid fiscal pressure, raising about 31 per cent of its full-year target in the first quarter through offer for sale transactions and Infrastructure Investment Trust-based monetisation. It plans to strengthen the divestment pipeline further, with Life Insurance Corporation and IDBI Bank identified as major prospective transactions under the miscellaneous capital receipts framework.
July 2, 2026
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Cross-border remittance payments gain near real-time speed as Swift's retail framework enables faster, more transparent transfers to India.
Cross-border remittance payments to India are being processed through Swift's new retail payments framework with near real-time credit, end-to-end transparency, upfront cost certainty and no hidden foreign exchange deductions. Standard Chartered announced that it processed the first transaction under the scheme, completing the payment end-to-end in 37 seconds and demonstrating that participating banks can send money to India through Swift rails with settlement speed approaching domestic payment systems.
July 2, 2026
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Data sovereignty drives the launch of a sovereign cloud platform with built-in compliance, Indian jurisdiction and automated deployment.
Swaraj Cloud is launched as an AI-autonomous sovereign cloud platform built and operated entirely in India, with servers, storage, networks and workload processing designed to remain under Indian ownership and Indian legal jurisdiction. It is presented as addressing data sovereignty and residency obligations under the DPDP Act, MeitY cloud requirements and RBI cloud guidelines by embedding sovereignty at the infrastructure level. The platform also includes a Prompt-to-Production Solution Generator, compliance mapping, Indian Rupee billing, automated deployment and a broad stack of cloud, AI, security and compliance services.
July 2, 2026
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Global competitiveness of the AYUSH sector gains focus through quality assurance, branding, exports and international collaboration.
Government-industry stakeholders reviewed strategies to strengthen the global competitiveness of the AYUSH sector through innovation, quality assurance, branding, exports and international collaboration. The discussions covered export facilitation, scientific validation, WHO-GMP compliance, the Ayush Quality Mark, regulatory and market access challenges, and the need to expand global recognition for Indian AYUSH products and services. The session emphasised capacity building, international outreach, and alignment of Indian standards with international benchmarks.
July 2, 2026
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Seafood value addition skills gain focus as MPEDA promotes training, quality assurance and export-oriented processing excellence.
MPEDA organised the second National Skill Olympiad on seafood value addition at Seafood Expo Bharat 2026 to promote export-oriented seafood processing skills. The initiative followed 50 training programmes across the east and west coasts, where more than 2,500 workers and professionals were trained in preparing products demanded in international markets. Finalists were assessed on technical skill, hygiene, precision, presentation and product quality, alongside live demonstrations and tasting sessions of value-added seafood products.
July 2, 2026
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Mandatory Ship-to GSTIN and voluntary e-Way Bill closure reshape GST compliance, API validations, and delivery recording from August 2026.
Mandatory capture of Ship-to GSTIN is introduced for Bill-to/Ship-to and combination transactions in e-Way Bill and related e-invoice flows from 1 August 2026, with URP permitted where GSTIN is unavailable. The Ship-to GSTIN is captured only in the backend for verification and audit purposes and is not printed or shared through taxpayer-facing APIs. A voluntary e-Way Bill closure facility is also introduced, allowing closure after delivery by the supplier, recipient, transporter, driver or authorised person, through portal or API, with post-closure actions continuing during the initial stabilisation period.
July 2, 2026
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GST revenue collections show higher gross and net inflows, with domestic growth, import gains, and refund adjustments detailed.
Gross and net GST revenue collections for June 2026 were reported with a breakup of domestic revenue, import revenue, refunds, and net revenue. Gross GST revenue rose on a monthly and yearly basis, driven by higher domestic collections and stronger import-side IGST collections, while refunds were separately shown for domestic supplies and export-related refunds through ICEGATE. Net GST revenue was also presented after deducting refunds, and the figures were noted as provisional and subject to finalisation.
July 2, 2026
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Aggregate Annual Turnover amendment window revised on the GST Portal for FY 2025-26 with officer review timelines updated.
Aggregate Annual Turnover (AATO) functionality on the GST Portal is being upgraded to enable automatic updation of AATO as subsequent returns are filed after the amendment window. For FY 2025-26, taxpayers may submit AATO amendment applications from 1 July to 31 July 2026, and jurisdictional Tax Officers will review amended details from 1 August to 15 August 2026. The revised arrangement is intended to improve consistency, accuracy, and uniformity in AATO reporting.
July 2, 2026
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AI-generated precedents and judicial integrity: Supreme Court warns against hallucinated citations and demands human oversight in adjudication.
The Supreme Court stressed zero tolerance against citing, producing, or relying on fake, non-existent, or hallucinated precedents generated through artificial intelligence, and held that such material contaminates adjudication and undermines the sanctity of judicial decision-making. It said counsel commit misconduct by citing unverified AI-generated judgments, and that a judge's reliance on hallucinated material is an equally serious lapse. The Court also called for accountability measures and human oversight in the legitimate use of AI as an aid to adjudication.
July 2, 2026
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Money laundering probe over alleged CMRL-Exalogic transactions expands under PMLA amid payments without services and loan defaults.
Enforcement Directorate questioned the executive director of Cochin Minerals and Rutile Ltd. in a money laundering probe concerning alleged financial transactions between the company and Exalogic Solutions Pvt Ltd. The investigation concerns allegations that CMRL made payments without receiving corresponding services, and that related loan transactions were defaulted, forming the basis for examination of possible proceeds of crime under the Prevention of Money Laundering Act. The case was registered on the basis of a prosecution complaint filed by the Serious Fraud Investigation Office.
July 2, 2026
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Aadhaar update drive for students continues as education department says benefits and admissions will not be
Students in Maharashtra with non-updated Aadhaar records are being covered under an ongoing school-level registration and authentication drive, and the education department has stated that no student is to be deprived of government scheme benefits or educational opportunities because of pending Aadhaar updates. The minister said that around 5.5 lakh students up to 18 years of age had pending Aadhaar updates as of May 2026, but denied that this was affecting school admissions, scholarships, DBT access, examination forms or bank account linking.
July 2, 2026
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Competition approval for consortium acquisition of Royal Challengers Sports and its cricket franchise operations
The Competition Commission of India approved the acquisition of 100% shareholding of Royal Challengers Sports Private Limited by a consortium comprising Big Banyan Holdings, Bolt IPL Holdings, Times Internet, Times Cricket, ICQ Opportunities, Asia Investment Topco II and other investors. The combination involved collective acquisition by the identified acquirers, including newly incorporated investment and sports-related vehicles, and the target's business consists of owning and operating the Royal Challengers Bengaluru franchise and related professional cricket teams.
July 2, 2026
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Competition Commission approval for share acquisition in Krazybee Services and Finnovation Tech Solutions by Mars Equity Dragon Fund VCC.
The Competition Commission of India approved the acquisition of certain shares in Krazybee Services Limited and Finnovation Tech Solutions Private Limited by Mars Equity Dragon Fund VCC. The proposed combination concerns Krazybee, a non-deposit taking non-banking financial institution and middle layer Investment and Credit Company, and Finnovation, the technology company that operates the KreditBee app and provides loan sourcing and payment-service access, including Unified Payments Interface facilities.
July 2, 2026
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Competition approval for infrastructure investment trust acquisition and unit issuance in highway project vehicles.
Competition approval was granted for a proposed combination involving the acquisition of shareholding in seven special purpose vehicles by Anantam Highways Trust, an infrastructure investment trust, together with the issuance of units of the trust to Build India Infrastructure Fund, Dilip Buildcon Limited and DBL Infraventures Private Limited. The transaction covered the SPVs connected with highway and expressway projects, and the parties were described by reference to their roles in infrastructure investment, engineering and construction, and related project development activities.
July 2, 2026
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Competition law approval for acquisition of shareholding in an alternative asset management company by a global asset manager.
Competition law approval was granted for a proposed combination involving the acquisition of certain shareholding in Nippon Life India AIF Management Limited by DWS Group GmbH & Co. KGaA. The target is engaged in alternative asset management and acts as an investment manager and/or sponsor to SEBI-registered alternative investment funds, and is also registered as a co-investment portfolio manager.
July 1, 2026
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Tax revenue growth and AI-driven enforcement strengthen revenue mobilisation, with net GST and IGST settlements rising sharply.
State tax revenue recorded strong year-on-year growth in June 2026, with total collections rising to nearly Rs 5,000 crore and net GST increasing to Rs 3,144 crore. Commercial taxes for the first quarter of FY27 also increased substantially compared with the corresponding period of the previous year, led by growth in net GST and VAT on petroleum products. The revenue performance was attributed to improved tax compliance, stronger enforcement, enhanced revenue monitoring and broader economic activity.
July 1, 2026
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E-commerce customs duty and steel import quotas mark the EU's push to curb unfair competition and protect industry.
The European Union introduced new trade measures to address the surge in low-value e-commerce imports and protect domestic industry from unfair competition. The package removes the de minimis customs duty exemption for parcels valued below 150 euros and imposes a new 3 euro customs duty on small packages, while also introducing new steel import rules with tariff-free quotas, a 50 per cent out-of-quota duty, and enhanced traceability requirements for the melt and pour stage of production.
July 1, 2026
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GST compliance and tax administration drive Punjab's higher revenue collections, faster refunds, and stronger anti-evasion enforcement.
Punjab's GST revenue showed a substantial rise in the April-June quarter of FY 2026-27, with gross GST and SGST collections reflecting improved compliance, sustained economic activity and stronger tax administration. Timely GST refunds were issued to genuine businesses, while action against tax evasion included penalty recoveries, proceedings against bogus taxpayers for fake invoicing and fraudulent registrations, recovery of long-pending VAT dues through property auction proceedings, and an increase in VAT/CST collections.

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Customs & Trade

UK-India Week opens in the West Midlands with IGF Smarter Regions Forum

June 23, 2026

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10th edition of UK-India Week begins at the University of Warwick, bringing together leaders from Gujarat and the West Midlands to advance regional growth, investment and innovation
AHMEDABAD, India and COVENTRY, England, June 23, 2026 /PRNewswire/ -- India Global Forum's UK-India Week 2026 opened today in the West Midlands with the IGF Smarter Regions Forum, marking the start of the 10th edition of the biggest event in the UK-Indian calendar.




Hosted at the University of Warwick, the opening day brought together senior leaders from government, business, academia and industry to deepen the emerging regional partnership between Gujarat and the West Midlands. The programme forms part of the IGF Smarter Regions Exchange: West Midlands 2026, designed to translate the momentum in the UK-India relationship into practical collaboration across investment, innovation, skills, advanced manufacturing, clean energy, life sciences and regional growth.


The Forum featured participation from a high-level Government of Gujarat delegation, including Mamta Verma, Additional Chief Secretary, Industries and Mines Department, Government of Gujarat, and Dr. Vikrant Pandey IAS, Additional Principal Secretary to the Chief Minister, Government of Gujarat. The delegation's visit builds on recent exchanges between Gujarat and the West Midlands and reflects the growing importance of state-to-region partnerships in advancing the UK-India growth corridor.


Opening discussions examined how Gujarat and the West Midlands can build a stronger regional growth corridor through deeper cooperation in industry, investment, innovation and skills. The programme also included a Government of Gujarat presentation on the state's growth story and a fast-pitch showcase featuring representatives from manufacturing, textiles, finance and technology, focused on identifying concrete partnership opportunities in the UK.


The opening day will conclude with the IGF Leaders' Dinner at the National Automotive Innovation Centre, University of Warwick, bringing together senior UK and Indian figures for an evening of strategic exchange to unlock new pathways for investment, innovation and regional growth.


Manoj Ladwa, Founder and Chairman, India Global Forum, said:
"The West Midlands and Gujarat are not starting from sentiment; they are starting from strength. I know both places personally: one is Britain's manufacturing heartland, reinventing itself for the industries of the future; the other is one of India's great economic engines, defined by enterprise, ambition and execution.


Put those capabilities together and you have the makings of a serious UK–India economic corridor, built on capability, complementarity and trust. The task now is to turn dialogue into decisions, relationships into capital flows, and shared ambition into jobs, investment and long-term growth.


That is precisely why we are establishing the Gujarat–West Midlands Steering Committee: not simply to discuss opportunities, but to identify them, unlock them and deliver them. Success will not be measured by the meetings we hold, but by the partnerships we create, the investments we secure and the prosperity we generate for both regions."
Richard Parker, Mayor of the West Midlands, said:
"Our recent trade mission to India showed just how strong the relationship already is between the West Midlands and one of the world's fastest-growing economies. This week's programme, in partnership with India Global Forum, is about turning that momentum into real results, bringing investment into our region, creating opportunities for our businesses, generating jobs and strengthening collaboration across key sectors like advanced manufacturing, clean energy and life sciences.


As the UK and India move forward with a landmark Free Trade Agreement, the West Midlands is ready to play a leading role, connecting global partners with our world-class industries, talent and innovation ecosystem to drive long-term growth for both economies."
Mamta Verma, Additional Chief Secretary, Industries and Mines Department, Government of Gujarat, said:
"Gujarat comes to the West Midlands with a clear proposition: we are one of India's leading industrial and export engines, but we are also building for the future. From clean energy, advanced manufacturing and pharmaceuticals to GIFT City, semiconductors, fintech and sports, Gujarat offers scale, policy stability, world-class infrastructure and a strong commitment to execution.


The UK, and particularly the West Midlands, has deep strengths in innovation, advanced industries, finance, life sciences and skills. Together, we can build partnerships that move beyond trade alone and create new investment, technology collaboration, jobs and shared growth."
The opening of UK-India Week in the West Midlands comes at a pivotal moment for the bilateral relationship, following the ratification of the landmark UK-India Free Trade Agreement. This year's UK-India Week will also feature the first major joint appearances by India's Minister of Commerce and Industry, Piyush Goyal, and the UK Secretary of State for Business and Trade, Peter Kyle, following the FTA ratification milestone, underlining the strategic importance of the week as both countries move from agreement to implementation.


Now in its 10th edition, UK-India Week has grown into the foremost annual gathering of the UK-India corridor, convening political leaders, business chiefs, investors, innovators, entrepreneurs, policymakers and cultural voices from both countries. This year's programme spans the West Midlands and London, combining high-level forums, closed-door dialogues, curated roundtables, networking engagements and flagship awards.


A key highlight of the week will be Day 4, when IGF London 2026 hosts the Capital & Future Frontiers Forum at One Moorgate Place in London. The flagship forum day will bring together a curated group of global investors, policymakers, technology leaders, founders and senior decision-makers for discussions at the intersection of capital, technology and policy. The programme will focus on financing the UK-India innovation corridor, advancing cross-border capital flows and exploring frontier sectors including AI, quantum, energy transition, life sciences and deep tech.


UK-India Week will close with the UK-India Awards, the grandest celebration of UK-India relations, recognising the leaders, institutions, businesses and innovators shaping the future of the partnership. The awards will bring together a distinguished audience from politics, business, culture, technology and public life to celebrate the people and organisations driving the next chapter of the UK-India story.


UK-India Week is also anchored by the UK-India Future Forum, India Global Forum's strategic platform for advancing a future-facing UK-India partnership. UKIFF brings together leaders from government, business, investment, technology, academia and policy to shape long-term collaboration across trade, innovation, capital, climate, skills and security, with a focus on turning shared ambition into practical outcomes for both countries.


About India Global Forum
India Global Forum is a global platform for leaders from business, government, policy, academia and culture to engage with contemporary India and its growing role in the world. Through high-level forums, strategic dialogues, delegations, reports and curated networks, IGF works to advance partnerships, investment flows and thought leadership across the India growth story and its global corridors.


Social Media Handles & Hashtag to Follow
Twitter: @IGFUpdates & @manojladwa LinkedIn: India Global Forum
Photo: https://mma.prnewswire.com/media/2998778/IGF_Smarter_Regions_Forum.jpg' alt='Embedded Media' /> Logo: https://mma.prnewswire.com/media/2566069/6010968/IGF_Logo.jpg' alt='Embedded Media' />
(Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR

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