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    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
    India to remain fastest-growing major economy at 6.6 pc in FY27, down from 7.2 last year: World Bank
    Rupee slumps 60 paise to close at 95.85 against US dollar
    First gold jewellery shipment from Kolkata to Oman sent under India-Oman CEPA
    CPI(M) MP John Brittas urges FM to reconsider IDBI Bank privatisation
    ED to move SC against Delhi HC order quashing PMLA case against NewsClick
    India and Nepal Launch Cross-Border Remittance Mechanism to Strengthen Bilateral Financial Connectivity
    Rupee slumps 50 paise to close at 95.75 against US dollar
    Maritime trade is neither 'impeded nor endangered': Jaishankar in Bulgaria
    Haleon Announces ~₹2000 Crore Total Investment to Set Up its First Manufacturing Facility in India
    India continues to move forward on its growth trajectory amid global uncertainty: PM
    Govt extends excise duty exemption to higher ethanol-petrol blends
    RBI invites comments on Harmonisation and Consolidation of Instructions on Control / Assurance Functions
    RBI invites public comments on the draft Amendment Directions on ‘Standardised Approach for Counterparty Credit Risk (SA-CCR)’
    Ex-Kerala CM’s daughter seeks postponement of ED questioning in CMRL PMLA case
    Rupee slumps 32 paise to 95.57 against US dollar in early trade
    Govt waives excise duty on ethanol-blended petrol
    Commerce Secretary Urges Enhanced Trade, Investment and Business Engagement at India–Tajikistan Joint Commission Meeting
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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.
June 11, 2026
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Growth outlook for India moderates as higher energy costs weigh on demand, while tax cuts and trade support aid recovery.
India's growth is projected to moderate to 6.6 per cent in fiscal year 2026-27, with the slowdown linked to weaker private demand caused by higher energy prices and other input costs. Goods and Services Tax rate reductions are expected to support consumer demand, while fuel tax reductions and other measures have been used to ease price pressures. Reduced tariffs and expected free trade agreements may mitigate weaker external demand, with growth projected to rebound in subsequent fiscal years.
June 11, 2026
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Rupee weakness deepens as crude oil, capital outflows and global risk sentiment pressure the currency against the dollar.
The rupee weakened sharply in the interbank foreign exchange market and closed at a record low against the US dollar amid geopolitical tensions, a stronger greenback, foreign capital outflows and weak domestic equity sentiment. Traders said elevated crude oil prices and concern over India's import bill added pressure, while near-term movement was expected to depend on crude oil, capital flows and global risk sentiment. Commentary also noted RBI sensitivity to excessive currency volatility and continued selling by foreign institutional investors.
June 11, 2026
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Duty-free gold jewellery exports under India-Oman CEPA expand market access and boost exporter competitiveness.
Direct duty-free exports of gold jewellery from eastern India to Oman have commenced under the India-Oman Comprehensive Economic Partnership Agreement (CEPA), with the first consignment from Kolkata dispatched by air cargo. The agreement gives Indian gold jewellery and diamonds duty-free access in the Omani market and is described as improving exporter competitiveness by reducing routing costs and enabling faster deliveries. The CEPA also extends duty-free market access to a broader range of Indian goods and covers services and investment.
June 11, 2026
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Public banking sovereignty concerns arise over the proposed privatisation of IDBI Bank and its wider social impact.
Concern is expressed over the proposed strategic disinvestment and transfer of management control of IDBI Bank to the private sector, on the footing that the move implicates financial sovereignty, depositor confidence, social justice and the public character of banking. The note refers to the bank's origin as a development financial institution, its role in India's financial architecture, and the assurance that government ownership would not fall below 51 per cent, together with parliamentary caution against dilution of that level of control. Concern is also raised over the possible transfer of valuable land and other assets, the impact on employees, and the wider trend of foreign participation in Indian banking.
June 11, 2026
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Money laundering quashing dispute turns on false representation allegations, foreign investment concerns, and the prima facie test at quashing stage.
The Enforcement Directorate proposed to challenge a Delhi High Court order quashing money laundering proceedings against NewsClick and its editor-in-chief after the predicate FIR was set aside. The agency said the order overlooked allegations of false representations to authorities and banks regarding the investor, source and nature of funds, commercial character of the investment, and share valuation in the context of alleged foreign direct investment without required permission. The ED also said the quashing stage required only a prima facie view on whether the allegations disclosed an offence.
June 11, 2026
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Cross-border digital payments expand with a direct UPI-NPI remittance link enabling real-time transfers and financial inclusion.
Cross-border peer-to-peer remittance has been launched between India and Nepal through a direct linkage of India's Unified Payments Interface and Nepal's National Payments Interface, enabling seamless, real-time and secure instant money transfers through mobile banking applications and digital wallets. The arrangement is presented as a digital payment corridor intended to strengthen financial connectivity, improve convenience for travellers and businesses, and promote accessible, safe and affordable cross-border payments.
June 11, 2026
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Rupee weakness amid West Asia tensions, dollar strength and foreign outflows pressures the domestic currency in interbank trade.
The rupee weakened against the US dollar in interbank trade amid heightened West Asia tensions, a stronger dollar index, heavy foreign institutional investor outflows and weak domestic equity sentiment. Market participants said the local unit came under pressure from external geopolitical developments and broader risk aversion, while earlier gains were linked to likely Reserve Bank of India intervention to curb excessive volatility in the domestic currency.
June 11, 2026
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Maritime trade security and supply chain resilience gain focus as India stresses diversification, energy security, and wider cooperation.
Maritime trade security and supply chain resilience were highlighted as essential responses to global economic risks, with emphasis that maritime trade should remain neither impeded nor endangered amid tensions in the Gulf. India's concern with energy, food and fertiliser security and the need for further diversification of supply chains were also underlined.
June 11, 2026
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Make in India-led manufacturing expansion: Haleon plans a greenfield Madhya Pradesh facility to strengthen supply chains and oral health access.
Haleon announced plans to establish its first manufacturing facility in India as a greenfield site at Pithampur, Madhya Pradesh, with the project aligned to the Make in India vision and intended to strengthen the company's long-term presence in the country. The facility is described as a strategic manufacturing base for oral health and other everyday health products, designed to support supply chain resilience, domestic value addition, exports to wider Asia, employment generation, and future-ready automated production, with operational commencement expected by 2029-30.
June 11, 2026
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Free trade agreements and cooperative federalism drive India's growth strategy, with MSME competitiveness and women-led development in focus.
India's growth strategy is being advanced through free trade agreements, international market access, and a stronger export ecosystem, with emphasis on enabling MSMEs to align with global standards and improve competitiveness. The economic direction also relies on the demographic dividend through quality education, demand-driven skilling, and employment pathways for youth. Cooperative federalism, State collaboration, and women-led development are described as central to Viksit Bharat, with focus on education, skilling, safety, and empowerment of women.
June 11, 2026
Show AI Summary
Excise duty exemption on higher ethanol-petrol blends expands, paving the way for future ethanol fuel adoption.
Excise duty exemption has been extended to higher ethanol-petrol blends, with duty reduced to nil on petrol containing 22 per cent, 25 per cent, 27 per cent and 30 per cent ethanol. The extension broadens the earlier waiver for blends of up to 20 per cent ethanol and reflects the view that blending ethanol with petrol at fuel depots is a manufacturing activity that would otherwise attract excise duty. The measure is a preparatory regulatory step for any future introduction of higher ethanol-content fuels.
June 11, 2026
Show AI Summary
Control and assurance functions harmonisation through draft RBI governance amendments invites stakeholder comments across regulated entities.
Reserve Bank of India has issued draft Amendment Directions for public comments to harmonise and consolidate instructions on control and assurance functions across multiple categories of regulated entities, including banks, co-operative banks, non-banking financial companies, credit information companies and asset reconstruction companies. The draft directions comprise governance-related and miscellaneous amendments intended to align the applicable regulatory framework across these entities. Comments and feedback may be submitted through the Connect 2 Regulate portal or by email using the prescribed subject-line format for the relevant category of regulated entity.
June 11, 2026
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Standardised approach for counterparty credit risk updates seek clearer netting, margining, and disclosure treatment under revised directions.
The Reserve Bank has proposed draft Amendment Directions on Standardised Approach for Counterparty Credit Risk (SA-CCR) to update the framework for computing counterparty credit risk exposure. The draft revisits the earlier SA-CCR-based guidelines in light of later netting, margining, and Basel Committee developments, and seeks to clarify the treatment of CCR across banking and trading book exposures, multiple margin agreements, multiple netting sets, clearing-member transactions, option premium deferment, effective notional for options, and disclosure templates. Comments have been invited from regulated entities and other stakeholders within the consultation period.
June 11, 2026
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Money laundering probe under the Prevention of Money Laundering Act covers alleged payments without services and unexplained loan transactions.
Enforcement Directorate investigation under the Prevention of Money Laundering Act concerns alleged transactions involving Cochin Minerals and Rutile Ltd and Exalogic Solutions Private Limited, including payments without corresponding services and loans without timely repayment. The agency has alleged that these transactions generated proceeds of crime and proceeded on the basis of a prosecution complaint filed by the Serious Fraud Investigation Office. Veena T sought postponement of her scheduled ED questioning on health grounds and said documents would be submitted through counsel.
June 11, 2026
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Rupee weakness deepens as crude prices, foreign outflows and a firmer dollar pressure the local currency.
The rupee weakened in early trade against the US dollar amid higher global crude oil prices, continued hostilities between the US and Iran, heavy foreign institutional investor outflows, and a soft domestic equity market. The local currency was also weighed down by a marginally stronger dollar index and remained sensitive to risk sentiment and external macroeconomic cues. RBI-linked dollar selling had earlier supported the rupee, while intervention was likely aimed at curbing excessive volatility and preventing a sharper slide.
June 11, 2026
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Excise duty waiver on ethanol-blended petrol encourages a shift toward cleaner fuel variants across blended petrol categories.
Excise duty on ethanol-blended petrol has been waived for E22, E25, E27 and E30 variants, with the applicable duty set at nil for petrol containing 22 per cent, 25 per cent, 27 per cent and 30 per cent ethanol blend. The measure is intended to encourage consumers to shift towards ethanol-blended petrol and applies through a finance ministry notification.
June 11, 2026
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Trade and regulatory cooperation deepen as India and Tajikistan prioritise pharmaceuticals, agriculture, services and wider economic engagement.
India and Tajikistan reviewed bilateral trade, investment and regulatory cooperation, and agreed to strengthen coordination between competent authorities, trade bodies and business chambers to facilitate smoother trade and new business projects. Pharmaceuticals, agriculture, services and wider sectoral cooperation were identified as priority areas, including faster registration processes, closer regulatory dialogue and stronger business-to-business linkages. The meeting concluded with signing of the Protocol of the 12th Session and a reaffirmation of commitment to deepen industrial, trade and economic cooperation.

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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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