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    'Gross abuse of process of law': HC quashes Delhi Police, ED cases against NewsClick
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June 10, 2026
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Foreign direct investment allegations fail as quashing follows absence of criminal offence and unsupported money-laundering claims.
Quashing of FIR and money-laundering proceedings was ordered where the underlying investment was treated as an economic decision that did not disclose any criminal offence. The court held that there was no cap or restriction on receipt of foreign direct investment in digital media at the relevant time, and that the allegations of cheating, criminal breach of trust and siphoning of funds were unsupported. The Enforcement Directorate's case also failed because the alleged conspiracy did not show any illegal objective or unlawful means, and no incriminating material had emerged despite extensive investigation.
June 10, 2026
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Phytosanitary import rules shape Indian mango exports to Nepal as officials clarify no ban and continue permit issuance.
Imports of Indian mangoes into Nepal continue to be permitted subject to prescribed phytosanitary requirements, with import permits and release orders being issued on compliance. Nepal has clarified that no ban or suspension has been imposed, while introducing a Hot Water Treatment requirement for consignments. India has said it is facilitating exports in line with the new norms and is pursuing concerns over the revised measures through bilateral channels under the WTO Sanitary and Phytosanitary Agreement and the International Plant Protection Convention framework.
June 10, 2026
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Structural excess capacity allegations rejected as India cites low per capita consumption in textiles and steel.
India has rejected allegations of structural excess capacity in textiles and steel, saying low per capita consumption in both sectors shows no basis for the claim. In response to a United States Trade Representative probe under Section 301, India stated that the notice lacks cogent rationale and prima facie evidence to support the allegation that its major industries create trade surplus through surplus capacity. The trade remedies authority also said excess capacity is not recognised within WTO trade remedial laws.
June 10, 2026
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Indian mango exports face reputational strain as Nepal's import ban raises pesticide and quarantine concerns.
Nepal prohibited the import of Indian mangoes, citing excessive pesticide use and the absence of adequate quarantine facilities in border areas. Growers in Uttar Pradesh said the restriction could damage the international image and credibility of Indian mangoes, including the Dasheri variety, and add to pressure from rising input costs and low returns. The state minister said the ban would not materially affect farmers' earnings, but it has hurt the reputation attached to Indian mangoes.
June 10, 2026
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Rupee volatility management strengthened as lower crude prices and likely RBI intervention supported the domestic currency.
The rupee appreciated against the US dollar as lower Brent crude prices, a softer dollar index and likely intervention by the Reserve Bank of India helped curb excessive volatility and support the domestic currency. Market commentary linked the currency's pressure to geopolitical tensions, energy import dependence and a wider trade deficit when crude prices rise. The report also noted easing government bond yields and foreign inflows into government securities under the Fully Accessible Route.
June 10, 2026
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Tax reforms and digital governance are driving investor confidence, broader compliance, and India's growth toward a stronger economy.
Tax and economic policy reforms, including GST, faceless tax administration and Digital India initiatives, are presented as central measures in strengthening public trust, improving compliance and supporting investment-led growth. The government links these reforms with reduced inflation, a unified national market, banking sector clean-up and rising investor confidence, while describing India's transition from a vulnerable economy to the world's fastest-growing major economy and its progress towards a five-trillion-dollar economy and Viksit Bharat 2047.
June 10, 2026
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Money laundering attachment linked to bank fraud covers sea-facing property acquired from diverted funds.
Provisional attachment under the Prevention of Money Laundering Act was issued against a sea-facing immovable property in Murud, Maharashtra, in a bank loan fraud-linked money-laundering case involving S Kumars Nationwide Limited and former CMD Nitin Kasliwal. The Enforcement Directorate said the property was acquired from diverted funds and was derived from the proceeds of crime arising out of the alleged bank fraud. It also alleged the use of interconnected entities and group companies to divert and layer funds.
June 10, 2026
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Credit guarantee support under ECLGS 5.0 expands liquidity access for MSMEs and other borrowers through broad lender participation.
The Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 provides credit guarantee support to extend additional liquidity to existing borrowers facing pressures arising from the West Asia crisis. It offers 100% guarantee coverage for the MSME sector and 90% coverage for the non-MSME sector, encouraging lending institutions to extend credit under the government-backed framework. The reported coverage has crossed 1 lakh guarantees, with the MSME sector and Public Sector Banks accounting for the bulk of the issuance.
June 10, 2026
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Competition approval for minority share acquisition in a life insurer through a preferential issue by a Mauritius investor.
Competition Commission of India approved the acquisition of a minority shareholding in Shriram Life Insurance Company Limited by Sanlam Emerging Markets (Mauritius) Ltd through a preferential issue. The transaction involves 2.80% of the expanded equity capital, and the target is a registered life insurance company engaged in life insurance and unit-linked insurance business within the ambit of the Insurance Act, 1938.
June 10, 2026
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Competition approval for share acquisition in PUMA SE by Ancat Holding GmbH through a secondary purchase.
Competition approval was granted for the acquisition of certain shareholding in PUMA SE by Ancat Holding GmbH, an indirect wholly owned subsidiary of ANTA. The proposed combination involved Ancat's secondary purchase of 29.06% of the issued and outstanding share capital of PUMA SE. Ancat was described as an acquisition vehicle with no business activities, while ANTA and PUMA were engaged in sports products and sportswear businesses.
June 10, 2026
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Cross-border business recognition platform launches to spotlight Indian exporters, e-commerce sellers, and global growth leaders.
Payoneer India Cross-Border Excellence Awards 2026 have been launched to recognise Indian businesses and entrepreneurs driving cross-border commerce and export growth. The awards are structured across sixteen categories covering service exports, e-commerce, D2C brands, regional exporters, women entrepreneurs, and related ecosystem roles, with nominations open. Shortlisted nominees will be assessed by an independent jury using weighted criteria on growth, market reach, innovation, employment impact, and digital readiness.
June 10, 2026
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Foreign direct investment and startup reforms drive India's manufacturing growth, regulatory simplification and broader innovation ecosystem.
India's investment and industrial policy framework has been strengthened through sustained foreign direct investment, manufacturing incentives and regulatory simplification. Flagship initiatives such as Make in India and the Production Linked Incentive scheme have been credited with increasing domestic manufacturing, export output and job creation across strategic sectors, while broader structural reforms are presented as reinforcing investor confidence and industrial growth. Ease of doing business measures include the removal of more than 47,000 compliance requirements, rationalisation of legal provisions through the Jan Vishwas framework, and the use of the National Single Window System for investment approvals.
June 10, 2026
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Trade remedy measures and fair trade: DGTR's evidence-based investigations and digital reforms strengthen market access and industry protection.
Trade remedy measures are described as instruments of fair trade used to address dumped imports, subsidised imports and sudden import surges that injure domestic industry, while preserving legitimate imports at fair prices. The Directorate General of Trade Remedies is stated to function as India's integrated trade remedy authority, conducting anti-dumping, anti-subsidy and safeguard investigations and recommending measures in accordance with domestic law and World Trade Organization obligations. The investigation framework is presented as transparent and evidence-based, involving application scrutiny, initiation, questionnaire-based inquiry, verification, oral hearings, disclosure of essential facts and final findings, with participation opportunities for domestic producers, exporters, importers, user industries and other stakeholders.
June 10, 2026
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Credit guarantee scheme extension expands microfinance lending support and raises loan limits for large NBFC-MFIs and MFIs.
Extension of the Credit Guarantee Scheme for Microfinance Institutions-2.0 continues credit guarantee support through the National Credit Guarantee Trustee Company Limited for banks and financial institutions lending to NBFC-MFIs and MFIs for onward lending to small borrowers. The validity of the scheme has been extended up to 31 August 2026 or until guarantees aggregating to Rs.20,000 crore are issued, whichever occurs earlier, and the maximum loan amount for large-sized NBFC-MFIs/MFIs has been increased from Rs.300 crore to Rs.1000 crore, subject to the overall ceiling of 20% of assets under management.
June 10, 2026
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Artificial intelligence and tariff volatility are reshaping global trade, with resilience, digitalisation and critical minerals now driving competitiveness.
Global trade is being reshaped by artificial intelligence, tariff volatility, supply chain redesign and competition over critical minerals and clean-energy infrastructure. The report says trade remains resilient but is moving into a more fragmented environment in which AI-related goods are driving a disproportionate share of trade growth, while a growing share of merchandise imports is subject to tariffs or similar restrictions. Business expectations are largely for slow growth, continued disruption and geopolitical uncertainty, with only a small minority expecting a best-case scenario. The report identifies four structural forces driving this shift: AI moving from experimentation to operational deployment; the breakdown of a stable tariff framework; supply chains increasingly organised for resilience rather than pure efficiency; and the energy transition becoming a contest for industrial and geopolitical advantage.
June 10, 2026
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Tax relief and GST reforms are described as strengthening taxpayer trust, simplifying compliance, and supporting economic growth.
Income tax burden reduction over the past 12 years is presented as part of a wider reform programme built on tax relief, quicker refunds, GST, faceless tax administration, Digital India, and banking reforms. The measures are described as having increased taxpayer confidence, expanded the taxpayer base, improved cash availability, simplified compliance, and supported higher domestic consumption and infrastructure investment.
June 10, 2026
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Reserve Bank of India intervention and foreign inflows support the rupee and ease government bond yields.
Foreign exchange market conditions remained under pressure as the rupee moved against the US dollar, with traders attributing the currency's partial recovery to likely Reserve Bank of India intervention aimed at curbing volatility and preventing a further slide in the domestic unit. Government securities markets also reflected stronger foreign participation, with bond yields easing as foreign portfolio inflows increased and investors bought Government of India dated securities under the Fully Accessible Route, which permits investment without ceilings.
June 10, 2026
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Export-led manufacturing growth and standards-based compliance drive Jainson Cables India's global expansion.
Jainson Cables India is described as a long-established cable manufacturer that has entered a new phase of growth through export-led expansion, diversification of its product range, and strengthened manufacturing capability. Its presence in more than 80 countries, Three Star Export House status, and Export Excellence Awards are presented as indicators of sustained export performance and international acceptance. The company's growth is supported by a structured certification and compliance framework, and its manufacturing model is aligned with national and international technical benchmarks.
June 10, 2026
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Home loan affordability hinges on credit score, down payment, tenure, and fees, not interest rate alone.
Home loan affordability in 2026 depends on the interest rate as well as income, credit score, existing obligations, down payment, property value, and tenure choice. Lower rates reduce EMI and total interest, while higher rates may require longer repayment periods to keep monthly outgo manageable. Borrowers are advised to compare processing fees, foreclosure terms, and top-up or balance transfer options, and to check eligibility criteria such as residency, age, credit score, occupation, and required documents before applying.
June 10, 2026
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Black Money Act challenge secures interim protection against prosecution and penalty in foreign asset non-disclosure dispute.
Interim protection from coercive action, including prosecution and penalty, was granted in a writ petition challenging the constitutional validity of provisions of the Black Money Act. The petitioner disputed the Act's retrospective application to earlier assessment years and the notice alleging wilful non-disclosure of foreign bank accounts, foreign assets, and beneficial interests in overseas entities, while the appeal process was allowed to continue.

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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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