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    Navi Mumbai Airport to launch international operations on July 15
    ED questions Vijayan’s daughter Veena for over nine hours in CMRL money laundering case
    India-UK free trade pact to come into force on July 15
    Rs 138 cr duty evaded on walnut imports by falsifying consignment origins; 5 held
    Advisory on e-Invoice API and e-Way Bill by IRN API changes for mandatory capture of Ship-to GSTIN and Voluntary Closure of e-Way Bill
    Appointment of Chairperson and Members in the National Statistical Commission
    India-EU free trade deal to be inked by year-end: Ursula von der Leyen
    Digital systems secure, says Axis Bank amid AI platform-driven vulnerability claims on cybersecurity
    HIGHLIGHTS
    Gold price tumbles Rs 4,800 to Rs 1.54 lakh/10g, silver drops Rs 5,300
    India's exports hit record USD 863 billion in FY 26 amid West Asia turmoil and US tariffs: Official
    Rs 138 cr fraud of customs duty evasion on walnut import busted in Navi Mumbai; 5 held so far
    TN's excise revenue lags behind K'taka, Maharashtra: Govt
    Ex-Kerala CM's daughter Veena appears for questioning before ED in PMLA case
    CCI approves subscription of certain equity shareholding by Kedaara Pearl Holding and Kedaara Capital Fund IV AIF in Axis Finance Limited
    CCI approves proposed combination involving acquisition of PGIM India Asset Management and PGIM India Trustees by TVS Emerald Ltd. and TVS Venu Manage...
    CCI approves the proposed combination involving inter-alia subscription to certain CCPS and acquisition of certain equity share capital of Romsons Gro...
    'Minimal space' for new programmes, says CM Vijay-led TN govt
    PRESS RELEASE ON NEW SERIES OF WHOLESALE PRICE INDEX, AND PRODUCER PRICE INDICES WITH BASE YEAR 2022-23
    ED searches at 17 locations in corporate insolvency process case
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    June 17, 2026
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    International passenger and freighter operations set to begin at Navi Mumbai airport as customs readiness nears completion.
    Navi Mumbai International Airport is expected to commence international passenger flights and international freighter operations from July 15, with Air India Express and IndiGo reported as the initial operators. Customs readiness for international operations was nearing completion, including relevant notifications and trial procedures for courier and cargo systems, with a further trade notice anticipated. The operator also said cargo would follow a hub-and-spoke model and that planning had begun for the next phase of terminal expansion.
    June 17, 2026
    Show AI Summary
    Money laundering probe over alleged sham payments and loans draws ED questioning in transactions linked to proceeds of crime.
    Enforcement Directorate questioning in a money laundering probe concerned alleged transactions between a now-defunct IT firm and a mining company, including payments said to have been made without corresponding services and loans allegedly extended despite delayed repayment. The agency alleged that these dealings generated proceeds of crime and summoned relevant documents relating to the firm's transactions. The investigation was registered under the Prevention of Money Laundering Act on the basis of a prosecution complaint filed by the Serious Fraud Investigation Office.
    June 17, 2026
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    India-UK free trade pact and social security convention set to take effect together from 15 July 2026.
    The India-UK Comprehensive Economic and Trade Agreement (CETA) is scheduled to enter into force on 15 July 2026, marking the commencement of the bilateral free trade pact. The Agreement on Social Security, also described as the Double Contribution Convention (DCC), will take effect on the same date.
    June 17, 2026
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    Country-of-origin fraud in walnut imports triggered customs duty evasion, arrests, and conditional release of seized consignments.
    Fraudulent walnut imports were allegedly routed through Nhava Sheva Port by falsely declaring non-Afghanistan consignments as Afghanistan-origin to claim preferential tariff benefits under SAFTA, using forged transit bills of lading and proxy importers. Five persons were arrested and searches yielded digital and documentary evidence. In a related writ petition, conditional release of seized consignments was permitted only against deposit of the full differential duty or a bank guarantee of equivalent amount.
    June 17, 2026
    Show AI Summary
    Ship-to GSTIN compliance and voluntary e-way bill closure reshape IRN and e-invoice API operations before production rollout.
    Mandatory capture of Ship-to GSTIN has been introduced across specified e-Invoice API, e-Way Bill by IRN API and EWB Closure API flows, with URP permitted where GSTIN is not available. The revised framework requires a valid and distinct Ship-to GSTIN in Bill-to/Ship-to transactions, together with state code and PIN code validations, while export and B2B/SEZ scenarios are subject to specific treatment for ship details. A voluntary closure facility for e-Way Bills has also been introduced, with portal and API-based closure available using the EWB number, closure date and remarks.
    June 17, 2026
    Show AI Summary
    Statistical governance and coordination strengthened through appointments to the National Statistical Commission and its standard-setting role.
    Appointment of the Chairperson and Members of the National Statistical Commission was approved, with Dr. Saibal Chattopadhyay as Chairperson and three Members appointed. The Commission is a nodal body for core statistical activities, responsible for statistical priorities, standards and coordination. Its functions include standardising concepts, definitions, classifications and methodologies, improving public trust in official statistics, laying down quality standards, coordinating with governments and ministries, undertaking statistical audit, and monitoring the statistical system for performance improvement.
    June 17, 2026
    Show AI Summary
    India-EU free trade agreement advances with investment, defence cooperation and connectivity talks on the agenda.
    India and the European Union are to advance their trade and economic engagement by finalising a free trade agreement by the end of the year and accelerating work on an investment agreement. The two sides also identified wider areas of cooperation, including stepped-up security and defence cooperation and collaboration on connectivity through the India-Middle East-Europe Corridor.
    June 17, 2026
    Show AI Summary
    Cybersecurity in banking hinges on distinguishing system breaches from customer deception, while faster patch deployment becomes critical against AI-driven vulnerability discovery.
    Cybersecurity in banking requires a distinction between internal system breaches and cyber fraud caused by customer deception through phishing and social engineering. A private sector bank said its systems remain secure and that fraud incidents have not stemmed from weaknesses in its cybersecurity architecture. It also identified the main AI-related risk as faster discovery of software vulnerabilities, making quicker patch deployment and remediation essential.
    June 17, 2026
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    Temporary platform restriction and NEET re-test challenge raise access, compliance, and procedural concerns.
    Temporary restriction on access to a messaging platform has prompted a challenge before the Delhi High Court, with the restriction reported as being linked to the period before the NEET-UG re-examination. The development raises a compliance and access issue concerning the basis and scope of the government order affecting the platform. Judicial and parliamentary proceedings are also reported on the NEET-UG re-test and on proposed legislation to decriminalise politics, including a Supreme Court hearing on the re-test plea and committee consideration of detention-linked removal from office for serious crimes.
    June 17, 2026
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    Precious metals prices fall as a strong rupee, weak global trends and caution ahead of US policy decisions weigh on demand.
    Gold and silver prices fell sharply in domestic bullion markets amid a strong rupee, weak global trends and subdued investor demand. Traders stayed away from precious metals as equity markets offered higher returns, while analysts linked caution to key US economic events, including the Federal Reserve's monetary policy decision, and to developments ahead of the scheduled US-Iran meeting.
    June 17, 2026
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    Special Economic Zones drive India's export growth, with Gujarat emerging as a major hub for investment and semiconductor expansion.
    India's export sector recorded an all-time high of USD 863 billion in FY 2025-26 despite disruption from the West Asia conflict and US tariffs, driven by engineering goods, petroleum products, electronics, pharmaceuticals, gems and jewellery, and chemicals. Gujarat emerged as a major contributor, and the discussion highlighted the role of Special Economic Zones in investment, employment, innovation, and export expansion, including newly notified semiconductor SEZ projects and a policy focus on promoting additional SEZs.
    June 17, 2026
    Show AI Summary
    Customs duty evasion through false origin claims on walnut imports exposed in a SAFTA-linked routing racket.
    Customs authorities uncovered a walnut-import duty evasion racket at Nhava Sheva in which consignments were routed through Jebel Ali and falsely shown as originating from Afghanistan to claim preferential tariff benefits under SAFTA. The scheme allegedly used forged transit bills of lading and a fictitious transit trail to support false country-of-origin claims, causing substantial revenue leakage. Five persons have been arrested, searches yielded digital and documentary evidence, and further investigation continues into beneficiaries, facilitators, financial linkages and connected consignments.
    June 17, 2026
    Show AI Summary
    Excise duty revenue gap widens as liquor tax remains a major share of own tax revenue.
    State excise duty collections are reported to lag behind peer states, with the state recording the lowest absolute collection among the compared jurisdictions. The data shows a smaller excise base and slower growth than the peer states, making the revenue gap a significant part of the overall State Own Tax Revenue position. Excise duties and VAT on liquor together still form a substantial share of own tax revenue, making liquor-related taxation consequential for the state's fiscal position.
    June 17, 2026
    Show AI Summary
    Money laundering allegations drive questioning over disputed corporate transactions and alleged proceeds of crime under PMLA.
    Money laundering allegations concern transactions between a now-defunct IT firm and a mining company, with the Enforcement Directorate questioning Veena T and seeking documents on the dealings. The inquiry relates to alleged payments by Cochin Minerals and Rutile Ltd. without services in return, and loans extended to Exalogic by another company connected with the same management. The agency has alleged generation of proceeds of crime and registered the matter under the Prevention of Money Laundering Act on the basis of a prosecution complaint filed by the Serious Fraud Investigation Office.
    June 17, 2026
    Show AI Summary
    Competition Commission approval for equity subscription in a financial services company through a proposed combination
    Competition Commission approval was granted for a proposed combination involving the subscription of certain equity shareholding by Kedaara Pearl Holding and Kedaara Capital Fund IV AIF in Axis Finance Limited. The transaction concerns a minority equity subscription in a financial services enterprise, with the Commission's detailed order stated to follow.
    June 17, 2026
    Show AI Summary
    Proposed combination approval for acquisition of asset management and trustees businesses by TVS entities.
    Approval of a proposed combination involving acquisition of 100% of the issued, subscribed and paid-up share capital of PGIM India Asset Management Private Limited and PGIM India Trustees Private Limited by TVS Emerald Limited and TVS Venu Management and Consultancy Services Private Limited. TVS Emerald Limited is engaged in real estate development in India, while TVS Venu Management and Consultancy Services Private Limited presently has no business activities. The target entities are engaged in wealth management, including mutual funds, portfolio management services, alternative investment funds and investment advisory services.
    June 17, 2026
    Show AI Summary
    Competition clearance for acquisition and CCPS subscription in Romsons Group under a proposed internal restructuring.
    Competition Commission of India clearance was granted for a proposed combination involving internal restructuring of the Romsons Group and the subscription to compulsorily convertible preference shares together with acquisition of equity share capital in Romsons Group Private Limited by Jongsong Investments Pte. Ltd. The acquirer is an investment holding company and an indirect wholly owned subsidiary of Temasek Holdings Private Limited. The target is engaged in the manufacture and sale of medical devices and personal care and hygiene products.
    June 16, 2026
    Show AI Summary
    Fiscal space for new programmes remains minimal as Tamil Nadu's White Paper flags higher deficits, borrowing constraints, and understated liabilities.
    Tamil Nadu's White Paper on state finances says there is only minimal fiscal space for new programmes because projected deficits remain high, borrowing is constrained, and committed expenditure is understated. It notes over-projected tax revenue, omitted recurring liabilities, and limited borrowing headroom, leading to a much larger expected revenue deficit and fiscal deficit than budgeted. The paper also highlights worsening debt, interest burden, revenue weakness, and the need for sustained revenue mobilisation, expenditure control, debt management, and clean governance.
    June 16, 2026
    Show AI Summary
    Wholesale Price Index revision with base year 2022-23 expands coverage, updates methodology, and introduces new producer price indices.
    Wholesale Price Index and Producer Price Indices are being revised with base year 2022-23, replacing the existing WPI series with base year 2011-12. The revised framework introduces a larger commodity basket, updated grouping of energy items, revised weight derivation using Gross Value of Output for WPI, short-term formulation for elementary indices, and targeted mean imputation for missing prices. Output PPI, trial Input PPI, and Service PPIs are also introduced, with monthly, experimental, and quarterly release schedules, respectively, and back-series data made available on the official portal.
    June 16, 2026
    Show AI Summary
    Corporate insolvency resolution process scrutiny deepens amid alleged circular transactions, fraudulent asset transfers, and voting-rights violations.
    Enforcement Directorate searches were conducted at 17 locations in Maharashtra and Delhi in a money laundering investigation linked to alleged irregularities in a corporate insolvency resolution process. The probe concerns an allegedly fraudulent loan and other loans, and is aimed at gathering material on circular transactions, fraudulent takeover of stressed assets, under-valuation of auctioned assets, inflated and fraudulent claims, violation of creditor voting rights, and lack of transparency in the insolvency resolution process.

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      Customs, DGFT & SEZ

      Union Minister of Commerce and Industry Shri Piyush Goyal to Visit United Kingdom from 25–27 June Ahead of India-UK CETA and DCC Implementation

      June 24, 2026

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      Shri Goyal will hold a high-level bilateral meeting with Rt. Hon. Peter Kyle, Secretary of State for Business and Trade, Government of the United Kingdom.

      Shri Piyush Goyal to Address India Global Forum, Lead G2B Engagements During UK Visit

      Shri Piyush Goyal to Lead Asia House Roundtable with Global Investors and Industry Leaders in London

      Union Minister of Commerce and Industry, Government of India, Shri Piyush Goyal, will undertake an official visit to London, United Kingdom, from 25 to 27 June 2026. The visit comes ahead of the entry into force of the landmark India-UK Comprehensive Economic and Trade Agreement (CETA) and the companion Double Contribution Convention (DCC) on 15 July 2026.

      During the visit, Shri Goyal will hold a high-level bilateral meeting with the Rt. Hon. Peter Kyle, Secretary of State for Business and Trade, Government of the United Kingdom. The engagement marks an important step towards the operationalisation of the agreements and the strengthening of the economic partnership between the two countries.

      The bilateral discussions will focus on aligning regulatory roadmaps, streamlining cross-border customs coordination and finalising administrative mechanisms to facilitate the smooth implementation of CETA and the DCC. The Ministers will review preparedness for the implementation of CETA's tariff liberalisation commitments, which will provide enhanced market access opportunities for Indian exports in the United Kingdom. Discussions will also cover the operational roadmap for the Double Contribution Convention, which is expected to establish a streamlined mechanism to address dual social security contribution requirements for eligible temporary workers, thereby supporting greater mobility of professionals and businesses.

      The two sides will further discuss the operationalisation of mutual market access commitments across key services sectors and review measures aimed at strengthening bilateral trade and investment ties. The engagement reflects India's continued efforts under the Viksit Bharat vision to expand global economic opportunities while safeguarding domestic economic interests and promoting a transparent, rules-based framework for bilateral commerce.

      As part of the visit, Shri Goyal will participate in a series of Government-to-Business (G2B) engagements with industry leaders, investors and corporate representatives to further strengthen commercial partnerships between India and the United Kingdom.

      The Minister will address the opening plenary session of the India Global Forum (IGF), where he will speak on the theme, "Capital, Innovation and the UK-India Moment." The session will focus on emerging opportunities for global businesses in the context of the forthcoming implementation of the India-UK CETA.

      Shri Goyal will also hold standalone interactions with senior executives of leading global companies, including HSBC (Global Trade Solutions) and Rolls-Royce, to discuss strategic investments, industrial collaboration and the expansion of manufacturing partnerships in India.

      The Minister will participate in a business plenary session and interactive luncheon hosted by the UK-India Business Council (UKIBC). The engagement will bring together C-suite executives and representatives from leading multinational companies, including Tata, TCS, HSBC, Prudential, De Beers and Baker McKenzie, to discuss opportunities for trade, investment and business collaboration under the India-UK economic partnership.

      To deepen engagement with institutional investors and global industry leaders, Shri Goyal will lead an exclusive roundtable discussion hosted by Asia House. Senior executives from leading international financial and industrial institutions, including J.P. Morgan, Standard Chartered, Lloyds, Morgan Stanley and Arup, will participate in discussions on India's industrial competitiveness, investment landscape and integration with global supply chains.

      The trade and investment programme will conclude with a dedicated interaction with the visiting Indian industry delegation, alongside engagements with representatives of the British-Indian business community and global education groups such as GEDU.

      The visit underscores India's commitment to engaging with global businesses and investors and is expected to contribute to the shared objective of expanding India-UK economic cooperation and advancing the target of achieving USD 120 billion in bilateral trade by 2030.

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