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    Targeting 16-17 pc growth in goods exports, 11 pc in services in FY27: Goyal
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July 3, 2026
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Export growth targets set for merchandise and services as India aims for a one trillion dollar total export milestone.
India has set export growth targets for the current fiscal year, aiming for 16-17 per cent growth in merchandise exports to USD 530 billion and 11 per cent growth in services exports to USD 470 billion in 2026-27. The overall target for total exports has been fixed at USD 1 trillion for the fiscal year.
July 3, 2026
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Money laundering investigation allows auction of seized aircraft for investor restitution under anti-money laundering law.
Enforcement Directorate auctioned a seized business aircraft in a money-laundering investigation arising from alleged investor fraud through a Ponzi scheme. The aircraft was sold after the agency sought permission to dispose of the property under the Prevention of Money Laundering framework and the adjudicating authority allowed the auction. The sale proceeds are stated to be available for restitution to genuine investors in accordance with the Prevention of Money Laundering Act, subject to leave of the Special Court.
July 3, 2026
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Foreign exchange reserves decline as gold reserves fall sharply and central bank data shows weaker currency assets.
India's foreign exchange reserves declined during the reporting week ended June 26, falling by USD 5.654 billion to USD 666.933 billion. The decrease was driven mainly by a sharp fall in gold reserves, which dropped by USD 5.394 billion, while foreign currency assets also edged down. Smaller reductions were recorded in special drawing rights and the reserve position with the IMF. The article notes that earlier reserve gains were followed by weeks of decline as the rupee came under pressure and market intervention involved dollar sales.
July 3, 2026
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Startup mentoring and compliance support framework advances ecosystem growth through funding, legal guidance, and market readiness support.
A structured post-funding mentoring and handholding framework has been announced for the selected startups, covering business, regulatory, financial, legal, investment and technology support. The framework includes specialised mentoring on regulatory and legal compliance, taxation, fund utilisation, fundraising strategy, valuation, term sheet negotiations, data privacy, cybersecurity and intellectual property protection, together with Demo Days and the Sounding Board Programme to improve market readiness, strategic positioning and partnership opportunities.
July 3, 2026
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Debt and default threshold shape insolvency admission under the amended framework, alongside new approval and resolution requirements.
The Insolvency and Bankruptcy (Amendment) Act 2026 is described as requiring debt and default to be established before the National Company Law Tribunal admits a case. The amended framework also alters security interest creation, restructures insolvency administration, requires CCI approval before submission of a resolution plan, and requires the committee of creditors to record reasons while approving a plan. Certain features, including cross-border insolvency and CIIRP, are stated to be not yet in force.
July 3, 2026
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Rupee appreciation reflects weaker dollar index, even as importer demand and foreign outflows keep pressure on the currency.
The rupee appreciated against the US dollar in interbank foreign exchange trade, supported by a weaker dollar index and gains in domestic equities, but remained under pressure from dollar demand by importers and corporate hedgers. It moved within a narrow range before closing stronger at 95.21 against the US dollar, while market commentary noted Reserve Bank of India dollar buying to rebuild foreign exchange reserves and continued foreign investor selling in Indian equities.
July 3, 2026
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Desalination project for Mumbai's water supply advances with limited tariff increase and key approvals secured.
Mumbai's first desalination project has moved ahead with a work order issued and key approvals secured to strengthen the city's drinking water supply. The project, undertaken for the Brihanmumbai Municipal Corporation by an expert firm, is intended to meet rising demand through an alternative source as existing dam-based supplies become insufficient. The government says the tariff impact will be limited, while remaining statutory clearances are still being processed.
July 3, 2026
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Totapuri mango price crash prompts review of value chain, farmer incomes, processing capacity and export bottlenecks.
A high-level committee under the Indian Council of Agricultural Research has been constituted to study the sharp fall in Totapuri mango prices in Andhra Pradesh and the distress caused to growers. The panel will review the Totapuri mango value chain across cultivation, processing, marketing, domestic trade and exports, examine cultivation costs, farmer incomes, processing capacity utilisation, demand-supply trends, and the causes of the price decline in domestic and export markets, and identify bottlenecks and opportunities across the sector.
July 3, 2026
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CAG audit of private discoms raises legality questions over regulatory assets and tariff recovery framework.
A dispute concerns the legal permissibility of the Delhi Electricity Regulatory Commission's initiation of a CAG audit of three private distribution companies in relation to accumulated regulatory assets recoverable through future tariffs. The matter arises from competing views on whether the audit could be entrusted to the Comptroller and Auditor General or whether the statutory framework required appointment of an independent chartered accountant instead. The proceedings also involve the broader issue of accumulation and liquidation of regulatory assets, with the status of the audit and related steps remaining under judicial consideration.
July 3, 2026
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Rupee pressure persists despite weaker dollar and crude, as import demand and reserve rebuilding limit gains.
The rupee appreciated in early interbank trade as the dollar index eased from recent highs and Brent crude traded lower, but the currency remained under pressure from sustained dollar demand by importers and corporate hedgers. Foreign exchange commentary also indicated that the Reserve Bank of India was focused on rebuilding forex reserves, leaving less room for the rupee to strengthen freely even when external conditions were supportive. Foreign investors continued net selling in Indian equities amid global risk aversion and higher US bond yields.
July 2, 2026
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Virtual digital assets face regulatory resistance as the central bank warns of illegal use, tracking challenges, and economy-wide risks.
Virtual digital assets, including cryptocurrency, were described as posing risks to an emerging economy because of potential misuse for illegal activity, difficulty in tracking offshore entities, and broader regulatory challenges. The Reserve Bank of India stated that such assets should not be legalised in India at this stage. The Institute of Chartered Accountants of India supported a comprehensive VDA law and proposed guidance on recognition, measurement, presentation, disclosure, financial reporting, and compliance frameworks.
July 2, 2026
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Indian-American diaspora contributions are traced through a curated history spanning migration, science, politics, business, and culture.
Indian-American diaspora history and contributions are traced through a curated project covering 250 defining moments across 15 categories of American life. The selection is described as research-based and externally reviewed, but not comprehensive. It highlights milestones in migration, citizenship, medicine, politics, corporate leadership, entrepreneurship, yoga, science, and cuisine, illustrating the community's growing influence in the American story.
July 2, 2026
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Digital financial inclusion in Meghalaya expands through Jan Dhan accounts, digital transactions, and a stronger focus on cyber resilience.
Digital financial inclusion in Meghalaya expanded through the JAM framework, Direct Benefit Transfer and Digital Public Infrastructure, with 32.76 crore digital transactions during 2025-26 and nearly 10 lakh Jan Dhan accounts. Officials said about 98 per cent of account holders had adopted at least one digital mode of transaction, and the next phase should focus on financial literacy, cyber resilience and meaningful use of digital financial services, particularly in rural areas.
July 2, 2026
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Money laundering attachment of assets linked to alleged fund diversion, off-books sales and bogus capital gains entries
Attachment of assets under the Prevention of Money Laundering Act in a money laundering case linked to alleged diversion of funds from Bhushan Steel Ltd. The Enforcement Directorate attached land, part of a residential property, equity shares and bank balances standing in the name of Ritu Singal, wife of former promoter Neeraj Singal, through a provisional order valuing the properties at more than Rs 58 crore. The action arose from allegations that funds were diverted under the guise of genuine transactions and that cash generated from the off-the-books sale of zinc ingots was routed into accommodation entries and unaccounted bank deposits.
July 2, 2026
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Electricity tariffs remain unchanged in Uttar Pradesh as subsidy support grows and EV charging gets lower solar-hour rates.
Electricity tariffs in Uttar Pradesh are to remain unchanged across consumer categories for the seventh consecutive year for 2026-27, with a higher tariff subsidy supporting lifeline consumers, rural and urban poor families, private tube well operators and rural metered consumers. Although a regulatory gap was identified, no tariff hike was recommended in view of regulatory surplus and improved financial management. The tariff order also retains the green energy additional tariff and introduces provisions for battery swapping stations, Battery as a Service providers and a lower tariff for EV charging stations during solar hours.
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.

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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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