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    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman will embark on official visit to Canada and USA from 25th August to 2nd Septemb...
    UPI Completes 10 Years of Digital Payments Revolution- Globally Recognised as World’s Largest Real‑Time Payment System
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August 24, 2026
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Bilateral economic and financial cooperation will advance through investment dialogues, business engagement, financial-sector partnerships, and global economic discussions.
Official visits to Canada and the United States are scheduled to strengthen bilateral economic and financial partnerships, deepen investment linkages, and advance cooperation on global economic priorities. Engagements include an Economic and Financial Dialogue, investment and business roundtables, corporate meetings, and discussions on financial-sector cooperation, technology, innovation, critical minerals, resilient supply chains, and a Comprehensive Economic Partnership Agreement. Participation in the G20 Finance Ministers and Central Bank Governors Meeting will address global economic growth, stability, and international financial cooperation.
August 24, 2026
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Interoperable real-time payments enable inclusive retail transactions, bank participation, and cross-border digital payment expansion through UPI.
Unified Payments Interface (UPI) operates as an interoperable, real-time digital payments platform for peer-to-peer and person-to-merchant transactions. Its network includes varied banking institutions acting as remitter and beneficiary payment service providers, with performance monitoring across participants. Person-to-merchant payments drive transaction volume through routine small-ticket retail use, while person-to-person payments represent a larger share of transaction value. UPI also supports cross-border digital payments, with future growth linked to technological advancement, broader adoption, policy support, and financial inclusion.
August 24, 2026
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Service Producer Price Indices track quarterly price movements across financial, transport, telecom and insurance services using sub-service weights.
Service Producer Price Indices based on 2022-23 set out provisional first-quarter estimates for FY 2026-27 and final fourth-quarter estimates for FY 2025-26 across financial, insurance, telecom, railway and air-passenger services. Latest quarterly data show negative year-on-year inflation for securities transaction and banking services, while banking service contribution, pension-fund management, insurance, telecom and railway services record positive inflation. Aggregate weights are not assigned because the covered services do not represent the entire service sector; sub-service weights are used to derive service-level PPIs.
August 24, 2026
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Food safety cooperation supports imported-food quality information exchange and technical collaboration within broader bilateral economic and trade engagement.
India-Morocco economic cooperation is being advanced through discussions on trade diversification, market access, investment, industrial cooperation, customs, agriculture, food safety, energy, digital transformation and logistics. A proposed food safety Memorandum of Understanding would support exchanges on imported-food safety and quality, testing laboratories, analytical methods, import procedures, quality control, sampling, testing, packaging and labelling. Proposed cultural cooperation would promote professional exchanges, heritage conservation and institutional linkages.
August 24, 2026
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Foreign-exchange market conditions pressured the rupee as dollar strength, crude concerns and geopolitical uncertainty shaped narrow USD/INR trading.
Foreign-exchange market conditions led the rupee to close marginally lower against the US dollar after reversing initial gains. The USD/INR pair traded within a narrow range amid a stronger dollar index, weak domestic equity markets, importer demand, crude-oil concerns and geopolitical uncertainty. Market commentary indicated a slight negative bias for the rupee, although possible US-dollar weakness could provide support at lower levels. India's foreign-exchange reserves increased during the referenced reporting week.
August 24, 2026
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Branch expansion for wealth and cross-border banking services targets emerging commercial centres and affluent customer segments across India.
HSBC India's branch expansion is directed at extending wealth, international banking, and corporate banking services to affluent, high-net-worth, ultra-high-net-worth, and non-resident Indian customers in emerging commercial centres. The Nashik opening forms part of a broader branch-expansion programme undertaken after Reserve Bank of India approval to establish additional branches in key cities. The programme is intended to expand delivery of banking and financial services, including support for cross-border wealth management, overseas investment by Indian companies, and foreign investment into India.
August 24, 2026
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Bilateral trade and investment cooperation advances through business engagement in high-technology manufacturing, clean energy, innovation and industrial collaboration.
India's commerce and industry engagement with Japan is structured around a business delegation visit to deepen bilateral trade, investment, technology and industrial collaboration. Sector-focused discussions cover semiconductors, artificial intelligence, start-ups, automotive manufacturing, steel, electronics, industrial and consumer markets. Business roadshows and investor interactions are directed at presenting opportunities in India's manufacturing, clean-energy and consumer sectors, while advancing cooperation in high-technology manufacturing and next-generation industries.
August 24, 2026
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Inter-state heroin trafficking enforcement uncovered concealed narcotics in transport vehicles, triggering arrests, confiscation, and continuing supply-chain investigations.
Operation Black Hawk targeted an alleged inter-state heroin trafficking network moving crude heroin from the North-East region towards Uttar Pradesh. Intelligence-led vehicle tracking and highway interceptions resulted in the seizure of over 18.6 kg of crude heroin and the arrest of three suspected network members under the Narcotic Drugs and Psychotropic Substances Act, 1985. The narcotics were detected in specially fabricated concealed compartments within a passenger vehicle fuel tank and a heavy commercial vehicle body frame. Both vehicles and the contraband were confiscated, while financial and logistical investigations continue into suppliers and distribution channels.
August 24, 2026
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Five-day banking and uniform performance incentives drive proposed bank union action over unresolved pension and employment demands.
Banking labour relations are affected by proposed nationwide industrial action over five-day banking, performance-linked incentives, and pension-related demands. Five-day banking remains pending despite a bipartite arrangement for extended weekday hours. Unions dispute an incentive scheme that differentiates awards by seniority and individual performance, contending that it departs from bank-level performance linkage and uniformity across cadres. They also allege that implementation during pending conciliation breaches a status quo obligation, while pension revision, uniform dearness allowance, and a pension-scheme switch option remain unresolved.
August 24, 2026
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Free trade agreement strategy expands preferential market access and supports India's integration into global value chains and investment partnerships.
India's free trade agreement strategy seeks to expand preferential market access and integrate the country into global value chains as a trusted trading partner. Negotiations with additional country groups and individual nations are intended to extend agreement coverage to a substantial share of global trade. Investment opportunities are identified in data centres, manufacturing and artificial intelligence, alongside an objective of developing more balanced trade relations between India and Japan.
August 24, 2026
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Foreign exchange market conditions supported rupee appreciation, but crude prices, importer demand and geopolitical sanctions concerns limited gains.
Foreign exchange market conditions supported a modest early appreciation of the rupee against the US dollar due to relative dollar softness. The gain was limited by elevated crude oil prices, importer demand for dollars, and caution over anticipated sanctions affecting Iranian oil trade, banking networks and shipping routes. Currency markets remained sensitive to geopolitical uncertainty and possible wider trade effects.
August 23, 2026
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Undeclared gold importation led to customs interception, seizure, arrest and continuing investigation after concealment inside passenger clothing.
Customs enforcement against undeclared gold importation involved interception of a passenger arriving from Sharjah at Ahmedabad airport following passenger profiling. A gold chain concealed inside clothing was recovered after it was not declared for customs purposes. The chain was seized and the passenger was arrested under the Customs Act, 1962, before being released on bail, with further investigation continuing.
August 23, 2026
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Digital arrest cyber fraud used impersonation, forged notices and coercive video calls to obtain transfers through mule accounts.
Digital arrest cyber fraud allegedly used impersonation of law-enforcement and central banking officials, fabricated notices, threats of arrest and continuous video communications to coerce a retired railway employee into disclosing financial details and transferring funds for purported verification. The alleged proceeds were routed through mule and shell accounts. Banking records, KYC details, digital evidence and transaction trails allegedly connected a recipient account with suspicious transactions and multiple cyber-fraud cases; part of the cheated amount was recovered or refunded.
August 23, 2026
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Political targeting allegations challenge money-laundering enforcement actions, searches, questioning, and public disclosures in the CMRL investigation.
CPI(M) alleges that enforcement action under the Prevention of Money Laundering Act in the CMRL matter is politically motivated targeting of Pinarayi Vijayan, family members and party associates. It contends that searches, questioning and public communications during the investigation were used to create suspicion without incriminating evidence, and characterises references to hawala as a new investigative narrative. The party also alleges selective anti-money-laundering enforcement against opposition leaders and states that the company will address the CMRL-related matter.
August 23, 2026
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Money-laundering investigation into alleged liquor transport irregularities results in arrests connected with claimed loss to the government exchequer.
Money-laundering proceedings concerning alleged financial irregularities in liquor transport led to the arrest of former Andhra Pradesh minister Karumuri Nageswara Rao under the Prevention of Money Laundering Act. The inquiry concerns alleged wrongful loss to the government exchequer arising from liquor-transport operations. Investigative measures included raids and the arrest of Rao's son, along with arrests of a former state beverages corporation managing director and the person described as the principal accused.
August 23, 2026
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Alleged LLP record forgery raises cheating, breach of trust and conspiracy concerns over unauthorised partnership interest changes.
Alleged forgery, cheating, criminal breach of trust and conspiracy concern purported unauthorised changes to LLP statutory records filed with the Registrar of Companies. The allegations include use of false documents to remove a nominated partner, substitute another person as partner and transfer a partner's interest in the LLP. The matter also draws attention to separate land-collaboration allegations and delayed possession claims by homebuyers in a halted housing project.
August 23, 2026
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Voluntary production curtailment addresses polyester yarn cost volatility as weaving units seek customs-duty relief on inputs.
Voluntary production curtailment by weaving units is being adopted in response to increased polyester yarn and related input costs. Units may reduce shifts or observe periodic holidays according to individual commercial feasibility to limit yarn consumption until prices and fabric-market conditions stabilise. Industry representatives allege that yarn-price increases exceed corresponding input-cost movements and seek examination of possible artificial pricing, along with customs-duty relief on yarn and relevant inputs.
August 22, 2026
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Retaliatory tariffs escalate trade restrictions as historic tariff authority enables duties without prior investigation or a prescribed duration.
Retaliatory tariffs are set to escalate bilateral trade restrictions after the United States imposed tariffs of up to 50 per cent on specified Canadian imports. Canada proposes dollar-for-dollar countermeasures covering sectors including steel, dairy, appliances, agricultural equipment, pulp and paper and electronics. Section 338 of the Tariff Act of 1930 is invoked as the legal basis for the United States measures, permitting presidential import duties up to 50 per cent without a prior investigation or prescribed maximum duration. Escalation creates uncertainty for supply chains and renewal of the United States-Mexico-Canada Agreement.
August 22, 2026
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Reciprocal tariffs reshape Canada-United States trade relations, increasing supply-chain risks and accelerating Canadian trade diversification beyond its primary export market.
Canada-United States trade relations are described as entering a confrontational phase after tariff negotiations collapsed. The United States imposed tariffs on specified Canadian goods, while Canada committed to reciprocal import taxes and suspended negotiations. The dispute marks a retreat from preferential market access and continental integration. Canada's export dependence on the United States may limit retaliation and increase risks to output, employment, investment and integrated supply chains. Trade diversification, non-United States investment and expanded Pacific export infrastructure are identified as responses to a potentially enduring protectionist bilateral relationship.
August 22, 2026
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Retaliatory tariffs on United States goods will target key sectors after trade negotiations failed and reciprocal tariff relief was unavailable.
Retaliatory tariffs on United States goods will take effect from 8 September in response to United States tariffs on Canadian products and unsuccessful negotiations. The dollar-for-dollar measures will cover steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, with product-specific details to follow. Canada had been willing to remove certain retaliatory tariffs if corresponding United States tariffs were substantially reduced, but considered the final demands unacceptable.

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Customs & Trade

Amazon CEO meets PM Modi; co adds USD 13 bn to 5-yr mega investment plan for AI, cloud infra

June 25, 2026

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New Delhi, Jun 25 (PTI) Amazon will invest an additional USD 13 billion in India, taking its planned capital commitment in the country to USD 48 billion between 2026 and 2030, Chief Executive Officer Andy Jassy said on Thursday after meeting Prime Minister Narendra Modi.

The fresh investment underscores Amazon's long-term commitment to India, which Jassy described as one of the company's most important growth markets globally.

He said Amazon's India business is seeing strong momentum, driven by robust customer demand across e-commerce and Amazon Web Services (AWS), its cloud-computing division.

The announcement comes as global technology firms step up investments in India, attracted by the country's expanding digital economy, growing consumer base and rising demand for cloud and AI services.

Amazon has invested heavily in India over the past decade, building out logistics networks, technology infrastructure and digital services as it seeks to deepen its presence in one of the world's fastest-growing major economies.

Jassy affirmed Amazon's long-term commitment to the country, and said the company's India business is on a strong growth trajectory with robust customer demand, especially in e-commerce and Amazon Web Services, its cloud computing unit.

He also highlighted the growing importance of India, a market where Amazon operates several businesses, including e-commerce, AI, cloud, and entertainment.

"A great meeting with Mr. Andy Jassy. I welcome Amazon's record USD 48 billion investment in India. This will create new opportunities for our youth," Prime Minister Modi said in a post on X.

This also reflects the growing interest across the world to invest in India, he said.

Sharing a photo from his meeting with the Prime Minister, Jassy, in a post on X, said he really enjoyed the discussion about what’s ahead for Amazon in India.

"We’ve been serving customers, sellers, developers, startups, and enterprises in India for more than a decade and just getting started...Excited about what's ahead. Still early days for what we can build," Jassy said.

The Amazon top boss discussed the company's plans to invest USD 48 billion over the coming five years, including more than USD 21 billion in AI and cloud infrastructure.

By 2030, Amazon plans to support 3.8 million jobs, enable USD 80 billion in e-commerce exports, and bring the benefits of AI to 15 million small businesses and four million government school students, Amazon's top executive said.

The company, in a statement, said that during his meeting with the PM, Jassy reiterated Amazon's long-term commitment to India and announced plans to invest an additional USD 13 billion to expand AI and cloud infrastructure in the country by 2030.

The latest investment pledge positions Amazon as one of the largest global AI and cloud infrastructure investors in India, the US-headquartered e-commerce giant added.

"The investment will expand AWS data centre capacity in Mumbai and Hyderabad, giving startups, enterprises and government organisations access to custom AI chips, managed AI services, secure and reliable cloud technologies and developer tools to innovate faster, scale rapidly, and serve customers globally," according to Amazon.

With this, Amazon's cumulative investments in India exceed USD 88 billion between 2010 and 2030. Just six months back, Amazon had announced USD 35 billion in new India investments.

"The latest investment makes Amazon one of the largest global AI and cloud infrastructure investors in India, in addition to being the largest foreign investor in India, the largest enabler of ecommerce exports and one of the biggest job creators in the country," Amazon said.

The company plans to launch more than 20 new fulfilment centres and over 100 new last-mile delivery stations this year, bringing faster and reliable deliveries to customers nationwide, especially in tier 3 and 4 cities, the statement said.

Amazon has also announced 'Sammaan', a programme focused on the welfare of tens of thousands of delivery associates powering its e-commerce and quick commerce network.

Since its launch in India, Amazon has digitised 12 million small businesses, enabled over USD 20 billion in cumulative e-commerce exports, and supported 2.8 million jobs. Amazon has also trained over 10 million Indians on cloud skills.

"Through 2030, the company plans to invest a total of USD 48 billion to expand and support its businesses in India. In line with the government priorities, Amazon will continue its strong focus on AI-led digitisation, export growth, and job creation," according to the statement.

The Amazon top honcho said the company has seen strong growth in India, especially across e-commerce, AI, and cloud businesses.

"As we grow Amazon in India, our business priorities continue to align with India’s priorities of democratising access to AI, digitising small businesses, creating jobs, and enabling exports. We are investing over USD 48 billion in the coming five years to meet the strong demand across our business in India and to help the country achieve these priorities," Jassy said.

"We are inspired by Prime Minister Modi’s vision of a Viksit and Atmanirbhar Bharat, and we are committed to being a long-term partner in India’s growth story." On the expanded investment pool, the company said the fresh investment commitment will help expand and support AI and cloud infrastructure across the two regions in Mumbai and Hyderabad.

"Both AWS regions enable customers to securely store their data within India and give them access to the world’s most advanced AI and cloud technology, including high-performance Trainium chips and AWS's leading inference engine Amazon Bedrock," Amazon said.

The e-commerce giant underlined that hundreds of thousands of Indian enterprises, startups, and government agencies are already using AWS to build, train, and deploy AI workloads at production scale, including National Health Authority, Government e-Marketplace, Apollo Tyres, Delhivery, Physics Wallah, Axis Bank, and HDFC Bank.

"From day one, AWS has built its infrastructure so customers have full control over where their data resides, who can access it, and how it's secured," the company pointed out.

Amazon.in has over 100 million customers and more than 1.7 million sellers, it said, adding that the company is seeing 85 per cent of new customers and over 65 per cent of orders from tier 2 and 3 cities.

In Bengaluru on Wednesday, Jassy had announced the company's plans to expand its ultra-fast delivery service, Amazon Now, to more than 300 Indian cities and to build what Amazon describes as the country's largest "delivery in minutes" network.

Amazon Now's aggressive expansion comes at a time when India's quick commerce market has emerged as one of the fastest-growing segments of the country's digital economy, driven by rising demand for ultra-fast deliveries and changing consumer preferences. PTI MBI ANZ MBI BAL BAL BAL

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