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    India boosts Russian, UAE oil purchases in Jun ahead of full Hormuz recovery
    Amid global uncertainties, par panel to study evolving economic conditions in India
    Limited increase in petrol, diesel prices in India despite global crude oil market volatility: Puri
    Hyderabad: ED auctions assets worth Rs 159 cr in Heera Group fraud case
    No real spike in petrol, diesel prices in India despite global crude oil market volatility: Puri
    BCBA Hosts Landmark Second Edition of The India Logistics Conclave 2026 at The Taj Mahal Palace, Mumbai
    HSBC INDIA OPENS NEW BRANCH IN SURAT TO SUPPORT WEALTH EXPANSION
    DBS Global University Achieves Record Placements with Sector-Diversified Strategy
    SC junks bizman's plea challenging legality of ED searches in TASMAC case
    Best 10 Rugs and Carpet Brands in India for Luxury Homes - The Ambiente
    Minutes of the Monetary Policy Committee Meeting, June 3 to 5, 2026 [Under Section 45ZL of the Reserve Bank of India Act, 1934]
    Bharat Buildcon 2026 Day Two Witnesses Strong Business Momentum; Global Buyers, Industry Leaders and Policymakers Drive High-Value Engagements
    Commerce Secretary Shri Rajesh Agrawal co-chairs 14th Session of India-Uzbekistan Intergovernmental Commission
    India to assume Vice-Presidency of the Financial Action Task Force for the first time
    NFRA and ICAI collaborate to organise a workshop on “Creating a Better Financial Reporting Ecosystem” at Pune
    UP's exports to BRICS nations cross USD 5.36 billion during FY2025-26: Govt
    J&K's Sirajul Uloom comes under NCLT after being declared illegal
    APEDA flags off Uttarakhand's first litchi consignment to Italy
    BUSINESS HIGHLIGHTS
    Sebi restores market buybacks for firms, caps execution window at 66 days
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    June 21, 2026
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    Crude supply diversification drives India's higher Russian and UAE oil purchases as Hormuz flows slowly normalise.
    India increased crude oil purchases from Russia and the United Arab Emirates in June as refiners sought to secure supplies ahead of the fuller restoration of traffic through the Strait of Hormuz. Russian crude remained the largest source of supply, supported by competitive discounts and steady refinery demand, while India also raised purchases from Atlantic Basin and Venezuelan sources to diversify amid disruption to Gulf flows. The reopening of the Strait of Hormuz is expected to normalise energy shipments in stages, with LPG recovering first, followed by LNG and crude oil.
    June 21, 2026
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    Economic conditions in India to be examined amid global uncertainty, with focus on growth, inflation, employment, and trade.
    Parliamentary financial oversight has added evolving economic conditions in India as a subject for detailed examination for the year 2025-26. The proposed study is directed to assess the country's economic position in light of global uncertainty, geopolitical tensions, tariff-related pressures, supply chain disruptions, and commodity price fluctuations, with particular attention to growth, inflation, employment, investment trends, fiscal management, banking developments, trade, and the impact of external developments on domestic conditions.
    June 20, 2026
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    Petrol and diesel price stability highlighted amid global crude volatility, with excise duty cuts and inventory costs absorbing pressure.
    Petrol and diesel prices in India have remained relatively stable despite volatility in global crude oil markets, with excise duty reductions said to have absorbed the burden of price swings. The minister said oil marketing companies are facing losses on higher-cost crude inventories, but fuel prices could soften when lower-priced crude reaches refiners. The address also highlighted Sonbhadra's development ranking, Uttar Pradesh's economic growth, startup expansion and tourism-driven activity in Ayodhya, Kashi and Prayagraj.
    June 20, 2026
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    Money laundering asset auction: attached Heera Group properties sold for investor restitution under judicial supervision.
    The Enforcement Directorate auctioned 23 immovable assets earlier attached under the Prevention of Money Laundering Act as properties derived from the proceeds of crime in the Heera Group money-laundering investigation. The auction was conducted through MSTC pursuant to directions of the Supreme Court, and the proceeds are to be used for restitution and repayment of genuine investors under judicial supervision.
    June 20, 2026
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    Fuel pricing stability remains despite crude volatility as excise duty cuts and inventory effects cushion consumers.
    Petrol and diesel prices in India have not materially increased despite volatility in global crude oil markets, with the government saying excise duty reductions absorbed much of the pressure. The statement says oil marketing companies have faced losses without passing the full burden to consumers, and that fuel prices may soften when lower-priced crude reaches refiners. It also highlights India's economic growth, Sonbhadra's development progress, and Uttar Pradesh's expansion in industry, employment and tourism-linked infrastructure.
    June 20, 2026
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    Logistics ecosystem collaboration drives India's trade facilitation agenda at the India Logistics Conclave 2026.
    The Brihanmumbai Custom Brokers' Association hosted the second edition of the India Logistics Conclave 2026 in Mumbai, bringing together more than 550 delegates, government leaders and industry participants from the customs, ports, shipping, trade and logistics sectors. The conclave featured sessions on the roadmap for India's long-term development, the digital backbone of customs and trade, geopolitics and trade, and policy and infrastructure for a futuristic logistics ecosystem.
    June 20, 2026
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    Wealth banking expansion drives HSBC India's new Surat branch, strengthening services for affluent and non-resident clients.
    HSBC India opened a new branch in Surat, Gujarat, to strengthen its presence in an emerging wealth and industrial centre and expand services for affluent, HNW, UHNW and non-resident Indian customers. The launch forms part of the bank's broader wealth strategy in India and follows Reserve Bank of India approval in 2025 to open additional branches in key cities. HSBC India said the branch is intended to support a growing customer base in emerging wealth hubs and its continued branch network expansion across India.
    June 20, 2026
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    Sector-diversified placement strategy strengthens recruiter confidence and broadens student opportunities across multiple industries.
    DBS Global University reported a placement season driven by a sector-diversified recruitment strategy intended to reduce dependence on any single industry amid broader hiring slowdowns, especially in IT and banking. The placement team expanded relationships across core and emerging sectors, using placement intelligence, alumni networks and a curriculum aligned to industry needs to maintain recruitment momentum across a wider employer base. Placements were described across IT, FMCG, cement, home construction, retail, edtech, logistics, banking, consulting, NBFC, insurance, ecommerce and manufacturing, with roles in leadership, supply chain management, operations and brand management.
    June 20, 2026
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    Enforcement Directorate searches and seizure proceedings in a TASMAC-linked money-laundering probe faced challenge over their legality.
    Challenge to the legality of Enforcement Directorate searches and seizure proceedings at a businessman's residence in a money-laundering probe linked to TASMAC. The plea sought quashing of searches conducted on multiple dates, but the High Court had declined to examine their validity at that stage. The Supreme Court upheld that approach and did not entertain the challenge to the searches.
    June 20, 2026
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    Luxury rug selection in India favors handmade craftsmanship, bespoke customization, and durable natural materials for homes and hotels.
    Luxury rug and carpet selection in India is presented as a matter of craftsmanship, material quality, customization, and project suitability, with handmade and hand-knotted products positioned as superior to machine-made alternatives for durability, design flexibility, sustainability, and long-term value. The guide identifies The Ambiente as the leading luxury rug brand, emphasizing bespoke handmade rugs from Bhadohi, strong customization, premium materials, and suitability for homes, villas, hotels, and corporate spaces.
    June 20, 2026
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    Monetary policy status quo amid energy shocks, with repo rate unchanged and neutral stance retained as inflation risks build.
    The Monetary Policy Committee reviewed global and domestic macroeconomic conditions amid prolonged West Asia conflict, elevated energy prices, supply-chain disruptions, and weather-related risks. It unanimously kept the policy repo rate unchanged at 5.25 per cent and retained the neutral stance, while the standing deposit facility rate, marginal standing facility rate, and Bank Rate remained unchanged. The minutes project real GDP growth at 6.6 per cent for 2026-27 and CPI inflation at 5.1 per cent, with continued vigilance on energy pass-through, food prices, and inflation expectations.
    June 20, 2026
    Show AI Summary
    Building materials trade and export linkages gain momentum as Bharat Buildcon 2026 connects global buyers and manufacturers.
    Bharat Buildcon 2026 highlighted the expansion of India's building materials and construction sector through a large-scale exhibition, business networking platform and industry conference programme bringing together domestic and international buyers, manufacturers, policymakers and trade stakeholders. The event featured buyer-seller meetings, product showcases and knowledge-sharing sessions aimed at strengthening export linkages, market access and business collaboration across categories such as ceramics, tiles, sanitaryware, bathware, hardware, plywood, laminates, paints, construction chemicals, machinery and building technologies. The exhibition also underscored policy and infrastructure themes linked to water conservation, sustainable infrastructure development, real estate growth, industrial expansion and urbanisation. Discussions referenced government-led development initiatives and the broader role of manufacturing, logistics, hospitality, transportation and services in supporting industry growth.
    June 20, 2026
    Show AI Summary
    Trade expansion and non-tariff barrier review shape India-Uzbekistan cooperation across sectors, digital systems and logistics.
    India and Uzbekistan agreed to deepen bilateral trade, address non-tariff barriers and work towards doubling trade over the next three years through the India-Uzbekistan Intergovernmental Commission on Trade, Economic, Scientific and Technological Cooperation. The parties discussed expansion of Indian exports across multiple sectors, priority cooperation in pharmaceuticals and agriculture, and wider collaboration in ICT, digital infrastructure, customs data exchange, payment systems, energy and critical minerals. Non-tariff barriers, logistics connectivity and business engagement were identified as key areas for review and implementation.
    June 20, 2026
    Show AI Summary
    Anti-money laundering leadership strengthens as India assumes FATF Vice-Presidency for the first time.
    India has assumed the Vice-Presidency of the Financial Action Task Force for the first time, with Shri Vivek Aggarwal appointed for the term July 2026 to June 2027. The Vice-President is elected by the FATF Plenary and assists the President in steering the organisation's work. The appointment places an Indian official in a key role within the global standard-setting body for anti-money laundering and counter-terrorist financing.
    June 20, 2026
    Show AI Summary
    Audit quality and financial reporting standards drive NFRA-ICAI workshop focus on professional capacity and global competitiveness.
    NFRA, in collaboration with ICAI, organised a workshop in Pune to enhance professional capacity for audit practitioners, strengthen audit quality and improve the quality of financial reporting. The programme focused on the role of the accountancy profession in safeguarding public interest and maintaining trust in financial reporting, while urging audit firms, including small and medium practitioners, to align with contemporary global standards and continuously improve competence.
    June 20, 2026
    Show AI Summary
    MSME-led trade expansion drives Uttar Pradesh's BRICS exports, with industrial support schemes linking artisans, youth and global markets.
    Uttar Pradesh reported expanding trade links with BRICS member and partner countries, with exports of machinery, garments, leather, carpets and precious stones crossing USD 5.36 billion in 2025-26. The state also highlighted the MSME sector as a driver of employment and growth, along with the One District One Product scheme, Vishwakarma Shram Samman Yojana, youth entrepreneurship support through interest-free, guarantee-free loans, and MSME parks under the PLEDGE scheme.
    June 19, 2026
    Show AI Summary
    NCLT asset takeover follows declaration of illegal entity, with property vested and encroachment warned against.
    NCLT has taken over the assets and properties of the Sirajul Uloom Welfare Foundation after it was declared an illegal entity, with all properties vested in the National Company Law Tribunal, Chandigarh. The order warns that interference with, encroachment upon, or trespass over the properties would violate the tribunal's directions and attract action under the relevant legal provisions.
    June 19, 2026
    Show AI Summary
    Fresh litchi export facilitation boosts Uttarakhand growers and opens European market access through coordinated export support.
    Facilitation of the first-ever export consignment of fresh litchis from Uttarakhand to Italy marked the State's entry into the European market. The inaugural shipment of one metric tonne of Dehradun litchi was dispatched from Dehradun, with the export covering varieties such as Rose Scented, Calcuttia and Bedana cultivated in the Dehradun, Haridwar, Nainital and Udham Singh Nagar districts. The export initiative provided a financial boost to local growers, with farmers reportedly securing prices nearly 25 per cent higher than prevailing domestic market rates.
    June 19, 2026
    Show AI Summary
    Regulatory and market updates include buyback reforms, IPO approvals, RBI caution on rates, and food safety notices.
    Employment incentives were disbursed under Pradhan Mantri Viksit Bharat Rozgar Yojana, with support extended for new jobs and the employment count under the scheme reported as having crossed 70 lakh. Sebi approved the reintroduction of share buybacks through stock exchanges, allowed open-market repurchases from August 1, and capped the execution period at 66 working days. The RBI Monetary Policy Committee maintained a wait-and-watch stance on interest rates amid uncertainty over inflation and growth. Food safety notices, forex reserve data and market updates were also reported.
    June 19, 2026
    Show AI Summary
    Share buyback framework returns through stock exchanges with tighter execution limits and simpler market access rules.
    Sebi approved the reintroduction of share buybacks through stock exchanges, allowing companies to repurchase their own shares through regular trading mechanisms without a dedicated buyback window, with the execution period capped at 66 working days. The board also eased mutual fund borrowing norms, simplified securities transmission procedures, approved a green-channel mechanism for AIFs, strengthened governance and disclosure requirements for Sebi members and employees, and cleared amendments to frameworks for SDIs and municipal debt securities.

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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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