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    India-UK social security pact to benefit 90-95 pc of Indian professionals working in Britain
    OFCD case: SC agrees to hear SEBI's plea against SAT relief to SICCL managers
    Gold imports drop 70 pc to 30 tonnes after duty hike: Official
    ED carries out searches across Kerala in organ donation racket money laundering probe
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    June 18, 2026
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    Social security exemption for temporary India-UK assignees will cut duplicate contributions and support skilled worker mobility.
    The India-UK Double Contribution Convention will exempt employees temporarily transferred between the two countries from host-country social security contributions for up to five years, subject to a certificate of coverage. The arrangement is reciprocal for eligible UK nationals working in India and is intended to preserve home-country social security coverage during temporary overseas assignments while reducing duplicate contribution burdens on workers and employers.
    June 18, 2026
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    Public offer classification of OFCD issuances and employee liability remain under challenge before the Supreme Court.
    Securities law issues concerning the issuance of optionally fully convertible debentures (OFCDs) by Sahara India Commercial Corporation Ltd. are under challenge, with SEBI contesting a part of the Securities Appellate Tribunal's relief granted to four managers and the company secretary. The tribunal had treated the OFCD issuances as a public offer within SEBI's regulatory jurisdiction, while also distinguishing the position of employees from that of the directors who had authorised the prospectus and remained responsible as principals for acts done through their agent. SEBI has now challenged this limited relief before the Supreme Court.
    June 18, 2026
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    Gold import duty hike drives sharp fall in volumes as foreign exchange conservation becomes policy priority.
    Gold imports in India declined sharply in volume terms after the customs duty on gold and silver was raised from 6 per cent to 15 per cent. Imports reportedly fell to about 25-30 tonnes in a month from earlier levels of 75-100 tonnes, while higher global prices kept import values elevated. The duty increase is presented as part of a broader policy response aimed at curbing gold purchases and conserving foreign exchange for essential imports.
    June 18, 2026
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    Money laundering probe over forged organ donation racket focuses on intermediaries, hospital transactions, and verification bypasses.
    Enforcement Directorate searches were conducted at hospitals and residences across Kerala in a money laundering probe linked to an alleged racket facilitating illegal organ donations through forged documents. The investigation was based on multiple police FIRs, with preliminary material indicating that intermediaries arranged donations between donors, recipients and hospitals for substantial sums. Investigators were examining bank transactions and medical records connected with the alleged organ donation arrangements. Police enquiries also indicate that the accused forged hospital letterheads, police clearance certificates and recommendation letters to bypass verification and clearance requirements.
    June 18, 2026
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    Trade and social security framework expands duty-free access, services mobility, and temporary worker contribution relief.
    India and the United Kingdom will bring CETA and the Agreement on Social Security into force on 15 July 2026, creating a broad trade and mobility framework covering goods, services, digital trade, telecommunications, financial services, intellectual property, government procurement, innovation, SMEs, sustainability and transparency. CETA provides immediate duty-free access for nearly 99% of India's exports to the UK, expands services market access across 137 sub-sectors, and preserves protection for sensitive Indian sectors. The Social Security Agreement exempts temporary workers from dual contributions and extends the exemption period from 3 years to 5 years.
    June 18, 2026
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    Trade agreement talks advance as India and the United States push for a balanced, commercially meaningful pact.
    Trade negotiations between India and the United States were advanced through a directive by the two leaders to their officials to work towards a balanced, mutually beneficial and commercially meaningful interim bilateral trade agreement at the earliest. The talks were described as having made significant progress, with further negotiations already underway and a visiting trade representative expected to take them forward. Both sides also reaffirmed commitment to strengthen the India-US Comprehensive Global Strategic Partnership and expand cooperation across defence, strategic technologies, energy and bilateral trade.
    June 18, 2026
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    Foreign interference in elections fuels Brazil-US tensions amid tariff disputes, sanctions, and criticism of drug-cartel designations.
    Brazilian President Luiz Inacio Lula da Silva warned against foreign interference in Brazil's October presidential election after remarks by the US President and renewed criticism linked to judicial action involving Lula's political rivals. The dispute reflects escalating tensions between Brazil and the United States over Brazil's domestic politics, including US sanctions against a Brazilian Supreme Court Justice and public comments about the Bolsonaro family. The article also notes proposed additional tariffs on Brazilian imports and Lula's criticism of the US designation of two Brazilian drug-trafficking groups as foreign terrorist organizations.
    June 18, 2026
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    Phased customs duty cuts and quota limits govern UK passenger car imports under the India-UK trade pact.
    India-UK trade pact provides phased reduction of customs duty on passenger vehicle imports from the UK, with quota-based access across specified engine-capacity and price bands. Conventional-engine passenger cars receive concessional treatment over 15 years, while electric, hybrid and hydrogen passenger cars are covered only from later years under limited quotas and reduced duties. Vehicles priced below GBP 40,000 CIF are excluded from market opening, and zero-emission two-wheelers, buses and trucks are excluded from any preferential customs duty concession.
    June 17, 2026
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    Offer for sale structure drives National Stock Exchange's long-delayed public listing filing after regulatory hurdles ease.
    National Stock Exchange filed preliminary papers for a proposed initial public offering structured entirely as an offer for sale by existing shareholders. The filing follows board approval and a no-objection certificate, after years of delay caused by regulatory concerns, including the co-location controversy and governance lapses. The exchange later made further compliance representations, appointed merchant bankers and other advisers, and pursued settlement in the unfair market access matter, with in-principle approval of that settlement described as removing a key obstacle to the proposed listing.
    June 17, 2026
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    Social security exemption for Indian workers in the UK extends to five years under the trade pact.
    Social security arrangements under the India-UK trade pact provide a temporary exemption from dual social security contributions for Indian workers and employers in the United Kingdom during overseas assignments. The exemption period is extended from three years to five years, applying to employees seconded from India to support UK operations. The arrangement is intended to preserve continued social security coverage during temporary postings and to facilitate labour mobility between the two countries.
    June 17, 2026
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    Steel trade safeguards shape India-UK CETA implementation as quota limits and tariff rules are adjusted for exporters.
    India-UK CETA is set to enter into force from 15 July 2026, with steel trade arrangements designed to keep a substantial share of India's exports outside the UK's safeguard measures. India's interests are said to be protected through country-specific quota, residual quota and access under the Authorised Use Scheme, while the UK's new steel regime will limit tariff-free imports, reduce quota volumes and impose a higher tariff on imports above the permitted levels. The article also notes the UK's planned carbon border adjustment mechanism from 2027.
    June 17, 2026
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    India-UK free trade pact expands duty-free market access and extends social security relief for temporary workers.
    India and the United Kingdom will bring into force the free trade agreement and the Agreement on Social Security, or Double Contribution Convention, on 15 July 2026 after completing internal procedures and ratifications. The pact is said to provide immediate duty-free access for 99 per cent of Indian exports, tariff reductions on selected British goods, and broader market access for services, while preserving exclusion lists for sensitive sectors. The Double Contribution Convention will exempt Indian companies in the UK from social security contributions for up to five years for employees sent from India.
    June 17, 2026
    Show AI Summary
    Minimum Support Price guarantee and trade pact opposition drive a nationwide farmers' protest campaign.
    Opposition to the proposed India-US Free Trade Agreement centred on demands for a legal guarantee of Minimum Support Price at C2 plus 50 per cent with assured procurement, repeal of free trade agreements, and a comprehensive farm loan waiver. The campaign also included planned nationwide protest action, protest forms to be by state bodies, and related demands on rural employment, wages, water rights and other local agitations.
    June 17, 2026
    Show AI Summary
    Trade liberalisation and tariff cuts under the India-UK economic pact are set to begin on 15 July 2026.
    The India-UK Comprehensive Economic and Trade Agreement is scheduled to enter into force on 15 July 2026, initiating a framework for deeper bilateral trade, investment and market access. The agreement is described as providing substantial tariff liberalisation across goods and services, including staged reductions or elimination of duties on selected products, and reciprocal social security coordination for highly skilled professionals on pre-existing visa routes.
    June 17, 2026
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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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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