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    After 35 years, India's sovereign rating upgraded to 'A-' by JCR on solid growth, resilient financial system
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    India draws record USD 127 bn forex deposit in special drive
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    Union Minister of Commerce & Industry Shri Piyush Goyal Chairs CEO Roundtable on Ease of Doing Business for Scaling India’s Data Centre Ecosystem
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    PM Surya Ghar Yojana 2026: How to Get Rs 78,000 Solar Subsidy & Cut Your Electricity Bill
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September 2, 2026
Show AI Summary
Sovereign credit rating upgrade reflects resilient economic growth, fiscal quality, financial-system soundness, and external-sector resilience.
Japan Credit Rating Agency upgraded India's foreign-currency and local-currency long-term issuer ratings to A-, citing solid economic growth, strengthened growth-oriented policies and improved financial-system soundness. Improved banking asset quality, insolvency mechanisms, government capital infusion and stronger central-bank supervision support financial resilience. Fiscal quality has improved through greater infrastructure-focused capital expenditure and restraint in current spending, while a contained current-account deficit, services surplus and substantial foreign-exchange reserves support resilience to external shocks.
September 2, 2026
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Currency-market intervention and foreign capital inflows supported rupee resilience amid higher crude prices and dollar strength.
Foreign capital inflows and modest foreign institutional equity purchases supported rupee appreciation against the US dollar despite weak domestic equities, elevated crude oil prices and a stronger dollar. RBI monitoring and apparent currency-market intervention supported the rupee amid risk aversion, higher US Treasury yields and concerns over crude supply disruptions. Forthcoming US employment data remained relevant to dollar and rupee direction.
September 2, 2026
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Foreign-currency non-resident deposits bolster external liquidity through hedging support and lending flexibility during global market uncertainty.
Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits are fixed-term foreign-currency deposits for non-resident Indians, with principal and interest repayable in the deposit currency and without direct rupee exchange-rate risk. A special central-bank programme mobilised substantial FCNR(B) deposits, alongside overseas foreign-currency borrowings and external commercial borrowings, to strengthen foreign-exchange liquidity. Banks received hedging-cost support and permission to lend against the deposits. The facility was closed earlier than scheduled after its mobilisation objective was met.
September 2, 2026
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Foreign currency swap facility accelerated FCNR(B) deposit window closure after substantial diaspora inflows, while borrowing windows remain open.
Special USD-INR foreign-exchange swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings was introduced to strengthen the external sector and support foreign-exchange liquidity. FCNR(B) deposits, under which principal and interest are repayable in the same foreign currency, generated the principal share of inflows. Strong diaspora participation led to advancement of the FCNR(B) window closure. The swap facility for Overseas Foreign Currency Borrowings and External Commercial Borrowings remains open until December 31, 2026.
September 2, 2026
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GST bribery allegations led to a trap operation against officials and an intermediary in a quarrying matter.
Criminal investigation concerns alleged solicitation and acceptance of an undue advantage by CGST officials in connection with settling a GST/royalty matter involving a stone-quarrying firm. The officials allegedly arranged for a private person to collect the payment. A trap operation resulted in the private person being caught while accepting the alleged undue advantage. Searches at the accused persons' premises led to recovery of cash and jewellery, while further investigation continues.
September 2, 2026
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State GST collection growth outpaced national expansion during the first five months, alongside increased VAT and CST receipts.
Haryana's SGST collections increased by 29 per cent during April-August of financial year 2026-27, exceeding the national growth rate of 16 per cent. August 2026 post-settlement SGST revenue rose by 21 per cent, compared with national average growth of 13 per cent. Haryana accounted for less than 4 per cent of national GST taxpayers but contributed approximately 7.7 per cent of aggregate national SGST, CGST and IGST collections. VAT/CST collections rose by 13.8 per cent during the same period.
September 2, 2026
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NBFC loan servicing governance retains lender control through deterministic decision rules, maker-checker controls, reconciled migration and optional AI assistance.
Lokta Next 100 offers RBI-registered NBFCs with loan books up to Rs 100 crore post-approval loan servicing, accounting, reporting, analytics, collections, recovery and partner-management functions, excluding pure-play microfinance NBFCs. Credit, approval and money decisions remain with the lender. Maker-checker approval applies to every change, and migration requires line-by-line reconciliation before cutover. Records remain lender-owned, hosted in India and exportable. AI may propose changes but cannot post to the ledger; deterministic lender-policy rules decide changes. Platform fees are deferred for up to 24 months, subject to stated loan-book thresholds.
September 2, 2026
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RTI access to maintained records does not require creation of Aadhaar date-of-birth update data on demand.
UIDAI did not maintain separate Aadhaar data on date-of-birth updates in Bihar following the announced social security pension enhancement, including month-wise or district-wise compilations. No internal review or flagging of unusual update patterns was available or applicable in its records. The Central Information Commission clarified that the RTI framework does not require a public authority to create, compile or generate information that it does not maintain in the form requested. The initial CPIO response treating the information as outside the RTI Act was considered inappropriate.
September 2, 2026
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Transgender arrest and detention safeguards prompt calls for a standard operating procedure and clearer procedural protections.
Legal and regulatory issues include safeguards for arrest and detention of transgender persons, consultation requirements in Bar Council policy-making, and procedural accountability in electoral administration and policing. Personal insolvency proceedings raise questions about tribunal powers to constitute an expanded bench. Hospitality operators are expected to comply strictly with food-safety and hygiene norms. Proposed restrictions on minors' social-media accounts address cyberbullying, online exploitation, and harmful screen exposure.
September 2, 2026
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Railway equipment purchase orders and export order expand IC Electricals' domestic and international business pipeline.
IC Electricals Company Limited has secured railway purchase orders for electrical and electronic supplies and an export order, creating combined order inflow across domestic railway operations and international markets. Its product portfolio includes regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, alternators, traction motors, and permanent magnet alternators with controllers. Forward-looking statements on business plans, projects, and research and development remain subject to risks and uncertainties and may differ materially from actual results.
September 2, 2026
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Double deflation explains negative manufacturing GVA deflators when input prices rise faster than output prices.
Double deflation in manufacturing separately deflates gross output and intermediate consumption, with real GVA derived from their difference. Where input prices rise faster than output prices, nominal GVA may grow more slowly than real GVA, producing a negative implicit GVA deflator despite rising output and input prices. A negative manufacturing GVA deflator therefore does not establish a fall in manufactured-product prices or lower real growth. The implicit GDP deflator is a derived ratio between current-price and constant-price GDP and differs from CPI and WPI because of their distinct coverage, weights, and price concepts.
September 2, 2026
Show AI Summary
Data centre ease-of-doing-business reforms target reliable power, prepared land, streamlined approvals and building standards for faster infrastructure deployment.
Ease-of-doing-business reforms for India's data-centre ecosystem focus on faster and sustainable infrastructure deployment through reliable power, ready-to-use land, streamlined approvals and suitable building regulations. Proposed power measures include cluster-based transmission planning, first-day sanctioned load, dual feeders and cross-border renewable-energy procurement. Data-centre-ready land banks and power-ready parcels are intended to reduce development timelines. The National Building Code 2026 recognises data centres under Group E and contains a dedicated annex on fire-risk assessment and data-centre-specific performance indicators.
September 2, 2026
Show AI Summary
Trade facilitation and customs cooperation drive follow-up action on connectivity, regulatory coordination, investment promotion and bilateral commercial engagement.
India-Afghanistan bilateral trade and economic cooperation is being advanced through institutional engagement on trade facilitation, customs cooperation, connectivity, investment and commercial exchange. Priority areas include customs and data-sharing cooperation, visa facilitation for traders, banking and financial cooperation, pharmaceutical and agricultural trade, energy cooperation, tariff concessions, cargo connectivity and port-related matters. Follow-up action covers regulatory cooperation, improved connectivity, investment promotion and business-to-business engagement.
September 2, 2026
Show AI Summary
Residential rooftop solar subsidy requires eligibility, prior approval, registered installation, net metering, commissioning, and verified bank details for direct transfer.
PM Surya Ghar Muft Bijli Yojana provides central financial assistance for eligible grid-connected residential rooftop solar systems, capped at Rs. 78,000 for systems of three kilowatts or more. Applicants must be Indian citizens who own a suitable house, hold a valid electricity connection, and have not received an earlier solar-panel subsidy. Applications require portal registration, distribution-company feasibility approval, installation through a registered vendor, net metering, inspection, commissioning and submission of bank details. Assistance is transferred directly after verification. State-specific net-metering procedures, approvals and additional incentives may apply.
September 2, 2026
Show AI Summary
Sovereign credit rating upgrade reflects solid growth, stronger financial systems, and improving fiscal and external resilience.
JCR upgrades India's foreign-currency and local-currency long-term issuer ratings to A- with a stable outlook, citing sustained economic growth, productivity-oriented policies and improved financial-system soundness. Fiscal constraints include elevated deficits, intergovernmental fiscal transfers, electoral-cycle sensitivity, and high combined government debt and interest burdens. Greater emphasis on infrastructure capital expenditure has improved the quality of fiscal spending. External resilience is supported by a contained current account deficit, services surplus and foreign-exchange reserves exceeding short-term external debt.
September 2, 2026
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Personal insolvency bench constitution and repayment-plan eligibility remain contested where a larger tribunal bench stays a third-member order.
Personal insolvency proceedings raised a challenge to the National Company Law Tribunal's authority to constitute a five-member bench after a split verdict. The challenge contended that the mechanism for differing views permits reference to another member or members, but does not authorise a five-member bench. The larger bench stayed the third member's order, restricted asset alienation, and suspended an order permitting settlement of personal-guarantee claims. The dispute concerned the validity of that bench, the split-verdict reference procedure, repayment-plan eligibility, and pending creditor appeals.
September 2, 2026
Show AI Summary
Digital lending app verification enables borrowers to identify regulated lenders, grievance channels, and warning signs before accepting loans.
GoCredit's Loan App Checker allows borrowers to search lending apps against the public Digital Lending App directory and identify the regulated lender, grievance contact and RBI Ombudsman escalation route where a match exists. Regulatory reporting by regulated entities enables app-level verification, while borrowers should also check the lender named in app disclosures and loan agreements. A directory listing is a regulated-entity disclosure, not RBI approval or endorsement. Unmatched apps should be assessed through verification steps and reported through official channels where appropriate.
September 2, 2026
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Rupee depreciation in early trade reflected oil-price pressures, risk aversion, higher Treasury yields and broad dollar strength.
Early foreign-exchange trading saw the rupee weaken against the US dollar amid renewed US-Iran tensions, risk aversion, higher Brent crude prices, and a stronger dollar. Safe-haven demand, inflation concerns linked to potential oil-supply disruption, expectations of a September Federal Reserve rate increase, and higher US Treasury yields supported the broad dollar rally. RBI monitoring of the rupee's decline was noted.
September 2, 2026
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Responsible AI governance requires ethical safeguards, privacy protection, accountability and adaptive oversight to build lasting corporate stakeholder trust.
Responsible artificial intelligence governance requires continuous innovation, inclusive development, responsible deployment and trust-based governance. AI systems should be ethical, safe, transparent, fair and human-centric, with safeguards for privacy, bias, security and accountability. Proportionate and adaptive regulation should provide clear accountability, standards, monitoring, auditability and grievance redressal. Good governance, cybersecurity, personal data protection and responsible AI together strengthen organisational resilience, stakeholder trust, transparency and sustainable innovation.
September 2, 2026
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E-auction of surplus public land enables transparent outright sale of RINL parcels through registered, KYC-verified bidding.
National Land Monetization Corporation will facilitate the e-auction and outright sale of 459 encumbrance-free RINL land parcels, including residential plots and parcels suited for commercial and logistics use. Competitive bidding will occur through the RailTel E-Nivida e-procurement platform. Participation requires online registration, KYC verification, and plot-wise submission of an earnest money deposit within prescribed timelines. The process supports transparent monetisation of surplus land and non-core public assets.

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Customs & Trade

'UK–India Free Trade Agreement will be India's most comprehensive agreement so far': Piyush Goyal at UK–India Week 2026

June 29, 2026

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Capital & Future Frontiers Forum brings together senior ministers, CEOs, investors and innovators to chart the next decade of UK–India trade, capital and technology partnership
LONDON, June 27, 2026 /PRNewswire/ -- The UK–India Free Trade Agreement took centre stage at India Global Forum's Capital & Future Frontiers Forum today, as Hon Piyush Goyal, Minister of Commerce and Industry, Government of India, described it as the most comprehensive trade agreement India has entered into so far.




Held at One Moorgate Place, London, as part of the landmark 10th edition of UK–India Week, the Forum brought together senior ministers, business leaders, investors, founders, policymakers and technology experts to examine how the UK and India can translate the FTA and Vision 2035 into long-term economic growth, capital flows, innovation and commercial partnerships.


The opening fireside chat featured Hon Piyush Goyal and Rt Hon Peter Kyle MP, Secretary of State for Business and Trade and President of the Board of Trade, UK Government, setting the political and economic context for the next phase of the UK–India relationship.


A defining moment for UK–India trade
Speaking at the Forum, Piyush Goyal said:
"Every trading relationship and every partnership stands on its own legs. The UK Free Trade Agreement is going to be the most comprehensive agreement that India has entered into so far, and it will come into force in July."
His remarks positioned the UK–India FTA as a major milestone in India's global trade strategy and a platform for deeper bilateral cooperation across goods, services, investment, innovation and future industries.


UK Business & Trade Secretary Peter Kyle said the agreement formed part of a broader reset in UK–India relations.


"The UK–India FTA was part of a comprehensive resetting of the relationship between Britain and India. When two leaders are so committed to something, and their rapport and relationship are so strong, it puts a rocket under us when it comes to breaking down barriers."
From ambition to execution
Addressing the gathering, Manoj Ladwa, Founder and Chairman, India Global Forum, reflected on the 10th anniversary of UK–India Week and the evolution of the bilateral relationship from goodwill and ambition to structured execution.


He highlighted that bilateral trade has grown from roughly £17 billion when UK–India Week began to nearly £48 billion today, with the FTA projected to increase bilateral trade further in the long run.


Manoj Ladwa said:
"The question is no longer simply how Britain invests in India. It is now how Britain and India build together, with capital, technology, institutions and ambition flowing in both directions."
He added:
"History will not judge us by the conversations we have had. It will judge us by what we build next: the businesses we create, the capital we deploy, the technologies we commercialise, the regions we connect and the partnerships we sustain through disciplined execution."
Capital, technology and the future economy
The Forum examined the forces reshaping the global economy, from capital and geopolitics to artificial intelligence, energy security, life sciences, semiconductors and the future of sport.


Sessions explored how deeper UK–India capital partnerships can move from episodic flows to more structured investment, how India can attract greater weight in global portfolios, and how both countries can build trusted collaboration in frontier technologies.


Speaking during a discussion on technology security, Kanishka Narayan MP, Parliamentary Under-Secretary for AI and Online Safety, said:
"Strategic autonomy isn't about building an island. It's about building bridges that make Britain stronger and give us greater leverage."
The Forum also examined the future of biotechnology and life sciences, with Kiran Mazumdar-Shaw, Chairperson, Biocon Ltd, highlighting the transformational role of AI.


"Biotech is a huge opportunity because computational biology has never been at this scale before. AI has made a transformational difference to the way we look at life sciences."
India's growth story and global capital
Across the programme, senior leaders discussed opportunities in capital markets, clean energy, sport, compute, semiconductors, life sciences, advanced manufacturing and regional investment.


Aryaman Birla, Director, Aditya Birla Group and Chairman Designate, Royal Challengers Bengaluru, spoke about the rise of world-class sporting franchises and the growing economic potential of sport as a serious investment category.


Kanubhai Desai, Finance Minister, Government of Gujarat, highlighted Gujarat's robust financial landscape and stable policy framework, reinforcing the state's position as one of India's most attractive destinations for long-term investment.


The Forum closed with Rajan Bharti Mittal, Vice Chairman, Bharti Enterprises, who offered a powerful assessment of India's long-term growth proposition for global CEOs.


Rajan Bharti Mittal said:
"If India isn't on the agenda of every global CEO, I'd question that CEO. Where else do you find meaningful long-term growth? India is fundamentally a consumption story, powered by a young, educated middle class, manufacturing momentum and trust."
He added that India offers investors long-term confidence through rule of law, democracy, independent regulators and a strong judiciary, positioning the country as a trusted partner for global business.


The next decade of UK–India opportunity
The Capital & Future Frontiers Forum reinforced a central message of UK–India Week 2026: the FTA is not the destination, but the platform for a new decade of investment, innovation and strategic partnership.


The discussions built on earlier UK–India Week engagements in the West Midlands and at India House, including the Gujarat–West Midlands Steering Committee and Gujarat Future Forum, which focused on regional delivery, investment readiness and the practical implementation of the UK–India economic corridor.


The Forum was followed by the prestigious UK–India Awards 2026, India Global Forum's flagship celebration recognising the people, businesses and institutions strengthening one of the world's most consequential bilateral partnerships.


About India Global Forum
India Global Forum is a global platform for leaders from business, government, policy, academia and culture to engage with contemporary India and its growing role in the world. Through high-level forums, strategic dialogues, delegations, reports and curated networks, IGF works to advance partnerships, investment flows and thought leadership across the India growth story and its global corridors.


Photo: https://mma.prnewswire.com/media/3001486/Piyush_Goyal1.jpg' alt='Embedded Media' /> Logo: https://mma.prnewswire.com/media/2566069/6016561/IGF_Logo.jpg' alt='Embedded Media' />
(Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR

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