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    India-UK trade pact: 85 pc of India's exports out of British steel measures
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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
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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
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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
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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
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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
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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
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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
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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
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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.
June 17, 2026
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India-EU free trade agreement advances with investment, defence cooperation and connectivity talks on the agenda.
India and the European Union are to advance their trade and economic engagement by finalising a free trade agreement by the end of the year and accelerating work on an investment agreement. The two sides also identified wider areas of cooperation, including stepped-up security and defence cooperation and collaboration on connectivity through the India-Middle East-Europe Corridor.
June 17, 2026
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Cybersecurity in banking hinges on distinguishing system breaches from customer deception, while faster patch deployment becomes critical against AI-driven vulnerability discovery.
Cybersecurity in banking requires a distinction between internal system breaches and cyber fraud caused by customer deception through phishing and social engineering. A private sector bank said its systems remain secure and that fraud incidents have not stemmed from weaknesses in its cybersecurity architecture. It also identified the main AI-related risk as faster discovery of software vulnerabilities, making quicker patch deployment and remediation essential.
June 17, 2026
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Temporary platform restriction and NEET re-test challenge raise access, compliance, and procedural concerns.
Temporary restriction on access to a messaging platform has prompted a challenge before the Delhi High Court, with the restriction reported as being linked to the period before the NEET-UG re-examination. The development raises a compliance and access issue concerning the basis and scope of the government order affecting the platform. Judicial and parliamentary proceedings are also reported on the NEET-UG re-test and on proposed legislation to decriminalise politics, including a Supreme Court hearing on the re-test plea and committee consideration of detention-linked removal from office for serious crimes.
June 17, 2026
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Precious metals prices fall as a strong rupee, weak global trends and caution ahead of US policy decisions weigh on demand.
Gold and silver prices fell sharply in domestic bullion markets amid a strong rupee, weak global trends and subdued investor demand. Traders stayed away from precious metals as equity markets offered higher returns, while analysts linked caution to key US economic events, including the Federal Reserve's monetary policy decision, and to developments ahead of the scheduled US-Iran meeting.
June 17, 2026
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Special Economic Zones drive India's export growth, with Gujarat emerging as a major hub for investment and semiconductor expansion.
India's export sector recorded an all-time high of USD 863 billion in FY 2025-26 despite disruption from the West Asia conflict and US tariffs, driven by engineering goods, petroleum products, electronics, pharmaceuticals, gems and jewellery, and chemicals. Gujarat emerged as a major contributor, and the discussion highlighted the role of Special Economic Zones in investment, employment, innovation, and export expansion, including newly notified semiconductor SEZ projects and a policy focus on promoting additional SEZs.
June 17, 2026
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Customs duty evasion through false origin claims on walnut imports exposed in a SAFTA-linked routing racket.
Customs authorities uncovered a walnut-import duty evasion racket at Nhava Sheva in which consignments were routed through Jebel Ali and falsely shown as originating from Afghanistan to claim preferential tariff benefits under SAFTA. The scheme allegedly used forged transit bills of lading and a fictitious transit trail to support false country-of-origin claims, causing substantial revenue leakage. Five persons have been arrested, searches yielded digital and documentary evidence, and further investigation continues into beneficiaries, facilitators, financial linkages and connected consignments.
June 17, 2026
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Excise duty revenue gap widens as liquor tax remains a major share of own tax revenue.
State excise duty collections are reported to lag behind peer states, with the state recording the lowest absolute collection among the compared jurisdictions. The data shows a smaller excise base and slower growth than the peer states, making the revenue gap a significant part of the overall State Own Tax Revenue position. Excise duties and VAT on liquor together still form a substantial share of own tax revenue, making liquor-related taxation consequential for the state's fiscal position.
June 17, 2026
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Money laundering allegations drive questioning over disputed corporate transactions and alleged proceeds of crime under PMLA.
Money laundering allegations concern transactions between a now-defunct IT firm and a mining company, with the Enforcement Directorate questioning Veena T and seeking documents on the dealings. The inquiry relates to alleged payments by Cochin Minerals and Rutile Ltd. without services in return, and loans extended to Exalogic by another company connected with the same management. The agency has alleged generation of proceeds of crime and registered the matter under the Prevention of Money Laundering Act on the basis of a prosecution complaint filed by the Serious Fraud Investigation Office.
June 17, 2026
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Competition Commission approval for equity subscription in a financial services company through a proposed combination
Competition Commission approval was granted for a proposed combination involving the subscription of certain equity shareholding by Kedaara Pearl Holding and Kedaara Capital Fund IV AIF in Axis Finance Limited. The transaction concerns a minority equity subscription in a financial services enterprise, with the Commission's detailed order stated to follow.
June 17, 2026
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Proposed combination approval for acquisition of asset management and trustees businesses by TVS entities.
Approval of a proposed combination involving acquisition of 100% of the issued, subscribed and paid-up share capital of PGIM India Asset Management Private Limited and PGIM India Trustees Private Limited by TVS Emerald Limited and TVS Venu Management and Consultancy Services Private Limited. TVS Emerald Limited is engaged in real estate development in India, while TVS Venu Management and Consultancy Services Private Limited presently has no business activities. The target entities are engaged in wealth management, including mutual funds, portfolio management services, alternative investment funds and investment advisory services.

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Customs, DGFT & SEZ

MPEDA to Organise Second National Seafood Skill Olympiad During Seafood Expo Bharat 2026

June 30, 2026

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MPEDA Conducts 50 Nationwide Seafood Value Addition Training Programmes Ahead of National Seafood Skill Olympiad

Seafood Expo Bharat 2026 to Bring Together 5,000 Global Stakeholders for Business and Technology Exchange

The Marine Products Export Development Authority (MPEDA), under the Ministry of Commerce & Industry, will organise the second edition of the National Seafood Skill Olympiad from July 1 to 3, 2026, as part of Seafood Expo Bharat (SEB) 2026. The Olympiad will bring together skilled seafood processing professionals from across the country to showcase their expertise in preparing value-added seafood products.

The competition aims to promote innovation, enhance quality standards, recognise industry talent, and strengthen workforce development in India's seafood processing sector, while encouraging greater value addition in marine exports.

As a precursor to the second edition of the Skill Olympiad, MPEDA conducted an extensive nationwide capacity-building programme comprising 50 Seafood Value Addition Training Programmes. More than 2,500 seafood processing workers and professionals were trained in the preparation of value-added marine products that are in high demand in international markets.

The training covered products such as breaded squid rings, Nobashi (stretched shrimp), breaded butterfly shrimp, cooked Peeled, Deveined, Tail-On (PDTO) shrimp, marinated shrimp skewers and fish fillets. Preliminary-level skill competitions were conducted following each training programme, and the best performers were shortlisted.

The competition subsequently progressed through State-Level Skill Olympiads conducted across the coastal states, followed by Regional Skill Olympiads held in Mumbai for the West Coast and Vijayawada for the East Coast. The top 10 performers from these regional competitions have qualified for the National Seafood Skill Olympiad Grand Finale.

During the Grand Finale, the finalists will demonstrate their technical expertise before an eminent jury comprising experts from the seafood processing industry and academia. The winners will be presented with medals, certificates and cash prizes of ₹1,00,000 for the first prize, ₹75,000 for the second prize, ₹50,000 for the third prize and ₹25,000 for the fourth prize (consolation).

The event will be attended by senior officials from the Central and State Governments, seafood exporters, international buyers, industry leaders, technical experts and delegates participating in Seafood Expo Bharat 2026.

The award-winning value-added seafood products prepared by the finalists will be showcased at the Skill Olympiad Pavilion. The pavilion will also feature live demonstrations and tasting sessions of export-oriented value-added seafood products developed through MPEDA's training programmes.

MPEDA Chairman Shri P. Jawahar said that the National Seafood Skill Olympiad reflects MPEDA's commitment to fostering excellence across the seafood value chain. He said that by recognising and promoting skilled professionals, the initiative is strengthening the industry's workforce and further enhancing India's position as a trusted global supplier of high-quality seafood.

He further stated that investment in human capital is essential for sustaining India's leadership in the blue economy and that the flagship initiative would help create a highly skilled workforce capable of meeting the evolving demands of international markets.

Seafood Expo Bharat 2026, India's premier international seafood exposition will feature more than 325 exhibition stalls across dedicated segments covering seafood processing, aquaculture, packaging machinery, logistics and government pavilions.

Over the three-day event, nearly 5,000 domestic and international stakeholders are expected to participate in high-level business-to-business meetings, engage with stakeholders across retail and aquaculture value chains, and attend five parallel technical sessions focusing on innovation, sustainability and emerging industry trends.

The exposition will also host major workforce and culinary events, including the National Seafood Skill Olympiad and the Seafood Culinary Olympiad, providing a comprehensive platform for industry stakeholders to expand business opportunities, promote innovation and forge strategic partnerships across the global seafood value chain.

India's seafood exports reached a record USD 8.45 billion during FY 2025-26, reaffirming the country's position as one of the world's leading seafood exporting nations. The country currently has 670 approved seafood processing units with a combined processing capacity exceeding 40,000 metric tonnes per day. Of these, 127 units manufacture value-added seafood products, contributing nearly 10 per cent (USD 0.84 billion) of India's total seafood exports.

Recognising the significant growth potential of the value-added seafood segment, India has set an ambitious target of increasing the share of value-added products to 25 per cent of total seafood exports by 2030.

To achieve this objective, MPEDA has been implementing a range of schemes and capacity-building initiatives to promote product innovation, strengthen processing and value addition infrastructure, develop a skilled workforce, and enhance awareness of quality standards across the seafood processing sector.

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