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    CCI approves merger of 51 Malabar Group’s companies with and into Malabar Gold and Diamonds Ltd
    CCI approves acquisition of certain shareholding in Sorting Hat Technologies and its merger with and into upGrad Education Pvt Ltd
    Airlines' body FIA urges govt to bring jet fuel under GST
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    Moongipa Capital Finance Unveils Its Next Growth Chapter with Digital Transformation and Entry into Electric Vehicle Financing
    IIFL Finance Says Co-Lending Can Accelerate India's Last-Mile Credit Delivery
    Union Minister of Commerce and Industry Shri Piyush Goyal calls upon leather and footwear industry to target at least USD 15 billion in exports in nex...
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    2 months after arrest, Nashik court grants bail to TCS staffer Nida; no relief for co-accused
    Landing, parking charges waiver at major airports for airlines unlikely to continue
    Forged GST bills, rural bank accounts aided India-Myanmar betel nut racket: ED
    Rupee falls 25 paise against US dollar
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    July 8, 2026
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    Merger approval under competition law for Malabar Group companies and Malabar Gold and Diamonds Limited in the jewellery sector.
    Merger approval under competition law for the combination involving 51 Malabar Group companies and Malabar Gold and Diamonds Limited. The proposed transaction envisages the merger of 51 transferor companies with the transferee company, most of which are engaged in the jewellery business. The transferee company is engaged in manufacturing, trading, retailing, wholesaling, supplying, distributing, importing, exporting, buying, franchising and otherwise dealing in jewellery and allied products.
    July 8, 2026
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    Competition approval for acquisition and merger in the education sector involving Sorting Hat Technologies and upGrad Education.
    Competition approval was granted for the proposed combination involving acquisition of certain shareholding in Sorting Hat Technologies Private Limited and its merger with and into upGrad Education Private Limited. The combination concerns two Indian private limited companies with presence in the education sector, including formal and non-formal education for the acquirer and non-formal education for the target.
    July 7, 2026
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    Aviation turbine fuel under GST sought to cut airline operating costs and improve financial viability.
    Airlines have sought inclusion of aviation turbine fuel under the GST regime to reduce operating costs and ease financial pressure on Indian carriers. The request points to the present tax structure under which States levy excise duty and VAT on ATF, making fuel a major component of airline operating expenses. The industry body urges that ATF be brought under GST at 5 per cent with full Input Tax Credit, and asks the civil aviation ministry to support engagement with the relevant ministries and stakeholders.
    July 7, 2026
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    Alcohol and aquaculture feed pressure weigh on IFB Agro as excise issues, input costs and supply disruptions persist.
    IFB Agro Industries reported improved consolidated revenue for FY26 but warned of continued pressure on its alcohol business from excess ENA capacity, higher input costs, weak by-product realisations and repeated excise duty increases affecting IML demand. The company also alleged intermittent disruption to distillery operations and interference by state excise authorities. Its aquaculture feed and marine businesses were said to face raw material inflation, pricing constraints, shrimp supply shortages, geopolitical freight disruptions and shipping delays.
    July 7, 2026
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    NPS investment flexibility expands as additional life cycle fund choices are extended to eligible Central Autonomous Body employees.
    Additional NPS investment choices have been extended to employees of Central Autonomous Bodies covered under the National Pension System. The earlier notification introducing two life cycle funds for Central Government employees is now made available to eligible CAB employees under revised names and investment parameters. The choices provide greater flexibility in pension investment and are to be disseminated by administrative authorities and implemented in the Central Recordkeeping Agency system.
    July 7, 2026
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    Experiential dining expansion as TGI Fridays launches a flagship microbrewery concept in India through strategic franchise partnerships.
    TGI Fridays expanded its India presence with the launch of a flagship outlet at Ambience Mall, Vasant Kunj, presented as the world's first TGI Fridays microbrewery. The concept combines the brand's American dining format with in-house craft brewing, handcrafted cocktails, live brewing and contemporary interiors, and is positioned as a differentiated experiential destination for the Indian market. The launch was executed through Bistro Hospitality Pvt. Ltd., the master franchisee for India, in partnership with Feastary Hospitality LLP, the exclusive franchise partner for North India.
    July 7, 2026
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    Investor fraud alerts warn against impersonation scams, fake trading groups and unverifiable investment offers using brand identity.
    Investor advisory cautions against fraudulent entities and impersonation scams misusing the name, logo and brand identity of Axis Securities and Axis Direct to promote fake investment opportunities. Investors are advised to independently verify all investment-related communication, payment requests and offers through official channels before acting. Warning signs include unofficial groups, unauthorised stock tips, requests for transfers to personal or unverified accounts, unrealistic return promises, unfamiliar applications, confidential information requests and unverifiable documents or approvals.
    July 7, 2026
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    Export market access boosts women-led horticulture in Jharkhand through APEDA-facilitated Amrapali mango shipments to Dubai.
    APEDA facilitated the commercial export of Amrapali mangoes from Jharkhand to Dubai through women-led Farmer Producer Companies, connecting tribal and rural producers with overseas retail markets. The export was supported by coordinated participation of APEDA, state and district administrations, exporters and development institutions, and was accompanied by capacity-building on international quality standards, post-harvest handling, export procedures and institutional awareness for export readiness.
    July 7, 2026
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    Risk-mitigation credit support under ECLGS 5.0 boosts liquidity for MSMEs and other businesses.
    Emergency Credit Line Guarantee Scheme 5.0 provides risk-mitigation support to lending institutions for extending additional credit to businesses affected by external geopolitical disruption. The scheme offers 100% guarantee coverage for additional loans to MSMEs and 90% coverage for other business segments, with the objective of improving liquidity, easing cash-flow disruption, and enabling member lending institutions to lend with greater confidence. A nationwide outreach programme is also underway to improve awareness and support implementation.
    July 7, 2026
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    Responsible AI governance gains momentum as HCLTech secures ISO/IEC 42001:2023 certification for enterprise AI management.
    HCLTech obtained ISO/IEC 42001:2023 certification for its Enterprise Artificial Intelligence Management System, covering AI lifecycle processes and AI-enabled services. The certification validates a Responsible AI framework focused on governance, risk management, transparency, fairness, accountability and continuous improvement, and is said to align with evolving global regulatory requirements, including the EU AI Act.
    July 7, 2026
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    Digital lending and electric vehicle financing drive Moongipa Capital Finance's strategic expansion and technology-led growth.
    Moongipa Capital Finance Ltd., an RBI-registered NBFC-ICC, has announced a strategic expansion centred on digital transformation and entry into electric vehicle financing. The company is strengthening its lending model through a technology-enabled ecosystem intended to support faster credit decisions, paperless onboarding, workflow automation, loan origination, servicing, and customer engagement, while stating that underwriting, pricing, compliance, and credit approval remain its own responsibility in line with RBI Digital Lending Guidelines.
    July 7, 2026
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    Co-lending and financial inclusion can expand affordable credit, improve last-mile delivery and support underserved borrowers.
    Co-lending between banks and NBFCs is presented as a mechanism for expanding affordable formal credit to underserved borrowers and advancing financial inclusion. The framework is said to combine banks' low-cost capital and balance-sheet strength with NBFCs' local market knowledge and last-mile distribution, improving access, speeding disbursement and reducing dependence on informal finance. The RBI's co-lending framework is described as providing clarity on governance, risk-sharing and customer protection.
    July 7, 2026
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    Leather and footwear exports urged to grow through FTAs, market diversification, stronger standards and sustainability.
    Leather and footwear exporters are urged to pursue three-fold growth and raise exports to at least USD 15 billion by using Free Trade Agreements, diversifying destination markets and strengthening quality, design, branding, sustainability and scale. The sector is also encouraged to deepen institutional and technical capabilities through leather development centres, design and packaging institutions, quality and standards bodies, and advanced testing laboratories, while improving worker training, product standards, safe manufacturing and sustainability.
    July 7, 2026
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    Energy statistics harmonization advances with new methodologies for coal, biofuels, captive electricity and electric vehicle data gaps.
    Strengthening India's energy statistics framework requires harmonized definitions, classifications, conversion factors and estimation methods across line ministries to improve consistency, comparability and international alignment. The committee recommended adoption of standard industrial and energy-product classifications, along with uniform conversion factors, for collection and dissemination of energy statistics, and proposed methodologies to refine sectoral end-use consumption estimates for coal and electricity using the Annual Survey of Industries database. The report further identified significant gaps in biofuel consumption data and in capturing electricity consumption through captive or off-grid modes and by electric vehicles. For these areas, it proposed initial methodological frameworks to be refined for incorporation into the energy-balance database.
    July 7, 2026
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    Bilingual online management education expands access while preserving academic rigour through structured learning and accountable evaluation.
    IIM Udaipur virtually inaugurated its BBA Program as a bilingual, online-enabled management education initiative designed to widen access while maintaining academic rigour. The program combines digital delivery with offline examinations, faculty-led structured learning, regular assessment and scholarship support, and was presented as a model for accessible yet high-quality management education.
    July 7, 2026
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    Provident fund payment integration streamlines digital statutory compliance through EPFO portal transactions and instant challan confirmation.
    IDFC FIRST Bank has been integrated with the Employees' Provident Fund Organisation platform to facilitate provident fund payments through its retail and corporate internet banking channels. The arrangement enables establishments to create challans on the EPFO portal, select the bank as payment option, complete transactions digitally, and obtain real-time confirmation and instant challan downloads for reconciliation and record-keeping.
    July 6, 2026
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    Bail in sexual harassment and forced conversion allegations turns on grave accusations, witness tampering risk, and coercion claims.
    Bail proceedings arose from allegations of sexual harassment, deceitful sexual relations, caste-based abuse, and attempts to coerce religious conversion against employees connected with a TCS unit in Nashik. One accused was granted bail, another was denied bail on the ground that the accusations were grave and that the possibility of tampering with evidence, intimidating witnesses, or fleeing from justice could not be ruled out; a reasoned order on the woman accused's bail was not available in the text, though she had sought bail on the ground of pregnancy.
    July 6, 2026
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    Landing and parking charges waiver for domestic flights at major airports is reported to have lapsed without extension.
    Landing and parking charges at major airports were reduced by 25 per cent for domestic flights for a three-month period under the civil aviation ministry's directive, implemented by AERA in response to West Asia turmoil and related airline financial stress. Airport operators have not received any extension order, and the reduced aeronautical tariff is reported to have lapsed.
    July 6, 2026
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    Forged GST invoices and hawala routing allegedly enabled a border smuggling and money-laundering network for areca nut trade.
    An alleged organised syndicate smuggled foreign-origin areca nut across the India-Myanmar border and channelled the proceeds through a laundering network using forged GST invoices, bogus supplier and buyer entities, false transport documents and hawala routes. The alleged operation involved suppliers in Mizoram, facilitators in Assam, consignees and financiers in West Bengal and Uttar Pradesh, and an invoicing entity in Kolkata said to have enabled circular trading. The investigation, conducted under the Prevention of Money Laundering Act, involved multi-state searches and the seizure or freezing of diaries, title deeds, property documents, cash and bank accounts.
    July 6, 2026
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    Rupee depreciation against the US dollar reflects dollar strength, rate-hike expectations, and foreign exchange reserve pressures.
    The rupee depreciated against the US dollar as the strengthening greenback weighed on emerging market currencies, despite firm domestic equities and softer crude oil prices. Market participants cited expectations of a further US rate hike, importer hedging demand, and dollar strength as key influences. The report also noted foreign institutional inflows into equities and observed that fresh inflows may support reserve rebuilding rather than allowing the rupee to appreciate sharply. India's foreign exchange reserves declined in the latest weekly update after a prior increase.

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      Customs, DGFT & SEZ

      Union Minister of Commerce and Industry Shri Piyush Goyal Asks States to Fully Utilise BHAVYA Scheme and Accord Highest Priority to Exports at Board of Trade Meeting

      July 4, 2026

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      Shri Piyush Goyal Outlines Seven-Point Action Agenda for States and Industry to Accelerate India's Export Growth

      90-Day Export Drive to Cover 120 Priority Districts Across 27 States and UTs Under Districts as Export Hubs Initiative

      Shri Piyush Goyal Says ₹25,000 Crore Export Promotion Mission Will Drive MSME-Led Export Growth

      Shri Piyush Goyal Sets USD 1 Trillion Export Target for India, Calls for Coordinated Centre-State Effort

      Union Minister of Commerce and Industry Shri Piyush Goyal today urged State Governments to fully utilise the BHAVYA Industrial Parks Scheme and accord the highest priority to exports, calling for a coordinated national effort to strengthen India's export competitiveness. Addressing the one-day Board of Trade (BoT) meeting today in New Delhi, the Minister outlined a seven-point action agenda for States, Export Promotion Councils (EPCs), industry associations and exporters to accelerate India's export growth.

      The Board of Trade, the apex consultative platform of the Department of Commerce, met under the chairmanship of Shri Piyush Goyal. Minister of State for Commerce and Industry Shri Jitin Prasada, newly inducted members of the Board of Trade, Ministers and representatives from States and Union Territories, Export Promotion Councils, apex industry chambers and non-official members participated in the meeting.

      Addressing the gathering, the Minister, as the first point of agenda called upon all stakeholders to make exports a high-priority agenda item. He urged States, line ministries, EPCs and industry associations to establish export committees, hold regular engagements with exporters and conduct monthly review meetings, including through video conferencing where necessary.

      As the second point of the action agenda, Shri Goyal urged States to actively participate in the BHAVYA Industrial Parks Scheme, for which the first round is currently open. He also called upon States that have not yet notified labour rules under the labour codes to do so at the earliest, describing land and labour as two critical business enablers requiring urgent attention.

      The Minister's third action point focused on strengthening quality infrastructure. He assured States and industry that the Government would provide full support for establishing testing facilities in government, semi-government and university laboratories, which would significantly reduce testing costs and improve the competitiveness of Indian products.

      As the fourth point, Shri Goyal highlighted the support available under the Export Promotion Mission (EPM) for exporters, particularly micro and small enterprises. He said the Mission would finance a substantial portion of the expenditure incurred in obtaining international approvals and certifications, including those related to pharmaceuticals, agricultural products, SPS and TBT requirements, testing costs and compliance with regulations in developed markets. He also urged States to align their incentive structures and industrial policies with Central Government initiatives to create economies of scale and promote high-quality, high-productivity manufacturing units.

      Under the fifth action point, the Minister encouraged industries affected by unfair trade practices to approach the Directorate General of Trade Remedies (DGTR). He stated that DGTR would support domestic industries facing injury due to dumping or predatory pricing by foreign producers and could provide remedies through anti-dumping measures, safeguard duties and other available trade remedy instruments. He also highlighted DGTR's outreach mechanisms, including Jan Sunwai, for addressing industry concerns.

      The sixth action point focused on import substitution. Shri Goyal urged States and industry to identify products that are currently being imported but can be manufactured competitively in India. He said such efforts would not only reduce import dependence and save foreign exchange but also strengthen domestic supply chains and reduce vulnerabilities arising from excessive dependence on foreign suppliers.

      As the seventh action point, the Minister urged States and industry associations to actively participate in international exhibitions, trade fairs and business delegations. He called upon States to prepare lists of associations and exporters interested in exploring overseas markets, particularly new exporters and MSMEs. He said the Export Promotion Mission would support eligible enterprises by assisting with overseas exhibitions and international business outreach, enabling them to take advantage of India's expanding network of Free Trade Agreements.

      Setting the broader agenda for the meeting, Shri Goyal noted that India had concluded FY 2025-26 with its highest-ever exports of USD 863 billion, registering growth of 4.6 per cent despite tariff realignments, freight disruptions and slowing global demand. Merchandise exports remained resilient at around USD 442 billion, while services exports reached a record level of over USD 421 billion.

      Referring to India's record export performance in FY 2025-26, the Minister said that the achievement had come despite significant global challenges, including tariff realignments, freight disruptions and slowing demand. He attributed the strong performance to the resilience of Indian exporters, diversification of markets and the transformative reforms undertaken under the leadership of Honourable Prime Minister Shri Narendra Modi.

      The Minister announced a time-bound 90-Day Drive under the Districts as Export Hubs initiative covering 120 priority districts across 27 States and Union Territories. Supported by 24 DGFT Regional Authorities and 11 partner agencies, the drive will focus on measurable outcomes, including new exporter registrations and export value growth, while converging with the One District One Product initiative, GI products and MSME clusters.

      Highlighting the Government's support architecture for exporters, Shri Goyal placed the Export Promotion Mission, jointly implemented by the Ministries of Commerce, MSME and Finance with an outlay of over ₹25,000 crore, at the centre of MSME-led export growth. Through its two pillars, NIRYAT PROTSAHAN for trade finance and NIRYAT DISHA for market access, and eleven interventions covering credit, collateral, factoring, warehousing, freight, compliance, trade intelligence and Brand India, the Mission addresses the complete exporter journey.

      The Board reviewed presentations across key pillars of India's trade and industrial ecosystem. These included India's Free Trade Agreements, which have opened markets accounting for over USD 27 trillion in GDP; DGTR and its new SETU digital platform; the Government e-Marketplace (GeM), where procurement has crossed ₹5 lakh crore with 45 per cent benefiting MSMEs; DPIIT's startup ecosystem comprising more than 2.35 lakh startups and the Fund of Funds 2.0; the BHAVYA Industrial Parks Scheme with an outlay of ₹33,660 crore for development of 100 industrial parks; the Ministry of Textiles' Vision 2030 targeting USD 100 billion in exports; the data-centre ecosystem with nearly ₹7 lakh crore in announced investments; and electronics manufacturing, presented by Apple India Managing Director Mr. Virat Bhatia, highlighting Production Linked Incentive (PLI)-driven mobile phone production of approximately ₹6.25 lakh crore.

      The Minister described cross-border e-commerce as the lowest-barrier entry point for first-time exporters and urged States to leverage Dak Ghar Niryat Kendras so that every district emerges as an exporting district. Emphasising that import substitution and export promotion are complementary objectives in the pursuit of an Aatmanirbhar Bharat, he reaffirmed the Government's commitment to strengthening testing and certification infrastructure and highlighted significant opportunities in container manufacturing.

      During the meeting, Ministers and representatives from States and Union Territories shared State-specific experiences, best practices and perspectives on export promotion, while reaffirming their support for the Centre's initiatives to strengthen India's external trade. Representatives of Export Promotion Councils, apex chambers and industry associations also shared suggestions for enhancing India's export competitiveness.

      The Minister set a target of achieving USD 1 trillion in exports, comprising approximately USD 530 billion in merchandise exports and USD 470 billion in services exports. He described the target as ambitious but achievable through coordinated action by the Centre, States, industry and exporters.

      Calling for a stronger Centre-State partnership, Shri Goyal urged States to place exports firmly on their governance agenda, convene State Export Promotion Committees without delay, undertake monthly reviews of district-level export performance, address regulatory, taxation and infrastructure bottlenecks, and align State-level schemes with Central Government programmes to ensure seamless support for MSMEs.

      Shri Goyal expressed confidence that the combined efforts of the States, the dynamism of India's youth and the leadership of Honourable Prime Minister Shri Narendra Modi would accelerate the country's journey towards becoming a globally competitive, self-reliant and developed nation.

      The meeting was attended by Shri Bimal Borah (Assam), Ms Shreyasi Singh (Bihar), Shri Manjinder Singh Sirsa (Delhi), Shri Subhash Pal Desai (Goa), Shri Kamlesh Bhai Patel (Gujarat), Shri Rao Narbir Singh (Haryana), Shri Harshwardhan Chauhan (Himachal Pradesh), Shri Sanjay Prasad Yadav (Jharkhand), Shri Chetanya Kumar Kashyap (Madhya Pradesh), Shri P. U. F. Rodingliana (Mizoram), Shri Tshering Thendup Bhutia (Sikkim), Smt Hekani Jakhalu (Nagaland), Shri D. Sridhar Babu (Telangana), Shri Bharat Singh Chaudhary (Uttarakhand), Shri Nand Gopal Gupta (Uttar Pradesh) and Shri Tapas Roy (West Bengal).

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