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    Starmer leaves India-UK relations on strong footing for next UK PM, say experts
    Telangana pitches for 44 pc import duty on crude palm oil, exclusive RFCL urea allocation
    Day 3 of CJP sit-in at Jantar Mantar: Dipke steps up attack over NEET row; protesters stay put
    NABARD appoints G Ramesh Kumar as new CGM of Assam unit
    Adverse monsoon may pose headwinds for domestic growth, inflation outlook: RBI Bulletin
    Day 3 of CJP sit-in at Delhi's Jantar Mantar: Dipke steps up attack over NEET row
    Two-Day National Chintan Shivir on Environment-Related Trade Measures and FTAs Begins in New Delhi
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    Maharashtra govt tables Rs 97,706 cr supplementary demands; Rs 20,552 cr for farm loan waiver
    ED questions CMRL finance chief in Exalogic money laundering probe
    APEDA Facilitates First-Ever Export of Dried Whole Egg Powder from Odisha to Austria
    Participants of founding batch of Masters in Financial and Economic Crimes programme Visit EAC-PM; Quarterly Newsletter on Economic Security Launched
    Farmers invited to join CJP stir as Jantar Mantar protest heads into third day
    Kerala organ trafficking racket operated under guise of medical tourism co, says ED
    MP: ED conducts raids in 'fake' road construction bills case, freezes deposits worth about Rs 3 cr
    ED summons former Kerala CM’s daughter again in CMRL money laundering case
    ED attaches over Rs 1,000-cr assets in Goa 'illegal' iron ore mining case
    India boosts Russian, UAE oil purchases in Jun ahead of full Hormuz recovery
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    June 22, 2026
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    India-UK free trade agreement and strategic partnership remain on a strong footing after Starmer's resignation.
    India-UK relations are described as remaining on a strong footing following Keir Starmer's resignation, with British Indian experts stating that the UK-India Free Trade Agreement and the broader bilateral partnership are likely to continue under the next Labour leader. The commentary emphasises that Starmer is credited with signing the agreement, resetting ties with India, and placing the relationship on a stable platform for future growth in trade, business, technology, clean energy, skills and strategic cooperation.
    June 22, 2026
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    Agricultural supply stability and industrial infrastructure drives shape Telangana's demand for higher palm oil duty and exclusive urea allocation.
    Telangana urged restoration of the import duty on crude palm oil to 44 per cent and exclusive allocation of urea from the Ramagundam Fertilizers and Chemicals Limited plant to the state. The requests were framed around fertiliser supply stability and protection of oil palm farmers' livelihoods ahead of the kharif sowing season. The state also sought central support for industrial and logistics projects, including a logistics hub, plug-and-play industrial parks, an Aero-Defence Corridor, mega leather parks, and a Multi-Modal Logistics Park.
    June 22, 2026
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    NEET paper-leak controversy drives a sustained sit-in protest demanding accountability and education system reforms.
    A sit-in protest at Jantar Mantar continued for the third consecutive day over alleged NEET examination irregularities and the paper-leak controversy, with demonstrators demanding accountability and the resignation of the Education Minister. Protesters said students were being penalised for minor delays or for circumstances arising from the cancelled examination, while those allegedly involved in the leak had not been held to account. The agitation was maintained amid police deployment, and candles were lit in memory of students said to have died by suicide following the controversy.
    June 22, 2026
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    Banking leadership appointment at NABARD brings an experienced executive to head its Assam unit with immediate effect.
    NABARD appointed G Ramesh Kumar as Chief General Manager of its Assam unit with immediate effect, replacing Loken Das. He has over 30 years of experience in banking and finance, including rural and development banking, project and corporate debt financing, and prior leadership roles within NABARD and its subsidiaries.
    June 22, 2026
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    Growth and inflation outlook face monsoon and geopolitical risks, while the Indian economy remains supported by strong fundamentals.
    Adverse south-west monsoon conditions may create headwinds for domestic growth and the inflation outlook, while the global economic landscape remains fragile amid continuing geopolitical tensions and trade disruptions. A breakdown of the interim West Asia peace arrangement could revive risks relating to inflationary expectations, energy infrastructure, investment spending, food security, financial stability, and structurally lower growth. The Indian economy is described as having stronger fundamentals, with growth supported by private consumption and fixed investment, anchored inflation, and a resilient external sector.
    June 22, 2026
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    Accountability in the NEET paper leak controversy drives continued sit-in protest and demands for examination reforms.
    Demand for accountability in the NEET examination controversy continued at Jantar Mantar as the CJP held a sit-in protest over alleged paper leak, examination irregularities and the cancellation of the test. Protesters, including some NEET aspirants who took the re-examination, said they were mentally distressed by having to prepare and sit for the exam again after the earlier cancellation. The protest centred on criticism of the government's handling of late-arriving students, alleged inaction over the paper leak, and calls for the resignation of the Education Minister and reforms in the examination system.
    June 22, 2026
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    Environmental trade measures shape WTO and FTA discussions on export competitiveness, market access, and sustainable trade practices.
    A two-day National Workshop/Chintan Shivir examines environment-related non-tariff measures and their implications for WTO rules and India's free trade agreements. The deliberations focus on the growing use of environmental and climate-linked trade measures, their impact on Indian exports and export competitiveness, and strategic responses that preserve market access while supporting sustainable trade practices. The workshop covers Technical Barriers to Trade, sustainability-related non-tariff measures, and carbon- and deforestation-related trade measures.
    June 22, 2026
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    GST refund delays deepen working capital stress for bicycle manufacturers seeking faster, transparent processing.
    Punjab bicycle manufacturers have sought immediate release of pending GST refunds, saying delays in processing refund claims have created severe working capital and liquidity stress. They said higher GST on inputs than on bicycles has blocked substantial funds, and urged a fully faceless and online refund mechanism to improve transparency and reduce corruption.
    June 22, 2026
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    Trade exhibition platform boosts Indian manufacturing, export opportunities and global buyer engagement across the building materials sector.
    Bharat Buildcon 2026 served as a major trade exhibition for the building materials, construction and infrastructure sectors, bringing together manufacturers, exporters, architects, builders, developers, contractors, distributors, retailers and global buyers on a single platform. The event showcased Indian manufacturing capabilities across multiple product categories and created opportunities for domestic and international business engagement. It also enabled Indian MSMEs and emerging manufacturers to connect with overseas buyers, distributors and sourcing partners, supporting export exploration, market expansion and broader global access.
    June 22, 2026
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    Unsecured personal loans with EMI calculator help borrowers compare tenures, estimate repayments, and plan budgets flexibly.
    Bajaj Finance Personal Loan is described as an unsecured, collateral-free borrowing option with repayment tenures from 12 months up to 108 months, interest rates based on borrower profile, and a fully online application process with minimal documentation. A personal loan calculator helps borrowers estimate EMIs and total repayment amounts by comparing loan amount, tenure, and interest rate, enabling budget planning and repayment assessment before applying.
    June 22, 2026
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    Supplementary budget demands expand funding for farm loan waiver, welfare schemes, utilities and infrastructure.
    Supplementary demands were tabled for the Maharashtra government, covering additional spending across unavoidable expenditure, programme-related spending and centrally supported schemes, with the net burden reduced after adjustments and recoveries. The largest proposed outlay was for the farm loan waiver scheme, alongside provisions for interest-free loans, electricity sector liabilities, urban development, employment missions, irrigation, welfare pensions, scholarship support and other public programmes.
    June 22, 2026
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    Money laundering inquiry over alleged payments without services and related loan transactions between CMRL and Exalogic Solutions.
    Money laundering inquiry concerns alleged financial transactions between Cochin Minerals and Rutile Ltd. and Exalogic Solutions Pvt Ltd, including allegations that payments were made without corresponding services and that related loan transactions generated proceeds of crime. The Enforcement Directorate questioned the Chief Finance Officer of CMRL in connection with record-keeping of the transactions and indicated that other senior company officials would also be summoned. The agency further directed Veena to appear for another round of questioning.
    June 22, 2026
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    Export of value-added egg powder highlights APEDA support, food safety compliance and expanding processed food trade.
    APEDA facilitated the first-ever commercial export of dried whole egg powder from Balangir, Odisha, to Austria, highlighting the export potential of India's value-added poultry products and processed egg products. The APEDA-registered exporter established an egg processing facility aligned with national and international food safety and quality requirements, including EIC standards and European Union hygiene requirements, and held FSSC 22000 Version 6, HALAL and KOSHER certifications. APEDA also supported processing infrastructure, food safety systems and laboratory testing capabilities to strengthen export competitiveness.
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    Financial and economic crime policy discussions emphasised the growing sophistication of financial frauds, money laundering, illicit financial flows and cyber-enabled financial crime, together with the need for technology-driven, collaborative and multidisciplinary responses. The interaction also highlighted the importance of strengthening institutional capability, enhancing regulatory coordination, promoting evidence-based policymaking and building resilience in the financial system to safeguard economic interests. The founding batch of the Master's in Financial and Economic Crimes programme visited the Economic Advisory Council to the Prime Minister as part of a Campus Immersion Programme and engaged with policymakers on economic security and emerging threats to India's financial ecosystem.
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    Examination irregularities protest at Jantar Mantar grows as organisers press for accountability, solidarity and ministerial resignation.
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    Organ trafficking through fake medical tourism and forged donor records triggered money-laundering investigation and account freezes.
    Enforcement Directorate investigation under the Prevention of Money Laundering Act concerns an alleged organ trafficking racket in Kerala that operated through a front medical tourism company and exploited financially distressed donors. The alleged network was said to involve forgery, cheating, criminal conspiracy and illegal organ trafficking under the guise of altruistic organ donation, with forged records, transplant-related documents, searches, seizures, account freezing and examination of properties and financial trails to trace the proceeds of crime.
    June 21, 2026
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    Fake road construction bills trigger money laundering probe linked to forged invoices and alleged wrongful government payments.
    Enforcement Directorate action under the Prevention of Money Laundering Act was taken on the basis of FIRs registered by the Economic Offences Wing concerning alleged submission of fake bills in road construction works of the Madhya Pradesh Rural Road Development Authority. Contractors were said to have conspired with project implementation unit officials and fraudulently obtained government payments by using forged and fabricated invoices purportedly issued in the names of oil companies.
    June 21, 2026
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    Money laundering probe over alleged CMRL payments and related loans leads to fresh notice for questioning.
    Fresh notice was issued to Veena T for appearance in a money-laundering inquiry under the Prevention of Money Laundering Act concerning alleged transactions between Cochin Minerals and Rutile Ltd (CMRL) and her now-defunct IT company, Exalogic Solutions Pvt Ltd. The probe concerns allegations that CMRL made payments to Exalogic without corresponding services and that related loans were extended despite alleged default, with the Enforcement Directorate alleging that these transactions generated proceeds of crime.
    June 21, 2026
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    Prevention of Money Laundering Act attachment targets alleged illegal iron ore mining proceeds routed through offshore entities and assets.
    Provisional attachment under the Prevention of Money Laundering Act was issued in an alleged illegal iron ore mining case involving the Salgaocar Groups and associates in Goa. The attachment covered immovable properties in India and Singapore, along with equity shares in connected entities, on the basis that the assets were linked to proceeds generated from alleged unlawful mining, sale and export of iron ore. The alleged laundering route involved layering through BVI and Singapore-based special purpose vehicles, acquisition of overseas assets, and partial routing of funds back into India as share capital.
    June 21, 2026
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    Crude supply diversification drives India's higher Russian and UAE oil purchases as Hormuz flows slowly normalise.
    India increased crude oil purchases from Russia and the United Arab Emirates in June as refiners sought to secure supplies ahead of the fuller restoration of traffic through the Strait of Hormuz. Russian crude remained the largest source of supply, supported by competitive discounts and steady refinery demand, while India also raised purchases from Atlantic Basin and Venezuelan sources to diversify amid disruption to Gulf flows. The reopening of the Strait of Hormuz is expected to normalise energy shipments in stages, with LPG recovering first, followed by LNG and crude oil.

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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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