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    Cabinet approves two multitracking projects covering Four Districts across Odisha and Jharkhand, increasing the existing network of Indian Railways by...
    Cabinet approves National Investment Policy for Urea-2026 for Atmanirbhar Bharat (NIPU-2026)
    Cabinet approves development of 6 lane Greenfield Elevated Corridor & Ramps/Loops & Foot Over Bridge between National Highway-19 and Varanasi Ring Roa...
    Cabinet approves development of 6/4 lane Elevated Corridor along Varuna River Bank & its Ramps/Loops in Uttar Pradesh on Hybrid Annuity Model at total...
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July 15, 2026
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Railway capacity augmentation strengthens multimodal connectivity, freight movement, operational reliability and lower-emission transport across Odisha and Jharkhand.
Railway capacity augmentation is approved through doubling of the Paradeep-Haridaspur route and construction of a fourth line on the Rajkharsawan-Dangoaposi route. The projects aim to reduce congestion, improve railway operational efficiency and reliability, and strengthen integrated multimodal connectivity. Enhanced capacity is intended to support freight transport of coal, iron ore, dolomite, limestone and gypsum, improve regional and tourist connectivity, promote logistics efficiency, and reduce oil imports and carbon emissions.
July 15, 2026
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Urea investment policy promotes gas-based domestic manufacturing through transparent cost treatment, return-on-equity parameters, and foreign-exchange risk mitigation.
NIPU-2026 provides a framework for investment in new gas-based urea manufacturing units to increase indigenous production and reduce reliance on imported urea. It separates fixed and variable costs for transparency, provides a prescribed return-on-equity band, and mitigates foreign-exchange exposure through conversion of fixed costs into Indian rupees after four years at prevailing exchange rates. The policy supports self-sufficiency through additional domestic urea manufacturing capacity.
July 15, 2026
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Greenfield elevated corridor development strengthens multimodal connectivity, urban decongestion, road safety and pilgrimage access through the Hybrid Annuity Model.
Development of a six-lane greenfield elevated connector corridor between National Highway-19 and the Varanasi Ring Road has been approved under the National Highways (Original) programme through the Hybrid Annuity Model. The access-controlled corridor includes elevated road infrastructure, bridges, loops, ramps, link roads and service roads, and is intended to divert through traffic from congested urban roads. Aligned with the PM Gati Shakti National Master Plan, it integrates road, rail, air and inland-water connectivity while improving access to logistics, religious, educational and cultural destinations.
July 15, 2026
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Hybrid annuity corridor development advances urban decongestion, multimodal connectivity, safer travel and efficient passenger and freight movement.
A predominantly elevated 6/4-lane link and connector corridor along the Varuna River Bank has been approved under the Hybrid Annuity Model. Comprising carriageways, flyovers, loops, ramps and service roads, it will connect NH-31 with the Varanasi Ring Road under the Varanasi Decongestion Plan. The corridor is intended to reduce congestion and travel time, improve safety and freight movement, and strengthen access to transport, economic, social and logistics nodes through multimodal integration.
July 15, 2026
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Personal loan disbursal incentives provide eligible borrowers reward bundles, subject to eligibility conditions, verification, assessment and applicable terms.
Personal loan disbursal incentive campaign offers eligible borrowers an entertainment and lifestyle voucher bundle upon successful disbursal during the specified promotional period. Reward availability is conditional on customer eligibility and applicable terms and conditions. The collateral-free, digitally processed credit facility involves eligibility-based approval, review of loan terms, KYC and bank-account verification, and application assessment before disbursal.
July 15, 2026
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Domestic-demand weakness slows China's economic growth despite export support from artificial-intelligence technology and electric-vehicle demand.
China's economic growth slowed in the second quarter amid weak domestic demand, property-market weakness, subdued consumer confidence and higher energy costs. Export demand, especially for artificial-intelligence technology and electric vehicles, supported foreign trade and industrial production, but underscored reliance on overseas demand. Property investment and new-home prices continued to decline, while youth unemployment remained elevated. Further support measures focused on new infrastructure could be considered as investment growth weakens and systemic risks require management.
July 15, 2026
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Mobile phone manufacturing incentives link eligible sales, domestic sourcing, design and research support to indigenous brands and expanded production.
The Mobile Phone Manufacturing Scheme establishes a five-year incentive-linked framework for manufacturing mobile phones in India. It provides differentiated incentive support on eligible sales, additional support for domestic sourcing of key components and sub-assemblies, and a further incentive for product design and research and development aimed at building Indian brands. The scheme seeks to expand domestic production and exports, promote technological sovereignty, create patents, support employment, and strengthen domestic value capture in mobile-phone manufacturing.
July 15, 2026
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Domestic urea investment policy supports new natural gas-based capacity through subsidy-cost separation, assured returns, and foreign-exchange risk mitigation.
National Investment Policy 2026 establishes an investment framework to add domestic natural gas-based urea production capacity and reduce import reliance. Extending the New Investment Policy 2012, it provides for separation of fixed and variable costs for subsidy calculation, assured returns for urea plant companies, and foreign-exchange risk mitigation to support investment in new domestic urea manufacturing capacity.
July 15, 2026
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India-UK free trade agreement expands zero-duty export access and reduces duties on specified United Kingdom goods.
The India-UK Comprehensive Economic and Trade Agreement entered into force with zero-duty market access for nearly all Indian exports to the United Kingdom. It is expected to support sectors including textiles, leather, gems and jewellery, engineering goods, marine products, chemicals and processed foods. A bilateral social security agreement has also become operational. The arrangement reduces Indian import duties on specified United Kingdom goods, including Scotch whisky and premium UK-built cars.
July 15, 2026
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Middle East energy export disruption risks raise oil prices and unsettle global equity markets amid renewed conflict.
Middle East energy-export disruption risks increased following renewed conflict and a threatened halt to regional oil and gas exports amid a blockade of Iranian ports. Concerns over the security of shipping through the Strait of Hormuz contributed to higher oil prices and reduced Gulf traffic flows, reflecting the potential for wider interruption of energy transportation. Global equity markets showed mixed movements as investors assessed escalating conflict, oil-supply disruption, inflation data and corporate earnings.
July 15, 2026
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Apricot export facilitation enables overseas market access through exporter-managed supply chains, cold-chain transport, and proposed local processing capacity.
Apricot export facilitation for Ladakh's indigenous Raktsey Karpo and Halman varieties is being implemented through an agreement under which exporters manage harvesting, sorting, grading, packing, transportation and marketing. Administrative measures include transport monitoring, expedited transit arrangements and cold-chain support for perishable produce. A proposed apricot processing unit is intended to improve value addition, address short shelf life and support smoother exports while reducing post-harvest losses.
July 15, 2026
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India-UK trade agreement expands market access, tariff reductions, services trade and professional mobility across identified commercial sectors.
The India-UK Comprehensive Economic and Trade Agreement entered into force as a free trade arrangement intended to expand bilateral market access and promote movement of goods and services. It provides for tariff reductions and supports trade, services and professional mobility. The agreement is expected to create opportunities for businesses, entrepreneurs, farmers, manufacturers, MSMEs and skilled workers, including in textiles, leather, gems and jewellery, engineering goods, marine products, chemicals and processed foods.
July 15, 2026
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Punitive tariffs for Russian oil purchases could make trade duties a geopolitical mechanism targeting India and other countries.
Proposed United States tariff legislation would impose punitive tariffs on India and other specified countries for purchasing oil from Russia. Certain European countries purchasing Russian gas would be exempted on the stated basis that their purchases are limited and that they are reducing dependence on Russia. If enacted, the measure would expressly authorise tariffs as a geopolitical mechanism directed at countries considered to be financing another nation's war effort.
July 15, 2026
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Strait of Hormuz transit rights remain contested as blockade measures, toll disputes, and hostilities threaten regional energy exports.
Maritime access through the Strait of Hormuz is disputed following the reimposition of a naval blockade, retaliatory threats affecting regional energy exports, and attacks on shipping routes. An interim arrangement had provided for toll-free transit during a limited negotiating period but left the later regulatory position unresolved. One side asserts a right to regulate traffic and potentially levy transit charges, while the opposing position maintains that passage should remain open without tolls. Continuing hostilities and stalled negotiations threaten navigational access and energy trade flows.
July 15, 2026
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Major banking shareholding acquisitions: draft directions propose simplified approval for subsequent investments by institutional fund categories.
Draft directions propose a simplified approval process for subsequent acquisitions of major shareholding or voting rights in banking companies by mutual funds, insurance companies and pension funds. The proposals cover commercial banks, small finance banks, payments banks and local area banks. Regulated entities, the public and other stakeholders may provide feedback through the Reserve Bank's online consultation facility or by email within the stated consultation period.
July 15, 2026
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Wholesale and producer price indices report rising June inflation, revisions to April estimates, and manufacturing input-price movements.
Provisional June 2026 and final April 2026 estimates are reported for the Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index under the base year 2022-23. Wholesale inflation increased year-on-year, driven principally by mineral oils, food articles, basic metals, and chemicals and chemical products. April WPI and Output PPI estimates were revised upward, while the April trial Input PPI was revised downward. The release also provides group-wise monthly and cumulative index data, weighted response rates for WPI estimates, and provisional and final data classifications.
July 15, 2026
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India-UK trade agreement operationalisation expands market access, tariff reductions, skilled mobility and social security support for enterprises and professionals.
The India-United Kingdom Comprehensive Economic and Trade Agreement is intended to facilitate greater two-way movement of goods and services through tariff reductions and stronger access to the UK market for farmers, entrepreneurs, MSMEs and other sectors. Together with the Agreement on Social Security, it is described as promoting cooperation in technology, professional services and innovation, supporting mobility for skilled Indian talent, and assisting Indian professionals temporarily working in the UK.
July 15, 2026
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Zero-duty market access under the India-UK trade pact expands opportunities for domestic goods, enterprises, professionals and skilled mobility.
The India-UK Comprehensive Economic and Trade Agreement has been operationalised, enabling a range of domestic goods to enter the UK market at zero customs duty and expanding market access for Indian farmers, entrepreneurs and micro, small and medium enterprises. A social security agreement has also entered into force to support Indian professionals temporarily working in the UK, improve enterprise competitiveness, and complement cooperation in technology, professional services, innovation and skilled-worker mobility.
July 15, 2026
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Accredited photovoltaic module testing strengthens reliability validation, safety qualification, and in-house product development under internationally recognised laboratory quality standards.
NABL accreditation under ISO/IEC 17025:2017 recognises a photovoltaic module laboratory's technical competence to conduct testing through accepted procedures, calibrated equipment, qualified personnel and quality-management controls. Its scope includes module design and safety qualification, degradation testing and high-temperature operating-condition assessment. Environmental, electrical and mechanical evaluations-including thermal cycling, damp heat, humidity freeze, UV exposure, mechanical loads, leakage current, insulation and power testing-support design verification, reliability analysis, manufacturing consistency and product development.
July 15, 2026
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Export-led growth exposes weak domestic demand as high-technology manufacturing support raises trade imbalance and employment concerns.
China's growth has become increasingly reliant on strong exports of high-technology manufactured products, while domestic consumption and investment remain weak. Household spending is constrained by the property-sector downturn and uncertainty over jobs and wages. Policy support and investment in artificial intelligence, robotics and advanced manufacturing have strengthened exports but raised concerns about trade imbalances, excess production capacity and employment creation. The policy direction identified is to strengthen the domestic market and maintain employment while pursuing higher-quality growth.

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Customs & Trade

Fearmongers wallowing in depths of despair after India successfully navigated energy crisis: PM Modi

July 4, 2026

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Pachpadra (Rajasthan), Jul 4 (PTI) India successfully navigated one of the biggest global energy crises of the century through proactive policies, diversified fuel sourcing and strong diplomatic ties, with "minimal burden" on citizens, while major countries struggled, Prime Minister Narendra Modi said on Saturday.

Some forces were busy spreading fear in public and political games were played, but "they must be wallowing in the depths of despair today", Modi said at a public meeting, asserting that the country's handling of the situation would be remembered as an "unprecedented" chapter in history.

"The war in West Asia created the biggest energy crisis of the 21st century. Many powerful nations struggled with fuel shortages. India overcame this challenge because it took the right decisions at the right time, assessed the situation correctly, used its resources in a balanced manner and utilised its diplomatic strength positively," he said.

Prime Minister Modi, who dedicated the country's first greenfield integrated refinery-cum-petrochemical complex to the nation in Rajasthan's Balotra area, lauded authorities for working tirelessly over the last two months to repair the project, where a major fire had occurred on April 20, forcing the postponement of its scheduled inauguration by the PM the next day.

On Friday, strong winds accompanied by rains damaged banners and hoardings at the refinery site ahead of the prime minister's visit and workers were engaged since Saturday morning for the repairs.

The prime minister said India has substantially expanded its refining capacity while several developed regions have failed to do so.

"The United States has not built a new refinery in the last 50 years. Europe's refining capacity has continuously declined. India has now become the world's fourth-largest country in refining capacity and this capacity will continue to grow," he said.

The prime minister spoke about how LPG production was maximised, PNG connections increased and energy imports were sourced from more than 40 countries to overcome the crisis and shield citizens in India from the worst impact of the crisis.

He said oil companies incurred losses of over Rs 75,000 crore between April and June due to rising global prices, but the government absorbed the burden.

"In several countries, diesel and petrol prices rose by 40 to 50 per cent and fuel was distributed through quotas. India did not witness such a situation even for a single day.

"Rumours were spread, people were frightened and political games were played, but those with wrong intentions did not succeed," he said, apparently attacking the Congress and other opposition parties.

He noted the government was working round the clock at the policy and diplomatic levels to tackle the crisis. Every sensitive decision taken during that period will one day become part of history. What India achieved during this crisis is unprecedented, he said.

"Those who wished to see India fail had even begun making predictions.. their malicious intentions did not succeed," he said.

Modi said nearly 70 per cent of India's LPG requirement was met through imports and about 90 per cent of those supplies came from Gulf countries through the Strait of Hormuz. The conflict had nearly halted those supplies.

He said the government immediately decided to maximise domestic refining capacity for LPG production.

"Industrial gas production was shifted in favour of LPG production. Within seven days, refinery output of LPG increased significantly. During the crisis, LPG production went up by 54,000 metric tonnes. Refineries that had never produced LPG earlier were also reconfigured," he said.

The government simultaneously ensured that PNG connections expanded rapidly so that domestic demand for LPG remained under control, Modi said.

"More than 11 lakh households were connected with PNG in a very short period. Domestic consumers were also protected from the burden of rising prices. Experts believed a domestic LPG cylinder could cost Rs 2,000. Today it is available at around Rs 950," he said.

He said commercial LPG prices were also reduced substantially. Referring to petroleum products, Modi said crude oil prices had surged from about USD 70 per barrel to USD 120 per barrel after the conflict escalated and supply routes were disrupted.

He said India expanded energy imports significantly during the West Asia crisis.

"When the crisis began, India was importing energy from about 25-26 countries. During the crisis, we increased this to more than 40 countries," he said, attributing the turnaround to India's diplomacy.

On oil companies incurring losses, he said, "We reduced excise duty by Rs 10 per litre and ensured that the burden on citizens did not increase significantly." The prime minister said the country has become the world's fourth-largest in refining capacity and continues to expand. He also credited his government's long-term policies with overcoming global disruptions in fuel and fertiliser supply caused by the war between Iran and the US-Israel combine.

Talking about the refinery project, he said an agreement for the Pachpadra refinery project had been signed in 2017, but work slowed considerably during the previous Congress government in Rajasthan between 2018 and 2023.

"Because of the Congress government's lack of cooperation, work on the project almost came to a standstill. After the double-engine government came to power, work gathered pace. Today we are dedicating the project to the nation. We not only lay foundation stones but also complete and inaugurate projects," he said.

The prime minister was speaking after dedicating and launching development projects worth around Rs 1.06 lakh crore.

Modi said global conflicts had also affected fertiliser supplies, particularly after the Ukraine war, but India managed the situation.

The prime minister said self-respect of an individual or a nation can remain high only when they are self-reliant.

He said the BJP governments do not simply lay foundation stones for projects and leave them. "We work day and night to ensure their completion," he said.

Modi also accused the Congress of neglecting the interests of Rajasthan and not resolving the water crisis.

He noted that Rajasthan and Haryana have signed an agreement to provide Yamuna water to Rajasthan's Shekhawati region.

"The agreement has been signed. It will benefit people in Sikar, Churu, Jhunjhunu and nearby areas. Around Rs 34,000 crore will be spent on this project," he said.

Rajasthan Governor Haribhau Bagade, CM Bhajanlal Sharma, Union petroleum and natural gas minister Hardeep Singh Puri, deputy chief ministers Diya Kumari and Prem Chand Bairwa, several ministers and other public representatives, officials and a large number of people were present in the programme. PTI AG SDA RT

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