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    How AlgoShack Sees Software Reliability Becoming the Foundation of India's AI Economy
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    DPIIT Amends Footwear Quality Control Orders to Enhance Ease of Doing Business and Strengthen Domestic Manufacturing
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July 10, 2026
Show AI Summary
Software reliability as AI infrastructure drives regulated deployment, compliance readiness, and scalable autonomous testing across high-stakes sectors.
Software reliability is presented as foundational infrastructure for India's AI economy, especially in regulated sectors such as healthcare and financial services. The text says unreliable software creates compliance, safety, and operational risks, while MedTech software is expected to align with IEC 62304 and ISO 14971 and financial services software with RBI-guided validation expectations. It also describes AI-augmented autonomous testing as a way to generate test cases from natural language, self-heal broken references, and improve coverage, cost efficiency, and deployment reliability.
July 10, 2026
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Personal loan interest rates and repayment tenure are shaped by credit profile, income, eligibility and repayment capacity.
Collateral-free personal loans are offered with interest rates determined by the applicant's credit profile, income, repayment capacity, employment stability, existing obligations, loan amount, tenure and overall eligibility assessment. The loan product provides borrowing amounts from Rs. 40,000 to Rs. 55 lakh, repayment tenure from 12 months up to 108 months, and disbursal within 24 hours after approval and verification, subject to terms and conditions.
July 10, 2026
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Rupee strength against the US dollar reflects weaker greenback, softer oil prices and bank-led support amid market volatility.
The rupee opened stronger against the US dollar in early interbank trade, supported by a weaker greenback, easing crude prices and a firm domestic equity market. Traders said dollar selling by state-run banks, widely viewed as intervention on behalf of the Reserve Bank of India, helped the currency move above the 95.50 level, while foreign institutional outflows and West Asia tensions continued to weigh on sentiment.
July 10, 2026
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Footwear quality control amendments extend stock clearance and permit limited R&D sample imports for manufacturers.
Amendments to the footwear Quality Control Orders extend the legacy stock clearance timeline from 31 July 2026 to 31 July 2027 and create an exemption for import of footwear samples for research and development and other non-commercial purposes. Manufacturers may import up to 4,500 pairs annually, subject to prominent marking and embossing with "NOT FOR SALE", prohibition on commercial sale, disposal as scrap after use, and maintenance of year-wise records for production to the Government when required.
July 9, 2026
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Cancellation of registered sale deed follows admission of unpaid consideration and no possession in disputed land transaction.
Cancellation of registered sale deed was ordered in a disputed land transaction, with the court declaring the conveyance void ab initio, inoperative from the beginning and of no legal effect. The court directed correction of registration records and held that the purchaser would have no right, title or interest in the property after cancellation. It recorded that execution was admitted, but consideration had not been paid and possession had never been delivered, while leaving open the possibility of refund of stamp duty if permissible under law.
July 9, 2026
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Artificial intelligence and forensic analytics are accelerating fraud restitution and complex money laundering investigations through better verification and tracing.
Artificial intelligence-assisted tools are being deployed to identify rightful claimants in large-scale fraud cases, automate claims and disbursement, and improve verification, speed, and accuracy in asset restitution. Modern forensic technology and data analytics are also being used in complex money laundering and cross-border financial crime investigations involving shell companies, nominee directors, benami property chains, cryptocurrency wallets, mule accounts, offshore entities, and interlinked trusts.
July 9, 2026
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Rupee volatility and Reserve Bank of India intervention shape currency trading amid stronger dollar and crude oil pressures.
The rupee appreciated marginally against the US dollar, supported by recovery in domestic equity markets and dollar selling by state-run banks, which market participants believed reflected Reserve Bank of India intervention. The currency remained pressured by firmer crude oil prices, a stronger greenback in overseas markets, and renewed geopolitical tensions in West Asia, with traders expecting elevated volatility to persist.
July 9, 2026
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AI-driven demand and backlog recovery shape TCS quarterly growth outlook amid margin pressure and strong deal wins.
TCS reported a rise in June-quarter net profit and revenue, while saying demand was sluggish because of geopolitical disruption and some client deferrals. Management expects demand to resume in the ongoing quarter as customers work through a technology backlog. The company also cited AI-related investments, strong deal conversion, wage-driven margin pressure, continued hiring and attrition trends, and growth in India revenues alongside weaker performance in some geographies and business segments.
July 9, 2026
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Act East policy positions Tripura as a gateway to Southeast Asia, boosting trade, investment and regional connectivity.
Tripura is described as emerging as a strategic gateway to Southeast Asia under the Act East policy, with the Northeast positioned as a growing engine of trade, investment and regional connectivity. The commentary highlights Tripura's location at the crossroads of connectivity and commerce, its access to the ASEAN market, and its readiness to attract long-term investment through expanding infrastructure and institutional support. The note also identifies sectoral opportunities arising from Tripura's strengths in bamboo and natural rubber, with potential for manufacturing, food processing, value addition, logistics, exports and technology-driven industries. Major connectivity and trade-enabling projects are presented as key initiatives supporting export access to Southeast Asia and the Bay of Bengal.
July 9, 2026
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Economic engagement and investment facilitation shape outreach to Chinese businesses as trade ties and pharmaceutical access are discussed.
Indian diplomatic outreach to Chinese businesses has focused on facilitating deeper economic and commercial engagement with India, including support for Chinese investment opportunities as bilateral relations move toward normalisation. The embassy has indicated willingness to help investors navigate entry into the Indian market, address concerns, and provide greater assistance for investment facilitation, alongside recent easing of restrictions on Chinese investments. Trade discussions have also emphasized expanding Indian pharmaceutical exports to China and improving market access for Indian manufacturers of generic medicines.
July 9, 2026
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Government spending restraint curbs public expenditure and travel as inflation and growth pressures test macroeconomic stability.
Bangladesh has introduced austerity measures to restrain government expenditure amid persistent inflation, slower growth and pressure on the banking system. The restrictions cover cuts in public spending, procurement of motor vehicles, air and water craft, and foreign travel by officials. The directive applies across ministries, agencies, autonomous bodies, state-owned enterprises, statutory organisations, public sector corporations, state-owned companies and financial institutions to ensure prudent use of limited public resources and support macroeconomic stability.
July 9, 2026
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AI-led transformation and strong deal wins drive TCS quarterly growth despite margin pressure and mixed geographic performance.
TCS reported higher quarterly net profit, revenue and net income for the June 2026 quarter, while operating margin declined due to wage hikes and fresh investments. The company said growth was supported by demand for AI-led transformation, modernisation, cybersecurity, sovereign cloud and platform simplification, and disclosed new deals with a total contract value of USD 9.5 billion, including a major AI-led transformation engagement.
July 9, 2026
Show AI Summary
MSME quality and market access get a boost through a joint certification, accreditation and digital commerce framework.
Quality Council of India and National Small Industries Corporation Limited entered into a Memorandum of Understanding to strengthen quality, competitiveness and market access for Micro, Small and Medium Enterprises through a unified support framework. The collaboration integrates ZED Certification, MSME Global Mart, the TEAM Initiative and the Single Point Registration Scheme to expand digital commerce access, export promotion, testing and accreditation support, and capacity-building for MSMEs and training institutions. A Joint Coordination Committee will oversee implementation during the five-year tenure of the MoU.
July 9, 2026
Show AI Summary
Grievance redressal performance improves as financial services divisions rank high and expand complaint review and transparency measures.
The Department of Financial Services has remained among the top 10 ministries and departments in grievance redressal rankings, with the Insurance Division securing 2nd rank in Group A for May 2026 and the Banking Division ranking 6th. The Department is also conducting direct review of selected grievances and workshops on an effective grievance redressal framework to improve complaint resolution, transparency, and customer trust.
July 9, 2026
Show AI Summary
Landlord consent requirement prevails over bank amalgamation in eviction disputes under rent control law.
Amalgamation of a tenant bank with another bank does not displace the requirement of written consent of the landlord under the Delhi Rent Control Act where the tenant has been assigned or has parted with possession of the premises. A banking scheme of amalgamation cannot override the rent control protection against subletting, assignment, or parting with possession without consent, and an involuntary merger does not confer immunity from the landlord-consent requirement.
July 9, 2026
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Valid service of summons on a foreign national requires due process, not deemed service at a relative's address.
Service of summons at an accused person's residence in India cannot be treated as valid or deemed service on his son who is a foreign national, is not an accused in the predicate offence or the money-laundering case, and has not resided at that address since 2017. The Enforcement Directorate was required to follow the procedure prescribed by law for serving a person living abroad, and service at the applicant's address was non est in law.
July 9, 2026
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Quarterly profit growth at TCS reflects rising revenues, stronger net income and continued employee expansion despite headwinds.
TCS reported a rise in quarterly net profit for the June 2026 quarter, with net profit, net income and revenues all showing year-on-year growth. The company also recorded a sequential increase in revenue from the previous quarter and added over 9,200 employees during the three-month period ending 30 June 2026.
July 9, 2026
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Special Economic Zone notification formalises semiconductor manufacturing and customs framework for export-oriented operations in Chhattisgarh.
The Government of India has notified a Special Economic Zone for the manufacture of semiconductors and electronic components at Mandir Hasaud, Nava Raipur, Atal Nagar, Chhattisgarh, covering 10.13 hectares comprising specified land parcels. The notification also constitutes the Approval Committee for the SEZ and appoints 6 July 2026 as the date from which the SEZ is to be deemed an Inland Container Depot under the Customs Act, 1962, establishing the customs and logistics framework for export-oriented operations.
July 9, 2026
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Rupee appreciation supported by RBI intervention, equity rebound and dollar selling despite crude and geopolitical pressure
The rupee appreciated modestly against the US dollar, supported by a rebound in domestic equities, dollar sales by state-run lenders and suspected RBI intervention. The currency moved within a narrow range before settling higher than the previous close, even as elevated crude oil prices, a stronger global dollar and heightened West Asia tensions continued to weigh on sentiment.
July 9, 2026
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Arbitration training and institutional dispute resolution take centre stage in IICA's expanded certified program.
The second batch of the Certified Arbitration Program was inaugurated as a flagship initiative aimed at building globally benchmarked arbitration professionals and strengthening institutional arbitration in India. The programme stresses enforceable arbitral awards, fairness of process, a code of conduct and sector-specific expertise as core elements of a robust arbitration ecosystem. It also reflects wider efforts to promote alternative dispute resolution, specialised training and practical arbitration skills through expanded module-based content and workshop-focused learning.

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Customs & Trade

A Swadeshi Blueprint for a Rs.3000 Trillion Bharat: The BGIF Story

July 14, 2026

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In just over a year since its founding, The Bharat Global Industries Forum (BGIF) has moved from an idea rooted in the Swadeshi Jagran Manch's vision of self-reliant industrial growth to a fast-expanding national platform — one now filing for trademark protection, opening state chapters across India, and brokering its first cross-border industrial partnership. Its own progress reports describe the mission in a single line: "From Vision to Action — Building Bharat as a Global Industrial Hub through Collaboration, Innovation, and Industrial Excellence."
BGIF describes itself not as a conventional trade body but as a "strategic think-and-action platform" — one built to bring India's leading industrialists, corporations, policymakers, global investors, technocrats, and innovators onto a single stage. Its stated objective is striking in scale: to help India grow from its current size of roughly ₹350 trillion to a ₹3000 trillion economy by 2047, establish the country as a global hub for manufacturing and exports, generate quality employment for its youth workforce, and position India as a global centre for research and development and a focal point of international trust and respect.


The Founders Behind the Forum
BGIF's founding leadership brings together an exceptional blend of industrialists, technologists, and policy experts, reflecting the forum's ambition to bridge industry, government, and global diplomacy.


Mr Sridhar Vembu, Founder and Chief Scientist of Zoho Corporation, serves as BGIF's Chief Patron. A Padma Shri awardee and one of India's leading technology entrepreneurs, Vembu is globally recognised for building Zoho into a world-class enterprise software company while championing rural entrepreneurship, decentralised innovation, and skill development.


Dr Amrit Sagar Mittal, Vice Chairman of the Sonalika Group, serves as BGIF's Chairman. A veteran industrialist with over four decades of experience, he has transformed Sonalika into India's third-largest tractor manufacturer with a presence in over 140 countries. His leadership in manufacturing innovation has earned him several honours, including the Rashtrapati Udyog Patra Award.


Mr Rajkumar Goel, Managing Director of SLR Metaliks, serves as Vice Chairman. He has led the development of a fully integrated alloy steel enterprise powered by renewable energy and is recognised for combining sustainable manufacturing with leadership principles inspired by Indian values of ethics, discipline, and resilience.


Dr Ashwin Johar, a founder member of BGIF, is a Central Committee Member of the BJP's Foreign Affairs Department and Chairman of the Sigma Group of Companies. An economist and policy strategist, he has played key roles in investment promotion, international relations, and regional economic development, including assignments with NITI Aayog and the Government of Haryana.


Rounding out the core leadership team are Mr Yogesh Mehta, Chairman of the Vyankatesh Group and a visionary in the manufacturing and export of ferro alloys, who serves as Secretary General and also holds positions as State Convenor of the BJP MP Economic Cell and President of the Association of Industries, Madhya Pradesh.


Mr Pankaj Hans, Managing Director of Competent Industries — a fast-growing Faridabad-based manufacturer of construction equipment and heavy engineering fabrication — who serves as Treasurer.
Dr Raj Kumar, Chairman of the United Group of Companies, with interests spanning food, textiles, automotive, and media, and a food scientist with two decades of global experience advising major FMCG corporations, who serves as a founder member.


Vikramjit Singh Sahney, a Rajya Sabha MP from Punjab, Padma Shri awardee, and Whole-time Director of Sun International Limited, who is also a founder member and Head of North region.


Dr Sidharath S. Sharma, who serves as Organization Secretary. A 24-year veteran of both the private and government sectors and an alumnus of IIM Kozhikode, Sharma currently serves as Advisor to the Department of Co-operation, Government of Haryana, having previously advised the Government of Punjab and held leadership roles across the insurance and financial sector.
The Executive Committee
Beyond its core leadership, BGIF's Executive Committee includes Members of Parliament and prominent industrialists, reflecting the forum's vision of connecting industry, policy, and national development.


Among them is Mr. Rajinder Gupta, Rajya Sabha MP from Punjab, Padma Shri awardee and Chairman Emeritus of the Trident Group, who built Trident from a small chemical unit into a global textile and paper conglomerate with revenues exceeding USD 2 billion and a workforce of over 17,500.


The committee also includes Mr. K. Vishweshwar Reddy, Lok Sabha MP from Telangana's Chevella constituency and founder of Citadel Research & Solutions, who is the only Indian parliamentarian to have been granted a US patent while serving as an MP.


Other members include Mr. B. Indrasen Reddy, founder of Four Solar Energy Systems and Managing Director of Energy Homes and Namaste Solar, with three decades of experience in renewable energy and technology-driven entrepreneurship.
Mr. Naresh Kumar, promoter of the Dynamic Group and a pioneer of India's private offshore drilling industry, who also has interests in mining and renewable energy and has served on the Executive Committee of the International Association of Drilling Contractors.
Mr. Madhuram Reddy, an industrialist recognised for his contributions to infrastructure, sustainable farming, and agricultural innovation.


The International Committee
To strengthen its global outreach, BGIF has established an International Committee comprising Indian-origin professionals based overseas. Members include Mr. Jitu Yadav (Dubai, UAE), Mr. Vikas Vashisht (Sydney, Australia), Dr Dame Neelam (Belarus), and Mr. B.K. Anand, a former Indian diplomat whose experience brings valuable expertise in international relations and diplomatic engagement. Together, this network gives BGIF a presence across three continents, reinforcing its strategy of building strong partnerships through the global Indian diaspora and international business communities.


A Growing Roster of Industry Members
Since its launch, BGIF has brought together leading companies from manufacturing, FMCG, steel, real estate, technology, and international trade. Its members include Zoho Corporation, Sonalika Tractors, SLR Metaliks, Haldiram's, Pioneer Group, Trident Group, Sun International, Supple Tek, Dynamic Group, Unity Builders, AMD Group, Ambika Steels, Arora Iron & Steel, Varuna International, SG Alloy & JD Alloy, RHI Magnesita, Reghuvamsi Group, Nano Wings, Altruist Tech, GB Realty and many more. This diverse membership reflects BGIF's commitment to uniting large Indian industries, Indian-origin multinational companies, and globally promoted Indian enterprises to foster industrial collaboration, attract investment, strengthen exports, and position Bharat as a global industrial hub.


Industry and Policy Expertise on Tap
BGIF distinguishes itself by combining corporate leadership with a strong network of industry experts, technocrats, and policy advisors, positioning itself as a bridge between business and government. The forum supports members through policy advocacy, sector-specific insights, regulatory guidance, and access to investment bankers for fundraising, deal structuring, and business expansion, offering a comprehensive platform for industrial growth.


Advocacy That Delivers, and a First Cross-Border Breakthrough
During the recent Middle East crisis, BGIF engaged with the Government of India to seek relief from freight overcharges imposed by shipping companies. The government accepted the demand, delivering tangible relief to industry.


BGIF was also invited by the Ministry of Finance for pre-Budget consultations ahead of the Union Budget, where its recommendations were well received.


Alongside this, BGIF notched its first cross-border achievement, facilitating an MoU between an Indian manufacturer and an overseas industrial partner to strengthen manufacturing cooperation and technology exchange — a template BGIF hopes to replicate with other countries ahead.


Driving the Expansion on Both Fronts
BGIF has rapidly expanded its presence through a chapter-based structure, with chapters already established in Punjab and Jammu & Kashmir and new chapters under formation in Delhi, Haryana, Madhya Pradesh, Rajasthan, and Gujarat. This domestic growth, aimed at connecting industry leaders, policymakers, investors, and innovators, has been coordinated by Founder Member & Organization Secretary Dr Sidharath Sharma. Alongside this, Founder Member Dr Ashwin Johar and Dr Sharma have jointly led BGIF’s international outreach across Australia, Russia, Sri Lanka, Belarus, the UAE, Singapore, and Saudi Arabia, helping secure the forum’s first international MoU and build a growing network that supports BGIF’s vision of positioning Bharat as a global industrial hub.


What Comes Next
BGIF's roadmap includes launching additional state chapters, forging new international partnerships, and organising industry-focused conclaves and policy dialogues to strengthen Bharat's position as a global industrial hub. Backed by a founding team with expertise in enterprise technology, tractor manufacturing, steel, ferro alloys, construction equipment, FMCG, and public policy, along with a rapidly growing membership base, BGIF continues to expand its domestic network and international collaborations. BGIF is positioning itself as one of the more ambitious new entrants in India's crowded field of industry associations — one explicitly built to operate at the intersection of Swadeshi economic philosophy and global industrial competitiveness.


For more information, please visit: https://www.bgif.in
(Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR

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