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    Cabinet okays new National Investment Policy to create 10 mn tons of fresh urea capacity
    India-UK trade pact 'new gold standard' of trade deals: UK High Commissioner Cameron
    World shares are mixed, oil prices climb as Iran threatens to block Middle East energy exports
    Raktsey Karpo, Halman apricots spearhead Ladakh's biggest export drive; LG pitches processing unit
    UK-India trade agreement significant milestone: Vice president
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    Tehran threatens to halt all Mideast energy exports after US reimposes its blockade on Iran
    RBI invites public comments on the draft “Reserve Bank of India (Acquisition and Holding of Shares or Voting Rights) Amendment Directions, 2026”
    PROVISIONAL ESTIMATES OF WHOLESALE PRICE INDEX, OUTPUT PRODUCER PRICE INDEX, AND TRIAL INPUT PRODUCER PRICE INDEX FOR THE MONTH OF JUNE 2026, AND FINA...
    PM hails operationalisation of India-UK CETA; says it will give fresh momentum to farmers, MSMEs
    India-UK trade pact comes into force
    Rayzon Solar Achieves NABL Accreditation for Its R&D Laboratory, Elevating Standards in Solar Manufacturing Excellence
    China's economy grew at 4.3% annual pace in 2nd quarter, slowest since late 2022
    Industry celebrates 'landmark' FTA entry into force to catalyse India-UK trade
    Stock markets rebound in early trade; Sensex jumps 553 points
    Rupee rises 5 paise to 96.11 against US dollar in early trade
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    PNB case: Nirav Modi's sister wants to record her statement via video conference
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    RBI guv asks banks to leverage advanced technologies
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    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.
    July 15, 2026
    Show AI Summary
    India-UK trade agreement enables tariff reductions, market access and digital trade facilitation for expanded cross-border commerce and investment.
    India-UK Comprehensive Economic and Trade Agreement (CETA) entered into force, establishing tariff reductions, expanded market access and greater certainty for cross-border trade and investment. Its 30 chapters cover trade in goods and services, sanitary and phytosanitary measures, technical barriers to trade, digital trade, intellectual property and government procurement. Trade-facilitation and digital provisions are intended to improve cross-border commerce, while the framework supports bilateral business, investment and collaboration across services, manufacturing, technology and healthcare sectors.
    July 15, 2026
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    Equity market rebound follows softer United States inflation, supporting expectations of a less aggressive Federal Reserve policy stance.
    Indian benchmark equity indices rebounded in early trading, supported by bank and selected large-cap shares after the preceding session's decline. Softer-than-expected United States consumer inflation strengthened expectations of a less aggressive Federal Reserve monetary-policy stance and supported global risk sentiment. Stronger United States equities, generally positive Asian markets, Brent crude movements and foreign institutional investor equity sales were identified as relevant market factors.
    July 15, 2026
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    Foreign exchange market conditions lifted the rupee early, but crude prices, investor outflows and geopolitical tensions restrained gains.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, while elevated crude oil prices, foreign institutional investor outflows, higher US Treasury yields and West Asia tensions limited gains. A weaker dollar and positive domestic equity-market opening provided support. Intensified US-Iran conflict and risks to regional energy exports contributed to higher crude prices and dollar demand. Higher wholesale price inflation and growth in net direct tax collection formed part of the domestic economic backdrop.
    July 15, 2026
    Show AI Summary
    Proposed geopolitical tariffs would target major purchasers of Russian oil, alongside broad sanctions on Russia's economic sectors.
    Proposed United States legislation would authorise tariffs of up to 100 per cent on India, China, Slovakia, Hungary and Azerbaijan as major purchasers of Russian oil. It also contemplates broad blocking sanctions affecting Russia's energy, financial and defence sectors and designated persons. The tariffs would be narrowly targeted and subject to restricted waiver authority, while certain European purchasers of Russian gas would be exempted based on limited dependence and efforts to reduce reliance on Russia.
    July 14, 2026
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    Video-conference statement request in PNB fraud case pending decision on approver plea, with prosecution reply sought
    Purvi Modi, an accused in the Punjab National Bank fraud case, has sought permission to record her statement before the special CBI court through video conference. She has applied to become an approver, and the CBI has stated that her statement should be recorded before that application is decided. The court has sought the prosecution's response. Purvi Modi and her husband have already become approvers in a related money-laundering investigation conducted by the Enforcement Directorate.
    July 14, 2026
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    Rupee depreciation reflects crude oil pressures, safe-haven dollar demand, widening trade deficit, and rising global economic uncertainty
    The Indian rupee depreciated against the US dollar amid higher crude oil prices, renewed geopolitical concerns, increased safe-haven demand for the dollar, and rising global bond yields. Higher crude prices increased India's dollar-denominated import requirements, widened the trade deficit, and intensified foreign-exchange outflows. Merchandise exports increased year-on-year, but the trade deficit widened because of stronger imports. Wholesale price inflation also rose, while net direct tax collections increased on account of higher corporate tax receipts.
    July 14, 2026
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    Advanced technology in banking requires cybersecurity, internal controls, fraud prevention, and safeguards against data misuse.
    Banks were encouraged to use advanced technologies, including artificial intelligence, to expand their reach, improve operational efficiency, reduce costs, and enhance customer experience. This approach must be supported by robust cybersecurity, strong internal controls, and safeguards against fraud and misuse of data. The banking sector was also urged to serve all segments of the economy prudently, strengthen customer service, and consider developments involving the Central KYC Records Registry, counterfeit currency detection, MuleHunter, central bank digital currency, the Unified Lending Interface, Account Aggregator, FX Retail, and Retail Direct.

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      Customs & Trade

      Tehran threatens to halt all Mideast energy exports after US reimposes its blockade on Iran

      July 15, 2026

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      Dubai, Jul 15 (AP) The US military reimposed a naval blockade on Iran and intensified its airstrike campaign early Wednesday, hitting an Iranian army barracks and killing at least seven troops while wounding 260 people across the country, Iranian officials said.

      Days of retaliatory strikes across the Middle East by Iran and the US, and both nations' attempts to assert control over the Strait of Hormuz, threaten to push the region back to all-out war.

      More than 30 people have been killed over “recent days,” Iranian government spokesperson Fatemeh Mohajerani said, without elaborating. Seven of the dead came from the attack on the barracks in Iran's southeastern Sistan and Baluchestan province.

      The US first imposed the blockade in mid-April and then lifted it in mid-June, a day after signing the interim deal that set a 60-day period for negotiations over issues like Iran's nuclear program, but talks have stalled as fighting over the strait, through which a fifth of the world's oil and natural gas trade passes during peacetime, has intensified.

      Iran's paramilitary Revolutionary Guard threatened on Wednesday to halt all energy exports from the Middle East over the blockade.

      “The export of oil and gas from the region will be either for everyone or for no one,” it said.

      When US President Donald Trump announced the return of the blockade on Monday, he also said he would impose a 20 per cent fee on ships passing through the strait. But he dropped the plan to collect fees hours before resuming the blockade, citing requests from allies in the Persian Gulf.

      Both the US and Iran launched attacks as the blockade was reimposed -------------------------------------------------------------------------------- The US carried out another wave of strikes as it reimposed the blockade, striking dozens of targets over seven hours, the US military's Central Command said Wednesday.

      Hossein Kermanpour, a spokesperson for the Health Ministry, gave Wednesday's casualty figure of over 260 people wounded, without specifying how many people had been killed. Kermanpour's figures reported far more people injured than in any other round of recent violence between Iran and the US.

      One strike targeted a barracks for Iran's 388th Mechanised Infantry Brigade in Bampour in Sistan and Baluchestan province, Iranian state television reported. The report said the Americans fired at least 13 missiles in the attack and that the dead included conscripts and career soldiers. A number of other troops were wounded.

      The army said it would make “a decisive response to this aggressive action by the American enemy,” state TV added.

      The 388th operates battle tanks and armoured vehicles.

      Missile alert warnings went out in Bahrain and Kuwait early Wednesday morning as they faced incoming Iranian fire, something that's been a daily occurrence, further straining a ceasefire in the war. Jordan also said it shot down three incoming Iranian missiles. Iran claimed attacks on the three nations.

      US Navy Adm. Brad Cooper, who leads Central Command, said in a statement that Iran had launched dozens of missiles and drones at neighbouring Gulf Arab countries.

      “US forces are holding Iran accountable for unwarranted aggression that continues to endanger innocent lives,” Cooper said.

      When the US and Israel launched the war on Iran on Feb. 28, Tehran effectively shut the Strait of Hormuz by attacking and threatening ships. That sent the price of oil, fertiliser, and other goods soaring.

      Iran has more recently attacked ships moving through the strait on a route near Oman overseen by the US military that is outside Tehran's control, setting off the recent violence. The US has threatened to reopen the strait by force — but experts say that would require a much bigger armada, if not tens of thousands of ground troops.

      Iran's ambassador to the United Nations, Amir Saeid Iravani, criticised America's ongoing attacks targeting his country.

      “The US is the aggressor, not the victim,” he wrote to the world body's leader, according to the state-run IRNA news agency.

      Trump says he's seeking Gulf investments instead of fees ------------------------------------------------------------------ Trump said Tuesday that he was called by the region's “kings and emirs,” who suggested an alternate arrangement to charging ships fees to pass through the strait, as the president proposed a day earlier.

      “They said we'd love to do it a different way. We'd love to invest in the United States with billions and billions of dollars,” Trump told reporters Tuesday in the Oval Office.

      Trump said he preferred that arrangement to charging tolls “because I don't think anybody should be able to charge a fee for the strait.” It was unclear if the investment deals would be new commitments relative to what Trump announced after a visit last year to the Middle East.

      Trump's plan to charge fees would have been a change to longstanding American policy and a departure from US promises that the strait would remain open to all without tolls.

      Trump told Fox News Channel on Tuesday night that more US strikes against Iran were coming over the next two days and that bridges and power plants could be targets by next week unless negotiations resume. Already, the US has struck at least one bridge.

      “You'd better make a deal, or you're not going to have anything left,” Trump warned.

      The interim peace deal is in peril --------------------------------------- Under the interim deal, Iran agreed that passage through the strait would remain free of charge for 60 days — but the agreement left open what would happen after. Iran asserts it has the right to manage traffic and potentially charge fees. The US has disputed that.

      The price for a barrel of Brent crude oil, the international standard, briefly topped USD 87 early Tuesday, still well below the nearly USD 120 reached at the height of the war. The price dipped to USD 78 in the aftermath of Trump's announcement that he had changed course, then went back up to USD 85 a barrel on Wednesday.

      Regional mediators, meanwhile, are still trying to get the United States and Iran back to the negotiating table. (AP) SKS SKS

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