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    India, US conclude two-day trade talks
    HP's Bilaspur identifies turmeric, garlic as key products for shipments under export hubs initiative
    Your Complete Guide to Getting an Instant Gold Loan in India
    National Traders’ Welfare Board Holds 10th Meeting in Hybrid Mode, Strengthening Digital Governance and Stakeholder Participation
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June 24, 2026
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Bilateral trade agreement talks advance as India and the United States review progress and seek to deepen economic partnership.
India and the United States concluded ministerial-level talks on the proposed first phase of the bilateral trade agreement, reviewing progress in ongoing trade negotiations and exploring avenues to deepen economic partnership. The talks were conducted within a time-sensitive schedule, with both sides seeking to finalise the first phase before the expiry of temporary tariffs imposed by the United States.
June 24, 2026
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Districts as Export Hubs initiative identifies turmeric and garlic as key export products, highlighting value addition and export promotion.
Turmeric and garlic were identified as the district's key export products under the Districts as Export Hubs initiative after review of export potential, agro-climatic suitability and market prospects. The District Export Promotion Committee considered the District Export Action Plan under the Foreign Trade Policy 2023 and noted that processing, packaging, branding and marketing could support value addition, improve farmers' income and expand export opportunities for local producers.
June 24, 2026
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Gold loan valuation and eligibility rules shape secured borrowing against pledged jewellery, coins, and ornaments.
Gold loans are secured loans against pledged gold jewellery, ornaments or coins, with the loan amount determined by the gold's weight, purity, prevailing rate and the lender's loan-to-value ratio. Eligibility is described as simple, with Indian citizens aged 21 to 80 able to apply, while gold of 18 to 22 karat purity, and gold coins up to 24 karat purity, is accepted. Valuation excludes decorative elements and uses the lower of the previous day's closing price and the 30-day average closing price from the relevant market source.
June 24, 2026
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Digital governance and trader welfare drive stakeholder participation, trade facilitation, export promotion and compliance simplification discussions.
The National Traders' Welfare Board held its 10th meeting in hybrid mode to strengthen stakeholder participation, digital governance and trader welfare measures. The Board reviewed trade facilitation initiatives, including the Rajasthan Trade Promotion Policy and DigiDukaan, and discussed issues such as GST rationalisation, compliance simplification, export promotion, logistics, digital commerce, access to credit, social security, licensing, dispute resolution and Centre-State coordination.
June 24, 2026
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Bilateral trade negotiations near an interim pact as tariff changes reshape market access, tariff concessions, and trade commitments.
Bilateral trade negotiations between India and the United States were reported to be nearing an interim trade pact aimed at reciprocal and mutually beneficial market access, with both sides seeking to conclude the first phase of the Bilateral Trade Agreement. The framework was affected by the temporary 10 per cent tariff imposed under Section 122 of the Trade Act and by a court ruling that altered the earlier tariff landscape, prompting both sides to revisit tariff reductions, market-access concessions, and related commitments. The article also noted wider trade engagement, including Section 301 investigations, energy cooperation, and proposed Indian purchases of United States goods.
June 23, 2026
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Fertiliser supply and MSP procurement demands shape Telangana's appeal for full seasonal support and better farm returns.
Telangana sought adequate fertiliser supplies for the kharif season, saying demand for DAP and urea had risen and asking the Centre to bridge the gap between quota and actual supply so the state receives its full requirement. The state also urged removal of the 25 per cent procurement limit for pulses and oilseeds at minimum support price, MSP procurement for maize and sorghum, and a higher import duty on crude palm oil to protect oil palm farmers from falling domestic prices.
June 23, 2026
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Foreign exchange law scrutiny over alleged benami share transactions, suspicious gold imports, and undeclared overseas investments.
Foreign exchange law scrutiny was initiated through searches at multiple premises linked to a gold refining and jewellery manufacturing company on the basis of suspected contraventions under FEMA. The enquiry concerns alleged multiple transactions in the company's shares through benamidars, possible siphoning of foreign exchange out of the country, a reported mismatch between declared and recorded gold inventory, and the use of purportedly fictitious gold imports and suspicious deliveries to set off trade receivables and payables. The investigation also extends to alleged investments in African gold mines that were not reflected in the books of subsidiary companies, and to dealings with foreign entities described as dubious in character.
June 23, 2026
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Bilateral trade agreement talks advance as India and the United States recalibrate tariff commitments and market access terms.
India and the United States held high-level trade talks to recalibrate a proposed bilateral trade agreement after changes in US tariff policy altered the earlier negotiating framework. The discussions focused on securing preferential tariff treatment, preserving market access, and giving final shape to the first phase of the Bilateral Trade Agreement, while addressing uncertainty created by the temporary tariff regime and its expiry timeline.
June 23, 2026
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Competition approval for share acquisition in data centre colocation services company through primary equity subscription.
Approval was granted for the acquisition of certain shareholding in Nxtra Data Limited by Alpha Wave Ventures II, LP through primary subscription of equity shares. The acquirer is a private equity fund managed by Alpha Wave Ventures GP, a joint venture between Alpha Wave Global and Lunate Holding RSC Ltd.
June 23, 2026
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Competition Commission approval for acquisition of voting interest in Astemo reflects corporate combination oversight and sector presence in India.
Competition Commission of India approval was granted for the acquisition of a 21% voting interest in Astemo, Ltd. by Honda Motor Co., Ltd. from Hitachi, Ltd. The proposed combination concerns Honda, a Japanese joint stock corporation and flagship company of the Honda Group, and Astemo, Ltd., a Japanese company jointly controlled by Honda, Hitachi, and JICC-01 Investment Business Limited Partnership. Both parties have business presence in India through automobile and two-wheeler manufacturing, automotive components, power products, and related research and development.
June 23, 2026
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Investor education and protection drive unclaimed asset recovery through awareness, streamlined claims, and coordinated financial inclusion efforts.
Investor education and protection initiatives were advanced through a panel discussion on "Aapki Poonji Aapka Adhikaar - Learning and Way Forward" and the launch of the book "Claiming the Unclaimed: Unlocking the Potential of Idle Financial Assets in India." The discussion focused on strengthening investor rights, improving awareness about unclaimed assets, streamlining claim processes, and promoting coordinated efforts among regulators, financial institutions, investor protection agencies, policymakers, and experts to support financial inclusion. IEPFA's agenda emphasised simplification of claim settlement, expansion of digital platforms, and wider investor awareness campaigns to help investors and their families reclaim rightful assets.
June 23, 2026
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Revenue audit compliance gaps expose unrealised liquor and transport collections, permit breaches, and enforcement failures.
Revenue audit findings on Kerala's liquor and transport sectors highlight significant arrears, compliance gaps and unrealised collections across excise, vehicle tax, transport regulation and related receipts. In the liquor sector, the audit notes unrecovered losses from shortage of Extra Neutral Alcohol, transit permit discrepancies for imported liquor suggesting possible diversion, and assessment lapses resulting in short levy or non-levy of taxes. In the transport sector, it points to non-functional testing infrastructure, vehicles operating with expired certificates, unlicensed aggregators, and permit violations leading to unrecovered fees and penalties.
June 23, 2026
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Foreign exchange and securities scrutiny deepens as searches target Rajesh Exports over alleged financial irregularities.
Enforcement action under the Foreign Exchange Management Act was reported against Rajesh Exports after market regulator scrutiny over alleged financial irregularities. Searches were conducted at premises linked to the company in Bengaluru and Mumbai. The scrutiny concerns an interim regulatory order alleging inflated consolidated revenues through overseas subsidiaries, particularly Valcambi SA in Switzerland. The regulator also restrained the company's Chairman and Managing Director from dealing in the company's securities until further orders.
June 23, 2026
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MSME credit access expands through digital lending, guarantee cover, and collateral-free finance measures.
Priority sector lending, collateral-free lending, guarantee cover, receivables discounting, simplified working capital norms, NBFC on-lending and co-lending recognition, the Account Aggregator framework, and restriction on pre-payment charges are described as measures expanding formal credit access for MSMEs. The remarks also note structured engagement through MSME town halls, capacity-building of bankers, and empowered committees to review MSME financing, stressed accounts, credit linkage, and credit application pendency. The Unified Lending Interface is presented as a consent-based digital mechanism for faster MSME credit assessment.
June 23, 2026
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Regional partnership between Gujarat and the West Midlands advances through UK-India Week's focus on investment, innovation and growth.
UK-India Week 2026 opened in the West Midlands through the IGF Smarter Regions Forum, focused on advancing the emerging regional partnership between Gujarat and the West Midlands. The programme is designed to convert UK-India engagement into practical collaboration across investment, innovation, skills, advanced manufacturing, clean energy, life sciences and regional growth, with discussions centred on strengthening a regional growth corridor through deeper cooperation in industry, trade-related collaboration, capital flows and technology partnerships.
June 23, 2026
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Pharmaceutical supply chain dependence drives calls for diversification, regulatory transparency and stronger innovation ecosystems in India.
India's pharmaceutical supply chain remains heavily dependent on Chinese imports for critical active pharmaceutical ingredients, key starting materials and intermediates. Rising environmental compliance requirements have increased manufacturing and research and development costs, while weak innovation and a limited commercialisation ecosystem create uncertainty for innovators and long-term investment. The report calls for diversification into higher-value pharmaceutical segments, greater regulatory transparency, and stronger industry-academia technology transfer to support patent commercialisation, research collaboration and startup incubation.
June 23, 2026
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Company law compendium traces Supreme Court jurisprudence across changing statutory frameworks and supports structured legal research.
Publication of the third edition of Supreme Court on Company Law compiles landmark Supreme Court decisions from 1950 to 2025 across the Companies Act, 1913, the Companies Act, 1956 and the Companies Act, 2013. The compendium provides concise headnotes stating the ratio decidendi, relevant paragraph references, and nominal, subject and section indices to enhance research utility and trace the development of company law jurisprudence.
June 23, 2026
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Bilateral trade agreement talks focus on tariff changes, interim commitments, and revised market-access terms between India and the United States.
High-level trade talks between India and the United States focused on reworking a proposed bilateral trade agreement after changes in US tariff policy altered the earlier framework. The discussions concerned an interim pact sought before expiry of the United States' temporary additional tariff regime, with both sides revisiting tariff commitments that had been built into the February framework and later affected by a Supreme Court ruling and subsequent tariff changes. The talks were also linked to broader efforts to strengthen economic ties and give final shape to the first phase of the Bilateral Trade Agreement.
June 23, 2026
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Bilateral trade agreement talks focus on tariff realignment, market access commitments, and a conditional framework for mutual adjustments.
Bilateral trade agreement talks between India and the United States centred on finalising the first phase of an interim framework for reciprocal and mutually beneficial trade, with both sides reviewing the earlier contours of the pact in light of changes in the United States tariff regime. The framework contemplated tariff reductions on Indian goods and wider market-access commitments by India, along with proposed Indian purchases of energy products, aircraft, precious metals, technology products and coking coal over a five-year period. The negotiations were being revisited to realign the first-phase agreement with the changed tariff structure.
June 23, 2026
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Money laundering investigation leads to searches over a private university's financial affairs under the Prevention of Money Laundering Act.
Enforcement Directorate searches were conducted in Madhya Pradesh and Chhattisgarh as part of a money laundering investigation concerning the financial affairs of a private university. About ten locations were searched under the Prevention of Money Laundering Act, and the inquiry was linked to an FIR registered by the Economic Offences Wing of the Madhya Pradesh Police.

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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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