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July 15, 2026
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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
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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.
July 14, 2026
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Textile investment opportunities: Punjab promotes integrated value chains, single-window approvals, infrastructure, and export-focused industrial growth.
Punjab's industrial policy aims to attract textile investment, expand employment and exports, and provide an industry-friendly environment through time-bound approvals, single-window and single-pen systems, and reduced bureaucratic obstacles. Punjab is promoted as having a complete textile value chain covering cotton cultivation, spinning, yarn, fabrics, knitting, processing, garments, manufacturing and exports. Its investment ecosystem is described as offering power tariffs, land facilities, transparent approvals, infrastructure and the Right to Business Act, while industry participation is encouraged to strengthen innovation, exports and inclusive economic growth.
July 14, 2026
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Betting proceeds laundering allegations link layered transactions and asset acquisitions to the Mahadev online betting syndicate investigation
The Enforcement Directorate arrested Ebix Group chairman Vikas Garg under the Prevention of Money Laundering Act in an investigation concerning alleged laundering of proceeds from Mahadev Online Book and Skyexchange betting operations. The agency alleges that betting proceeds were routed through hawala entries, shell entities and layered transactions into entities owned or controlled by Garg, and used to acquire shares, securities and other assets. It further alleges that Garg acquired a controlling stake in EbixCash using such funds. The investigation concerns a franchise-based betting syndicate operating through multiple online platforms.
July 14, 2026
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Corporate tax growth strengthens direct tax collections, reflecting resilient profitability, advance tax payments, and improving compliance
Net direct tax collections rose by 16.40 per cent to over Rs 6.51 lakh crore up to July 13, driven mainly by a 22 per cent increase in net corporate tax collections. Net non-corporate tax collections also increased, while Securities Transaction Tax collections grew by 48 per cent. Gross direct tax collections rose by 16.11 per cent, and refunds increased by 14.57 per cent. The collection trend was associated with resilient corporate profitability, stronger corporate advance tax payments, continued compliance and increasing formalisation.
July 14, 2026
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PMLA territorial jurisdiction in homebuyer fraud permits concurrent forum competence where alleged proceeds were acquired and concealed across locations
Money-laundering proceedings arising from alleged cheating of homebuyers in a Gurugram real-estate project were transferred to the Special PMLA Court at Saket, Delhi, with prosecution continuing from its existing stage. The jurisdictional issue involved alleged acquisition of proceeds of crime at Gurugram and concealment of attached proceeds in Delhi, creating simultaneous jurisdiction for the PMLA courts at both locations. The underlying allegations include collection of funds before project licensing, fraudulent bookings, diversion of project funds, undervalued land transfers during insolvency, and diversion of public-sector bank loans.
July 14, 2026
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Forced-labour import ban strengthens trade controls, with DGFT inquiry procedures and government power to restrict identified goods.
The Foreign Trade Policy, 2023 prohibits the import of goods produced or manufactured, wholly or partly, through forced labour. The central government may prohibit specific goods where an inquiry or other relevant evidence indicates forced-labour production. The Directorate General of Foreign Trade will conduct inquiries under the procedure prescribed in the Handbook of Procedures, 2023. Forced labour is defined by reference to the ILO Forced Labour Convention, 1930, as work or service exacted under threat of penalty without voluntary offer by the person concerned.
July 14, 2026
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Police leadership reshuffle strengthens economic-offences investigations and reallocates senior officers across intelligence, security, and district policing
West Bengal reorganised its police leadership by transferring 28 IPS officers and five WBPS officers across investigative, intelligence, telecommunications, correctional, traffic, cyber and district-policing assignments. N R Babu became head of the Criminal Investigation Department while retaining additional charge of prisons, and Supratim Sarkar moved from the CID to Telecommunications. K Jayraman was appointed Director of the Directorate of Economic Offences in the context of the government's stated focus on alleged financial irregularities. Other changes included new leadership for the Special Task Force, Intelligence Branch, Bidhannagar Police, the Narayani Battalion and several districts, including revised postings in Baruipur following serious criminal incidents.
July 14, 2026
Show AI Summary
Industrial collaboration platform combines policy advocacy, regulatory guidance and cross-border manufacturing partnerships to advance India's global industrial ambitions
BGIF is presented as a Swadeshi-oriented industrial collaboration and policy platform connecting businesses, policymakers, investors, technocrats and innovators. Its functions include policy advocacy, regulatory guidance, sector-specific insights, investment access, fundraising support, deal structuring and business expansion. The forum operates through domestic chapters and an international network, and reports engaging in freight-related policy advocacy, participating in pre-Budget consultations, and facilitating a memorandum of understanding between an Indian manufacturer and an overseas partner for manufacturing cooperation and technology exchange. Its roadmap includes further chapters, international partnerships, industry conclaves and policy dialogues.
July 14, 2026
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Integrated agricultural trade hub near Vadhvan Port aims to strengthen exports through cold chains, logistics, and transparent trading
Maharashtra has approved an international-standard agricultural market at Dapchari in Palghar district near the upcoming Vadhvan Port. Developed by the Maharashtra State Agricultural Marketing Board, the project will combine an international market, a market of national importance and Agricultural Produce Market Committees. Planned infrastructure includes wholesale and import-export facilities, cold chains, grading and packaging units, multimodal logistics, warehouses, testing laboratories, container terminals, railway siding, e-auctions and an export facilitation centre. The project aims to support transparent trading, post-harvest value addition, reduced losses and improved agricultural exports.
July 14, 2026
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Bilateral trade expansion with China coincides with a widening deficit, as India seeks greater market access and investment
Bilateral trade between India and China increased in the first half of 2026, while the trade imbalance widened in China's favour. Chinese exports included electronics, telecommunications equipment, semiconductors, batteries, machinery, computers, chemicals, plastics and polymers. Indian exports included minerals, refined fuels, chemicals, electronics, agricultural and marine products, metals, gems, jewellery and pharmaceuticals. India continues to seek improved Chinese market access for information technology, pharmaceutical and agricultural products, alongside greater Chinese investment in India. Discussions also focus on expanding the range of traded goods and applying consumer-protection mechanisms while enabling increased Indian exports.
July 14, 2026
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Language-policy challenges and religious-practice arrangements highlight legal developments alongside deportation reform and criminal investigation measures.
The Supreme Court sought responses on challenges to the CBSE three-language requirement for Class 9 students and directed that Muslims be provided a separate open space adjacent to the disputed Bhojshala site for Friday prayers. A special NIA court issued a non-bailable warrant against Hafiz Saeed in connection with an investigation into the Pahalgam terror attack. The United Kingdom initiated a legislative change intended to remove an obstacle to deporting a grooming-gang leader to Pakistan.
July 14, 2026
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India-Maldives FTA negotiations advance market access, investment facilitation and broader economic cooperation through eight technical sessions
The first round of India-Maldives Free Trade Agreement negotiations concluded after virtual, text-based discussions across eight technical sessions and eight policy areas. The parties made substantive progress and reached broad convergence on several issues. The proposed FTA is intended to enhance market access, facilitate investment, promote economic cooperation and support sustainable economic growth. Both sides are pursuing a broad-based, balanced and comprehensive agreement guided by fairness and reciprocity, while also seeking deeper cooperation in tourism, startups, digital payments, MSMEs and trade.
July 14, 2026
Show AI Summary
Business excellence recognition highlights Explore Touristhub Holidays LLP's personalized travel planning, service quality, and customer-focused holiday experiences.
Explore Touristhub Holidays LLP received recognition as a leading travel agency for memorable holiday experiences. The recognition highlighted its personalized holiday planning, customer satisfaction, itinerary innovation, and contribution to India's travel and tourism sector. The company provides leisure holidays, corporate travel management, MICE services, educational tours, group departures, honeymoon packages, pilgrimage tours, and customized travel experiences. Its service approach emphasizes tailored itineraries, quality hospitality, safety, seamless execution, competitive pricing, reliable support, and assistance throughout the journey.
July 14, 2026
Show AI Summary
Rupee depreciation reflects crude oil pressures, geopolitical uncertainty, safe-haven dollar demand, widening trade deficit, and rising inflation
The rupee depreciated against the US dollar amid higher crude oil prices, renewed geopolitical concerns and increased demand for safe-haven dollar assets. Rising crude prices increased India's dollar-denominated import burden and contributed to foreign exchange outflows and pressure on the domestic currency. India's exports increased year-on-year in June, but the trade deficit widened as imports, particularly crude oil imports, rose. Wholesale price inflation also increased, while net direct tax collections recorded year-on-year growth, primarily reflecting higher corporate tax collections.

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ISTITUTO MARANGONI MUMBAI PRESENTS ITS 2026 STUDENT SHOWCASE — ‘ASTITVA’

July 23, 2026

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Mumbai, July, 2026: On Saturday evening, 18th July 2026, Istituto Marangoni Mumbai, the renowned Italian fashion and design school, unveiled 'Astitva’, its annual student showcase featuring the work of its second-year Fashion Design students. More than a fashion presentation, the showcase brought together deeply personal narratives expressed through contemporary fashion, celebrating the journeys, experiences and perspectives that shape each designer's creative voice.

Derived from the Sanskrit word meaning identity or existence, ‘Astitva’ invited audiences to reflect on the many influences that define who we are. Through nine distinctive collections, students explored themes ranging from memory and family to resilience, grief, heritage and transformation, demonstrating how fashion can become a powerful medium for personal storytelling.

Inspired by Mumbai — a city where cultures, traditions and aspirations coexist — the showcase reflected the dialogue between heritage and modernity, intimacy and ambition. This year’s runway installation echoed that spirit, juxtaposing raw industrial materials with reflective surfaces and sculptural lighting to create an immersive environment where fashion, architecture and emotion converged.

“With Astitva, our students have demonstrated that great design begins with authenticity,” said Mr. Tarun Pandey, COO — Istituto Marangoni, Mumbai. “This year's showcase is a celebration of identity, not as something fixed, but as something continually shaped by memory, culture, lived experience and transformation. Each collection reflects a deeply personal journey while speaking to universal ideas of belonging, resilience and self-discovery. At Istituto Marangoni Mumbai, we encourage our students to look inward before they look outward, because the strongest creative voices are those rooted in individuality. As they graduate into an increasingly global fashion landscape, Astitva is a testament to their ability to translate personal narratives into contemporary design with confidence, purpose and originality” he added.

The collections showcased at Astitva reflected the culmination of each student's creative evolution at Istituto Marangoni Mumbai, nine emerging designers unveiled three looks each, translating deeply personal narratives into distinctive contemporary fashion expressions. Rooted in themes of identity, belonging and transformation, the showcase celebrated not only technical excellence and creative innovation, but also the emergence of a new generation of designers ready to contribute to the global fashion conversation.

The students who showcased their collections at ‘Astitva’ were [in alphabetical order]: 1. Anshika Yadav [Ecdysis]: The collection explores transformation through the symbolic journey of a bird, tracing five stages—origin, expectation, conflict, struggle and liberation. As the bird evolves from nest to flight, it becomes a metaphor for human growth, resilience and the pursuit of self-definition.

2. Anushka Puranik [Anchors of Immanence]: The collection explores how family remains as anchor despite physical distance. Inspired by the balance between isolation and support, it translates their presence into life-sustaining elements of nature. Structured silhouettes and layered forms reflect a deeply personal journey of finding strength, stability and belonging, even from afar.

3. Diya Gupta [Unfinished Rooms]: Inspired by the designer’s childhood room, Unfinished Rooms explores how the spaces we grow up in continue to shape us. Though the room remains unchanged, she has evolved within it. The collection reflects a journey of quiet growth, self-discovery and becoming—where unfinished is not incomplete, but a state of continual transformation.

4. Drishti Bachwani [Alexithymia]: Inspired by the psychological condition that makes it difficult to identify and express emotions. It reflects her experience of carrying countless thoughts and feelings that rarely find words. Through this collection, the designer explores the disconnect between what she feels and what she shows—a deeply personal expression of everything I've kept inside.

5. Natalia Kumar [Inheritance Adorned]: Inspired by Indian jewellery and precious gemstones, Inheritance Adorned traces the evolution of adornment through five acts—from innocence to quiet radiance. Rooted in the bridal world, each ensemble explores how ornament transforms into an expression of identity, memory and personal evolution.

6. Paarvi Khullar [Learning to Breathe Again]: The collection draws from the designer’s journey through anxiety, self-doubt and emotional loss over the past two years. Inspired by the feeling of holding everything in, it traces a gradual path towards healing, vulnerability and self-acceptance.

7. Pallavi Singh [REVIVE]: Inspired by the resilience of Kutch after the 2001 Bhuj earthquake, REVIVE celebrates the revival of Bhujodi weaving, Ajrakh block printing and Kumaoni hand-knitting. Reimagined through contemporary winter wear, the collection honours India's living craft traditions and the communities whose determination continues to preserve them.

8. Tarini Kakar [La Révolution]: Inspired by the phrase, “From dust you are and to dust you shall return,” La Révolution explores transformation as a continuous cycle of creation, rupture, renewal and transcendence. Through evolving forms and textures, the collection celebrates impermanence, not as loss, but as an essential passage towards resilience, beauty and becoming.

9. Vanya Gupta [Fleeting Grief]: The collection explores the lasting impact of losing her mother to cancer at sixteen. Through light, fluid silhouettes and a muted palette, it traces a journey from grief to acceptance, transforming a deeply personal experience into a story of resilience, healing and becoming.

Talking about this year's showcase, Kristian Steinberg, Director of Education — Istituto Marangoni Mumbai, said, "At Istituto Marangoni Mumbai, we encourage our students to embrace their own stories and cultural identities as the foundation of their creative practice. ‘Astitva’ reflects that philosophy beautifully, with each collection demonstrating how personal experiences can be transformed into contemporary fashion that is both locally rooted and globally relevant." Pallavi Singh was awarded Istituto Marangoni Mumbai’s ‘The Designer of the Year 2026’ for her ‘REVIVE’ collection that she showcased at the event.

Additionally, this year for the first time, Istituto Marangoni Mumbai conferred Anushka Puranik with the ‘The Sustainability Award 2026’ for her collection, ‘Anchors of Immanence’, which explores the enduring value of craftsmanship, conscious creation, heirloom design, and mindful luxury.

The excellent reputation enjoyed by the school lies in the distinctive elements that have marked its identity since its foundation; first of all, the enhancement and promotion of ‘Made in Italy’ values, combined with a strong international vocation, and expressed through an educational system of proven quality and effectiveness, which makes use of the contribution of, and the established collaboration with, the most prominent fashion companies of the world.

Appreciations: • Show Creative Direction: Kristian Steinberg, Director of Education, Istituto Marangoni, Mumbai.

• Studio: Lianne Trowbridge, Abhishek Gaherwar, Ashay Chaturvedi, Jeetinder Sandhu.

• Style Direction: Kayaan Contractor (assisted by Abhinav & Manu Lodhi).

• Show Director(s): Vahbiz Mehta, Delnaz Daruwala, & Kamal Mehta.

• Founded in 2002, Amal Embroideries creates handcrafted embroideries for leading European couture and luxury fashion houses. Committed to preserving traditional artisanal techniques, the studio also supported this showcase by contributing handcrafted embroidery to selected student looks.

• Salon academy, Daniel Bauer Academy, supported the hair and makeup curation for the fashion showcase.

• Fragrance partner ŚASVA is a modern luxury fragrance house rooted in India and founded in 2022 by Istituto Marangoni alumnus Sriman Subramanian. Drawing on a 70-year family legacy, the brand creates contemporary fragrances inspired by Indian art, culture, landscapes and heritage, reimagined for a global audience.

• The Source by Sula offers fresh, elegant, and delightful wines, globally recognized as among the best Indian wines, representing sustainable winemaking and the purest expression of select Nashik valley vineyards.

Istituto Marangoni: Istituto Marangoni was founded in 1935 as Istituto Artistico dell'Abbigliamento Marangoni in Milan and has over 85 years of experience in shaping fashion, art, and design experts. The institute has educated students from 5 continents over four generations and launched the careers of over 45,000 luxury professionals, including Domenico Dolce, Alessandro Sartori, Paula Cademartori, Gilda Ambrosio, Julie de Libran, and Nicola Brognano. According to a recent Doxa survey, Istituto Marangoni has an impressive employability rate of 91%, demonstrating the high quality of its educational programmes and the career readiness of its graduates.

Istituto Marangoni welcomes around 5,000 students annually from 108 different countries across its schools in Milan, Florence, Paris, London, Mumbai, Shanghai, Dubai, Riyadh, Miami*, and Shenzhen*. The institution has been ranked among the top 100 universities in the world in its disciplines, according to the QS World University Ranking 2025.

* Licensed schools ŚASVA Parfums: Founded in 2022 by Istituto Marangoni alumnus, Sriman Subramanian, ŚASVA is a modern luxury fragrance house rooted in India and created for the world. Drawing on a 70-year family legacy in South Indian architecture and boutique hospitality, the brand crafts contemporary fragrances inspired by India's poetry, art, cinema, landscapes and cultural richness. Reinterpreting India's olfactory heritage through a refined global lens, ŚASVA creates distinctive scents that celebrate craftsmanship, creativity and modern luxury.

Daniel Bauer Academy: The Daniel Bauer Academy is India's largest and most respected makeup and hair training academy. Founded in 2017, the brand operates fully-owned academies across India in Mumbai, Delhi, Kolkata and Bangalore. They specialise in the development and placement of makeup and hair artists from India and Internationally.

Amal Embroideries: Founded in 2002, Amal Embroideries is a design and embroidery studio specialising in the creation of exquisite, handcrafted embroideries for leading European couture and luxury fashion houses. Working closely with internationally renowned fashion brands, architects, interior designers and artists, Amal combines exceptional craftsmanship with creativity, precision and innovation. Rooted in a deep respect for artisanal heritage, the studio is committed to preserving traditional craft through ethical partnerships with its artisans while delivering uncompromising quality and transparency.

The Source by Sula The Source by Sula is an ode to sustainable winemaking, and the purest expression of select vineyards in the Nashik valley. Made with craftmanship in mind, our wines are today considered among the best Indian wines available, locally and internationally. Fresh, elegant and delightful, they have been produced with love and with the upmost respect for the environment.

Press Contact(s): Sqube Brand Relations: Shakeel Sutarwala — [email protected] / +91.98671.50688 Samantha Furtado — [email protected] / +91. 98190.66041 (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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