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    Rupee gains 9 paise to settle at 95.38 against US dollar
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July 10, 2026
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Rupee gains on weaker dollar, softer crude and strong equity sentiment amid expectations of RBI support.
The rupee appreciated against the US dollar in interbank trade, supported by a weaker dollar index, easing crude oil prices, improved risk appetite in global markets and positive domestic equity sentiment. Market participants also noted that continued foreign portfolio inflows and buying by oil companies and importers influenced intraday movement, while traders expected the currency to trade within a defined near-term range.
July 10, 2026
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Poor fiscal management and legislative neglect draw opposition criticism over Maharashtra's budget, infrastructure, education, and power-sector concerns.
Opposition parties criticised the Maharashtra government for poor fiscal management, limited legislative discussion, and reliance on supplementary demands that they said exposed flaws in the original budget. They also alleged governance failures in infrastructure, education, temple administration, examinations, and the power sector, including issues linked to the Mumbai-Pune Expressway's Missing Link project, unpaid contractor dues, and schools lacking basic facilities.
July 10, 2026
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Foreign exchange reserves rise as higher currency assets, gold holdings and IMF-related balances lift India's reserve position.
India's foreign exchange reserves increased during the week ended 3 July 2026, according to the Reserve Bank of India, with higher foreign currency assets and gains in gold reserves contributing to the rise. Special drawing rights and the reserve position with the IMF also increased. The report notes that foreign currency assets are affected by valuation changes in non-US currencies, and refers to earlier reserve volatility linked to pressure on the rupee and RBI intervention through dollar sales.
July 10, 2026
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FCV tobacco marketing support reviewed with focus on procurement, exports, digital reforms and grower welfare.
Measures for the Andhra Pradesh Flue Cured Virginia (FCV) tobacco marketing season 2025-26 were reviewed in consultation with growers, manufacturers, exporters, dealers, trade associations and the Tobacco Board. The discussions focused on accelerating procurement, facilitating exports and strengthening the marketing ecosystem for FCV tobacco, while protecting growers' interests. The review also covered restructuring of the Tobacco Board, enhancement of the Growers' Welfare Fund, simplification of registration procedures, digital initiatives, AI-based grading, export market expansion and crop diversification.
July 10, 2026
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Equity market rally gains strength as IT earnings, easing crude prices and banking stocks lift sentiment across sectors.
Indian equity markets extended gains for a second straight session, closing higher on broad-based buying led by information technology, banking and realty stocks. Sentiment improved on easing crude oil prices, positive global cues, stability in the rupee and better-than-expected quarterly results from TCS, which lifted confidence in the IT sector and improved demand outlook. All sectoral indices ended in positive territory, while market breadth remained positive despite continued foreign institutional investor selling.
July 10, 2026
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Caller identification rules for 140 and 1600 series calls limit app-based blocking, while DND registry controls promotional call preferences.
Calls originating from the 1600 series are reserved for service and transaction communications by regulated entities and government entities, and tagging, blocking or filtering of such calls by apps is not permitted under the Telecom Commercial Communications Customer Preference Regulation. Calls beginning with the 140 series are meant for registered telemarketers, and customers may allow or block such promotional calls through the Do Not Disturb registry, including by using the TRAI DND App. App-based tagging or filtering of 140 series calls is not allowed.
July 10, 2026
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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
Show AI Summary
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
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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
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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.

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Customs, DGFT & SEZ

India Concludes Eighth Trade Policy Review at WTO in Geneva

July 24, 2026

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Commerce Secretary Reaffirms India's Commitment to Open, Transparent and WTO-Consistent Trade Regime

68 WTO Members Participate in India's Trade Policy Review, Reflecting Strong Global Interest in India's Economic Transformation

The second and final session of India's Eighth Trade Policy Review (TPR) concluded today at the World Trade Organization (WTO) in Geneva. The Trade Policy Review is a key transparency and monitoring mechanism of the WTO under which Members' trade and related policies are periodically examined to enhance transparency, strengthen adherence to WTO rules and facilitate constructive dialogue among Members.

India's official delegation for the Eighth Trade Policy Review was led by Commerce Secretary Shri Rajesh Agarwal. In his closing statement to the WTO Membership, the Commerce Secretary thanked Members for their active participation and the keen interest shown in India's trade policies. He reaffirmed that reform is a continuous process and highlighted India's commitment to an open, transparent and predictable trade and investment regime. He underlined that India's tariff reforms, customs simplification measures and ambitious Free Trade Agreement (FTA) strategy have steadily strengthened the country's integration with the global economy while supporting domestic development objectives. He also emphasized that India remains a major engine of global demand.

Responding to the issues raised by Members, the Commerce Secretary reiterated that India's trade policies are guided by WTO-consistent principles while balancing the developmental needs of a large developing economy. He emphasized that India's agricultural tariff structure is designed to safeguard the livelihoods of millions of small, low-income and resource-poor farmers, ensuring fairness and equity, while industrial tariffs support supply chain resilience, diversification and domestic manufacturing capabilities in an evolving global economic environment.

During the review, India received 1,094 written questions from 44 WTO Members. During the two review sessions held on 21 and 23 July 2026, 68 WTO Members made interventions, reflecting growing global interest in India's economic transformation and its role in the multilateral trading system. Several Members recalled the value of their trade and economic relationship with India and broadly appreciated India's constructive engagement in the multilateral trading system and its strong economic resilience. Members also highlighted India's achievements in Digital Public Infrastructure, customs and trade facilitation modernization, innovation and startup initiatives, expansion of regional trade agreements, and efforts to integrate MSMEs into global value chains. They also welcomed India's acceptance of the WTO Agreement on Fisheries Subsidies.

On sanitary and phytosanitary measures, technical regulations and trade remedies, the Commerce Secretary reaffirmed India's commitment to transparency, stakeholder consultations and adherence to WTO rules. He noted that India's Quality Control Orders are intended to achieve legitimate public policy objectives, while trade remedy investigations are conducted transparently, based on objective evidence, due process and judicial oversight. He further highlighted that the overall trade coverage of India's trade remedy measures remains limited and that India continues to apply the Lesser Duty Rule in its anti-dumping framework.

The Commerce Secretary also highlighted India's continued efforts to promote sustainable development, women's economic empowerment, digital public infrastructure, intellectual property reforms, services trade, investment facilitation and Ease of Doing Business. He noted India's significant progress in financial inclusion, digital commerce, logistics modernization and environmental sustainability, while reaffirming India's commitment to an inclusive and innovation-driven growth model.

On WTO reform, the Commerce Secretary reiterated India's strong commitment to an open, inclusive, transparent and rules-based multilateral trading system. He emphasized that WTO reform should remain development-oriented, preserve policy space for developing countries, strengthen the Organization's credibility and deliver on existing mandates. India also reaffirmed its commitment to engaging constructively with all Members to strengthen the multilateral trading system while preserving the foundational principles of the WTO.

The Commerce Secretary expressed his gratitude to the Chair of the Trade Policy Review Body, Ambassador Nella Pepe Tavita-Levy of Samoa, and the Discussant, Ambassador Guilherme de Aguiar Patriota of Brazil, for their leadership and valuable contributions during the review process. He also thanked the WTO Secretariat, WTO Members, and the Indian teams in Geneva and New Delhi for their dedicated efforts in ensuring the successful conclusion of India's Eighth Trade Policy Review.

Concluding the review, the Commerce Secretary reaffirmed India's unwavering commitment to transparency, dialogue and constructive engagement within the WTO. Recalling the Indian philosophy of "Vasudhaiva Kutumbakam"—the world is one family—he emphasized that India will continue to work with all Members to strengthen the multilateral trading system so that international trade remains a force for shared prosperity, inclusive growth and sustainable development.

In his closing remarks, the Discussant, H.E. Mr. Guilherme de Aguiar Patriota (Brazil, in his personal capacity), observed that at a time of heightened global uncertainty, many Members expressed the expectation that India would continue to act as a bridge-builder by promoting dialogue, fostering consensus and strengthening a rules-based, inclusive and resilient multilateral trading system. He underscored India's unique position as a leading voice of the Global South and its important role in bridging differences among Members to advance collective action within the WTO.

In her concluding remarks, the Chair of the Trade Policy Review Body, Ambassador Nella Pepe Tavita-Levy of Samoa, noted that WTO Members widely acknowledged India's growing importance in the global economy and recognized its expanding role as a driver of global growth and trade. She also referred to the concerns raised by Members and expressed the hope that India would address them appropriately.

Overall, India's Eighth Trade Policy Review concluded on a positive note, underscoring the country's growing importance in the multilateral trading system and Members' expectation that India will continue to play a central role in strengthening and shaping the future of the rules-based global trading system.

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