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    CCI approves acquisition by Opal Bidco Pte. Ltd. of 100% shareholding in STT GDC Pte. Ltd.
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    Goods worth USD 140 mn exported on first day of India-UK trade pact coming into effect
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July 16, 2026
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Competition clearance governs full acquisition of a data-centre provider alongside co-investor economic interests in the transaction.
Competition approval concerns Opal Bidco Pte. Ltd.'s acquisition of the entire shareholding in STT GDC Pte. Ltd., a data-centre provider. The transaction also provides for specified co-investors to acquire economic interests in STT GDC on a see-through basis. STT GDC operates in India through an indirect subsidiary and is among multiple data-centre participants active in India.
July 16, 2026
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Windfall tax on petroleum exports revises diesel and aviation fuel levies while reducing the petrol export levy.
Special Additional Excise Duty on petroleum-product exports was revised from 16 July 2026, increasing the levy on diesel and aviation turbine fuel exports while reducing it on petrol exports. Duty rates on petrol and diesel cleared for domestic consumption remained unchanged. The windfall tax framework seeks to support domestic fuel availability and discourage exporters from benefiting from differences between domestic and global fuel prices during elevated crude-oil prices.
July 15, 2026
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Duty-free market access under the India-UK trade pact expands exports while preserving safeguards for procurement and policy space.
The India-UK Comprehensive Economic and Trade Agreement provides duty-free access for nearly 99 per cent of Indian exports and includes reciprocal government-procurement access subject to safeguards. India retains MSME preferences, limits covered procurement to selected central entities, excludes strategic sectors, and applies minimum contract thresholds. The agreement preserves compulsory licensing and permits withdrawal of certain concessions if a future UK carbon tax adversely affects Indian exports. Its gender, SME, environment, and labour chapters contain no dispute-settlement provisions.
July 15, 2026
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India-UK trade agreement expands duty-free market access and tariff reductions for exports, services, manufacturing and small enterprises.
India-UK Comprehensive Economic and Trade Agreement (CETA) is stated to provide duty-free access in the UK market for 99 per cent of Indian products and to reduce or eliminate UK import tariffs across key product categories. It is expected to support Karnataka exports in manufacturing, agricultural produce, processed food, electronics, aerospace and medical devices, with certain tariff reductions phased out over time. Mode 1 services provisions are identified as beneficial to Bengaluru's IT industry, while awareness programmes and investment roadshows are proposed to help exporters and attract investment.
July 15, 2026
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Foreign investment screening cooperation advances investment flows alongside trade, technology, supply-chain resilience and prospective investment-protection commitments.
India and the European Union concluded a work programme on foreign direct investment screening, exchanging best practices to facilitate investment flows. Trade and Technology Council cooperation addresses market access, standards harmonisation, supply-chain requirements, deep-tech innovation and critical dependencies. The parties also discussed free trade agreement ratification, World Trade Organization reform, and prospective investment-protection and geographical-indications agreements. The Council provides an institutional mechanism for cooperation on trade, trusted technology and economic security.
July 15, 2026
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Balance of payments reporting shows a current account surplus despite a wider trade deficit and portfolio investment outflows.
Balance of payments data for April-May 2026 records a current account surplus, supported by increased net services receipts, higher inward remittances and a marginal reduction in net income outgo. The merchandise trade deficit widened as imports rose more than exports. The overall balance of payments moved into deficit, while net foreign direct investment increased and net foreign portfolio investment recorded a larger net outflow.
July 15, 2026
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Online betting money laundering investigation examines alleged proxy accounts, simulated salary payments, cross-border routing, and custodial investigation of the money trail.
Money-laundering allegations concerning an online betting syndicate involve purported routing of betting proceeds through fictitious or proxy bank accounts, simulated salary payments, share-capital investments, and foreign institutional channels. An Ebix Group chairman was arrested in connection with the alleged money trail and remanded for investigation. The investigating agency states that prosecution complaints have been filed and that separate state economic-offence and central investigations address connected cases. Political-link allegations were denied, and the stated laundering assertions remain under investigation.
July 15, 2026
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Money laundering asset attachment addresses alleged fund diversion through false invoices, inflated construction costs, shell entities and accommodation entries.
Provisional attachment under the Prevention of Money Laundering Act was undertaken in an alleged financial-fraud investigation involving a hospital company. The allegations concern diversion of company funds through purportedly false medical-implant invoices and inflated hospital-construction costs routed through a related company. Accommodation-entry operators and shell entities were allegedly used to conceal the origin of illicit funds. The proceeding arose from a Serious Fraud Investigation Office chargesheet against the hospital promoters.
July 15, 2026
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Money-laundering investigation into online betting proceeds leads to custodial remand amid allegations of layered fund routing.
A special PMLA court remanded Ebix Group chairman Vikas Garg to Enforcement Directorate custody in an investigation into alleged money laundering linked to online betting operations. The agency alleged that betting proceeds were routed through accommodation entries, shell entities and layered transactions into entities owned or controlled by Garg, and were used to acquire shares, securities and other assets. It also alleged dissipation or encumbrance of Ebix shares and an attempt to mortgage or sell property treated as proceeds of crime.
July 15, 2026
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India-UK CETA tariff elimination strengthens export prospects for labour-intensive leather, jute, jewellery and agricultural products in British markets.
India-UK CETA tariff concessions are expected to improve West Bengal's export competitiveness in the United Kingdom. Duty-free access applies to tea, mangoes and betel leaves, while import duties on jewellery have been removed. Labour-intensive leather, jute, and gems and jewellery sectors are identified as principal beneficiaries, with tariff removal also improving seafood export prospects. Further competitiveness measures are proposed to help exporters use the agreement's trade opportunities.
July 15, 2026
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Zero-duty market access under CETA enables Indian jewellery exporters to enter overseas markets without import tariffs.
Zero-duty access under the India-UK Comprehensive Economic and Trade Agreement enables eligible Indian gem and jewellery exports to enter the United Kingdom market without UK import tariffs. The agreement is expected to improve market access and support value-added manufacturing, employment, skill development, and the participation of artisans, micro, small and medium enterprises, and exporters in West Bengal's gem and jewellery sector.
July 15, 2026
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UK-India trade agreement introduces wider market access, tariff reductions and social security arrangements to support bilateral commerce.
The UK-India Comprehensive Economic and Trade Agreement has entered into force, providing expanded market access, tariff reduction and trade facilitation. India receives zero-duty access for nearly all exports to the UK, while UK products entering India receive duty-free or reduced-tariff treatment. The framework covers goods including textiles, leather, engineering products, food, cosmetics, alcoholic beverages and premium cars. A bilateral social security agreement has also been operationalised to support wider commercial engagement.
July 15, 2026
Show AI Summary
Data governance expectations propose stronger lifecycle controls, quality standards, accountability and third-party data-sharing safeguards for regulated financial entities.
Draft regulatory guidance on data governance proposes expectations for regulated financial entities to maintain data that is accurate, consistent, secure and fit for purpose. The framework addresses data-governance arrangements, defined roles, data architecture, metadata and data lineage, data quality, and third-party data-sharing arrangements. It applies to specified banking entities, financial institutions, non-banking financial companies, asset reconstruction companies and credit information companies, and invites stakeholder feedback on the proposed framework.
July 15, 2026
Show AI Summary
Semiconductor and mobile manufacturing incentives support domestic production, component sourcing, design investment, exports and resilient electronics supply chains.
Semicon 2.0 and the Mobile Phone Manufacturing Scheme provide manufacturing support to expand domestic electronics production, exports and local value addition. Semicon 2.0 covers chip design, equipment and materials, fabrication, advanced packaging and testing, research, and talent development, while supporting semiconductor intellectual property and critical-component manufacturing. The mobile-phone scheme provides production-linked incentives linked to eligible sales, with additional support for domestic component sourcing and Indian investment in product design and research. The measures seek to reduce import dependence and strengthen domestic critical-technology capabilities.
July 15, 2026
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India-UK trade liberalisation expands tariff preferences, services access and skilled professional mobility while preserving protections for sensitive domestic sectors.
The India-United Kingdom Comprehensive Economic and Trade Agreement establishes preferential tariff treatment for goods and expands cooperation in services, digital trade, government procurement, investment and professional mobility. India retains protections for sensitive sectors through phased tariff reductions and quota-based access, while duties on British automobiles and alcoholic beverages are reduced in stages. The accompanying social-security convention exempts eligible Indian professionals temporarily assigned to the United Kingdom from simultaneous contributions in both jurisdictions, supporting skilled-worker mobility and reducing employment-related costs.
July 15, 2026
Show AI Summary
Railway capacity augmentation strengthens multimodal connectivity, freight movement, operational reliability and lower-emission transport across Odisha and Jharkhand.
Railway capacity augmentation is approved through doubling of the Paradeep-Haridaspur route and construction of a fourth line on the Rajkharsawan-Dangoaposi route. The projects aim to reduce congestion, improve railway operational efficiency and reliability, and strengthen integrated multimodal connectivity. Enhanced capacity is intended to support freight transport of coal, iron ore, dolomite, limestone and gypsum, improve regional and tourist connectivity, promote logistics efficiency, and reduce oil imports and carbon emissions.
July 15, 2026
Show AI Summary
Urea investment policy promotes gas-based domestic manufacturing through transparent cost treatment, return-on-equity parameters, and foreign-exchange risk mitigation.
NIPU-2026 provides a framework for investment in new gas-based urea manufacturing units to increase indigenous production and reduce reliance on imported urea. It separates fixed and variable costs for transparency, provides a prescribed return-on-equity band, and mitigates foreign-exchange exposure through conversion of fixed costs into Indian rupees after four years at prevailing exchange rates. The policy supports self-sufficiency through additional domestic urea manufacturing capacity.
July 15, 2026
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Greenfield elevated corridor development strengthens multimodal connectivity, urban decongestion, road safety and pilgrimage access through the Hybrid Annuity Model.
Development of a six-lane greenfield elevated connector corridor between National Highway-19 and the Varanasi Ring Road has been approved under the National Highways (Original) programme through the Hybrid Annuity Model. The access-controlled corridor includes elevated road infrastructure, bridges, loops, ramps, link roads and service roads, and is intended to divert through traffic from congested urban roads. Aligned with the PM Gati Shakti National Master Plan, it integrates road, rail, air and inland-water connectivity while improving access to logistics, religious, educational and cultural destinations.
July 15, 2026
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Hybrid annuity corridor development advances urban decongestion, multimodal connectivity, safer travel and efficient passenger and freight movement.
A predominantly elevated 6/4-lane link and connector corridor along the Varuna River Bank has been approved under the Hybrid Annuity Model. Comprising carriageways, flyovers, loops, ramps and service roads, it will connect NH-31 with the Varanasi Ring Road under the Varanasi Decongestion Plan. The corridor is intended to reduce congestion and travel time, improve safety and freight movement, and strengthen access to transport, economic, social and logistics nodes through multimodal integration.
July 15, 2026
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Personal loan disbursal incentives provide eligible borrowers reward bundles, subject to eligibility conditions, verification, assessment and applicable terms.
Personal loan disbursal incentive campaign offers eligible borrowers an entertainment and lifestyle voucher bundle upon successful disbursal during the specified promotional period. Reward availability is conditional on customer eligibility and applicable terms and conditions. The collateral-free, digitally processed credit facility involves eligibility-based approval, review of loan terms, KYC and bank-account verification, and application assessment before disbursal.

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Customs, DGFT & SEZ

India's Toy Exports Soar 89.1%, Reflecting Strong Growth in Domestic Manufacturing

July 28, 2026

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Toy Biz International 2026 Showcases 400 Indian Brands, Boosting Domestic Sales and Export Opportunities

Government Initiatives Boost Quality, Safety and Competitiveness of India's Toy Industry

The 17th Toy Biz International B2B Exhibition was organized by the Toy Association of India from 4th to 7th July, 2026 at Bharat Mandapam, New Delhi. The Exhibition aimed at promoting Indian toys, facilitating business networking, and creating opportunities for growth in domestic sales and exports. It witnessed participation of 400 Indian toy brands, 100 international buyers from 40 countries, and around 30,000 business visitors. The exhibition provided platform for connecting manufacturers with wholesalers, retailers, distributors, institutional buyers and e-commerce platforms.

At present, there is no dedicated toy policy of the Government of India.

In 2018-19, Toys worth USD 371.7 Mn were imported into India. A large proportion of these toys were unsafe, substandard, counterfeit, and cheap. Further, a Mystery Shopping exercise conducted in 2019 revealed that only 33% toys in the domestic market were of acceptable quality as per BIS standards.

In order to improve the quality and safety of toys in the country and to promote the overall development of the Indian toy industry, the Government of India has undertaken several initiatives. The key initiatives are as follows:

  • Formulation of a comprehensive National Action Plan for Toys (NAPT), comprising 21 action points and coordinated by 14 Ministries and Departments. It focuses on promoting the design and development of toys based on Indian values, culture, and history; encouraging the use of toys as learning resources; organizing hackathons, toy fairs, and grand challenges for toy design and manufacturing; strengthening quality monitoring and restricting the import of substandard and unsafe toys; promoting indigenous toy clusters; and boosting domestic manufacturing.
  • Basic Custom Duty (BCD) on Toys (HS Code-9503) was increased from 20% to 60% in February 2020, and subsequently increased to 70% in 2023. Further, the BCD on Parts of Electronic Toys (HS 95030091) revised as 20% in the Budget F.Y. 2025-26.
  • A Quality Control Order (QCO) for Toys was issued on 25.02.2020, implemented with effect from 01.01.2021.
  • BIS has granted more than 1800 licenses to domestic manufacturers of toys and more than 50 licenses to foreign manufacturers for use of BIS Standard Mark on toys conforming to the Indian Standards for safety of toys.
  • The National Education Policy 2020 formulated by Ministry of Education focuses on play and activity-based learning. A handbook on ‘Toy Based Pedagogy’ has been published by NCERT with the objective of ensuring that the learning process for children is enjoyable and fun. It prescribes toys, especially based on indigenous toys and games to be used at different stages to help develop many competencies in young children.
  • Cluster-based approach adopted to support domestic Toy industry. The Ministry of MSMEs has approved 18 Toy clusters under the Scheme of Funds for the Regeneration of Traditional Industries (SFURTI), and the Ministry of Textiles is providing designing and tooling support to 40 Toy clusters.
  • More than 700 startups have been recognised by DPIIT under Startup India initiative.
  • More than 2,200 exporters have been supported under Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for exports of Toys.
  • Zero duty market access under India-UAE Comprehensive Economic Partnership Agreement (CEPA), the India-Australia Economic Cooperation and Trade Agreement, and India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement, India-Oman Comprehensive Economic Partnership Agreement, India-New Zealand Free Trade Agreement, and India-United Kingdom Comprehensive Economic and Trade Agreement.
  • Several promotional initiatives have also been undertaken to promote indigenous toys and encourage innovation, including Toycathon, Toy fairs, etc.

These initiatives have resulted in remarkable growth of the Indian Toy industry. As per a BIS survey conducted in 2025, 95% of toy samples were found conforming to the prescribed quality standards, as against 33% in 2019, indicating a substantial improvement in the quality of toys available in the Indian market.

Further, the Indian toy industry has emerged as a net exporter of toys with exports to countries including United States, United Kingdom, the Netherlands and Germany. The import of toys into India has declined by 37.5%, while toy exports have increased by 89.1%.

Trade

FY 2018-19

FY 2025-26

Growth (%)

India's Imports from World ($ Mn.)

371.7

232.3

-37.5%

India's Exports to World ($ Mn.)

203.5

384.7

89.1%

Source: Tradestat website & Data for HS 9503, HS 9504 & HS 9505.

This information was given by Minister of State for Ministry of Commerce and Industry, Shri Jitin Prasada in a written reply in Lok Sabha today.

***

Abhishek Dayal/ Garima Singh/ Ishita Biswas

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