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    Closely monitoring: India on US bill seeking up to 100 % tariffs on purchasers of Russian oil
    Delhi HC seeks ED stand on Nayan Raheja's plea against money laundering case
    Rupee appreciates 7 paise to close at 95.43 against US dollar
    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
    PM Modi speaks to UK counterpart Burnham
    Bank credit to industry records robust growth of 19.2 pc in June: RBI data
    Delhi protesters' fingerprints collected from stones for identification via Aadhaar: BJP minister
    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
    Jharkhand signs pact with CSC eStore to make SHG products made by women available online
    APEDA Facilitates First-Ever Air Shipment of Karnataka's Neelam and Totapuri Mangoes to the Maldives
    Favara-UPI Cross-Border Payment Corridor Goes Live Between Maldives and India
    SC upholds NCLAT order setting aside CCI's Rs 301.6-cr penalty on Grasim Industries
    China's factory activity unexpectedly slips into contraction in July
    PM Modi to inaugurate Bhogapuram Airport on Aug 1 in Andhra Pradesh
    Rupee rises 20 paise to 95.30 against US dollar in early trade
    APEDA Facilitates First-Ever Sea Shipment of Value-Added Flavoured Makhana from Bihar to Canada
    Indian envoy meets Chinese commerce ministry official; Calls for enhanced market access
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    July 31, 2026
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    Russian oil purchases may trigger proposed targeted tariffs, with periodic reassessment based on countries' purchasing behaviour.
    Proposed United States measures would authorise sanctions against Russia and persons supporting its war in Ukraine, while permitting targeted tariffs on imports from countries purchasing substantial volumes of Russian oil or gas or facilitating sanctions evasion. The framework identifies major purchasers and shadow-fleet facilitators for possible additional tariffs and provides for periodic reassessment and tariff adjustments based on purchasing behaviour. India stated that its energy-security policy rests on national priorities and diversified energy sources.
    July 31, 2026
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    Money-laundering proceedings face challenge over absent predicate offence, alleged lack of criminal intent, and treatment of related FIRs.
    Money-laundering proceedings linked to alleged diversion of homebuyer funds are challenged on the ground that no scheduled offence or criminal intent is attributable to the petitioner. The petitioner relies on his asserted exoneration in two predicate FIRs, where charge sheets did not name him, and settlement of the remaining FIR. Notice was issued for a response and status report, and the petitioner undertook to cooperate with the investigation.
    July 31, 2026
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    Rupee appreciation reflected foreign capital inflows and central bank support, tempered by crude prices and geopolitical tensions.
    Rupee appreciation against the US dollar was linked to sustained foreign capital inflows and Reserve Bank support through dollar selling. Higher crude oil prices, a stronger US dollar and geopolitical tensions in West Asia constrained further gains. A slightly positive near-term rupee bias was associated with softer dollar conditions, dovish US monetary expectations, favourable global markets and improved foreign inflows, while geopolitical risks remained relevant. Domestic equity indices rose, foreign-exchange reserves increased, and fiscal-deficit data showed the central government's position against its full-year target.
    July 31, 2026
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    India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
    The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
    July 31, 2026
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    Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
    Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.
    July 31, 2026
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    One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
    The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
    July 31, 2026
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    Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
    The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
    July 31, 2026
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    Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
    Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
    July 31, 2026
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    Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
    Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
    July 31, 2026
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    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    July 31, 2026
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    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
    July 31, 2026
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    Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
    Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
    July 31, 2026
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    Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
    Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
    July 31, 2026
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    Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
    Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.
    July 31, 2026
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    Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
    Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.
    July 31, 2026
    Show AI Summary
    Manufacturing contraction highlights weak domestic demand, property-sector pressure and continued reliance on technology-related exports for economic growth.
    Manufacturing activity in China contracted in July, as the official purchasing managers' index fell below the expansion threshold and new orders and production declined. Weak domestic demand, lower building activity and possible typhoon-related disruptions contributed to the slowdown. Consumer spending, investment and property-sector weakness continue to affect confidence, while technology-related exports support growth. Policy commitments include strengthening domestic consumption amid continued reliance on exports.
    July 31, 2026
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    Public-private partnership airport development strengthens aviation, cargo logistics, export infrastructure and sustainable connectivity through an integrated international airport project.
    The Bhogapuram airport project is being implemented under a Public-Private Partnership through the Design, Build, Finance, Operate and Transfer framework. It has obtained required aerodrome, safety, fire and environmental clearances and includes infrastructure for domestic and international aviation, passenger processing and airport security. Cargo and cold-chain facilities are intended to support exports and logistics integration, while recycled-water use and LEED Platinum standards form part of the project's sustainability features.
    July 31, 2026
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    Rupee appreciation against the US dollar continued as foreign inflows and lower crude prices supported domestic currency markets.
    Rupee appreciation against the US dollar continued in early trading, supported by foreign capital inflows and lower global crude oil prices. A stronger US dollar constrained further appreciation, while expectations of continued Reserve Bank of India intervention were cited as supporting the rupee. Declining Brent crude prices, gains in domestic equity indices and net foreign institutional investment in equities were also identified as relevant market factors.
    July 31, 2026
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    Value-added Makhana exports expand international market access, support quality compliance, and improve farmer returns through processing and branding.
    Agricultural export facilitation supported the first sea shipment of value-added flavoured Makhana from Bihar to Canada. Processed and packaged to international quality and food-safety standards, the export demonstrates the role of processing, value addition and export-oriented manufacturing in expanding overseas market access. The initiative is stated to improve farmer returns through value addition, while capacity building, export infrastructure, quality compliance, market linkages and stakeholder collaboration support the agri-export ecosystem.
    July 30, 2026
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    Market access for Indian pharmaceuticals remains central to bilateral efforts to promote sustainable trade and economic cooperation.
    Enhanced market access for Indian products, particularly pharmaceuticals, was raised in discussions aimed at strengthening bilateral trade and economic ties. The discussions addressed sustainable trade, and the sides agreed to increase mutual cooperation and communication. India continues to seek greater access to China's information technology, pharmaceutical and agricultural sectors, while pursuing increased pharmaceutical exports and Chinese investment. Bilateral trade increased, but India's trade deficit widened, reflecting an ongoing imbalance in trade flows.

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      Customs & Trade

      India's Market Opportunity is Growing, and the Trade is Taking Notice

      August 4, 2026

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      imm India 2026 brings India's furniture and interiors industry face-to-face, bringing together manufacturers, exporters, designers, retailers, and hospitality buyers in one place for three days that matterNew Delhi, Delhi, India (NewsVoir)
      India designs and manufactures some of the finest furniture, handicrafts, rugs, and home décor in the world. A significant share of it leaves the country before most Indian buyers — retailers, interior designers, hotels, or developers — ever get to see it. imm india 2026 is built to fix that.
      Organised by Koelnmesse — the force behind imm cologne, one of the world's three largest furniture trade fairs — imm india 2026 takes place from 1–3 September 2026 at Yashobhoomi (IICC), Dwarka, New Delhi. It is India's integrated B2B sourcing platform where global and domestic demand meets India's manufacturing depth under a single roof — across furniture, home décor, rugs and carpets, mattresses, and handcrafted collections.


      The response from the domestic trade community has been unprecedented. Architects and interior designers, real estate developers, retailers and wholesalers, HoReCa professionals, buying houses, and sourcing agencies have signed up in numbers that reflect a genuine industry hunger for a platform of this kind — one that offers direct manufacturer access, design-forward product, and the kind of business conversations that do not happen over a catalogue or a portal.


      Speaking on the platform’s growing relevance, Mr. Milind Dixit, Managing Director, Koelnmesse Pvt. Ltd., said, "imm india 2026 is not just another exhibition — it is a bold statement of India's readiness to lead the global furniture and interiors conversation. Our vision is to create a marketplace where Indian manufacturers connect seamlessly with global demand, where design meets business, and where long-term partnerships are built."
      imm india serves both directions of the supply chain simultaneously. On one side, over 100 confirmed exhibitors — many of them export-ready manufacturers who typically prioritise international orders — now have a structured platform to engage India's domestic trade buyers directly. On the other side, domestic buyers get what they have rarely had: access to export-quality, design-led product, at source, with the maker in the room.


      For an architect or interior designer, that means touching material, briefing a manufacturer to specification, and sourcing something genuinely distinctive for a project — not another off-the-shelf option. For a retailer or distributor, it means first-mover access to new collections before they reach the wider market. For HoReCa professionals and real estate developers, it is direct procurement at project scale — cutting out the agent, closing the margin gap, and briefing the supplier face-to-face.


      The global trade environment is adding momentum to this domestic story. The recently finalised EU–India Free Trade Agreement and the India–UK Comprehensive Economic and Trade Agreement (CETA) — providing duty-free access for 99% of Indian furniture, home décor, and handicraft exports into Europe and the UK — are significantly elevating India's position as a global sourcing destination. What this means for domestic buyers is material: manufacturers who are now internationally competitive are exhibiting at imm india. The product on the floor has been built to global specification.


      Mr. C.P Sharma, President – Handloom Handicraft Exporters Welfare Association (HHEWA), COA Member, PDEXCIL (Ministry of Textiles, Government of India invited COA EPCH, said, "HHEWA is pleased to partner with imm india to create new business and export opportunities for India's handicraft and home décor exporters. Together, HHEWA and imm india are committed to supporting the growth, visibility, and global competitiveness of Indian exporters."
      Mr. Bharat Dinesh, President, Jodhpur Handicrafts Exporters Association, said, "imm india marks a defining step for India's furniture and interiors industry. It gives our members and the wider ecosystem a focused global platform to showcase Indian design, connect with serious buyers, and build partnerships that strengthen India's position in global trade."
      The show floor spans furniture, rugs and carpets, home décor, surfaces, kitchen solutions, mattresses, and handcrafted collections, with confirmed exhibitors including Source, Sunrise International, Sheela Foam Limited, Obeetee Pvt. Ltd., Phoenix Industries Ltd., Royal Rugs, Khivraj Handicrafts, Sankara Furniture Designs, Metaltech Design, Saraf Exports, Tapisserie Home, The Furniture Folks, and Mahesh Handicrafts — alongside 100+ total exhibitors spanning major manufacturing hubs from Jodhpur and Moradabad to Karur and Saharanpur.


      Alongside the domestic trade opportunity, imm india 2026 is hosting a structured International Hosted Buyer Programme — bringing confirmed trade delegations from the USA, Australia, UK, Germany, France, Netherlands, Denmark, Spain, Oman, Mexico, Egypt, Israel, Romania, UAE, and other key markets. For Indian exhibitors, this means qualified international buyers on the floor — not a projection, a confirmed programme.


      The event is backed by India's broadest industry coalition for a furniture and interiors platform. imm india 2026's supporting associations include JHEA, AMK, HHEWA, Buying Agents Association (BAA), and AFMI – Association of Furniture Manufacturers of India (Exclusive Partner). Further support from The Handicrafts Exporters Association Moradabad, Bagru Industrial Association, AACC, IETO, ICC, Kirti Nagar Timber & Furniture Dealers Association, and KHEXMASS creates a pan-India coalition spanning every manufacturing cluster, trade body, and buyer segment of consequence.


      Beyond sourcing, imm india 2026 will host industry conferences and knowledge sessions curated with the architecture and interior design community, and the imm india Excellence Awards — recognising innovation, sustainability, craftsmanship, and design excellence across Indian manufacturing.


      India's furniture and interiors industry has always been globally competitive. imm india 2026 is the platform where that competitiveness meets the domestic market it has largely bypassed — and where the international market it is now entering comes to confirm what it has been hearing. Three days. One address. The industry's full range. That is what September 1–3 in New Delhi looks like.


      Registration is free for qualified trade visitors. To register or learn more: www.imm-india.com.


      Koelnmesse – Global Inspiration for Living, Contract and Public Spaces Koelnmesse is the world’s top trade fair organiser for the areas of Living, Contract and Public Spaces. Leading international trade fairs such as ORGATEC, interzum, FSB, aquanale and spoga+gafa come together at the Cologne trade fair location to form renowned and established industry meeting points. This strong portfolio is further enhanced by imm cologne and idd cologne, both of which are also held in Cologne. These fairs comprehensively represent the interior and design segment, the furniture and interior construction industries' supplying sections, the kitchen world, all topics for the modern working world, garden lifestyle as well as modern work environments, the garden lifestyle, public spaces, sports and leisure facilities, along with saunas, pools and wellness centres.


      Beyond that, Koelnmesse is strategically expanding its portfolio in international growth markets. The imm brand family includes imm india and IFFINA+ powered by imm cologne in Indonesia. The ORGATEC brand has established a global footprint with ORGATEC Tokyo, ORGATEC India, and ORGATEC WORKSPACE Saudi Arabia. The international presence of the interzum brand extends to interzum guangzhou, interzum bogota, interzum jakarta, and the interzum forum italy. The FSB brand is also internationally active, with the FSB Sports Show Riyadh and the FSB Forum Italy in Bergamo. Furthermore, the portfolio features La Feria De Diseño Medellín powered by idd cologne in Colombia.


      imm india on LinkedIn: www.linkedin.com/company immindiaofficial imm india on Facebook: www.facebook.com/immindiaofficial/ imm india on Instagram: www.instagram.com/immindia_official/
      (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR

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