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August 1, 2026
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Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
August 1, 2026
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Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.
August 1, 2026
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Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.
August 1, 2026
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Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
July 31, 2026
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Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
July 31, 2026
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Greenfield airport development under a public-private partnership advances licensed international passenger, cargo, logistics, and sustainable infrastructure.
A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.
July 31, 2026
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Regulatory and legal developments cover trade measures, legislative action, offshore exploration support, court directions and platform algorithm scrutiny.
The compilation reports proposed United States tariff measures concerning purchasers of Russian oil and gas, India-United Kingdom trade engagement, extension of farmer-support measures, and approval of offshore exploration support. It also covers passage of the Registration of Births and Deaths (Amendment) Bill, 2026, a privilege-motion notice, a criminal sentencing, and directions to appoint a nodal officer for families affected by the Russia-Ukraine war. Regulatory items include industrial credit data and examination of social-media algorithms, bias and public-order implications.
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.

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Customs & Trade

Govt sets LPG production targets for refiners; Reliance gets largest quota

August 16, 2026

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New Delhi, Aug 16 (PTI) The government has for the first time fixed maximum cooking gas LPG production targets for individual public- and private-sector refineries and upstream companies, as it seeks to build a domestic supply buffer after the West Asia conflict exposed the country's vulnerability to disruptions in imported cooking gas.

The Petroleum and Natural Gas Ministry, in an order issued on August 13, has specified maximum LPG production levels for 21 refineries and upstream companies, with combined production potential set at 63,810 tonnes a day -- more than double the domestic LPG output in the fiscal year ended March 31, 2026 and about 70 per cent of the country's daily consumption.

The production limits will kick in whenever there is a supply constraint.

The lion's share of the planned output has been set from Reliance Industries Ltd's older refinery, which would have to produce up to 18,000 tonnes a day of LPG, according to the order.

India consumed 33.2 million tonnes of LPG in the 2025-26 fiscal year (about 91,000 tonnes per day). Of this, 13.1 million tonnes a year was produced locally (about 35,900 tonnes a day) while the remaining 21.3 million tonnes per annum (about 58,400 tonnes a day) was imported.

This high import dependence of over 64 per cent left the country exposed when the start of the Iran war effectively shut the Strait of Hormuz, the narrow sealane through which India got 90 per cent of its imports from nations like Saudi Arabia.

With supplies impacted, the government in March ordered refineries to divert streams used for petrochemicals production to maximise LPG output.

It also initially stopped sales to industrial and commercial users and thereafter gradually scaled it up. For domestic households, periodicity of booking a refill was increased, and they were encouraged to shift to piped natural gas, whose supplies were not so severely impacted due to the war.

Domestic production was ramped up to about 55,000 tonnes a day at the height of the crisis, but the emergency orders asking refiners to maximise output were gradually withdrawn after supplies eased from mid-June.

The new order goes further than the emergency one issued during the West Asia crisis by creating facility-wise production benchmarks and requiring refiners and upstream companies to maintain adequate infrastructure for LPG storage, evacuation and transportation. Companies must also pursue technically and economically feasible upgrades to maximise output.

The government has empowered itself to order refiners, oil marketing companies and upstream producers to ramp up LPG production for specified quantities and periods whenever it considers such action necessary to ensure adequate domestic availability, equitable distribution and supply at fair prices.

The production schedule will be reviewed every six months, allowing the government to add output from new refineries and upstream fields and account for additional capacity created through technology and infrastructure upgrades.

The order also requires refiners to consider measures such as converting naphtha into LPG and upgrading fluid catalytic cracking units where technically and economically viable, underscoring the government's push to extract more LPG from existing refining infrastructure.

The government had introduced several emergency measures during the West Asia crisis, including prioritising household LPG supplies and restricting supplies to some commercial and industrial users as imports were disrupted.

The new production framework is aimed at ensuring that a future disruption to overseas LPG supplies does not translate into the shortages and rationing seen during the recent crisis.

Taking lessons from the crisis, the government has now put the country's refineries and upstream producers under a standing framework to maintain and, when necessary, increase LPG output.

Eighteen refineries owned and operated by public sector oil companies have been ordered to produce a total of 31,470 tonnes a day.

In the private sector, Reliance's 33 million tonnes a year domestic-tariff area (DTA) refinery at Jamnagar in Gujarat, products from which are sold locally, has been ordered to produce 18,000 tonnes. No target has been set for Reliance's 35.2 million tonnes a year only-for-exports refinery at the same site.

Russia's Rosneft-backed Nayara Energy's 20 million tonnes a year Vadinar refinery has been asked to produce 4,480 tonnes a day, according to the order.

Upstream gas producers and processors like ONGC and GAIL, who make LPG from natural gas, have been given a target of 6,460 tonnes a day.

"It is hereby ordered that all public sector, joint venture and private sector oil refining companies, and upstream oil companies shall develop, augment and at all times maintain adequate infrastructure for storage, evacuation and transport of Liquefied Petroleum Gas (LPG) either by itself or through other entities viz railways or road tankers adequate for the specified quantities," the order said.

They were also ordered to "implement all technically and economically feasible measures and technologies such as naphtha-to-LPG conversion, gasoline-based fluid catalytic cracking unit to petro-fluid catalytic cracking unit, or other upgrades, to maximise LPG production beyond current minimum producible quantities as specified in the Schedule, with intimation to Centre for High Technology or any other authorised agency, whenever such an upgrade is undertaken." The ministry further said "if Central Government is of the opinion that it is necessary in public interest to ensure adequate availability, equitable distribution and availability at fair prices of domestic LPG, it may by itself or through Centre for High Technology or any other authorised agency, by order in writing, issue direction to oil refining companies, oil marketing companies and upstream oil companies to ramp up the LPG production levels for such quantity and period specified therein, including compliance with any restrictions on alternative uses of input streams required to produce the LPG." Whenever directions are issued, the companies will have to ramp-up LPG production levels within the stipulated time frame.

The central government, the order said, shall update the production Schedule on 1st January and 1st July of every year, including updates to LPG production from new refineries and upstream oil companies or additional LPG quantities from existing refineries and upstream companies due to changes to associated infrastructure and production technology, evacuation, supply, transport or distribution of LPG. PTI ANZ HVA

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