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    India-China trade through Shipli La resumes after six years
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August 1, 2026
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Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
August 1, 2026
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Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
August 1, 2026
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GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
August 1, 2026
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Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
August 1, 2026
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PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
August 1, 2026
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Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
August 1, 2026
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GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
August 1, 2026
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Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.
August 1, 2026
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GST collection growth in West Bengal continued year-on-year in July but remained below the national growth trend.
West Bengal's July GST collection increased year-on-year and over the preceding month, marking a second consecutive month of annual growth. Official data also indicated that the State's annual growth rate was below the national trend, while gross domestic GST revenue excluding imports and overall gross GST collections including import-related taxes rose nationally during July.
August 1, 2026
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GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
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.

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Customs & Trade

India pivots to US for LPG, LNG as West Asia crisis disrupts Gulf supplies

August 25, 2026

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New Delhi, Aug 25 (PTI) India has sharply increased purchases of liquefied petroleum gas (LPG) and liquefied natural gas (LNG) from the United States as disruptions linked to the conflict in West Asia constrain supplies from traditional Gulf suppliers, data from maritime intelligence firm Kpler showed.

India imported about 0.62 million tonnes of LPG from the United States in August, in addition to 0.89 million tonnes in July, accounting for more than 73 per cent of the country's LPG imports, according to Kpler data.

The July US volume was almost equal to the highest-ever monthly LPG import from the United Arab Emirates, India's traditional supplier, of 0.891 million tonnes in October 2025.

Imports from Gulf suppliers have fallen sharply after the effective closure of the Strait of Hormuz, following the outbreak of war between Iran and the United States. The waterway is a key shipping route for crude oil and gas exported by Gulf producers to major consumers, including India.

UAE LPG imports fell to about 1,40,000 tonnes in August, while Qatar supplied around 60,000 tonnes, Kpler data showed. Saudi Arabia supplied no LPG to India in either July or August.

The shift has also been visible in LNG, although India's sourcing pattern has been more diversified.

LNG imports from Qatar, India's largest source of the fuel, fell to zero in April, while US supplies rose to about 0.75 million tonnes in August from 0.72 million tonnes in July. Qatar has historically supplied as much as 1.2 million tonnes of LNG a month to India.

"The shift towards the US has broadly continued over the past few months, particularly for LPG," said Sumit Ritolia, senior manager - modelling.

"I would, however, be cautious about viewing this purely as India deliberately replacing Middle Eastern supplies with US volumes. A large part of the change has been driven by constrained Middle Eastern availability and the need for Indian buyers to diversify and secure replacement cargoes." "For LNG, the supplier mix has been somewhat more fluid, with India sourcing incremental cargoes not only from the US but also from other Atlantic Basin and non-traditional suppliers. So, while the US has become increasingly important, the broader story is one of supply diversification following reduced Middle Eastern availability." A brief easing of tensions between Iran and the United States has so far not produced a meaningful or sustained decline in US supplies to India, Ritolia said, noting that energy trade flows do not adjust immediately to geopolitical developments because of contractual commitments, cargoes already in transit and procurement lead times.

The increased reliance on more distant suppliers is also raising India's import costs.

"There is clearly an additional cost associated with replacing nearby Middle Eastern supply with cargoes from the US and other more distant origins," he said.

"Freight is higher because of the significantly longer voyage, while tighter global availability has also raised the underlying commodity cost." "However, I would not attribute the entire increase in India's LNG or LPG import bill to the shift towards US supplies. The increase reflects a combination of higher international prices, tighter Middle Eastern availability, freight and insurance costs, and longer supply routes. In the current environment, India is effectively paying a premium for supply security and diversification." RUSSIA REMAINS KEY CRUDE SUPPLIER ------------------------------------------- While India's LNG and LPG sourcing has shifted toward the United States, Russia continues to be the country's largest crude oil supplier despite the threat of the Graham Bill and potential secondary tariffs, Ritolia said.

India bought almost 2 million barrels per day of crude oil from Russia in August, more than three times the second-largest supplier, the UAE, at 0.61 million tonnes.

"The important distinction here is between policy risk and an immediate physical disruption to trade," he said.

"Indian refiners typically procure crude several weeks in advance, so even if policy pressure increases, the adjustment would not necessarily be visible immediately in arrival data. We do not expect Russian imports to ease currently, given the overall global crude supply situation remains constrained." "Replacing Russian crude completely would be challenging, particularly while Middle Eastern supply and logistics remain constrained. Replacing Russian barrels is technically feasible, but economically and politically fraught." Venezuelan crude has also emerged as an increasingly important component of India's supply diversification since the start of the year, although the scope for further increases is limited by the characteristics of the crude and refinery configurations.

India imported 3,83,000 barrels per day of crude from Venezuela in August.

"Venezuelan crude has also become an increasingly important part of India's diversification since the start of the year," Ritolia said.

"However, these are relatively difficult, heavy barrels and not every Indian refinery can process them continuously or in large proportions, which naturally limits how much India can absorb." More recently, Venezuelan flows into India have moderated as a greater share of available Venezuelan crude moves to the United States, he said.

"Given the strong fit of these heavier barrels with US Gulf Coast refinery configurations, competition from US refiners could limit how much Venezuelan crude remains available for India going forward." Ritolia said the more significant development in India's crude sourcing has been Venezuela rather than a surge in US crude supplies.

"India has significantly increased its intake of Venezuelan crude, while US crude supplies themselves have not seen a comparable increase." He said crude quality was an important factor. Indian refiners cannot simply replace every Russian or Middle Eastern barrel with US crude because much of the incremental US supply is relatively light, while several Indian refineries are configured to process medium and heavier crude.

"Venezuelan barrels therefore provide a useful alternative for some refiners because of their heavier quality." "So, if US and Venezuelan crude are combined, the Americas are becoming more important to India's crude basket, but the recent increase is predominantly being driven by Venezuela rather than by a major ramp-up in US crude." UAE CRUDE FLOWS PROVE RESILIENT ----------------------------------------- UAE crude supplies to India have remained comparatively resilient despite the regional disruption, supported by the country's pipeline infrastructure to Fujairah and offshore and ship-to-ship logistics that can operate outside the Strait of Hormuz, Ritolia said.

"UAE barrels continue to gain traction as the country has been relatively successful in maintaining exports despite regional disruptions, supported by its pipeline infrastructure to Fujairah and offshore/STS logistics outside the Strait of Hormuz," he said.

"This has allowed UAE crude flows to India to remain comparatively strong at a time when availability from several other Middle Eastern suppliers has been constrained." India's changing energy trade highlights a broader effort to diversify supply across crude, LNG and LPG as geopolitical disruptions reshape established trade routes.

"The broader trend across crude, LNG, and LPG is that India is being forced to cast a much wider net for energy supplies," Ritolia said.

"The US has become particularly important for LPG and LNG; for crude, Russia continues to dominate along with a steady share of UAE grades, while Venezuela and other alternative suppliers are gaining importance." "This diversification improves supply resilience, but it also comes at a cost through longer voyages, higher freight, and, in some cases, a less optimal fit with existing refinery configurations. Ultimately, India's current sourcing pattern reflects a balance between availability, economics, crude/product quality, and energy security, rather than simply a shift from one supplier to another." PTI ANZ BAL BAL

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