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July 16, 2026
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Section 301 tariff authority offers a procedurally constrained route to replace temporary global import tariffs after emergency powers failed.
Import-tariff authority is shifting from emergency-based measures to temporary and investigatory powers under the Trade Act of 1974. Section 122 supports a global tariff measure only for a limited period, whereas Section 301 permits tariffs or trade sanctions for unjustifiable, unreasonable, or discriminatory foreign trade practices after required public-comment and hearing procedures. Current Section 301 investigations concern forced-labour imports and alleged overproduction by trading partners. A more rule-bound tariff framework may reduce, but not eliminate, commercial uncertainty, and broad use of Section 301 for near-universal tariffs may face legal challenge.
July 16, 2026
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International food-safety and phytosanitary compliance supports premium cherry and plum exports from Jammu and Kashmir to Singapore.
Export of premium cherries and plums from Jammu and Kashmir to Singapore was facilitated to expand overseas market access for temperate fruits. The produce underwent scientific cultivation, optimum-maturity harvesting, grading, sorting, packing and cold-chain handling in compliance with international food-safety and phytosanitary standards. The initiative highlights quality enhancement, market development, logistics, export-oriented production and improved post-harvest management for horticultural exports.
July 16, 2026
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Electricity bill recovery and prepaid departmental billing are presented alongside independent tariff regulation and rooftop solar promotion.
Electricity-payment arrears were reported against government departments and non-government consumers. Tariffs are determined independently by the State Electricity Regulatory Commission on factors including power-purchase costs, regulatory assets, the distribution company's financial position and public hearings. Recovery from non-government consumers is undertaken under the Electricity Supply Code, while a pre-paid billing system is being implemented for government departments to improve payment compliance. Rooftop solar installations are also being promoted to reduce household electricity bills.
July 16, 2026
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Rupee depreciation pressures intensify as elevated crude prices, foreign capital outflows and geopolitical tensions weigh on exchange markets.
The rupee weakened for a fourth consecutive session amid elevated crude oil prices, a stronger dollar index and foreign capital outflows, with rising oil import costs adding to balance-of-payments pressures. Reserve Bank of India data showed an overall balance-of-payments deficit during the first two months of the fiscal year, although the current account recorded a surplus for April-May 2026. Geopolitical tensions and Strait of Hormuz risks were cited as supporting high crude prices, while possible Reserve Bank intervention could support the rupee.
July 16, 2026
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Zero-duty India-UK trade under CETA begins with jewellery and coffee consignments, supported by exporter compliance guidance.
India-UK CETA introduced a low- or zero-tariff regime covering about 99 per cent of tariff lines for Indian exports to the United Kingdom. Initial zero-duty jewellery and coffee consignments reached the UK under the agreement. CETA is intended to improve market competitiveness, strengthen supply chains and support businesses, exporters, importers and investors. A dedicated facilitation forum and a guide to UK import standards and regulatory requirements support Indian exporters, particularly small and medium enterprises, in navigating the post-CETA trading regime.
July 16, 2026
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Foreign investor tax exemptions on government securities are proposed to continue, supporting sovereign debt market liquidity and capital inflows.
Income-tax exemption for foreign investors in government securities is proposed to continue through the Income-tax (Amendment) Bill, 2026, replacing the corresponding ordinance. The ordinance exempted interest income and capital gains from the sale, exchange or transfer of government securities by foreign investors, effective from 1 April. The measure seeks to attract foreign capital, deepen the sovereign debt market and improve liquidity amid global economic volatility. The legislative agenda also includes MSME reforms concerning delayed-payment redressal, enforcement of arbitral awards and State flexibility in constituting facilitation councils.
July 16, 2026
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Foreign asset reporting requires complete Schedule FA and Schedule FSI disclosures despite limited information displayed in the Annual Information Statement.
Annual Information Statement records for eligible taxpayers include foreign assets and foreign-source income information received through the Automatic Exchange of Information framework. The information is intended to facilitate accurate tax compliance and is not a scrutiny or investigation mechanism. As the displayed data is limited to information received from partner jurisdictions and is not exhaustive, taxpayers must correctly and completely disclose all foreign assets and foreign-source income in Schedule FA and Schedule FSI, whether or not such information appears in the Annual Information Statement.
July 16, 2026
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Donation management safeguards require transparent accounting, secure precious-metal handling, audits and adherence to prescribed banking and statutory norms.
Donation-management governance at the Vaishno Devi shrine was reviewed with emphasis on transparency, accountability and compliance with standard operating procedures. The review covered collection, counting, accounting, custody and utilisation of offerings, supported by verification procedures, surveillance, banking safeguards and periodic audits. Security protocols also govern the handling, storage, transportation, processing and refining of precious-metal offerings. The review took place amid a pending complaint alleging irregularities in silver offerings, with complete records sought regarding action taken.
July 16, 2026
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EPFO-integrated provident fund payments streamline statutory compliance through digital banking, with real-time confirmations and instant challan downloads for businesses.
EPFO-integrated provident fund payment service enables business customers to initiate statutory PF payments through the EPFO portal and complete transactions using the bank's internet banking platform. Real-time transaction confirmations and instant challan downloads support faster processing, cash-flow management and timely compliance with EPFO payment requirements.
July 16, 2026
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Privileged access governance and explainable security monitoring support auditable, sovereign enterprise cybersecurity across private and air-gapped deployments.
Swaraj Nandi provides privileged-access management through credential vaulting, automated rotation, Zero-Trust approvals, multi-factor authentication, session recording and audit reporting. Swaraj Hansa provides AI-assisted security information and event management by collecting, correlating and triaging security signals with explainable alerts and human-owned decisions. Both platforms support on-premise, private-cloud and relevant air-gapped deployment models, and their compliance architecture is mapped to the RBI IT Framework, SEBI CSCRF, DPDP Act, PCI-DSS, ISO 27001 and NIST CSF.
July 16, 2026
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Money-laundering investigation targets alleged foreign-funded network facilitating illegal infiltration, forged identity documents and economic rehabilitation of immigrants.
A money-laundering investigation examined an alleged syndicate facilitating illegal infiltration, forged Indian identity documents and settlement of Bangladeshi nationals and Rohingyas. Investigators alleged that public charitable trusts receiving foreign contributions channelled funds through multiple bank accounts, mule accounts and layered transactions to support economic rehabilitation through cash assistance, employment and income-generating arrangements. Searches were conducted under the Prevention of Money Laundering Act.
July 16, 2026
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Money-laundering investigation examines alleged foreign-funded networks supporting illegal infiltration, forged documents, and economic settlement of migrants.
A money-laundering investigation concerns an alleged network facilitating illegal entry and settlement of Bangladeshi and Rohingya nationals. The alleged scheme involved forged identity and travel documents, charitable trusts receiving overseas contributions, and diversion of funds through bank accounts, mule accounts and layered transactions. Suspected fund use included settlement support, documentation, employment, cash assistance and income-generating assets. Searches examined the alleged infiltration, documentation and financial-support network.
July 16, 2026
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Agentic AI innovation centre enables consumer businesses to co-create, test and scale enterprise AI solutions across operational functions.
TCS launched a Gemini Experience Centre in Kolkata with Google Cloud to enable consumer businesses to co-create, test and scale AI-led solutions. The centre showcases agentic AI applications for store operations, supply-chain management, omni-channel retail and customer service, serving retail, consumer packaged goods, travel, tourism and hospitality enterprises. The initiative uses Gemini Enterprise-based industry- and context-aware AI agents and seeks to accelerate agentic AI adoption and support movement from AI pilots to enterprise-scale deployment.
July 16, 2026
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Cost Inflation Index enables inflation-adjusted long-term capital gains calculations through indexed acquisition cost for eligible capital asset transfers.
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July 16, 2026
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India-EU industrial and technology cooperation advances through trade facilitation, resilient supply chains, digital innovation and expanded market access.
India-EU industrial and technology cooperation was advanced through engagements addressing industrial collaboration, technology partnerships, bilateral trade opportunities and business-to-business cooperation. Discussions covered trade facilitation, investment flows, supply-chain resilience, digital innovation, competitiveness and regulatory challenges. The interactions emphasised industry-led growth, greater market access for Indian enterprises and innovation-driven partnerships under the Trade and Technology Council framework.
July 16, 2026
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Preferential India-UK trade framework introduces broad zero-duty export access, self-certified origin documentation, and social-security contribution relief for temporary professionals.
India-United Kingdom CETA entered into force with preferential tariff treatment, including zero-duty access in the United Kingdom for nearly 99 per cent of India's exports. The Agreement covers goods, services and cooperation in customs, digital trade, financial services, telecommunications, intellectual property and professional services. The associated Agreement on Social Security exempts Indian professionals on temporary United Kingdom assignments from double social-security contributions for up to five years. Rules of Origin certification was operationalised through self-certified Certificates of Origin issued on the eCoO 2.0 platform.
July 16, 2026
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Labour market indicators showed stable overall participation, employment and unemployment, with marginal urban improvement and softer rural unemployment.
Monthly labour-market estimates for persons aged 15 years and above, compiled under the Current Weekly Status approach, show stable overall labour-force participation, worker population ratio and unemployment rate in June 2026. Urban labour-force participation and worker population ratio improved marginally, while rural participation and employment remained stable. Female labour-force participation was broadly stable month-on-month. Rural unemployment eased slightly, urban unemployment rose marginally from the preceding month, and urban unemployment declined on a year-on-year basis.
July 16, 2026
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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.
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Customs & Trade

The US and Canada could pull back from an all-out trade war. It's not clear that they will

August 26, 2026

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Washington, Aug 26 (AP) The US and Canada have ramped up their trade war, hitting each other with steep new tit-for-tat tariffs. Despite the bravado coming from both sides of the border, though, analysts suspect the longtime allies will eventually strike a deal to end a conflict neither really wants.

The prospects for compromise looked bleak Tuesday, with Canadian Prime Minister Mark Carney reacting to new 50% US tariffs on certain Canadian goods by responding in kind on about $20 billion worth of American imports, including steel, dairy products, appliances and farm equipment.

"You're at war when you get attacked. We got attacked,'' Carney, who came to power last year on the promise that he'd stand up to US President Donald Trump, said over the weekend.

Doug Ford, Ontario's populist premier, told The Associated Press on Monday that he was ready to escalate even further by cutting off his province's shipments of electricity and critical minerals to the United States.

Soon after, Trump declared his intention to hammer the Canadian auto industry with another set of import taxes if the Canadians don't “fall in line.'' With the breakdown threatening to harm one of the world's largest trading relationships and clouding efforts to renew the United States-Mexico-Canada Agreement that Trump negotiated during his first term, experts cautioned that there's still time to pull back from the brink of an even bigger trade war.

They've done it before. “If there is political will, there is an off ramp,'' said former US trade negotiator Wendy Cutler.

'It's not real until somebody walks away' ------------------------------------------- US-Canada trade talks typically get testy, said Christopher Sands, who heads the Center for US-Canada Studies at Johns Hopkins University.

The two neighbors have a long history of sparring over things like Canada's protected dairy market and subsidized softwood lumber exports.

“We've gone through this with Canadians before,'' Sands said. “It's almost like it's not real until somebody walks away from the table. ... I'm not panicked.'' There are reasons to think something can be salvaged from the rubble of bilateral trade talks that collapsed Friday.

First, the US tariffs that Trump imposed Saturday cover just $20 billion worth — around 5% — of Canada's exports to the United States and are unlikely to do much lasting economic damage. Oxford Economics reckons the trade conflict would reduce Canadian economic growth only slightly next year — from a previously forecast 1.6% to 1.4%. On Monday, US Trade Representative Jamieson Greer even tried to downplay the trade rift as a “tempest in a teapot.'' Moreover, Carney's retaliatory tariffs wouldn't take effect until Sept. 8. “That gives us this week. It gives us next week,'' Sands said. “Time to take a breather and talk about how to avert'' an all-out trade war.

Despite Trump's tough talk on Truth Social, his punitive auto tariffs wouldn't kick in until Jan. 1 — well after the Nov. 3 midterm elections in which the president's Republican Party is hoping to keep full control of Congress despite voter frustration with the high cost of living.

So there's at least enough time for the countries to find a stopgap solution.

Cutler, now senior vice president at the Asia Society Policy Institute, suggested that the US could tap an emissary that both countries trust to get talks back on track; she recalled that Trump's son-in-law Jared Kushner helped negotiate the USMCA eight years ago.

Canada would likely balk at a one-sided deal ------------------------------------------------ Cutler also noted that Trump suspended his global tariffs for months last year to allow US trading partners to negotiate with him. Many did, including the European Union and Japan, and ended up agreeing to lopsided trade agreements to dodge the worst of Trump's tariffs.

Canadians, though, are in no mood for a Trump-friendly trade deal.

The American president has enraged the Canadian public with inflammatory talk of making their country the 51st US state. And on Tuesday, instead of trying to lower the temperature, he declared that he was considering changing the name of Lake Ontario to Lake America. He has also repeatedly hit Canada with tariffs and threats of them, including when he suggested he might punish Canada for wildfires that were blackening US skies.

“Fighting with Washington is hugely popular in Canada right now,” said Scott Lincicome of the Cato Institute, a Washington-based free-trade think tank. “Guys like Doug Ford — like him, love him or hate him — understand this is a political winner for them.'' The latest US-Canada conflagration flared up last month when Trump said he planned to hit Canada with 50% tariffs. He complained that Canada had been unfairly restricting US exports of dairy, alcoholic beverages and autos. Trump set a deadline of Aug. 19 — last Wednesday — for the two countries to reach a deal and head off the tariffs.

Because the Supreme Court struck down his biggest tariffs in February, the president turned this time to an obscure provision of a Depression-era trade law that gives him the power to impose tariffs of up to 50% on imports from countries that have discriminated against US businesses. No investigation is required, nor is there any limit on how long the tariffs can last. But no president has ever imposed such tariffs before, so they are untested in court.

No choice' but to walk awayLast week, negotiators appeared to be close to resolving their differences. Less than two hours before levies were set to take effect, Trump announced a three-day reprieve, posting on social media that “Canada and the USA., subject to the finalization of documents, have a DEAL!” Greer, the US trade representative, later told CNBC that the United States had offered to cut in half existing 50% tariffs on Canadian steel and aluminum, and to sharply reduce levies on Canadian auto and softwood lumber imports.

But it all fell apart Friday and the Canadians walked away, with Carney saying the Americans had sought “to destroy our major industries, including autos, steel and aluminum. ... That was one of the main reasons we said no. It was a bad deal.'' Carney also said that Washington viewed protections for French and Canadian culture — considered fundamental rights in Canada — as irritants to trade.

Ford said he understood that late in the talks, Washington demanded veto power over trade deals Canada pursued with other countries, which would have violated Canadian sovereignty.

Despite the differences, Cato's Lincicome said, “both sides understand the economic consequences of some sort of a full-blown trade war.'' The two countries last year did $880 billion worth of trade, according to the U.S Commerce Department. Canada sends 72% of its exports to the United States. And US communities along the border depend on Canadian electricity. American farmers need Canadian potash fertilizer. And US refineries in the Midwest rely on imports from Alberta's oil sands deposits.

Then there's US politics. “Voters hate tariffs,” Lincicome said. “They associate them with higher cost of living, and (Trump has) got to be hearing from political folks that if he wants any chance of salvaging the midterms he can't start a trade war with Canada.

“My guess — and it's only a guess — is that cooler heads do prevail somewhere in the next few weeks.'' (AP) AMS

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