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    India-Finland cooperation takes centre stage at circular economy forum
    CCI imposes penalty on Rekha Agencies and SS Marketing for indulging in anti-competitive conduct in respect of Himachal Pradesh Tender 2013 for the pr...
    US is set to impose 50% tariffs on $20 billion worth of Canadian products
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August 22, 2026
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Circular economy partnerships promote resilient value chains, resource efficiency and sustainable growth alongside evolving India-EU trade integration.
India-Finland circular economy cooperation is being developed through business, technology, investment and commercial partnerships supporting resource-efficient and sustainable growth. Discussions focused on competitive and resilient value chains based on circularity, traceability, resource efficiency and sustainable business practices. Circular economy principles extend beyond waste management into product design, value chains, resource use, skills development and new business models. The India-EU free trade agreement remains subject to legal review and formal ratification and is not yet in force.
August 22, 2026
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Bid rigging through pre-bid exchange of sensitive price information attracted penalties and cease-and-desist directions in tyre procurement.
Bid rigging in tyre procurement was established where Rekha Agencies and SS Marketing exchanged commercially sensitive price-bid information before submitting bids for the Himachal Pradesh Tender 2013. The concerted conduct contravened the prohibition on anti-competitive agreements and bid rigging. Monetary penalties and cease-and-desist directions were imposed on both enterprises. An official of Rekha Agencies was also penalised for liability arising from the contravention, while proceedings against the official of SS Marketing stood abated following his death.
August 22, 2026
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Import tariffs on Canadian products trigger potential retaliatory levies after bilateral negotiations fail to reach agreement.
Import tariffs on Canadian products are set to be imposed by the United States at a 50% rate after bilateral negotiations did not produce an agreement. The measures cover products including hockey sticks and tongue depressors and affect a limited share of Canada's annual exports to the United States. Canada has indicated possible retaliatory levies, intensifying the bilateral trade dispute.
August 21, 2026
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Rupee exchange-rate movement reflected geopolitical tensions, crude oil conditions and market intervention, while export payment rules expanded rupee invoicing.
Foreign Trade Policy amendments facilitate export invoicing and receipt of payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency. The earlier general requirement that export earnings be received in a freely convertible currency is thereby eased, while applicable rules continue to vary according to destination.
August 21, 2026
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Non-controlling land-bordering country ownership permits eligible foreign investment through the automatic route, subject to sectoral conditions and reporting.
Foreign direct investment may use the automatic route where non-controlling beneficial ownership from a land-bordering country in the investor entity does not exceed 10%, subject to sectoral caps, entry routes and other applicable conditions. The beneficial ownership test applies at the investor-entity level. Eligible investors need not obtain separate prior Government approval after reporting relevant information to the Government. The framework replaces the earlier approval requirement applicable even to minimal beneficial ownership from land-bordering countries.
August 21, 2026
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Climate-resilient urban water security modernises Chennai's supply and sanitation systems through ring-main infrastructure, digital monitoring, and safer sewer operations.
Chennai Climate-Resilient Water Security and Sewerage Project modernises and expands water supply and sanitation infrastructure through a loan arrangement between the Government of India and the Asian Development Bank. Measures include new pipelines, upgraded pumping stations, performance-based utility operations, and a comprehensive ring-main system to improve water-pressure balance, distribution efficiency, reliability and climate resilience. Digital monitoring and advanced blockage-detection technology are intended to improve operational decisions, customer responsiveness and worker safety while eliminating hazardous manual sewer inspections.
August 21, 2026
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Capacity-based taxation targets undeclared pouch-packing machinery used for clandestine pan masala and tobacco production and untaxed clearances.
Capacity-based taxation of pan masala and specified tobacco products is determined by the number, type and capacity of installed pouch-packing machines. Searches at interconnected manufacturing and trading premises detected unregistered operations using undeclared machinery for clandestine manufacture and clearance of pan masala, scented jarda and gutkha without payment of GST, HSNS cess and central excise duty. Finished goods, raw materials, packing materials and machinery were seized. The manufacturing firm's proprietor was prima facie identified as managing the operation and was arrested under the applicable cess and central excise laws.
August 21, 2026
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Technology risk oversight requires Urban Co-operative Banks to retain accountability while building shared and role-specific capabilities.
Urban Co-operative Banks must strengthen digital and risk-management capabilities as technology dependence exposes them to cyber threats, fraud, service-provider failures and common-platform vulnerabilities. Outsourcing critical systems does not transfer the bank's responsibility for oversight, safeguards and continuity. Boards and senior management must retain sufficient knowledge to supervise external providers effectively. Mission SAKSHAM supports role-specific, continuous capability building through physical and online learning, while collective infrastructure and shared expertise can supplement individual institutional capacity.
August 21, 2026
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Foreign exchange market modernisation prioritises delegated decisions, customer transparency, digital workflows, local-currency settlement and accountable risk management.
Foreign exchange market modernisation advances a facilitative, principles-based framework based on delegated decision-making by Authorised Dealers, risk-based reporting, and customer-centric service standards. Authorised Dealers must apply clear internal policies, avoid unnecessary documentation, disclose charges, timelines and grievance mechanisms, and ensure consistent treatment of comparable transactions. Local-currency settlement requires viable trade corridors, competitive hedging, correspondent relationships and robust AML/CFT controls. Digital workflows, electronic trading and reporting infrastructure should improve transparency and resilience, while automated tools remain subject to explainability, review and data-protection safeguards.
August 21, 2026
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Sugar price containment measures restrict stockholding, permit duty-free imports, and strengthen inventory verification to deter hoarding.
Sugar price containment measures include stock limits for dealers, consumption-based inventory restrictions for bulk consumers, duty-free raw sugar imports, and physical verification of mill stocks to prevent hoarding and artificial scarcity. Price increases are attributed to lower domestic output, festive demand, crop damage, tighter global supplies, and speculation rather than sugar diversion for ethanol. Earlier crushing is advised to improve seasonal availability, while the ethanol programme supports management of sugar surpluses, mill liquidity, and timely sugarcane payments.
August 21, 2026
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Cross-border insolvency enforcement constrains asset recovery as Evergrande liquidation, founder asset confiscation, and audit-related claims continue.
Evergrande's insolvency process involves liquidation proceedings for its mainland property-development unit and its Hong Kong-listed holding company. Cross-border recovery is constrained by separate Hong Kong and mainland China legal systems, particularly because most operational assets are located in mainland China. Liquidators are pursuing asset-tracing and recovery measures against the founder and connected persons, as well as claims concerning pre-collapse audits. Investigations identified revenue overstatement through manipulated financial data. Creditor recoveries are expected to be limited due to substantial liabilities and constraints on asset realisation.
August 21, 2026
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Foreign exchange reserves rose through higher currency assets and gold holdings amid measures to attract external forex inflows.
India's foreign exchange reserves increased during the reporting week, led by higher foreign currency assets and gold reserves. Foreign currency assets include the dollar-value effects of movements in non-US currencies held as reserves. Special drawing rights declined marginally, while the reserve position with the International Monetary Fund increased marginally. Concessional swap arrangements formed part of measures to attract foreign-exchange inflows, while earlier reserve movements were linked to rupee pressure and dollar-sale intervention in the foreign-exchange market.
August 21, 2026
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Incremental tariff recovery aligns airport user charges with completed infrastructure, preventing passengers from funding non-operational capital projects prematurely.
User development fees and airport tariffs for Bengaluru International Airport have been revised for the April 2026 to March 2031 control period. The incremental Average Revenue Requirement framework excludes costs of identified high-value capital projects from tariffs until the relevant assets are completed, commissioned and available for users. Incremental tariff recovery may begin only upon operational availability, aligning charges with infrastructure use, reducing premature recovery risk for passengers and airlines, and encouraging timely completion of major capital works.
August 21, 2026
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Customer experience analytics enables banks to convert real-time feedback into operational improvements across high-value customer journeys.
Customer experience analytics is used in banking to transform customer data and real-time feedback into operational improvements across key customer journeys. Operational teams retain responsibility for strategy and execution, supported by in-house analytics and technology platforms for multi-channel journey mapping, journey analytics and prioritisation of high-value customer segments. AI-driven customer experience management tools capture customer signals, analyse journey performance and operationalise actionable insights across teams.
August 21, 2026
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Predicate-offence dependency limits retrospective addition of old FIRs to preserve money-laundering proceedings after the original scheduled offence is closed.
Predicate-offence dependency under the Prevention of Money Laundering Act requires an ECIR to rest on a subsisting scheduled offence. Closure of the FIR forming its basis through an accepted cancellation report prevents continuation of money-laundering proceedings unless that closure is overturned. A previously registered FIR cannot be belatedly added merely to preserve an existing ECIR and coercive powers. Where statutory requirements are met, an independently registered ECIR may be required. Expansion of an ECIR cannot rest solely on tenuous factual links between successive disputes.
August 21, 2026
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Indian rupee export invoicing rules now permit overseas contracts and invoices in rupees or foreign currency for eligible destinations.
Foreign Trade Policy provisions were amended to facilitate invoicing of overseas exports and receipt of export payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency, replacing the earlier general requirement that export earnings be received in a freely convertible currency. The applicable requirements vary according to the destination country.
August 21, 2026
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Dealer inventory financing supports working-capital flexibility, vehicle inventory management and electric-vehicle network expansion for authorised dealers.
Dealer inventory financing is to be provided by Federal Bank to VinFast India's authorised dealer network under a memorandum of understanding. The tailored financing is intended to improve dealers' working-capital flexibility, support maintenance of vehicle inventory, strengthen operational capability, and enable timely response to demand as the electric-vehicle distribution network expands.
August 21, 2026
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Sugar supply pressures drive festive-season price increases as imports, stockholding limits and ethanol diversion shape market conditions.
Sugar prices in Bengal have risen sharply ahead of the festive season, with higher prices also affecting jaggery and other sugar-derived products. Supply constraints, mill stock releases, lower production in Brazil, ethanol diversion and possible hoarding have been identified as contributing factors. Raw-sugar imports have been permitted to augment availability, while stockholding restrictions limit inventories of specified bulk consumers. Lower projected closing stocks and possible future production effects from El Nino may sustain pressure on sugar availability and increase costs for sweetmeat producers.
August 21, 2026
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
The rupee strengthened marginally against the US dollar as the dollar index softened, but elevated crude oil prices, geopolitical uncertainty, reduced foreign participation and net foreign equity outflows constrained currency sentiment. RBI measures to attract foreign currency inflows, including FCNR(B) deposits, were expected to generate substantial inflows, although these had not produced meaningful rupee strength. Energy-market disruption and restrictions on fuel exports through the Strait of Hormuz added to external-sector pressures.
August 21, 2026
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Sovereign security production priorities emphasise compliance, modernisation, employee innovation and operational excellence across currency, passport and coinage manufacturing.
SPMCIL performs a sovereign production mandate covering secure currency, coinage, passports and other products of national importance through its mints, currency presses, security presses and paper mill. Modernisation, compliance, transparency, efficiency, productivity, quality and corporate governance support the fulfilment of sovereign requirements. Individual employees and units were recognised for performance in productivity, environment and safety, energy conservation, knowledge and development, vigilance, and official-language implementation.

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Customs, DGFT & SEZ

Minister of State for Commerce and Industry and Electronics & Information Technology Shri Jitin Prasada Concludes Official Visit to Morocco; Co-Chairs 7th India–Morocco Joint Commission

August 27, 2026

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Shri Prasada Strengthens India–Morocco Economic Partnership; 7th Joint Commission Gives Fresh Momentum to Trade and Investment Cooperation

India–Morocco Agree to Double Bilateral Trade in Five Years; Joint Working Group to Explore Preferential Trade Agreement

India–Morocco to Mark 70th Anniversary of Diplomatic Relations in 2027; 8th Joint Commission to be Held in New Delhi

Shri Jitin Prasada Invites Moroccan Businesses to Invest in India; Highlights Opportunities in AI, EVs, Renewable Energy, Healthcare and Pharmaceuticals

Minister of State for Commerce and Industry and Electronics & Information Technology, Shri Jitin Prasada, concluded a successful official visit to the Kingdom of Morocco from 24 to 25 August 2026, during which he held a series of bilateral meetings with senior Moroccan Ministers and dignitaries. During the visit, he co-chaired the meeting of the 7th Session of the India–Morocco Joint Commission with his counterpart, H.E. Mr. Omar Hejira, Secretary of State to the Minister of Industry and Trade, in charge of Foreign Trade, Kingdom of Morocco.

India and Morocco have an enduring and mutually beneficial partnership that has gained strong strategic momentum under the leadership of  Prime Minister Shri Narendra Modi and His Majesty King Mohammed VI.

During his visit, Shri Jitin Prasada participated in the Morocco–India Business Forum, held bilateral meetings with senior Moroccan Ministers, engaged with the Indian business community and visited the manufacturing facility of India-Maroc Phosphore (IMACID), a joint venture of Morocco’s OCP Group with Indian partners, to review the longstanding India–Morocco partnership in phosphates and fertilisers.

Shri Prasada was accompanied by a high-level business delegation led by the Confederation of Indian Industry, which held fruitful meetings with the Chamber of Commerce, Industry and Services of Rabat-Salé-Kénitra, as well as the General Confederation of Moroccan Enterprises (CGEM).

7th India–Morocco Joint Commission Meeting

The 7th India–Morocco Joint Commission provided renewed momentum to the bilateral economic partnership and established an expanded framework for cooperation aimed at increasing trade, strengthening market access, promoting investment and industrial partnerships, and creating new opportunities for Indian and Moroccan businesses.

The two sides reviewed progress in bilateral economic and commercial relations and agreed to further deepen and diversify cooperation across trade, investment, industry, fertilisers, agriculture, pharmaceuticals, energy, mining, digital transformation, transport and other areas of mutual interest. Bilateral trade reached around USD 4 billion in 2025, reflecting the sustained strengthening of economic and trade relations between the two countries. Both countries reaffirmed their commitment to further strengthening their longstanding friendship and strategic partnership.

Both sides underscored that diversification of the trade basket and expansion of market access in both goods and services would help unlock the considerable untapped potential of the bilateral economic relationship. They agreed to work towards doubling bilateral trade over the next five years.

To achieve this, both countries emphasised that regular exchanges of business delegations, prospecting missions and networking activities would contribute to identifying new business opportunities, facilitating market access and promoting sustainable partnerships and joint ventures between Moroccan and Indian companies.

Potential areas identified for enhanced trade included fertilisers and chemicals, mineral resources, machinery and electrical equipment, automotive parts and vehicles, building materials, polymers, agri-food products, tea, metals and tourism. Both countries also agreed on the importance of facilitating predictable and timely market access for pharmaceutical products.

To provide an institutional mechanism for advancing this agenda, the two sides agreed to establish an India–Morocco Joint Working Group (JWG) to explore opportunities for developing bilateral trade and the feasibility of a preferential trade agreement between India and Morocco. The JWG will also examine tariff and non-tariff barriers and explore opportunities for improved market access and trade facilitation for goods and services.

The two sides agreed to work jointly to address regulatory and market-access issues faced by Indian pharmaceutical companies, including market authorisation procedures and approval timelines, with a view to facilitating bilateral trade and strengthening pharmaceutical cooperation. The Indian side raised market-access concerns relating to key products for export and the ongoing investigations concerning imports of ceramic tiles from India.

The two sides emphasised the importance of strengthening business-to-business engagement, reciprocal participation in trade fairs and exhibitions, business forums and investment-related activities. They also agreed to strengthen the role of the Morocco–India Business Council and the Morocco–India Chamber of Commerce and Industry in fostering partnerships between the private sectors of the two countries.

In agriculture, the two sides agreed to strengthen cooperation in sustainable agriculture, food security, SPS measures, food safety, agricultural research, digital agriculture, biotechnology and agricultural value chains.

The two sides welcomed the signing of the Memorandum of Understanding between the National Office of Food Safety (ONSSA), Morocco and the Food Safety and Standards Authority of India (FSSAI) on Cooperation in the Field of Food Safety. The MoU provides a framework for the exchange of information, technical expertise and best practices, capacity building and activities aimed at facilitating safe and sustainable bilateral trade.

The two sides also signed the Cultural Exchange Programme for the years 2026–2030 during the Joint Commission Meeting. The programme will promote cultural exchanges and collaboration through artist and professional exchanges, participation in festivals and exhibitions, cooperation in heritage conservation and strengthened linkages among museums, libraries and archival institutions.

The two countries noted that the 70th anniversary of the establishment of diplomatic relations in 2027 will provide an opportunity to further promote cultural exchanges and people-to-people ties.

The two sides agreed to hold the 8th Session of the India–Morocco Joint Commission in New Delhi, on a date to be mutually agreed through diplomatic channels.

Morocco–India Business Forum: Priority Areas for Investment and Partnerships

At the Morocco–India Business Forum, hosted by the General Confederation of Moroccan Enterprises (CGEM) in Casablanca on 24 August 2026, Shri Jitin Prasada highlighted key areas for enhanced business and investment cooperation, including automotive, artificial intelligence, renewable energy, start-ups and finance, fertilisers and chemicals, healthcare and pharmaceuticals.

Shri Prasada highlighted opportunities for deeper collaboration in automotive value chains, including EV components and precision sub-assemblies; renewable energy, including solar, energy storage and grid management; start-ups, fintech and finance; artificial intelligence; healthcare; and pharmaceuticals, including hospitals, diagnostics, pharmaceuticals, medical devices and digital health.

Shri Jitin Prasada highlighted the opportunities offered by India’s rapidly growing economy and invited Moroccan businesses to invest in India, build joint ventures and participate in India’s growth story.

He noted that under the vision of Hon’ble Prime Minister Shri Narendra Modi and Viksit Bharat 2047, India is building a modern and globally integrated economy, offering significant opportunities for enhanced India–Morocco business and investment partnerships.

OCP–India Partnership: Strengthening Cooperation in Phosphates and Fertilisers

Shri Jitin Prasada visited India-Maroc Phosphore (IMACID), a joint venture of Morocco’s OCP Group with Indian partners, and reviewed the longstanding India–Morocco partnership in phosphates and fertilisers.

The two sides welcomed the strong and enduring cooperation in this strategic sector, including the joint ventures between the OCP Group and Indian partners, namely Paradeep Phosphates Limited and Indo-Maroc Phosphore (IMACID).

The OCP team underscored their commitment to the Minister for the supply of phosphates and fertilisers as per the requirements of the Indian farming sector. The visit reaffirmed the importance of the partnership in supporting India’s fertiliser supply chains and strengthening cooperation across the phosphates and fertilisers sector.

High-Level Bilateral Meetings: Advancing Trade, Investment and Digital Cooperation

Shri Jitin Prasada held bilateral meetings with H.E. Mr. Omar Hejira, Secretary of State for Foreign Trade, and H.E. Mr. Riyad Mezzour, Minister of Industry and Trade, Morocco.

He also met H.E. Mr. Karim Zidane, Minister Delegate for Investment, and H.E. Dr. Amal El Fallah Seghrouchni, Minister Delegate for Digital Transition and Administrative Reform.

The discussions focused on strengthening bilateral cooperation in trade, investment, industry and digital transformation, and on identifying new areas for mutually beneficial economic engagement, especially in Artificial Intelligence.

Engagement with Indian Business Community and People-to-People Ties

Shri Jitin Prasada interacted with the Indian business community and members of the Indian community in Morocco and highlighted the important role of the community in strengthening India–Morocco ties.

He encouraged Indian businesses to further expand their engagement with Morocco and deepen partnerships across sectors, while emphasising the potential for greater collaboration between Indian and Moroccan enterprises.

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