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    Need one or two Indian pharma firms to be among global top 5: PM Modi
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August 15, 2026
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Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
August 15, 2026
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Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
August 15, 2026
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Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
August 15, 2026
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Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
August 15, 2026
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Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.
August 14, 2026
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Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
August 14, 2026
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Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
August 14, 2026
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Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
August 14, 2026
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Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
August 14, 2026
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Wholesale and producer price indices show July inflation movements, provisional estimates, final revisions, and manufacturing input-price trends.
Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.
August 14, 2026
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Logistics data visibility enables EXIM container tracking, operational analytics and multimodal shipment monitoring across India's logistics chain.
Logistics Data Bank provides near real-time visibility of India's EXIM container movement through technology-based tracking and stakeholder monitoring tools. RFID-based coverage extends across ports, terminals, inland logistics facilities, rail networks, industrial zones, borders and highways. The platform uses RFID, Internet of Things, Big Data and Cloud technologies, with analytics on dwell time, transit time, and port and terminal performance to identify logistics bottlenecks. LDB 2.0 adds high-seas tracking of export containers and multimodal shipment visibility.
August 14, 2026
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International organic buyer-seller linkages support Tripura producers through direct sourcing engagement, market access and sustainable export opportunities.
International Organic Buyer-Seller Meet in Tripura created a direct platform for organic producers, Farmer Producer Organisations, exporters and international buyers to explore sourcing opportunities, market requirements and long-term commercial linkages. Organic and naturally produced goods, including Queen Pineapple, GI-tagged Kalikhasa Rice, organic ginger and turmeric, black sesame, jackfruit and scented lemon, were showcased through product displays and producer interactions. The initiative seeks to strengthen global market access, sourcing partnerships and income opportunities for organic farmers.
August 14, 2026
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Wholesale price inflation moderation was driven by softer fuel prices, while manufactured goods and primary articles recorded higher inflation.
Wholesale price inflation moderated in July, led by a decline in fuel and power inflation and a marginal easing in food-article inflation. Inflation in manufactured products and primary articles increased, making the moderation uneven across groups. Mineral oils, food articles, basic metals, non-food articles, food products, and chemical products remained significant inflation drivers. The output Producer Price Index remained unchanged year-on-year, with lower manufacturing and mining inflation offset by higher agriculture and electricity producer-price inflation.
August 14, 2026
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International investment-grade issuer ratings support expanded foreign-currency funding, trade finance, correspondent banking and cross-border financial market access.
IDFC FIRST Bank's inaugural international investment-grade issuer credit ratings, with a stable outlook, are expected to improve access to international funding markets and global financial counterparties. The rating is intended to support standby letter of credit lines, foreign-currency funding through its GIFT City International Banking Unit, mobilisation of FCNR(B) deposits, correspondent banking relationships and cross-border trade finance. Strong capitalisation, improving profitability, stable asset quality and a granular retail funding profile underpin the outlook.
August 14, 2026
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Clandestine psychotropic drug manufacturing faces enforcement targeting precursor chemicals, concealed laboratories, illicit production networks and trafficking operations.
Enforcement action against clandestine manufacture of psychotropic substances led to the detection of a residential drug-production facility. Searches recovered amphetamine and intermediary forms, precursor chemicals, reagents, raw materials, and manufacturing equipment. Field testing indicated the presence of amphetamine, a psychotropic substance regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985. The recovered apparatus and materials indicated illicit manufacture, while preliminary investigation pointed to short-term, intermittently operated facilities intended to conceal production activities.
August 13, 2026
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International banking unit expands cross-border financing, trade finance and foreign-currency service access through GIFT City operations.
UCO Bank has launched an International Financial Services Centre Banking Unit at GIFT City to provide permitted international banking services. The unit offers trade finance, external commercial borrowings, foreign-currency loans, loan syndication, treasury services and other permitted financial services. It serves Indian corporates, exporters, importers, financial institutions, overseas businesses and other eligible customers requiring cross-border financing and access to global financial markets. FCNR(B) deposits are also offered through the unit.
August 13, 2026
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Last-mile credit access is prioritised through timely lending, wider beneficiary coverage, digital support and stronger fraud vigilance.
Banking-sector participation is emphasised through last-mile credit access for MSMEs, women entrepreneurs, rural artisans, small farmers and other underserved beneficiaries. Banks are urged to expedite government-scheme applications, maximise coverage and use technology for timely financial support. Industrial-policy assistance and incentives cover startups, SC/ST entrepreneurs, persons with disabilities and first-generation entrepreneurs. Greater coordination, expanded village banking access, and vigilance against cyber fraud and mule accounts are also prioritised.
August 13, 2026
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Merchandise trade growth saw rising exports to major markets alongside increased imports and continuing United States trade-pact negotiations.
India's merchandise trade data records increased July exports to the United States and China, alongside growth in imports from both markets. Exports to Singapore, the United Arab Emirates, the Netherlands, Germany, South Africa, Tanzania, Australia, Malaysia, Sri Lanka, Italy and Vietnam showed positive growth, while July exports declined for the United Kingdom, Bangladesh, Saudi Arabia and Nepal. Imports also increased from Russia, Korea, Singapore, Germany, Oman, Malaysia, Taiwan and Brazil. India and the United States are negotiating a trade pact amid an additional United States tariff on India.
August 13, 2026
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GST transport documentation enforcement addresses freight movement of metals without valid e-way bills and invoices under applicable rules.
GST enforcement action led to the seizure of copper and aluminium ingots transported by freight train without valid e-way bills and invoices. The metals were found in three train wagons during inspection of parcel cargo. Further proceedings are to be undertaken under applicable GST rules concerning movement of goods without prescribed transport documentation.
August 13, 2026
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Merchandise trade deficit widens as import growth outpaces exports despite strong petroleum, electronics and engineering shipments.
Merchandise trade in July 2026 saw exports rise 19.63 per cent and imports increase 17.52 per cent, widening the trade deficit to a six-month high. Petroleum products, electronics, engineering goods and marine goods supported export growth, while crude oil and several commodity and capital-goods categories increased imports. During April-July 2026-27, faster import growth widened the cumulative merchandise trade deficit compared with the corresponding prior-year period.

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Customs, DGFT & SEZ

DRI intensifies crackdown on gold smuggling in pan-India operations; seizes around 41 kg foreign-origin gold worth Rs. 62 crore (approx.); 24 persons, including three foreign nationals, arrested

September 10, 2026

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Operations expose sophisticated methods of concealment and organised smuggling networks operating through airports, rail routes and the Indo-Bangladesh border

Continuing its sustained crackdown on organised gold smuggling, the Directorate of Revenue Intelligence (DRI) has seized around 41 kg foreign-origin gold, cumulatively valued at around Rs 62 crore in six intelligence-led operations in recent days. The operations have resulted in the arrest of 24 persons, including three foreign nationals, and have exposed sophisticated methods of concealment and organised smuggling networks operating through airports, rail routes and the Indo-Bangladesh border.

In a major operation in Delhi, officers of DRI conducted simultaneous searches, on 07.09.2026, at premises linked to a person involved in the procurement and conversion of foreign-origin gold. A manufacturing  facility with machinery for melting, rolling and die-cutting gold was found at a residential premises. Four foreign-origin gold bars, each weighing 1 kg  along with around 6.2 kg gold chains made from smuggled gold bars, were recovered, taking the total seizure to 10.2 kg (approx.) of gold. One person, who owned the manufacturing facility, was arrested.

Four foreign-origin gold bars seized in Delhi

In a separate operation on 08.09.2026, DRI officers in Delhi intercepted a vehicle coming from Punjab and recovered and seized 1.21 kg gold along with foreign currency valued at approximately Rs. 43.50 lakh;  One person was arrested.

Earlier, on 05–06.09.2026, DRI, in coordination with BSF, seized 89 pieces of foreign-origin gold bars weighing around 11.3 kg recovered from a person near the Indo-Bangladesh border at BOP Halderpara. As the person could not produce documents for lawful possession, the gold was seized under the Customs Act, 1962. The apprehended person admitted his involvement in smuggling and was arrested under the relevant provisions of the Customs Act, 1962.

11.3 kgs Gold seized at Indo-Bangladesh border

Four defaced foreign-origin gold bars seized at Howrah Railway station

In another seizure in West Bengal, on 03–04.09.2026, DRI officers intercepted a passenger travelling under a different name at Howrah Railway Station. Four defaced foreign-origin gold bars, weighing 4.6 kg  were recovered from a specially designed cloth belt concealed around the body. Investigation revealed that the gold had been melted and converted into defaced bars for onward delivery to Mumbai. Both the passenger and his associate were arrested.

In Mumbai, officers of DRI busted a well-organized syndicate involving transit passengers airport staff and recipient/handler. On 09-10.09.26, DRI officers intercepted an airport staff involved in the receipt and clandestine removal of the smuggled gold from the airport, after a hot pursuit of approximately 50 km following his surreptitious exit from the airport in a car. Upon search, he was found in possession of three capsules containing gold dust in wax form. The investigations revealed the gold capsules had been handed over to him in the transit area by a transit passenger and involvement of another female airport staff. In swift follow up operation two transit passengers were intercepted at Mumbai Airport while they were handing over the five gold capsules to the airport staff. The transit passengers had arrived from Muscat and Dubai for onwards journey to Bangkok after the delivery of the smuggled gold. A female airline staff, for her involvement in clandestine removal of the smuggled gold from the airport along with the recipient of the goods were also apprehended.

In all, 8 capsules containing gold dust in wax form, weighing 3.47 kg in net weight, were recovered and seizedFive persons, comprising two transit passengers, two airport staff members, and one recipient were arrested. The operation once again highlights that organised networks are increasingly exploiting transit routes and airport personnel for clandestine removal of smuggled gold.

Eight capsules with Gold in paste form seized at Mumbai

Earlier, in two separate operations on 31.08.26 and 06.09.2026, officers of DRI seized 1.6 kg foreign-origin gold from a passenger travelling by a train from Kolkata to Mumbai, leading to his arrest. In second operation, an arc-shaped 24-carat gold bar weighing around 700 grams was recovered from the motor of a treadmill imported from Hong Kong. Follow-up searches in Mumbai, Chennai, Tiruvallur and Chengalpattu led to the recovery of other dismantled machines and tools used for concealment. Two persons, including a Chinese national, were arrested

Gold recovered from a motor of a tread mill in Mumbai

On 8-9.09.26, DRI, in coordination with Chandauli Police, Uttar Pradesh, took over the proceedings involving recovery of 22 foreign origin gold bars concealed in a box beneath the gearbox of the car. The occupants of the car could not produce documents in support of licit possession of recovered gold. The preliminary investigations indicated that  the recovered gold had been smuggled from Bangladesh. Accordingly, the recovered gold weighing around 2.56 kg, was seized and both the persons were arrested by DRI under the provisions of the Customs Act, 1962.

22 gold bars seized by DRI Varanasi

On 8-9.09.26, DRI officers intercepted one passenger, who was found to be travelling on a fake identity, at the domestic arrival area of Kempegowda International Airport Bengaluru, who was suspected to have retrieved smuggled gold concealed inside an aircraft. On examination, five gold bar cut-pieces weighing around 1 kg were recovered from his baggage, One person  was arrested.

In Chennai on 30.08/01.09.2026, DRI officers, acting on specific intelligence, intercepted two passengers arriving from Sri Lanka at Chennai International Airport in two different flights. Eight capsules containing gold in paste form were recovered through rectum concealment; extraction yielded 2.5 kg 24-carat gold. Investigation revealed insider collusion of airport staff.. Six persons, including the two foreign passengers, were arrested in this case.

8 Capsules seized in Chennai

In two separate operations in Calicut on 01–02.09.2026, DRI officers seized 1.7 kg gold. In one case at Calicut International Airport, 770 grams of gold was extracted from gold-containing compound concealed in two capsules and a packet hidden inside the diaper worn by the passenger’s infant daughter. In another case, around 1 kg of 24-carat gold piece was recovered from the heavy metallic ring portion of a coffee machine carried in checked-in baggage by a passenger arriving from Dubai. Two persons were arrested.

Gold concealed in Coffee Machine at Calicut

DRI's intelligence-led and coordinated enforcement actions continue to disrupt organised gold-smuggling networks at multiple stages of the smuggling chain and prevent the illicit movement of precious metals into the country.

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