Category: BUSINESS ECONOMY

Government Notification: Central Excise Changes September 2026

MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 1st September, 2026
No. 46/2026-Central Excise

G.S.R. 768.(E). In exercise of the powers conferred by Section 5A of the Central Excise Act, 1944 (1 of 1944) read with Section 147 of Finance Act, 2002 (20 of 2002), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 06/2026-Central Excise, dated the 26th March, 2026, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 205(E), dated the 26th March, 2026, namely:-

In the said notification, in the Table, against serial number 1, in column (4), for the entry, the entry “Rs. 1.5 per litre” shall be substituted.

2. This notification shall come into force on the date of its publication in the Official Gazette.

Note.- The principal notification No. 06/2026-Central Excise, dated the 26th March, 2026 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 205(E), dated the 26th March, 2026 and last amended by notification No. 43/2026-Central Excise dated 14th August, 2026 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 733(E), dated 14th August, 2026.

NOTIFICATION

No. 47/2026-Central Excise

G.S.R.769(E). In exercise of the powers conferred by Section 5A of the Central Excise Act, 1944 (1 of 1944) read with Section 147 of Finance Act, 2002 (20 of 2002), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 08/2026-Central Excise, dated the 26th March, 2026, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 207 (E), dated the 26th March, 2026, namely:-

In the said notification, in the Table, against serial number 1, in column (4), for the entry, the entry “Rs. 19 per litre” shall be substituted.

2. This notification shall come into force on the date of its publication in the Official Gazette.

Note.- The principal notification No. 08/2026-Central Excise, dated the 26th March, 2026 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 207 (E), dated the 26th March, 2026 and last amended by notification No. 44/2026-Central Excise dated 14th August, 2026 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 734 (E), dated 14th August, 2026

NOTIFICATION

No. 48/2026-Central Excise

G.S.R. 770(E). In exercise of the powers conferred by Section 5A of the Central Excise Act, 1944 (1 of 1944) read with Section 112 of Finance Act, 2018 (13 of 2018), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 11/2026-Central Excise, dated the 26th March, 2026, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 210 (E), dated the 26th March, 2026, namely:-

In the said notification, in the Table, against serial number 2, in column (4), for the entry, the entry “Rs. 1 per litre” shall be substituted.

2. This notification shall come into force on the date of its publication in the Official Gazette.

Note.- The principal notification No. 11/2026-Central Excise, dated the 26th March, 2026 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 210 (E), dated the 26th March, 2026 and last amended by Notification No. 45/2026-Central Excise dated 14th August, 2026 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 735(E), dated 14th August, 2026.

Commerce Secretary Shri Rajesh Agrawal Leads 4th India–Argentina JTC Meeting

The Fourth Meeting of the India–Argentina Joint Trade Committee (JTC) was held on 24 August 2026 at Palacio San Martín, Buenos Aires. The Indian delegation was led by Commerce Secretary Shri Rajesh Agrawal, while the Argentine delegation was led by Ambassador Fernando Brun, Secretary for International Economic Relations. Both sides reviewed progress on the roadmap agreed during Honourable Prime Minister Shri Narendra Modi’s visit to Argentina in 2025 and reaffirmed their commitment to further deepening the strategic and economic partnership between the two countries.

Bilateral trade between India and Argentina crossed USD 6.5 billion in 2025, registering consistent annual growth of over 17 per cent. India has emerged as Argentina’s fifth-largest trading partner, highlighting the significant potential for further expansion and diversification of the bilateral trade basket. Argentina’s ongoing efforts to facilitate foreign trade, reduce non-tariff barriers and promote investment are expected to support greater participation by Indian companies in the Argentine market. Both sides emphasised the importance of ensuring greater reciprocity and a more balanced framework of opportunities for businesses as the economic partnership expands.

Investment opportunities across mining, energy and infrastructure were also discussed, including the continued engagement of India’s KABIL in Argentina’s lithium sector. KABIL’s mining activities in Catamarca, the first lithium mining initiative by an Indian company in Argentina, have progressed significantly with the completion of Phase II drilling. Opportunities for further engagement in the provinces of Salta and Jujuy are also being explored to deepen the strategic partnership between the two countries.

The discussions also noted encouraging progress in facilitating the entry of Indian agricultural products into the Argentine market. Technical-level discussions on sanitary and phytosanitary (SPS) measures are advancing for Indian onions, milk and milk products, grapes, potatoes, bananas and pulses, marking an important step towards their market access. These developments are expected to create greater opportunities for Indian farmers and exporters, strengthen bilateral agricultural trade and contribute to India’s broader objective of achieving Viksit Bharat 2047.

Significant progress was also made in facilitating market access for Indian pharmaceutical products. Argentina has committed to work towards upgrading India from Annex II to Annex I under its pharmaceutical regulatory framework and reducing barriers to entry. This is expected to provide greater opportunities for Indian pharmaceutical companies and contribute to improving access to quality and affordable healthcare in Argentina. Building on the 2019 Memorandum of Understanding between Argentina’s ANMAT and India’s CDSCO, both sides also committed to strengthening cooperation through joint initiatives in Ayurveda and Yoga.

Emerging areas of cooperation, including aviation, space technology, telecommunications and digital services, were identified as areas offering further opportunities for both countries, particularly in 5G, artificial intelligence and digital infrastructure.

The India–MERCOSUR Preferential Trade Agreement also remains an important avenue for expanding market access and strengthening economic integration. Progress on the Terms of Reference, along with the adoption of digital certificates of origin, is expected to facilitate trade and make cross-border commerce more efficient for businesses.

The JTC was followed by a meeting with Argentina’s Minister of Foreign Affairs, International Trade and Worship, H.E. Mr. Pablo Quirno, along with representatives of the G6 industry chambers. The interaction provided valuable insights from the Argentine business community on opportunities within the India–Argentina economic relationship and reinforced the importance of aligning government initiatives with the needs and aspirations of industry.

Commerce Secretary Shri Rajesh Agrawal also held meetings with Mr. Sergio Iraeta, National Secretary of Agriculture, Livestock and Fisheries, to review the roadmap on onions, citrus, dairy, walnuts, grapes and bananas; Mr. Alejandro Cacace, Secretary of Deregulation, to discuss non-tariff barriers and regulatory recognition for Indian pharmaceuticals; and Secretary of Innovación, Ciencia y Tecnología Mrs. Adriana Baravalle, along with Ms. Josefina Pérez of CONAE and Ms. Jimena Schiaffino, Director for the Nuclear and Space Sector, to discuss space and nuclear cooperation, including a proposed ISRO–CONAE meeting.

The engagement was further strengthened through the India–Argentina Business Forum, held on 25 August 2026 at Palacio San Martín. The Forum brought together government representatives and leading businesses from both countries. Commerce Secretary Shri Rajesh Agrawal led the first and largest-ever Indian business delegation to Argentina, comprising more than 25 business leaders, including representatives from UPL, Kirloskar and Aditya Birla Group. The delegation engaged with the Argentine business community to translate the shared vision of the two countries into tangible commercial outcomes.

The Forum provided an important platform for Indian companies to engage directly with their Argentine counterparts, identify new avenues for trade and investment, and explore partnerships across key sectors, including agriculture, minerals, energy, pharmaceuticals, healthcare, tourism, banking and telecommunications. Discussions focused on translating government-to-government engagement into tangible commercial outcomes by improving market access, addressing regulatory and trade barriers and facilitating greater business-to-business engagement.

The India–Argentina economic partnership presents significant opportunities to expand trade, deepen investment and create new avenues for value creation. Strengthening cooperation across traditional and emerging sectors can further contribute to the growth and prosperity of both economies.

Commerce and Industry Minister Shri Piyush Goyal Concludes Japan Visit Successfully

Union Minister of Commerce and Industry, Shri Piyush Goyal, concluded his official visit to Japan on Wednesday, following a series of high-level engagements in Tokyo, Nagoya and Osaka aimed at accelerating Japanese investment in India, strengthening industrial partnerships and expanding bilateral economic cooperation across emerging and strategic sectors.

During the visit, Shri Goyal held extensive discussions with senior Japanese government leaders, financial institutions and business executives, including the leadership of more than 30 major Japanese companies and financial institutions with significant or growing interests in India. The engagements focused on expanding investment, strengthening resilient supply chains, advancing technology partnerships and creating new avenues for business-to-business collaboration between the two countries.

A key focus of the visit was mobilising long-term Japanese institutional capital for India. Shri Goyal engaged with leading Japanese financial institutions, including MUFG, Mizuho, Nomura, Nippon Life, Development Bank of Japan and Morgan Stanley MUFG Securities, besides other major investment and financial institutions. The discussions explored opportunities to deepen capital flows into India and support the country’s expanding infrastructure, manufacturing, technology and financial ecosystem.

The Minister also chaired sector-specific roundtables on Capital Goods, Machinery and Automotive; Semiconductors and Artificial Intelligence; Startups; and Foreign Institutional Investors. The interactions brought together a wide cross-section of Japanese and Indian businesses and provided a platform for identifying concrete investment, technology and commercial partnerships, particularly involving India’s Tier-II and Tier-III supplier ecosystem and MSMEs.

At the Semiconductor and AI Roundtable, Shri Goyal highlighted India’s ambition to build a globally competitive semiconductor ecosystem, with semiconductor demand projected to reach USD 150 billion by 2032. He outlined the Government’s six-pillar strategy covering chip design, semiconductor machinery and materials, fabrication, ATMP/OSAT, research and development, and talent development.

Shri Goyal emphasised that India’s large pool of skilled and young talent, combined with Japan’s cutting-edge technology, engineering expertise and manufacturing capabilities, can catalyse a world-class semiconductor and technology revolution in India. He also highlighted India’s expanding renewable energy capacity and robust national power grid as important enablers for energy-intensive industries such as semiconductor manufacturing, artificial intelligence and data centres.

Japanese companies participating in the semiconductor and AI discussions expressed interest in expanding their presence in India across semiconductor materials and equipment, power semiconductors, electronics, artificial intelligence, logistics and related advanced technologies. Discussions also covered supporting infrastructure, including reliable power, ultra-pure water, skilled manpower and social infrastructure in emerging semiconductor clusters such as Dholera and Sanand.

The Minister held discussions with Japan’s Minister of Economy, Trade and Industry, H.E. Mr. Akazawa Ryosei, as well as senior representatives of JETRO, JBIC and JICA. The discussions covered trade and investment, resilient supply chains, manufacturing cooperation, technology, infrastructure and greater participation of Japanese companies in India’s growth story.

In his interaction with Keidanren (Japan Business Federation), representing more than 1,500 leading Japanese companies, Shri Goyal underlined the widening scope of the India-Japan economic partnership, encompassing traditional trade as well as economic security, resilient supply chains, advanced technology, clean energy, defence-related manufacturing and people-to-people linkages. He invited Japanese companies to scale up investments and expand their presence in India.

Japanese business leaders warmly welcomed the Minister and appreciated his accessibility and active dialogue on key issues. Reaffirming their strong confidence in India’s growth story, business leaders expressed their commitment to expanding strategic engagements and diversifying investments across India.

Shri Goyal also addressed the “India-Japan Next Generation Economic Partnership” roadshow in Nagoya, organised in collaboration with Chukeiren and other leading business organisations. More than 80 Japanese companies from the Chubu region participated in the roadshow, with discussions covering automobiles, aerospace, machine tools, semiconductors, electronics, auto components and SMEs. Shri Goyal emphasised that the combination of India’s youthful talent pool with the Chubu region’s technological and engineering strengths offers significant scope for new manufacturing and technology partnerships.

Highlighting India’s strong economic fundamentals, Shri Goyal noted that the Indian economy recorded 7.7 per cent growth despite global headwinds and is progressing towards the ambition of becoming a USD 30 trillion economy by 2047. He underlined that India’s large and increasingly aspirational middle class, expanding digital economy, robust banking sector, renewable energy capacity and improving business environment are creating significant opportunities for long-term investors.

The visit also advanced efforts towards the target of JPY 10 trillion in Japanese private investment in India over the next decade, agreed upon during Prime Minister Shri Narendra Modi’s visit to Japan in 2025. Shri Goyal called for greater participation of Japanese institutional investors and companies in India’s next phase of growth, particularly in manufacturing, infrastructure, financial services, semiconductors, AI, clean energy and other next-generation industries.

The Minister also participated in a fireside chat moderated by Nikkei Asia, engaging with the Japanese and Indian business and media communities on the evolving contours of the bilateral economic relationship.

The visit reaffirmed the strong momentum in the India-Japan Special Strategic and Global Partnership and provided fresh impetus to efforts to deepen trade, investment, technology and industrial cooperation. It strengthened the foundation for greater Japanese participation in India’s transformation into a globally competitive manufacturing, technology and investment hub, while opening new avenues for mutually beneficial growth and innovation.

Customs Notification 4720: Tariff Value Amendments Explained

S.O. 4720(E).— In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied that it is necessary and expedient to do so, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3rd August, 2001, namely:-

In the said notification, for TABLE-1, TABLE-2, and TABLE-3 the following Tables shall be substituted, namely: –

“TABLE-1

Sl. No.Chapter/heading/sub-
heading/tariff item		Description of goodsTariff value
(US $ Per Metric Tonne)
(1)(2)(3)(4)
11511 10 00Crude Palm Oil1208 (i.e., no change)
21511 90 10RBD Palm Oil1220 (i.e., no change)
31511 90 90Others Palm Oil1214 (i.e., no change)
41511 10 00Crude Palmolein1227 (i.e., no change)
51511 90 20RBD Palmolein1230 (i.e., no change)
61511 90 90Others Palmolein1229 (i.e., no change)
71507 10 00Crude Soya bean Oil1257 (i.e., no change)
87404 00 22Brass Scrap (all grades)7945 (i.e., no change)

TABLE-2

Sl. No.Chapter/heading/sub-
heading/tariff item		Description of goodsTariff value
(US $)
(1)(2)(3)(4)
1.71 or 98Gold, in any form, in respect of which the benefit of entries at serial number 194 of the Notification No. 45/2025-Customs dated 24.10.2025 is availed1500 per 10 grams
2.71 or 98Silver, in any form, in respect of which the benefit of entries at serial number 195 of the Notification No. 45/2025-Customs dated 24.10.2025 is availed2097 per kilogram
(i.e., no change)
3.71(i) Silver, in any form, other than medallions and silver coins having silver content not below 99.9% or semi-manufactured forms of silver falling under sub-heading 7106 92;
(ii) Medallions and silver coins having silver content not below 99.9% or semi-manufactured forms of silver falling under sub-heading 7106 92, other than imports of such goods through post, courier or baggage.

Explanation. – For the purposes of this entry, silver in any form shall not include foreign currency coins, jewellery made of silver or articles made of silver.		2097 per kilogram
(i.e., no change)
4.71(i) Gold bars, other than tola bars, bearing manufacturer’s or refiner’s engraved serial number and weight expressed in metric units;
(ii) Gold coins having gold content not below 99.5% and gold findings, other than imports of such goods through post, courier or baggage.

Explanation. For the purposes of this entry, “gold findings” means a small component such as hook, clasp, clamp, pin, catch, screw back used to hold the whole or a part of a piece of Jewellery in place.		1500 per 10 grams

TABLE-3

Sl. No.Chapter/heading/sub-
heading/tariff item		Description of goodsTariff value
(US $ Per Metric Ton)
(1)(2)(3)(4)
1080280Areca nuts11574 (i.e., no change)”

2. This notification shall come into force with effect from the 26th day of August, 2026.

Note: The principal notification was published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, vide number S. O. 748 (E), dated the 3rd August, 2001 and was last amended vide Notification No. 70/2026-Customs (N.T.), dated the 14th August 2026, e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 4511 (E), dated 14th August 2026.

Government Reiterates Its Commitment for Reimagining Skilling for Viksit Bharat

NITI Aayog released a report titled “Reimagining Skilling for Viksit Bharat@2047” which provides a blueprint for a skilling architecture, aligned to the needs of ‘Viksit Bharat’. The report identifies 5 key segments of learners /workforce, including NEET youth in the age group 15-29 years. This is defined as a set of young people who fall under the following categories: (i) Engaged in voluntary work/ household enterprise; (ii) Attending domestic duties; (iii) Not able to work due to health condition; (iv) Spending leisure time; and (v) Others.

In certain sections, the figure of 8.7 crore NEET youth has been misinterpreted as unemployed. The category of NEET in the report refers to those not seeking employment, and the acronym NEET stands for Not in Education, Employment or Training. Therefore, it cannot be read as a measure of joblessness or as an addition to the unemployment rate. The unemployed represent an entirely separate category, drawn from a different population base than that used for the NEET estimate.

The NITI Aayog Report has clearly stated that the database utilised in computation of these figures is based on NSS 78th Round which was collected during the COVID-19 pandemic (FY 2020–21). It was a time of disruption in the field of education and employment and hence the figures stated in the report could be a deviation from the normal trajectory. This is apparent from the fact that the youth NEET percentage is significantly lower in the most recent PLFS round (PLFS 2025).

The government is committed to robust and evidence-based policymaking. As a step to facilitate the same, Periodic Labour Force Survey (PLFS) was introduced in 2017-18, ushering in annual estimates in contrast to the earlier regime of NSSO Employment-Unemployment Surveys which were conducted once every five years and hence leaving a trail of considerable lag in actual indices. To further strengthen the evaluation and aligning with international practice, since January 2025, PLFS underwent a further improvement including the shifting of survey period to January-December calendar year cycle.

With a vision to achieve Viksit Bharat@2047, the Government is taking all measures to skill our youth and prepare them for future growth. Hence, even before the publication of the report, the Government has proactively started the implementation of the key reforms suggested in the report through the Ministry of Skill Development and Entrepreneurship. Introduction of the ₹600 crore, Integrated Scheme in Skilling Architecture (ISSA) in the Union Budget 2026–27 as a precursor to the launch of the said report makes the intent of the government amply clear, which is to strengthen convergence across education, skilling, employment, and lifelong learning systems.

Indian Community in Japan Strengthening India-Japan Ties: Commerce and Industry

Union Minister of Commerce and Industry Shri Piyush Goyal addressed the Indian community in Tokyo, Japan, today and appreciated the contribution of the Indian diaspora in strengthening India-Japan ties. He described the nearly 60,000-strong Indian community in Japan as “Brand Ambassadors of India”, noting that their conduct, professionalism and contribution across different fields serve as an important introduction to India among the Japanese people.

Shri Goyal said that the energy, enthusiasm and confidence witnessed during his visit to Japan reflected the growing strength of India-Japan relations. He expressed gratitude to the Indian community for “opening the doors of Japan” for India and for building goodwill through their work and engagement with Japanese society.

He noted that more than 200 representatives from Indian industry and business were part of the delegation accompanying him during his visit to Japan. Describing it as the largest business delegation he had led to Japan, he said the strong participation reflected substantial interest on both sides in expanding business-to-business engagement and investment opportunities.

The Minister highlighted the transformation in India’s global standing over the past decade. He said that India’s growth, the country’s rising global profile and the leadership of Prime Minister Shri Narendra Modi have contributed to greater confidence and respect for India and its citizens across the world.

Shri Goyal said that India’s vision of becoming a developed nation by 2047 is founded on self-reliance, self-respect and self-confidence. He emphasised that this transformation is a collective commitment of 140 crore Indians, including the Indian diaspora across the world.

Highlighting India’s demographic advantage, Shri Goyal said that India’s young population, with an average age of around 29 years, represents a significant strength. He noted that India’s hardworking, aspirational and technology-savvy youth are increasingly creating opportunities rather than merely seeking employment.

The Minister underlined the growing attractiveness of India as an investment and business destination. He said that India’s expanding economy, young population, startups, technological capabilities and entrepreneurial ecosystem are creating significant opportunities for global businesses and investors.

Shri Goyal also highlighted India’s expanding network of trade agreements. He said that India has made significant progress in concluding trade agreements with several countries in recent years, reflecting the growing confidence of global partners in the Indian economy and its future potential.

The Minister said that discussions with Japanese companies, including those working in advanced technologies, semiconductors and artificial intelligence, demonstrated the growing interest in India. He noted that Japanese businesses are keen to expand their engagement with India and are looking at opportunities across emerging and high-technology sectors.

Shri Goyal also highlighted the opportunities for Indian professionals in Japan. He said that there is significant demand for skilled workers across sectors, including caregivers, nurses, welders, carpenters, electricians, plumbers, drivers, engineers, artificial intelligence professionals, chartered accountants and seafarers. He encouraged members of the Indian community to understand local requirements, learn the Japanese language and culture, and contribute to strengthening people-to-people and economic ties between the two countries.

The Minister urged the Indian diaspora to retain a strong connection with India while respecting the laws, regulations and way of life of Japan, which is their “Karmabhoomi”. He suggested that members of the community could also contribute to the development of their hometowns and villages in India through initiatives such as digital education, online training and knowledge-sharing.

Shri Goyal highlighted the important contribution of the Indian diaspora to India’s economy through remittances. He said that remittances support families, generate economic activity and contribute to savings and investment, thereby making the diaspora an important partner in India’s development journey.

He also emphasised the Government’s commitment to the welfare and safety of Indians abroad. Referring to India’s efforts to evacuate and assist citizens during crises in different parts of the world, he said that the Government remains committed to ensuring the safety and well-being of Indian citizens wherever they may be.

Recalling India’s evacuation efforts during the Ukraine conflict, Shri Goyal said that the Government had worked across countries and coordinated extensive efforts to bring Indian students and other citizens safely back to India.

The Minister also recalled the efforts made to assist Indian fishermen stranded in the region during the recent conflict in West Asia. He highlighted the role of Indian diplomatic missions, local authorities and members of the Indian diaspora in registering citizens, coordinating their movement and facilitating their safe return to India.

Shri Goyal said that these efforts demonstrate the strong bond between India and its diaspora. He reiterated that Indians living abroad remain an integral part of India’s development journey and that the Government will continue to stand with them during times of need.

“Never forget India, and neither will we ever forget you,” Shri Goyal said, while expressing his appreciation for the contribution of the Indian community in Japan and across the world.

Strengthening Economic Ties: Semiconductors and AI Roundtable

Union Minister of Commerce and Industry, Shri Piyush Goyal, today chaired a roundtable with leading Japanese and Indian industry representatives on Semiconductors and Artificial Intelligence (AI) in Tokyo, underlining the growing importance of these sunrise sectors in strengthening India-Japan economic and technological cooperation.

Shri Goyal highlighted that Semiconductors and AI are emerging as key areas of cooperation and constitute an important pillar of the economic security partnership envisaged by Prime Minister Shri Narendra Modi and Prime Minister Sanae Takaichi during the Annual Summit. He assured the participating industry representatives of the Government of India’s wholehearted support in deepening and expanding collaboration between India and Japan in these strategic sectors.

The Minister highlighted the rapidly expanding opportunities in India’s semiconductor sector, with domestic semiconductor demand projected to reach USD 150 billion by 2032. He outlined the Government’s comprehensive semiconductor strategy covering chip design, semiconductor machinery and materials, fabrication, ATMP/OSAT, research and development, and talent development. He also highlighted the Government’s commitment of USD 10 billion under Semicon India 1.0 and an additional USD 15 billion under Semicon India 2.0 to catalyse large-scale investments and build a comprehensive semiconductor ecosystem in the country.

Shri Goyal emphasised the significant potential for combining India’s vast pool of skilled and talented professionals with Japan’s advanced technology, engineering capabilities and industrial expertise. He noted that such complementarities can create new opportunities for investment, innovation, manufacturing and technology partnerships between the two countries.

The roundtable was attended by representatives of around 21 leading Japanese companies, including Tokyo Electron, Daifuku, Preferred Networks, ABEJA, MinebeaMitsumi, Tanaka Precious Metals Technologies, Fujifilm Holdings, Toray Industries, Nippon Express Holdings, Mizuho Financial Group, Kyocera Corporation, Fuji Electric, TOK, Air Water Inc., ROHM, Tomoegawa Corporation, MUFG Bank Ltd., NEC Corporation, Yamaya Electronics, ANA Trading and JETRO. The roundtable also saw participation from various Indian business chambers and business delegations.

The participating Japanese companies expressed confidence in the growing opportunities in India’s semiconductor and AI sectors and reaffirmed their commitment to Make in India, Design in India and Develop in India. The companies also briefed the Minister on their operations, capabilities and project execution in the relevant sectors.

Responding to suggestions and concerns raised by Japanese industry representatives, Shri Goyal assured that the Government of India would proactively address the issues raised. He emphasised that India is fully cognisant of the significant potential of the India-Japan partnership in these strategic sectors and will proactively engage with industry through the Embassy of India in Tokyo and the concerned Ministries and Departments in New Delhi to facilitate fruitful outcomes in a fast-tracked manner.

Earlier, Shri Goyal held a bilateral meeting with Japan’s Minister of Economy, Trade and Industry, H.E. Mr. Akazawa Ryosei, on 25 August 2026 in Tokyo.

During the meeting, the two Ministers took stock of bilateral economic cooperation, including bilateral trade and investment, and discussed the need to accelerate the review of the Comprehensive Economic Partnership Agreement (CEPA) to make it more forward-looking and responsive to emerging economic opportunities.

The Ministers also discussed bilateral cooperation in new and emerging sectors, next-generation industries, manufacturing, technology and innovation. They noted the steady progress towards achieving the target of JPY 10 trillion in private investment from Japan to India, further strengthening the India-Japan Special Strategic and Global Partnership.

100th VC Meeting: Strengthening Trader Engagement in India

The National Traders’ Welfare Board (NTWB) today convened its 100th Virtual Conference (VC) Interaction Meeting, marking a significant milestone in strengthening regular engagement with the trader community across the country.

The decision to establish a dedicated virtual platform for retail traders was taken during the 2nd Meeting of the Board, held on 7 February 2024 and chaired by the Union Minister of Commerce & Industry, Shri Piyush Goyal. During the meeting, it was proposed that a dedicated virtual platform be created to facilitate regular interaction with retail traders, disseminate information on Government schemes and policies, and provide traders with an accessible mechanism to raise their grievances and suggestions.

The initiative was formally launched during the 3rd Meeting of the Board held on 11 July 2024. Since its launch, VC Interaction Meetings have been conducted every Monday from 3:00 PM to 4:00 PM, providing a structured and continuous platform for engagement with traders.

The weekly VC platform has facilitated regular interaction with retail traders, dissemination of information on Government schemes and policy initiatives, and easy submission of grievances and suggestions. It has also enabled the identification of recurring issues and their communication to the concerned Ministries and Departments for appropriate consideration and redressal.

The 100th VC Interaction Meeting reflects the importance of sustained and institutionalised engagement with the trader community. The platform has provided thousands of traders with an avenue to share their concerns, suggestions and experiences directly with the Government.

Going forward, the initiative will focus on further expanding participation, strengthening the feedback and recommendation mechanism, and facilitating more tangible outcomes from issues raised through the platform.

The meeting was chaired by  Chairman, NTWB, Shri Sunil J. Singhi. The 100th VC Interaction Meeting marks an important milestone in the NTWB’s efforts to strengthen dialogue, collaboration and partnership between the Government and the trader community, reaffirming the importance of traders as an integral part of India’s economic ecosystem.

The platform has connected small, medium and large traders from across the country on a common forum and facilitated dissemination of information on Government schemes, policies and reforms relevant to the trading community. It has also provided a simplified and accessible mechanism for traders to raise grievances and suggestions, enabled identification of recurring issues and their communication to the concerned Ministries and Departments, and strengthened transparency, trust and cooperation between the Government and the trader community.

Traders play a vital role in the Indian economy, serving as an important link between producers and consumers. They contribute to employment generation, sustain local markets and support the livelihoods of crores of people across the country. The welfare and empowerment of traders therefore have a direct bearing on employment, household incomes, local economies and the overall economic strength of the nation.

How to Participate in the Non-Competitive Bidding for GS 2036

Auction for Sale (Issue / Re-issue) of Government Security (GS)

F. No. 4(1)-B(W&M)/2026. Government of India (Gol) hereby notifies sale (re-issue) of the following Government Security.

Name of the SecurityDate of Original IssueOriginal Tenure (yy-mm-dd)Date of MaturityBaseMethodNotified Amount (in Crore)
6.94% GS 2036May 11, 202610-00-00May 11, 2036PriceMultiple34,000

Gol will have the option to retain additional subscription up to ₹2,000 Crore against the security mentioned above. The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Notification’). The Security will be sold through Reserve Bank of India, Mumbai Office, Fort, Mumbai – 400 001 as per the terms and conditions specified in the General Notification F.No.4(2)-B(W&M)/2018, dated March 26, 2025 issued by Government of India.

Allotment to Non-competitive Bidders

2. The Government Security up to 5% of the notified amount of the sale will be allotted to eligible individuals and institutions as per the enclosed Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities (Annex).

Place and date of auction

3. The auction will be conducted by Reserve Bank of India, Mumbai Office, Fort, Mumbai-400 001 on August 28, 2026. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber system) on August 28, 2026. The non-competitive bids should be submitted between 10:30 a.m. and 11:00 a.m. and the competitive bids should be submitted between 10:30 a.m. and 11:30 a.m.

When Issued Trading

4. The Security will be eligible for “When Issued” trading in accordance with the guidelines issued by the Reserve Bank of India.

Date of issue and payment for the security

5. The result of the auction shall be placed by the Reserve Bank of India on its website (www.rbi.org.in) on August 28, 2026. The payment by successful bidders will be on August 31, 2026 i.e. the date of re-issue. The payment for the security will include accrued interest on the nominal value of the Security allotted in the auction from the date of original issue / last coupon payment date to the date upto which accrued interest is due as mentioned in the table in para 6.

Payment of Interest and Re-payment of security

6. Interest will accrue on the nominal value of the Security from the date of original issue / last coupon payment and will be paid half yearly. The Security will be repaid at par on date of maturity.

Name of the SecurityCoupon rate (%)Date of Last Coupon paymentDate up to which accrued interest is dueDate of Coupon payments (month/date)
6.94% GS 20366.94New SecurityAug 30, 2026Nov 11 and May 11

Scheme for Non-competitive Bidding Facility in the Auction of Government of India Dated Securities and Treasury Bills

I. Scope: With a view to encouraging wider participation and retail holding of Government securities, retail investors are allowed participation on “non-competitive” basis in select auctions of dated Government of India (Gol) securities and Treasury Bills.

II. Definitions: For the purpose of this scheme, the terms shall bear the meaning assigned to them as under:

a. Retail investor is any person, including individuals, firms, companies, corporate bodies, institutions, provident funds, trusts, and any other entity as may be prescribed by RBI.

b. Aggregator/Facilitator’ means a Scheduled Bank or Primary Dealer or Specified Stock Exchange or any other entity approved by RBI, permitted to aggregate the bids received from the investors and submit a single bid in the non-competitive segment of the primary auction.

c. Specified stock exchange’ means SEBI recognized Stock Exchange, which have received No Objection Certificate (NOC) from SEBI to act as aggregator/facilitator in the primary auction segment.

d. ‘Eligible Provident Funds’ are those non-government provident funds governed by the Provident Funds Act, 1925 whose investment pattern is decided by the Government of India.

III. Eligibility:

a. Participation on a non-competitive basis in the auctions will be open to a retail investor who:

1. Does not maintain current account (CA) or subsidiary General Ledger (SGL) account with the Reserve Bank of India; and

2. Submits the bid indirectly through an Aggregator/Facilitator permitted under the scheme; or

3. Maintains the ‘Retail Direct Gilt Account’ (RDG Account) with RBI

Exceptions:

a. Regional Rural Banks (RRBs) and Cooperative Banks:

i. Regional Rural Banks (RRBs) and Cooperative Banks shall be covered under this Scheme only in the auctions of dated securities in view of their statutory obligations.

ii. Since these banks maintain SGL account and current account with the Reserve Bank of India, they shall be eligible to submit their non-competitive bids directly.

b. State Governments, eligible provident funds and Others:

i. State Governments, eligible provident funds in India, the Nepal Rashtra Bank, Royal Monetary Authority of Bhutan and any Person or Institution, specified by the Bank, with the approval of Government, shall be covered under this scheme only in the auctions of Treasury Bills.

ii. These bids will be outside the notified amount.

iii. There will not be any restriction on the maximum amount of bid for these entities.

IV. Quantum: Allocation of non-competitive bids from retail investors will be restricted to a maximum of five percent of the aggregate nominal amount of the issue within the notified amount as specified by the Government of India, or any other percentage determined by Reserve Bank of India.

V. Amount of Bid:

a. The minimum amount for bidding will be ₹10,000 (face value) and therefore in multiples in ₹10,000 as hitherto.

b. In the auctions of Gol dated securities, the retail investors can make a single bid for an amount not more than Rupees Two crore (face value) per security per auction.

VI. Other Operational Guidelines:

a. The retail investor desirous of participating in the auction under the Scheme would be required to maintain a depository account with any of the depositories or a gilt account under the constituent subsidiary general ledger (CSGL) account of Aggregator/Facilitator or ‘Retail Direct Gilt Account’ (RDG Account) with RBI.

b. Under the Scheme, an investor can make only a single bid in an auction. An undertaking to the effect that the investor is making only a single bid will have to obtained and kept on record by the Aggregator/Facilitator.

Submission of Bids:

c. Each Aggregator/Facilitator on the basis of firm orders received from their constituents with submit a single consolidated non-competitive bid on behalf of all its constituents in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. Except in extraordinary circumstances such as general failure of the Reserve Bank of India Core Banking Solution (E-Kuber) system, non-competitive bid in physical form will not be accepted.

Allotment of Bids:

d. Allotment under the non-competitive segment to the Aggregator/Facilitator will be at the weighted average rate of yield/price that will emerge in the auction on the basis of the competitive bidding. The securities will be issued to the Aggregator/Facilitator against payment on the date of issue irrespective of whether they have received payment from their clients.

e. In case the aggregate amount of bid is more than the reserved amount (5% of notified amount), pro rata allotment would be made. In case of partial allotments, it will be the responsibility of the Aggregator/Facilitator to appropriately allocate securities to their clients in a transparent manner.

f. In case the aggregate amount of bids is less than the reserved amount, the shortfall will be taken to competitive portion.

Issue of Security:

g. Security would be issued only in SGL form by RBI. The Aggregator/Facilitator has to clearly indicate at the time of tendering the non-competitive bids the amounts (face value) to be credited to their main SGL or CSGL account.

h. Delivery in physical form from the Main SGL account is permissible at the instance of the investor subsequently.

i. It will be the responsibility of the Aggregator/Facilitator to pass on the securities to their clients. Except in extraordinary circumstances, the transfer of securities to the client should b completed within five working days from the date of issue.

Commission/Brokerage charged to Clients:

j. The Aggregator/Facilitator can recover up to six paise per 100 as brokerage/commission/service charges for rendering this service to their clients. Such costs may be built into the sale price or recovered separately from the clients.

k. In case, the securities are transferred subsequent to the issue date of the security, the consideration amount payable by the client to the Aggregator/Facilitator will include accrued interest from the date of issue.

l. Modalities for obtaining payment from clients towards cost of the securities, accrued interest, wherever applicable, and brokerage/commission/service charges may be worked out by the Aggregator/Facilitator as per agreement with the client.

m. It may be noted that no other costs, such as funding costs, should be built into the price or recovered from the client.

VII. Reporting Requirements:

Aggregators/Facilitators will be required to furnish information relating to operations under the Scheme to the Reserve Bank of India (Bank) as may be called for from time to time within the time frame prescribed by the Bank.

VIII. The aforesaid guidelines are subject to review by the Bank and accordingly, if and when considered necessary, the Scheme will be modified.

India-Japan Investment Partnership Gains Momentum: Insights from Shri Piyush Goyal

Union Minister of Commerce and Industry, Shri Piyush Goyal, today held discussions in Tokyo with senior leaders of leading Japanese financial and investment institutions on strengthening long-term capital flows, deepening investment partnerships and expanding Japanese participation in India’s growth story.

The meeting brought together senior representatives of MUFG, Development Bank of Japan (DBJ), Mizuho, Morgan Stanley, Nomura and Nippon Life. The discussions focused on India’s economic outlook, emerging investment opportunities and measures to further facilitate Japanese institutional investment in India.

Shri Goyal highlighted the strength and resilience of the Indian economy, noting that India recorded 7.7 per cent growth last year despite global uncertainties and is working towards becoming a USD 30 trillion economy by 2047. He underlined the strength of India’s banking sector, robust capital adequacy, low levels of non-performing assets, expanding middle class and rising disposable incomes as key drivers of sustained economic growth.

The Minister highlighted significant opportunities for Japanese investors in semiconductors, artificial intelligence, data centres, renewable energy, green hydrogen, advanced manufacturing and digital infrastructure. He noted that India’s expanding renewable energy capacity and national power grid provide a strong foundation for the growth of energy-intensive digital industries, while the India Semiconductor Mission is creating new opportunities across manufacturing and technology.

Highlighting the strategic and comprehensive nature of India-Japan relations, Shri Goyal said India regards Japan as a trusted partner in its journey towards becoming a global manufacturing, technology and investment hub. He emphasised India’s commitment to intellectual property protection, availability of high-quality talent, policy reforms and creating an increasingly conducive business environment.

The Japanese financial institutions shared their growing engagement with India and expressed strong confidence in the country’s long-term growth prospects. MUFG highlighted its investment of around USD 4 billion in Shriram Finance and its expanding interests in areas including renewable energy and hydrogen. DBJ outlined its dedicated India strategy and growing interest in property development, venture capital and other long-term investment opportunities.

Mizuho highlighted the improving profitability of Japanese companies operating in India and the expansion of its India operations, including its Global Capability Centre in Pune. Morgan Stanley described India as one of its most important global locations, with more than 19,000 employees, and highlighted the evolution of its India operations towards higher-value capital markets and financial services activities.

Nomura highlighted its long-standing presence in India and its role in connecting Japanese companies and global industries with Indian opportunities, including through technology capabilities in areas such as artificial intelligence and cybersecurity. Nippon Life emphasised the importance of long-term “patient capital” and noted the strong returns generated by its Indian operations.

The discussions also covered measures to further facilitate the flow of Japanese institutional capital into India. Participants highlighted the importance of simplifying processes for profit repatriation, improving access to Indian capital markets and ensuring greater regulatory predictability for long-term investors.

The Japanese institutions reiterated that their long-term strategic outlook on India remains strongly positive, while noting that currency movements and certain regulatory and policy considerations can influence short-term investment decisions. Shri Goyal welcomed the feedback and reiterated the Government’s commitment to continuously improving the ease of doing business and creating a more seamless investment environment.

The meeting also explored the potential of GIFT City as a gateway for international capital into India and as a platform for facilitating greater cross-border investment flows between Japan and India.

Shri Goyal emphasised that India is seeking not merely capital but long-term partnerships that bring technology, innovation, manufacturing capabilities, employment and integration with global value chains. He highlighted opportunities in both new and emerging sectors and established businesses requiring modernisation and technological upgrading.

The discussions assume significance in the context of the India-Japan objective of mobilising 10 trillion yen of Japanese private investment into India over the next decade. The interaction reaffirmed the strong confidence of leading Japanese financial institutions in India’s long-term growth prospects and highlighted the considerable potential for expanding bilateral investment, technology and business linkages.

The meeting marked another important step towards deepening the India-Japan economic partnership and unlocking greater flows of long-term Japanese institutional capital into India’s next phase of growth.

Central Bureau of Narcotics (CBN) and PHARMEXCIL Sign MoU for Legitimate Trade

In a significant step towards facilitating legitimate international trade and preventing the diversion of pharma products, the Central Bureau of Narcotics (CBN), Department of Revenue, Ministry of Finance, Government of India and the Pharmaceuticals Export Promotion Council of India (PHARMEXCIL), set up by Ministry of Commerce and Industry, Govt of India signed a Memorandum of Understanding (MoU) today at the CBN Headquarters in Gwalior.

Recognizing India’s position as a leading global supplier of active pharmaceutical ingredients (APIs), bulk drugs, formulations, biologics, and medical devices, the MoU aims to balance the promotion of India’s pharmaceutical exports with effective regulatory oversight.

Role of CBN under the NDPS Act, 1985 Functioning under the Department of Revenue, Ministry of Finance, the Central Bureau of Narcotics (CBN) is the agency administering the facilitation, regulations and enforcement provisions of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985. Under the NDPS Act, the CBN holds the critical mandate of supervising the licit cultivation of opium poppy, issuing authorizations for the import and export of narcotic drugs and psychotropic substances, and ensuring that essential chemical inputs are not diverted for illicit use.

This collaborative framework with PHARMEXCIL is a strategic extension of the Government of India’s National Roadmap of Ease of Doing Business. The Memorandum of Understanding (MoU) executed today broadens this comprehensive approach by integrating, voluntary compliance mechanisms directly into the pharmaceutical export ecosystem to secure international supply chains.

Signing Ceremony and Dignitaries The formal signing ceremony saw the exchange of MoU documents between Dr. Dinesh Bisen, Narcotics Commissioner, representing the CBN, and Shri Raja Bhanu, Director General of PHARMEXCIL.

Key Highlights of the MoU:

• Voluntary Code of Conduct (VCC): The Government, in close consultation with PHARMEXCIL, will develop a Voluntary Code of Conduct setting out recommended practices for the industry. This code will remain voluntary and non-binding, ensuring it does not interfere with normal business operations or create additional statutory or financial burdens on exporters beyond applicable laws.

• Trade Facilitation & Ease of Doing Business: The partnership will focus on identifying operational bottlenecks and recommending measures to streamline legitimate export procedures for compliant pharmaceutical exporters.

• Capacity Building: Both parties will organize joint workshops, seminars, and awareness campaigns for exporters, in coordination with relevant government institutions like CDSCO and Customs wherever required.

• Information Sharing: The MoU establishes a framework for the exchange of necessary information to achieve regulatory objectives, subject to applicable laws and confidentiality obligations. Furthermore, the pharma industry will endeavor to nominate ‘Contact Persons’ from member companies to coordinate matters associated with the VCC.

Following the signing, the dignitaries engaged in detailed deliberations on the way forward, focusing on a six-month action plan. This plan will prioritize pan-India outreach, stakeholder sensitization in collaboration with PHARMEXCIL, and establishing core areas of institutional and regulatory cooperation.

This MoU reaffirms the Government of India’s commitment to ensuring the compliant and sustainable growth of the pharmaceutical sector, nurturing growth and boost of export sector, by reduction of dwell time for export authorizationswhile safeguarding against the misuse of narcotic drugs, psychotropic substances, and controlled precursors.

Third Meeting of India-Cambodia JWGTI Held in Phnom Penh

The Third Meeting of the India-Cambodia Joint Working Group on Trade and Investment (JWGTI) was held on 24 August 2026 in Phnom Penh, Cambodia. The meeting was co-chaired by Shri Amit Verma, Joint Secretary, Department of Commerce, Ministry of Commerce and Industry, India, and Mr. Long Kemvichet, Director General of International Trade, Ministry of Commerce, Cambodia.

Both sides noted the encouraging momentum in bilateral trade, which grew by over 36% to reach USD 406.78 million in 2025-26, up from USD 299 million in the previous financial year, with the April-June 2026 quarter recording a further 63.25% year-on-year growth. Cambodia is currently India’s 8th largest trading partner in ASEAN, accounting for 0.31% of India’s total trade with the bloc, reflecting significant headroom for growth.

The meeting deliberated upon ways to diversify and deepen trade, including through cooperation and collaboration in traditional medicine, e-governance modules, recognition of Indian pharmacopeia, trade statistics reconciliation and the sharing of information on flagship trade fairs and business delegations.

The meeting also welcomed the successful launch of UPI acceptance at KHQR-enabled merchants in Phnom Penh on 2 June 2026, and discussed the next phase of enabling Cambodian payment applications to scan UPI QR codes in India, which would allow Cambodian travellers to use UPI-enabled terminals in India seamlessly.

The meeting further welcomed the agreement between both sides on the MoU on Custom Cooperation and discussed early signing, which would bring uniformity in custom procedure.

The two sides further discussed cooperation in agriculture and market access issues, expanding trade in dyes and pigments, banking and insurance sector cooperation. The two sides also welcomed the discussion for completion of the Bilateral Investment Treaty between India and Cambodia and agreed for early signature on it.

This was the third meeting of the JWGTI since its institutionalisation and the meeting reaffirmed the depth and growing potential of the India-Cambodia trade and economic partnership. The next meeting of the JWGTI will be held in India in 2027.

On the sidelines of the 3rd India–Cambodia JWGTI meeting, Shri Amit Verma had a productive call with H.E. Tith Rithipol, Under Secretary of State, Cambodia. Discussions covered strengthening bilateral trade and investment, cooperation in pharmaceuticals, and the successful UPI–KHQR digital payments linkage. Both sides reiterated their shared commitment for deepening the partnership between the countries.

Shri Amit Verma also met with members of the Indian Business Chamber in Cambodia (IBCC). Discussions focused on accelerating bilateral trade agreement discussions, facilitating Indian investment in Cambodia, and identifying 5–7 priority sectors including education, healthcare, IT, agriculture and tourism.

The meeting also discussed an “Invest in Cambodia” roadshow in India, positioning Cambodia as a production base for Indian companies seeking access to ASEAN markets, and establishing a mechanism for IBCC/FICCI/JBC to provide private-sector feedback to the JWGTI.

Commerce and Industry Minister Piyush Goyal Addresses Japanese Business Federation

India-Japan partnership has expanded well beyond traditional trade to encompass strategic areas such as economic security, defence, supply-chain resilience, technology, innovation, clean energy and people-to-people exchanges stated Union Minister for Commerce and Industry, Shri Piyush Goyal, while addressing a round-table with Keidanren (Japan Business Federation), the apex economic organisation representing more than 1,500 leading Japanese companies.

Shri Goyal called for a deeper business-to-business partnership between the two countries and highlighted the improving ease of doing business in India and the opportunities emerging from the country’s rapidly expanding economy. The Minister invited Japanese investors to scale up their commitment to India and double the number of Japanese companies operating in the country, stating that the number of Japanese companies operating in India “should double this decade from current levels.” He also noted that India and Japan have designated 2026 as the “India-Japan Year of Shared Horizons,” marking 75 years of diplomatic relations between the two nations.

Shri Goyal held business meetings with the leadership of Sumitomo Corporation, Meiji Seika Pharma, Mitsubishi Corporation, Tokyo Electron and MinebeaMitsumi. Discussions focused on opportunities for further expansion of their operations and enhancement of investments in India.

During the meetings, Shri Goyal met Mr. Shingo Ueno, Representative Director, President & CEO, Sumitomo Corporation; Mr. Toshiaki Nagasato, President & Representative Director, Meiji Seika Pharma Co. Ltd.; and Mr. Juro Baba, Representative Director, Executive Vice President, Corporate Functional Officer for Global Planning & Coordination, Mitsubishi Corporation.

The Minister also met with two companies at the forefront of semiconductor manufacturing. At Tokyo Electron, he met Mr. Takeshi Okubo, Chair of Tokyo Electron India; Mr. Vaidya Bharadwaj, India Project Leader; Mr. Takuo Kawauchi, General Manager; Ms. Saori Tsuchiya, Director; and Ms. Yukiko Otaka. At MinebeaMitsumi Inc., he met Mr. Katsuhiko Yoshida, Director, President, COO & CFO, who is overseeing the company’s semiconductor plant project in India. These meetings reflect the growing focus on semiconductor investment as a pillar of the bilateral relationship.

In the afternoon, Shri Goyal held a meeting with Mr. Ichikawa Keiichi, Secretary General of Japan’s National Security Secretariat, Cabinet Office, at the Kantei (Deputy Prime Minister’s Office), underlining the strategic dimension of the bilateral relationship alongside its economic dimension.

Shri Goyal thereafter participated in a Round-table on the Capital Goods, Machinery and Automotive Industry, which provided a platform to discuss ways to strengthen linkages between Japanese enterprises and India’s Tier-II and Tier-III supplier ecosystem and identify new avenues for industrial collaboration and technology partnerships, including for Micro, Small and Medium Enterprises (MSMEs). The round-table saw participation of around 70 businesses from India and Japan.

The Minister highlighted the immense scope of collaboration between the two countries in capital goods, machinery, automotive and advanced manufacturing, and invited Japanese companies to deepen their presence in India in these sectors.

The discussions also explored opportunities for Japanese companies to deepen their engagement with India’s manufacturing ecosystem and contribute to stronger and more resilient supply chains.

In the evening, Shri Goyal participated in a fireside chat moderated by Nikkei Asia, attended by members of the business community and media from India and Japan. He highlighted the expanding contours of the India-Japan economic relationship and the opportunities emerging from India’s growth trajectory, technological transformation and increasing integration with global value chains.

The day’s engagements reaffirmed the strong momentum in the India-Japan economic partnership and India’s commitment to deepening trade, investment, technology and business-to-business linkages, while creating new opportunities for mutually beneficial growth.

Shri Piyush Goyal, arrived in Tokyo today to lead India’s largest-ever business delegation to Japan, comprising over 200 representatives from industry, drawn from sectors including manufacturing, semiconductors, clean energy, steel, automotive, financial services, healthcare, and start-ups. The four-day visit, running from 24 to 27 August, will take the delegation across Tokyo, Nagoya, and Osaka, and is aimed at deepening trade and investment ties under the India-Japan Special Strategic and Global Partnership.

The delegation has been constituted jointly by India’s leading industry associations, in coordination with the Ministry of Commerce and Industry, and includes representatives nominated by the Federation of Indian Chambers of Commerce and Industry (FICCI), the Confederation of Indian Industry (CII), and the Associated Chambers of Commerce and Industry of India (ASSOCHAM).

DGGI Unearths Clandestine Pan Masala and Tobacco Network in Uttar Pradesh

The Lucknow Zonal Unit of DGGI has busted a clandestine manufacturing operation for pan masala, scented jarda and gutkha spread across six premises in Chitrakoot and Banda districts of Uttar Pradesh. Acting on specific intelligence developed by the Unit, officers started coordinated searches around midnight on 18.08.2026 at these premises, which are connected with two firms, one engaged in the manufacture of pan masala and allied products and the other in trading.

The searches led to detection of 27 undeclared pouch-packing machines comprising 6 machines for scented jarda, 9 for pan masala and 12 for dohara/desi gutkha. Mixing, areca nut crushing and drying machines were also found. The operation also resulted in the seizure of 15,50,922 pouches of finished goods, comprising pan masala, chewing tobacco, scented jarda and sugandhit supari. Raw material and packing material seized includes 32.9 MT of areca nut and cut areca nut, 2.8 MT of tobacco, 8.4 MT of packing material, pouches and laminates, 470 kg of katha powder, 850 kg of glycerine, 545 kg of essence and 256 kg of unpacked pan masala. Evasion of GST, HSNS Cess and Central Excise duty of approximately ₹185 crore has been detected so far.

Evidence indicates that the operation was run through a network of unregistered premises using undeclared machinery, and the finished goods were cleared clandestinely without payment of applicable GST, HSNS Cess and Central Excise duty. The proprietor of the manufacturing firm was prima facie found to be the person organising and managing the clandestine manufacture and clearance. He was arrested on 19.08.2026 under Section 26 of the HSNS Cess Act, 2025 and Section 13 of the Central Excise Act, 1944, and produced before the Special Chief Judicial Magistrate (Customs), Lucknow, who remanded him to judicial custody. Investigation is continuing and further recoveries are expected.

A capacity-based cess and taxation regime came into effect on 1st February 2026 in the pan masala and tobacco sector. Under the Health Security se National Security Cess Act, 2025 (HSNS) capacity-based monthly cess is applicable on pan masala, which is computed based on number, type and capacity of packing machines installed. A similar capacity-based central excise levy is imposed on chewing tobacco, jarda and gutkha under the Central Excise Act, 1944. Unscrupulous manufacturers try to avoid these imposts by using undeclared machines clandestinely. To counter this, Directorate General of GST Intelligence (DGGI) has stepped up intelligence-led enforcement in this sector, combining data analytics with coordinated field operations across its formations.

Since 1st February 2026, DGGI formations across the country have booked 27 cases involving suppression of production, clandestine clearance and evasion of the applicable levy, detecting evasion of duty, tax and cess of ₹668 crore. Voluntary payment of ₹11.7 crore has been made during the course of investigation. A total of 131 pouch-packing machines have been seized and 17 persons arrested.

Empowering India’s Workforce: ESIC’s Role in Social Security

In the journey towards Viksit Bharat, the provision of  social security for the workers becomes imperative to create a healthy, resilient and secure nation. The workers of India are the true builders of the nation’s progress, and ensuring their welfare, dignity and well-being has remained the focus of the Employees’ State Insurance Corporation’s (ESIC) mission. This commitment is reflected in the disbursement of Cash Benefits and quality healthcare to its beneficiaries through an extensive infrastructure comprising of 169 hospitals, 1,603 dispensaries, 17 medical colleges, 2 dental colleges, 2 nursing colleges, 3 para-medical college, supported by 65 Regional/Sub-Regional Offices, 612 Branch Offices, and 117 Dispensary-cum-Branch Offices. The ESI Scheme is presently implemented in 728 out of a total of 787 districts across the country.  In addition to providing medical and social security benefits, ESIC is also investing in medical education with focus on skills, service delivery and compassion. 

As India strides toward its ambitious goal of creating 75,000 new medical seats, ESIC is contributing significantly to this goal by steadily expanding its medical education infrastructure to widen the pathways available to the country’s young aspirants. Today, 17 ESIC Medical Colleges stand operational across the country, offering UG Courses (1,550 MBBS seats) and PG courses (559 MD/MS seats, 182 DNB seats, 17 DrNB seats, 31 DM/M.Ch seats, 10 PhD seats). Additionally, there are 03 state-run medical colleges which contribute a further 330 MBBS seats. Further there are 2 ESIC Dental Colleges offering 124 seats, 2 Nursing colleges offering 120 BSc Nursing seats and 3 paramedical colleges offering 292 seats to students who aspire to serve society through medical sciences. With more medical colleges in the pipeline, ESIC is poised to further expand access to quality medical education, opening doors of opportunity for countless young minds who dream of becoming doctors, regardless of the circumstances into which they were born.

Through the ‘Ward of Insured Persons (IP) Quota’ seats are reserved for the children of workers covered under ESI Scheme in all the ESIC operated Medical Institutions. About 880 seats (comprising around 700 seats for the MBBS course and the remaining seats across BDS, B.Sc. Nursing and Paramedical/Allied Health Sciences courses) are reserved in all the ESIC operated medical institutions under the ‘Ward of IP’ Quota.  This initiative is ESIC’s commitment to the workforce of India whose hard work forms the backbone of India’s growth story and ensures that their children are empowered to pursue their aspirations, build successful careers and contribute to the nation’s future.

Till date, ESIC has contributed 4,961 Doctors to Nation through its medical colleges, out of which 1,682 are children of the workers covered under the ESI Scheme. At the postgraduate level, more than 1,200 students have passed out, further strengthening the country’s pool of specialised doctors.

As India moves toward its goal of becoming a developed nation by 2047, ESIC stays committed to its mission of ensuring comprehensive social security for workers and their families, while shaping the medical workforce of tomorrow and building a healthier, stronger India for generations to come.

  1. UG Students
Sl. No.Medical CollegeTotal UG StudentsWard of IP
1Joka800416
2Rajajinagar975367
3KK Nagar933163
4Sanathnagar616235
5Faridabad725210
6Gulbarga912291
 Total49611682
  1. PG Students
Sl. No.Name of CollegeTotal PG Students
 Andheri79
 Basaidarapur185
 Faridabad91
 Gulbarga12
 Joka143
 KK Nagar155
 Rajajinagar513
 Sanathnagar89
 Total1267

Government Securities Auction Notification: Key Details and Dates

MINISTRY OF FINANCE

(Department of Economic Affairs)

(BUDGET DIVISION)

NOTIFICATION

Auction for Sale (Re-issue) of Government Security (GS)

F.No. 4(1)-B(W&M)/2026.— Government of India (GoI) hereby notifies sale (re-issue) of the following Government Securities

Name of the SecurityDate of Original IssueOriginal Tenure (yy-mm-dd)Date of Maturity  Base  MethodNotified Amount (in ₹ Crore)
7.06% GS 2041Jul 27, 202615-00-00Jul 27, 2041PriceMultiple17,000
7.43% GS 2076Jan 19, 202650-00-00Jan 19, 2076PriceMultiple11,000

GoI will have the option to retain additional subscription up to ₹2,000 Crore against each security mentioned above. The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Notification’). The Securities will be sold through Reserve Bank of India, Mumbai Office, Fort, Mumbai – 400 001 as per the terms and conditions specified in the General Notification F.No.4(2)–B(W&M)/2018, dated March 26, 2025 issued by Government of India.

Allotment to Non-competitive Bidders

  • The Government Security up to 5% of the notified amount of the sale will be allotted to eligible individuals and institutions as per the enclosed Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities (Annex).

Place and date of auction

  • The auction will be conducted by Reserve Bank of India, Mumbai Office, Fort, Mumbai-400 001 on August 21, 2026. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber system) on August 21, 2026. The non-competitive bids should be submitted between 10:30 a.m. and 11:00 a.m. and the competitive bids should be submitted between 10:30 a.m. and 11:30 a.m.

When Issued Trading

  • The Securities will be eligible for “When Issued” trading in accordance with the guidelines issued by the Reserve Bank of India.

Date of issue and payment for the security

  • The result of the auction shall be placed by the Reserve Bank of India on its website (www.rbi.org.in) on August 21, 2026. The payment by successful bidders will be on August 24, 2026 i.e. the date of re-issue. The payment for the securities will include accrued interest on the nominal value of the Securities allotted in the auction from the date of original issue / last coupon payment date to the date upto which accrued interest is due as mentioned in the table in para 6.

Payment of Interest and Re-payment of security

  • Interest will accrue on the nominal value of the Securities from the date of original issue / last coupon payment and will be paid half yearly. The Securities will be repaid at par on date of maturity.
Name of the SecurityCoupon rate (%)Date of Last Coupon paymentDate up to which accrued interest is dueDate of Coupon payments (month / date)
7.06% GS 20417.06New SecurityAug 23, 2026Jan 27 and Jul 27
7.43% GS 20767.43Jul 19, 2026Aug 23, 2026Jan 19 and Jul 19

Scheme for Non-competitive Bidding Facility in the Auction of Government of India Dated Securities and Treasury Bills

  1. Scope: With a view to encouraging wider participation and retail holding of Government securities, retail investors are allowed participation on “non-competitive” basis in select auctions of dated Government of India (GoI) securities and Treasury Bills.
  2. Definitions: For the purpose of this scheme, the terms shall bear the meaning assigned to them as under:
    1. Retail investor is any person, including individuals, firms, companies, corporate bodies, institutions, provident funds, trusts, and any other entity as may be prescribed by RBI.
    1. ‘Aggregator/Facilitator’ means a Scheduled Bank or Primary Dealer or Specified Stock Exchange or any other entity approved by RBI, permitted to aggregate the bids received from the investors and submit a single bid in the non-competitive segment of the primary auction.
    1. ‘Specified stock exchange’ means SEBI recognized Stock Exchange, which have received No Objection Certificate (NOC) from SEBI to act as aggregator/facilitator in the primary auction segment.
    1. ‘Eligible Provident Funds’ are those non-government provident funds governed by the Provident Funds Act, 1925 whose investment pattern is decided by the Government of India.

III.               Eligibility:

  1. Participation on a non-competitive basis in the auctions will be open to a retail investor who:
    1. Does not maintain current account (CA) or subsidiary General Ledger (SGL) account with the Reserve Bank of India; and
  1. Submits the bid indirectly through an Aggregator/Facilitator permitted under the scheme; or
    1. Maintains the ‘Retail Direct Gilt Account’ (RDG Account) with RBI

Exceptions:

  1. Regional Rural Banks (RRBs) and Cooperative Banks:
    1. Regional Rural Banks (RRBs) and Cooperative Banks shall be covered under this Scheme only in the auctions of dated securities in view of their statutory obligations.
    1. Since these banks maintain SGL account and current account with the Reserve Bank of India, they shall be eligible to submit their non-competitive bids directly.
  2. State Governments, eligible provident funds and Others:
    1. State Governments, eligible provident funds in India, the Nepal Rashtra Bank, Royal Monetary Authority of Bhutan and any Person or Institution, specified by the Bank, with the approval of Government, shall be covered under this scheme only in the auctions of Treasury Bills.
    1. These bids will be outside the notified amount.
    1. There will not be any restriction on the maximum amount of bid for these entities.
  3. Quantum: Allocation of non-competitive bids from retail investors will be restricted to a maximum of five percent of the aggregate nominal amount of the issue within the notified amount as specified by the Government of India, or any other percentage determined by Reserve Bank of India.

III.                Amount of Bid:

  1. The minimum amount for bidding will be ₹10,000 (face value) and therefore in multiples in ₹10,000 as hitherto.
    1. In the auctions of GoI dated securities, the retail investors can make a single bid for an amount not more than Rupees Two crore (face value) per security per auction.

IV.    Other Operational Guidelines:

  1. The retail investor desirous of participating in the auction under the Scheme would be required to maintain a depository account with any of the depositories or a gilt account under the constituent subsidiary general ledger (CSGL) account of Aggregator/Facilitator or ‘Retail Direct Gilt Account’ (RDG Account) with RBI.
    1. Under the Scheme, an investor can make only a single bid in an auction. An undertaking to the effect that the investor is making only a single bid will have to obtained and kept on record by the Aggregator/Facilitator.

Submission of Bids:

  • Each Aggregator/Facilitator on the basis of firm orders received from their constituents with submit a single consolidated non-competitive bid on behalf of all its constituents in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. Except in extraordinary circumstances such as general failure of the Reserve Bank of India Core Banking Solution (E-Kuber) system, non-competitive bid in physical form will not be accepted.

Allotment of Bids:

  • Allotment under the non-competitive segment to the Aggregator/Facilitator will be at the weighted average rate of yield/price that will emerge in the auction on the basis of the competitive bidding. The securities will be issued to the Aggregator/Facilitator against payment on the date of issue irrespective of whether they have received payment from their clients.
    • In case the aggregate amount of bid is more than the reserved amount (5% of notified amount), pro rata allotment would be made. In case of partial allotments, it will be the responsibility of the Aggregator/Facilitator to appropriately allocate securities to their clients in a transparent manner.
    • In case the aggregate amount of bids is less than the reserved amount, the shortfall will be taken to competitive portion.

Issue of Security:

  1. Security would be issued only in SGL form by RBI. The Aggregator/Facilitator has to clearly indicate at the time of tendering the non-competitive bids the amounts (face value) to be credited to their main SGL or CSGL account.
    1. Delivery in physical form from the Main SGL account is permissible at the instance of the investor subsequently.
    1. It will be the responsibility of the Aggregator/Facilitator to pass on the securities to their clients. Except in extraordinary circumstances, the transfer of securities to the client should b completed within five working days from the date of issue.

Commission/Brokerage charged to Clients:

  • The Aggregator/Facilitator can recover up to six paise per ₹ 100 as brokerage /commission/ service charges for rendering this service to their clients. Such costs may be built into the sale price or recovered separately from the clients.
    • In case, the securities are transferred subsequent to the issue date of the security, the consideration amount payable by the client to the Aggregator/Facilitator will include accrued interest from the date of issue.
    • Modalities for obtaining payment from clients towards cost of the securities, accrued interest, wherever applicable, and brokerage/commission/service charges may be worked out by the Aggregator/Facilitator as per agreement with the client.
    • It may be noted that no other costs, such as funding costs, should be built into the price or recovered from the client.

II.                 Reporting Requirements:

Aggregators/Facilitators will be required to furnish information relating to operations under the Scheme to the Reserve Bank of India (Bank) as may be called for from time to time within the time frame prescribed by the Bank.

  1. The aforesaid guidelines are subject to review by the Bank and accordingly, if and when considered necessary, the Scheme will be modified.

Recent Amendments to Central Excise Notifications 2026

MINISTRY OF FINANCE

(Department of Revenue)

NOTIFICATION

No. 43/2026-Central Excise

G.S.R. 733(E).— In exercise of the powers conferred by Section 5A of the Central Excise Act, 1944

(1 of 1944) read with Section 147 of Finance Act, 2002 (20 of 2002), the Central Government, being satisfied that it is

necessary in the public interest so to do, hereby makes the following further amendments in the notification of the

Government of India in the Ministry of Finance (Department of Revenue), No. 06/2026-Central Excise, dated the

26th March, 2026, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number

G.S.R. 205(E), dated the 26th March, 2026, namely:-

 In the said notification, in the Table, against serial number 1, in column (4), for the entry, the entry “Nil” shall be

substituted.

2. This notification shall come into force with effect from 15th August, 2026.

[F. No. 190349/13/2026-TRU]

DHEERAJ SHARMA, Under Secy.

Note.- The principal notification No. 06/2026-Central Excise, dated the 26th March, 2026 was published in the Gazette

of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 205(E), dated the 26th March, 2026

and last amended by notification No. 40/2026-Central Excise dated 3rd August, 2026 published in the Gazette of

India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 700(E), dated 3rd August, 2026.

G.S.R. 734(E).— In exercise of the powers conferred by Section 5A of the Central Excise Act, 1944

(1 of 1944) read with Section 147 of Finance Act, 2002 (20 of 2002), the Central Government, being satisfied that it is

necessary in the public interest so to do, hereby makes the following further amendments in the notification of the

Government of India in the Ministry of Finance (Department of Revenue), No. 08/2026-Central Excise, dated the 26th

March, 2026, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R.

207 (E), dated the 26th March, 2026, namely:-

In the said notification, in the Table, against serial number 1, in column (4), for the entry, the entry “Rs. 19.5

per litre” shall be substituted.

2. This notification shall come into force with effect from 15th August, 2026.

[F. No. 190349/13/2026-TRU]

DHEERAJ SHARMA, Under Secy.

Note.- The principal notification No. 08/2026-Central Excise, dated the 26th March, 2026 was published in the Gazette

of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 207 (E), dated the 26th March, 2026

and last amended by notification No. 41/2026-Central Excise dated 3rd August, 2026 published in the Gazette of

India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 701 (E), dated 3rd August, 2026

  4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]

G.S.R. 735(E).— In exercise of the powers conferred by Section 5A of the Central Excise Act, 1944

(1 of 1944) read with Section 112 of Finance Act, 2018 (13 of 2018), the Central Government, being satisfied that it

is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the

Government of India in the Ministry of Finance (Department of Revenue), No. 11/2026-Central Excise, dated the

26th March, 2026, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number

G.S.R. 210 (E), dated the 26th March, 2026, namely:-

In the said notification, in the Table, against serial number 2, in column (4), for the entry, the entry “Nil” shall

be substituted.

2. This notification shall come into force with effect from 15th August, 2026.

Note.- The principal notification No. 11/2026-Central Excise, dated the 26th March, 2026 was published in the Gazette

of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 210 (E), dated the 26th March,

2026 and last amended by Notification No. 42/2026-Central Excise dated 3rd August, 2026 published in the

Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i),vide number G.S.R. 702(E),

dated 3rd August, 2026.

Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064

and Published by the Controller of Publications, Delhi-110054.

Important Changes in Customs Tariff Value – Notification 70/2026

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
NOTIFICATION

70/2026-CUSTOMS

S.O. 4511(E).— In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied that it is necessary and expedient to do so, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3rd August, 2001, namely:-

In the said notification, for TABLE-1, TABLE-2, and TABLE-3 the following Tables shall be substituted, namely: –

“TABLE-1

Sl. No.Chapter/ heading/
sub-heading/tariff
item		Description of goodsTariff value
(US $Per Metric Tonne)
(1)(2)(3)(4)
11511 10 00Crude Palm Oil1208
21511 90 10RBD Palm Oil1220
31511 90 90Others – Palm Oil1214
41511 10 00Crude Palmolein1227
51511 90 20RBD Palmolein1230
61511 90 90Others – Palmolein1229
71507 10 00Crude Soya bean Oil1257
87404 00 22Brass Scrap (all grades)7945

TABLE-2

Sl.
No.		Chapter/ heading/
sub-heading/tariff
item		Description of goodsTariff value
(US $)
(1)(2)(3)(4)
1.71 or 98Gold, in any form, in respect of which the benefit of entries at serial number 194 of the Notification No. 45/2025-Customs dated 24.10.2025 is availed1407 per 10 grams
2.71 or 98Silver, in any form, in respect of which the benefit of entries at serial number 195 of the Notification No. 45/2025-Customs dated 24.10.2025 is availed2097 per kilogram
3.71(i) Silver, in any form, other than medallions and silver coins having silver content not below 99.9% or semi-manufactured forms of silver falling under sub-heading 7106 92;
(ii) Medallions and silver coins having silver content not below 99.9% or semi-manufactured forms of silver falling under sub-heading 7106 92, other than imports of such goods through post, courier or baggage.

Explanation. – For the purposes of this entry, silver in any form shall not include foreign currency coins, jewellery made of silver or articles made of silver.		2097 per kilogram
4.71(i) Gold bars, other than tola bars, bearing manufacturer’s or refiner’s engraved serial number and weight expressed in metric units;
(ii) Gold coins having gold content not below 99.5% and gold findings, other than imports of such goods through post, courier or baggage.

Explanation. – For the purposes of this entry, “gold findings” means a small component such as hook, clasp, clamp, pin, catch, screw back used to hold the whole or a part of a piece of Jewellery in place.		1407 per 10 grams

TABLE-3

Sl.
No.		Chapter/ heading/
sub-heading/tariff
item		Description of goodsTariff value
(US $ Per Metric Ton)
(1)(2)(3)(4)
1080280Areca nuts11574 ”

2. This notification shall come into force with effect from the 15th day of August, 2026.

[F. No. 467/01/2026-Cus.V]
INDRAJIT PANDA, Under Secy. Note: – The principal notification was published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide Notification No. 36/2001–Customs (N.T.), dated the 3rd August, 2001, vide number S. O. 748 (E), dated the 3rd August, 2001 and was last amended vide Notification No. 69/2026-Customs (N.T.), dated the 10th August 2026, e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 4432 (E), dated 10th August 2026.

Latest Amendments to Central Excise Notifications

MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION

No. 43/2026-Central Excise

G.S.R. 733(E).— In exercise of the powers conferred by Section 5A of the Central Excise Act, 1944 (1 of 1944) read with Section 147 of Finance Act, 2002 (20 of 2002), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 06/2026-Central Excise, dated the 26th March, 2026, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 205(E), dated the 26th March, 2026, namely:-

In the said notification, in the Table, against serial number 1, in column (4), for the entry, the entry “Nil” shall be substituted.

2. This notification shall come into force with effect from 15th August, 2026.

[F. No. 190349/13/2026-TRU]

Note.- The principal notification No. 06/2026-Central Excise, dated the 26th March, 2026 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 205(E), dated the 26th March, 2026 and last amended by notification No. 40/2026-Central Excise dated 3rd August, 2026 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 700(E), dated 3rd August, 2026.

G.S.R. 734(E).— In exercise of the powers conferred by Section 5A of the Central Excise Act, 1944 (1 of 1944) read with Section 147 of Finance Act, 2002 (20 of 2002), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 08/2026-Central Excise, dated the 26th March, 2026, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 207 (E), dated the 26th March, 2026, namely:-

In the said notification, in the Table, against serial number 1, in column (4), for the entry, the entry “Rs. 19.5 per litre” shall be substituted.

2. This notification shall come into force with effect from 15th August, 2026.

[F. No. 190349/13/2026-TRU]

Note.- The principal notification No. 08/2026-Central Excise, dated the 26th March, 2026 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 207 (E), dated the 26th March, 2026 and last amended by notification No. 41/2026-Central Excise dated 3rd August, 2026 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 701 (E), dated 3rd August, 2026

G.S.R. 735(E).— In exercise of the powers conferred by Section 5A of the Central Excise Act, 1944 (1 of 1944) read with Section 112 of Finance Act, 2018 (13 of 2018), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 11/2026-Central Excise, dated the 26th March, 2026, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 210 (E), dated the 26th March, 2026,

In the said notification, in the Table, against serial number 2, in column (4), for the entry, the entry “Nil” shall be substituted.

2. This notification shall come into force with effect from 15th August, 2026.

[F. No. 190349/13/2026-TRU]

Note.- The principal notification No. 11/2026-Central Excise, dated the 26th March, 2026 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 210 (E), dated the 26th March, 2026 and last amended by Notification No. 42/2026-Central Excise dated 3rd August, 2026 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i),vide number G.S.R. 702(E), dated 3rd August, 2026.

International Organic Buyer-Seller Meet in Tripura: Opportunities & Insights

The Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce & Industry, Government of India, in collaboration with the Tripura State Organic Farming Development Agency (TSOFDA) and the Department of Agriculture and Farmers Welfare, Government of Tripura. organised an International Organic Buyer-Seller Meet in Agartala, Tripura, to provide a direct platform for the state’s organic producers, Farmer Producer Organisations (FPOs), exporters and international buyers to explore new business opportunities and establish long-term market linkages.

Around 200 participants participated in the programme, including more than 20 international buyers from countries such as Australia, New Zealand, Germany, Italy, Greece and Argentina, 27 exporters, 96 farmers representing 22 FPOs/FPCs, and officials from various Government departments. The diverse participation provided a platform for direct interaction among farmers, producer organisations, exporters, Government stakeholders and international buyers, facilitating discussions on sourcing opportunities, market requirements and potential business linkages.

The event featured 12 vibrantly curated stalls showcasing the diverse range of organic and naturally produced products that Tripura has to offer, including Queen Pineapple, GI-tagged Kalikhasa Rice, Organic Ginger and Turmeric, Black Sesame, Jackfruits, Scented Lemon and other fresh and exotic organic products. The stalls provided international buyers with an opportunity to explore Tripura’s unique agricultural offerings through product displays, direct interactions with producers and discussions on potential sourcing and business opportunities.

The International Organic Buyer-Seller Meet provided a platform for meaningful commercial engagement between Tripura’s organic producers and international buyers while promoting the state’s organic identity in global markets. The initiative is expected to generate new business linkages, encourage long-term sourcing partnerships and contribute to improved market access and income opportunities for farmers.

The event was graced by Agriculture Minister, Government of Tripura Shri Ratan Lal Nath. IAS, Secretary, Agriculture & Horticulture, Government of Tripura, Shri Apurba Roy, Executive Director, IFOAM Organics Asia and senior officers from APEDA, Ms Jennifer Chang, also attended the programme and shared their perspectives on strengthening the organic sector and expanding market opportunities for organic producers.

Agriculture Minister Shri Ratan Lal Nath, appreciated the efforts to promote Tripura’s organic products in international markets and highlighted the importance of strengthening market linkages for organic farmers and producer groups. He said, “Tripura’s farmers are producing quality organic products with strong potential in domestic and international markets. Connecting our farmers and FPOs directly with international buyers can create new opportunities for better market access and income generation. The Government of Tripura will continue to support initiatives that strengthen organic farming and enable our farmers to benefit from emerging global opportunities.”

The event also featured the felicitation of organic farmers by the Agriculture Minister in recognition of their contribution to the state’s organic agriculture movement and their role in building sustainable agricultural value chains.

APEDA continues to work closely with State Governments, FPOs, exporters and other stakeholders to strengthen India’s organic export ecosystem through certification support, capacity building, infrastructure development, market promotion and international buyer linkages. The initiatives in Tripura form part of these continued efforts to expand the global footprint of India’s organic products and create sustainable opportunities for farmers across the North Eastern Region.

NITI Aayog’s Insights on India’s Manufacturing Future

NITI Aayog has released the report titled “Key Sectors to Position India as a Global Manufacturing Hub”, which through a structured and data-driven framework identifies major sectors that can fuel India’s ambition to become global manufacturing powerhouse. This report has extensively analyzed four sectors viz. Chemicals, Telecom & Networking Equipments, Textiles and Solar Photo Voltaic manufacturing.

The assessment focuses on understanding India’s manufacturing landscape in relation to global trends, sectoral growth opportunities and global benchmarks. It also examines the factors that influence manufacturing competitiveness, including market potential, infrastructure readiness, policy support, raw material availability, technology readiness, employment potential and India’s current position in the value chain.

The project seeks to identify sectors where India has significant growth potential and where targeted interventions can strengthen domestic capabilities, enhance competitiveness and value addition, and accelerate export-oriented manufacturing growth. The study also draws on the experience of leading manufacturing countries to develop sector-specific recommendations for addressing key challenges and promoting growth in the identified sectors.

The study was structured into four distinct phases:

Phase 1: Shortlisting Sectors Based on Relative Attractiveness: Identification of sectors with high growth potential based on market size and growth prospects in both domestic and global markets.

Phase 2: Comprehensive Assessment of Shortlisted Sectors: A detailed, three-pronged assessment of the shortlisted sectors to evaluate their market potential, competitiveness, and broader strategic relevance.

Phase 3: Benchmarking International Best Practices: Analyses of best practices and successful approaches adopted by top performing countries to identify relevant strategies and lessons for India’s shortlisted sectors.

Phase 4: Developing Actionable Recommendations and the Way Forward: Formulation of sector-specific, actionable recommendations and a clear roadmap to strengthen competitiveness, unlock growth potential, and position India as a global manufacturing hub.

This edition of the report focuses on four high-potential manufacturing sectors: chemicals, textiles, telecom and network equipment and solar photovoltaic manufacturing.  This will be followed by reports on 8 more sectors.

Chemical Sector:

The domestic chemicals industry is broadly led by three key consumption segments: petrochemicals and organic chemicals, specialty chemicals, and inorganic chemicals. Petrochemicals and organic chemicals form the largest segment and include polymers, synthetic fibres, performance plastics, building blocks, intermediates and end-products.

India’s chemicals industry has significant potential to enhance domestic value addition by expanding downstream production and improving feedstock utilisation. Promoting domestic manufacturing, investments in competitiveness, and strategic use of FTAs can help reduce import dependence, strengthen downstream capabilities, and support sustainable industry growth.

Textiles Sector

India’s textile and apparel industry (T&A) is one of the country’s most important manufacturing sectors, contributing approximately 2% to national GDP, 11% to manufacturing GVA, and 9% of merchandise exports. The sector is also the second-largest employer after agriculture, providing livelihoods to more than 45 million people and supporting widespread MSME-led industrial development. In fiscal 2025, India exported textile products worth USD 37.7 billion and accounted for 4.1% of global textile and apparel exports, making it the sixth-largest textile exporter globally.

India’s textile industry has significant potential to strengthen its global competitiveness by improving raw material availability, scaling up manufacturing through infrastructure support, and expanding market access through deeper trade integration. Enhancing skilling, technology adoption and productivity, while promoting technical textiles, MMF-based products, sustainable textiles and premium Indian weaves, can further drive value addition and global growth.

Telecom & Networking Equipments Sector

India is currently the world’s second-largest telecommunications market with more than 1.2 billion subscribers, approximately 85% telecom penetration, and nearly 75% internet usage. Recognizing the sector’s transformative potential, the National Telecom Policy 2025 (NTP-25) targets doubling the sector’s contribution to GDP, doubling exports of telecom products and services, creating one million new jobs, and significantly increasing investment and R&D expenditure by 2030.

India’s telecom and electronics sector has significant potential to enhance its global competitiveness by deepening localisation and strengthening domestic component manufacturing. Key priorities include promoting joint ventures and technology transfer, developing integrated industrial clusters, expanding high-potential export segments, and strengthening testing, certification and skill development to support scale, innovation and productivity.

Solar PV Sector

India had installed 106 GW of solar capacity by March 2025 and needs to add about 174 GW to meet the 2030 target of 280 GW solar capacity. The domestic PV market, estimated at Rs 32,400 crore / $3.7 billion, is expected to grow at a 17-20% CAGR between fiscal 2023 and fiscal 2030, supported by utility-scale solar, rooftop solar, open-access projects and green hydrogen-linked demand.

India’s solar manufacturing ecosystem has strong potential to deepen domestic value addition by strengthening upstream capabilities and reducing import dependence. Key priorities include technology partnerships and joint ventures, greater R&D and performance-linked support, development of integrated clean-tech clusters, and industry-led skilling. Strengthening trade partnerships and G2G frameworks can also expand export opportunities and secure global market access.

The report is envisaged as an instrument that will guide selected sectors in strengthening their manufacturing ecosystem over time. Industry and Government can collaborate to enhance India’s manufacturing prowess through specific interventions customized to overcome the existing challenges. A coordinated effort in this regard will help the country to achieve a higher growth trajectory in the manufacturing space.

Access the report here: https://www.niti.gov.in/sites/default/files/2026-08/Key-Sectors-to-Position-India-as-a-Global-Manufacturing-Hub.pdf

₹75 Lakh Retirement: Smart Investment Strategies for Stability

Retirement is a major financial milestone. After decades of earning and building wealth, the focus shifts from accumulating a corpus to making that money last.

For someone retiring with a corpus of ₹75 lakh, the key question is not simply where to invest the money. It is about deciding how much should remain liquid, how much should be parked in bank FDs, how much can be allocated to riskier assets such as stocks and mutual funds, and how much should be invested to generate a regular income.

These decisions should ideally be made after assessing your expenses, financial obligations, risk appetite and expected retirement period. Professional advice can also help ensure that the corpus is structured to balance income, liquidity, and long-term growth.

₹75 Lakh Retirement Corpus: How much should you keep in cash and liquid funds?

Atish Jain, CEO, Choice Connect, recommends keeping about one year’s expenses in liquid funds, while allocating a larger portion of the corpus to bonds and non-convertible debentures (NCDs).

“ ₹75 lakh at retirement: I would keep one year of expenses in liquid funds, nothing more. Beyond that, NCDs and bonds should carry the bulk, 45-50%, because the yield beats FDs and the income is predictable. That’s what retirees actually need, not just safety,” he said.

Jain added that the remaining corpus could be allocated to equities through a systematic withdrawal plan (SWP), while cautioning against excessive stock exposure.

“Skipping direct equity because you are planning for retirement. Having excessive exposure to equities is the biggest mistake I see. Proper planning and balance are vital as inflation doesn’t stop just because your salary does. A 25-year retirement needs growth, balance and objectivity, not just preservation,” he said.

Liquidity is an important part of any retirement strategy. Keeping roughly one year’s expenses in cash or liquid investments can help cover unexpected costs such as medical bills, home repairs and other emergencies. At the same time, keeping too much of the corpus idle can reduce its ability to generate returns and keep pace with inflation.

The remaining corpus can therefore be structured around a mix of income-generating investments and growth assets, depending on the retiree’s financial needs and risk tolerance.

Kuldeep Yadhuvanshi, Business Head, Rupee112, also stressed the importance of maintaining liquidity and avoiding unnecessary debt.

“A ₹75 lakh retirement corpus can provide a strong financial cushion, but how it is managed matters as much as how much has been saved. Retirees should keep enough cash or liquid funds for unexpected expenses and invest the balance according to their income needs and risk appetite. Avoiding unnecessary debt is equally important, as regular repayments can put pressure on a fixed retirement income,” he said.

Retirement corpus allocation: How to balance regular income and equity growth

Debt instruments such as bonds and NCDs can play an important role in generating relatively predictable income, while a measured allocation to equities can help the corpus grow and keep pace with inflation over a long retirement.

The key is balance. Retirees generally have a lower tolerance for sharp portfolio volatility and large drawdowns because they may need to withdraw money from the corpus regularly. This makes a combination of debt-oriented investments and a carefully chosen equity allocation worth considering.

Shakti Sekhawat, Business Head, BharatLoan, said retirement planning should focus not just on the size of the corpus but also on ensuring that it lasts throughout retirement.

“Retirement planning is not just about building a corpus; it is also about ensuring that the money lasts through the retirement years. For someone with a ₹75 lakh corpus, maintaining a sufficient emergency buffer is important, while the remaining amount can be allocated across income-generating and growth-oriented investments. The key is to maintain liquidity without compromising long-term financial stability,” he said.

₹75 Lakh Retirement Planning: Why there is no one-size-fits-all allocation

In short, there is no one-size-fits-all allocation for a ₹75 lakh retirement corpus. This is because family responsibilities, expenses, current debt levels, health needs, other income sources, risk tolerance and expected retirement duration all matter. These aspects are more individualistic and depend on an individual retiree’s current economic reality. That is why there cannot be a broad principle or allocation rule in such cases.

Still, the broad principle is clear: Focus on keeping enough money accessible for emergencies and health needs, use suitable investments to generate predictable income, and retain adequate growth exposure to protect purchasing power. In order to devise a meaningful retirement plan, do not hesitate to seek professional guidance.

A retirement corpus should therefore be viewed not merely as money saved, but as a financial system designed to support life and family welfare after the last pay cheque. Careful planning and periodic review can help ensure that ₹75 lakh provides financial stability, peace of mind today and greater resilience for the years ahead.

Competition Commission of India (CCI) hosts BRICS Heads of Competition Authorities 2026 meeting

Under India’s BRICS Chairship 2026, the Meeting of Heads of BRICS Competition Authorities was organised by the Competition Commission of India (CCI), on 8th August, 2026 in Udaipur, Rajasthan.

The meeting brought together the Heads and senior representatives of competition authorities from BRICS member countries to strengthen cooperation in promoting fair competition and addressing emerging challenges in competition law and policy.

 In her inaugural address, Smt. Ravneet Kaur, Chairperson, CCI underscored the shared responsibility of BRICS competition authorities to preserve and promote competitive markets that foster efficiency, consumer welfare, innovation, and opportunities for businesses to compete on merit.

Highlighting the increasingly cross-border nature of digital markets and emerging technologies, the Chairperson, CCI observed that sustained cooperation and knowledge-sharing among BRICS competition authorities would be essential for developing informed, effective, and future-ready approaches to competition enforcement.

Referring to the global transition towards renewable energy and sustainability, she noted that continued collaboration among BRICS competition authorities would contribute to fostering fair and competitive renewable energy markets while advancing the shared objectives of sustainable growth and energy security. She also emphasised that, amidst evolving market dynamics and emerging enforcement challenges, competition law interventions must remain principled, evidence-based, and firmly anchored in the core objectives of competition law.

During the Meeting, the Heads of BRICS Competition Authorities exchanged views on recent developments in competition law and policy in their respective jurisdictions, including significant enforcement initiatives, institutional developments, and emerging challenges in their domestic markets.

As part of India’s BRICS Chairship, the CCI steered a collaborative BRICS study titled “Emerging Competition Landscape in the Renewable Energy Sector in BRICS”, to develop a better understanding of the evolving competition dynamics in renewable energy markets across BRICS jurisdictions and identifying areas for future cooperation. The key findings of the Study were presented during the Meeting.

During the meeting, a Joint Statement of Heads of BRICS Competition Authorities titled “Strengthening Cooperation to Promote Fair Competition, including in Renewable Energy Markets”, was adopted. The Joint Statement reflects the shared commitment of BRICS competition authorities to promote competitive, innovative, resilient and sustainable renewable energy markets and to enhance knowledge sharing among BRICS Competition Authorities in addressing emerging competition issues associated with the global energy transition.

The Administrative Council for Economic Defense (CADE), Brazil, briefed the participants on its preparations for the Xth BRICS International Competition Conference, scheduled to be held in Brazil in 2027.

The Meeting concluded with closing remarks by the Heads of BRICS Competition Authorities, who reaffirmed their commitment for continued cooperation, dialogue, and knowledge-sharing to promote effective competition enforcement and address emerging challenges in increasingly interconnected markets.

Recovering History: British government faces a 109-year debt claim from an Indian family

British Government Faces Claim for 109-Year-Old Debt from Indian Family

The British government is facing an interesting legal challenge from the descendants of Seth Jummalal Ruthia, a notable figure from Sehore, Madhya Pradesh (MP). The family plans to recover a debt of ₹35,000 that they claim is still unpaid from 1917, when the money was borrowed during World War I.

Historical Context of the Debt

In World War I, the British government took a loan of ₹35,000 from Seth Jummalal Ruthia. This large sum from over a century ago is now the focus of a legal notice that the family plans to send to the British government. The Ruthia family’s claim is based on the idea that the British government, as a sovereign entity, must follow international law and meet its financial obligations.

Implications of International Law

Under international law, a sovereign country must meet its financial obligations, no matter how much time has passed. The Ruthia family believes this principle applies to their case, urging the British government to recognize and repay the loan made during the difficult period of World War I.

Moving Forward

As this historical claim gets more attention, it raises questions about international finance, legal responsibility, and what nations owe to their past agreements. The result of this case could spark important conversations about historical debts and the duties of governments around the world.

Stay tuned for updates on this incredible journey of an Indian family searching for justice and resolution for a debt that has lasted over a century.

CCI Approves Daiwa’s 15.01% Stake in Ambit Wealth

CCI approves subscription to 15.01% equity shareholding of Ambit Wealth Private Limited (Target) by Daiwa International Holdings Inc. (Acquirer)


The Competition Commission of India (CCI) has  approved subscription to 15.01% equity shareholding of Ambit Wealth Private Limited (Target) by Daiwa International Holdings Inc. (Acquirer).

The Proposed Combination envisaged as a subscription to equity shares amounting to 15.01% shareholding, on a fully diluted basis, of the Target by the Acquirer.

The Acquirer is an intermediary management holding company, incorporated in Japan. The Acquirer Group undertakes investment/ financial business, with securities-related business at its core.

The Target, a subsidiary of Ambit Private Limited, is engaged in multiple business activities in India, including the provision of wealth management services.

Detailed order of the Commission will follow.