DUTY EXEMPTIONS
Tata Trusts' vice chairmen Vijay Singh and Venu Srinivasan rebut claims by Darius Khambata
Tata Trusts vice chairmen Vijay Singh and Venu Srinivasan defended their actions against criticisms from Darius Khambata regarding Tata Sons’ regulatory dealings and governance issues. They argued that engagement with the RBI has been effective and emphasized that the proposed listing is not detrimental, as it aligns with Tata's values of transparency and accountability.
Govt tightens duty exemption rules for metallurgical coke imports
The government has tightened conditions for importers seeking exemptions from anti-dumping duty on low ash metallurgical coke, a key input for steelmaking and ferroalloy production. The finance ministry has made compliance with a prescribed customs procedure mandatory for eligible importers.
Senior citizen's ₹10 lakh health insurance policy cancelled despite disclosing pre-existing disease; here's why he fought and won
A 70-year-old doctor battled Care Health Insurance over the cancellation of his policy, which the insurer claimed was due to undisclosed pre-existing conditions. The Telangana Consumer Commission ultimately ruled in his favor, emphasizing the importance of following cancellation procedures and disclosing medical history accurately. This case highlights the delicate balance between insurer obligations and policyholder transparency.
US extends 178 China tariff exclusions to January 9
The US has extended tariff exemptions on 178 categories of Chinese goods until January 9, 2027, giving businesses more time to import these products without additional duties. The move comes as Washington and Beijing continue trade negotiations, with both sides discussing commitments on agricultural exports, rare earths and critical minerals.
Advocates can't be directed not to ply non-Delhi registered pre-BS-VI vehicles: HC
The Delhi High Court has granted a reprieve to advocates and judicial staff from the vehicle restrictions imposed over pollution concerns. Justice Amit Mahajan highlighted the lack of substantiated evidence connecting vehicle emissions to air quality issues since October. He acknowledged the critical need for legal representatives to attend court to maintain justice administration. The Delhi government's restrictions targeted non-BS-VI vehicles amid rising pollution levels.
A blue brake on Trump's red agenda: Tariffs, spending and debt face a 'Democratic' reckoning in the US
Democratic control of Congress from January 2027 could constrain President Donald Trump's legislative agenda, increase scrutiny of his tariff policies and complicate fiscal decisions, Fitch's BMI said. While Trump retains executive powers over trade and immigration, prolonged funding negotiations and a potential debt-limit confrontation could raise financial market volatility.
Govt eases passport, visa rules for foreign nationals residing in India
The Union home ministry has announced relaxed passport and visa requirements for certain foreign nationals. These amendments apply to individuals including Pakistani citizens and minority refugees. Exemptions also cover members of religious communities from Afghanistan, Bangladesh, and Pakistan on humanitarian grounds. Registered Sri Lankan Tamils and Tibetans who entered India under specific permits are included in the amendments.
Centre relaxes passport, visa rules for select foreign nationals; revises Nepal, Bhutan travel norms
The Centre has announced amendments to immigration rules for several categories of foreign nationals residing in India. Pakistani citizens who entered India before December 31, 2009, may be exempt from renewing their passports. Additionally, certain refugees from Afghanistan, Bangladesh, and Pakistan fleeing persecution are included in these exemptions. Registered Sri Lankan Tamil nationals and Tibetans with specific entry permits also benefit from relaxed requirements.
Bringing gold jewellery, bars, coins from Dubai to India? Know how much a passenger can bring duty-free
A passenger who has been abroad for at least 6 months can bring up to 1 kg of gold, including bars, coins and ornaments, by paying a concessional duty in foreign currency. Ornaments studded with stones or pearls don't qualify for that concession. Know customs rules for different passengers for bringing gold from Dubai to India.
Government prepares draft sustainable aviation fuels policy; moots mandatory blending in ATF from 2027
The civil aviation ministry has circulated the draft National Policy on Sustainable Aviation Fuels which mandates use of only indigenously manufactured SAF to be blended with Aviation Turbine Fuel (ATF).
India leads on non-animal testing and its draft lab animal rules threaten to undo that
India's draft Prevention of Cruelty to Animals Rules 2026 proposes significant changes to animal research regulations and oversight. It allows for harsher experimental practices that could cause severe suffering to animals. Local committees would gain power to approve experiments without thorough central review, raising concerns about ethical standards. This shift contradicts the existing legal framework established by the Prevention of Cruelty to Animals Act 1960.
LTCG abolition may cost just Rs 40,000–50,000 crore, SBI estimates show
SBI Research estimates that abolishing long-term capital gains (LTCG) tax would cost the government just Rs 40,000–50,000 crore in FY27, far below the Rs 1.3 lakh crore collected in FY25. Weaker stock market returns and sustained foreign investor outflows have significantly reduced expected collections, suggesting the move may not derail the government's fiscal consolidation plans.
Budget 2027: Customs duty relief on 118 goods under review
The Indian government is currently reviewing customs duty concessions applicable to 118 products set to expire. This review involves input from respective line ministries and industry stakeholders regarding these exemptions. Goods under review include materials for power projects and certain medical devices. A focus is on correcting the inverted duty structure to support local manufacturing initiatives. The outcomes of this review will influence the upcoming budget for 2027-28.
Democratic wins would shift Congress' trade debate but fall short of US tariff rollbacks
If Democrats gain control of Congress, they will challenge many of Trump's tariffs through legislation and oversight. The party aims to repeal tariffs impacting communities on both sides of the Canadian border. However, Trump's veto power will hinder their efforts to pass significant reforms. Executive actions on trade may become more prominent under the Trump administration's agenda. Overall, the evolving dynamics in Congress will shape future trade discussions and policies.
India extends cotton import duty exemption till December 31
The Indian government has extended the customs duty exemption on cotton imports to December 31. This decision aims to support the textile industry by ensuring adequate raw material availability. The waiver allows greater flexibility for manufacturers to source inputs at reduced costs. Domestic cotton prices have remained firm due to production concerns, prompting this extension. The move is expected to strengthen Indian textiles in both domestic and international markets.
Commerce ministry sets up committee for better utilisation of RELIEF initiative for exporters
The commerce ministry has established a six-member committee to enhance the RELIEF initiative for exporters. This initiative aims to mitigate challenges posed by rising freight costs and insurance premiums. The committee includes officials from various government departments working to improve fund utilization. It will assess the implementation of the initiative and recommend measures for better uptake. The overall goal is to support exporters during trade disruptions in crucial regions.
Govt extends customs duty exemption on cotton imports till December 31
The Indian government has announced an extension of the customs duty exemption on cotton imports until December 31, 2026. This move aims to improve the availability of raw materials for the textile and apparel industry. The extension supports Micro, Small and Medium Enterprises (MSMEs) while easing input cost pressures for manufacturers.
India extends cotton import duty exemption till December 31 to ease textile costs
The Centre has decided to extend the customs duty exemption on cotton imports until December 31, 2026. This extension aims to improve cotton availability, particularly benefiting India's textile sector and reducing costs. Manufacturers and consumers are expected to experience relief due to this measure and its impact on input costs. Small and medium enterprises in the domestic textile industry should see improved market conditions.
Cotton shortage set to worsen as new deals drive export demand
The impact of El Nino weather conditions could further hurt domestic production, expected to fall by 3.4% to a new low in the 2026-27 crop year ended September. Cotton imports hit a record high in 2025-26 to an estimated 7.1 million bales of 170 kilograms compared to last year's imports of 5.74 million bales. Prices have also risen more than 7% in the past month.
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