The Indian government has imposed import restrictions on all forms of gold, silver, and platinum articles to prevent misuse of free trade agreements (FTAs). The restrictions apply immediately, regardless of prior contracts or commitments.
Monthly gold imports have declined to 25-30 tonnes from 70-80 tonnes while recycling of old jewellery has increased following the recent hike in import duties.
India significantly increased its crude oil imports from Russia and the United Arab Emirates in June, securing supplies as the Strait of Hormuz began to reopen, with Russian barrels remaining attractive due to discounts and UAE supplies offsetting earlier uncertainties.
The Indian government has increased import duties on gold and silver from 6 per cent to 15 per cent to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis.
The gems and jewellery industry anticipates challenging times following the government's decision to increase gold import duty to 15 per cent, a move that exporters warn could fuel the grey market and heighten smuggling risks.
Ladakh Lieutenant Governor Vinai Kumar Saxena on Sunday approved a new Excise Policy, permitting the sale of hard liquor through retail vends, reducing documents to obtain a licence from 16 to six and extending the liquor availability to four more districts.
India has capped gold imports under the Advance Authorisation scheme at 100 kg, a day after significantly increasing import duties on precious metals. This move aims to tighten conditions for duty-free gold imports by jewellery exporters and curb non-essential imports amidst a ballooning import bill.
India's organised gold jewellery retail sector is projected to experience a 13-15 per cent year-on-year decline in sales volumes this fiscal, following an 8 per cent drop last year, due to elevated gold prices and a recent import duty hike, according to a Crisil report.
The Wrestling Federation of India (WFI) has formally requested the Unique Identification Authority of India (UIDAI) to permanently retain Aadhaar update histories related to date-of-birth changes and to restrict such modifications after a significant period. This move is part of WFI's intensified crackdown on age fraud in wrestling, which has seen numerous disqualifications and suspensions, aiming to ensure fair play and transparency in age-group competitions.
Titan will continue investments, even as it notes it is too early to assess how customer sentiment and store footfalls will be impacted by the Prime Minister's appeal to reduce gold consumption and the recent hike in import duty.
Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows, points out A K Bhattacharya.
The government on Thursday restored liquefied petroleum gas (LPG) supplies to commercial consumers such as hotels, restaurants and other businesses to pre-crisis levels, and lifted sector-specific restrictions imposed during the recent West Asia conflict, in a sign that energy supply concerns are easing as global markets stabilise.
The case for long-term investment in gold, however, remains intact.
US President Donald Trump stated that Iran is eager to make a deal and predicted a sharp decline in oil prices due to abundant supply, amidst a Senate resolution to limit his war powers in Iran.
'If the war continue for a longer period of time, it is just a matter of time before the government will pass on some of the price increases.'
Top leaders from the US, Iran, and Pakistan, along with other nations, have gathered in Switzerland for high-level talks aimed at restoring peace in West Asia. These negotiations follow a recently signed Memorandum of Understanding between the US and Iran, initiating a 60-day window for a deal. Discussions focus on Iran's nuclear programme and the fragile interim peace deal, amidst renewed tensions and the fluctuating status of the Strait of Hormuz.
'It shows that access to these technologies cannot be taken for granted.'
The rupee has been among the The RBI uses the Iran-US peace deal to bolster its forex reserves.
Head coach Gautam Gambhir and assistant coach Ryan ten Doeschate addressed the decision to replace Rishabh Pant with KL Rahul as Test vice-captain, emphasising the importance of game awareness and reassuring that Pant remains a key figure despite the leadership change.
Why would a country that requires close to $90 billion in net foreign capital annually to create jobs, build productive capacity, and sustain rapid growth permit $30 billion of capital to flow abroad, thereby contributing to pressure on the rupee? asks Debashis Basu.
'The situation globally is quite challenging, but we have the confidence and courage of conviction that we will come out winners even in this challenging time.'
The Senior Superintendent of Police (SSP) Jammu, Joginder Singh, chaired a high-level review meeting to assess the prevailing security scenario and review the effectiveness of intelligence-gathering mechanisms across the district.
'The MPC is likely to prioritise the key mandate, which is inflation, while relying on other instruments to stabilise the currency and bond markets.'
The Indian rupee experienced a significant surge against the US dollar following the Reserve Bank of India's measures to restrict banks from onshore forward markets. Despite this, the rupee remains under pressure from foreign capital outflows, a strong dollar, and rising crude oil prices.
The Indian rupee plummeted to an all-time low of 95.80 against the US dollar, settling at 95.66, driven by elevated crude oil prices and escalating geopolitical tensions in West Asia, despite potential RBI intervention and import curbs on gold.
'Exploration should be made easier and companies should be given operational flexibility.'
The Assam cabinet has decided to restrict the issuance of Aadhaar cards to individuals over 18 years of age, a move aimed at preventing illegal immigrants from acquiring the document. Chief Minister Himanta Biswa Sarma stated that exceptions would require district commissioner proposals and state government approval, with a complete ban for all communities over 18 set for April 1, 2027.
India generates 9.3 million tonnes of plastic waste annually, nearly 20 per cent of the world's total.
Despite a sharp increase in import duties on gold and silver to 15 per cent, the precious metals are trading at significant discounts in the domestic market, with gold seeing discounts of up to $200 an ounce and silver up to $6 an ounce.
Leading Indian jewellery bodies, including the All India Gem & Jewellery Domestic Council (GJC) and Malabar Gold & Diamonds, have expressed support for Prime Minister Narendra Modi's appeal to reduce gold imports and are advocating for enhancements to the Gold Monetisation Scheme (GMS) to unlock India's vast idle gold reserves.
The Supreme Court of India has permitted euthanasia for rabid, incurably ill, or demonstrably dangerous stray dogs to mitigate the threat to human life. The ruling includes several directives to manage the rising stray dog population, emphasising public safety and animal welfare.
Revenue intelligence and customs officers are set to intensify surveillance and increase vigilance on international borders to combat potential gold smuggling following a significant increase in customs duty on gold.
The Delhi government has advised private companies and organisations to adopt a two-day work-from-home policy, make changes to office timings, and urge employees to avail car pooling and public transport to support the fuel-saving efforts amid global uncertainties.
The government is identifying households with both liquefied petroleum gas (LPG) and piped natural gas (PNG) connections to enforce a ban on dual ownership, aiming to curb misuse and better target subsidies amid global energy supply disruptions.
The central bank is yet to consider actions such as a rate hike or mobilising dollar inflows from non-resident Indians to boost forex reserves as it cannot afford to continue with them for long when the rupee's internationalisation tops its agenda, explains Tamal Bandyopadhyay.
'Every year we import approximately $70 billion worth of gold -- closer to $72 billion in 2025-2026, an all-time record.' 'There is no parallel for this anywhere in the world. And this love for gold will not disappear overnight.'
Tamil Nadu government is taking proactive measures to curb crime against children, following the sexual assault and murder of a 10-year-old girl in Coimbatore. The government is focusing on strict policing, public awareness, and swift justice through fast-track courts.
Petrol and diesel prices in India have been increased for the second time in a week, following a long freeze on revisions. The increase comes as global crude prices surge and state-run oil firms look to recoup losses.
'When we start describing somebody as an enemy that is the start of politics and emotion after which no business can take place.' 'We need to get out of this, allow Indian businessmen to do business with China.'
The CJP's rapid rise on social media reflects growing digital dissent and youth frustration with issues like unemployment and exam-paper leaks.
