Foreign Trade Policy

India's regulatory landscape for financial record-keeping has undergone a quiet but consequential transformation over the past several years. The migration of books of accounts from physical ledgers to cloud-hosted platforms and SaaS-based enterprise resource planning systems has dramatically altered not just how financial data is stored, but where it resides and that question of where has become a matter of acute legal consequence.

The ICDS on tangible fixed assets is based on the Accounting Standard on Accounting for Fixed Assets (AS-10) notified by The Companies Accounting Standards Rules, 2006.

The Framework is applicable to Local Area Banks and Co-operative Banks, thus covering a wider set of creditors than the Prudential Framework.

Ministry of Corporate Affairs ("MCA") vide notification no. G.S.R. 291 (E) dated 7th May, 2025 made amendments in the Companies (Indian Accounting Standards) Rules, 2015.

Compulsorily Convertible Preference Shares (“CCPS”) are frequently used by companies to raise capital. Whether a mere accounting reclassification of CCPS from borrowings to share capital and securities premium as mandated under Indian Accounting Standards (‘Ind-AS’)— without receipt of any fresh consideration—can trigger taxation under section 56(2)(viib) of the Income-tax Act, 1961 (“the Act”)?

On 1ST March 2018 Union Cabinet approved the establishment and functioning of National Financial Reporting Authority, followed by approval by capital market regulator Securities Exchange Board of India.

Ind-AS 36 was introduced as the Indian Accounting Standards equivalent for IAS 36 (IFRS), covering Impairment of Assets.

Pursuant to the introduction of the Indian Accounting Standards (Ind AS) vide notification dated 16 February 2015, by the Ministry of Corporate Affairs (MCA), companies covered by...

The Ministry of Corporate Affairs (“MCA”), by way of notification dated 10.03.2026 published on 12.03.2026, has issued the Companies (Accounting Standards) Amendment Rules, 20261 (“Amendment Rules”) to amend the Companies (Accounting Standards) Rules, 2021 (“Principal Rules”).

The Directorate General of Civil Aviation (“DGCA”) has introduced a significant reform to India’s aviation safety oversight framework through General Safety Circular No. 01 of 2025 dated 19 June 2025 (the “Circular”)...

The Central government continued the imposition of anti-dumping duty on the imports of Phthalic Anhydride from China and Korea subsequent to a sunset review investigation initiated on 27th January 2026 via No. 7/26/2025-DGTR. The anti-dumping duty on the product under consideration was originally imposed vide Notification No. 43/2021 -Customs (ADD) dated 9th August 2021. The anti-dumping duty imposed shall be in the range of USD 40.08 per MT to USD 140.17 per MT and shall remain in force for a further period of five years, that is, until 4th August 2031.

The Central Government vide Notification No. 18/2026-Customs (ADD) dated 27th July 2026 has imposed anti-dumping duty on imports of Low Ash Metallurgical Coke from Australia, China, Colombia, Indonesia, Japan and Russia.

The Competition (Amendment) Act, 2023 introduced significant changes that strengthened the Competition Commission of India (CCI) to deal with contemporary issues concerning competition in the Indian markets.

The DGTR issued final findings in the anti-dumping investigation into imports of Low Ash Metallurgical Coke from Australia, China, Colombia, Indonesia, Japan and Russia. The application for the initiation of the investigation was filed by Indian Metallurgical Coke Manufacturers Association. The Authority noted that the imports from the subject countries have increased significantly in absolute and relative terms

On 28th December 2024, the Designated Authority, through its Final Finding, recommended the imposition of anti-dumping duty (ADD) on HIIR from Japan, Russia, Singapore, the United Kingdom and the United States of America.

The report noted that Thailand's economy held a strong position in the global value chain. While the complicated tariff structure continued, the use of trade remedial measures was limited.

Saudi Arabia enacted the ‘Law of Trade Remedies in International Trade' in December 2022, to regulate the imposition of trade remedial measures on imports into Saudi Arabia.

On 12th August 2026, India and the Southern African Customs Union (SACU), comprising of South Africa, Botswana, Namibia, Lesotho, and Eswatini signed the Terms of Reference (ToR) to guide negotiations for a Preferential Trade Agreement. The ToR has revived the trade negotiations which were stalled since 2010. Pursuant to the ToR, negotiations will create preferential market access for India in the SACU countries for exports of automobiles, pharmaceuticals, industrial machinery, textiles, diamonds, and agro-processed goods.

The recent economic developments have made it clear that the need of the economy is to strengthen domestic manufacturing by improving competitiveness, encouraging investments, reducing avoidable import dependence and building resilient globally integrated Indian supply chains.

The Hon'ble Delhi High Court dismissed a writ petition by an importer challenging the seizure of its ‘Designer and Decorative Stainless-Steel Coils for Wall Panelling' at ICD Dadri.