Articles

Widening the gate of Indian Economy: Key changes under the Foreign Exchange Management (Non-Debt Instruments) (Third Amendment) Rules, 2026

The Ministry of Finance (Department of Economic Affairs) on 12 June 2026, notified the Foreign Exchange Management (Non-Debt Instruments) (Third Amendment) Rules, 2026 (‘Amendment Rules’), amending the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 (‘NDI Rules’). The Amendment Rules constitute the third amendment in the FEMA liberalisation cycle for the year 2026, following the first and second amendments, which respectively relaxed restrictions on investments from countries sharing a land border with India and liberalised foreign investment in the insurance sector opening the sector up till 100% under automatic route. The third amendment is yet another attempt to widen the gate for the Indian economy. For years, access to India's listed securities market was reserved specially for a defined class amongst which are foreign portfolio investors (FPIs) and non-resident Indians (NRIs) and overseas citizens of India (OCIs), this time the liberalisation is into the Indian capital markets.

Aman Gupta04 Aug 2026

International Trade and WTO Metals

EU’s 2026 Steel TRQ Regulation: From temporary safeguards to permanent industrial policy?

The 2026 Steel import Regulation of the European Union (EU) (‘2026 Regulation’),[1] which came into force on 1 July 2026, is not simply a continuation of earlier Steel Safeguard measures[2] applicable since 2018, but it indicates a decisive shift in the EU’s approach to regulate its steel imports in the coming years. With lowering of tariff-rate quotas (TRQs), higher out-of-quota duties and proposal for stricter origin requirements, the 2026 Regulation goes beyond the WTO’s temporary safeguard regime to a more permanent industrial policy governing steel imports into the EU. In particular, the 2026 Regulation reduces the EU's tariff-free steel quota by ~47%, doubles the out-of-quota duty from 25% to 50%, and introduces a new ‘melt and pour’ traceability requirement.

10 Jul 2026

Commercial Litigation All Industries

Contractual claims for profit: Liability, causation and quantification

The article discusses how contracts can identify and appropriately provision for losses.

07 Jul 2026

Customs FMCG +2

CDSCO’s market interventions and the new compliance framework for pharma and cosmetic operations

This article discusses the key developments driving this shift and their practical implications for industry participants.

07 Jul 2026

GST & Indirect Tax Litigation All Industries

Jurisdiction of Principal Bench of GST Appellate Tribunal: Statutory framework and early judicial signals

Various State Benches of the Goods and Services Tax Appellate Tribunal (‘GSTAT’) have recently become operational, and questions relating to jurisdiction between the Principal Bench and the State Benches have begun to arise in practice. While Section 109 of the CGST Act specifies certain categories of cases to be dealt with exclusively by the Principal Bench, early orders of the Principal Bench indicate that jurisdictional issues are not always straightforward.

Shreyash Agrawal+101 Jul 2026

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General Corporate All Industries+1
Widening the gate of Indian Economy: Key changes under the Foreign Exchange Management (Non-Debt Instruments) (Third Amendment) Rules, 2026
The Ministry of Finance (Department of Economic Affairs) on 12 June 2026, notified the Foreign Exchange Management (Non-Debt Instruments) (Third Amendment) Rules, 2026 (‘Amendment Rules’), amending the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 (‘NDI Rules’). The Amendment Rules constitute the third amendment in the FEMA liberalisation cycle for the year 2026, following the first and second amendments, which respectively relaxed restrictions on investments from countries sharing a land border with India and liberalised foreign investment in the insurance sector opening the sector up till 100% under automatic route. The third amendment is yet another attempt to widen the gate for the Indian economy. For years, access to India's listed securities market was reserved specially for a defined class amongst which are foreign portfolio investors (FPIs) and non-resident Indians (NRIs) and overseas citizens of India (OCIs), this time the liberalisation is into the Indian capital markets.
Aman Gupta04 Aug 2026
Direct Tax All Industries
Cross-border secondments and the quest for the true employer
Secondment arrangement is the most debated topic from taxation standpoint. For years, Indian courts and tribunals have grappled with the tax implications of cross-border employee secondments, pivoting continuously on whether the reimbursement of salary costs represents a taxable technical service or a mere fiscal pass-through
Prachi Bhardwaj+217 Jul 2026
International Trade and WTO Metals
EU’s 2026 Steel TRQ Regulation: From temporary safeguards to permanent industrial policy?
The 2026 Steel import Regulation of the European Union (EU) (‘2026 Regulation’),[1] which came into force on 1 July 2026, is not simply a continuation of earlier Steel Safeguard measures[2] applicable since 2018, but it indicates a decisive shift in the EU’s approach to regulate its steel imports in the coming years. With lowering of tariff-rate quotas (TRQs), higher out-of-quota duties and proposal for stricter origin requirements, the 2026 Regulation goes beyond the WTO’s temporary safeguard regime to a more permanent industrial policy governing steel imports into the EU. In particular, the 2026 Regulation reduces the EU's tariff-free steel quota by ~47%, doubles the out-of-quota duty from 25% to 50%, and introduces a new ‘melt and pour’ traceability requirement.
10 Jul 2026
Commercial Litigation All Industries
Contractual claims for profit: Liability, causation and quantification
The article discusses how contracts can identify and appropriately provision for losses.
07 Jul 2026
Customs FMCG +2
CDSCO’s market interventions and the new compliance framework for pharma and cosmetic operations
This article discusses the key developments driving this shift and their practical implications for industry participants.
07 Jul 2026
GST & Indirect Tax Litigation All Industries
Jurisdiction of Principal Bench of GST Appellate Tribunal: Statutory framework and early judicial signals
Various State Benches of the Goods and Services Tax Appellate Tribunal (‘GSTAT’) have recently become operational, and questions relating to jurisdiction between the Principal Bench and the State Benches have begun to arise in practice. While Section 109 of the CGST Act specifies certain categories of cases to be dealt with exclusively by the Principal Bench, early orders of the Principal Bench indicate that jurisdictional issues are not always straightforward.
Shreyash Agrawal+101 Jul 2026
Intellectual Property All Industries
Understanding SHANTI Act, 2025 – Analysis for patent applicants
With the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India Act, 2025[1] (‘SHANTI Act’) having come into effect on 21 December 2025, India has, to some extent, opened the gates to patenting of innovation in the nuclear energy sector. The SHANTI Act repeals the Atomic Energy Act of 1962 (‘AEA’). This change in nuclear energy governance framework supports India’s long-term objective of achieving nuclear energy capacity of 100 gigawatt by 2047, which at present stands at 8.78 gigawatts[2].
Malathi Lakshmikumaran+126 Jun 2026
Intellectual Property All Industries
A grain of confusion: ‘Smart’ copying and trade dress passing off
In the evolving landscape of modern commerce where visual appeal often dictates consumer choice, the significance of packaging has transcended its conventional role as a mere container of goods. In the realm of Intellectual Property Law, trade dress today functions as a silent yet powerful source identifier, one that shapes consumer perception, builds brand loyalty, and distinguishes products in crowded marketplaces.
Kriti Sood24 Jun 2026
Intellectual Property All Industries
Balancing equity and exclusivity: Supreme Court reinforces trade dress protection
The judgment delivered by the Hon’ble Supreme Court of India on 27 May 2026, in Amara Raja Energy and Mobility Limited v. Exide Industries Limited[1] stands as a defining precedent in the field of trade dress protection. This dispute arose in the Calcutta High Court, where the Single Judge as well as the Division Bench granted Exide an interim injunction, holding that its long-standing use of a distinctive combination of colours and design elements had acquired secondary meaning and was protectable as trade dress.
Divya Vishvapriya24 Jun 2026
Regulatory All Industries+1
Greenwashing: Penal cost hidden in ‘organic’ marketing material
n today’s world, the terms ‘organic’, ‘natural’, ‘eco-friendly’ and their friends are tossed around like they are the new currency, the buzzwords that uplift the market value, the leverage to bypass the regular route or the attribute that stands out. Looks like it is lost on us that these should not be the outlier attributes but the normal, the regular, the way things are supposed to be.
Prathiba Karthikeyan23 Jun 2026
Direct Tax All Industries
Why disclosure is no longer enough: Sanand Properties ruling reshapes reassessment and income characterization
The Hon’ble Supreme Court’s decision in Sanand Properties Pvt. Ltd. v. JCIT revisits two recurring fault lines in tax litigation—when an assessment can be reopened and how income must be characterized when commercial arrangements blur taxation principles. In doing so, the Court clarifies that the true test for reassessment is not whether basic facts/ underlying documents were merely disclosed, but whether their true implication was made known to the assessing authority
S. Vasudevan+218 Jun 2026
International Trade and WTO All Industries
Maintainability of bilateral safeguards beyond the transition period: Insights from India-Korea CEPA
In today’s world with WTO mechanism and multilateralism under severe strain, countries are increasingly looking for bilateral and regional partnerships to enhance the market access for their products and services. In this quest, countries are entering into free trade agreements (‘FTAs’ or ‘agreements’), under which they grant duty concessions, often reducing tariffs to zero from their FTA partner countries.
Pareesha Gupta+110 Jun 2026

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