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

Search Articles

International Trade and WTO FMCG
Circumvention of ADD on ‘ceramic tableware and kitchenware
The Designated Authority through anti-dumping investigation and vide Final Findings Notification dated 8 December 2017, had recommended imposition of anti-dumping duty (‘ADD’) on imports of Ceramic tableware and kitchenware, excluding knives and toilet items (‘subject goods’) originating in or exported from China PR.
Shubhi Khare10 Sept 2021
Intellectual Property All Industries+4
Unconventional trademarks: A roadmap to the future
The article discusses the increasing tread among companies and individuals to go for unconventional or non-traditional trademarks. The authors note that while colour, sound, shape of goods, smell, motion, taste, touch/texture, and hologram marks are recognized in foreign jurisdictions, the Indian Trade Marks law recognizes only colour, shape of goods and sound marks as registrable marks, as there is a requirement of graphically representation in a paper form.
Raghav Sarda30 Aug 2021
Customs All Industries
RoDTEP Scheme – Should it work within the budgetary limit?
The Central Government recently notified the much-awaited Remission of Duties and Taxes on Exported Products Scheme (‘RoDTEP Scheme’) with retrospective effect i.e., for exports from 1 January 2021, with certain exclusions. The article explores the answer to the question as to whether imposition of budgetary limit imposed by the government would allow the scheme to achieve its objective of refunding the duties and taxes which are not refunded/remitted/credited under any other schemes.
D. Kalirajan27 Aug 2021
Direct Tax All Industries
‘Liable to Tax’: History and impact on Treaties
The DTAAs , as per ‘Article 1 – Personal Scope’, applies to those persons who are residents of either of the two country. Article 4 of the DTAA defines the term ‘resident of a contracting state’. Article 4(1) of the OECD Model Convention of 2017 inter-alia provides that the term ‘resident of a contracting state’ means any person under the laws of that state, is liable to tax therein by reason of his domicile, residence, place of management or any other criteria of similar nature.
23 Aug 2021
Regulatory All Industries
Plastic Waste Management (Amendment) Rules
Plastic has numerous uses and its physical and chemical properties lead to economic success. However, our relationship with plastic is complicated, as the use of plastic impedes such commercial success in the long run, in terms of impacting the environment. The social advantages of plastic are irrefutable, it has come to occupy a central position in our day-to-day lives. However, the unsystematic removal of plastic has become a significant danger to the environment.
Vidhi Madan19 Aug 2021
Arbitration All Industries
Status of registration for arbitration under MSME Act
Micro, Small and Medium Enterprises (‘MSMEs’) are considered as the engine of economic growth. With the object of facilitating promotion, development and enhancing the competitiveness of MSMEs, the Indian Parliament enacted The Micro Small and Medium Enterprises Development Act (‘Act’) in 2006. One of the key provisions of the Act is that it provides a forum and mechanism for speedy recovery of delayed payments to micro and small enterprises.
Rashi Srivastava+119 Aug 2021
International Trade and WTO All Industries
To exclude or not to exclude: Practice on product exclusions
The defining feature of any trade remedial investigation is the product under consideration (‘PUC’). The PUC is not just the starting point of a trade remedial investigation but also the heart of it. In fact, when an application for initiation of an original investigation or even a review investigation is to be filed, the first aspect that needs to be clarified to the investigating authority is the scope of PUC. Therefore, the definition of PUC is of extreme importance.
Devinder Bagia04 Aug 2021
Competition & Antitrust Retail and E-commerce
Draft E-commerce Rules: Blurring the lines between Consumer Protection and Competition Law
The Ministry of Consumer Affairs published the draft amendments to the Consumer Protection (E-commerce) Rules, 2020 on 21 June 2021 (‘Draft Rules’). The Draft Rules seek to introduce several new concepts, restrict certain business practices of e-commerce entities and impose numerous obligations on e-commerce entities operating in India.
Neelambera Sandeepan27 Jul 2021
GST Consultancy All Industries
Shifting the burden of indirect taxes: A contract conundrum
Taxes are commonly categorized as ‘direct taxes’ and ‘indirect taxes’ due to the economic theory that indirect taxes are ultimately borne by the consumer despite being charged on the supplier. Simply put, the burden of an indirect tax can be shifted onto another and from this facet, the nomenclature ‘indirect tax’ is derived.
R. Sahana27 Jul 2021
Intellectual Property All Industries+4
Rule of anti-dissection v. Rule of dominant feature – A legal conundrum
The likelihood of confusion or deception amongst the consuming public is a sine qua non element in an action for infringement or passing off. There are various parameters that are taken into consideration while assessing the degree of likelihood of confusion between two trademarks, such as the goods and services under the disputing marks, the class of consumer, and the trade channels involved, inter alia.
24 Jul 2021
Direct Tax Real Estate & Infrastructure
Capital Gains arising out of Joint Development Agreements – Analysis of Section 45(5A) of Income-tax Act
The transfer of immovable property by land owners under mechanism of Joint development, Agreement (‘JDA’) has evolved as a preferred mode of transacting, especially in urban areas where the land owners do not have the time or expertise to develop the land and market the property on their own. They, therefore, enter into an arrangement for mutual benefit with a developer for developing and marketing the land parcels to various buyers.
22 Jul 2021
Arbitration All Industries+2
Contractual claims
The Insolvency & Bankruptcy Code, 2017 (‘Code’) was, inter alia, enacted for the resolution or liquidation of companies defaulting on their debts. These debts may include claims subject to an arbitration or sums determined in the form of an award. In the present article, we identify some potential scenarios where parties to an arbitration agreement must be conscious of the interplay between arbitration and the Code.
Puneeth Ganapathy +121 Jul 2021

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