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.
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.
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.
The article discusses how contemporary national policies in the critical-minerals sector interact with General Agreement on Tariffs and Trade rules 1994
The article discusses the direct investments of Indian Family offices in private market. Family Offices deploy an attractive pool of patient, long-term domestic capital into India's private markets and targeting high-growth sectors, focused on preserving and creating wealth across multiple generations.
A fixed term employment is a concept where a worker is engaged on the basis of a written contract for a fixed period of time. In such an employment arrangement, the tenure of employment is predetermined and the worker’s employment automatically comes to an end upon this predetermined tenure elapsing.
The article discusses the recently notified four labour codes that repeal and replace 29 existing labour laws. These codes expand the scope of central supervision by bringing additional sectors under the delegated authority of the central government.
The article discusses unsettled issues related to biodiversity compliances, which introduces unnecessary complexity and discourages research, ultimately disincentivizing Applicants from seeking patent protection in India.
The article discusses issues relating to ownership, valuation, and penalty thresholds for non-disclosure of foreign assets in the income tax returns, under Sections 42 and 43 of the Black Money Act.
The article discusses the recently notified Telecommunications (Telecom Cyber Security) Amendment Rules, 2025 by the Department of Telecommunications (‘DoT’) in October 2025. These Amendments introduce sweeping obligations for businesses that rely on telecom identifiers, new mechanisms for mobile number verification, and stricter International Mobile Equipment Identity (‘IMEI’) oversight.
The article discusses the Warranty and Indemnity (W&I) insurance, which protects buyers or sellers from financial losses due to warranty breaches in M&A deals. It analyses synthetic W&I insurance, a newer option for distressed deals, where warranties are negotiated between the policyholder and insurer, unlike a traditional W&I policy which relies on warranties negotiated between the buyer and the seller.
The article discusses the recently notified Digital Personal Data Protection Rules, 2025 which have set clear timelines for enforcement of DPDP Act, 2023 and Rules. While the DPDP Rules do not, in large part, deviate from the MEITY’s draft rules released in January (‘Draft Rules’), the author outlined the key changes under these Rules, as well as the way ahead for the law.
On 13 November, the Ministry of Electronics and Information Technology (‘MEITY’) notified the Digital Personal Data Protection Rules, 2025 (‘DPDP Rules’) and set out clear timelines for enforcement of the Digital Personal Data Protection Act, 2023 (‘DPDPA’) and the DPDP Rules. While the DPDP Rules do not, in large part, deviate from the MEITY’s draft rules released in January (‘Draft Rules’), we have outlined the key changes under these Rules, as well as the way ahead for the law.
This article discusses the legal foundation of the first sale principle, its practical application, and its potential role as a compliance-based tool for managing tariff exposure in a changing trade policy environment.
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