India and Nepal reviewed measures to facilitate bilateral trade and transit connectivity during a two-day Inter-Governmental Sub-Committee meeting in New Delhi. Discussions covered market access for agricultural, dairy, pharmaceutical and other products, customs cooperation, electronic Certificates of Origin, border infrastructure, rail and road connectivity, and Integrated Check Posts. Both sides also discussed measures to prevent unauthorised trade and address operational bottlenecks.
CII President R Mukundan said changes related to the Merchant Discount Rate (MDR) on UPI transactions need to balance the security of digital payments with rising capital expenditure. He also highlighted opportunities to expand BRICS trade and investment by reducing non-tariff barriers, aligning standards and improving cross-border movement of goods.
The Coal Ministry has advised Uttar Pradesh to expedite development of its captive Saharpur Jamarpani coal block in Jharkhand to strengthen long-term fuel security for thermal power plants. The ministry said UPRVUNL plants had 8.41 lakh tonnes of coal stock as of September 15 and were not in the critical-stock category.
Fintech leaders Bipin Preet Singh of MobiKwik and Sameer Nigam of PhonePe highlighted the expansion of India’s digital payments and fintech ecosystem on Prime Minister Narendra Modi’s 76th birthday. They discussed the growth of UPI, financial inclusion, entrepreneurship and the proposed UPI Merchant Discount Rate (MDR).
At SEMICON India 2026, Prime Minister Narendra Modi highlighted India’s progress in semiconductors, fintech and logistics, citing 7.8% economic growth in the latest quarter and around 3,000 km of operational dedicated freight corridors. Electronics and IT Minister Ashwini Vaishnaw said Semicon 2.0 will focus on chip design, fabs, advanced packaging, R&D, talent, and machines and materials.
The government has proposed amendments to the Drugs Rules, 1945 to strengthen oversight of Schedule H, H1 and X drugs, including recommending CCTV surveillance at medical stores. The move aims to prevent unauthorised access and sale of these medicines without valid prescriptions and enhance accountability across the pharmaceutical supply chain.
India has approved the export of up to 654 MW of electricity to Nepal for 18 hours a day through December 31 after flash floods damaged hydropower infrastructure.
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