GST revenue climbs 15% as India reopens ancient trade route

India's Gross Goods and Services Tax collections rose 15.4 per cent year-on-year to ₹2.11 lakh crore in July, marking the fastest monthly growth in 14 months, according to data released by the GST Department on August 1. Import-related revenues jumped 28.8 per cent while domestic collections grew at a steadier 10.1 per cent, signalling renewed momentum in cross-border commerce as geopolitical tensions eased and crude oil prices retreated (via Business Today).

Border trade route reopens after six years. Cross-border commerce between India and China resumed through Shipki La in Himachal Pradesh's Kinnaur district on August 1, ending a six-year hiatus as 16 traders began the first expedition via the ancient Himalayan route. Revenue Minister Jagat Singh Negi flagged off traders with traditional ceremonial scarves as they headed to Tibet to exchange goods under a barter system; a modern trade facility called the Chhuppan Trade Mart, built at ₹1.70 crore, now facilitates border commerce and aims to boost rural livelihoods and regional tourism (via Outlook India).

Handloom technology centre launched at IIT Delhi. Union Minister of Textiles Giriraj Singh inaugurated a Centre of Excellence for Handloom Technology at IIT Delhi on August 3, backed by a ₹11.99 crore investment designed to modernise looms, advance artificial intelligence tools, and embed digital learning across India's handloom sector. The facility will develop a national digital repository of handloom knowledge and roll out initiatives like Handloom 4.0, which will assess loom productivity, and Handloom e-Vidya, a platform for weaver training and knowledge-sharing (via ANI News).

Subhadeep Ghosh, a 57-year-old former cricketer from Assam who played domestic cricket for Assam and Railways, was appointed India's fielding coach on August 2, stepping into a role vacated by T Dilip. Ghosh brings two years of experience coaching India's women's team and contributing to support staff during major tournaments including the 2022 Women's ODI World Cup and 2023 Women's T20 World Cup. His first assignment will be the two-match Test series against Sri Lanka starting later this month, as India prepares for a busy schedule of matches in the coming weeks (via IANSLive).