India

The Economic Times | English | News | Jan. 23, 2026 | UndeterminedPolitics and Elections

Bangladesh has officially launched campaigns for its general elections scheduled for February 12, 2026, marking the first polls since the 2024 uprising that ended Sheikh Hasina's autocratic rule. The elections will select 350 lawmakers, signaling a shift in domestic and regional political dynamics following a period of turmoil that included violence and widespread online disinformation warnings.

The main contenders, the Bangladesh Nationalist Party (BNP) and the Islamist Jamaat-e-Islami party, have commenced large-scale rallies. BNP leader Tarique Rahman, returning from exile in December 2025, has begun a nationwide campaign starting in Sylhet, a city significant for its Sufi Muslim heritage. Jamaat-e-Islami initiated its campaign in Dhaka, seeking to re-enter politics after years of suppression, aligned with the Muslim Brotherhood ideology. The National Citizen Party (NCP), formed by leaders of the anti-Hasina uprising and allied with Jamaat, also launched its campaign in Dhaka.

Nobel laureate Muhammad Yunus, who was appointed caretaker prime adviser during the transitional government, will step down after the elections. Yunus, having inherited a fractured political system, is advocating for a referendum on political reforms concurrent with the polls to strengthen governance and prevent authoritarianism. He has also raised concerns about misinformation flooding social media, blaming both foreign and local sources.

Relations with India remain strained after Hasina fled there during the uprising and was subsequently sentenced to death in absentia for crimes against humanity related to the crackdown on protesters. Hasina, now 78, remains in hiding in India as Bangladesh prepares for its pivotal 2026 elections.

Trilegal | English | AcademicThink | Jan. 23, 2026 | UndeterminedLegal Exposure

The Competition Commission of India (CCI) directed three liquor vendor associations in Maharashtra to cease cartelisation activities including price fixing, control over market entry, and collectively setting retail terms. Despite finding evidence of cartel conduct, CCI refrained from monetary penalties due to mitigating factors such as first-time offence and limited financial capacity.

CCI dismissed a complaint against Google Play Store by Liberty Infospace, ruling that Google’s conduct in terminating developer accounts was justifiable to protect platform integrity and did not constitute abuse of dominance. The decision underscored the need to assess dominant position abuse in market context rather than in isolation.

In a significant enforcement action, the CCI imposed the maximum penalty based on the global turnover of six companies involved in bid rigging in solid waste management tenders for Pune Municipal Corporation. This marked the first use of the 2024 Penalty Guidelines allowing penalty calculation on global turnover when relevant turnover is infeasible. The CCI rejected mitigating factors due to the severity of the collusive conduct.

The National Competition Law Appellate Tribunal (NCLAT) largely upheld CCI’s finding that Meta and WhatsApp abused dominance by imposing unfair data-sharing terms in WhatsApp’s 2021 policy update. It upheld a penalty of INR 213.14 crore (~USD 23.6 million) but set aside a five-year ban on data sharing for advertising purposes, allowing other user consent remedies instead. Meta and WhatsApp have appealed to the Supreme Court.

NCLAT ruled that the CCI lacks jurisdiction over patent-related disputes, affirming its dismissal of a complaint against Vifor International regarding licensing and pricing of a patented pharmaceutical ingredient. The CCI has challenged this decision in the Supreme Court.

The Kerala High Court affirmed the CCI’s jurisdiction to adjudicate abuse of dominance claims in regulated sectors such as broadcasting. The court held that the Competition Act and Telecom Regulatory Authority of India Act operate concurrently, with CCI’s jurisdiction applicable for competition issues distinct from sectoral regulatory matters.

Obhan & Associates | English | AcademicThink | Jan. 23, 2026 | Regulation

The Reserve Bank of India (RBI) has notified the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, effective from October 1, 2026, replacing previous regulations from 2015 and related directives. These New Regulations aim to simplify cross-border trade compliance through consolidation, delegation, and procedural clarity without introducing new prohibitions or thresholds. They reorganize how exporters, importers, authorized dealers, and regulators manage foreign trade operations.

Key provisions include a defined timeline for service exporters to submit Export Declaration Forms (EDF) within 30 days from the month-end of invoice issuance, with consolidated EDFs allowed for multiple exports within a month. Software exports are now expressly categorized under services, aligning their procedural requirements accordingly. Export proceeds must be realized and repatriated within 15 months of shipment, invoicing, or overseas warehouse sale, with extensions permissible by authorized dealers. Project exports follow contract payment terms and may have extended timelines. For invoicing in Indian Rupees, the realization period extends to 18 months.

For transactions up to Rs. 10 lakh, authorized dealers may close export and import data entries based on self-declarations without full documentary proof, facilitating ease for smaller operators. Quarterly bulk closures of low-value entries are now permitted. Import payments are aligned with contractual terms, and authorized dealers can grant extensions as needed. Advance remittances remain allowed; however, future remittances may require financial guarantees if prior advances are not settled within the contracted period.

The New Regulations explicitly permit set-off of export receivables against import payables, third-party payments, and reduction or non-realization of export proceeds based on authorized dealers’ assessments. For transactions up to Rs. 10 lakh, exporters’ declarations suffice for realisation adjustments. Merchanting Trade Transactions are now formally regulated, requiring inward and outward remittances within six months, direct payment flows with conditional third-party involvement, and active monitoring by authorized dealers.

EDPMS and IDPMS systems have been upgraded from reporting tools to active compliance mechanisms, with authorized dealers responsible for timely entries, follow-up, and closure of transactions, including powers to close entries when advances are not repatriated or imports do not materialize. The overall framework is designed to provide predictable, system-driven foreign trade oversight anchored in clear timelines, value thresholds, and dealer-level discretion.