Law Updates

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Summary: The Bureau of Indian Standards (BIS) has released a new notification dated 15 May 2026 under the Bureau of Indian Standards (BIS) Rules, 2018, introducing the various updated Indian Standards (IS) pertaining to environmental management, sustainability, and textiles. One of the main key updates includes the establishment of IS/ISO 14001:2026, the third revision of the Environmental Management Systems standard, which also provides requirements and guidance for the organizations to improve environmental performance. The previous version of IS/ISO 14001:2015 will remain in force until 14 November 2026 before being withdrawn. BIS also introduced IS 19756:2026 for benchmarking environmental monitoring services and IS 19766 (Part 2):2026, which focuses on sustainability indicators for civil engineering works. A new textile specification, IS 19782:2026 for knitted pyjamas, has also been notified. These standards came into effect on 14 May 2026. The notification also reflects BIS’s continued emphasis on sustainability, environmental compliance, and quality assurance across industries in India.

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Summary: The Government of India just made a big move for better internet! On May 15, 2026, the Ministry of Communications (Department of Telecommunication) officially approved a new rule called TEC 21130:2025 - a standard for 5G Dual Core telecom equipment. Think of it like a safety checklist that all 5G devices must pass before they can be sold or used in India. This was done using the Telecom Act 2023 and the Telecom Rules 2025. This helps make India's 5G network faster, safer, and more reliable for everyone.

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Summary: The Directorate General of Foreign Trade (DGFT) has also introduced considerable amendments to the Standard Input-Output Norms (SIONs) M1 to M8 applicable to the gems and jewellery sector. The notification also inserts the five new notes that regulate the issuance and monitoring of Advance Authorizations (AA) for the gold imports. Under the revised framework, imports of gold under Advance Authorization, i.e., AA, will now be subject to a maximum limit of 100 kilograms (Kg). Also, first-time applicants must undergo mandatory physical verification of their manufacturing facilities by the concerned Regional Authority to confirm their operational capability and production capacity.  The DGFT has further mandated that the subsequent authorizations for gold imports will be granted only after at least 50% fulfilment of the export obligations under previous authorizations have been fulfilled. Advance Authorization, i.e., AA holders, are also required to submit fortnightly performance reports certified by an independent Chartered Accountant, detailing gold import and export transactions. Moreover, Regional Authorities must provide monthly consolidated reports to DGFT Headquarters for centralized compliance monitoring.  These amendments aim to strengthen regulatory oversight, improve tracking of export obligations, and ensure greater transparency in gold import transactions within the gems and jewellery sector.

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Summary: SEBI has issued a circular dated May 19, 2026, revising the format of the Monthly Cumulative Report (MCR) applicable to mutual funds and Asset Management Companies (AMCs). The revised reporting format will be effective from June 2026 onwards and follows the introduction of new mutual fund schemes categorised under SEBI’s categorisation and rationalisation framework.  The updated MCR format also includes the detailed disclosures on scheme-wise folios, fund mobilisation, redemptions, net inflows or outflows, assets under management (AUM), average AUM, segregated portfolios, and SIP-related data. SEBI has also introduced a separate MCR-SIF format covering equity, debt, and hybrid long-short investment strategies.  The circular or notification also clarifies that all other provisions under Clause 6.20 of the SEBI Master Circular for Mutual Funds dated March 20, 2026, will remain unchanged. The revised framework aims to improve transparency, streamline reporting practices, and strengthen investor protection in the mutual fund industry.

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Summary: A change to Annex 3(17) of Chapter 3 of the National Program for Organic Production (NPOP) 8th Edition has been announced by the Agricultural and Processed Food Products Export Development Authority (APEDA). The revised provisions also came into effect from 18 May 2026.  The amendment also updates the list of food additives, carriers, and processing aids permitted for use in processed organic food products. The revised annexure also includes approved additives such as calcium carbonate, citric acid, lactic acid, lecithin, pectin, carrageenan, guar gum, beeswax, erythritol, and several other substances used in plant- and animal-based organic products.  This notification also specifies certain conditions for the usage of certain additives. For example, some additives are permitted only if sourced from organic production, while others are restricted to some specific applications such as glazing agents, antioxidants, encapsulation materials, or acidity regulators.  APEDA clarified that the approved additives list is dynamic and may be revised further in line with amendments to the Food Safety and Standards Regulations (FSSR) or changes in the organic regulations of importing countries.

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Summary: The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, has also amended the import policy for certain silver products covered under ITC (HS) Codes 71069221 and 71069229 of Chapter 71, Schedule I of ITC (HS) 2022. The notification came into force on 16 May 2026 with immediate effect.  As per the revised policy, imports of semi-manufactured silver bars that are containing 99.9% or more silver by weight, along with the other silver bars under the specified HS codes, have been shifted from the “Free” category to “Restricted.” Earlier, these imports were permitted under the RBI rules and regulations.  The revised import conditions now make these products subject to the Policy Condition No. 7 of Chapter 71 under the ITC (HS) 2022 Import Policy. These amendments are also expected to strengthen the monitoring and regulatory oversight of silver imports into India.