India has prohibited the export of sugar with immediate effect until September 30, or until further orders, the government said on Wednesday, tightening overseas shipments of the sweetener amid domestic supply considerations. The ban applies to raw, white and refined sugar and marks a shift in policy from “restricted” to “prohibited”, according to a notification issued by the Directorate General...
Business
Govt raises import tariffs on gold, silver to 15% to curb imports
India has raised import tariffs on gold and silver to 15 per cent from 6 per cent, government orders said on Wednesday, as part of efforts to curb overseas purchases of the metals and ease pressure on the country’s foreign exchange reserves. The higher duties could dampen demand in the world’s second-largest consumer of precious metals, although they may help...
Govt appoints new CDS, Lieutenant General N S Raja Subramani (Retd.)
The government on Saturday appointed Lieutenant General N S Raja Subramani (Retd.) as the new Chief of Defence Staff (CDS) and Secretary of the Department of Military Affairs in the Ministry of Defence (MoD), a role in which he is likely to carry forward the process of reorganising the country’s armed forces under an integrated theatre command structure, bringing with...
Space funding hits record as Skyroot becomes India’s first space unicorn
Almost six years after India opened its space sector for private players in May 2020, the country’s booming private sector space industry has got its first unicorn. Launch vehicle startup Skyroot Aerospace on Thursday announced raising nearly $60 million at a pre-money valuation of $1.1 billion. The round was co-led by Sherpalo Ventures and GIC, a global institutional investor, with...
Vedanta is set for the next phase of growth and value creation: Anil Agarwal
In a letter to shareholders post the FY26 earnings on Tuesday, Vedanta Chairman, Anil Agarwal, said the company “is embarking on a very exciting new chapter, where strong performance meets exceptional transformation and the stage is set for the next phase of growth and value creation.” The last fiscal, according to him, was the best ever in terms of financial...
India to receive fourth unit of S-400 missile systems from Russia next month
India is likely to receive the fourth unit of the S-400 Triumf surface-to-air missile system from Russia early next month, a move expected to further strengthen the Indian Air Force’s air defence capabilities, sources in the security establishment told the news agency PTI on Tuesday (April 28). In October 2018, India had signed a USD 5 billion deal with Russia to procure...
Sun Pharma to acquire US drugmaker Organon in $11.75 billion all-cash deal
Sun Pharmaceutical Industries will acquire Organon & Co in an all-cash deal, valuing the US drugmaker at about $11.75 billion including debt, in one of India’s biggest outbound deals. The acquisition would help Sun Pharma further expand its women’s health portfolio with access to Organon’s portfolio of more than 70 products across women’s health and general medicines, commercialised across 140...
Mercedes-Benz CLA EV launched in India at Rs 55 lakh
Mercedes-Benz has launched the all-new CLA EV in India with prices starting from Rs 55 lakh (ex-showroom). The CLA is the new entry-point to Mercedes’ lineup in India, effectively replacing the A-Class Limousine, as well as the EQA and EQB EVs. The CLA is not a new nameplate for India, but this is the first time it’s being offered as an EV; globally,...
India’s Forex Reserves Jump To $703.3 Bn; Gold Holdings Climb To $122.1 Bn.
India’s foreign exchange (forex) reserves rose by $2.362 billion to $703.308 billion in the week ended April 17, according to the latest data from the Reserve Bank of India. The increase came after a $3.825 billion rise in the previous reporting week, when reserves had climbed to $700.946 billion. Gold holdings, a key component of the reserve basket, increased by...
India likely to hand over Chabahar port reins to Iranian entity
Days ahead of the expiry of an extended US sanctions waiver on India’s operations at Chabahar Port, India is moving to divest its stake in the strategic port to an Iranian entity, according to people aware of the developments. The government has worked out a proposal to disinvest the stake of India Ports Global (IPGL) in India Ports Global Chabahar...
Crude oil prices jump over $102/bbl as Iran attacks three ships amid US blockade
Crude oil prices jumped over $102 per barrel (bbl) during the early market hours on Thursday, April 23, after reports emerged of Iran attacking three ships in the Strait of Hormuz amid the ongoing ceasefire deal with the United States and the military blockade imposed by America at the key trading route. Investors were trading based on caution and uncertainty...
Tim Cook to become Apple Executive Chairman John Ternus to become Apple CEO
Apple announced that Tim Cook will become executive chairman of Apple’s board of directors and John Ternus, senior vice president of Hardware Engineering, will become Apple’s next chief executive officer effective on September 1, 2026. The transition, which was approved unanimously by the Board of Directors, follows a thoughtful, long-term succession planning process. Cook will continue in his role as...