The Delhi High Court has granted temporary relief to ITC in its dispute with the Food Safety and Standards Authority of India (FSSAI) over “100%” claims used for Aashirvaad M.P Chakki Atta. Justice Swarana Kanta Sharma directed that ITC’s FSSAI licence should not be cancelled or suspended until the next hearing. The court will also...
Category: Business
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India’s first tokenised bonds to launch in September
India is set to launch its first tokenised corporate bonds in September, marking a major step towards using blockchain technology in the country’s debt market. State-owned power financier REC will issue the pilot bonds, with the size expected to be below Rs 500 crore. According to people familiar with the plan, the pilot will be...
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India lifts 4-year wheat export ban to boost farmers’ earnings
India has lifted its four-year ban on wheat exports, allowing overseas shipments of wheat and wheat products with immediate effect. The government said the decision will help farmers by improving domestic prices while maintaining sufficient supplies for consumers. The Directorate General of Foreign Trade has changed the export policy from “prohibited” to “free”. The move...
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Piyush Goyal urges Japanese firms to invest and expand operations in India
Commerce and Industry Minister Piyush Goyal has invited Japanese companies to increase investments in India, strengthen local manufacturing and establish innovation centres. He said India’s growing economy, large consumer market and expanding international trade partnerships offer significant opportunities for Japanese businesses. Addressing representatives of Japanese companies, Goyal said India is opening up to greater international...
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UPI expands to 11 countries, records Rs 29.87 lakh crore in July
India’s Unified Payments Interface (UPI) continues to strengthen its position as a major digital payments platform, with operations now extending to 11 countries. The platform processed transactions worth Rs 29.87 lakh crore in July, according to the government. The Press Information Bureau said UPI has grown nearly 12,000-fold over the past decade and has become...
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Tata Sons Board to Meet September 17, Chandrasekaran Exit May Be Discussed
The Tata Sons board is likely to meet on September 17, with chairman N Chandrasekaran’s decision not to seek a third term potentially coming up for discussion. The meeting could also provide clarity on the next steps in the group’s leadership succession, although no formal proposal or vote has been confirmed. According to a Moneycontrol...
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Sugar Prices Surge: Government Tightens Import Rules to Curb Hoarding
Amid a sharp rise in sugar prices, the government has tightened rules for imported raw sugar to ensure faster availability in the domestic market and prevent hoarding. Under the revised conditions, imported raw sugar must be converted into refined sugar within two months, and the refined product must also be sold within the same period....
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India’s Affluent Consumer Base May Quadruple to 10.8 Crore by 2036, Overtake China
India’s affluent consumer population could grow more than fourfold over the next decade and overtake China by 2036, according to a new report projecting a major shift in global consumer spending power. India is estimated to have around 2.6 crore affluent consumers in 2026. The number could rise to 10.8 crore by 2036, adding approximately...
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Why Sugar Prices Are Rising in India Despite Record Sugarcane Production
India is facing rising sugar prices despite producing a record sugarcane crop, as lower sugar recovery, crop damage, exports and tightening supplies have created a major supply squeeze ahead of the festive season. Retail sugar prices, which were around Rs 48 per kg, have crossed Rs 65 in some markets. Although sugarcane production reached a...
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Lalithaa Jewellery Shares Jump 32% on Strong Stock Market Debut
Lalithaa Jewellery Mart shares made a strong debut on the Indian stock market on August 24, listing at Rs 265 apiece against an IPO issue price of Rs 201. The listing delivered a gain of 31.84% to investors who received shares in the initial public offering. The strong debut followed heavy demand for the company’s...