Page 30 - India

India's forex reserves rise by $2.29 billion to reach $698.95 billion

India's forex reserves rose USD 2.294 billion to USD 698.95 billion for the week ended June 13, the RBI said on Friday. The overall reserves had increased by USD 5.17 billion to USD 696.65 billion for the previous reporting week ended June 6. Forex reserves had touched an all-time high of USD 704.885 billion in end-September 2024. For the week ended June 13, foreign currency assets, a major component of the reserves, rose by USD 1.739 billion to USD 589.426 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. The gold reserves were up by USD 428 million to USD 86.316 billion during the week, the RBI said. The Special Drawing Rights (SDRs) also rose by USD 85 million to USD 18.756 billion, the central bank said. India's reserve position with the IMF also inched up by USD 43 million at USD 4.452 billio

Nippon India MF, BlackRock, others buy 10% stake in Sai Life for ₹1,505 cr

Nippon India Mutual Fund, BlackRock, Societe Generale, Morgan Stanley and others on Friday collectively bought a 10 per cent stake in Sai Life Sciences from US-based asset manager TPG for Rs 1,505 crore through open market transactions. Besides, Axis Mutual Fund (MF), Aditya Birla Sun Life MF, Invesco MF, Norway's Government Pension Fund Global, German multinational Allianz's arm Pimco, Axis Max Life Insurance, HDFC MF, Ghisallo Master Fund LP, UTI MF, DSP MF were among the buyers of Sai Life Sciences shares. These entities picked up more than 2.08 crore equity shares or 10 per cent stake in Hyderabad-based Sai Life Sciences, as per the block deal data on the BSE. The transaction, valued at around Rs 1,504.75 crore, was executed at an average price of Rs 722 apiece. Meanwhile, Nippon India MF picked up 49.86 lakh shares or 2.39 per cent holding in Sai Life Sciences. After the stake buy, Nippon India MF's stake in the company rose to 4.88 per cent from 2.48 per cent. Meanwhile, glo

Govt plans ₹5,000 cr boost for rare earths amid China export curbs

Since April 2025, China's rare earth export curbs have caused global magnet shortages. At least five major Indian firms have informally shown interest in producing rare earth materials locally

India never has, never will accept mediation with Pak: Modi tells Trump | India-US | India-Pakistan

PM Narendra Modi spoke to US President Donald Trump over the phone for 35 minutes.

VinFast partners with Global Assure to build EV service network in India

Vietnam's electric vehicle maker VinFast on Tuesday said it has partnered with Global Assure to strengthen its customer service network across India. Under the partnership, Global Assure will oversee delivery of essential customer care services, including a dedicated 24x7 call centre, nationwide roadside assistance (RSA), mobile charging solutions, and on-demand mobile service operations, the company said in a statement. "As VinFast is gearing up to launch its premium electric SUVs - the VF 7 and VF 6 in India market, this partnership underlines the brand's commitment to ensure prompt, dependable, and customer-focused support across the country," VinFast CEO Asia Pham Sanh Chau said. The company is eyeing a launch in India with its VF7 and VF6 models before the festival season this year. "With Global Assure's extensive expertise in deep understanding of Indian customer needs and pan-India presence, VinFast customers can expect efficient response times and high-quality service...,"

Strong data security vital for digital shift, says Arundhati Bhattacharya

As Indian businesses across sectors accelerate their digital transformation, robust data security is a must, according to Salesforce South Asia President and CEO Arundhati Bhattacharya. Digital transformation today is not just a business initiative but a strategic imperative that defines resilience, relevance, and long-term value creation, she said. "There are two things that we invest most in: one is data security and overall security, and the second is innovation. "We must make sure that in no way does the data go out, and that it is sufficiently encrypted and masked. It's also a layer that ensures things like bias, toxicity, and hallucinations can be ruled out," Bhattacharya said. Salesforce on Tuesday announced its partnership with bathroom and lighting solutions provider Jaquar Group. The partnership will implement Salesforce's AI-powered platform to unify customer engagement across Jaquar's business units, aiming to streamline operations, drive revenue growth and ...

India has more nuclear weapons than Pakistan, China far ahead: SIPRI report

A new SIPRI yearbook reveals that India now has more nuclear warheads than Pakistan. But China continues to outpace both South Asian neighbours.

Ola launches zero-commission model pan-India, drivers to keep full earnings

Ride-hailing platform Ola on Tuesday said it has implemented a zero per cent commission model nationwide, enabling over a million driver partners to fully retain their fare earnings with no ride or income limits. As part of the initiative, drivers can choose their plan and keep the entire fare, with no deductions or limits, the company said in a statement. This rollout, now active pan-India, covers autos, bikes, and cabs, and offers unlimited earning potential for driver partners, it added. "The launch of zero per cent commission model pan India marks a fundamental shift in the ride-hailing businesses. Removing commissions empowers driver partners with much more ownership and opportunity," an Ola Consumer spokesperson said. Asserting that the driver partners are the backbone of the mobility ecosystem, the spokesperson said, "giving them complete control of their earnings will help in creating a more resilient and sustainable ride-hailing network across the country". Ola said its s

Cyprus council member touches PM Modi's feet

Cyprus council member touches PM Modi's feet

India in touch with students in Iran to ensure their safety, says MEA

The Ministry of External Affairs' statement read, "The Indian Embassy in Tehran is continuously monitoring the security situation and engaging Indian students in Iran to ensure their safety"

Iran-Israel war: Govt to meet stakeholders to assess trade impact

The government is closely monitoring the situation arising from the Iran-Israel conflict, and a meeting with shipping lines, container firms, and other stakeholders will be held this week to assess the impact on the country's overseas trade and address any issue, a top official said on Monday. Commerce Secretary Sunil Barthwal said that the impact of the war on India's trade will depend on how the situation unfolds over a period of time. "We are watching the situation. We are also calling a meeting (this week) of all the shipping lines, the container organisations and the concerned departments, and stakeholders to understand from them that what are the kind of issues they are facing and how we can sort it out," he told reporters here. Exporters have stated that the war, if escalated further, would impact world trade and push both air and sea freight rates. They have expressed apprehensions that the conflict is expected to impact movement of merchant ships from the Strait of Hormuz

India eyes resolution on China's rare earth curbs impacting auto sector

China's restrictions on the export of rare earth elements and related magnets are affecting the domestic auto and white goods sectors

Watch: PM Modi conferred with Cyprus' highest civilian honour

Prime Minister Narendra Modi was awarded the Grand Cross of the Order of Makarios III, Cyprus’ highest civilian honour, by President Nikos Christodoulides on Monday.

India begins relocation of citizens, students as Israel-Iran conflict escalates

With tensions in West Asia surging after a wave of missile exchanges between Israel and Iran, India has started relocating its nationals—primarily students—from high-risk zones inside Iran.

70% vaccines sourced by WHO are from India; US imports 14% generics

Union Minister of State for Health Anupriya Patel said on Monday 70 per cent of total vaccines sourced by the World Health Organization (WHO) and 14 per cent of generics imported by the US are from India. She delivered the keynote address at the inaugural session of the Second Policymakers' Forum organised by the Indian Pharmacopoeia Commission (IPC) here. An international delegation of policymakers and drug regulators from 24 countries is participating in the forum. Aimed at promoting the recognition of the Indian Pharmacopoeia and collaboration in India's initiative for flagship affordable medicines -- the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) -- the Forum is being organised by the IPC under the aegis of the Ministry of Health and Family Welfare in association with the Ministry of External Affairs. In her keynote address, Patel emphasised India's commitment to ensuring equitable access to quality-assured medicines and stressed the importance of regulatory ...

India starts moving its citizens to safety from Tehran amid conflict

Indian students are being relocated from major Tehran universities to safer locations within Iran as the Israel-Iran conflict enters its fourth day

China's nuclear arsenal growing fastest globally, may hit 1,500 by 2035

Even with 1,500 warheads by 2035, China's nuclear arsenal would still be only about one-third the size of Russia's or the US's current stockpiles

India, France to intensify defence, space & civilian nuclear cooperation

External Affairs Minister S Jaishankar on Friday held wide-ranging discussions with French counterpart Jean-Nol Barrot on a range of issues and the two sides agreed to intensify bilateral cooperation in areas like defence, security, space and civilian-nuclear collaboration. Jaishankar also expressed India's "deep appreciation" to France for the strong condemnation of the cross-border terrorist attack that took place on April 22 in Jammu and Kashmir's Pahalgam and thanked Paris for its "steadfast support for India's right to defend itself against terrorism". Addressing a joint press conference in Marseille after the meeting, he underlined that there has been a "very high degree of trust" between India and France over the years as one looks at their relationship and cooperation. He said the two sides also discussed global and regional issues like the situation in the Indian subcontinent, the Ukraine conflict, the Middle East and the Indo-Pacific. "It has always been our position that

India, China to fast-track process for resuming direct air services

Foreign Secretary Vikram Misri held talks with Chinese Vice Foreign Minister Sun Weidong during which the two sides reviewed the developments in India-China bilateral relations and agreed to continue to "stabilise and rebuild ties" with priority on people-centric engagements, the MEA said on Friday. The meeting took place on Thursday and the two sides also agreed to expedite steps involved in resuming direct air services between the two countries. Misri had held talks with Sun earlier on January 27 in Beijing. Sun is on a visit to India from June 12-13, the Ministry of External Affairs said in a statement. During the meeting on Thursday, "the two sides reviewed the developments in India-China bilateral relations since their last meeting in Beijing on January 27, 2025 and agreed to continue to stabilise and rebuild ties with priority on people-centric engagements", the MEA said. The foreign secretary appreciated the Chinese side's cooperation for the resumption of the Kailash ...