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India Imposes New Restrictions on Duty-Free Gold Imports for Jewellery Exporters

India Imposes New Restrictions on Duty-Free Gold Imports for Jewellery Exporters

India has introduced new regulations to limit duty-free gold imports for jewellery exporters, capping imports at 100 kilograms per license. This move is part of a broader strategy to curb gold imports, as the country seeks to manage its foreign exchange reserves amid rising oil prices. The government has also increased import tariffs on gold and silver from 6% to 15%. Under the new rules, jewellery exporters must meet at least 50% of their previous export obligations to qualify for future licenses. Additionally, first-time applicants will undergo mandatory inspections to verify their manufacturing capabilities. These measures are intended to reduce the volume of gold imports, which could potentially impact the country's gold jewellery export industry, valued at $11.36 billion in the last fiscal year.
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India raises fuel prices as global energy crisis adds pressure on economy

India raises fuel prices as global energy crisis adds pressure on economy

India has raised fuel prices by 3 rupees per liter to offset losses from higher global oil prices
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India-Flagged Cargo Vessel Sinks Off Oman Coast After Suspected Attack

India-Flagged Cargo Vessel Sinks Off Oman Coast After Suspected Attack

An Indian-flagged cargo vessel, the Haji Ali, sank off the coast of Oman following a suspected drone or missile strike. The vessel, carrying livestock from Somalia to the United Arab Emirates, was attacked in the early hours, causing a fire that led to its sinking. All 14 crew members were rescued by the Omani coast guard. This incident is part of a series of attacks on commercial shipping in the Gulf region since the Iran conflict began, raising concerns about maritime security and the safety of seafarers.
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Cursor Plans Major Hiring Expansion in Asia-Pacific Amid SpaceX Deal

Cursor Plans Major Hiring Expansion in Asia-Pacific Amid SpaceX Deal

Cursor Plans Major Hiring Expansion in Asia-Pacific Amid SpaceX Deal
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IHG Hotels Resorts Partners with Adani Airport Holdings for Five New Hotels in India

IHG Hotels Resorts Partners with Adani Airport Holdings for Five New Hotels in India

IHG Hotels Resorts Partners with Adani Airport Holdings for Five New Hotels in India
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India's New 200 MW Solar Plant Boosts Clean Energy Manufacturing

India's New 200 MW Solar Plant Boosts Clean Energy Manufacturing

Union Minister of State Jitendra Singh has inaugurated a 200 MW Solar Module Manufacturing Line at Central Electronics Limited (CEL) in India. This facility is a significant addition to India's clean energy infrastructure, enhancing the country's capabilities in strategic technologies. The event, attended by key figures such as N. Kalaiselvi, Secretary of DSIR, and Chetan Jain, CMD of CEL, marks a milestone in India's renewable energy journey. Singh emphasized the role of renewable energy in India's growth trajectory, aligning with Prime Minister Narendra Modi's vision of achieving net-zero emissions by 2070. The facility reflects India's commitment to expanding its non-fossil energy sectors, including solar, wind, nuclear, and ocean-based systems.
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Indian Ride-Hailing Service Rapido Reaches $3 Billion Valuation After New Funding Round

Indian Ride-Hailing Service Rapido Reaches $3 Billion Valuation After New Funding Round

Indian ride-hailing company Rapido has raised $240 million in a new investment round, bringing its total valuation to $3 billion. The funding was led by Prosus, with participation from existing investors like WestBridge Capital and Accel. Rapido plans to use the funds to expand its operations, enhance its driver network, and improve platform technologies, focusing on high-demand regions with insufficient supply. Founded in 2015, Rapido operates in over 400 cities in India, offering affordable transport options such as motorcycles and auto-rickshaws. The company is also exploring the food delivery sector through its subsidiary, Ownly.
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India Implements New Labor Reforms to Protect Migrant Workers

India Implements New Labor Reforms to Protect Migrant Workers

India has introduced significant labor reforms aimed at improving the conditions for inter-state migrant workers. The Occupational Safety, Health and Working Conditions (Central) Rules, 2026, were notified on May 8, 2026, marking a pivotal shift in labor policy. These rules operationalize the Occupational Safety, Health and Working Conditions Code, 2020, which had been pending full implementation. The reforms redefine 'inter-state migrant workers' to include those who move independently, without contractors, and earn up to Rs 18,000 per month. Key changes include mandatory appointment letters, a digital database for tracking workers, and portability of ration cards under the One Nation One Ration Card scheme. The reforms aim to address issues highlighted by the COVID-19 migration crisis, such as lack of documentation and access to benefits.
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India's Gold Discounts Surge Amid Import Duty Hike and Profit-Taking

India's Gold Discounts Surge Amid Import Duty Hike and Profit-Taking

Gold discounts in India have reached a record high of over $200 an ounce following a recent increase in import duties. The Indian government raised tariffs on gold and silver imports from 6% to 15% in an effort to curb overseas purchases and alleviate pressure on the country's foreign exchange reserves. This move has led to a significant rise in local gold prices, prompting investors to sell off their holdings to capitalize on gains, even at substantial discounts. The surge in prices has also resulted in increased profit-taking in gold exchange-traded funds (ETFs), further adding to the market supply. Retail buyers and jewelers have largely stayed out of the market, contributing to the selling pressure. Concerns have been raised that the duty hike could encourage smuggling, as it increases the profit margins for grey-market operators who evade taxes by selling smuggled gold at discounted rates.
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Nipah Virus Spillover in India Highlights Need for Proactive Surveillance

Nipah Virus Spillover in India Highlights Need for Proactive Surveillance

The Nipah virus has been a recurring issue in India, with outbreaks in West Bengal and Kerala. The first outbreak in West Bengal occurred in 2001, with subsequent outbreaks linked to consumption of contaminated palm products. In 2026, two healthcare workers in Barasat were infected, highlighting nosocomial transmission risks. Kerala has experienced multiple spillovers since 2018, attributed to frequent contact with bat populations. Proactive surveillance systems in West Bengal and Kerala have been crucial in early detection and containment of outbreaks, emphasizing the importance of continuous monitoring and rapid response.
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Iran war to cast a shadow on BRICS foreign ministers meeting in Delhi

Iran war to cast a shadow on BRICS foreign ministers meeting in Delhi

By Aftab Ahmed and Saurabh Sharma NEW DELHI, May 13 (Reuters) - The U.S.-Israeli war on Iran is set to cast a shadow over a two-day meeting of the foreign ministers of the BRICS grouping that kicks off in New Delhi on Thursday, testing the bloc's ability to reach a unified position and produce a