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Indian Sugar Mills Association director general resigns unexpectedly

By Mayank Bhardwaj and Rajendra Jadhav NEW DELHI (Reuters) -Abinash Verma, a leading figure in the sugar industry, has resigned unexpectedly from the Indian Sugar Mills Association (ISMA) as its director-general, the producers’ body said in a statement on Friday. As the world’s No. 1 consumer of the sweetener and the biggest producer behind Brazil, …

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Indian forces kill 62 militants this year in disputed Kashmir -police

SRINAGAR, India (Reuters) – Indian security forces have killed 62 militants, including 15 foreigners, in the disputed Jammu & Kashmir region this year, a senior police official said on Sunday. Kashmir, claimed by India and Pakistan but ruled in parts by each country, has long been the site of an armed insurrection against New Delhi. …

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Cricket-NFL, NBA stars invest in IPL’s Rajasthan franchise

By Amlan Chakraborty NEW DELHI (Reuters) – Phoenix Suns guard Chris Paul and NFL duo Larry Fitzgerald and Kelvin Beachum have invested in the Rajasthan Royals, the Indian Premier League franchise said on Sunday, underlining IPL’s growing global appeal. The popular Twenty20 league, which counts Bollywood actors and industrialists among franchise owners and attracts the …

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India MPC shifts focus to inflation control; rate hikes seen

By Swati Bhat MUMBAI (Reuters) -Almost all members of India’s monetary policy committee argued in favour of action to curb inflationary pressures at their April 6-8 meeting despite continuing risks to economic growth, minutes released on Friday showed. Although it chose to keep its key lending rate at a record low, the Reserve Bank of …

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UK’s Johnson: new deal will help India to strengthen its defence industry

NEW DELHI (Reuters) – A new defence partnership agreement signed on Friday by Britain and India will enable India to strengthen its defence industry, British Prime Minister Boris Johnson said. “Our new and expanded defence and security partnership will enable India to strengthen its own domestic defence industry as well as protecting vital shared interests …

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India’s Reliance buys at least 15 million barrels of Russian oil – traders

By Nidhi Verma NEW DELHI (Reuters) – Reliance Industries Ltd, operator of the world’s biggest oil refining complex, has ordered at least 15 million barrels of Russian oil since Russia invaded Ukraine in February, trade sources said. Reliance has bought an average 5 million barrels a month for the June quarter, the sources said. Reliance …

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India says no pressure from UK’s Johnson over India’s stance on Russia’s invasion

NEW DELHI (Reuters) – British Prime Minister Boris Johnson put no pressure on his Indian counterpart Narendra Modi over New Delhi’s position on Russia’s invasion of Ukraine when they met on Friday, India’s foreign secretary told reporters. India has not explicitly condemned the invasion by Russia, its biggest supplier of military hardware. “They did discuss …

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UBS trims India growth forecast to 7% as global macro risks worsen

(Reuters) – UBS cut India’s 2022-23 economic growth forecast by 70 basis points to 7% on Friday, citing slowing global growth due to high commodity prices, and weak local demand because of energy price hikes, inflationary pressures and a struggling labour market. The downgrade comes a week after the World Bank lowered its economic growth …

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