Stories from Mumbai · India

Fashion brand Prada has released a line of sandals manufactured in India. The move follows previous backlash regarding the brand's use of Indian cultural designs without attribution. Prada Group will release a limited edition product in collaboration with traditional Indian sandal artisans on April 27.

India produces approximately three million diamonds per year, which has collapsed global prices by as much as 40%. Documentary maker Jason Cohn reported that diamond-making foundries can be the size of a college campus. These facilities contain over one thousand large diamond-making machines operating at high temperatures. The lab-grown diamond industry is currently valued at approximately $30 billion a year. Rohit Mehta, CEO of Four Link Ventures based in Surat, stated that lab-grown diamonds are cheaper and more ethically and environmentally sourced than natural stones.

Valuedrive Technologies Pvt. Ltd., the operator of Indian used-car marketplace Spinny, is considering an initial public offering in Mumbai. The company has reportedly engaged investment banks to manage the IPO process.

India's largest pharmaceutical company by market capitalization is implementing a strategy to shift toward high-margin specialty drugs. The company is focusing on sectors including diabetes, immunology, and obesity treatments. This move aims to offset declining revenues in the United States caused by changes in customs policies.

The Indian government has labeled a viral video as fake. The video falsely depicts the Prime Minister promoting an investment scheme. Authorities are addressing the misinformation following the video's spread on social media. Authorities clarified that the Ministry of Finance has not endorsed the specific investment scheme or platform shown in the footage. The Indian Ministry of Information and Broadcasting has issued a statement denying support for a viral investment platform video. This follows concerns regarding fraudulent investment advertisements circulating online. The denial aims to prevent public financial loss from the unverified scheme.

Indian stock market values and brokerage shares declined following the central bank's tightening of lending regulations. The move aims to curb speculative trading in the F&O segment. Market volatility is expected as attention shifts to Finance Minister Nirmala Sitharaman's upcoming budget speech. Market volatility persists as investors await the budget speech by Nirmala Sitharaman.

Listed companies in India reported a 14.7% increase in net profit for the third quarter of fiscal year 2026. This represents the fastest growth rate recorded in two years.

Listed companies in India reported a 14.7% increase in profits for Q3 FY26. This represents the fastest growth rate recorded in the last two years.

Indian stock markets and brokerage shares declined following the central bank's tightening of lending regulations. The downturn follows new government measures aimed at curbing speculative trading in the F&O segment. Shares of stock brokerage firms in India have fallen sharply following new restrictions imposed by the Reserve Bank of India (RBI). The market reaction follows regulatory changes affecting brokerage operations.

Reliance Industries is constructing a large-scale battery manufacturing facility to support India's green energy transition.