Daily News - Thursday, 14 May 2026

India Bans Sugar Exports Till 30 September 2026 to Protect Domestic Supply (The Hindu Businessline)

India, the world’s second-largest sugar producer, banned exports of raw, white, and refined sugar until September 30, 2026, through a notification by the DGFT under the Ministry of Commerce and Industry, shifting policy from “restricted” to “prohibited.” The move comes as retail inflation hit 3.48% in April 2026, with food inflation rising to 4.2%, driven by higher cane costs and global fuel disruptions linked to the West Asia conflict. India had earlier allowed 1.59 million metric tons of exports in FY26, of which 600,000 tons were already shipped, but production is now expected to fall short of consumption for the second consecutive year due to weak cane yields. Exemptions apply to quota shipments to the EU and U.S., government-to-government deals, and consignments already in transit, ensuring continuity of strategic supplies. The ban is expected to tighten global markets, with New York raw sugar futures rising 2% and London white sugar futures up 3% immediately after the announcement. Industry bodies like ISMA (Indian Sugar Mills Association) project total production at 29.3 million tonnes in 2025‑26, but warn that El Niño-linked monsoon risks could further pressure domestic availability.

Artificial Intelligence has the potential to contribute over $500 billion to India's economy by 2030, according to a new joint study by IBM and IndiaAI (CNBC TV18)

A joint study by IBM and IndiaAI (MeitY initiative) projects that Artificial Intelligence could add over USD $500 billion (INR ₹47.81 lakh crore) to India’s economy by 2030, positioning the country among the world’s most dynamic AI-driven economies. The report, “From Promise to Power: How AI Is Redefining India’s Economic Future”, surveyed 1,500 executives and found that 80% of business leaders believe AI investments will directly influence GDP growth. Around 73% of executives expect India to be a leading AI nation by 2030, leveraging its digital public infrastructure and the world’s largest IT services workforce. However, 72% of organisations admit lagging global peers, with only 15% scaling AI cross functionally, while 77% cite lack of affordable cloud infrastructure and 57% highlight poor data quality as barriers. The study warns of a skills gap, noting that only 30% of employees have AI literacy today, which must rise to 57% by 2030, requiring a talent pool of 350 million AI‑literate professionals. MeitY Secretary S. Krishnan stressed India’s human‑centric approach to AI under Viksit Bharat, while IBM India MD Sandip Patel said trusted AI systems built on strong data foundations could become one of India’s most powerful growth engines.

India Plans USD $4.8 Billion Deep-Sea Gas Pipeline to Bypass Hormuz Crisis (Business Today)

India is fast-tracking plans for a ₹40,000 crore (USD $4.7-4.8 Billion) deep sea gas pipeline from Oman, routed via the Arabian Sea through Oman and the UAE to bypass the volatile Strait of Hormuz amid the ongoing crisis. The Ministry of Petroleum and Natural Gas has tasked GAIL, Engineers India Ltd, and Indian Oil Corporation to prepare a detailed feasibility report, building on a pre-study by the private consortium South Asia Gas Enterprise (SAGE). The pipeline, expected to take 5-7 years to complete, could be laid at depths of up to 3,450 metres, making it one of the deepest globally. It would give India access to gas supplies from Oman, UAE, Saudi Arabia, Iran, Turkmenistan, and Qatar, a region holding 2,500 trillion cubic feet of reserves. SAGE has already laid 3,000 metres of test pipeline at a cost of ₹25 crore (USD $2.9 Million) to study seabed conditions. The project comes as Iran’s near‑closure of Hormuz since February 28 disrupted global energy flows, prompting India to secure long‑term energy resilience and reduce dependence on volatile LNG spot markets.