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The Cabinet today gave its nod to a consortium of IOC, Oil India and BPCL buying stakes in two Russian oilfields for a total of $3.14 billion.
India, the world's biggest sugar consumer, had made a similar move in April as two straight droughts in 2014 and 2015 reduced output while demand stayed high.
The HSBC India Services Business Activity Index, which tracks changes in activity at Indian services companies on a month-by-month basis, stood at 51.1 in December
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