People of India are trendsetters and trailblazers when it comes to innovation, Prime Minister Narendra Modi said on Sunday and welcomed the world to invest in the country.

Modi's remarks came in response to a post on X which called India an ancient civilisation that is simultaneously like a startup country.

"I love your optimism and will add- the people of India are trendsetters and trailblazers when it comes to innovation," Modi said on X.

Drugmakers are seeking to limit their reliance on Chinese contractors who produce drugs used in clinical trials and early-stage manufacturing, a move that is benefiting rivals in India, according to interviews with 10 industry executives and experts.

China has for nearly 20 years been the preferred location for a range of pharmaceutical research and manufacturing services due to the low cost and speed offered by contract drugmakers there.

An India-EU Memorandum of Understanding (MoU) on semiconductors was signed on Friday, ahead of the Trade and Technology Council meeting in New Delhi, according to the Ministry of External Affairs press release.

The MoU was signed by Minister of Electronics, IT and Communications Ashwini Vaishnaw and the European Commissioner for Internal Markets Thierry Breton.

Vijaypat Singhania, former Chairman of Raymond, expressed deep disappointment witnessing his son Gautam Singhania "breaking up" the company. In an exclusive interview with Business Today, the 85-year-old businessman shared that it took a lot of time and effort to build Raymond's legacy, adding that seeing his son dismantle the company is heart-wrenching.

Despite his feelings, Vijaypat Singhania clarified that he refrains from intervening in Gautam's decisions.

The Kremlin hailed the ceasefire agreement as the "first good news for a long time" in the Israel-Hamas war. Humanitarian pauses are the only way to build efforts for a sustainable settlement, it said as Israel's government and Hamas agreed to a ceasefire in Gaza for at least four days. This will also allow aid in Gaza and release of at least 50 hostages captured by Hamas in exchange for at least 150 Palestinians jailed in Israel.

Kremlin spokesman Dmitry Peskov said, “Russia and most countries in the world have been calling for a ceasefire and for a humanitarian pause. Because it is only on the basis of these kinds of pauses that some outlines of future attempts at a sustainable settlement can be built.”