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    DRI busts illegal drug manufacturing unit in Satara district in Maharashtra; two arrested
    CCI approves proposed combination inter alia involving share acquisition(s) and merger of certain entities e.g. AAPC India, Triguna, Caddie, SMPL, Tec...
    Rupee gains 20 paise to close at 95.08 against US dollar post-RBI policy decision
    TN Budget: Revenue deficit at Rs 55,775 crore, fiscal deficit estimated at Rs 1,21,819 crore
    Tatkare slams ‘gungi gudiya’ jibe against Sunetra; Cong says row being exploited for political gains
    RBI invites public comments on Draft Guidelines for ‘on tap’ Licensing of Urban Co-operative Banks
    Pakistan-origin dry dates, routed through UAE, seized at Kandla port
    RBI keeps rates unchanged, retains neutral stance; outlook uncertain on El Nino, geopolitical risks
    Government Notifies Inventory-based Cross-border E-Commerce Export Framework under Foreign Trade Policy 2023
    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
    DRI seizes 364 metric tonne (MT) banned Pakistan-origin dry dates imports worth Rs. 3 crore
    Rupee gains 13 paise to close at 95.15 against US dollar post-RBI policy decision
    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
    RBI holds interest rates for fourth straight meeting, awaits clearer inflation outlook
    Highlights of RBI's August monetary policy
    RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
    Two women held at Delhi airport with 1 kg gold concealed as silver-coated armlet
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    August 6, 2026
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    Illicit psychotropic drug manufacture triggered seizure, apprehensions, and investigation into planned trafficking under narcotics control law.
    Illicit manufacture and trafficking of Alprazolam and Diazepam, psychotropic substances regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985, were detected at a clandestine facility. Searches recovered finished and intermediary substances, together with raw materials and reaction mixtures used in manufacture, and the goods were seized under the Act. The manufacturer and an intended buyer were apprehended, with material indicating a proposed transaction for further illicit trafficking. Preliminary investigation indicated prior involvement in illegal drug production and trafficking.
    August 6, 2026
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    Competition approval for hotel-sector consolidation covers share acquisitions and merger of Accor-branded hotel entities into InterGlobe Hotels.
    Competition approval was granted for related share acquisitions and the merger of AAPC India, Caddie, Triguna, Srilanand Mansions, Techpark and Accent into InterGlobe Hotels. The combination involves entities jointly controlled by the Bhatia Family Group and the Accor Group, including hotel-owning and developing entities, hotel management and franchising operations, leasing activities, and captive consultancy and support services relating to Accor-branded hotels in India.
    August 5, 2026
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    Rupee appreciation followed unchanged monetary policy, lower crude prices, weaker dollar and expectations of orderly exchange-rate management.
    The rupee strengthened after the central bank maintained its policy rate and neutral monetary-policy stance. Lower crude oil prices, a weaker US dollar and declining US Treasury yields supported investor sentiment. Earlier measures to attract capital inflows remained part of the framework supporting the rupee, while the central bank stressed its endeavour to preserve an orderly currency trajectory. Future movement was linked to geopolitical de-escalation, global risk sentiment and US economic data.
    August 5, 2026
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    Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
    Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
    August 5, 2026
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    Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
    Political criticism followed a social-media post describing Maharashtra Deputy Chief Minister Sunetra Pawar as "gungi gudiya" in connection with a press interaction on law-and-order issues in Beed district. Congress representatives stated that the post was not a personal insult, had been deleted after adverse reactions, and was followed by an expression of regret. NCP representatives termed the expression inappropriate and stressed that the principal dignitary should conduct media interactions. Shiv Sena (UBT) representatives described the phrase as not unparliamentary and linked it to criticism of a guardian minister's public responsibilities.
    August 5, 2026
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    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
    Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
    August 5, 2026
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    Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
    Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
    August 5, 2026
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    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
    The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
    August 5, 2026
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    Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
    Gold smuggling enforcement operations under the Customs Act, 1962 involved alleged concealment and unlawful movement of foreign-origin gold. At an international airport, an alleged syndicate used an airline employee to transfer gold received from arriving passengers outside Customs and immigration controls, with gold disguised as silver-coloured bracelets. A separate railway operation concerned gold concealed in a specially made cloth waist belt and intended for delivery to a jeweller. The actions addressed concealment, evasion of Customs controls, and illicit transport of foreign-origin gold.
    August 5, 2026
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    Digital bank-record evidence gains a technology-neutral framework through expanded admissibility, certified authentication, and regulated production of bankers' books.
    The Bankers' Books Evidence Bill, 2026, modernises the evidentiary treatment of banking records by extending "bankers' books" to physical, electronic, digital, virtual and cloud-based records. It recognises electronic bank records as admissible evidence, allows production in physical or electronic form, and provides for standardised certificates authenticated by manual, digital or electronic signatures. The Bill also defines "special cause" for compelling bank officers to produce records or testify where the bank is not a party, and permits extension to specified financial-sector entities subject to conditions.
    August 5, 2026
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    Closing auction price discovery and unchanged policy rates shaped volatile equity trading amid inflation and geopolitical uncertainty.
    The Monetary Policy Committee retained the policy repo rate and neutral policy stance while seeking greater clarity on inflation risks from higher energy costs. Stock exchanges introduced the Closing Auction Session for eligible futures and options shares in the equity cash segment to determine closing prices through a more transparent and robust auction-based price-discovery mechanism. Equity markets showed volatile, limited gains amid geopolitical uncertainty, energy-price concerns, profit booking and the new mechanism's introduction.
    August 5, 2026
    Show AI Summary
    Pakistan-origin import prohibition covers third-country routing, false origin declarations, forged documents, and trans-shipment arrangements used to evade restrictions.
    The prohibition on direct or indirect import or transit of goods originating in or exported from Pakistan extends to goods routed through third countries and falsely declared as having another origin. Misdeclaration of country of origin, false descriptions, forged documentation, and trans-shipment arrangements may contravene that prohibition and invite action under the Customs Act, 1962. Dry dates declared as UAE-origin and Guggul resin declared as Somalia-origin were investigated as goods of Pakistan origin routed through Dubai.
    August 5, 2026
    Show AI Summary
    Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
    Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
    August 5, 2026
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    Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
    A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
    August 5, 2026
    Show AI Summary
    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
    Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
    August 5, 2026
    Show AI Summary
    Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
    Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Repo rate stability preserves the policy stance amid lower inflation projections, stronger growth expectations and external-sector resilience.
    Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.
    August 5, 2026
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    Polymer currency notes target improved durability as monetary policy remains data-dependent and rupee management pursues an orderly trajectory.
    Polymer currency notes are targeted for circulation at the beginning of the next financial year, subject to implementation proceeding as planned. They are intended to improve durability, especially for lower-denomination notes with high circulation velocity. Monetary policy decisions will remain data-dependent and focused on aligning headline inflation with its medium-term target. Foreign Currency Non-Resident (Bank) scheme inflows are expected to remain healthy until closure, with no proposal for premature termination. Rupee management aims to maintain an orderly exchange-rate trajectory.
    August 5, 2026
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    Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
    Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.

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      Customs, DGFT & SEZ

      Government approves Six (6) Proposals of Foreign Direct Investment (FDI)

      April 24, 2017

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      Based on the recommendations of the Foreign Investment Promotion Board in its 244th meeting held on 29th March 2017, the Government has approved six FDI proposals and recommended one proposal for the Cabinet Committee on Economic Affairs (CCEA) as per details enclosed.

      The following six (06) proposals have been approved:

      S. No

      Item No

      Name of the applicant

      Gist of the proposal

      Sector

      FDI (Rs.  crore)

      1

      5

      M/s PMC Group International

      Approval has been sought for:  (i) undertaking foreign investment upto 100%, through a newly incorporated Indian company M/s PMC YM-Pharma Private Limited and (ii) PMC YM-Pharma would purchase the manufacturing facility of an existing Indian pharmaceutical company Yegna Manojavam Drugs and Chemicals Limited.

      Pharma

      65.00

      2

      6

      M/s Enaltec Labs Private Limited

      Post facto approval has been sought for issuance of CCPS to Medtech Limited, UAE in February 2012 and subsequent transfer of such CCPS by Medtech to Scitech Limited, UAE in March 2013.

      Pharma

      No fresh inflow

      3

      20

      M/s Powervision Export and Import India Private Limited 

      M/s Powervision Export and Import India Private Limited has sought approval for foreign investment by a Bangladeshi citizen, which is an existing shareholder and director of the company.

      Whole sale Trading

      3.38

      4

      21

      M/s Crown Cement Manufacturing India Pvt Ltd

      Approval has been sought for foreign investment from a Bangladeshi entity, M/s M.I. Cement.

      Manufacturing

      15.51

      5

      23

      M/s Bigtec Pvt. Ltd (Bigtec)

      Bigtec, an Indian Company, has sought post facto approval for swap of shares to its holding Company, M/s Bigtec Innovations Private Limited (BIPL), also an Indian Company, in the fair exchange ratio (for every 1 share of Bigtec, 2 shares of BIPL was allotted).

      Pharma

      Nil

      6

      26

      M/s Entrepreneur India Media Private Limited

      Approval has been sought for undertaking the additional business of publishing scientific and technical magazines

      Publishing

      0.80

       

      The following one (01) proposal has been recommended for CCEA approval:

      S. No

      Item No

      Name of the applicant

      Gist of the proposal

      Sector

      FDI (Rs.  crore)

      1

      24

      M/s Gland Pharma Limited

      M/s Gland Pharma Limited, a brownfield pharmaceutical Indian company, is seeking approval for its initial acquisition of up to 86.08% by M/s Shanghai Fosun Pharmaceutical (Group) Company Limited, a public listed company incorporated in China through its subsidiaries outside India namely M/s Fosun Pharma Industrial Pte. Ltd. , M/s Fosun Industrial Co Limited,  Ample Up Limited, M/s Lustrous Star Limited and M/s Regal Gesture Limited  and subsequently, Fosun also has the contractual right to acquire 100% shares of Gland Pharma from the other shareholders of the Company in one or more tranches.

      Pharma

      4,315.00

       

      The following eleven (11) proposals have been deferred:

      S. No.

      Item No

      Name of the applicant

      Gist of the proposal

      Sector

      1

      2

      M/s Geodis Overseas Pvt. Ltd

      M/s Geodis Overseas Pvt. Ltd, 100% foreign owned Indian company, has sought approval to carry additional activity related to facilitation of cargo/goods insurance solutions to its customers through existing insurance companies operating in India.

      Referral Service/Insurance Service

      2

      4

      M/s Sistema Shyam TeleServices Limited

      Approval has been sought by M/s Sistema Shyam TeleServices Limited  for the exit of the resident shareholders and transfer of their holdings to the existing foreign shareholders i.e. M/s Sistema Joint Stock Financial Corporation, Russia and Federal Agency for the State Property Management (Rosimushchestvo), thereby increasing the foreign shareholding in the company from existing 73.95% to 100% and also consequently increasing the foreign shareholding in its downstream company i.e. M/s Shyam Internet Services Limited to 100%.

      Telecom

      3

      8

      M/s Hindustan Ports Private Limited

      Approval has been sought by M/s Hindustan Ports Private Limited (HPPL), for issuance of equity shares of HPPL to the non-resident shareholders of South Asia Ports Limited, P & O Ports (Kulpi) Private Limited, P & O Ports (Mundra) Private Limited and P & O Ports(Chennai) Limited (the Mauritian companies) and DP World Private Limited (an Indian company) (collectively referred as transferor companies) under a Scheme of Amalgamation and Arrangement of the Transferor Companies with HPPL.

      Development of Port/ Amalgamation

      4

      10

      M/s Datawind Innovations Private Limited

      M/s Datawind Innovations Private Limited, an existing foreign owned company, presently engaged in the activity of internet delivery platform and manufacturing and trading of computer tablets and smartphones, has sought approval to diversify into additional line of business of providing telecom services.

      Telecom

      5

      11

      M/s Vodafone Mobile Services Limited  (No. 4413)

      M/s Vodafone Mobile Services Limited, a 100% foreign owned Indian company, has sought post-facto approval for the scheme of amalgamation among Vodafone Mobile Services Limited, Vodafone Digilink Limited, Vodafone South Limited, Vodafone East Limited and Vodafone Cellular Limited.

      Telecom

      6

      12

      M/s Vodafone Mobile Services Limited  (No. 4416)

      M/s Vodafone Mobile Services Limited, a 100% foreign owned Indian company, has sought post-facto approval for the scheme of amalgamation among Vodafone Mobile Services Limited, Vodafone Spacetel Limited and Vodafone West Limited.

      Telecom

      7

      15

      Ubiquity SRL

      Approval has been sought for the foreign direct investment by Ubiquity S. R. L, by way of acquisition of 100% shares of M/s Solutions Infini Technologies (India) Private Limited, a company operating in telecom sector, in four tranches.

      Telecom

      8

      17

      M/s G4S Secure Solutions (India) Private Limited

      M/s G4S Secure Solutions (India) Private Limited, engaged in private security agency services, has sought confirmation/post facto approval for regularization of foreign investment of 49% by G4S Holdings India Limited, UK.

      Private Security Agency Services

      9

      18

      M/s HSBC Securities and Capital Markets (India) Private Limited

      Approval has been sought by M/s HSBC Securities and Capital Markets (India) Private Limited for: (i) Merger of two FIPB approval letters (ii) Incorporating a WoS which will act as a trustee company to HSBC Mutual Fund and (iii) To undertake additional activities of referral services by HSBC Invest Direct Financial Services (India) Limited, which is a subsidiary of the applicant.

      Financial Services

      10

      19

      M/s Ghel Rendev India Private Limited

      M/s Ghel Rendev India Private Limited, a newly incorporated company, has sought approval for investment by Mr. Mostaq Ahmmed, a Bangladeshi Citizen, being one of the Directors of the Company and initial subscriber to the share Capital of the company. As per the MoA the foreign investor Mr. Mostaq Ahmmed will hold 60% equity shares of the company and the remaining 40% shares will be held by resident Indian.

      Power Sector

      11

      25

      M/s Celon Laboratories Limited

      Approval has been sought for: (i) deletion of Clause 2 (downstream investment  by Celon Laboratories is made through funds From internal accrual only)  of the approval letter dated 3.8.2015

      (ii) deletion of Clause 5 (approval is further subject to compounding for the existing foreign equity of 63.09% against the approved foreign equity of 54.26%) of the approval letter dated 16.10.2015

      Pharma

       

      The following five (05) proposals have been rejected:

      S. No.

      Item No

      Name of the applicant

      Gist of the proposal

      Sector

      1

      1

      M/s PERI India Pvt. Ltd

      Approval has been sought to allow capitalization of outstanding creditors (for purchase of materials) to the extent of Euro 5,000,000 (Euros five million only) standing in the name of PERI GmbH, into 13,85,000 equity shares of PERI India at ₹ 270 per share.

      Trading

      2

      3

      M/s Limpkin Telecom Private Limited

      Approval has been sought to bring in 100% foreign investment  by Ms. Jorden Elizabeth, a UK citizen in M/s Limpkin Telecom Private Limited

      Telecom

      3

      13

      M/s LS Cable India Private Limited

      M/s LS Cable India Private Limited, a wholly foreign owned company, presently engaged in manufacturing of insulated wire and cable, has sought approval for issue of shares against second hand machinery.

      Manufacturing

      4

      14

      M/s Maxaim Network Private Limited

      M/s Maxaim Network Private Limited, a newly incorporated Indian company, has sought approval for investment by M Shoeb Chowdhury, a Bangladeshi Citizen, being initial subscriber to the share Capital of the company.  Till date, no capital has been infused in paid up capital of the company by M Shoeb.

      Wholesale

      Trading

      5

      16

      M/s Xerox India Limited

      M/s Xerox India Limited, a foreign owned public limited company, engaged in the wholesale trading of xerographic equipment, document processing products and global document outsourcing business, has sought approval/confirmation that it has taken the requisite approvals from the FIPB from time to time and was engaged in, inter alia, cash and carry wholesale trading business during the interim period 2000-2003, in compliance with all the applicable laws.

      Wholesale

      Trading

      The following three (03) proposals do not lie before FIPB:

      S. No.

      Item No

      Name of the applicant

      Gist of the proposal

      Sector

      1

      7

      M/s Marketvistas Consumer Insights Private Limited

      M/s Marketvistas Consumer Insights Private Limited, engaged in market research, has sought approval for a proposed increase in equity stake by the existing foreign investor.

      Market Research

      2

      9

      M/s Laguna Clothing Private Limited

      M/s Laguna Clothing Private Limited, a foreign owned private limited company, engaged in manufacture and export of shirts, has sought approval for conversion into a Limited Liability Partnership.

      LLP

       

      3

      22

      M/s Otto Waste Systems (India) Private Limited

      Approval has been sought for change of business model by appointing a contract manufacturer in India and carry out the manufacturing activity in India through the contract manufacturer and selling locally manufactured products to the customers in India.

      Manufacturing

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