
Indian medtech startup rings bell in NY, celebrates Nasdaq debut
The ceremony was led by Dr Sudhir Srivastava, Founder, Chairman, and CEO of SS Innovations International, joined by members of the company's management team, Board of Directors, key advisors, and special guests. This milestone marks a proud moment for India, underscoring the nation's growing leadership in advanced medical technologies and heralding a new era of innovation and international recognition for Indian-origin healthcare solutions.
SS Innovations International has made remarkable progress with its clinically validated and patented SSI Mantra Surgical Robotic System, which has been installed in 80 hospitals across 75 locations in India. The company has also expanded its presence internationally to countries including Nepal, Ecuador, Guatemala, the Philippines, Indonesia, Sri Lanka, Colombia and Ukraine. With over 4,000 successful robotic surgeries completed across more than 100 surgical procedures, the SSI Mantra is transforming access to advanced robotic surgery by offering a cost-effective solution to a broader patient population.
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Time of India
37 minutes ago
- Time of India
India's crude output down 1.7% in May; oil product exports rise 7%
New Delhi: Indigenous crude oil and condensate production in May 2025 stood at 2.4 million metric tonnes (MMT), marking a 1.7 per cent decline compared to the same month in the previous year, according to data released by the Petroleum Planning & Analysis Cell (PPAC). Among producers, ONGC recorded a production of 1.5 MMT, OIL produced 0.3 MMT, while production under the PSC/RSC regime stood at 0.6 MMT. Crude oil processed during May 2025 was 23.1 MMT, which is 0.4 per cent higher compared to May 2024. Of this, public sector and joint venture refiners processed 15.6 MMT, and private refiners processed 7.5 MMT. Total indigenous crude processed was 1.8 MMT, while imported crude processed by Indian refineries stood at 21.3 MMT. "There was a de-growth of 0.1 per cent in total crude oil processed in April-May of the current financial year as compared to the same period in the previous financial year," PPAC said. Petroleum product production in May 2025 was 24.3 MMT, registering a 1 per cent increase over May 2024. Refinery output accounted for 24 MMT, while 0.3 MMT came from fractionators. However, in April-May FY 2025-26, petroleum product output declined by 1.6 per cent over the same period in FY 2024-25. Out of the total production in May, the share of high-speed diesel (HSD) was 42.1 per cent, motor spirit (MS) 17.1 per cent, naphtha 7.1 per cent, aviation turbine fuel (ATF) 6.2 per cent, pet coke 4.9 per cent, and LPG 4.4 per cent. The remainder was contributed by bitumen, furnace oil/LSHS, LDO, lubricants, and others. Crude oil imports dropped by 3.3 per cent in May 2025 and 2.7 per cent in April-May FY 2025-26 compared to the corresponding periods of the previous year. Imports of petroleum, oil and lubricants (POL) products declined by 3.9 per cent in May 2025 and 6.9 per cent in April-May FY 2025-26. "The decrease in POL imports during April-May was mainly due to lower imports of fuel oil (FO), lubes/LOBS, and bitumen," PPAC stated. Exports of POL products rose 7 per cent in May 2025 but fell 3.4 per cent during the April-May period year-on-year. The decline in exports during the April-May period was mainly on account of reduced shipments of high-speed diesel (HSD) and aviation turbine fuel (ATF).


Time of India
37 minutes ago
- Time of India
India's nuclear energy push needs a policy overhaul, not just a power plan
India's renewed quest for nuclear power is a political call, not just because of the legislative push it requires for amending relevant laws to enable the entry of private players and ease the onus of liability but also for the new ecosystem that will have to be created to drive this forward. This will require recasting a truly coveted set-up built around developing an indigenous credible nuclear deterrent, where producing electricity serves as an important front, to one where making power will have to become a strategic goal by itself. After all, the target is 1,800 GW power capacity by 2047, of which 250 GW is planned to be nuclear. At present, India is just producing a little over 8 GW, which means executing a massive leap that cannot be done under the existing systems where all functions, from regulating to producing and waste management, are with the Department of Atomic Energy , which tightly controls the entire ecosystem for strategic reasons. The Nuclear Power Corporation of India Ltd , which runs the civilian programme, is also a DAE entity. This approach stems from the fact that Indian scientists had to build the n-weapons programme in utter secrecy, outside the non-proliferation treaty and against all odds posed by an India-targeted technology denial regime. This achievement eventually forced the US to shift its policy and recognise India's weapons programme through the Indo-US nuclear deal. Now is the time to take advantage of the avenues of expansion in the power sector. Telecom, which is also a sensitive sector, was opened up under a regulatory system. A TRAI-like model may be a good starting point to set up an independent Atomic Energy Regulatory Board, which will oversee the entire sector that's going to span across departments of power and atomic energy. Suggestions like setting up a Nuclear Energy Mission under a Cabinet Secretary-led apex inter-ministerial committee, which can carry out this transition, may be a good starting point. Essentially, what's being attempted is to establish a mechanism for nuclear energy conversations with private and foreign players through the power ministry. Also, an independent radioactive waste management authority will be needed to build confidence in this ecosystem. The US Senate Foreign Relations Committee has recently passed a bill called the International Nuclear Energy Act of 2025 , which seeks to amend 2005 US Energy Policy Act to include provisions that will actively promote the "fullest utilization of the reactors, fuel, equipment, services and technology US nuclear energy companies in civil nuclear programmes outside the country". The bill has carved out a special category for "allies and partners" with whom the US will foster a special collaborative relationship, including financing for "research, development, licencing and deployment of advanced nuclear reactor technologies for civil nuclear energy". The term 'partner' has been included only for India as it's not an ally. In fact, it's the only country named in the bill as a partner nation alongside allies. China along with Russia and Iran are among the countries put in the list of countries specifically excluded from cooperation under this proposed Act. While this puts India on a strong footing, the bill has a section devoted to India that seeks to set up a joint consultative mechanism which will submit a report every six months on the implementation of the programme in India. It also requires that partner countries have acceptable legal frameworks for liability, radioactive waste management, licensing systems for advanced reactors, among other things. At a broader level, the revamp is necessary to take advantage of these shifts to revive this sector. But from an India standpoint, it also requires a mindset shift to develop an ecosystem that legally and institutionally promotes, not deters, the growth of nuclear power - a task envisaged but unfinished from the nuclear deal.


Mint
37 minutes ago
- Mint
Sebi's Jane Street interim order made India's stock market sit up for good reason
The stock market has been forced to sit up by an interim order passed by the Securities and Exchange Board of India (Sebi) against New York-based securities firm Jane Street. The order has fired the imagination of sundry arbitrageurs and mollified traders who were alarmed by rising levels of risk in India's capital markets. Sebi has been alerting the public about rising risk in the equity futures and options (F&O) segment and taking prudential steps. Last week, after a long probe, it barred Jane Street's four trading arms from transacting in the Indian securities markets till it completes its 'detailed' investigation. The capital market regulator has also sought to disgorge ₹4,844 crore from the securities firm. Sebi's order alleges that Jane Street's associate arms indulged in market manipulation—specifically of Bank Nifty index derivatives and this index's constituent shares in the cash segment. Also Read: Mint Explainer: How Sebi sniffed out Jane Street's market manipulations Jane Street allegedly ignored a February advisory from the first-level regulator, National Stock Exchange (NSE), leading Sebi to comment in its order that it is not 'a good faith actor that can be, or deserves to be, trusted." The whole affair not only raises many questions, but points to some macro issues as well. The first question arises from the way in which Sebi chanced upon Jane Street's alleged misconduct. Media reports in April 2024 detailed how Jane Street had sued two former employees in a Manhattan court for allegedly using the firm's 'proprietary trading strategy' in their new firm. The lawyers of the accused revealed in court that the strategy was being deployed in India. This reportage alerted Sebi, which then began its initial probe into Jane Street's trades in the Indian market's cash and derivative segments, which included directing NSE to keep a close watch on the firm's trading patterns. While Sebi must be lauded for its alacrity and the time it took to marshal and establish the facts of this case—from April 2024 to July 2025—a question could be raised about its source of information. To be fair, Sebi can always respond to alerts of any viable origin. However, Jane Street's trading strategy was at work for more than a year before April 2024, having flown below Sebi's vigilance and surveillance radars. Thereby hangs a lesson. Also Read: Street theatre: Sebi pins down Jane Street for manipulation Another issue that should be debated is whether Jane Street's trading strategy was illegal—or 'manipulation" as per the Indian regulator's interim order. Many F&O traders have adopted similar strategies in the past and escaped scrutiny. Jane Street's large volumes in a shallow market made the difference; but then, can the securities firm be blamed for structural deficiencies in our derivatives market? What's more important, though, is the fact that Jane Street allegedly profited on the back of uninformed derivatives trading by retail investors. Sebi's September 2024 report had stated that over 90% of retail investors in the F&O market had incurred losses between 2021-22 and 2023-24. This then calls for a larger investigation into whether retail investors were led up the garden path and if the entities that operated as pied pipers were acting on behalf of Jane Street. Also Read: F&O action: Can new Sebi rules tame wild bulls of the derivatives market? Sebi's F&O risk mitigation strategy, which has included raising the bar for futures and options trading, may need some course correction. The regulator must ensure that the bar is raised sufficiently to deter non-institutional investors from treating the derivatives segment of the market like a casino without a cover charge.