India has overtaken the UK to become the world’s fifth largest economy, calculations by Bloomberg showed. The development, though it had been widely expected, is a significant milestone for the Indian economy given the history of two centuries of colonial rule.

Selected by Indra Nooyi for a key role about a decade ago, Laxman Narasimhan will emulate the former PepsiCo global chief when he takes charge as the next chief executive of cafe giant Starbucks, succeeding its founder Howard D Schultz.

Loss-making Vodafone Idea (Vi) has prepaid a short-term loan of about ₹2,700 crore to SBI in a bid to shore up lenders’ confidence as it urgently seeks fresh bank funds to tie up equipment supply deals for 5G networks and also clear some of its near ₹15,000-crore trade payables, comprising dues to tower companies, network gear vendors and other suppliers.

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