US, UN express concern about India’s religion-based citizenship law
By Kanishka Singh WASHINGTON (Reuters) -The U.S. government and the United Nations on Tuesday expressed concerns about a contentious religion-based citizenship law in India, with the UN calling the legislation “fundamentally discriminatory…
Moody’s cuts India’s 2022 GDP growth forecast to 7%, sees 2023 growth at 4.8%
MUMBAI (Reuters) – Rating agency Moody’s cut India’s growth projections for the current and next calendar year due to higher inflation, high interest rates and slowing global growth that, it believes, will…
India’s Gujarat state suspends senior local administrator for bridge collapse
By Sumit Khanna MORBI, India (Reuters) – A senior administrative official in the Indian town of Morbi has been suspended by the Gujarat state government following the collapse of a bridge that…
Flags at half-mast as India’s Gujarat mourns deadly bridge collapse
By Shivam Patel MORBI, India (Reuters) – India’s Gujarat state on Wednesday mourned the death of 135 people from a bridge collapse on the weekend, with the national flag at half-mast in…
India’s April-Sept fiscal deficit touches $74.91 billion, tax receipts rise
NEW DELHI (Reuters) – India’s federal fiscal deficit in the first half of the financial year through September rose to 6.20 trillion rupees ($74.91 billion) from 5.27 trillion a year earlier, though…
KKR, others to invest $500 million in India’s UPL units
BENGALURU (Reuters) – India’ UPL Ltd said on Friday U.S. investment firm KKR & Co Inc and others would invest $500 million in the company’s units, as the agrochemicals maker looks to…
India’s September WPI inflation eases to 10.70% y/y -govt
NEW DELHI (Reuters) – India’s annual wholesale price-based inflation (WPI) eased in September to 10.70% year-on-year from 12.41% the previous month, government data showed on Friday. The September WPI was lower than…
India’s retail inflation rate likely peaked in September – analysts
MUMBAI (Reuters) – India’s consumer price-led inflation is expected to gradually decelerate after September, helped by a fall in commodity prices and easing food inflation, analysts said. India’s annual retail inflation accelerated…
India’s August industrial output fell for the first time 18 months
NEW DELHI (Reuters) -India’s industrial output unexpectedly fell year-on-year in August for the first time in 18 months, as heavy rains dampened mining and construction activity while a drop in manufacturing indicated…
India’s IT ministry says Apple AirPods to be made in India – CNBC TV18
NEW DELHI (Reuters) – Apple Inc’s wireless earphones AirPods will be manufactured in India, television channel CNBC TV18 reported on Monday, citing the country’s IT ministry. The iPhone 14 will be manufactured…
India’s Adani Group in talks to buy Jaiprakash’s cement unit for $606 million – Bloomberg
BENGALURU (Reuters) -India’s Adani Group is in advanced talks to buy debt-laden Jaiprakash Associates Ltd’s cement business for $606 million, Bloomberg News reported on Monday, citing sources. Separately, Jaiprakash Associates said its…
India’s RBI intervening in NDF market, monitoring rupee positions – traders
By Nimesh Vora MUMBAI (Reuters) – The Reserve Bank of India has been selling dollars in the non-deliverable forward (NDF) market via local banks based in India’s GIFT City International Financial Services…
India’s RBI sells dollars as rupee hits record low on U.S. rate hike fears
MUMBAI (Reuters) – The Reserve Bank of India likely sold dollars via state-run banks on Friday after the rupee slid below 82 to a record low against the dollar on concerns over…
India’s Nykaa and Dubai’s Apparel Group forge Gulf alliance
NEW DELHI (Reuters) -Indian cosmetics and fashion retailer Nykaa and Dubai-based lifestyle and fashion conglomerate Apparel Group have struck an alliance to expand in the Gulf region, the companies said on Thursday.…
India’s Edelweiss AM says repo rate may hit 6.75% on inflation woes
By Anushka Trivedi and Dharamraj Lalit Dhutia MUMBAI (Reuters) – The Reserve Bank of India may have to hike the repo rate to as much as 6.75% as inflation remains a threat,…
India’s weakening exports slows trade deficit moderation – Barclays
MUMBAI (Reuters) – India’s large trade deficit is beginning to consolidate, but the weaker exports are prompting a more gradual adjustment than expected, Barclays Bank said in a note on Tuesday. India’s…
India’s Hero MotoCorp to invest $60 million in Zero Motorcycles
BENGALURU (Reuters) -Indian bikemaker Hero MotoCorp said on Thursday it will invest $60 million in California-based Zero Motorcycles to jointly develop electric motorcycles, as it seeks to expand presence in the green…
Hawkish Fed may prompt India’s RBI to deliver a 50-basis-point hike
By Swati Bhat MUMBAI (Reuters) – Interest rate hikes in the United States and the resultant pressure on the rupee is likely to give the Reserve Bank of India (RBI) reason to…
India’s RBI likely sells dollars as surging U.S. yields hold rupee hostage – traders
MUMBAI (Reuters) – The Indian central bank likely sold dollars via state-run banks on Wednesday as rising Treasury yields and mounting risk aversion pushed the rupee to a record low, traders said.…
India’s BigBasket looks to raise $200 million at up to $3.5 billion valuation- ET
BENGALURU (Reuters) – India’s Tata Group-backed BigBasket has initiated a fresh round of funding that could value the online grocery startup at around $3.5 bln, The Economic Times newspaper reported on Tuesday,…
India’s air safety watchdog extends restriction on SpiceJet
BENGALURU (Reuters) – India’s air safety watchdog on Wednesday said it was extending a restriction on Indian budget carrier SpiceJet Ltd’s flight departures until Oct. 29. The airline will be allowed to…
India’s RBI announces 500 billion rupee overnight repo
The Reserve Bank of India will conduct an overnight variable rate repo auction for 500 billion Indian rupees ($6.25 billion) on Thursday, the central bank said. “On a review of current liquidity…
Canadian pension fund OTPP to buy 30% stake in India’s Mahindra renewables assets
MUMBAI (Reuters) – Canadian pension fund Ontario Teachers’ Pension Plan has agreed to buy a 30% stake for 23.71 billion rupees ($297.5 million) in Indian automaker Mahindra’s renewable power assets, an exchange…
India’s RBI says front-loaded rate hikes needed to tame inflation, shield growth
By Swati Bhat MUMBAI (Reuters) – The Reserve Bank of India said on Friday it will have to front-load its monetary policy to fight stubborn inflation and shield medium-term growth in the…
India’s Modi assails Putin over Ukraine war
By Mukhammadsharif Mamatkulov SAMARKAND, Uzbekistan (Reuters) – Indian Prime Minister Narendra Modi told Russian President Vladimir Putin on Friday that now was not the time for war, directly assailing the Kremlin chief…
India’s current account deficit likely jumped to a near-decade high – Reuters poll
By Arsh Tushar Mogre BENGALURU (Reuters) – India’s current account deficit likely widened to its highest in nearly a decade in the April-June quarter, driven by soaring global commodity prices and the…
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