Indian
TotalEnergies pauses funding for Adani Group after bribery charges
French oil major TotalEnergies halted on Monday investments into Adani Group, after the Indian ports-to-power conglomerate was engulfed in a crisis over an alleged multi-million-dollar bribery scheme.
Tata seals deal for iPhone plant in Tamil Nadu
India’s Tata Electronics has agreed to buy a majority stake in Taiwanese contract manufacturer Pegatron’s only iPhone plant in India, forming a new joint venture that strengthens Tata’s position as an Apple supplier, two sources told Reuters.
India’s forex reserves fall for sixth week
India’s foreign exchange reserves dropped for a sixth consecutive week to a near 3-month low of $675.65 billion as of Nov. 8, data from the Reserve Bank of India (RBI) showed on Friday.
India eyes record rice production in 2024-25 monsoon
India, the world’s biggest rice exporter, is likely to produce a record 119.93 million tonnes of the staple crop in 2024-25 “kharif” season on the back of a good monsoon, the country’s agriculture ministry said yesterday.
India draws roadmap for textile revamp
India has drawn up a roadmap for generating 4.5-6 crore jobs in the textile sector by 2030 to make its market size grow to $350 billion from around $165 billion at present, India’s Textiles Minister Giriraj Singh said.
India’s edible oil demand to rise
India’s edible oil consumption is set to grow at a pace of 2 percent-3 percent as cooking oils remain affordable despite an import duty hike, a leading importer told Reuters on Wednesday.
India’s exports to Bangladesh fell 28% in August
India’s exports to Bangladesh dropped by 28 percent year-on-year to $681 million in August, according to a report by The Indian Express.
India growth slows to 6.7% on lower consumer spending
India’s economic growth slowed to 6.7 percent on-year in the April-June quarter, official data showed Friday, as lower government outlays and lacklustre consumer spending weighed on the world’s fifth-largest economy.
Indian economy sustaining recent growth momentum
India’s economy has sustained the growth momentum seen in the last fiscal quarter of 2022/23, while latest inflation outcome has been better than forecast, the Reserve Bank of India said on Monday.
India’s palm oil imports set to fall to 27-month low
India’s palm oil imports in May are set to fall to their lowest in 27 months as its rare premium other edible oils prompted buyers to cancel cargoes and replace them with soyoil and sunflower oil, dealers and cargo surveyors said on Tuesday.
India’s note withdrawal to improve liquidity
The Indian central bank’s decision to withdraw its highest denomination currency note from circulation is likely to improve banking system liquidity, bringing down recently elevated short-term rates, analysts and bankers said.
Russia sanctions loom over India’s diamond hub
The prospect of fresh G7 sanctions on Russia’s diamond trade weighs heavy on India’s diamond hub of Surat, already reeling from supply cuts and falling demand.
What Indian move to scrap Rs 2000 note means for its economy
India will withdraw its highest denomination currency note from circulation, the central bank said on Friday. The 2000-rupee note, introduced into circulation in 2016, will remain legal tender but citizens have been asked to deposit or exchange these notes by September 30, 2023.
Meghalaya keen to deepen trade ties with Bangladesh
The state government of Meghalaya of India is keen to deepen economic and trade ties with Bangladesh, said Meghalaya Chief Minister Conrad Sangma, highlighting the possibility of direct import of garments, plastic products, electronic products, processed food and frozen food.
Indian rupee hits six-week low
The Indian rupee hit a more-than-six-week low against the US dollar on Wednesday, in line with the decline in other Asian currencies that tracked the fall in the Chinese yuan after weak economic data.
India cuts windfall tax on crude
India has cut windfall tax on petroleum crude to zero from 4,100 rupees ($50.13) per tonne, effective May 16, according to a government notification.
India, Canada aim to seal trade pact this year
India and Canada aim to seal an initial agreement this year to increase their trade and expand investment while setting out a mechanism to deal with disputes, they said in a statement on Wednesday.
Rupee hits over two-week low
The Indian rupee fell to a more than two-week low on Tuesday on the back of dollar purchases by importers and short covering by traders, with a rise in US yields also adding to the pressure.