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.
India, Russia in talks on free trade deal
India and Russia are discussing a free trade agreement, ministers said on Monday, a move that would further deepen bilateral commercial ties that have flourished since war broke out in Ukraine.
India’s forex reserves at nine-month high
India’s foreign exchange reserves jumped to $584.76 billion for the week ended April 7, the highest in nine months, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday.
Rupee edges up as dollar softens
The Indian rupee made slim gains against the US dollar on Wednesday, as the greenback slipped ahead of a crucial US inflation report that could influence the Federal Reserve’s next policy move.
IMF trims India’s growth forecast
The International Monetary Fund (IMF) said on Tuesday that it expects India’s economy to grow 5.9 per cent in the current fiscal year though it warned that turmoil in the financial system will hurt global growth.
Indian sugar prices climb
Sugar prices in India have climbed more than 6% in two weeks and are likely to rise further as production is set to fall and demand from bulk consumers to strengthen during the peak summer season, industry officials told Reuters.
India’s services growth loses some steam in March
Growth in India’s dominant services industry eased last month from February’s 12-year high due to a softer expansion in demand, according to a private survey, which also showed input cost inflation falling to its lowest since September 2020.
India’s power output surges
India’s power generation grew at the fastest pace in over three decades in the just-ended fiscal year, a Reuters analysis of government data showed, fuelling a sharp surge in emissions as output from both coal-fired and renewable plants hit records.
India cuts windfall tax on crude oil to zero
India cut its windfall tax on crude oil to zero from 3,500 rupees ($42.56) a tonne and halved the tax on diesel to 0.5 rupee per litre, a government notification said on Tuesday.
WB lowers India’s current fiscal year growth forecast
The World Bank on Tuesday lowered its forecast for India’s economic growth in the current fiscal year that started on April 1 to 6.3 per cent from 6.6 per cent as it expects higher borrowing costs to hurt consumption.
India factory activity hits 3-month high
India’s manufacturing sector expanded at its quickest pace in three months in March on improved output and new orders, although firms shed jobs for the first time in over a year, a private business survey showed on Monday.