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.
Rupee logs worst week in seven
The Indian rupee ended at an over one-month low against the US dollar on Friday, and logged its worst week in seven on worries that the Federal Reserve will raise interest rates more than expected this year.
Global rice prices may rally further
Global rice prices, now at their highest in 11 years, are set to rally further after India moved to boost payments to farmers, just as El Nino threatens yields in key producers and alternative staples get costlier for poor Asians and Africans.
India aims to make domestic microchips
India will break ground next month on its first semiconductor assembly plant and begin producing its first domestically manufactured microchips by the end of 2024, the Financial Times reported on Wednesday.
Rupee hits near 2-month high
The Indian rupee climbed to a near two-month high versus the US currency on Monday on the back of dollar offers by foreign banks, traders said.
Indian refiners start paying in yuan for Russian oil
Indian refiners have begun paying for some oil imports from Russia in Chinese yuan, sources with direct knowledge of the matter said, as Western sanctions force Moscow and its customers to find alternatives to the dollar for settling payments.
India’s GST receipts rise 12% in June
India’s goods and services tax (GST) collections rose nearly 12 per cent year-on-year to 1.61 trillion rupees ($19.61 billion) in June, a government statement showed on Saturday.
Modi eyes stronger tech ties with US as he meets top CEOs
Indian Prime Minister Narendra Modi met with U.S. and Indian technology executives in Washington on Friday, the final day of a state visit where he agreed new defense and technology cooperation and addressed challenges posed by China.
India’s wheat output 10% lower than govt estimates
India’s wheat harvest in 2023 is at least 10 percent lower than the government’s estimate, a leading trade body told Reuters on Wednesday, amid a sharp rise in local prices during the past two months.
India’s import jump signals stable economy
A sequential increase in merchandise imports in May that led to the trade deficit widening to a five-month high signalled a stable local economy, economists said.
India weighs barter trade with Egypt
India is weighing a proposal to begin barter trade in goods like fertiliser and gas with Egypt as part of a wider deal that could see New Delhi extending a credit line worth several billion dollars to Cairo, sources told Reuters.