Indian
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 surpasses China to become Russia’s top oil buyer
India overtook China as the world’s biggest importer of Russian oil in July as Chinese refiners bought less because of lower profit margins from producing fuels, a comparison of import data showed.
India calls for trade deal among Bimstec nations
India yesterday urged members of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (Bimstec) to consider forming a preferential trade agreement among themselves to foster intra-regional trade and investment while also enhancing regional competitiveness.
Marico’s profit jumps 30% in April-June quarter
Marico Bangladesh Ltd, a listed multinational company, said its profit soared 30 percent year on year to Tk 172.57 crore in the April-June quarter.
India wants to be China’s gateway to the West
India is warming up to its northern neighbour. The South Asian country’s annual economic report recommends courting investment from China rather than integrating into the country’s supply chains. That lays out a way for companies from Shein to BYD to keep selling in Western markets despite rising suspicion towards the People’s Republic. Much depends on how the Sino-American trade war plays out.
Indian consumer goods makers’ sales growth picks up
Indian consumer goods companies Marico, Dabur and Adani Wilmar reported a pick up in first-quarter revenue growth as demand improved gradually, with consumers spending more on personal care and cooking products.
India targets 27% higher onion production
The target area under kharif onion this year is 3.61 lakh hectares which is 27 percent higher than last year, the Ministry of Food said on Friday.
Indians battle intense heat with ‘mad rush’ for ACs, beer
Demand for beer in India is at a multi-year high and air conditioner sales are skyrocketing as the intense, unprecedented heat scorching parts of the country becomes a boon for some consumer businesses.
India’s oil imports from Russia at record high
India’s oil imports from Russia rose to a record of about 2.1 million barrels per day (bpd) in May as discounts for Russian oil widened on lower demand from China, according to trade sources and shipping data.
India economic inequality to persist despite roaring GDP growth
The Indian economy is likely to remain the fastest-growing major one in coming years, but a majority of independent economists and policy experts polled by Reuters are not confident it will make any difference in narrowing stark economic inequality.
India to remain fastest-growing economy in Asia-Pacific: Moody’s
Credit rating agency Moody’s said India is expected to remain the fastest-growing economy in the Asia-Pacific region in the second half of the year 2024.
Indian troops begin Maldives pullout after quit order
India has begun withdrawing military personnel operating surveillance aircraft in the Maldives after the new pro-China president ordered them to leave, local media reported Tuesday