Reuters India Business

India tax body clarifies Sports Utility Vehicles definition, defers tax on online gaming

17 Dec 2022

By Nikunj Ohri , New Delhi (Reuters) – India’s Goods and Services Tax (GST) Council on Saturday decided to have a single definition across all states in the country for sports utility vehicles, attracting a higher tax rate. Currently cars with engine capacity exceeding 1500 cc, length exceeding 4000 mm and having ground clearance of …

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India’s Edelweiss acquires L&T-CPPIB infrastructure project for $725 million

17 Dec 2022

MUMBAI (Reuters) – Canadian pension fund CPP Investments Board and construction firm Larsen and Toubro said they have sold the entire stake in their joint venture to Indian investment firm Edelweiss for 60 billion Indian rupees ($725.46 million) The joint venture called L&T Infrastructure Development Projects Limited owned eight roads and one power transmission asset …

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India’s Mirae Asset Mutual Fund aims to launch precious ETF by Q1 next year

17 Dec 2022

By Sethuraman N R BENGALURU (Reuters) – India’s Mirae Asset Mutual Fund aims to launch its first precious commodities-linked exchange traded fund (ETF) by the end of first quarter of 2023, the company’s head of passive investment products said on Friday. Mirae Asset Investment Managers India has applied to the Indian markets regulator, the Securities …

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U.S. dollar gains as risk tolerance drops with hawkish central banks

17 Dec 2022

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar rose on Friday in choppy trading, extending sharp gains in the previous session as risk appetite soured and investors grappled with the prospect that borrowing costs still have a long way to climb. The greenback briefly fell after data showed U.S. business activity shrank further in …

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India sees no hit to fuel exports from EU Feb 5 action on Russian imports -oil secretary

16 Dec 2022

By Nidhi Verma NEW DELHI (Reuters) – India, a leading buyer of Russian oil, does not expect its fuel exports to be disrupted by a European Union ban on the purchase of Russian refined fuels beginning Feb. 5, oil secretary Pankaj Jain said on Friday. Indian refiners have been gorging on Russian oil sold at …

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India to remain top buyer of Russia’s Urals crude in Dec -sources, data

16 Dec 2022

MOSCOW (Reuters) – India is taking most of Russia’s Urals crude oil loading in December as it remains top buyer for a second month in a row, according to traders and Refinitiv data. Volumes and India’s share of the exports are expected to rise month on month despite a shorter loading plan for Russia’s Western …

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India preparing to launch 20% ethanol with gasoline – oil minister

16 Dec 2022

NEW DELHI (Reuters) – India is preparing to launch sales of 20% ethanol with gasoline and will look to gradually raise its share of the cleaner fuel in its energy mix, the country’s oil minister Hardeep Singh Puri said on Friday. India currently mixes 10% ethanol with gasoline, but the world’s third-biggest oil importer and …

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