Reuters India Business

(Corrects dateline and fixes typo in second paragraph) By Dharamraj Dhutia MUMBAI (Reuters) – Indian state-run banks that sold government bonds in the last few sessions may not immediately turn buyers, as their focus shifts to cutting down investment under the Statutory Liquidity Ratio (SLR) to fund credit growth, analysts said. State-run banks sold bonds …

Indian state-run banks to pass up bonds to focus on lending -analysts Read More »

BENGALURU (Reuters) -Indian shares recovered from a muted start on Thursday, on hopes of policy continuity after early election trends indicated the ruling Bhartiya Janata Party (BJP) would retain power in the key state of Gujarat. The Nifty 50 index rose 0.23% at 18,602.55, as of 10:45 a.m IST, and the S&P BSE Sensex gained …

Indian shares inch up as state elections eyed Read More »

MUMBAI (Reuters) – India needs to allow duty-free imports of cotton as higher raw material prices have reduced textile mills’ capacity use, a leading trade body told the government on Wednesday. Cotton imports into India, the world’s biggest producer of the fibre, attract 11% duty, which makes the imports financially unviable, the Cotton Association of …

Indian trade body seeks duty-free imports of cotton Read More »

NEW DELHI (Reuters) – India has included iron and steel, chemicals, pharmaceuticals in an export incentive scheme, according to a government statement on Wednesday. Reuters reported last month that India’s trade ministry was seeking to extend the scheme to reimburse some local levies for domestic steel producers. Changes to the scheme would come into effect …

India expands export incentive scheme to include chemicals, iron and steel Read More »

By Sarita Chaganti Singh and Sudarshan Varadhan NEW DELHI (Reuters) – India has asked state-run firms to increase imports of natural gas in anticipation of higher power demand next summer, three government sources said, aiming to avoid repeating a power crisis in April that was its worst in more than six years. While the share …

India to step up gas imports to address summer power demand Read More »