NEW DELHI (Reuters) – India’s unemployment rate rose to 7.83% in April from 7.60% in March, data from the Centre for Monitoring Indian Economy (CMIE) showed on Sunday. The urban unemployment rate rose to 9.22% in April from 8.28% the previous month, while the rural unemployment rate slipped to 7.18% from 7.29%, the data showed. …
India’s jobless rate rises to 7.83% in April – CMIE Read More »
By Sethuraman N R BENGALURU (Reuters) – Indian IT services provider Wipro said on Friday it expects pressure on margins to continue over the next two to three quarters due to higher employee-related costs as attrition spikes and travel opens up. “We are seeing slightly lower margins than the range we have seen in the …
India’s Wipro sees margin pressure over next few quarters as attrition spikes Read More »
By Aditi Shah PUNE, India (Reuters) – To make its first electric vehicle for the consumer market, India’s Tata Motors Ltd repurposed an unused shop floor at its flagship plant. Here, there’s no fancy assembly line – Nexon SUV bodies designed for gasoline models are wired and fitted with battery packs by hand. The area, …
Tata, India’s electric vehicle king, takes a frugal road less travelled Read More »
By Munsif Vengattil BENGALURU (Reuters) – International semiconductor consortium ISMC will invest $3 billion in India’s southern Karnataka state to set up a chip-making plant, the state government said on Sunday. ISMC is a joint venture between Abu Dhabi-based Next Orbit Ventures and Israel’s Tower Semiconductor. U.S. chip giant Intel Corp has announced plans to …
Chip consortium ISMC to set up $3 billion plant in India’s Karnataka Read More »
By Chandini Monnappa BENGALURU (Reuters) -Indian shares closed over 1% lower on Friday to log losses for a second straight week, with declines seen across the board, as global sentiment soured after the U.S. Federal Reserve hinted at an increasingly aggressive rate hike. The NSE Nifty 50 index was down 1.27% at 17,171.95 at close, …
Indian shares post second weekly loss on Fed rate prospects Read More »
NEW DELHI (Reuters) – Britain and India signed a new defence cooperation agreement on Friday and will look to complete a free trade deal by the end of the year, their leaders said after a meeting in New Delhi. UK Prime Minister Boris Johnson said Britain will also help India build its own fighter jets. …
Britain, India agree to expand defence, trade ties Read More »
By Aftab Ahmed NEW DELHI (Reuters) -New Delhi is halving its fundraising goal for Life Insurance Corporation of India’s IPO to 300 billion rupees ($3.9 billion), having had to cut its valuation estimates after feedback from investors, a government source said. The drastic lowering of ambitions for the IPO – which would still be India’s …
India slashes LIC’s IPO fundraising goal in half to $3.9 billion -source Read More »
By Neha Arora and Chris Thomas NEW DELHI (Reuters) – India’s federal financial crime fighting agency raided offices of Jindal Steel & Power Ltd (JSPL) in New Delhi on Thursday over a suspected violation of foreign exchange regulations, a source familiar with the matter said. The federal Enforcement Directorate (ED) also conducted searches in Gurgaon, …
India’s financial crime watchdog raids JSPL offices – source Read More »
By Andrew MacAskill AHMEDABAD, India (Reuters) – British Prime Minister Boris Johnson indicated he was ready to offer more visas to India in return for this year clinching a free-trade deal that could boost annual bilateral trade by billions of pounds. Speaking on the plane on his way to the world’s second-most populous country, Johnson …
British PM Johnson signals visa flexibility with India to win trade deal Read More »
By Andrew MacAskill AHMEDABAD, India (Reuters) – British Prime Minister Boris Johnson indicated he was ready to offer more visas to India in return for this year clinching a free-trade deal that could boost annual bilateral trade by billions of pounds. Speaking on the plane on his way to the world’s second-most populous country, Johnson …
British PM Johnson signals visa flexibility with India to win trade deal Read More »
