Reuters India Business

By Nikunj Ohri and Aditi Shah NEW DELHI (Reuters) -An Indian tax panel has proposed steep increases in consumer levies on luxury electric cars priced above $46,000, a government document showed, a move that could impact sales of carmakers such as Tesla, Mercedes-Benz, BMW and BYD. Prime Minister Narendra Modi is aiming to reform India’s …

India tax panel calls for steep levies on luxury EVs in blow for Tesla, BMW Read More »

By Arpan Chaturvedi NEW DELHI (Reuters) -Groups backing millions of small Indian retailers have urged the government to shun Amazon’s request to ease strict foreign investment rules for exports, a letter shows, as opposition to a contentious policy change grows. India currently prohibits companies like Amazon and Walmart from stocking and selling goods directly to …

Retailer and farmer groups ask India to shun Amazon’s plea to ease investment rules Read More »

MUMBAI (Reuters) – The Indian rupee ended marginally higher on Tuesday, but came off the day’s high, as importer demand for the greenback wiped out recovery witnessed earlier in the session. The currency ended at 88.1550, marginally up 0.05% from Monday’s close of 88.1950. It hit an intraday high of 87.8450 before declining past the …

Rupee off day’s high as importer dollar demand wipes out most gains Read More »

BENGALURU (Reuters) -India’s largest IT firm Tata Consultancy Services has bagged a 550 million euro ($643.89 million) order from Scandinavian insurance firm Tryg, the company said on Tuesday, announcing its first mega deal this fiscal year. Mega deals, which are typically worth more than $500 million, are key revenue drivers for IT services companies. TCS, …

India’s TCS bags $644 million deal from Scandinavian insurer Tryg Read More »

By Bharath Rajeswaran and Shubham Batra (Reuters) -India’s equity benchmarks reversed early gains to end lower on Tuesday, as an expiry-driven pullback in heavyweight financials offset a broad-based rally, while investors awaited a key Goods and Services Tax (GST) Council meeting later this week. The NSE Nifty 50 fell 0.18% to 24,579.60 and the BSE …

India stock benchmarks reverse gains as financials weigh Read More »