Reuters India Business

NEW DELHI (Reuters) – India’s gross domestic product (GDP) is on track to grow by 8% or more in the quarter ending March 31, Finance Minister Nirmala Sitharaman said on Saturday. The economy is expected to show the same rate of year-on-year expansion for the 2023/24 financial year, Sitharaman added, citing the impact of improved …

India’s GDP set to grow 8% or more in Jan-March quarter, finance minister says Read More »

BENGALURU (Reuters) – India’s Zee Entertainment on Friday said it has reduced the workforce at its Technology & Innovation Centre in Bengaluru by about half, following recommendations by a company-formed review panel to cut costs. The decision was made by the managing director and chief executive officer Punit Goenka, the company said. The committee, comprising …

India’s Zee cuts staff by about half at Bengaluru’s Technology & Innovation Centre Read More »

BENGALURU (Reuters) – India’s foreign exchange reserves rose for a fifth straight week to hit a record high of $642.63 billion as of March 22, data from the central bank showed on Friday. The reserves jumped by $139 million in the reporting week. Changes in foreign currency assets, expressed in dollar terms, include the effect …

India’s forex reserves jump to record high Read More »

MUMBAI (Reuters) – India has asked traders, major retailers and food processors to declare wheat stocks every Friday from April to prevent hoarding and price spikes, the government said on Friday. The world’s second-biggest wheat consumer after China has been trying to contain wheat prices after heat waves curtailed production for two straight years, forcing …

India mandates weekly reporting on wheat stocks to prevent hoarding Read More »

By Shivangi Acharya NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi is likely to prioritise completion of free trade deals with Britain and Oman in the first 100 days of the next government if he wins upcoming elections as opinion polls predict, two government sources said. Modi has asked Indian ministries to set annual …

India keen on trade deals with Britain, Oman early in Modi’s probable third term, sources say Read More »

BENGALURU (Reuters) – India’s Adani Energy Solutions is looking to borrow as much as $600 million to fund smart meter projects for electricity supply, Bloomberg News reported on Thursday citing people familiar with the matter. The Indian power distribution company is in talks with a group of global lenders, with the foreign currency loan’s tenor …

Adani Energy mulls borrowing up to $600 million from banks, Bloomberg News reports Read More »

By M. Sriram MUMBAI (Reuters) – Indian food delivery giant Swiggy recorded a $200 million loss for the nine months to December 2023, according to an internal document of the company, which is looking to list on the stock market. The SoftBank-backed company could list by the end of this year, sources previously told Reuters. …

India’s Swiggy records $200 million loss, document shows, as it plans IPO Read More »