Reuters India Business

U.S. trade delegation likely to visit India next week for talks, government source says

NEW DELHI, Dec 4 (Reuters) – A U.S. trade delegation is expected to visit New Delhi next week for talks, an Indian government source said on Thursday, as Prime Minister Narendra Modi’s government hopes for a reduction in punitive tariffs imposed on its goods by President Donald Trump. (Reporting by Manoj Kumar in New Delhi, …

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Why shouldn’t India have same privilege as US to buy Russian fuel, Putin tells India Today TV

NEW DELHI, Dec 4 (Reuters) – Russian President Vladimir Putin told broadcaster India Today that if the United States has the right to buy Russian fuel, “why shouldn’t India have the same privilege”.  Putin’s comments were part of an interview with the broadcaster that was due to be aired hours after he landed in New …

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IndiGo’s operations to be restored by February 10, seeks some relief from pilot rules, India says

NEW DELHI, Dec 4 (Reuters) – IndiGo has told India’s aviation regulator that its operations will be fully restored by February 10, and has asked for relief from some provisions that limit pilot duty after it cancelled hundreds of flights this week due to a shortage of aviators. IndiGo has acknowledged that the disruptions have …

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Indian fertiliser firms to sign deal with Uralchem to set up Russian plant, sources say

By Manoj Kumar and Nidhi Verma NEW DELHI, Dec 4 (Reuters) – Indian firms are expected to sign a deal with Uralchem group, Russia’s top potash and ammonium nitrate producer, during President Vladimir Putin’s New Delhi visit on Friday, to jointly set up a urea plant in Russia, three sources said. The project, aimed at …

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Cayman Islands seeks info-exchange pacts with India regulators to boost transparency

By Gopika Gopakumar Dec 4 (Reuters) – The Cayman Islands is looking to sign pacts with India’s market regulator and finance hub GIFT City, to ensure transparent exchange of information, a government official of the British Overseas Territory said on Thursday. André M. Ebanks, the territory’s premier, told journalists that the submitted proposals include legal …

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British American Tobacco plans to offload stake in India’s ITC Hotels

Dec 4 (Reuters) – British American Tobacco plans to offload its stake worth about $776 million in India’s ITC Hotels, the company said on Thursday, as it looks to reduce debt and exit a non-strategic asset. The maker of Lucky Strike and Dunhill cigarettes said it intends to sell between 7% and its entire 15.3% stake …

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Indian VC firm Nexus closes $700 million fund to back AI and consumer startups

Dec 4 (Reuters) – India’s Nexus Venture Partners announced on Wednesday that it closed a $700 million fund that will back AI, enterprise software, consumer and fintech startups. The venture capital firm has previously made investments in the likes of logistics provider Delhivery and mortgage lender India Shelter Finance, as well as consumer startups like …

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Novo Nordisk gears up for December Ozempic launch in India, sources say

By Rishika Sadam HYDERABAD, India, Dec 3 (Reuters) – Danish drugmaker Novo Nordisk will launch its blockbuster diabetes drug Ozempic in India this month, three sources familiar with the matter said, as it seeks to strengthen its foothold in the world’s most populous nation. India has the second-highest number of people with type 2 diabetes …

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India backs states’ clean energy projects as federal agencies struggle with unsold power

By Sethuraman N R NEW DELHI, Dec 4 (Reuters) – India’s federal government cannot stop states from building clean energy projects even as federal agencies struggle with nearly 50 gigawatts (GW) of unsold renewable power, a top official said on Thursday. Federal clean energy projects have remained unsold due to unfinished transmission lines, legal and …

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India’s stock benchmarks snap losing run ahead of RBI rate decision

By Bharath Rajeswaran and Vivek Kumar M Dec 4 (Reuters) – India’s equity benchmarks inched higher on Thursday, snapping a four-session losing streak, led by information technology stocks as the rupee weakened ahead of the central bank’s rate decision. The Nifty rose 0.18% to 26,033.75, and the Sensex added 0.19% to 85,265.32. Both Nifty and …

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