Reuters India Business

By Rajendra Jadhav and Sherin Elizabeth Varghese BENGALURU (Reuters) – Gold demand in India during the upcoming festive season is likely to remain robust, as the substantial reduction in import duty has made prices appealing, providing comfort to retail consumers and encouraging purchases, industry officials said. Higher demand in the world’s second-largest gold consumer could …

India’s gold duty cut likely to spark buying spree during festivals Read More »

By Devayani Sathyan BENGALURU (Reuters) – India’s economic growth likely moderated and grew at its slowest pace in a year in the April-June quarter due to lower government spending amid a national election that concluded in June, a Reuters poll found. Growth in Asia’s third-largest economy had been well above 7% during previous quarters thanks …

India’s growth likely slowed to 6.9% last quarter as government spending lagged: Reuters poll Read More »

BENGALURU (Reuters) – Peru’s gold exports to India are set to jump 36% from a year ago to a record $3 billion in 2024, driven by rising demand from the world’s second-biggest consumer, a senior government official said on Friday. India’s gold imports from Peru in the first half of 2024 rose 81% from a …

Peru’s gold exports to India set to hit record high, says official Read More »

BENGALURU (Reuters) – U.S. boutique investment firm GQG Partners Inc was the largest buyer in a stake sale of India’s Ambuja Cements by an Adani-owned company on Friday. Adani-owned Holderind Investments, which had a nearly 51% stake in Ambuja Cements as of June-end, had offered a 2.8% stake worth $500 million. WHY IT’S IMPORTANT GQG …

GQG Partners biggest buyer of Ambuja shares in Adani-owned co’s stake sale Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee rose in early trade on Friday, boosted by gains in most of its Asian peers ahead of closely watched remarks from Federal Reserve Chair Jerome Powell later in the day. The rupee was at 83.8850 against the U.S. dollar as of 10:10 a.m. IST, higher than …

Rupee lifted by gains in Asian peers, oil firms’ bids cap upside Read More »

By Nikunj Ohri NEW DELHI (Reuters) – India is likely to retract its demand that Infosys pay $4 billion in back taxes after weeks of lobbying by the IT giant and an onslaught of criticism from the software services industry, said two government sources with direct knowledge of the plan. Authorities last month ordered Infosys …

India likely to withdraw Infosys $4 billion tax demand after backlash, sources say Read More »

NEW DELHI (Reuters) – India’s aviation ministry may soon call an industry meeting over concerns about rising airfares, broadcaster ET Now reported on Friday citing sources. The government is also not in favour of capping fares at the moment, the report said. (Reporting by Shivam Patel in New Delhi; Editing by YP Rajesh)