Reuters India Business

By Dharamraj Dhutia and Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee may remain pressured this week by a broadly stronger U.S. dollar after the Federal Reserve forecast fewer rate cuts next year, while government bond yields will track moves in Treasuries. The rupee hit a record low of 85.10 against the dollar on Friday …

India rupee seen under pressure, bonds to track US peers Read More »

By Nikunj Ohri NEW DELHI (Reuters) – An Indian government panel has rejected an airline industry proposal for aviation fuel to be brought under the unified Goods and Services Tax (GST), the finance minister said after a meeting of the panel on Saturday. Currently, state governments choose how to tax aviation turbine fuel (ATF). Airlines …

India’s tax panel rejects airlines’ call to add aviation fuel to GST regime Read More »

(Reuters) – Indian miner Vedanta will not carve out a separate listed unit for its base metals business, it said on Friday, after discussing the matter with its stakeholders and lenders. Vedanta, led by billionaire Anil Agarwal, had last year launched a sweeping overhaul to carve itself up into six separate businesses, in a move …

India’s Vedanta to exclude base metals business from sweeping demerger Read More »

MUMBAI (Reuters) – India has launched an investigation to consider if it should impose a safeguard duty or a temporary tax to curtail unbridled steel imports, according to a government notice on Friday. The probe comes after Indian Steel Association, which represents top steelmakers such as ArcelorMittal Nippon Steel India Ltd, JSW Steel Ltd, Jindal …

India launches probe to determine ‘safeguard duty’ on steel as imports surge Read More »

(Reuters) – S&P Global Ratings upgraded Vedanta Resources to “B” from “B-” after the parent company of Indian miner Vedanta Ltd secured minimum support needed for a debt restructuring plan. The move reduces the risk of refinancing some of its bonds and suggests an improvement in the company’s capital structure. The plan, approved earlier this …

S&P upgrades Vedanta Resources after debt restructuring plan Read More »

By Swati Bhat MUMBAI (Reuters) – High prices are the cause for demand slowdown in India, and aligning inflation to the central bank’s 4% target is key to ensuring sustained economic growth, members of the rate-setting panel said in the minutes of the December meeting. “The policy priority at this critical juncture has to be …

High prices impinging on India’s growth, central bank minutes show Read More »

(Reuters) – India’s foreign exchange reserves fell by nearly $2 billion to an almost six-month low of $652.87 billion as of Dec. 13, data from the Reserve Bank of India (RBI) showed on Friday. The reserves had declined by $3.2 billion in the week of Dec. 6, and have declined by $52 billion from the …

India’s forex reserves dip to nearly six-month low Read More »