Reuters India Business

MUMBAI (Reuters) -The Indian government’s domestic tax reductions and the Reserve Bank of India’s interest rate cuts this year will help boost private investment and economic growth, the central bank said in its monthly bulletin on Monday. In October, the Indian economy exhibited signs of pickup in growth momentum despite persisting global headwinds, the central …

India’s fiscal, monetary measures to boost investment and growth, RBI report says Read More »

MUMBAI (Reuters) -The Indian central bank sold a net of $7.91 billion in the foreign exchange market in September, data released on Monday showed, as the Reserve Bank of India stepped up efforts to curb a slide in the currency. The RBI said it purchased $ 2.2 billion and sold $10.11 billion, as it stepped …

India cenbank net sold $7.9 billion in September to halt rupee’s slide, bulletin shows Read More »

(Reuters) -The Securities and Exchange Board of India has approved Fractal Analytics’ draft initial public offering papers, paving the way for the country’s first IPO by an AI-focused company, according to a notification on the market regulator’s website on Monday. Fractal Analytics’ 49 billion rupees (about $563 million) IPO comprises a fresh issue of up …

India’s Fractal Analytics gets SEBI nod for country’s first AI-focused IPO Read More »

NEW DELHI (Reuters) -India’s Bharat Electronics Limited and France’s Safran Electronics and Defence have signed an agreement to produce HAMMER smart precision-guided air-to-ground weapons in India, the country’s defence ministry said on Monday. “The agreement formalises establishment of a Joint Venture private limited company with 50:50 shareholding,” the ministry said in a statement. (Reporting by …

India’s BEL, France’s Safran to produce air-to-ground weapons in India Read More »

By Swati Bhat and Jaspreet Kalra MUMBAI (Reuters) -Reserve Bank of India Governor Sanjay Malhotra said in an interview with Zee Business on Monday that there is scope to further reduce policy interest rates. “At the last MPC (monetary policy committee) meeting in October, it was communicated clearly there is room to cut policy rates,” …

RBI chief says room for more interest rate cuts in India, timing up to panel Read More »

By Rajendra Jadhav MUMBAI (Reuters) -Indian sugar mills are struggling to secure export deals as global prices remain below domestic rates, discouraging new contracts and making it unlikely they will ship the entire 1.5-million-metric-ton export quota, trade officials told Reuters. A smaller export volume from India, the world’s second-largest sugar producer, could help support global …

India’s sugar export quota at risk as mills avoid low-priced global market Read More »

By Vibhuti Sharma MUMBAI (Reuters) -Singapore’s Temasek-backed Sembcorp Industries has started talks over an initial public offering of its India unit in Mumbai and appointed three investment banks, including Citi and HSBC, three sources familiar with the matter said. Talks are at an early stage and no decision has been made on the size of …

Singaporean energy firm Sembcorp plans IPO of Indian unit, sources say Read More »

By Sethuraman N R NEW DELHI (Reuters) -India’s solar module exports fell sharply in September to their lowest this year after U.S. trade measures curbed shipments, forcing manufacturers to redirect supplies to the domestic market, industry officials and analysts said. India’s exports to the United States had surged earlier this year as developers sought alternatives …

India’s solar panel exports slump in September as US tariffs bite Read More »