NEW DELHI (Reuters) – Indian Foreign Minister Subrahmanyam Jaishankar said on Monday he had spoken to U.S. Secretary of State Marco Rubio about the early conclusion of a bilateral trade deal, adding that they had agreed on its importance. Jaishankar spoke in a post on X. (Reporting by Sakshi Dayal; editing by Mark Heinrich)
By Bharath Rajeswaran and Shubham Batra (Reuters) -India’s stock benchmarks clocked their worst session in 10 months on Monday as a selloff fueled by U.S. tariffs intensified and investors dumped riskier assets on growing fears of a global recession. The Nifty 50 lost 3.24% to 22,161.1 and the BSE Sensex fell 2.95% to 73,137.9. Both …
US tariffs trigger worst selloff in Indian markets in 10 months Read More »
By Nidhi Verma NEW DELHI (Reuters) -India on Monday raised excise duty on petrol and diesel without passing on higher costs to consumers, oil minister Hardeep Singh Puri said, a move that would boost the government’s tax collection amid falling global oil prices. The hike in excise tax would be absorbed by state-controlled fuel retailers …
India not to raise petrol, diesel retail prices despite tax hike Read More »
NEW DELHI (Reuters) – India on Monday increased the special additional excise duty on petrol and diesel by 2 rupees per litre, according to a government notice, following a sharp fall in global oil prices. (This story has been corrected to change ‘export tax’ to ‘special additional excise duty’ in the headline and the story) …
India raises special additional excise duty on petrol and diesel, says government notice Read More »
By Dharamraj Dhutia MUMBAI (Reuters) – India’s overnight indexed swap (OIS) rates have fallen in the last three sessions, signaling that besides just a quarter-point rate cut this week, the central bank could also change its stance or opt for a bigger reduction. OIS rates, the closest gauge of interest rate expectations, have dropped by …
India swap markets signal RBI could do more than just a 25-bp rate cut this week Read More »
By Dharamraj Dhutia MUMBAI (Reuters) – Indian companies are set to borrow $4.5 billion by selling bonds in the first five trading sessions of April to take advantage of the plunge in yields, a rare move as they typically do not need major funds at the start of a new financial year. The sales include …
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee logged its steepest one-day decline in nearly three months on Monday as concerns over U.S. President Donald Trump’s sweeping tariff plans jolted global financial markets, dragging Asian currencies and stocks lower. The rupee closed at 85.8350 per U.S. dollar, down 0.7% on the day, its worst …
Tariff-spurred market rout pushes Indian rupee to worst day in nearly three months Read More »
By Nimesh Vora and Jaspreet Kalra MUMBAI (Reuters) – India’s central bank could tolerate a sharper depreciation of the rupee if China lets the yuan weaken to cushion the impact of U.S. tariffs, multiple sources aware of the central bank’s thinking said. China and India compete in exports such as machinery, electronics, pharmaceuticals, chemicals and …
India may tolerate weaker rupee if tariffs spur yuan decline, sources say Read More »
By Aditi Shah and Shivangi Acharya NEW DELHI (Reuters) – The European Union wants India to eliminate tariffs on car imports under a long-pending trade deal and Prime Minister Narendra Modi’s government is willing to sweeten its current proposal to seal the talks, sources told Reuters. India is open to the phased reduction of tariffs …
Exclusive-After Trump, EU seeks zero tariff from India on car imports, sources say Read More »
(Reuters) -Shares of Indian fashion retailer Trent slumped as much as 18% on Monday, set for their worst day since March 2020, after the company’s fourth-quarter business update underscored a continuing trajectory of moderating revenue growth. The retailer’s stock was the top loser on the blue-chip Nifty 50 index, which was down about 4% amid …
Indian retailer Trent slumps 18% as revenue growth slows to four-year low Read More »
