Reuters India Business

By Neha Arora (Reuters) – India’s steel secretary on Wednesday said the country has “more than adequate availability” of a key steelmaking ingredient, weeks after ArcelorMittal’s India joint venture said it may have to curtail local steel production due to import restrictions. India, the world’s second-biggest crude steel producer, could extend restrictions on imports of …

India’s steel secretary says met coke availability ‘more than adequate’ Read More »

MUMBAI (Reuters) – India’s central bank has invited applications to recognise a self-regulatory organisation for account aggregators that facilitate the exchange of information between financial and market institutions. The Reserve Bank of India will recognize one self-regulatory body for account aggregators and the applications must be submitted by June 15, it said on Wednesday. Entities …

India seeks applications to recognise self-regulatory body for account aggregators Read More »

(Reuters) – India’s Ola Electric has managed to save 900 million rupees ($10.3 million) a month from a cost-cutting programme it began in November, the electric scooter maker said on Wednesday. Since making its splashy stock market debut last August, Ola Electric has been hit with a spate of blows ranging from falling sales to …

India’s Ola Electric says saving about 900 million rupees from cost-cut measures Read More »

(Reuters) – India’s steel secretary said on Wednesday that the industry does not see a major impact from tariffs imposed by U.S. President Donald Trump on steel imports as they do not export much steel to the country. “To U.S. we export less than 100,000 metric tons,” Sandeep Poundrik told reporters on the sidelines of …

India’s steel secretary says industry does not expect major impact of US tariffs Read More »

By Swati Bhat and Ira Dugal MUMBAI (Reuters) – India’s central bank is prioritising currency stability over concerns about credit market tightness, defying wider market expectations it would need to let the rupee fall more if it is to free up funds for a faltering economy. The Reserve Bank of India (RBI) cut its key …

Analysis-India’s FX priorities challenge ‘impossible trinity’ assumptions Read More »

By Ashwin Manikandan and Haripriya Suresh (Reuters) – Bessemer Venture Partners, an early backer of Swiggy, has raised $350 million for an India-focused fund to invest in AI-enabled businesses, fintechs and direct-to-consumer brands among others, the company said in a statement on Wednesday. The United States-based venture capital firm said it will allocate this fund …

Venture capital firm Bessemer raises $350 million for second India fund Read More »

By Ron Bousso HOUSTON (Reuters) – India’s largest privately owned oil and gas company Cairn India said it may invest in U.S. service and engineering companies as part of a $5 billion plan to grow output five-fold in the coming years, its chairman said on Tuesday.  “I want to spend $5 billion on developing my …

Billionaire Agarwal may invest in US oil service firms to expand Cairn output Read More »