Reuters India Business Archives - Page 379 of 1191

India’s drug regulator to streamline export process to reduce workload

27 Feb 2025 27 Feb 2025

By Rishika Sadam MUMBAI (Reuters) – India’s drug regulator aims to implement various reforms, including streamlining export clearances for unapproved drugs and simplifying the manufacturing licensing process, in an effort to reduce the burden on its workforce, its head said on Thursday. The agency has only 2,000 officials to oversee over 10,000 drug factories and …

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IMF keeps India’s ‘stabilised’ exchange rate classification through 2024

27 Feb 2025 27 Feb 2025

By Swati Bhat MUMBAI (Reuters) – The International Monetary Fund retained its classification of India’s “de facto” exchange rate regime as “stabilised” for the period of December 2022 to November 2024 after its latest article IV review, it said in a statement on Thursday. “While the exchange rate has depreciated moderately from November 2024, more …

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Rupee ends little changed, wedged between US tariff fears, RBI intervention

27 Feb 2025 27 Feb 2025

By Siddhi Nayak MUMBAI (Reuters) – The Indian rupee ended little changed on Thursday, caught between weakness in Asian currencies due to U.S. tariff-related uncertainties, and prompt, aggressive intervention by the central bank. The rupee ended at 87.20 against 87.21 in the previous session. The unit hit a more than two-week low of 87.4050 earlier …

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Indian benchmarks end little changed; GDP data awaited

27 Feb 2025 27 Feb 2025

By Vivek Kumar M and Bharath Rajeswaran (Reuters) -India’s benchmark indexes settled flat on Thursday as caution prevailed amid monthly derivatives settlements and ahead of the release of GDP data on Friday, with investors waiting for signs of a pickup in economic activity. The Nifty 50 fell 0.01% to 22,545.05, while the BSE Sensex closed …

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India assessing Trump threat for tariffs on steel, aluminium, official says

27 Feb 2025 27 Feb 2025

NEW DELHI (Reuters) – India is studying U.S. President Donald Trump’s threat to impose tariffs on the country’s steel and aluminium imports, mines secretary Kantha Rao said on Thursday. “We definitely have a cost advantage in production of steel and aluminium. We are studying… what can be done from our side (on tariffs),” Rao said. …

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India seeks to cut states’ share of federal taxes from 2026, sources say

27 Feb 2025 27 Feb 2025

By Shubham Batra and Nikunj Ohri NEW DELHI (Reuters) – The Indian government of Prime Minister Narendra Modi is seeking to cut the federal tax revenues that states receive, three sources with the direct knowledge of the matter said. The suggestion will be made to the constitutionally-appointed Finance Commission of India, which makes recommendations on …

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India’s financial stocks jump as central bank further eases strict lending rules

27 Feb 2025 27 Feb 2025

(Reuters) – Shares of most Indian financial companies, especially those of non-bank and microfinance-focussed lenders, jumped on Thursday after the central bank further eased its capital requirements for micro loans and bank credit. Financial stocks, which include non-bank finance companies (NBFCs), jumped about 1%, outpacing the 0.7% increase in banking stocks. The benchmark Nifty 50, …

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India extends deadline for offshore mineral blocks’ bidding, official says

27 Feb 2025 27 Feb 2025

NEW DELHI (Reuters) – India has extended the deadline for bidding for offshore mineral blocks by one month, an official with the country’s mines ministry said on Thursday. India in November launched the auction of 13 offshore mineral blocks worth more than 1.5 trillion rupees ($17.20 billion). The official declined to be identified because the …

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India court orders Amazon to pay $39 million in damages in Beverly Hills Polo Club case

27 Feb 2025 27 Feb 2025

By Aditya Kalra NEW DELHI (Reuters) – An Indian court has ordered an Amazon unit to pay $39 million in damages for infringing the “Beverly Hills Polo Club” trademark after garments with identical branding were sold on Amazon’s India website, a court order showed on Wednesday. Indian lawyers called the ruling a landmark judgment in …

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India’s UltraTech Cement falls as wire biz foray raises concerns over capital allocation

27 Feb 2025 27 Feb 2025

By Manvi Pant (Reuters) – Shares of UltraTech Cement, India’s top cement maker by capacity, fell about 6% to hit an eight-month low on Thursday as its plan to foray into the cables and wires business led to concerns over capital allocation and debt reduction. The cement maker, a part of the Aditya Birla Group, …

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