Reuters India Business

MUMBAI (Reuters) – The Indian economy is likely to get a boost from rural demand picking up and a government-announced tax relief that is expected to support urban consumption, the central bank said in its monthly bulletin on Wednesday. Urban demand is “poised for a recovery,” the Reserve Bank of India (RBI) said. A decline …

Indian economy to get boost from budget tax relief, rate cut, central bank report says Read More »

By Anna Peverieri and Alban Kacher (Reuters) – Dutch tank storage company Vopak expects to receive the final decision on the initial public offering of its Indian joint venture Aegis Vopak (AVTL) in the first half of 2025, its finance chief said on Wednesday. Vopak sold a small share as a private placement in 2024 …

Vopak expects decision on AVTL’s IPO in first half of 2025, CFO says Read More »

BENGALURU (Reuters) – The Indian National Space Promotion and Authorisation Centre (IN-SPACe) on Wednesday launched a 5 billion rupee ($57.58 million) fund to help early-stage space technologies go commercial and reduce reliance on imports as the country seeks to boost its market share in the global space industry. The Technology Adoption Fund will also connect …

India’s space regulator launches $58 million fund to boost startups, cut reliance on imports Read More »

NEW DELHI (Reuters) – India’s Oil and Natural Gas Corp is seeking joint venture partners to build very large ethane carriers (VLECs) to ship feedstock for its petrochemical plant in western India, according to a document posted on the company’s website. ONGC Petro additions Ltd (OPaL), a unit of ONGC, operates a dual feed cracker. …

India ONGC plans foray into ethane carrier business, seeks partner Read More »

By Haripriya Suresh (Reuters) – Ride-hailing platform Uber has moved to a zero-commission model for its autorickshaw drivers in India and will instead charge them a subscription fee, mirroring a strategy followed by local rivals as competition intensifies. Uber said it will now only connect users with nearby drivers and will suggest a fare but …

Uber adopts smaller rivals’ model for India autorickshaw rides to weather competition Read More »