Reuters India Business

BENGALURU (Reuters) -IndiGo operator Interglobe Aviation said on Friday it would receive compensation from Pratt & Whitney through its affiliate for powder metal issues that grounded some of its aircraft. The company, which did not reveal the amount, said it will receive the compensation through the Pratt & Whitney affiliate, International Aero Engines. Over 70 …

India’s IndiGo to receive compensation from Pratt & Whitney for engine issues Read More »

By Shivangi Acharya and Manoj Kumar NEW DELHI (Reuters) – India’s merchandise exports rose 9.1% to $38.13 billion in May from a year earlier, helped by an increase in shipments of engineering goods, commercial vehicles and smartphones, government data showed on Friday. Merchandise imports in the same month rose 7.7% year-on-year to $61.91 billion – …

India’s May exports up 9.1% y/y as outlook improves Read More »

By Aditi Shah and Shivansh Tiwary DUBAI/NEW DELHI (Reuters) – Global airlines are launching new flights and expanding schedules in India, betting the South Asian giant will become one of the hottest travel markets over the next decade, airline officials and analysts say. India, among the fastest-growing major aviation markets, took centre stage at the …

Global airlines bet on India travel boom Read More »

NEW DELHI (Reuters) -India’s wholesale prices rose 2.61% in May, the most in more than a year, mainly driven by food items, government data showed on Friday. May inflation was higher than the 2.5% expected by economists polled by Reuters and up from 1.26% in April. Food prices rose 7.4% on year compared with an …

India’s May wholesale prices rose 2.61% Y/Y, most in over a year Read More »

(Reuters) -German carmaker Mercedes-Benz on Thursday confirmed its investment plan for India of $24 million in 2024, adding that expanding that sum would depend on market conditions. The comments come after Uday Samant, Industries minister of Maharashtra, said in a post on X that Mercedes-Benz would invest 30 billion rupees ($360 million) in the Indian …

Mercedes-Benz sticks to $24 million investment plan for India in 2024 Read More »

By Aditya Kalra and Arpan Chaturvedi NEW DELHI (Reuters) -India’s Rajasthan state has told the federal government it found some spices of popular brands MDH and Everest “unsafe” for consumption after tests, a letter shows, as local and global scrutiny of the brands for alleged contamination intensifies. Hong Kong in April suspended sales of three …

India’s Rajasthan finds some MDH and Everest spices unsafe for consumption Read More »

By Nivedita Bhattacharjee BENGALURU (Reuters) – A joint venture between Reliance Industries’ Jio Platforms and Luxembourg-based SES to provide gigabit fibre internet has won approval from the Indian space regulator to operate satellites there, a government executive said. The three approvals issued to Orbit Connect India – which aims to provide satellite-based high-speed internet access …

Reliance’s Jio Platforms clears hurdle in bid to launch satellite internet in India Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was nearly flat on Thursday, as dollar demand from local corporates offset the impact of gains in Asian currencies after a softer-than-expected U.S. inflation print pushed Treasury yields lower. The rupee was at 83.53 against the U.S. dollar as of 10:30 a.m. IST, barely changed from …

Rupee little changed as importer dollar bids counter fall in US bond yields Read More »