Reuters India Business

By Manoj Kumar NEW DELHI (Reuters) – India is aiming to expand its seafood exports to around $12 billion in the next two years from $8 billion currently, mainly by focusing on high-end markets including the United States and Europe, two government officials said on Wednesday. India has emerged as the biggest supplier of seafood, …

India aims to expand seafood exports to $12 billion in two years, sources say Read More »

By Nimesh Vora MUMBAI (Reuters) – Indian rupee’s exchange-traded options went into a tizzy on Wednesday after brokers asked clients to submit proof of underlying exposure on their derivative contracts or unwind their existing positions, three market participants said. This came after brokers thought a central bank rule, to be effective on April 5, that …

Turmoil in India’s exchange-traded FX options on forced position unwinding Read More »

By Swati Bhat MUMBAI (Reuters) – Strong economic growth and moderating inflation means India’s central bank will have room to keep interest rates on hold at its review this week and likely until July, economists say. The Reserve Bank of India (RBI) is widely expected to keep rates unchanged on Friday, for the seventh consecutive …

India’s ‘Goldilocks’ economy to prompt cenbank to keep rates on hold Read More »

NEW DELHI (Reuters) -Rising crude oil prices are a cause for concern for the world’s third-largest importer of the commodity, India’s oil secretary Pankaj Jain said on Wednesday. As a consuming nation any increase in prices will cause concern and anxiety, Jain said at an industry event, referring to the “geopolitical premium” in crude prices. …

High crude oil prices a cause for concern, India’s oil secretary says Read More »

By Swati Bhat and Nimesh Vora MUMBAI (Reuters) -The Reserve Bank of India (RBI) has not materially changed its stance on exchange-traded rupee derivatives and neither has it asked brokerages for proof of their clients’ underlying forex exposure, two sources aware of the central bank’s thinking said. The RBI had said in January that from April, exchanges …

Exclusive-India cenbank’s stance on underlying exposure for FX derivatives unchanged, sources say Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was little changed on Wednesday as dollar demand from domestic corporates ate into slight early gains supported by dollar inflows. The rupee was at 83.40 against the U.S. dollar as of 10:40 a.m. IST, barely changed from its close at 83.3850 in the previous session. The …

Rupee little changed, traders reckon RBI support key to prevent fall towards record low Read More »

By Bharath Rajeswaran and Kashish Tandon BENGALURU (Reuters) -Indian shares were muted on Wednesday, caught up in the Asia-wide weakness on rising concerns that the Federal Reserve may delay lowering interest rates and as consumer stocks declined. The blue-chip NSE Nifty 50 index was little changed at 22,451.6 as of 10:40 a.m. IST, while the …

Indian shares swept up in Asia-wide fears of delayed US rate cuts Read More »

By Rajendra Jadhav and Mayank Bhardwaj MUMBAI/NEW DELHI (Reuters) -India has asked global and domestic trade houses to avoid buying new-season wheat from local farmers to help the government-backed Food Corporation of India (FCI) procure large quantities to shore up its depleting reserves, sources said. India, the world’s biggest wheat consumer and grower after China, banned exports in …

Exclusive-India asks traders to avoid buying new-season wheat to shore up state stocks Read More »