Reuters India Business

(Reuters) – Walt Disney and industrial conglomerate Reliance Industries have signed a binding pact to merge their media operations in India, Bloomberg News reported on Sunday, citing people familiar with the matter. The media unit of Reliance, controlled by billionaire Mukesh Ambani, and its affiliates are expected to own at least 61% of the merged …

Disney, Reliance have signed binding media pact, Bloomberg reports citing sources Read More »

MUMBAI (Reuters) – Indians are spending less on food, particularly staples like rice and wheat, and more on discretionary items such as processed food, as well as durables like televisions and fridges, government consumption data showed. The Household Consumption Expenditure Survey, released late on Saturday, estimates average rural consumer spending rose to 3,773 rupees ($45.54) …

Indians spending less on food, more on discretionary items -government survey Read More »

By Siddhi Nayak MUMBAI (Reuters) – India’s Go First has received two financial bids as part of its bankruptcy process, said two bankers who attended a meeting of the airline’s creditors held on Friday. Budget carrier SpiceJet’s managing director, Ajay Singh, and Busy Bee Airways have jointly submitted a bid of 16 billion rupees ($193.10 …

Bankrupt Indian airline Go First gets two financial bids, say bankers Read More »

BENGALURU (Reuters) – Zurich Insurance Group will buy a 70% stake in Kotak Mahindra Bank’s general insurance arm by paying 55.60 billion rupees (nearly $671 million) upfront instead of staggering the purchase as planned last year, the Indian lender said on Friday. Under the original deal, announced in November last year, Zurich was to buy …

Zurich Insurance to buy 70% stake in Kotak arm upfront in amended deal Read More »

By Dhwani Pandya and M. Sriram MUMBAI (Reuters) -Shareholders in Indian edtech startup Byju’s, including tech investors Prosus and Peak XV Partners, voted on Friday to oust its founder and CEO Byju Raveendran, Prosus said in a statement. Byju’s, whose products range from online tutorials to offline coaching, said the decisions taken at an extraordinary …

Indian startup Byju’s calls shareholder move to oust CEO invalid Read More »

NEW DELHI (Reuters) – India will not rush into signing free trade agreements (FTA) unless there is an equitable and fair balance in trade deals, Commerce Minister Piyush Goyal said on Friday. “We should never rush trade negotiations, they are going to impact the country for years and years to come,” Goyal said at an …

India will not rush into signing free trade deals, says minister Read More »

By Munsif Vengattil BENGALURU (Reuters) – A global consortium of semiconductor industry groups has asked India to reconsider its plan to push for duties on cross-border digital e-commerce and data transfers at an upcoming global trade meeting, warning that India’s stance will stifle its own chip design industry. Ministers from across the globe are convening …

India’s stance on data transfers at WTO spooks chip giants Read More »