Reuters India Business

By Aftab Ahmed NEW DELHI (Reuters) – The Indian government is considering spending an additional 2 trillion rupees ($26 billion) in the 2022/23 fiscal year to cushion consumers from rising prices and fight multi-year high inflation, two government officials told Reuters. The new measures will be double the 1 trillion rupees hit government revenues could …

Exclusive-India considering spending additional $26 billion to fight inflation -sources Read More »

By Munsif Vengattil NEW DELHI (Reuters) – India on Saturday announced a series of changes to the tax structure levied on crucial commodities in a bid to insulate consumers from rising prices amid high inflation. Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by 8 rupees ($0.1028) per litre, and 6 …

Indian government trims tax on fuel, essential commodities to fight inflation Read More »

NEW DELHI (Reuters) – The Indian government is removing the import duty on anthractite, PCI coal and coking coal, it said on Saturday, aiming to reduce raw material costs. The measure will be effective from May 22, the government said. (Reporting by Munsif Vengattil in New Delhi; Editing by Pravin Char)

(Reuters) – India’s One 97 Communications Ltd, the parent of fintech firm Paytm, on Friday reported a wider fourth-quarter loss due to higher expenses related to payment processing, marketing and employee benefits. The company had said in April it expected to be operationally profitable by September 2023, though analysts have raised concerns over its business …

Paytm parent’s quarterly loss widens as expenses surge Read More »

NEW DELHI (Reuters) – New Development Bank (NDB), established by the BRICS group of emerging economies, said on Friday it would set up a regional office in India for funding and monitoring infrastructure projects in that country and Bangladesh. “The Indian Regional Office will be instrumental in enhancing NDB’s engagement with borrowers and stakeholders,” NDB …

BRICS-led New Development bank to set up regional office in India Read More »

By Krishna N. Das and Aftab Ahmed NEW DELHI (Reuters) – Surging inflation is forcing many poor Indians to rein in spending, threatening a slowdown for companies such as Godrej Appliances which saw bumper sales as recently as March and April after a brutal heatwave spiked demand for its cooling products. The Ukraine crisis and …

Inflation crimps Indian firms as rural millions cut spending Read More »

By Aditi Shah NEW DELHI (Reuters) – Indian auto parts maker Sona BLW Precision Forgings expects two-thirds of its revenues to come from electric vehicle (EV) components over the next few years, as automakers rush to build more clean cars, its chairman told Reuters. Sona BLW, which produces drivetrain components such motors and gears, will …

Indian auto parts supplier Sona BLW bets on global EV push Read More »