Reuters India Business

By Ira Dugal BENGALURU (Reuters) -The International Monetary Fund has reclassified India’s “de facto” exchange rate regime to “stabilized arrangement” from “floating” for December 2022 to October 2023 after an article IV review, with the central bank pushing back against the move. The IMF reclassification followed the Reserve Bank of India’s likely forex interventions where …

IMF’s India exchange rate regime reclassification faces cenbank pushback Read More »

By Sai Ishwarbharath B BENGALURU – India’s information technology firms are accepting tougher contract terms to win large deals from clients as they compete for fewer orders in an uncertain global economy, industry insiders and analysts say. The $245-billion sector, which gained immensely from the pandemic-induced boom in digital services, has struggled in recent quarters …

India’s $245 billion IT sector swallows tougher terms amid scramble for contracts Read More »

BENGALURU (Reuters) – Vedanta Ltd will raise 34 billion rupees ($408.76 million) through an issue of debentures, the Indian metals-to-oil conglomerate said on Tuesday, its third such move in the current fiscal year. The fundraise comes at a time when the company is seeking ways to arrange capital for its cash-strapped parent, UK-based Vedanta Resources. …

India’s Vedanta Ltd to raise $409 million through debentures issue Read More »

By Manvi Pant and Hritam Mukherjee BENGALURU (Reuters) -India’s SpiceJet is considering an offer for bankrupt carrier Go First, the cash-strapped airline said on Tuesday, days after it barely raised enough funds to get its grounded planes back in the sky. SpiceJet said it would make the offer – the details of which were not …

India’s SpiceJet shows interest in buying bankrupt Go First, shares jump Read More »

By Rajendra Jadhav SOLAPUR, India (Reuters) – India’s sugar output this crop year, hit by weak rains, is set to lag consumption for the first time in seven years, according to traders and a survey of farmers, and lower plantings may even force the world’s No.2 producer to import in the following year. Driven by …

Not so sweet: India may need to import sugar as planting wanes Read More »

By Rajendra Jadhav SOLAPUR, India (Reuters) – India, the No.2 sugar producer, has been a net exporter of the sweetener for the past six years. However, it is set to ban exports in the crop year that started in October and may even be forced to import in the following year as farmers turn to …

Factbox-World’s No.2 sugar producer India may need imports in 2025 Read More »

By Dharamraj Dhutia and Bhakti Tambe MUMBAI (Reuters) – Indian lenders doubled the amount of funds raised via longer-term infrastructure bonds this year, as increased federal government spending on long-term projects created lending opportunities. Banks raised over 584 billion rupees ($7.04 billion) via infrastructure bonds in 2023 compared to 296 billion rupees raised in 2022, …

Indian lenders double fundraising via infrastructure bonds on capex push Read More »

By Munsif Vengattil BENGALURU (Reuters) – India has proposed a licensing approach to assigning spectrum for satellite internet services and exempt companies from having to bid for it, a win for Elon Musk’s venture Starlink which has lobbied hard against any auctions. The proposal was included in a new draft bill for the telecommunications sector, …

India to allot satellite internet airwaves without auction in win for Musk Read More »