Reuters India Business

By Anant Chandak BENGALURU (Reuters) – Growth in India’s dominant services industry lost some steam in August but overall conditions remained strong despite elevated inflationary pressures, according to a business survey that showed exports were at a record high on robust foreign demand. Tuesday’s findings, coupled with a sister survey on Friday which found factory …

India’s services growth slowed slightly in Aug but exports hit record high Read More »

By Chris Thomas and Sethuraman N R BENGALURU (Reuters) -Paytm founder Vijay Shekhar Sharma said on Monday he is open to increasing his stake in the Indian fintech firm if there are sellers, weeks after he became the largest shareholder in the company by buying stake from Chinese firm Antfin. Sharma, also CEO of Paytm, …

Paytm’s Sharma open to increasing stake in Indian payments firm Read More »

BENGALURU (Reuters) -Indian low-cost carrier SpiceJet on Monday said it allotted over 48 million shares to nine aircraft lessors to clear outstanding dues worth 2.31 billion rupees (nearly $28 million), as the troubled airline looks to return to full operations. The carrier’s shareholders had on Thursday passed a number of resolutions, including a 25 billion …

Indian airline SpiceJet gives lessors shares to clear $28 million dues Read More »

By Neha Arora NEW DELHI (Reuters) -India is monitoring steel imports after shipments from China touched a five-year high in the first four months of the fiscal year that began in April, the country’s steel secretary told Reuters on Monday. During April-July, China was the second-biggest steel exporter to India, after South Korea, selling 0.6 …

India monitoring steel import situation – govt official Read More »

By Rajendra Jadhav MUMBAI (Reuters) – India’s edible oil imports in August rose 5% to a record 1.85 million metric tons as refiners purchased more than 1 million tons of palm oil for the second consecutive month to build stocks for upcoming festivals, four dealers told Reuters. Higher purchases by the world’s biggest importer of …

Palm oil buying lifts India’s August edible oil imports to record -dealers Read More »

BENGALURU (Reuters) -India’s Jio Infocomm, the telecom wing of Reliance Industries, is in talks to raise up to $2 billion in offshore loans, with BNP Paribas acting as lead arranger, to fund the purchase of 5G network gear from Ericsson, the Economic Times reported on Monday. BNP Paribas will provide $1.9 billion-$2 billion over a …

India’s Reliance Jio seeks up to $2 billion loan to fund 5G plan – report Read More »

(Reuters) -An Indian court on Saturday decided that Jet Airways founder Naresh Goyal will remain in India’s financial crime agency’s custody until Sept. 11, the agency said in a press statement. The Enforcement Directorate (ED), which investigates financial crimes in India, arrested Goyal late on Friday. Jet Airways did not immediately respond to a request …

India court orders Jet Airways founder to remain in custody until Sept. 11 Read More »