Reuters India Business

NEW DELHI (Reuters) – India’s finance ministry is considering a proposal to impose countervailing duty on steel imports from China, Vivek Johri, chairman of the board of indirect taxes and customs, told reporters at an event on Friday. “Recommendation has come from Directorate General of Trade Remedies and it is still under examination, we haven’t taken …

India examining recommendation to impose countervailing duty on Chinese steel imports Read More »

BENGALURU (Reuters) -Indian information technology (IT) company Tata Consultancy Services said on Friday it has mutually agreed with insurance provider Transamerica to end a $2 billion contract, citing reasons including a challenging macro environment. The 10-year contract, signed in early 2018, involved TCS working with U.S.-based Transameria to enable the digitization of more than 10 …

India’s TCS, Transamerica end $2 billion contract due to macro environment Read More »

(Reuters) – Micron Technology Inc is close to committing at least $1 billion towards setting up a chip packaging factory in India, Bloomberg News reported on Friday. An announcement could be made when Prime Minister Narendra Modi visits the U.S. next week, according to the report, citing people with knowledge of the matter, one of …

Micron nears $1 billion investment in India chip packaging plant – Bloomberg News Read More »

(Reuters) – Singapore Airlines on Friday refuted a media report saying it may raise its stake in Air India from the 25.1% which it secured as part of the Tata Group’s Vistara merger to create a bigger full-service India’s national carrier. Singapore’s state carrier’s statement was in response to a report by Indian newspaper Mint, …

Singapore Airlines denies media report on raising stake in Air India Read More »

By Sethuraman N R and Siddhi Nayak BENGALURU (Reuters) – The Indian rupee strengthened beyond the key 82 per dollar mark on Friday on the back of scaled-down bets of a hawkish U.S. Federal Reserve in the coming months but gains were capped by importers rushing in to hedge at over five-week highs. The rupee …

Indian rupee breaches 82/USD; importers jump in to hedge Read More »

By Ira Dugal MUMBAI (Reuters) – A sequential increase in merchandise imports in May that led to the trade deficit widening to a five-month high signalled a stable local economy, economists said. Merchandise imports advanced 14.5% over the previous month to $57.1 billion, while exports inched up 0.7% to $35 billion. The merchandise trade deficit …

India’s merchandise import jump in may signals stable local economy – economists Read More »

SINGAPORE (Reuters) – GAIL (India) Ltd has issued a swap tender seeking 12 cargoes of liquefied natural gas (LNG) for loading in the U.S. in exchange for 12 cargoes for delivery into India in 2024, two industry sources said on Friday. India’s largest gas distributor is offering the cargoes for loading from the Sabine Pass …

GAIL India issues swap tender for 12 LNG cargoes in 2024 – sources Read More »

By Nikunj Ohri NEW DELHI (Reuters) – India’s government is planning to ask lawyers to keep a record of all transactions with their clients and share any suspicious activity with authorities, as New Delhi looks to strengthen its money laundering laws, two sources familiar with the plan told Reuters. The authorities believe the plan will …

India plans to ask lawyers to report clients’ dubious transactions – sources Read More »