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NEW DELHI (Reuters) -- Indian low-cost carrier IndiGo named Willie Walsh, the current director general of the International Air Transport Association, as its new chief executive on Tuesday. Walsh's tenure as head of the global airline industry body comes to a close on July 31, and he is expected to ... ...Read More >
NEW DELHI -- India and Canada on Monday announced a slew of pacts, including a $1.9 billion deal to supply uranium to New Delhi, while setting a course to conclude a major trade agreement by the end of the year. "We are targeting to take bilateral trade to $50 billion by 2030," Indian Prime ... ...Read More >
BENGALURU -- India's civil aviation regulator on Friday relaxed some rules regarding pilot leave and night duties as IndiGo, the country's largest airline, continues to struggle with hundreds of flight cancellations stemming largely from a staffing crunch. The Directorate General of Civil Aviation ... ...Read More >
NEW DELHI -- When New Delhi's air quality plunged to "severe" levels this month, Gayatri Shrivastava switched on all three of her apartment's air purifiers -- two in the living room, one in the bedroom -- as a gray haze settled over the city. "Most of them are Philips," she told Nikkei Asia, adding ... ...Read More >
Kolkata, Sep 16 (PTI) Economist and former CPI(M) leader Prasenjit Bose joined the Congress during a programme in the metropolis, and asserted that he would support the party in its fight to "save the Constitution". Bose (51) became a part of the Congress at a formal joining ceremony here on Monday in the presence of party leaders Ghulam Ahmad Mir, Syed Naseer Hussain and Kanhaiya Kumar, besides state unit president Subhankar Sarkar. "We have to protect the Constitution, establish a government ...Read More >
NEW DELHI (Reuters) -- India's merchandise trade deficit narrowed in August to $26.49 billion from $27.35 billion in July, as a drop in exports after U.S. President Donald Trump hiked tariffs on Indian goods was offset by slowing imports. The U.S. imposed an additional 25% tariff on Indian goods from Aug. 27 over New Delhi's continued purchases of Russian oil, bringing total levies on Indian exports to 50% -- among the highest for any U.S. trading partner. Total goods exports fell to a nine-mo ...Read More >
(Reuters) -- India's markets regulator late on Monday issued fresh rules for monitoring intraday positions in equity derivatives. The Securities and Exchange Board of India has been reassessing the rules for equity derivatives after it temporarily banned U.S. high-frequency trading firm Jane Street from the Indian markets, saying some of its trading strategies were manipulative and left retail investors with losses. The new framework, which will take effect from Oct. 1, sets an intraday net po ...Read More >
HANSALPUR, India (Reuters) -- Japan's Suzuki Motor will invest 700 billion rupees ($8 billion) in India over the next five to six years, its chairman said on Tuesday, as production began on the automaker's first electric vehicle. Suzuki is aiming to defend its lead in the world's third-largest car market, which is also its biggest market by sales and revenue through its majority stake in Maruti Suzuki India will be the global production hub for Suzuki Motor's electric cars, with plans to expor ...Read More >
NEW DELHI (Reuters) -- Indian Prime Minister Narendra Modi will visit China for the first time in over seven years, a government source said on Wednesday, in a further sign of a diplomatic thaw with Beijing as tensions with the United States rise. Modi will go to China for a summit of the multilateral Shanghai Cooperation Organization that begins on Aug. 31, the government source, with direct knowledge of the matter, told Reuters. India's foreign ministry did not immediately respond to a reques ...Read More >
THOOTHUKUDI, India (Reuters) -- Vietnamese electric vehicle maker VinFast is in talks with several component manufacturers as it looks to source more from India, the company's Asia CEO said on Monday. The firm is in discussions with several of its current component suppliers, and some want to shift part of their production to an industrial park in India, VinFast Asia CEO Pham Sanh Chau told Reuters on the sidelines of the inauguration of its Indian plant in the southern city of Thoothukudi. Gl ...Read More >
MUMBAI -- Electric vehicle maker Tesla opened its first showroom in India on Tuesday in a glitzy mall in the financial district of Bandra Kurla Complex in Mumbai, after lengthy negotiations with the government over tariffs and local manufacturing. The company's bestselling Model Y was made available for order online from Tuesday, with the no-frills rear-wheel drive model priced at just over 5.9 million rupees ($68,750). The long-range rear-wheel drive version was priced at just over 6.7 million ...Read More >
New Delhi: In cricket, some defeats leave a scar that generations remember. Something like that happened on Monday as India's narrow loss at Lord's in the third Test against England brought back the vivid memories of another heartbreaker. The match took us back to 26 years ago when in Chennai India fell agonisingly short against arch rivals Pakistan despite Sachin Tendulkar's brilliance. Mohammed Siraj's dismissal stirred the deja vu of Chennai. On a tense final day at Lord's, India needed 21 m ...Read More >
NEW DELHI -- India and the U.S. appear on the verge of concluding an interim trade deal ahead of President Donald Trump's Wednesday deadline, when Indian goods would start facing 26% "reciprocal" tariffs, as the sides push toward a comprehensive agreement that could be finalized later this year. The development could help India avoid a steep tariff escalation. It follows a U.S.-Vietnam deal announced on Wednesday in which the U.S. will impose 20% tariffs on Vietnamese goods, lower than the prev ...Read More >
(Reuters) -- India's market regulator said it had barred U.S. trading company Jane Street from accessing the local securities market, after an investigation into alleged market manipulation through positions taken in equities derivatives. The Securities and Exchange Board of India (SEBI) posted an order on its website dated July 3 outlining that Jane Street would no longer be able to participate in the domestic securities market. Jane Street did not immediately respond to a request for comment ...Read More >
MUMBAI -- Shares in Indian nonbank lender HDB Financial Services rose 15%, at one point, from their initial public offering price in their market debut on Wednesday, as investors flocked the country's largest IPO this year. The company's shares began trading at 835 rupees on the National Stock Exchange (NSE), up 95 rupees (13%) from their IPO price of 740 rupees, and then rose to the day's high of 851.40 rupees in the afternoon. ...Read More >
MUMBAI -- The Reserve Bank of India on Wednesday slashed its key policy rate to its lowest level in nearly three years, instituting a third consecutive rate reduction as tepid inflation allowed the bank to focus on spurring economic growth. The central bank cut its repo rate by an unexpectedly sharp 50 basis points to 5.5%, the lowest it has been since August 2022. ...Read More >
NEW DELHI (Reuters) -- Samsung has accused India's competition watchdog of unlawfully detaining its employees and seizing data in a raid carried out in connection with an antitrust investigation on Amazon and Walmart's Flipkart, a legal filing shows. Samsung is embroiled in the Competition Commission of India's (CCI) investigation that in August concluded that the South Korean giant and other smartphone companies broke antitrust laws by colluding with Amazon and Flipkart to exclusively launch p ...Read More >
MUMBAI/NEW DELHI -- The Reserve Bank of India (RBI) on Friday slashed its economic growth forecast for the current financial year ending in March to 6.6% from the 7.2% projected in October after seeing "much lower than anticipated" gross domestic product expansion of 5.4% in July-September. "This decline in [the July-September quarter] growth was led mainly by a substantial deceleration in industrial growth from 7.4% in Q1 to 2.1% in Q2 due to subdued performance of manufacturing companies, con ...Read More >
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