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BENGALURU, April 9 (Reuters) - India's annual inflation likely rose modestly in March to 3.48%, according to a Reuters poll of economists, as a fall of around 11% in gold prices last month partly offset a surge in fuel prices in the wake of the Iran war. While food price rises were modest, the U.S.-Israeli war on Iran which began on February 28 prompted a jump in global oil prices and severe fuel shortages in India, the world's most populous country. But retail price rises have been mostly sta ...Read More >
NEW DELHI, April 9 (Reuters) - India's steel mills aim to cut carbon emissions by about a quarter over the next decade and reduce reliance on coal, while the world's second-biggest producer of the alloy plans to more than double output, according to a document seen by Reuters. Under the proposed "National Steel Policy 2025", India aims to cut emissions from steel mills to 2 metric tons of carbon dioxide per ton of finished steel by 2035-36, according to a draft cabinet note dated March 10, revi ...Read More >
NEW DELHI, April 9 (Reuters) - India's oil minister Hardeep Singh Puri will make an official visit to Qatar on April 9 and 10, authorities in New Delhi said on Thursday, as the world's most populous country reels from disruptions to LPG supply. The visit follows Tuesday's news of a ceasefire between the United States and Iran, but Israel continues to pound Lebanon with its heaviest strikes. Reporting by Sakshi Dayal; Writing by Tanvi Mehta; Editing by Clarence Fernandez Our Standards: Th ...Read More >
NEW DELHI, April 8 (Reuters) - Gujarat Titans survived a ferocious late assault from David Miller to clinch a nerve-shredding one-run win over Delhi Capitals in an Indian Premier League (IPL) thriller on Wednesday. Asked to bat, Gujarat stacked up 210-4 and appeared to have the game in the bag after Delhi's chase wobbled when KL Rahul departed after a 52-ball 92. Miller, who had earlier retired hurt with a hand injury, returned to transform a canter into a cliff-hanger before Delhi finished on ...Read More >
SINGAPORE, April 8 (Reuters) - India has withdrawn its offer to host the United Nations annual climate Conference Of the Parties (COP33) in 2028, two government officials familiar with the matter told Reuters. India communicated its decision to not host the conference this month, the officials said, but it was not immediately clear why the government had pulled out. The officials declined to be named as they are not authorised to speak to the media. Prime Minister Narendra Modi had proposed h ...Read More >
April 8 (Reuters) - Adani Green Energy (ADNA.NS), opens new tab on Wednesday said Gautam Adani and his nephew Sagar Adani plan to seek dismissal of a civil suit filed by the U.S. Securities and Exchange Commission in a New York court by April 30, citing lack of jurisdiction. Reporting by Nishit Navin; Editing by Sonia Cheema Our Standards: The Thomson Reuters Trust Principles., opens new tab ...Read More >
NEW DELHI, April 8 (Reuters) - India is set to receive its first oil from Iran in seven years this week, after the U.S. temporarily removed sanctions on Iranian oil and refined products to ease supply shortages, ship tracking data from LSEG and Kpler showed on Wednesday. The cargo on the Curacao-flagged very large crude carrier Jaya was purchased by state-run Indian Oil Corp .NS> and is heading to India's east coast, the data showed. Indian Oil, the country's top refiner, did not immediately ...Read More >
April 8 (Reuters) - India's airport tariff regulator has ordered major airports to cut landing and parking charges by 25% for three months for domestic flights, offering relief to the country's airlines that are under financial pressure due to the Iran war. The move to cut charges comes after IndiGo and Air India sought the rationalisation of some fees levied by airports. The country's two largest airlines are facing a double whammy from the Iran war, as Indian airlines are already barred from ...Read More >
April 8 (Reuters) - Shares of Indian jeweller Titan Company (TITN.NS), opens new tab rose as much as 5.7% to hit a record high on Wednesday, after posting a 42% rise in quarterly domestic sales, driven by higher average selling prices for gold and a rise in buyer volumes. Titan's mainstay jewellery business, which accounts for over 90% of its revenue, grew 46% year-on-year, the company said in a business update for the quarter ended March 31. Spot gold prices rose nearly 8% during the quarter ...Read More >
MUMBAI, April 8 (Reuters) - The Reserve Bank of India kept its key policy rate unchanged on Wednesday as it awaits clearer evidence of the impact from the Iran war on the South Asian nation's economy. While risks to growth and inflation have risen due to the Middle East crisis, the rate panel chose to "wait and watch", RBI Governor Sanjay Malhotra said while announcing the policy decision. The RBI's six-member monetary policy committee voted to keep the repo rate (INREPO=ECI), opens new tab st ...Read More >
NEW DELHI, April 7 (Reuters) - India sees no immediate risks to its fiscal deficit target for the financial year that began on April 1, and will continue to prioritise capital spending, two government sources said, as New Delhi assesses the fallout from the Middle East crisis. Officials are considering austerity measures, including spending curbs in ministries with limited capacity to use allocated funds, but are keen to continue spending on roads, railways and airports, which the government se ...Read More >
NEW DELHI, April 7 (Reuters) - India is planning sovereign guarantees to support insurers that provide cover for vessels travelling in the Persian Gulf, as the Middle East war increases the risks to shipping, said government and industry sources familiar with the matter. The plan includes a $1.5 billion sovereign guarantee fund to provide insurers with reinsurance support and liquidity should insurance costs remain high, said one government source. A separate $300 million fund with contributio ...Read More >
NEW DELHI, April 7 (Reuters) - India plans to roll out sovereign credit guarantees on loans worth $26.7 billion, aimed at supporting businesses, particularly small firms, affected by the Middle East crisis, two government sources said. Businesses, such as textile and glass makers, have been hit by disruptions to supply from the Middle East due to the U.S.-Israeli war with Iran. At the same time India, the world's third-largest oil importer, also faces the risk of rising inflation and slower gr ...Read More >
MUMBAI, April 7 (Reuters) - India is expected to receive below-normal monsoon rainfall in 2026, private weather forecaster Skymet said on Tuesday, as the El Nino weather pattern is set to reduce precipitation in the second half of the June-September rainy season. Monsoon rainfall is expected to be 94% of the long-period average of 868.6 mm for the four-month period, Skymet said. The state-run India Meteorological Department (IMD) is likely to issue its first forecast for the monsoon seaso ...Read More >
April 6 (Reuters) - India's central bank on Monday kept foreign debt investment limits unchanged for 2026-27, as foreign investors continue to hold lesser amounts of government bonds than permitted. The central bank, which revises these limits annually, said overall investment ceilings will increase in absolute terms as the pool of government debt increases. Here are the details: ** Foreign portfolio investment limits for 2026-27 were kept unchanged at 6% for government securities, 2% for st ...Read More >
MUMBAI, April 6 (Reuters) - India, the world's largest urea importer, is looking to purchase 2.5 million metric tons of the key crop nutrient to shore up domestic supplies, which have tightened due to the U.S.-Israeli war with Iran. State-run Indian Potash Ltd (IPL) issued a tender on Saturday to import 1.5 million tons via the country's west coast. The remaining 1 million tons will arrive through the east coast, according to the document posted on the company's website. Shipments are expected ...Read More >
April 6 (Reuters) - Indian refiners have postponed maintenance shutdowns of their units to meet local fuel demand, a government official said on Monday. Indian Oil Corporation (IOC.NS), opens new tab and Bharat Petroleum Corporation (BPCL.NS), opens new tab were among the companies that had planned to shut units at some of their refineries for routine maintenance, Sujata Sharma, joint secretary in the federal oil ministry said. However, Nayara Energy will shut its 400,000 barrels per day Vadi ...Read More >
MUMBAI, April 6 (Reuters) - Indian companies' activity in the non-deliverable forwards (NDF) market surged to over $7 billion on March 30, around seven times the average, signaling a rush to capture arbitrage opportunities created by banks unwinding positions following regulatory curbs. The unwinding followed the Reserve Bank of India's imposition of restrictions on lenders' net onshore open FX positions, prompting a rush to lower positions aimed at benefitting from gaps between onshore and non ...Read More >
BENGALURU, April 6 (Reuters) - India's services sector grew at its weakest pace in 14 months in March as the Middle East war dampened domestic demand, a survey showed on Monday, though overseas orders hit a near record while input cost pressures were at their most intense since mid-2022. Here are the key details: * The final HSBC India Services Purchasing Managers' Index (PMI) (INPMIS=ECI), opens new tab, compiled by S&P Global, fell to 57.5 in March from February's 58.1, but was higher than a ...Read More >
BENGALURU, April 6 (Reuters) - Top Indian information technology firms are set to report another lacklustre quarter, with revenue and profit seen rising around 10% year-on-year largely on a weaker rupee rather than underlying growth, seven brokerages said. Uncertainties due to wars, weak discretionary spending and concerns around artificial intelligence will keep weighing on client budgets, making the revenue forecast for the next fiscal year a key focus for investors, they added. Tata Consult ...Read More >
Mumbai, Apr 6 (PTI) The Congress on Monday hit out at the Shiv Sena (UBT) over the latter's accusation that the grand old party was using regional outfits as "crutches", and not treating them as "equal stakeholders" in the Opposition alliance. Maharashtra Congress spokesperson Sachin Sawant criticised the editorial in the Sena (UBT) mouthpiece 'Saamana', alleging that the newspaper's executive editor, MP Sanjay Raut, appears confused on several occasions between his roles as a politician and jo ...Read More >
MUMBAI, April 6 (Reuters) - The Reserve Bank of India's tightening of foreign exchange rules will help shield the rupee from pressures emanating from offshore markets, but traders may continue drawing pricing signals from those markets, a senior Axis Bank official said. A 4.5% fall in the Indian rupee since the breakout of the Iran war prompted the central bank to impose a cap on banks' net open FX positions in the onshore markets in late March. The RBI also barred lenders from offering non-de ...Read More >
April 6 (Reuters) - Shares of Wipro (WIPR.NS), opens new tab rose as much as 3.2% on Monday after the Indian IT services firm agreed to buy the IT services business of Singapore-based Olam Group (OLAG.SI), opens new tab for an enterprise value of $375 million. The stock was last up 1.9% at 9:34 a.m. IST, making it the top gainer on the IT index (.NIFTYIT), opens new tab, which was trading 0.5% higher. It was also the second-biggest gainer on the benchmark Nifty 50 (.NSEI), opens new tab, which ...Read More >
MUMBAI, April 6 (Reuters) - India's central bank is expected to keep interest rates on hold on Wednesday as policymakers assess the fallout from the war in Iran , which threatens the South Asian economy and has battered its currency and bond markets. Instead, the focus is likely to be on calming financial markets, with assurances of readiness to support the weakening rupee and inject liquidity to keep bond yields in check, economists and traders said. All but two of 71 economists in a March 23 ...Read More >
April 6 (Reuters) - Indian fast-fashion retailer Trent (TREN.NS), opens new tab said on Monday its standalone revenue rose 20% in the fourth quarter, picking up from the slowest growth in four years recorded earlier in fiscal 2026, sending its shares more than 5% higher in morning trade. India's late-September tax cuts have boosted consumer spending, putting more disposable income in the hands of consumers. Trent has been on a store-opening spree over the last few quarters, with its store cou ...Read More >
April 6 (Reuters) - India's auto dealers warned of possible supply disruptions in the near term, from the West Asia conflict, even as Indian retail vehicle sales rose 25.28% in March, closing the financial year on a strong note on sustained momentum from tax cuts that improved affordability, the Federation of Automobile Dealers Associations (FADA) said on Monday. Passenger vehicle sales rose 21.48% year-over-year in March, while two-wheeler sales rose 28.68% and commercial vehicle sales ro ...Read More >
April 4 (Reuters) - Indian refiners have purchased Iranian oil amid the Middle East conflict that has disrupted supplies through the Strait of Hormuz, the oil ministry said on Saturday. The world's third-biggest oil importer and consumer, India has not received a cargo from Tehran since May 2019, following U.S. pressure not to buy Iranian crude, but supply disruptions from the U.S.-Israel war have hit the South Asian nation hard. "Amid Middle East supply disruptions, Indian refiners have secu ...Read More >
NEW DELHI, April 4 (Reuters) - Punjab Kings captain Shreyas Iyer said an internal competitive edge has driven his side's early-season success rather than any desire to impress those outside the dressing room, after scoring a second successive Indian Premier League (IPL) win on Friday. The team stormed to the top of the IPL standings by chasing down 210 with eight balls to spare against Chennai Super Kings, completing another statement victory to open their campaign with back-to-back wins. Thei ...Read More >
April 2 (Reuters) - Indian consumer firm Marico (MRCO.NS), opens new tab on Thursday said it expects to clock double-digit year-on-year percentage growth in operating profit in the fourth-quarter, aided by stable consumer demand. The maker of Saffola oils and Parachute haircare products said it has witnessed a gradual uptick in consumption across categories after several quarters of tepid demand from customers in urban areas, following reductions in goods and services tax in September. Marico ...Read More >
MUMBAI, April 2 (Reuters) - India's sugar production is set to fall below consumption for a second straight year, as lower cane yields force mills to close faster than usual, trade officials told Reuters on Thursday. Lower output, coupled with rising exports, is likely to reduce domestic stockpiles and support local prices, which had been under pressure due to surplus supplies. "Sugar production is unlikely to exceed 28 million metric tons this season," said the India head of a global trade ho ...Read More >
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