MUMBAI (Reuters) -India on Wednesday restricted imports on plain gold jewellery, as the world’s second-largest consumer of the precious metal tries to plug loopholes in its trade policy. Import of articles of gold have been put under the restriction category from the free category, a government notification said, adding that import under the India-United Arab …
NEW DELHI (Reuters) – India’s capital New Delhi on Wednesday began evacuating hundreds of residents over the risk of flooding as record rainfall has swelled water levels in a river that runs through the city, its chief minister said. The Yamuna River has already risen above the “danger mark” and submerged a few adjoining areas …
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NEW DELHI (Reuters) – Talks for a free-trade agreement between Britain and India are at a critical stage, and the Indian commerce minister’s visit to London this week has helped to overcome obstacles, the Indian government said on Wednesday. In May, Indian sources said the two countries were struggling to make progress in free-trade talks …
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By Sethuraman N R and Dhwani Pandya BENGALURU/ MUMBAI (Reuters) -India’s No.1 software services exporter Tata Consultancy Services warned about near-term softness in demand from clients despite reporting a slightly better-than-expected quarterly profit on Wednesday. TCS is the first among its peers to report quarterly results, setting the tone for a $245 billion industry that …
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BENGALURU (Reuters) -India’s No.3 IT firm HCLTech reported weaker-than-expected quarterly results on Wednesday after its technology and telecom clients cut discretionary spending amid global macroeconomic uncertainties. Net profit at HCLTech rose 7.7% to 35.34 billion rupees ($430.2 million) in the first quarter ended June 30, but missed analysts’ average estimate of 38.17 billion rupees, according …
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BENGALURU (Reuters) – Patanjali Foods’ largest shareholder Patanjali Ayurved said on Wednesday it plans to sell up to 9% of its stake in the edible oil maker to align with rules on minimum public shareholding. Patanjali Ayurved currently owns close to 40% stake in the company and along with other influential shareholders, known as promoters, …
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NEW DELHI (Reuters) -India’s industrial output rose 5.2% year-on-year in May, data from the Ministry of Statistics showed on Wednesday. Analysts in a Reuters poll had forecast an expansion of 4.8%. Industrial output for April was revised to 4.5% from 4.2%. Manufacturing, which accounts for about 17% of the Indian economy, rose 5.7% year-on-year in …
By Aftab Ahmed and Sarita Chaganti Singh NEW DELHI (Reuters) -Surging food prices accelerated India’s annual retail inflation rate in June, snapping four months of easing and erasing any chance of a rate cut by the central bank this year. June retail inflation rose to 4.81%, higher than both the revised 4.31% for the previous …
India’s retail inflation rises more than expected in June on higher food prices Read More »
(Reuters) – India’s annual retail inflation quickened in June, snapping four months of easing, due to surging prices for vegetables, government data showed on Wednesday. June retail inflation rose to 4.81%, higher than both the revised 4.31% for the previous month and the 4.58% expected in a Reuters poll of 55 economists. COMMENTARY: SAUGATA BHATTACHARYA, …
By Sumit Khanna AHMEDABAD, India (Reuters) – India’s Gujarat state is holding talks with Foxconn over a semiconductor plant, a top government official told Reuters, days after the Taiwanese giant broke off a $19.5 billion joint-venture plan with India’s Vedanta. “We are in touch with multiple prospective investors, including Foxconn … Gujarat is uniquely positioned …
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