Reuters India

India tightens disclosure norms for offshore funds

By Jayshree P Upadhyay MUMBAI (Reuters) -India’s markets regulator on Wednesday strengthened disclosure requirements for a set of “high-risk” offshore funds investing in local markets to prevent attempts to dodge regulations on mandatory public shareholding. The move is aimed at unraveling opaque structures through which some offshore funds invest in India-listed companies and follows an …

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India pushes back plan to collect 20% tax on overseas spending beyond a certain cap

NEW DELHI (Reuters) – India has pushed back plans to collect a 20% tax on annual overseas spending of more than 700,000 Indian rupees ($8,500) by three months to provide banks with more time to prepare their systems, according to a government statement late on Wednesday. The move to tax overseas spending above the threshold …

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India’s govt lists 30 critical minerals in clean energy push

NEW DELHI (Reuters) – The Indian government said on Wednesday that it had listed 30 minerals, including nickel, titanium, vanadium and tungsten as critical to drive its clean energy push. The federal government had previously listed 12 strategic minerals, including lithium – a critical raw material for electric vehicle batteries. Lithium reserves were discovered earlier …

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Indian govt meets Foxconn, Samsung, Reliance to improve PLI scheme

By Shivangi Acharya NEW DELHI (Reuters) – The Indian government met large global firms such as Foxconn, Samsung Electronics and Reliance Industries to find ways to boost manufacturing in the country with its production-linked incentive (PLI) scheme. The meeting, addressed by India’s Trade Minister Piyush Goyal on Tuesday, comes amid concerns that some of the …

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Indian insurers await classification of HDFC bonds post-merger; assess impact on holdings

By Bhakti Tambe and Dharamraj Dhutia MUMBAI (Reuters) – Indian insurers are awaiting clarity on how Housing Development Finance Corp’s bonds will be categorised after the lender is folded into HDFC Bank, as they assess the impact of the merger on their debt portfolios. There is uncertainty whether HDFC’s bonds will be classified under housing …

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India’s Bharat Petroleum to raise $2.19 billion in green energy push

BENGALURU (Reuters) -State-owned oil marketing company Bharat Petroleum said on Wednesday it approved raising up to 180 billion rupees ($2.19 billion) through an issue of equity shares on a rights basis underscoring India’s push to achieve net zero-emissions goals. The details of the issue, including the price, right entitlement and timing will be intimated separately …

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