New Delhi: Industry leaders welcomed the recently announced GST reforms, which reduce the number of tax slabs, stating that it will make tax compliance easier while also directly benefiting consumers through lower prices. Jharkhand Chamber of Commerce Joint Secretary Navjot Alang Rubal said that the reduction of the number of slabs from four to two under the new GST structure is a highly positive step. According to Rubal, this reform will greatly benefit the middle and lower-income groups as t...Read More
NEW DELHI, Sept 5 (Reuters) - India will continue to buy Russian oil as it proves economical, its finance minister said on Friday, despite the Trump administration's decision to impose heavy import tariffs on Indian goods due, in part, to its energy purchases from Moscow. As Europe and the U.S. have shunned Russian oil over Moscow's 2022 invasion of Ukraine, India has taken advantage of discounts on Russian output to become the largest buyer of Russian seaborne crude. New Delhi has said its pu...Read More
By Hritam Mukherjee and Nidhi Verma NEW DELHI (Reuters) -India will continue to buy Russian oil as it proves economical, its finance minister said on Friday, despite the Trump administration's decision to impose heavy import tariffs on Indian goods due, in part, to its energy purchases from Moscow. As Europe and the U.S. have shunned Russian oil over Moscow's 2022 invasion of Ukraine, India has taken advantage of discounts on Russian output to become the largest buyer of Russian seaborne crude...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
WASHINGTON, Sept 1 (Reuters) - U.S. President Donald Trump said on Monday that India has offered to reduce its tariffs on U.S. goods to zero, even as Indian Prime Minister Narendra Modi was making public shows of solidarity with Chinese and Russian leaders in the face of trade pressure from Washington. While calling the U.S. relationship with India "one sided," Trump wrote on his Truth Social platform: "They have now offered to cut their Tariffs to nothing, but it's getting late. They should ha...Read More
WASHINGTON (Reuters) -U.S. President Donald Trump said on Monday that India has offered to reduce its tariffs on U.S. goods to zero, even as Indian Prime Minister Narendra Modi was making public shows of solidarity with Chinese and Russian leaders in the face of trade pressure from Washington. While calling the U.S. relationship with India "one sided," Trump wrote on his Truth Social platform: "They have now offered to cut their Tariffs to nothing, but it's getting late. They should have done s...Read More
TOKYO, Aug 29 (Reuters) - Japan's Prime Minister Shigeru Ishiba and his Indian counterpart Narendra Modi agreed on Friday to deepen economic and security ties as New Delhi confronts new U.S. tariffs and Tokyo looks to counter China's growing influence. "Japan and India should draw on each other's strengths, help solve each other's challenges, and even tackle together the issues that future generations will face," Ishiba said at a joint press announcement with Modi after talks in Tokyo. The two...Read More
LAHORE/SRINAGAR (Reuters) -Pakistan's eastern towns of Chiniot and Hafizabad face a risk of catastrophic floods if an irrigation barrage crumbles on a major river upstream after heavy rains swelled it beyond capacity, officials warned on Thursday. Nuclear-armed neighbours India and Pakistan are battling torrential monsoon rains that have unleashed flash floods, swelled rivers and filled dams, with 60 deaths this month in Indian Kashmir, and Pakistan's toll at 805 since late June. Any flooding ...Read More
HANSALPUR, India, Aug 26 (Reuters) - Japan's Suzuki Motor (7269.T), opens new tab 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 (MRTI.NS), opens new tab. India will be the global production ...Read More
China has begun construction of a massive hydropower dam on the Yarlung Tsangpo River, sparking concerns in India that Beijing could control water flows to Arunachal Pradesh. China's plans to create a mega dam in Tibet have sparked concerns in India over reduced water flows on the Brahmaputra river by up to 85% during the dry season, according to four sources familiar with the matter and a government analysis seen by Reuters. According to Xinhua news agency, China has officially begun construc...Read More
MUMBAI/NEW DELHI, Aug 26 (Reuters) - Indian exporters are bracing for disruptions after a U.S. Homeland Security notification confirmed Washington would impose an additional 25% tariff on all Indian-origin goods from Wednesday, ramping up trade pressure on the Asian nation. Indian exports will face U.S. duties of up to 50% - among the highest imposed by Washington - after President Donald Trump announced extra tariffs as punishment for New Delhi's purchases of Russian oil. The new duties will ...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
MUMBAI (Reuters) -India's Vodafone Idea Telecom Infrastructure, a wholly owned subsidiary of telecom operator Vodafone Idea, is in talks to raise up to 50 billion rupees ($569.5 million) through a debt sale in September, three sources familiar with the matter said on Tuesday. The unit of India's third-largest wireless carrier plans to issue bonds with tenors of two and three years, raising 30 billion rupees and 20 billion rupees, respectively, the sources said. The company is expected to tap p...Read More
ISLAMABAD: India on Monday made a second contact with Pakistan in a day to warn Islamabad about a potential flood in the Sutlej River, after issuing a previous warning about the Tawi River at Jammu, diplomatic sources told Geo News. The Indian High Commission in Islamabad reached out to the Ministry of Foreign Affairs to convey details regarding possible flood conditions in the Sutlej River, the sources said. They added that India has shared such data with Pakistan during flood situations in t...Read More
NEW DELHI (Reuters) -India shared a warning on possible cross-border flooding with neighbour Pakistan on "humanitarian grounds" and not under the water-sharing Indus Waters Treaty between the old enemies, an Indian government source told Reuters on Monday. India's high commission in Islamabad shared the warning on Sunday, the source said, following heavy rains in the Jammu and Kashmir region bordering Pakistan. India's foreign ministry did not immediately respond to a request for comment. The ...Read More
NEW DELHI, Aug 25 (Reuters) - India shared a warning on possible cross-border flooding with neighbour Pakistan on "humanitarian grounds" and not under the water-sharing Indus Waters Treaty between the old enemies, an Indian government source told Reuters on Monday. India's high commission in Islamabad shared the warning on Sunday, the source said, following heavy rains in the Jammu and Kashmir region bordering Pakistan. India's foreign ministry did not immediately respond to a request for comme...Read More
Aug 25 (Reuters) - Credit-rating firm Fitch maintained India's sovereign rating at 'BBB-' on Monday, citing levels of fiscal deficits and debt that are still high, crushing the government's hopes for a lift in ratings by all three major providers. This month, S&P upgraded India to 'BBB', its first such upgrade in 18 years, prompting the government to respond that it expected other rating houses to follow suit. Fitch has rated India at 'BBB-' since 2006, while Moody's has retained its 'Baa3' ra...Read More
Aug 22 (Reuters) - India's markets regulator on Friday proposed changes to the country's block deal framework, including raising the minimum order size for such trades. The Securities and Exchange Board of India proposed to increase the minimum block deal size to 250 million rupees from the current 100 million rupees, according to a consultation paper published on its website. A block deal is used to execute large trades through a single transaction without putting either the buyer or seller i...Read More
(Reuters) -U.S. stock index futures slipped on Thursday, as investors stepped to the sidelines and awaited an earnings report from big-box retailer Walmart and clues on the Federal Reserve's next policy move from a three-day conference in Jackson Hole. A sharp decline in technology stocks such as Nvidia, AMD, Palantir and Meta earlier this week signaled investor fears that the stocks, which have soared since April lows, are now overvalued, while Washington's growing interference in the sector h...Read More
(Reuters) -Indian software-services exporter Wipro said it will buy U.S.- based firm Harman's digital transformation solutions (DTS) arm for $375 million to sharpen its AI-led engineering services. The unit, Harman Connected Services, is part of Samsung's Harman International. As part of the agreement, over 5,600 DTS employees, across the Americas, Europe and Asia will transition to Wipro upon the closing of the transaction by the end of the year, subject to regulatory approvals. Harman, best...Read More
Aug 20 (Reuters) - Indian miner Vedanta's (VDAN.NS), opens new tab demerger is facing objection from the federal government, CNBC-TV18 reported on Wednesday, after the company received, opens new tab a warning from the markets regulator for non-compliance. Shares of the company fell 2.4% to hit session's low after the report. Vedanta, led by billionaire Anil Agarwal, aims for a sweeping overhaul to carve itself up into multiple separate businesses, in a move aimed at shoring up the group's fin...Read More
MUMBAI (Reuters) -India's monetary policy committee members flagged evolving risks from global trade tensions and tariffs as a key drag on growth but said the economy remains resilient with the inflation outlook benign, minutes of the August meeting showed on Wednesday. The Reserve Bank of India held its key repo rate steady at 5.50% earlier this month, after cutting rates by 100 basis points so far in 2025. The six-member Monetary Policy Committee voted unanimously to retain a "neutral" stanc...Read More
NEW DELHI (Reuters) -India said on Thursday that it hoped relations with the United States would move forward based on mutual respect and shared interests, seeking to temper worries that ties were headed downhill in the aftermath of high tariffs imposed by Washington. A U.S. defence policy team will be in New Delhi this month for talks with Indian officials and its arms purchases from the U.S. are on course despite the strain in ties, the Indian foreign ministry said. A new friendship built be...Read More
NEW DELHI (Reuters) -Russia-backed Indian refiner Nayara Energy said on Thursday it was talking to government authorities and partners to maintain operational stability of its 400,000 barrels per day refinery and fuel supplies despite EU sanctions hurting the supply chain. The private refiner, majority-owned by Russian companies including Rosneft, was sanctioned by the EU last month as part of a package targeting entities linked to Russian oil. The private company sells about 70% of its refine...Read More
NEW DELHI, Aug 14 (Reuters) - Publicis has sued India's antitrust watchdog for denying access to case files in a high-profile price-fixing investigation of ad agencies, after the French group failed to get the probe stalled until it could review the documents, court filings show. The Competition Commission of India (CCI) shook India's near-$30 billion media and entertainment sector in March with dawn raids at WPP's (WPP.L), opens new tab GroupM, Dentsu (4324.T), opens new tab, Publicis (PUBP.PA...Read More
MUMBAI, Aug 14 (Reuters) - Credit rating agency S&P Global upgraded India's long-term unsolicited sovereign credit ratings to "BBB" from "BBB-" on Thursday, citing economic resilience and sustained fiscal consolidation. The agency had revised the outlook on India's rating in May last year to positive from stable on robust growth and improved quality of government expenditure. "The upgrade of India reflects its buoyant economic growth, against the backdrop of an enhanced monetary policy environ...Read More
NEW DELHI: India's wholesale price index (WPI)-based inflation slipped to a 25-month low of -0.58% in July, marking a second straight month in negative territory, provisional data from the Ministry of Commerce showed on Thursday. The reading was well below economists' expectations of a 0.30% decline in a Reuters poll. WPI, a proxy for producers' prices, stood at -0.13% in June, 0.13% in May, 0.85% in April, 2.25% in March, 2.45% in February, and 2.51% in January. The index was pulled down prim...Read More
Gurugram : JSW MG Motor India today announced that India's best-selling EV, the MG Windsor, has achieved another remarkable milestone. In July, the company set a new record for Windsor sales, selling 4,308 units in a single month. The carmaker has sold nearly 36,000 units of the MG Windsor since its launch. The robust sales performance has helped the company expand its market share in the EV Segment. In Q2 CY'25, the company recorded a 4% increase in market share, rising to 32% from 28% in Q1 C...Read More
NEW DELHI - Top India executives of FedEx, UPS, Aramex and DHL are set to be cross-examined in coming weeks by a book publishers' group which accused them of price collusion, a new twist in an antitrust probe that cleared the courier companies of wrongdoing last year, a document shows. Allowing a complainant to interrogate companies is not common in Indian antitrust cases. It means the final findings of the antitrust investigation could change and create new challenges for the courier majors, a...Read More
Kolkata, Aug 14 (PTI) Chief Minister Mamata Banerjee on Thursday said India would not have got Independence if Bengal was not there, as personalities like Rabindranath Tagore and Subhas Chandra Bose, who contributed significantly to shaping the nation's destiny, were born here. Speaking at a function marking the 12th anniversary of the 'Kanyashree' scheme, Banerjee said Bengal is the beacon of hope which stands for unity amid diversity. "If Bengal was not there, India would not have got Indepe...Read More