Prime Minister Modi ramped up spending on roads, railways and rural infrastructure in April to boost economic growth, after $19 billion in cuts brought public investment shuddering to a halt at the end of the last fiscal year.
India
Cairn India, Vedanta boards to meet on Sunday amid merger speculation
The boards of oil company Cairn India and its parent Vedanta Ltd will meet on Sunday, Cairn said, to discuss what could be a potential merger of the company with its parent, the operating unit of London-listed mining and energy group Vedanta Resources Plc.
India’s central bank nearing policy crossroads
The Reserve Bank of India is facing a fork in the road for the first time since Governor Raghuram Rajan took office amid much fanfare and started targeting inflation as the central bank’s primary mandate.
Adani, Reliance to build Bangladesh power plants to ease crisis
Two leading Indian power firms will build several plants in Bangladesh to produce up to 4,600 megawatts of electricity to ease the country's prolonged power crisis, a senior official said on Saturday.
New Delhi rejects license applications of taxi firms Uber, Ola
US-based ride-sharing company Uber and its local rival Ola's licence applications has been rejected by the Delhi government, according to Reuters.
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India's economy grew faster than China's in the quarter through March, data showed on Friday, but a sharp downward revision for the previous quarter fuelled doubts about the accuracy of a new method used to measure economic activity.
India's plans to allow domestic firms to raise rupee-denominated debt abroad for the first time are being eclipsed by the rising cost of funds in international markets, making it harder for cash-starved businesses to take advantage of the relaxed rules.
India's largest cigarette maker, reported a lower-than-expected quarterly profit as higher taxes on smokes and a government push to discourage tobacco consumption hurt business.
State Bank of India, the nation's top lender by assets, posted better-than-expected quarterly bad debt levels on Friday and said it now expected an improvement, a long-awaited sign of easing pressure that helped its shares jump over five percent.
Indian e-commerce firms are offering funding help and tech support to woo small retailers, emulating a strategy used by Chinese online retail giant Alibaba Group Holding Ltd to expand into the towns and villages home to the majority of consumers.
Uber is testing cash payments in India as the online taxi-hailing company seeks a stronger foothold in a country where many fewer people have credit cards than internet connections.
Global investment banks are scrambling to get a piece of the action from India's booming technology start-ups, having missed out on the initial flurry of deal-making to their better-connected but much smaller domestic rivals.
Alibaba Group Holding (BABA.N) is in talks with India's Micromax Informatics (IPO-MINF.NS) to buy an about 20 percent stake in the smartphone maker, helping the Chinese e-commerce giant expand in one of the world's fastest growing markets for the devices, several people with direct knowledge of the matter said.
Ratan Tata, chairman emeritus of the holding company of India's Tata conglomerate, has acquired a stake in Xiaomi Technology [XTC.UL], a deal that is likely to bolster the Chinese phone maker's presence in the world's third-largest smartphone market.
