The mining industry would suffer further degrowth without changes in policy and structure. Many experts have called out to the government that the mining and quarrying industry would most likely suffer more as it contracts by 2.
Tags: India
KKR to acquire Gland Pharma
According to two sources, KKR would acquire Gland Pharma for INR1 billion and would push through by the end of the month.
South Mumbai’s sale of high-end luxury homes drops
The sale of expensive homes in South Mumbai had dropped by 10% from 30% two years ago with rental yields decreasing by more than half.
India set to impose EUR150 million probe for BMW customs violations
BMW is appealing a decision to impose a EUR150 million fine for alleged customs laws violations. German car giant BMW is set to face fines worth EUR100 million in India for allegations of violations committed against the country's importation rules.
BRICS countries to create fund for financial shocks
Brazil, Russia, India, China and South Africa have all agreed to create a USD100 billion fund as buffer for financial shocks.
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The Federal Reserve Bank of India said that it would not convert idle gold into bullion. India's central bank said it does not plan to convert the country's idle gold to bullion.
According to a top Indian government official, Walmart's plans of getting into the country's multi-brand segment could be at its final stage.
Merger and acquisition deals in India had slowed down after fears on US and UK anti-bribery laws threatened investment.
A second financial crisis was predicted to hit Asia in the next 12 to 18 months that originated from the US after its Federal Reserve announced stimulus reduction.
Blackberry, the leading mobile device in India, had announced selling its global operations unit but would remain business as usual to ease fears of Indian users.
Global firms had eyed on agrochemical manufacturers as agrochemical patents in India would expire by 2020.
Despite being next in line as chief executive of Infosys Ltd, Ashok Vemuri resigned from the company's board.
India's ONGC Videsh said it would increase its overseas debt to fund a USD2.64 acquisition. ONGC Videsh Ltd. is a state-backed energy explorer in India.
Private equity exits in India had doubled amid the weakened currency, unstable market capital and poor macro-economic conditions.
