Correspondent, New Delhi
Anurag's Feed
Nov 19, 2013

India set to cancel deal with AgustaWestland: sources

NEW DELHI (Reuters) – India has decided to cancel a scandal-tainted chopper deal with Anglo-Italian firm AgustaWestland, prejudging the outcome of a meeting on Wednesday between company executives and Defence Ministry officials to discuss the contract, three sources said.

The decision draws a line under a dispute that has embarrassed a government heading into elections under a cloud of corruption scandals, and could re-open the contract to rivals, including United Technologies Corp’s(UTX.N: Quote, Profile, Research) Sikorsky Aircraft, EADS’(EAD.PA: Quote, Profile, Research) Eurocopter and Lockheed Martin(LMT.N: Quote, Profile, Research).

Nov 19, 2013

India set to cancel scandal-hit AgustaWestland chopper deal: sources

NEW DELHI (Reuters) – India has decided to cancel a scandal-tainted chopper deal with Anglo-Italian firm AgustaWestland, prejudging the outcome of a meeting on Wednesday between company executives and Defense Ministry officials to discuss the contract, three sources said.

The decision draws a line under a dispute that has embarrassed a government heading into elections under a cloud of corruption scandals, and could re-open the contract to rivals, including United Technologies Corp’s (UTX.N: Quote, Profile, Research, Stock Buzz) Sikorsky Aircraft, EADS’ (EAD.PA: Quote, Profile, Research, Stock Buzz) Eurocopter and Lockheed Martin (LMT.N: Quote, Profile, Research, Stock Buzz).

Oct 9, 2013

Ministry row latest blow to defence modernisation

NEW DELHI (Reuters) – A plan to attract private Indian firms to help build military aircraft could be delayed after Heavy Industries Minister Praful Patel said the proposal was unfair to state-run companies.

India has emerged as the world’s biggest arms importer as it tries to update archaic weapons systems to keep up with neighbours China and Pakistan in a $100 billion modernisation drive.

Oct 9, 2013

Ministry row latest blow to India’s defence modernisation

NEW DELHI, Oct 9 (Reuters) – A plan to attract private
Indian firms to help build military aircraft could be delayed
after a cabinet minister said the proposal was unfair to
state-run companies.

India has emerged as the world’s biggest arms importer as it
tries to update archaic weapons systems to keep up with
neighbours China and Pakistan in a $100 billion modernisation
drive.

Oct 9, 2013

Sharply lower Sept trade gap bright spot for economy

NEW DELHI (Reuters) – India’s trade deficit narrowed to a two-and-a-half-year low in September, raising hopes for a significant reduction in the country’s gaping current account deficit, which helped send the rupee to record lows in recent months.

India’s trade deficit narrowed to $6.7 billion last month, compared with $10.9 billion in August and the lowest since March 2011, the trade ministry said.

Oct 9, 2013

Sharply lower Sept trade gap bright spot for India’s ailing economy

NEW DELHI, Oct 9 (Reuters) – India’s trade deficit narrowed
to a two-and-a-half-year low in September, raising hopes for a
significant reduction in the country’s gaping current account
deficit, which helped send the rupee to record lows in recent
months.

India’s trade deficit narrowed to $6.7 billion
last month, compared with $10.9 billion in August and the lowest
since March 2011, the trade ministry said.

Oct 4, 2013

Exclusive: AgustaWestland invokes arbitration over chopper deal

NEW DELHI (Reuters) – AgustaWestland has invoked arbitration over a scandal-tainted deal to sell helicopters to the government, according to a statement on Friday from the unit of Italy’s Finmeccanica (SIFI.MI: Quote, Profile, Research).

In February, India froze payments on the 560 million euro contract to supply 12 helicopters after the deal became mired in allegations of bribery and the then-CEO of Finmeccanica was arrested by Italian police for allegedly paying bribes to secure the deal.

Oct 4, 2013

Exclusive: AgustaWestland invokes arbitration over India chopper deal

NEW DELHI (Reuters) – AgustaWestland has invoked arbitration over a scandal-tainted deal to sell helicopters to the Indian government, according to a statement on Friday from the unit of Italy’s Finmeccanica (SIFI.MI: Quote, Profile, Research, Stock Buzz).

In February, India froze payments on the 560 million euro ($762.91 million) contract to supply 12 helicopters after the deal became mired in allegations of bribery and the then-CEO of Finmeccanica was arrested by Italian police for allegedly paying bribes to secure the deal.

Oct 4, 2013

AgustaWestland invokes arbitration over India chopper deal

NEW DELHI, Oct 4 (Reuters) – AgustaWestland has invoked
arbitration over a scandal-tainted deal to sell helicopters to
the Indian government, according to a statement on Friday from
the unit of Italy’s Finmeccanica.

In February, India froze payments on the 560 million euro
($762.91 million) contract to supply 12 helicopters after the
deal became mired in allegations of bribery and the then-CEO of
Finmeccanica was arrested by Italian police for allegedly paying
bribes to secure the deal.

Sep 25, 2013

Leaders of India, Pakistan to meet in New York as Kashmir simmers

NEW DELHI (Reuters) – Indian Prime Minister Manmohan Singh and Pakistan’s Nawaz Sharif will meet this week on the sidelines of the United Nations General Assembly, Singh said on Wednesday, amid heightened tension between the neighbors over Kashmir.

Analysts expect the meeting will address a series of fatal clashes along the Line of Control dividing the Himalayan region between India and Pakistan, events that followed a pact by the two nations to resume stalled talks to strengthen ties.

    • About Anurag

      "Anurag covers money, politics and general news based in New Delhi. He joined Reuters in 2008 in Bangalore and covered U.S.-based companies for a little over two years. In the Indian capital, he covered the dynamic Indian aviation industry before moving to his current role. Born and brought up in the beautiful town of Jorhat in Assam, Anurag loves cricket, Bollywood and is a social media addict. When he’s not chasing high-flying CEOs and bureaucrats, Anurag likes to unwind with films and Assamese poetry."
      Hometown:
      Jorhat
      Joined Reuters:
      2008
    • Contact Anurag

      Phone:
      +91 11 4178 1024
    • Follow Anurag