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Jan 21, 2013

Govt raises gold import tax, unlikely to deter buyers

NEW DELHI/MUMBAI (Reuters) – The government has raised the import tax on gold by 2 percentage points to 6 percent to curb purchases and rein in a ballooning fiscal deficit but industry officials expect only a moderate drop in demand.

India’s passion for gold, seen by many as a hedge against persistently high inflation, has led to a rise in its current account deficit, which reached an all-time high of 5.4 percent of gross domestic product in the July-September quarter.

Jan 15, 2013
via India Insight

In southern Delhi, a slum lives in fear and uncertainty

Photo

(Any opinions expressed here are those of the author, and not necessarily of Thomson Reuters)

Raju Saini appears fidgety and nervous as he talks about his cousin. He speaks matter-of-factly, but there is a hint of caution in his voice, as if he is wary of what we might think about him and the place where he lives. Fifteen minutes into the conversation, he says what has been on his mind.

Jan 13, 2013

India, Pakistan soldiers to talk on Kashmir violence

NEW DELHI/JAMMU, India (Reuters) – Military officials from India and Pakistan will hold talks on Monday at the Line of Control, which divides disputed Kashmir, in a bid to defuse tensions after a series of deadly attacks in the region, Indian army officials said.

Four soldiers were killed last week in the worst outbreak of violence in Kashmir since the nuclear-armed neighbours agreed a ceasefire nearly a decade ago.

Jan 13, 2013

Indian, Pakistan soldiers to hold talks on rising Kashmir violence

NEW DELHI/JAMMU, India (Reuters) – Military officials from India and Pakistan will hold talks on Monday at the Line of Control, which divides disputed Kashmir, in a bid to defuse tensions after a series of deadly attacks in the region, Indian army officials said.

Four soldiers were killed last week in the worst outbreak of violence in Kashmir since the nuclear-armed neighbours agreed a ceasefire nearly a decade ago.

Jan 12, 2013

Delhi rape accused lived on margins of India’s boom

BADAUN, India/NEW DELHI (Reuters) – In a village in India’s Uttar Pradesh state, a woman sits hunched on the ground in a green shawl, visibly weak and shivering in the January cold. She says she has not eaten for days, and neither have her five young children.

She has never heard of Manmohan Singh, India’s prime minister, having never ventured further from her village than a nearby market town, and ekes out a living working in potato fields on other people’s land.

Dec 26, 2012

India offers incentives to revive merchandise exports

NEW DELHI (Reuters) – India announced incentives to revive growth in exports on Wednesday as it looks to narrow a trade deficit that has put the country’s current account balance and currency under pressure.

As part of the package, the government extended a 2-percentage-point interest subsidy on rupee-denominated export loans for labour-intensive and small-scale industries by one year to the end of March 2014 to cushion the impact of weak demand in developed economies.

Dec 24, 2012

Factbox: Russia and India’s defense ties

NEW DELHI (Reuters) – India plans to spend about $100 billion over the next 10 years to upgrade its largely Soviet-era military equipment, as Asia’s third-largest economy looks to match its growing economic clout with military power.

Since the break-up of the Soviet Union, India, one of the world’s largest arms importers, has shifted towards buying from the West as Russian products were plagued by delivery delays, maintenance problems and a lack of spare parts.

Dec 24, 2012

Russia and India’s defence ties

NEW DELHI (Reuters) – India plans to spend about $100 billion over the next 10 years to upgrade its largely Soviet-era military equipment, as Asia’s third-largest economy looks to match its growing economic clout with military power.

Since the break-up of the Soviet Union, India, one of the world’s largest arms importers, has shifted towards buying from the West as Russian products were plagued by delivery delays, maintenance problems and a lack of spare parts.

Dec 24, 2012

Government clamps down on gang-rape protests, PM appeals for calm

NEW DELHI (Reuters) – Authorities throttled movement in the heart of the capital on Monday, shutting roads and railway stations in a bid to restore law and order after police fought pitched battles with protesters enraged by the gang rape of a young woman.

In an unusual televised address, Prime Minister Manmohan Singh called for calm following the weekend clashes in New Delhi and vowed to punish the rapists for their “monstrous” crime.

Dec 24, 2012

India clamps down on gang-rape protests, prime minister appeals for calm

NEW DELHI (Reuters) – Indian authorities throttled movement in the heart of the capital on Monday, shutting roads and railway stations in a bid to restore law and order after police fought pitched battles with protesters enraged by the gang rape of a young woman.

In an unusual televised address, Prime Minister Manmohan Singh called for calm following the weekend clashes in New Delhi and vowed to punish the rapists for their “monstrous” crime.

    • About Arup

      "I cover India's economic policies, and the people behind them, out of New Delhi. I also write on defence matters affecting the world's largest arms importer and contribute to the political and general file. I started my career with the Reuters Bangalore bureau in 2008."
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