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Sep 13, 2013

Modi crowned as BJP’s prime ministerial candidate

NEW DELHI (Reuters) – Hindu nationalist Narendra Modi was crowned as the candidate for prime minister of India’s main opposition Bharatiya Janata Party (BJP) on Friday, cementing the remarkable rise of a leader adored by business but tainted by deadly religious riots that broke out on his watch.

On a path that from humble roots as the son of a tea-shop owner to running for leadership of the world’s biggest democracy, Modi has methodically built a fervent fan base.

Sep 13, 2013

India’s Modi crowned as opposition prime minister candidate

NEW DELHI (Reuters) – Hindu nationalist Narendra Modi was crowned as the candidate for prime minister of India’s main opposition party on Friday, cementing the remarkable rise of a leader adored by business but tainted by deadly religious riots that broke out on his watch.

On a path that from humble roots as the son of a tea-shop owner to running for leadership of the world’s biggest democracy, Modi has methodically built a fervent fan base.

Sep 9, 2013

Insight: Killing the goose: Why Indian exports need more than a cheap rupee

NEW DELHI (Reuters) – The upside of the Indian rupee’s slump is an export boom that sets the economy straight, right? Wrong.

Prime Minister Manmohan Singh echoed classical economic theory when he told parliament last month that the plunging rupee, which has lost 18 percent against the dollar since selling pressure picked up in May, would spur exports and discourage imports.

Sep 9, 2013

Killing the goose: Why Indian exports need more than a cheap rupee

NEW DELHI, Sept 10 (Reuters) – The upside of the Indian
rupee’s slump is an export boom that sets the economy straight,
right? Wrong.

Prime Minister Manmohan Singh echoed classical economic
theory when he told parliament last month that the
plunging rupee, which has lost 18 percent against the dollar
since selling pressure picked up in May, would spur exports and
discourage imports.

Aug 30, 2013

Singh fights for ‘reformer’ legacy as economy totters

NEW DELHI (Reuters) – Prime Minister Manmohan Singh fought for his reputation as the architect of India’s economic reforms on Friday, insisting that the current growth and currency crunch was no repeat of the 1991 balance of payments crisis that made him a household name.

An economist by training, Singh’s long political career has been book-ended by crises.

Aug 30, 2013

India’s Singh fights for “reformer” legacy as economy totters

NEW DELHI, Aug 30 (Reuters) – Prime Minister Manmohan Singh
fought for his reputation as the architect of India’s economic
reforms on Friday, insisting that the current growth and
currency crunch was no repeat of the 1991 balance of payments
crisis that made him a household name.

An economist by training, Singh’s long political career has
been book-ended by crises.

Aug 30, 2013

Indian PM Singh says economy can weather rupee storm

NEW DELHI/MUMBAI (Reuters) – India’s prime minister sought to quell talk of currency crisis on Friday, after the rupee plumbed record lows as it notched its biggest ever monthly fall, but there was no word of sweeping reforms needed to restore investor confidence.

Weak economic growth, a record high current account deficit and concerns about the government’s finances are proving a toxic mix for the rupee, which hit a record low of 68.85 to the dollar on Wednesday after falling 20 percent since May.

Aug 30, 2013

Indian Prime Minister Singh says economy can weather rupee storm

NEW DELHI/MUMBAI (Reuters) – India’s prime minister sought to quell talk of currency crisis on Friday, after the rupee plumbed record lows as it notched its biggest ever monthly fall, but there was no word of sweeping reforms needed to restore investor confidence.

Weak economic growth, a record high current account deficit and concerns about the government’s finances are proving a toxic mix for the rupee, which hit a record low of 68.85 to the dollar on Wednesday after falling 20 percent since May.

Aug 30, 2013

PM Singh highlights bright side of crashing rupee

NEW DELHI (Reuters) – Prime Minister Manmohan Singh sought to soothe worries about the economy on Friday, telling parliament that the crashing value of the rupee was part of a needed adjustment that would make Asia’s third-largest economy more competitive.

The speech was the veteran economist’s first substantial comment to parliament since the rupee suffered its steepest ever monthly fall in recent weeks, bringing back memories of a 1991 balance of payments crisis that made Singh famous.

Aug 30, 2013

India’s Singh highlights bright side of crashing rupee

NEW DELHI (Reuters) – Prime Minister Manmohan Singh sought to soothe worries about the Indian economy on Friday, telling parliament that the crashing value of the rupee was part of a needed adjustment that would make Asia’s third-largest economy more competitive.

The speech was the veteran economist’s first substantial comment to parliament since the rupee suffered its steepest ever monthly fall in recent weeks, bringing back memories of a 1991 balance of payments crisis that made Singh famous.