MUMBAI (Reuters) – Teenage girls pose for pictures beside the latest arrival in Mumbai’s modern Phoenix Mills mall — a gold ATM machine selling jewellery and $600 gold coins — but for more than just window-shopping, it faces stiff competition from traditional stores.

India’s first such machine may be grabbing the attention of passers-by in the world’s biggest bullion market, but upstairs in an air-conditioned store, the sparkling gold and silver bangles offered by smiling sales assistants have customers grabbing their credit cards.

MUMBAI (Reuters) – Teenage girls pose for pictures beside the latest arrival in Mumbai’s modern Phoenix Mills mall — a gold ATM machine selling jewellery and $600 gold coins — but for more than just window-shopping, it faces stiff competition from traditional stores.

India’s first such machine may be grabbing the attention of passers-by in the world’s biggest bullion market, but upstairs in an air-conditioned store, the sparkling gold and silver bangles offered by smiling sales assistants have customers grabbing their credit cards.

MUMBAI, Dec 2 (Reuters) – Teenage girls pose for
pictures beside the latest arrival in Mumbai’s modern Phoenix
Mills mall — a gold ATM machine selling jewellery and $600 gold
coins — but for more than just window-shopping, it faces stiff
competition from traditional stores.

India’s first such machine may be grabbing the attention of
passers-by in the world’s biggest bullion market, but upstairs
in an air-conditioned store, the sparkling gold and silver
bangles offered by smiling sales assistants have customers
grabbing their credit cards.

MUMBAI (Reuters) – The BSE Sensex closed a choppy Wednesday session 0.7 percent higher, reversing early losses as second-quarter growth met forecast, with Reliance Industries (RELI.NS: Quote, Profile, Research) leading the gains, while gloomy global economic conditions continued to weigh.

Dragged down by turmoil overseas, rampant inflation and a series of interest rate hikes by Asia’s most hawkish central bank, data on Wednesday showed India’s economy grew 6.9 percent in the last quarter, its slowest rate in more than two years.

MUMBAI, Nov 30 (Reuters) – Indian shares closed a
choppy Wednesday session 0.7 percent higher, reversing early
losses as second-quarter growth met forecast, with Reliance
Industries leading the gains, while gloomy global
economic conditions continued to weigh.

Dragged down by turmoil overseas, rampant inflation and a
series of interest rate hikes by Asia’s most hawkish central
bank, data on Wednesday showed India’s economy grew
6.9 percent in the last quarter, its slowest rate in more than
two years.

MUMBAI, Nov 27 (Reuters) – Seven years ago, when
India’s Future Group retail giant sent shipments from Mumbai on
the country’s west coast to Kolkata in the north-east, the
products took 10 nervous days to arrive.

“You sent the goods, and until you received them, you just
prayed,” said Anshuman Singh, managing director and chief
executive officer of Future Supply Chains. “There was just a
black hole until they finally reached the destination.”

MUMBAI, Nov 26 (Reuters) – The days when Mumbai’s
Parsi community dominated a city they helped to build may have
faded, but the rise of Cyrus Mistry to the helm of the Tata
Group reinforces the clout it wields in some of India’s biggest
conglomerates.

Mistry’s selection as chairman-designate of India’s biggest
corporate house keeps the group close to the founding Tata
family as he is a member through the marriage of his sister. The
choice also keeps the business in the hands of the close-knit
community which is as old as the city itself.

MUMBAI (Reuters) – Shares in Indian retailers jumped on Friday after the government opened up the $450 billion supermarket sector to global giants, but concerns emerged that caveats aimed at appeasing political opposition could hinder an expected flurry of investments.

The government on Thursday approved 51 percent foreign direct investment in the supermarket sector, paving the entry of firms such as Wal-Mart, Tesco and Carrefour into one of the world’s largest untapped markets.

MUMBAI, Nov 25 (Reuters) – Shares in Indian retailers
jumped on Friday after the government opened up the $450 billion
supermarket sector to global giants, but concerns emerged that
caveats aimed at appeasing political opposition could hinder an
expected flurry of investments.

The government on Thursday approved 51 percent foreign
direct investment in the supermarket sector, paving the entry of
firms such as Wal-Mart, Tesco and Carrefour
into one of the world’s largest untapped markets.

NEW DELHI/MUMBAI (Reuters) – Foreign supermarket giants eyeing India may see rich pickings at New Delhi markets like Karol Bagh, where shoppers must negotiate a plethora of dubious-looking power lines, stinking rubbish piled high on sidewalks and cars parked three deep.

There is money in the narrow and clogged streets here, part of India’s $450 billion retail sector that ranks as one of the last frontier markets unpenetrated by global retailers.