India’s automobile sector may have been dented by negative sales for two straight years, but the Society of Indian Automobile Manufacturers (SIAM) is hoping to see an uptick in sales this fiscal year.
The new government will pursue an economic reform agenda that foresees introducing the goods and services tax, encouraging foreign investment and speeding approvals for major business projects, President Pranab Mukherjee said in a parliamentary address on Monday.
India’s diversified equity funds outperformed the broader markets in May and recorded their best monthly performance in five years, as stocks rallied on hopes of an economic revival after the Narendra Modi-led Bharatiya Janata Party (BJP) won a decisive election mandate.
A busy street in Asia’s largest slum Dharavi leads to a quiet lane where Anita Leathers operates its colouring unit. As children play near shops that sell everything from mobile phones and garments to raw meat and sweets, the mood at the leather unit is sombre.
A bad monsoon in India is the one that fails to deliver enough rain … most of the time. This year, a lack of rainclouds could be the silver lining that the government needs. India has no place left to store more grain, and can ill afford a hefty payout to farmers for the truckloads of produce that another monsoon could produce.
(Any opinions expressed here are not those of Thomson Reuters)
Aam Aadmi Party’s Ashutosh might have been a TV news host, but now he talks like an experienced politician. “I am enjoying” being on the other side of the microphone, the former managing editor of Hindi news channel IBN7 told India Insight during an interview in which he discussed his decision to stand for Parliament.
One would expect the former head of India’s No. 1 car maker to drive a glitzy new SUV or an imported luxury car, but Jagdish Khattar thinks differently. The industry veteran who spent 14 years at Maruti Suzuki now buys only second-hand cars and drives a used Volkswagen Passat.
By John Chalmers, Frank Jack Daniel and Manoj Kumar
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The Indian government will have to rein in spending and cut subsidies to meet its fiscal deficit target, Finance Minister P. Chidambaram said on Monday, underlining that an austerity drive will not be blown off course by an election due next year.