India has every chance of becoming an export powerhouse, Prime Minister Narendra Modi’s top economic adviser Arvind Panagariya told Reuters, despite an ill wind blowing from China that has hurt the ability of Asia’s third-largest economy to compete.
The Reserve Bank of India kept interest rates unchanged in its bi-monthly review on Tuesday, waiting to assess inflationary pressures and giving banks time to reflect on the central bank’s previous cuts in lending rates.
By Aditya Karla and Sankalp Phartiyal
The BSE Sensex ended 2013 with gains of 9 percent after hitting life highs during the year. The benchmark index touched an all-time high of 21,483.74 on Dec. 9 after falling to a 2013 low of 17,448.71 in August.
The BSE Sensex rose 3 percent during the week, ending in the green for four of the five trading sessions. Improved guidance from Infosys, hopes of a U.S. deal to avoid a default on its debt and the RBI’s decision to cut a key overnight interest rate helped sentiment.
By Ankush Arora and Sankalp Phartiyal
The BSE Sensex rose 2.7 percent in the week ending September 20, as foreign inflows and the U.S. Federal Reserve’s surprise decision to continue with its bond-buying programme boosted market sentiment.
September is turning out to be a good month for Indian shares, as key stock indexes extended gains in the last four sessions. Monday was a market holiday.
When Aparupa Ganguly visited South Africa in 2007, the country’s topography and wildlife made such an impression on the communications professional that she couldn’t wait to come back. Ganguly got her wish six years later – thanks to a stable rand.
By Sankalp Phartiyal and Ankush Arora
The BSE Sensex recovered on Thursday and Friday after the index lost around 700 points in the first three trading sessions of the week. However, the index still ended down 0.4 percent as a weak rupee, concerns over foreign flows and uncertainty over the end of the U.S. Fed’s stimulus plan kept investors on the edge.
India on Monday imposed a 36 percent duty on flat-screen televisions that travellers bring back from other countries, seen as another step to support a falling rupee. The move, however, will do little to help the economy but will cheer television manufacturers in India and hit grey markets, experts said.