Chief Correspondent, Commodities, India
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Apr 16, 2015

Modi’s coal turnaround to ease chronic power cuts

NEW DELHI (Reuters) – Fewer power cuts are likely in India this summer after a surge in output at Coal India (COAL.NS: Quote, Profile, Research) helped generators amass record stocks, a turnaround for Narendra Modi who had to battle a power crisis within months of becoming prime minister last May.

Fast-track mine approvals, tighter production oversight and more flexibility in coal sales have helped power station stocks recover from a six-year low hit in October, vindicating Modi’s pitch to voters as the state leader who brought round-the-clock power to industrial Gujarat.

Apr 15, 2015

Modi’s coal turnaround to ease India’s chronic power cuts

NEW DELHI (Reuters) – Fewer power cuts are likely in India this summer after a surge in output at Coal India helped generators amass record stocks, a turnaround for Narendra Modi who had to battle a power crisis within months of becoming prime minister last May.

Fast-track mine approvals, tighter production oversight and more flexibility in coal sales have helped power station stocks recover from a six-year low hit in October, vindicating Modi’s pitch to voters as the state leader who brought round-the-clock power to industrial Gujarat.

Apr 9, 2015

India’s rich temples may open gold vaults for PM Modi

MUMBAI/NEW DELHI (Reuters) – The two-century-old Shree Siddhivinayak temple in Mumbai devoted to the Hindu elephant-headed god Ganesha bristles with close circuit cameras and is guarded by 65 security officers.

It is one of India’s richest temples, having amassed 158 kg of gold offerings, worth some $67 million, and its heavily guarded vaults are strictly off limits.

Mar 30, 2015

Modi government says to push for cow slaughter ban in India

NEW DELHI (Reuters) – India will use all its “might” to ban cow slaughter across the country, interior minister Rajnath Singh said in a speech to spiritual leaders, as the Hindu nationalist government moves to fulfill a poll promise of Prime Minister Narendra Modi.

A renewed thrust by Modi’s Bharatiya Janata Party (BJP) to protect cows, worshipped by majority Hindus, has led to a clamp down on beef trade run mostly by Muslims.

Mar 30, 2015

Modi govt says to push for cow slaughter ban in India

NEW DELHI (Reuters) – India will use all its “might” to ban cow slaughter across the country, interior minister Rajnath Singh said in a speech to spiritual leaders, as the Hindu nationalist government moves to fulfil a poll promise of Prime Minister Narendra Modi.

A renewed thrust by Modi’s Bharatiya Janata Party (BJP) to protect cows, worshipped by majority Hindus, has led to a clamp down on beef trade run mostly by Muslims.

Mar 24, 2015

India’s coal imports to jump 19 percent to 200 million tonnes in 2014/15

NEW DELHI, March 24 (Reuters) – India’s coal imports are
expected to jump 19 percent to a record of about 200 million
tonnes this fiscal year, Coal Secretary Anil Swarup told
Reuters, as power companies add capacity to meet rising demand
even as millions go without electricity.

Shipments into the world’s third-largest coal importer are,
however, likely to slide back to about 160 million tonnes next
year starting April 1 as state-run Coal India Ltd and
private companies ramp up output, Swarup said on Tuesday.

Mar 18, 2015

Smuggled gold seizures jump as duty stays high

NEW DELHI (Reuters) – Seizures of gold smuggled into India have surged, data showed on Wednesday, as the government tries to crack down on a thriving illegal trade made profitable by high import duty and other restrictions.

Trade Minister Nirmala Sitharaman told lawmakers on Wednesday the number of gold seizures in first 10 months of the 2014/15 fiscal year to the end of January had jumped to 3,412 from 2,450 for the whole of the previous year.

Mar 18, 2015

India’s smuggled gold seizures jump as duty stays high

NEW DELHI, March 18 (Reuters) – Seizures of gold smuggled
into India have surged, data showed on Wednesday, as the
government tries to crack down on a thriving illegal trade made
profitable by high import duty and other restrictions.

India’s Trade Minister Nirmala Sitharaman told lawmakers on
Wednesday the number of gold seizures in first 10 months of the
2014/15 fiscal year to the end of January had jumped to 3,412
from 2,450 for the whole of the previous year.

Mar 17, 2015

Investors fret as India defends reopening coal mine bids

NEW DELHI (Reuters) – The coal ministry said it will decide this week the fate of nine winning mine bids it is re-examining to rule out any price discrepancies, despite criticism that its move to reopen some of the tenders will hurt business sentiment.

The government, which last month started auctioning off coal mine sites after the Supreme Court said a previous method of awarding concessions was illegal, is re-examining “outlier” bids for the 33 mines auctioned so far, Coal Secretary Anil Swarup said.

Mar 16, 2015

Jewellers threaten strike over ‘black money’ tax plan

NEW DELHI (Reuters) – Indian jewellers threatened on Monday to go on strike over a government plan that would require customers to quote their tax code for major purchases as part of a clampdown on the black economy.

Jewellers say about 80 percent of the $122 billion industry’s business comes from rural customers, mainly in the agriculture sector, who lack a so-called permanent account number (PAN), which is used to prevent tax evasion.

    • About Krishna

      "I lead the India commodities team for Reuters in New Delhi. I cover the coal, metals and mining industries with a focus on government policy. Before coming to the capital in April 2013, I headed two teams of reporters covering small-and-medium-sized U.S./Canada-listed energy and resources companies."
      Joined Reuters:
      August, 2009
      Languages:
      Assamese
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