Chief Correspondent, Commodities, India
Krishna's Feed
Feb 28, 2015

India to launch gold accounts, keep import duty at record high

MUMBAI/NEW DELHI, Feb 28 (Reuters) – India will introduce
gold deposit accounts to utilise the 20,000 tonnes available
within the country and launch a sovereign gold bond, the finance
minister said on Saturday, but kept the import duty at the
record 10 percent in a setback for jewellers.

In moving towards recycling of gold held in households and
temple trusts for years, Arun Jaitley signalled the government’s
intent to cut shipments into the world’s top consumer of the
metal. Massive gold imports often skew India’s trade balance.

Feb 27, 2015

Monsanto says GM corn trial in final stage in India

NEW DELHI (Reuters) – Monsanto’s Indian subsidiary expects to submit final trial results for its genetically modified (GM) corn to lawmakers within a year for the government to then decide on a commercial launch, the company’s country head said on Friday.

India does not currently allow the growing of GM food crops but the government of Prime Minister Narendra Modi, keen to improve farms’ productivity, has encouraged open field trials after a five-year de facto ban.

Feb 24, 2015

India seizes record haul of smuggled gold outside airport

MUMBAI/NEW DELHI (Reuters) – Indian police said they had made the single biggest seizure of gold smuggled into the country on Tuesday after arresting six people leaving an airport with 60 kg of the precious metal flown in from Dubai.

The arrest is likely to strengthen pressure on Finance Minister Arun Jaitley to cut the gold import duty from a record-high 10 percent in his budget on Saturday.

Feb 22, 2015

Modi bets on GM crops for second green revolution

NEW DELHI (Reuters) – On a fenced plot not far from Prime Minister Narendra Modi’s home, a field of mustard is in full yellow bloom, representing his government’s reversal of an effective ban on field trials of genetically modified (GM) food crops.

The GM mustard planted in the half-acre field in the grounds of the Indian Agricultural Research Institute in New Delhi is in the final stage of trials before the variety is allowed to be sold commercially, and that could come within two years, scientists associated with the project say.

Feb 22, 2015

Insight – Modi bets on GM crops for India’s second green revolution

NEW DELHI (Reuters) – On a fenced plot not far from Indian Prime Minister Narendra Modi’s home, a field of mustard is in full yellow bloom, representing his government’s reversal of an effective ban on field trials of genetically modified (GM) food crops.

The GM mustard planted in the half-acre field in the grounds of the Indian Agricultural Research Institute in New Delhi is in the final stage of trials before the variety is allowed to be sold commercially, and that could come within two years, scientists associated with the project say.

Feb 22, 2015

Modi bets on GM crops for India’s second green revolution

NEW DELHI, Feb 22 (Reuters) – On a fenced plot not far from
Indian Prime Minister Narendra Modi’s home, a field of mustard
is in full yellow bloom, representing his government’s reversal
of an effective ban on field trials of genetically modified (GM)
food crops.

The GM mustard planted in the half-acre field in the grounds
of the Indian Agricultural Research Institute in New Delhi is in
the final stage of trials before the variety is allowed to be
sold commercially, and that could come within two years,
scientists associated with the project say.

Feb 19, 2015

Coal block auctions in India see aggressive bidding

NEW DELHI (Reuters) – Indian metal and cement companies have bid aggressively for coal blocks in the country’s first auctions to sell mines as they look to cut imports and their dependence on inefficient government monopoly Coal India Ltd (COAL.NS: Quote, Profile, Research).

The auction follows a court cancellation of all previous licences and the initial bidding suggests companies are keen to secure supplies as the economy improves.

Feb 19, 2015

Indian coal block auctions see aggressive bidding on supply concerns

NEW DELHI, Feb 19 (Reuters) – Indian metal and cement
companies have bid aggressively for coal blocks in the country’s
first auctions to sell mines as they look to cut imports and
their dependence on inefficient government monopoly Coal India
Ltd.

The auction follows a court cancellation of all previous
licences and the initial bidding suggests companies are keen to
secure supplies as the economy improves.

Feb 6, 2015

Companies set to back huge India solar expansion

NEW DELHI (Reuters) – India could start installing 20,000 megawatts of solar power capacity as early as April after companies pledged to support the government’s drive for clean energy, an official told Reuters.

Details of the plan, which has drawn commitments from U.S., German and Chinese companies, will be announced on Friday, said Upendra Tripathy, secretary of the Ministry of New and Renewable Energy.

Feb 5, 2015

South Korea’s POSCO faces another setback in India

NEW DELHI/BHUBANESWAR, India (Reuters) – South Korea’s POSCO (005490.KS: Quote, Profile, Research) will have to bid for an iron ore licence to feed its planned $12 billion steel plant in India, a minister said, in a setback for the company that was expecting the government to allocate it a mine without any competition.

The project to be set up by the world’s sixth-largest steelmaker has been caught up in a regulatory maze for the past decade, but the company had waited in the hope of getting preferential access to iron ore in Odisha.

    • 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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