Manoj's Feed
May 5, 2015

India to sign port deal with Iran, ignoring US warning against haste

NEW DELHI, May 5 (Reuters) – India will push ahead this week
with plans to build a port in southeast Iran, two sources said,
with Prime Minister Narendra Modi keen to develop trade ties
with Central Asia and prepared to fend off U.S. pressure not to
rush into any deals with Iran.

India and Iran agreed in 2003 to develop a port at Chabahar
on the Gulf of Oman, near Iran’s border with Pakistan, but the
venture has made little progress because of Western sanctions on
Iran.

Apr 30, 2015

Jaitley tries to buy peace with RBI, foreign investors

NEW DELHI (Reuters) – Finance Minister Arun Jaitley sought to placate the Reserve bank of India (RBI) and foreign investors on Thursday by putting on hold a major overhaul of financial regulation and offering tax concessions on stocks and bonds.

Jaitley’s plans, announced in the annual budget in February, would have stripped the RBI of authority to regulate the government bond market and manage public debt.

Apr 30, 2015

India’s Jaitley tries to buy peace with RBI, foreign investors

NEW DELHI, April 30 (Reuters) – Indian finance minister Arun
Jaitley sought to placate the central bank and foreign investors
on Thursday by putting on hold a major overhaul of financial
regulation and offering tax concessions on stocks and bonds.

Jaitley’s plans, announced in the annual budget in February,
would have stripped the central bank of authority to regulate
the government bond market and manage public debt.

Apr 30, 2015

India puts financial overhaul on hold after RBI pushback

NEW DELHI, April 30 (Reuters) – India on Thursday put on
hold its biggest overhaul of financial regulation in a
generation, following pushback against its plans to strip the
central bank of authority to regulate the government bond market
and manage public debt.

The climbdown, ahead of a vote in the lower house of
parliament, marks a victory for the Reserve Bank of India (RBI),
which opposed the changes, saying they would cripple it and
interfere with monetary policy.

Apr 28, 2015

Modi, Ghani pledge to fight militants, build trade

NEW DELHI (Reuters) – Afghanistan’s president called on Tuesday for regional cooperation to defeat militants, saying he wants to “make Afghanistan a graveyard of terror” but needs help from India, Pakistan and other neighbours.

Ashraf Ghani made his comments after meeting Indian Prime Minister Narendra Modi. Some Indian analysts fret that New Delhi may be losing influence in Afghanistan because of Ghani’s efforts to forge closer ties with neighbours Pakistan and China.

Apr 28, 2015

Indian, Afghan leaders pledge to fight militants, build trade

NEW DELHI (Reuters) – Afghanistan’s president called on Tuesday for regional cooperation to defeat militants, saying he wants to “make Afghanistan a graveyard of terror” but needs help from India, Pakistan and other neighbors.

Ashraf Ghani made his comments after meeting Indian Prime Minister Narendra Modi. Some Indian analysts fret that New Delhi may be losing influence in Afghanistan because of Ghani’s efforts to forge closer ties with neighbors Pakistan and China.

Apr 27, 2015

Strong rupee stings Modi’s export ambitions

NEW DELHI (Reuters) – Ajit Lakha, who runs a mid-sized garment export business in the textile hub of Ludhiana, prays daily before leaving for work that the rupee will weaken and the euro recover to cut the losses he is taking on his overseas sales.

“Perhaps God is not listening,” he says. “Only a year ago, I was getting 80 rupees for each euro on garment exports to France. Now, I am getting just 67 or 68 rupees.”

Apr 26, 2015

Strong India rupee stings Modi’s export ambitions

NEW DELHI (Reuters) – Ajit Lakha, who runs a mid-sized garment export business in the north Indian textile hub of Ludhiana, prays daily before leaving for work that the rupee will weaken and the euro recover to cut the losses he is taking on his overseas sales.

“Perhaps God is not listening,” he says. “Only a year ago, I was getting 80 rupees for each euro on garment exports to France. Now, I am getting just 67 or 68 rupees.”

Apr 17, 2015

India frets that trade gains could unravel as deficit widens

NEW DELHI (Reuters) – India’s trade deficit in March was the highest in four months, at $11.79 billion, as exports continued to fall, underscoring risks for growth prospects in Asia’s third largest economy.

A plunge in global prices of crude oil, by nearly half since last June, has slashed India’s import bill, making for a less worrisome trade deficit, despite a drop in exports in recent months.

Apr 15, 2015

India favours full rupee convertibility to become top economy

NEW DELHI, April 15 (Reuters) – India needs to move towards
full capital account convertibility to become a leading global
economy, junior finance minister Jayant Sinha said on Wednesday.

Sinha’s comments came a day after the International Monetary
Fund predicted Asia’s third-largest economy would become the
fastest growing major economy in the world, outpacing China.