Manoj's Feed
Nov 17, 2014

RBI talking to government about more gold import curbs

NEW DELHI/MUMBAI (Reuters) – The Reserve Bank of India (RBI) is in talks with the government to increase curbs on gold imports, Deputy Governor S S Mundra said on Monday, reflecting policymakers concerns that a jump in inbound shipments will worsen the country’s trade deficit.

Mundra’s comments come on the same day that trade data showed India’s gold imports in October surged nearly four-fold to $4.18 billion from a year ago. India is the world’s No. 2 gold consumer behind China.

Nov 17, 2014

India’s central bank talking to govt about more gold import curbs

NEW DELHI/MUMBAI Nov 17 (Reuters) – India’s central bank is
in talks with the government to increase curbs on gold imports,
Deputy Governor S.S. Mundra said on Monday, reflecting
policymakers concerns that a jump in inbound shipments will
worsen the country’s trade deficit.

Mundra’s comments come on the same day that trade data
showed India’s gold imports in October surged nearly four-fold
to $4.18 billion from a year ago. India is the world’s No. 2
gold consumer behind China.

Nov 13, 2014

India-U.S. deal revives WTO and hope of world trade reform

NEW DELHI/WASHINGTON/GENEVA (Reuters) – India and the United States settled a dispute on Thursday that had paralysed the World Trade Organization and risked derailing a $1 trillion (0.63 trillion pounds) package of reforms of global customs procedures.

The deal, which needs to be backed by all 160 WTO members, has resurrected hopes that the trade body can now push through those reforms, opening the way up for further negotiations.

Nov 13, 2014

India to review gold policy after surge in imports -sources

NEW DELHI/MUMBAI, Nov 13 (Reuters) – India is considering
curbs on gold imports by private trading firms after foreign
purchases surged in the past two months, two sources with direct
knowledge of the matter said.

October shipments into India, the world’s No.2 gold consumer
after China, jumped to about 150 tonnes, compared with under 25
tonnes a year earlier and 143 tonnes in September, a third
source, a top finance ministry official, said on Thursday.

Nov 13, 2014

India wins U.S. support for food scheme, ends WTO blockade

NEW DELHI/WASHINGTON, Nov 13 (Reuters) – India won U.S.
support for a massive domestic food stockpiling scheme on
Thursday, rescuing the biggest global trade deal in two decades
and giving new Prime Minister Narendra Modi a victory without
major concessions.

Under the pact with Washington, India will lift a veto on a
global agreement on streamlining customs rules that is likely to
add $1 trillion to the world economy as well as 21 million jobs,
18 million of them in developing countries.

Nov 6, 2014

Modi sell-off drive stalls, more Indian spending cuts on way

NEW DELHI (Reuters) – India will fall well short of its $9.5 billion (5.95 billion British pounds) privatisation target this year, despite a big stock market rally that has attracted foreign investors, two government sources told Reuters.

Prime Minister Narendra Modi’s ambitious selloff agenda has met resistance from labour unions and faces delays due to bureaucratic upheaval caused by a purge of the top team at the finance ministry that handles asset sales.

Nov 6, 2014

Exclusive – Modi sell-off drive stalls, more spending cuts on way

NEW DELHI (Reuters) – India will fall well short of its $9.5 billion privatisation target this year, despite a big stock market rally that has attracted foreign investors, two government sources told Reuters.

Prime Minister Narendra Modi’s ambitious selloff agenda has met resistance from labour unions and faces delays due to bureaucratic upheaval caused by a purge of the top team at the finance ministry that handles asset sales.

Nov 6, 2014

Exclusive: Modi sell-off drive stalls, more Indian spending cuts on way

NEW DELHI (Reuters) – India will fall well short of its $9.5 billion privatization target this year, despite a big stock market rally that has attracted foreign investors, two government sources told Reuters.

Prime Minister Narendra Modi’s ambitious selloff agenda has met resistance from labor unions and faces delays due to bureaucratic upheaval caused by a purge of the top team at the finance ministry that handles asset sales.

Nov 5, 2014

Insight – For India, China-backed lender may be answer to coal investment

NEW DELHI/SEOUL (Reuters) – India is hoping a new China-backed multilateral lender will fund coal-based energy projects, an official said, putting it in direct conflict with the World Bank, whose chief has maintained that it would stick to its restrictions on such lending.

A senior Indian official told Reuters the Asian Infrastructure Investment Bank (AIIB), sponsored by China, is expected to allow funding of coal-fired power plants that the World Bank has almost totally blocked.

Nov 5, 2014

For India, China-backed lender may be answer to coal investment

NEW DELHI/SEOUL, Nov 6 (Reuters) – India is hoping a new
China-backed multilateral lender will fund coal-based energy
projects, an official said, putting it in direct conflict with
the World Bank, whose chief has maintained that it would stick
to its restrictions on such lending.

A senior Indian official told Reuters the Asian
Infrastructure Investment Bank (AIIB), sponsored by China, is
expected to allow funding of coal-fired power plants that the
World Bank has almost totally blocked.