Manoj's Feed
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.

Apr 13, 2015

China’s influence over AIIB a concern ahead of founders’ meeting

TOKYO/NEW DELHI, April 13 (Reuters) – China could have
outsized influence over a new Beijing-backed international
development bank under a proposed shareholding structure likely
to be discussed at a meeting of member nations in Washington
this week, sources say.

The group will meet on the sidelines of the annual meetings
of the International Monetary Fund and World Bank in the U.S.
capital, said an Indian government official familiar with the
plan. India was one of the first nations to join the new bank.

Apr 13, 2015

March consumer inflation likely edged up for fourth month

NEW DELHI (Reuters) – India’s consumer inflation probably edged up in March for the fourth straight month from a record low in November, as heavy rains drove up food prices, giving the central bank pause for thought as it waits for the next chance to cut interest rates.

Consumer prices likely rose to 5.5 percent in March from a year earlier compared with February’s 5.37 percent, according to a Reuters’ poll of economists. The data was due to be released at 1200 GMT.

Apr 2, 2015

India may delay oil company share sales, threatening fund-raising target

NEW DELHI (Reuters) – India is likely to delay share sales in state-run oil firms ONGC and Indian Oil Corp by up to six months as low crude oil prices have hit their value, denting the chances of raising about $11 billion from such sales this financial year, two government sources said.

The government hopes to sell shares in these companies to raise nearly $3.5 billion, roughly one-third of the total annual share-sales target of about $11 billion, which is crucial to meet a fiscal deficit target of 3.9 percent of GDP in the 2015/16 fiscal year that started on April 1.

Apr 1, 2015

India says will shake up trade tariffs to compete globally

NEW DELHI (Reuters) – India plans to pull its tariff regime closer in line with global norms to prepare for new regional trade pacts being negotiated by advanced economies, the government said on Wednesday.

India has not been invited to join pacts such as the U.S.-led 12 country Trans-Pacific Partnership (TPP) and is “not in a position to join,” partly because its tariffs are not competitive, a top official said at the unveiling of a new five year trade policy.