Chief correspondent, India
Ross's Feed
Jun 1, 2012

Slowdown in foreign trade compounds economic woes

NEW DELHI (Reuters) – Indian export data released on Friday confirmed a sharp slowdown in foreign trade, adding to the woes of Asia’s third-largest economy and piling more pressure on the weak coalition government to take steps to boost economic growth.

Indian exports inched up 3.23 percent to $24.5 billion in April from a year earlier after falling in March, a far cry from the more than 20 percent growth recorded in recent years. India has been hit by falling demand from its traditional export markets in the United States and Europe.

Jun 1, 2012

Slowdown in India’s foreign trade compounds economic woes

NEW DELHI, June 1 (Reuters) – Indian export data released on
Friday confirmed a sharp slowdown in foreign trade, adding to
the woes of Asia’s third-largest economy and piling more
pressure on the weak coalition government to take steps to boost
economic growth.

Indian exports inched up 3.23 percent to $24.5 billion in
April from a year earlier after falling in March, a far cry from
the more than 20 percent growth recorded in recent years. India
has been hit by falling demand from its traditional export
markets in the United States and Europe.

May 31, 2012

March-qtr GDP growth at 5.3 pct, weakest in 9 years

NEW DELHI (Reuters) – India’s economic growth slumped to its lowest level in nine years in the first three months of 2012, marking a dramatic slide in the fortunes of a country whose economy boasted nearly double-digit growth before the global recession.

“Urgent and bold steps are immediately needed to prevent the economy from descending into a full blown crisis. This must be averted at all costs,” said Rajiv Kumar, secretary-general of the Federation of Indian Chambers of Commerce and Industry.

May 31, 2012

Indian growth weakest in 9 years as rupee slides

NEW DELHI, May 31 (Reuters) – India’s economic growth
slumped to its lowest level in nine years in the first three
months of 2012, marking a dramatic slide in the fortunes of a
country whose economy boasted nearly double-digit growth before
the global recession.

“Urgent and bold steps are immediately needed to prevent the
economy from descending into a full blown crisis. This must be
averted at all costs,” said Rajiv Kumar, secretary-general of
the Federation of Indian Chambers of Commerce and Industry.

May 25, 2012

Under pressure, govt to review steep petrol hike

NEW DELHI (Reuters) – India’s coalition government opened the way for a partial rollback of the steepest petrol hike in the country’s history after two days of street protests and dissent from within its own ranks over the unpopular measure.

State-owned oil marketing companies announced an 11 percent hike on Wednesday after a six-month freeze on rises, seeking to recover losses from higher global oil prices and a plunging rupee that have deepened the country’s trade deficit.

May 25, 2012

Under pressure, Indian govt to review steep petrol hike

NEW DELHI, May 25 (Reuters) – India’s coalition government
opened the way for a partial rollback of the steepest petrol
hike in the country’s history after two days of street protests
and dissent from within its own ranks over the unpopular
measure.

India’s state-owned oil marketing companies announced an 11
percent hike on Wednesday after a six-month freeze on rises,
seeking to recover losses from higher global oil prices and a
plunging rupee that have deepened the country’s trade deficit.

May 24, 2012

Protests on petrol prices may delay diesel reform

NEW DELHI (Reuters) – The UPA government came under intense pressure on Thursday from within the ruling coalition and protesters to roll back the steepest petrol price hike in the country’s history, less than 24 hours after it took the unpopular decision cheered by investors.

There had been signs that the beleaguered government was preparing to take the bolder step of cutting subsidies on other fuels weighing on its budget deficit, but after a day of uproar over petrol prices, an imminent move looked unlikely.

May 24, 2012

India protests on petrol prices may delay diesel reform

NEW DELHI, May 24 (Reuters) – The Indian government came
under intense pressure on Thursday from within the ruling
coalition and protesters to roll back the steepest petrol price
hike in the country’s history, less than 24 hours after it took
the unpopular decision cheered by investors.

There had been signs that the beleaguered government was
preparing to take the bolder step of cutting subsidies on other
fuels weighing on its budget deficit, but after a day of uproar
over petrol prices, an imminent move looked unlikely.

May 18, 2012

Analysis: In India, muddled leadership leaves economy adrift

NEW DELHI (Reuters) – “Dear God,” wrote economist Rajeev Malik as he called on the Almighty to help India’s “rudderless” government in a biting critique that underscored a growing frustration at home and abroad with the stewardship of Asia’s third-largest economy.

Writing in India’s Business Standard newspaper, the well-respected Malik echoed the exasperation of Indian and foreign business groups pressing for the government to swiftly implement major economic reforms and formulate a coherent strategy to deal with its mounting problems.

May 18, 2012

In India, muddled leadership leaves economy adrift

NEW DELHI, May 18 (Reuters) – “Dear God,” wrote economist
Rajeev Malik as he called on the Almighty to help India’s
“rudderless” government in a biting critique that underscored a
growing frustration at home and abroad with the stewardship of
Asia’s third-largest economy.

Writing in India’s Business Standard newspaper, the
well-respected Malik echoed the exasperation of Indian and
foreign business groups pressing for the government to swiftly
implement major economic reforms and formulate a coherent
strategy to deal with its mounting problems.