Posts From Rajesh Sharma

NEW DELHI (Reuters) – India doubled the import tax on some textile products to 20 percent, the government said in a statement on Tuesday, increasing duty on fabric-related commodities for the second time in a month. The move is expected

India slashed the sales tax rate on over 50 products on Saturday in a move aimed at appealing to traders and the middle classes as Prime Minister Narendra Modi’s government eyes next year’s elections. Modi is seeking a second term

MUMBAI (Reuters) – Reliance Industries, which has upended India’s telecoms sector with its cheap mobile data plans, launched its fiber broadband system on Thursday in a push to make deeper inroads into the country’s wireless and fixed-line internet industry. Reliance

MUMBAI (Reuters) – Facebook Inc’s (FB.O) WhatsApp messenger service has responded to a call from India’s technology ministry to curb the spread of false information on its platform, saying such a task required a partnership between the pair as well

India’s Punjab National Bank (PNBK.NS) (PNB) is closing nearly all its operations in a Mumbai branch that was at the heart of a $ 2 billion fraud, according to four sources with knowledge of the decision. The move to downsize

 India’s factory activity grew at its fastest pace this year in June on robust output driven by solid demand, according to a business survey that also showed input costs increased the most in nearly four years. That points to continued

India’s rupee is the latest currency to be dragged down by fears that a trade war could hurt global economic growth. The rupee dropped to a record low against the US dollar on Thursday, a slide fueled by fears over

India’s insurance regulator has allowed the country’s largest state-run insurer Life Insurance Corporation (LIC) to buy a stake of up to 51 percent in state-owned lender IDBI Bank, according to media reports on Friday. The Insurance Regulatory Authority of India

 The rupee fell to an all-time low against the U.S. dollar on Thursday tracking Asian peers, with weakening macro-economic fundamentals on the domestic front also weighing on the currency. The dollar’s sharp gain overnight coupled with falls in Asian peers

NEW DELHI (Reuters) – U.S. Ambassador to the United Nations Nikki Haley told India’s Prime Minister Narendra Modi on Wednesday it was important India cut Iranian oil use, but said the United States would work to allow India to use