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India's central bank urged the government to rein in spending in advance of important state elections, as it seeks more help from New Delhi in the fight to beat down inflation and boost a flagging economy.
Tata Consultancy Services profits rose 9 percent in dollar terms to 28.9 billion rupees ($568 million) in the December quarter as growth in Europe and a weak rupee helped earnings, the company said Tuesday.
India's industrial production rebounded in November, government data showed Thursday, providing some relief to Asia's third-largest economy, which has been struggling with slowing growth and high inflation.
Quarterly profits at Infosys beat expectations, but the outsourcing bellwether said Thursday that the global economic slowdown and chaos in Europe would hit growth going forward, disappointing investors.
A skyscraper building boom in China and India may be a sign of an impending economic correction in two of Asia's largest economies, according to a new report by Barclays Capital.
Ajay Piramal is sitting on a mountain of cash. Yet the billionaire Indian tycoon, working in one of the world's fastest growing economies, is struggling to figure out what to do with the money.
India's central bank held key interest rates steady Friday as it struggles to foster growth amid high inflation, disappointing businesses who were looking for more drastic action.
India's industrial production slid 5.1 percent in October, helping drive the rupee to a fresh record low against the dollar — more signs of the reversal of fortunes in Asia's third-largest economy.
The future of microfinance may not lie in small loans alone.
India on Wednesday suspended its plan to open its huge retail sector to foreign companies such as Wal-Mart in a reversal seen as a major capitulation to political opponents that further weakens the administration.
Ashok Kokane sits amid his strawberries at Mumbai's Crawford Market, a handwritten ledger across his knees and a fan of dirty 10 rupee notes at his hand. The lazy, dust-encrusted ceiling fans above are far past cleaning.
India's economic growth skidded to 6.9 percent in the July-September quarter, its lowest in over two years, and is forecast to slow further amid delayed economic reforms and a worsening global outlook.
Shops around India closed their doors Thursday in a strike called to protest a new policy to allow big-box retailers into the country.
SKS Microfinance executive chairman Vikram Akula stepped down Wednesday from the company he founded, the board said, as India's second largest microlender struggles to revive its flagging fortunes.
Board member Cyrus Mistry will take over from leading Indian industrialist Ratan Tata when he retires as chairman of Tata Sons next year, the board said Wednesday.
India's top mobile operator Bharti Airtel reported a 31.5 percent drop in quarterly profit Thursday, missing expectations on weak performance in Africa and soaring costs.
India's central bank raised its key interest rate by half a percentage point Tuesday, its ninth hike in just over a year, warning that persistent inflation is threatening growth in Asia's third-largest economy.
For the last 12 years, a businessman in the northern Indian city of Kanpur has been paying a 5,000 rupee ($113) bribe to government officials to get his income tax refund.
Honda's India unit will halve auto production because of a shortage of components following the March tsunami in Japan, while Toyota Motor Corp. is cutting production by 70 percent.
India's March inflation rose more than expected to nearly 9 percent, as manufacturing and fuel costs increased, government data showed Friday, adding to worries about pricing pressures across emerging Asia.
Infosys Technologies reported an 18.9 percent rise in quarterly profit in dollar terms Friday, missing expectations as expenses, global uncertainty and a rising rupee squeezed margins.
It was an average sort of beast — gray, thick shouldered, with fat curling horns — spotted from the window of a moving car. But to Giuseppe Mozzillo, who grew up outside Naples in Italy's buffalo mozzarella heartland, the animals dotting the Indian countryside looked enticingly familiar.
Vodafone has agreed to pay $5 billion cash to buy out the Essar Group's stake in their Indian joint venture.
Japan's devastating earthquake will further slow growth in Asia, where rising oil prices and higher interest rates are already cooling an engine of the global economy, economists say.
Economic aftershocks of the devastation in Japan are rolling through Asia. It is here, among Japan's neighbors, that the reverberations of the catastrophe are being felt hardest.
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