MUMBAI/NEW DELHI India's gold imports plunged 86% year-on-year in June due to record high prices and as international air travel was banned and many jewellery shops closed amid a nationwide lockdown to curb the spread of coronavirus, a government source said.
NEW DELHI India is drawing up an incentive scheme for the autos sector aimed at doubling exports of vehicles and components in the next five years, four sources with direct knowledge of the matter told Reuters.
NEW DELHI/BENGALURU India reported a record jump in coronavirus infections on Saturday, a day after the government in the capital New Delhi ordered hospitals to cancel any leave and have workers return to duty immediately.
NEW DELHI India plans to impose higher trade barriers and raise import duties on around 300 products from China and elsewhere, two government officials said, as part of an effort to protect domestic businesses.
NEW DELHI/MUMBAI India is considering raising import taxes on edible oils as the country seeks to become self-reliant by boosting local oilseed production with the help of tax revenues, two government and two industry officials told Reuters.
NEW DELHI A top Indian civilian defence official has tested positive for coronavirus and is in home quarantine, government officials said on Thursday, as the daily rise in infections hits a new high.
NEW DELHI Moody's Investors Service downgraded India's credit rating to a notch above junk on Monday, citing a prolonged period of slow growth in Asia's third-largest economy, rising debt and persistent stress in parts of the financial system.
NEW DELHI India has drafted rules proposing tighter scrutiny of new Foreign Portfolio Investors (FPIs) from China and Hong Kong, three government sources told Reuters, its latest effort to check foreign inflows during the coronavirus pandemic.
* Wary of ratings cuts, govt doesn't want to let deficit
NEW DELHI India's $266 billion economic rescue package rests mostly on boosting company credit but contains scant new public spending, tax breaks or cash support to revive demand and prevent firms from collapsing, business leaders and economists say.