India Economic Summit

Reuters coverage of the WEF India Economic Summit in Mumbai

India's boom resembles America's Robber Baron days

The crony capitalism of India's billionaire boom shows India capitalism is in its "adolescence", K.N. Vaidyanathan, former Executive Director of the Securities and Exchange Board, says. Just as in America, billionaires will discover why they need people at the bottom.  Video 

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In graft-plagued India, a "crisis of political credibility"

"The tragedy of India is its political system." That admission by a government minister captured the frustration of delegates at this week's India's World Economic Forum (WEF), where blame has been heaped on corruption and the policy paralysis in New Delhi for a darkening economic outlook.  Full Article 

A man stands on a stepladder to fix tangled overhead electric power cables at a residential area in Noida, located in the northern Indian state of Uttar Pradesh June 1, 2011. REUTERS/Parivartan Sharma
Indian Industry

Tulip looks to raise $75 million from PE firms

Tulip Telecom is in advanced talks with private equity firms to raise up to $75 million in the current fiscal year, its head said on Monday. Chairman and Managing Director H.S. Bedi was speaking on the sidelines of a World Economic Forum event in Mumbai.  Full Article 

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Indian Business

Tesco aims to build on Tata tie-up for India retail

Retail giant Tesco Plc plans to build on its existing tie-up with Tata Group to expand in the country if foreign operators are allowed to invest in multi-brand retail, an executive director of the UK retailer said on Monday.  Full Article 

Chairman of The Godrej Group Adi Godrej speaks during a televised debate on "The Indian Spring: Seeking Independence from Corruption" at the World Economic Forum (WEF) India Economic Summit in Mumbai. REUTERS/Vivek Prakash

Godrej group not cutting property prices - Chairman

Godrej group sees better demand ahead in residential projects and is not cutting property prices, while it faces a slowdown in demand in its consumer durables business, Chairman Adi Godrej said on Monday.  Full Article 

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Indian Economy

HCC to revamp Lavasa finances, decide on IPO

Hindustan Construction Company, one of country's largest builders, will revamp the financial structure of its Lavasa arm and decide whether to revive plans for an IPO after the unit won environmental clearance last week to resume construction after a year's delay, its chairman said.  Full Article 

Labourers take a break at the site of a residential estate under construction in Kolkata, India.  REUTERS/Rupak De Chowdhuri
Indian Economy

Indian infrastructure builders blame government for woes

Government paralysis, bureaucratic stonewalling of projects and corruption. Indian infrastructure firms on Sunday vented their frustration during a World Economic Forum event in Mumbai at what they saw as needless brakes on growth in a sector key to the country's prosperity.  Full Article 

Sam Pitroda, chairperson of National Knowledge Commission, gestures while addressing a gathering of software programmers in New Delhi May 10, 2006. REUTERS/Kamal Kishore
Indian Industry

Electronics import bill could surpass oil: Sam Pitroda

From chip plants to research parks, India must invest in an electronics manufacturing base to sate the swelling demand for smartphones, laptops and other gear or risk an import bill larger than for oil, a top adviser to the prime minister said.  Full Article 

Anand Sharma at the World Economic Forum in Mumbai

Recent export data "very disturbing" - Anand Sharma

Anand Sharma, India's trade minister, called the country's recent export data "very disturbing" but said he remained hopeful that the country could meet its target of shipping $300 billion worth of goods for the current fiscal year that ends in March.  Full Article 

The Standard and Poor's building in New York, August 2, 2011. REUTERS/Brendan McDermid
Indian Economy

S&P upgrades India banking system risk assessment

Standard & Poor's (S&P) Ratings Services revised upwards India's banking industry country risk assessment (BICRA) to group '5' from group '6', making it part of a group of countries including China, Portugal, Thailand and Turkey, it said.  Full Article 

Pakistan's Prime Minister Yusuf Raza Gilani (L) and his Indian counterpart Manmohan Singh prepare to shake hands before the 17th South Asian Association for Regional Cooperation (SAARC) summit, at the Shangri-La in Addu November 10, 2011.  REUTERS/Dinuka Liyanawatte

Pakistan, India herald new era of dialogue

VILLINGILI ISLAND, Maldives - India and Pakistan hailed progress in diplomatic ties, promising to open a "new chapter" in their fraught relationship at a next round of formal peace talks due to take place by the end of this month.  Full Article 

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India's Kingfisher flies into debt turbulence

MUMBAI - India's civil aviation minister sought to cool a crisis over debt-hobbled Kingfisher Airlines as investors bailed out, alarmed by scores of flight cancellations and reports that its leasing firms wanted their planes back.  Full Article