Tag: India

Indian Prime Minister Narendra Modi’s government has decided to let lapse a $23 billion program to incentivize domestic manufacturing, just four years after it launched the effort to woo firms away from China, according to four government officials.

Jaguar Land Rover’s Indian parent reported a lower-than-expected quarterly profit as a broader consumption slowdown in its home market hurt sales of cars as well as commercial vehicles.

India’s central bank expectedly kept the benchmark interest rate unchanged at 6.50% on Friday as it struggles to contain rising inflation without hurting growth in Asia’s third-largest economy.

India’s economic growth decelerated to its slowest rate in seven quarters, data showed on Friday, reflecting lower consumption amid high food inflation and a rise in consumer credit.

The International Monetary Fund has upgraded its economic forecast for India for 2024, while warning that growth will dip in the following year.

Indian stocks sank Tuesday as Prime Minister Narendra Modi and the ruling Bharatiya Janata Party struggled to hang on to a majority based on early results Tuesday.

The International Monetary Fund raised its 2023 growth forecast for India by 20 basis points to 6.1%, bolstering expectations that the current G20 chair will be the world’s fastest growing major economy this year.

.

The U.S. and India are set to announce a slew of defense and technology collaborations on Thursday during Prime Minister Narendra Modi’s state visit, U.S. officials said.