India aims to throw open its doors wider to overseas investors, a minister said Wednesday, as it seeks to spur a slumping economy before the general election.
India's central bank surprised many Wednesday by keeping its key interest rate unchanged despite the worrying rise in inflation.
India's worrisome inflation rose to 7.52 percent in November, driven by soaring food and fuel prices, data showed Monday. The highest level in more than a year increases pressure on the central bank to raise interest rates this week.
India's industrial output shrank by a surprise 1.8 percent in October and retail inflation accelerated to a nine-month high, data showed Thursday, dealing a double blow to recovery hopes for Asia's third-largest economy.
India's central bank has moved to level the playing field for foreign banks, opening up new opportunities for overseas lenders in Asia's third-largest economy.
India's new central bank governor hiked the key interest rate Tuesday for a second month running, disregarding calls for lower borrowing costs as he remains focused on battling high inflation.
A four-fold surge in the cost of onions helped push Indian inflation to a seven-month-high in September, data showed Monday, fueling expectations of another interest rate hike as authorities struggle to get the economy back on track.
Indian outsourcing giant Infosys on Friday reported a lower-than-expected 1.6 percent rise in quarterly net profit but raised its full-year revenue outlook, driving its shares up more than five percent.
India's car sales fell nearly five percent in the first half of the financial year, the steepest drop in a decade, as buyers steered clear of showrooms due to a weak economy, data showed Tuesday.
India's new central bank chief unexpectedly raised interest rates Friday, putting a higher priority on taming stubbornly high inflation than bowing to pressure to juice the struggling economy with cheap credit.