India’s rupee rose toward a seven- week high on optimism falling oil and gold prices will help narrow a record current-account deficit.
India needs a plan to tackle a record current-account deficit and the government will take steps to boost investment flows from abroad, Prime Minister Manmohan Singh said today.
India is poised to approve furniture retailer Ikea’s application to open stores as the nation seeks to lure more investment, Commerce Minister Anand Sharma said.
India extended support for exporters to tackle the nation’s trade deficit, stepping up efforts to revive Asia’s third-largest economy.
India is disappointed with a forecast of 7 percent economic growth this year, as it had hoped for 8.5 percent, Trade Minister Anand Sharma said in an interview with France’s Le Figaro newspaper.
It’s the retail revolution that wasn’t.
India’s overseas investment board approved furniture retailer Ikea’s proposal to open outlets in the country, bringing the Swedish chain closer to becoming the first major foreign retailer to set up its own stores.
Tiger Global and Accel Partners, the funds that made millions off early investments in Facebook Inc., are betting on a surge in online shopping in India.
An Indian government agency is investigating allegations that Wal-Mart Stores Inc. violated legal restrictions on foreign investment in the retail industry, Trade Minister Anand Sharma said.
U.K. financial advisers won’t be able to charge commissions on some products under new rules designed to make the fees paid by consumers more transparent.
"The government is committed to play a constructive role in encouraging foreign direct investment, especially in areas which create jobs and provide technological advancement."
- Anand Sharma on Jan 21, 2013