Indian Prime Minister Manmohan Singh defended his economic record in one of his strongest attacks on the opposition, saying policy changes in the past year will help stem the rupee’s plunge and revive growth.
U.S. Vice President Joe Biden is visiting India this week to, among other things, drum up fresh business for American companies. The magnitude of his task can be judged by the fact that a few days before his arrival, steelmakers Posco and ArcelorMittal SA canceled huge projects in India because of land disputes. Wal-Mart Stores Inc. has shown signs of pulling out as well, despite new laws supposedly allowing foreign ownership in the retail sector. The Indian government’s latest desperate attempt to reverse the flight of foreign investment and the fall of the rupee -- by opening up telecommunications to 100 percent foreign ownership -- doesn’t look any more likely to change minds.
Prime Minister Manmohan Singh failed to win passage of his anti-corruption bill as an uproar broke out in India’s upper house of parliament, capping a year of setbacks that stirred concern over a wrecked economic agenda.
India’s defense minister rejected U.K. helicopter company AgustaWestland’s assertion that it abided by anti-graft rules while securing a $753 million contract, as a panel of lawmakers is set to probe allegations of corruption.
Indian upper house lawmakers debated a bill to curb corruption as Prime Minister Manmohan Singh fights to secure its passage after activist Anna Hazare ended his public fast early amid signs he may be losing support.
Rahul Gandhi said it was time to repair a broken system of governance in his first speech after being named deputy leader of Congress, an appointment that seeks to invigorate the ruling party ahead of next year’s election.
A second deadly bombing of a major Indian city in two months exposed the country’s vulnerability to terrorist attacks almost three years after a siege of Mumbai spurred an overhaul of security and intelligence agencies.
India’s opposition rallied in New Delhi to protest what it says is Prime Minister Manmohan Singh ’s failure to check corruption in his government, taking its challenge from parliament to the capital’s streets.
India's UPA coalition government, widely accused of policy paralysis after having seen annual economic growth dip under its watch to 5.5 percent from more than 8 percent, initiated a slew of reform measures last weekend designed to attract foreign capital and restore investor confidence. The most significant of these reforms was the opening up of the retail sector to foreign investment, a decision first made by the government last November but subsequently rescinded after vociferous resistance both from the opposition and some of the coalition's own partners.