Rahul Gandhi is poised to lead India if the ruling Congress party wins the next election after Prime Minister Manmohan Singh signaled his support for the next member of the country’s famed political dynasty.
Indian Prime Minister Manmohan Singh signaled younger party leader Rahul Gandhi should replace him while saying he’ll step aside after elections due by May, ending a decade in power with Asia’s third-biggest economy in a slump.
For India’s main opposition party, the mood in the world’s second-most populous country is similar to that in 1979 Britain, when Margaret Thatcher came to power on a message of strong leadership and effective governance.
India’s main opposition party won the most seats in four of five local elections held over the past month, giving it momentum before a 2014 national poll as voters punished Prime Minister Manmohan Singh’s ruling coalition.
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.
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.
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.