India, the world’s second-largest gold consumer, will probably keep restrictions on imports to control the current account deficit and defend the rupee, said the managing director of the country’s biggest refiner.
India’s benchmark stock index rallied for the first time in four days led by shares of lenders and automakers.
Narendra Modi’s quest to lead India’s 1.2 billion people may ultimately lie in the hands of three women who wield clout as regional power brokers and have attacked him on the campaign trail.
Indian stocks fell for a third day amid concern the central bank may keep interest rates elevated after data showed consumer prices quickened last month for the first time since November.
The U.S. Federal Reserve considers developments in emerging markets when formulating policies, former Fed Chairman Ben S. Bernanke said.
India’s consumer-price inflation quickened in March for the first time in four months, keeping pressure on the central bank to keep interest rates elevated.
International central bankers pledged to take care in telegraphing monetary-policy shifts and consider their global effects amid renewed calls from emerging markets for greater cooperation.
India is prepared for potential financial fallout if the Federal Reserve increases interest rates before April 2015, Reserve Bank of India Governor Raghuram Rajan said yesterday in Washington.
Indian stock-index futures dropped after the benchmark index climbed to a record yesterday.
In 2004, Indian stocks suffered their biggest rout in four years when the Congress Party defied opinion polls by winning national elections.