Indian companies may defer plans to acquire rivals and add capacity by about three years as they focus on reducing record debt, according to Rahul Shukla, Citigroup Inc.’s local head of corporate banking.
Indian Railway Minister Pawan Kumar Bansal denied wrongdoing after the Central Bureau of Investigation arrested six people for corruption, including rail officials and a relative of the minister, the Press Trust of India reported.
India’s ruling Congress party aims to oust its chief rival in weekend elections in southern Karnataka state, a victory that may bolster the government as it bids to revive the economy ahead of a national poll.
A convicted Indian spy who was on death row in Pakistan has died from head injuries sustained in a jail attack by fellow prisoners, an incident that threatens to further strain relations between the nuclear-armed neighbors.
India’s Supreme Court rebuked federal investigators for allowing the government to vet the findings of a probe into alleged corruption in the award of coal blocks, setting off parliament protests and demands for the resignation of Prime Minister Manmohan Singh.