As the helicopter carrying top Indian opposition leader Narendra Modi descended toward a rally in the grounds of the turreted Bangalore Palace, the crowd of more than 300,000 erupted in applause and chanted his name.
Billionaire Anil Agarwal has asked Cairn India Ltd., which enjoys the highest profit margin among the top Asian oil companies, to explore ways to double output as his mining business in the South Asian nation founders.
Indian economic growth quickened last quarter from a four-year low on higher factory output, a revival threatened by looming interest-rate increases to fight rising prices in the nation of 1.2 billion people.
Billionaire Anil Agarwal, who controls London-based Vedanta Resources Plc, said he regrets investing 500 billion rupees ($8 billion) on an aluminum complex in India that’s faced a shortage of raw materials.
Sugar mills in Uttar Pradesh, India’s biggest growing state, will extend a shutdown to prevent losses from widening as a dispute over pricing of cane continues, potentially reducing the country’s output, a millers’ group said.
Aban Offshore Ltd., Asia’s third- most-indebted oil rig provider, will be able to obtain cheaper U.S. and European financing following the easing of some sanctions on Iran, the Indian company’s biggest market.