Rahul Khullar News
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India’s telecom regulator said there are “limited” prospects for reviving as many as three mobile- phone service providers as their equity has been wiped out because of rising losses.
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India can cut its trade deficit by 19 percent in the current financial year if oil prices stabilize, the Wall Street Journal reported, quoting Commerce Secretary Rahul Khullar.
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India’s merchandise exports grew in July at the slowest pace in six months as demand for the nation’s textiles, tea and rice weakened in the U.S. and Europe.
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India’s food inflation rate may moderate in the next six months, Rahul Khullar, the nation’s trade secretary, said in Kolkata today.
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India’s merchandise exports increased at a faster pace in August amid growing demand for the nation’s goods, sustaining pressure for higher interest rates to cool inflation.
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The Standard & Poor’s GSCI Spot Index of 24 raw materials rose a second day, by 0.3 percent to 712.31, at 4:37 p.m. in New York. Cotton and cocoa lead the gain.
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India’s trade deficit widened the most in October in at least 17 years, adding pressure on the rupee, Asia’s worst performing currency this year.
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India, the second-biggest cotton producer, partially ended a one-week ban on exports after protests from growers, traders and China, its biggest customer.
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India’s commerce ministry said it overstated merchandise exports by $9 billion in the eight months through November because of “misclassification and errors” in computing overseas sales.
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India, the world’s second-biggest cotton producer, ended a one-week ban on exports and will resume shipments once permits already issued are revalidated, the government said.
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