Indian mobile-phone operators may pay more than 570 billion rupees ($9.2 billion) should all spectrum be sold in an auction that is under way, the chairman of the telecommunications regulator said.
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.
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.
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.
India’s food inflation rate may moderate in the next six months, Rahul Khullar, the nation’s trade secretary, said in Kolkata today.
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.
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.
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.
India’s telecommunications regulator yesterday recommended lowering reserve prices for the nation’s airwaves to attract buyers who stayed away in March.
India, the second-biggest cotton producer, partially ended a one-week ban on exports after protests from growers, traders and China, its biggest customer.
"Some carriers here are fighting for their lives."
- Rahul Khullar on Feb 12, 2014