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.
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 food inflation rate may moderate in the next six months, Rahul Khullar, the nation’s trade secretary, said in Kolkata today.
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.
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 trade deficit widened the most in October in at least 17 years, adding pressure on the rupee, Asia’s worst performing currency this year.
India, the second-biggest cotton producer, partially ended a one-week ban on exports after protests from growers, traders and China, its biggest customer.
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, 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.
"It's no longer possible for many companies to carry on like this."
- Rahul Khullar on Feb 18, 2013