‘Ban on Chinese imports will cripple economy’

‘The ban on Chinese imports is a suicidal step.’‘This will result not only in economic depression, but in a chaotic situation.’ Tirupur is the leading textile cluster in India that exports garments to the outside world. The industry was crippled first due to demonetisation, then the faulty implementation of GST, followed by the lockdown due to the coronavirus pandemic. With […]

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Indian IPOs Pick up After Four-Month Break

Initial public offerings in India are picking up again after a four-month hiatus, during which the market was dominated by follow-on share sales and block trades. Rossari Biotech Ltd., a Mumbai-based specialty chemicals maker, is looking to raise as much as $66 million and last week received orders for 79.4 times the shares offered in a sign of strong demand. […]

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Covid May Boost Accuracy of India’s Earnings Pundits, ICICI Says

The pandemic may help improve the accuracy of India’s analysts, who are guilty of overrating the nation’s earnings potential for years. That’s the view from ICICI Securities Ltd., which says that consensus one-year forward forecast for earnings-per-share on the Nifty 50 index has been overestimated by about 20% on average since FY14. The discrepancy may reduce as a bleak economic […]

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Lower Borrowing Costs Can’t Save India’s Shadow Banks in Crisis

India’s shadow banks are benefiting from a drop in borrowing costs after government stimulus steps, but the troubled sector faces more challenges ahead as the economy reels from the pandemic. The lenders’ borrowing costs declined in June for a second straight month, according to a gauge that’s among four indicators compiled by Bloomberg to check on the health of the […]

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It’s reverse brain drain! Start-ups woo talent returning to India from US

Indian start-ups and software product companies are trying to attract engineers and programmers who are either stranded in India because of the lockdown or H-1B visa holders who have been laid off. With the uncertain business environment triggered by the coronavirus (COVID-19) pandemic and immigration-related issues, many talented Indians in the US are being forced to return. Start-ups and software […]

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Senator warns of political pressure on U.S. probe into hackers of green groups

WASHINGTON (Reuters) – A Democratic U.S. senator says he has written to Attorney General William Barr outlining his concerns about potential “political interference” by the Trump administration in an investigation of a private espionage firm that targeted environmental groups in the United States. Last month Reuters reported here that U.S. law enforcement was investigating aspects of a seven-year-long hack-for-hire operation […]

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China Shipments Stuck at India Ports Show Casualties of Standoff

Imports from China have been piling up at Indian ports pending government clearances, causing concern that a recent border standoff between the two nations could have an economic fallout that will disrupt supply chains. From active pharmaceutical ingredients that go into the world’s most-consumed drugs to the innards of popular mobile phones, Indian companies purchase Chinese raw materials that feed […]

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India Takes Another Step to Block China Products With New Rules

India has amended rules for purchases by government departments, making it mandatory for suppliers to mention the country of origin in a move to push for local products and keep out Chinese manufacturers. New sellers on the Government e-Marketplace, an Amazon-like online procurement platform, will have to register the origin of their products while those already available must meet the […]

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