India News

President Barack Obama told a joint news conference with Indian Prime Minister Manmohan Singh on Tuesday that he was committed to completing a bilateral civil agreement that would open up India's potential $150 billion market in power plants.

President Barack Obama sought to reassure Indian Prime Minister Manmohan Singh on Tuesday of his commitment to boosting U.S. ties with India even as his administration has set its rivals, China and Pakistan, as top priorities.

Kuwait's Kharafi Group and a consortium led by India's Vavasi Group have named advisers in a deal to sell a 46 percent stake in telecoms firm Zain, a Kharafi official said, in a sign that the deal was ongoing.

Kolkata, Nov 24 (IANS) City-based tyre manufacturer Dunlop India would resume production at its Sahaganj unit Dec 2, the company said Tuesday.

Syniverse Technologies Inc, a provider of technology services to wireless telecommunications companies, is in talks with major Indian wireless carriers over its number portability services.

Hyderabad, Nov 24 (IANS) The accounting scam at Satyam Computer Services is to the tune of Rs.14,000 crore (Rs.140 billion/$2.8 billion) and not Rs.7,800 crore (Rs.78 billion) as the company's disgraced former chairman B. Ramalinga Raju stated earlier this year, the Central Bureau of Investigation (CBI) has said.

Telecoms services firm Tata Communications said on Tuesday it had signed agreements with operators in the Middle East to build a new cable system for the region.

Mid-sized Indian IT services provider MphasiS Ltd reported a 34 percent rise in its quarterly net profit helped by new outsourcing contracts won mainly due to its partnership with Hewlett-Packard Co.

Mumbai, Nov 24 (IANS) An overwhelming majority of brokers of the Bombay Stock Exchange (BSE) are opposed to any extension of trading hours, according to a survey report released here Tuesday.

New Delhi, Nov 24 (IANS) Agriculture Minister Sharad Pawar Tuesday said some cases of suicides by farmers due to personal reasons were also attributed to crop failure and other farming related reasons.

Following are selected comments from speakers at the 2009 Reuters India Investment Summit that runs from Monday to Wednesday.

Indian conglomerate GMR Infrastructure Ltd, which has interests spanning from aviation to power, has 30 billion rupees ($650 million) to invest in existing businesses by March 2011, a top official said.

Infrastructure Leasing and Financial Services Ltd's open offer for Maytas Infra Ltd would open on Nov. 25 and close on Dec. 14, the offer manager said in an announcement.

Raipur, Nov 24 (IANS) Chhattisgarh Chief Minister Raman Singh Tuesday asked the central government to raise the minimum support price (MSP) for paddy to Rs.1,400 per quintal from the present Rs.950 per quintal.

Ford Motor Co will launch a new car model in India every 12-15 months over the next five years, with its new Figo small car is set to drive a tripling of sales in 2010, its India head said on Tuesday.

New Delhi, Nov 24 (IANS) The genetically modified Bt Brinjal has been developed in compliance with international norms and experts evaluating it have found no danger in it, Minister of State for Environment and Forests Jairam Ramesh said here Tuesday.

Hyderabad, Nov 24 (IANS) The Central Bureau of Investigation (CBI) Tuesday filed an additional charge sheet against former Satyam Computer Services founder-chairman B. Ramalinga Raju and others accused in the Rs.78-billion (Rs.7,800 crore) accounting scam that rocked the country earlier this year.

DLF Ltd, India's largest-listed real estate firm, is seeing a demand revival in the housing segment but a full-fledged recovery was still some time away, a senior official said on Tuesday.

Kolkata, Nov 24 (IANS) Bilateral trade between India and France will be hit this fiscal on account of the global economic meltdown, a French diplomat said here Tuesday.

New Delhi, Nov 24 (IANS) HCL Security, a wholly-owned subsidiary of hardware major HCL Infosystems, Tuesday said it has signed an agreement with technology firm Cisco to provide internet protocol-based safety and security solutions in India and abroad.