Indian billionaire Rakesh Jhunjhunwala’s plan to launch an ultra-low-cost airline could give planemaker Boeing a chance to regain lost ground in India after the fall of one of its biggest customers, Jet Airways, two years ago, industry executives say.

Global economic growth prospects are holding strong for this year and next, despite a significant majority of economists in Reuters polls warning new variants of the coronavirus pose the biggest risk to that outlook. 

Profits at Indian conglomerate Reliance Industries dropped sharply between April and June this year, the company said Friday, as Asia’s third-largest economy battled a vicious second wave of Covid-19.

With its foreign exchange reserves hitting $608.99 billion as on June 25, India has emerged as the fifth largest foreign exchange reserve holder in the world after China, Japan, Switzerland and Russia, parliament was told yesterday.

The Indian rupee dropped to its lowest level in three months on Monday, in line with other Asian currencies, as the rapid spread of the Delta variant of coronavirus threatened to derail economic recovery. 

Walmart’s Flipkart should not be treated the same as rival Amazon in an Indian antitrust probe as the evidence against the two firms was “qualitatively different”, Flipkart argued in a court filing seen by Reuters. 

A stock offering by Indian food delivery startup Zomato drew bids worth US$46.3 billion as it was more than 38 times oversubscribed on Friday, signalling investors were bullish about the fast-growing sector. 

India’s move to ban Mastercard for breaching data storage rules has destabilized the country’s financial sector as it will disrupt bank card offerings and affect revenues, payments and banking industry executives said to Reuters. 

Transportation of goods from India to Bangladesh via freight trains doubled in the last fiscal year as the route is cost-effective and saves time.

Palm oil prices in India have risen more than six per cent even after the government cut import tax and allowed shipments of refined palm oil as its price overseas jumped in anticipation of strong demand from the world’s biggest buyer, industry officials said. 

India’s fuel demand recovered last month after slumping to a nine-month low in May, as restrictions to curb the spread of the pandemic were eased and mobility picked up. 

India’s retail inflation probably accelerated to a seven-month high in June on rising food and fuel prices, staying above the Reserve Bank of India’s comfort zone for a second straight month, a Reuters poll showed.