Despite Prime Minister Narendra Modi launching a range of economic reforms, industrial growth in India remains weak hurting demand for large trucks and forcing companies like Tata Motors to look overseas for profit.
You may soon be able to drive over to Sri Lanka. That's right, India plans to build a bridge to its southern neighbour. This will be part of the Modi government's infra push and also its strategic initiative to ensure seamless connectivity between the SAARC nations.
Besides, the government is working towards a Rs 22,000 crore project to provide connectivity between India and Sri Lanka for which the Asian Development Bank has expressed willingness to provide funding, he said.
The two leaders met ahead of the BRICS and Shanghai Cooperation Organisation (SCO) summits here. It is the fourth bilateral meeting between the two leaders since their first in Fortaleza, Brazil, last July.
Quoting latest data published by World Cellular Information Service (WCIS), Airtel has over 303 million mobile subscribers across its operations and has moved up one position in the global rankings.
Samsung will launch several Tizen smartphones at varying prices, the person said without disclosing other specifications.
Ashok Leyland, Managing Director Vinod K Dasari said Dost fills an important gap in the company's portfolio, and 1,00,000 Dost vehicles on road, across 11 countries, is a proof of a good product design, solid engineering, and strong market acceptance.
Indian sugar mills have contracted to export 50,000 tonnes of white sugar to Sri Lanka, Myanmar, Afghanistan and Turkmenistan at USD 340-$345 a tonne, free on board, trade sources said, the first major deal in the past few months.
Addressing investors, analysts and business executives at the think-tank Council on Foreign Relations here yesterday, Finance Minister Arun Jaitley said Prime Minister Narendra Modi recently spoke to his Pakistani counterpart Nawaz Sharif.
The Mumbai-based company has launched the two models in partnership with Sri Lanka-based Diesel & Motor Engineering PLC (DIMO).
Shares of Tata Motors gained 1.9 percent intraday Tuesday after the company together with Diesel & Motor Engineering Plc (DIMO) Tata Motors launched its new cars - Zest and Bolt - in the Sri Lankan market.
The industry body said the Prime Minister's two-day visit is likely to see bold moves take economic relations much beyond the thread of cotton and textiles industry, which dominates bilateral trade.
In 2015, he has so far made high profile trips to Seychelles, Mauritius, Sri Lanka, Singapore, France, Germany, Canada, China and Mongolia.
The branch is likely to be inaugurated on Saturday by Prime Minister Narendra Modi, who is on a three-day visit to China. ICICI Bank's Managing Director and CEO Chanda Kochhar will also be present.
The country's exports dipped by 1.2 per cent to USD 310.5 billion in 2014-15 as against USD 314.4 billion in the previous fiscal (2013-14). Exports started declining since October 2014 and contracted to 21.1 per cent in March, the biggest fall in last six years.
Moran Birger will be responsible for all sales and commercial activities for the region, including India, Sri Lanka and Maldives, British Airways said in a release.
The report on the 500 MW project, to be jointly implemented by Power Grid Corporation of India Ltd and Ceylon Electricity Board, has been already sent to the island nation. It will only be the second project of its kind, after the transnational 2,000 MW power transmission line between Britain and France.
Defence Secretary RK Mathur will lead the Indian defence delegation at the talks due to be held on April 8-9 during which the two countries would discuss a wide range of measures to step up cooperation between army, navy and air force of the two countries.
LSSL, a wholly-owned subsidiary of Tata Steel, is engaged in the business of manufacturing and supplying hot dip galvanised wire and nail wire. It has an installed capacity of 14,400 tonnes per annum and generated an annual turnover of Rs 74 crore in 2013-14.
Pakistan on Monday said India should strive to achieve higher growth rates as its economic rise will help the entire SAARC region.
Modi said India and Sri Lanka should move "boldly" to conclude a long pending Comprehensive Economic Partnership Agreement (CEPA). Stating that Sri Lanka has the potential to be India's "strongest economic partner" in the region, Modi said it should not worry about India's economic size.
The agreement was announced after a meeting between Modi and Sri Lankan President Maithripala Sirisena here. "The Reserve Bank of India and the Central Bank of Sri Lanka have agreed to enter into a Currency Swap Agreement of USD 1.5 billion.
Prime Minister Modi, who arrived here this morning on the final stop of his three-nation tour of Indian Ocean island nations, met Lankan President Maithripala Sirisena and discussed bilateral and issues of regional importance.
In view of this, it would not be possible to set any target for FDI into the country". Modi is currently on a three-nation tour to Seychelles, Mauritius and Sri Lanka. In the recent past, he has visited the US, Myanmar, Australia, Fiji and Nepal.
The first CSR would be based in Mahe Island, capital of Seychelles. "This is part of the capability enhancement project for Seychelles in which India is helping," defence sources here said. They added that CSR will be based on Indian band and will have electro-optic system besides Automatic Identification System (AIS).