Airtel is looking to move out of smaller unprofitable markets and intends to use the sale proceeds to reduce its debt, sources said.
Cairn bid for a block in Mannar basin while OVL, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), totally skipped the round. Little known Singapore-based Bonavista Energy Corp bid for two blocks in the Cauvery basin located offshore Jaffna in the North.
As per the current rules in Sri Lanka, any auto company wanting to setup a manufacturing facility there, nearly 60 percent of whatever they produce has to be exported out of Sri Lanka which is an effort by the government to position Sri Lanka as an export hub. However, this defeats the very purpose why Maruti Suzuki wants to go to Sri Lanka.
Delta Corp's hotel in Daman, which is India's largest integrated casino resort is expected to become operational in early 2014. The 187-room property will open up new markets for Delta Corp since it is near Mumbai and within convenient distance from the key cities in Gujarat.
"We hope that at least after CHOGM, the government would work towards improving relations. We see a marked breakdown in diplomacy and foreign policy in dealing with India," he said.
India has signed free trade pact with about 20 countries including Japan, Korea, ASEAN nations, Sri Lanka and Nepal, while it is negotiating market opening pacts with Australia, Canada, New Zealand and the European Union.
India had conveyed its serious concern about the scheme to the British government both at the ministerial and official levels.
The project, with a capacity to transmit 500 MW of electricity, is to be jointly implemented with the Ceylon Electricity Board at an estimated cost of Rs 2,500-3,000 crore and was scheduled to be completed this year.
Mahindra & Mahindra chairman Anand Mahindra told CNBC-TV18 that he is confident of continuing to manufacture medium and heavy trucks and added that the company had plans for investments worth Rs 10,000 crore.
DMK president M Karunanidhi today sought the Centre's intervention to end increasing incidents of apprehending of Indian fishermen by the Sri Lankan Navy and also their request to fish near the island nation for a select period due to dwindling resources.
Sri Lankan External Affairs Minister G L Peiris said that their ties with India were on a high pedestal and are moving forward slowly.
During the talks held on June 24-25, it was agreed that there was considerable potential to expand bilateral trade, in a balanced manner through optimal utilization of the opportunities available between the two neighbours.
After frustrating showers reduced the contest to a T20 affair, India first scored 129 for seven and then restricted England to 124 for eight in a topsy-turvy game that went down to the wire.
England won the toss and put India into bat in the Champions Trophy final at an overcast Edgbaston on Sunday.
England strike bowler James Anderson has rejected claims from former captain Bob Willis that the ball was tampered with during a Champions Trophy match against Sri Lanka at the Oval last Thursday.
Nayomi Munaweera‘s debut novel is about nostalgia, fear and loss in Sri Lanka.
A five-member Indian parliamentary delegation arrived in Colombo on a four-day trip to hold bilateral talks. The delegation is scheduled to visit the Tamil-dominated city of Jaffna, the capital of Sri Lanka's Northern Province, the Indian High Commission in Colombo said on Tuesday.
The United States will keep the pressure on Sri Lanka to allow an independent investigation of accusations of human rights violations in the final stages of the civil war and speed up reconciliation, its ambassador said.
India hopes to amicably resolve with Lanka detention of 16 Indian fisherman.
Domestic commercial vehicles leader Tata Motors on Wednesday said it has rolled out its Prima range of commercial vehicles in Sri Lanka in association with it local partner Diesel & Motor Engineering to meet the increasing demand for such vehicles in the island market.
Rajiv Bajaj, MD of the company feels the market for auto sector remains quite challenging and expects growth in April-June to be between 0 and -5 percent.
Tamil Nadu Chief Minister J Jayalalithaa on Tuesday once again played the Tamil card and wrote to Prime Minister Manmohan Singh demanding that no Sri Lankan player should play the Indian Premier League (IPL) matches in her state.
Sources say that IPL franchisees have told the Board of Control for Cricket in India (BCCI) to drop Chennai as a venue for matches, if the current political situation over Sri Lankan Tamils remains.
The US resolution against Sri Lanka over alleged human rights violations has been passed at the United Nations Human Rights Council (UNHRC) in Geneva.
Govt on Thursday denied reports that Sri Lanka had decided to reposses a part of a strategic oil depot Indian OilBSE -0.27 % as was announced by Information Minister Keheliya Rambukwella.