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India’s investment grade credit rating looked under threat after Fitch Ratings cut its local currency grade outlook to negative on Tuesday, citing deteriorating public finances, mainly due to subsidies.
Fitch’s warning followed comments last week from Standard and Poor’s cautioning Asia’s third-largest economy over rising inflation and widening current account and fiscal deficits, and [...]

The Indian economy is getting hammered. Since January, the rupee has weakened 9%. The stock market capitalization (BusinessWeek.com, 1/22/08) has shrunk 32% and is currently hovering at its lowest level since June of last year. Inflation, at 11%, is at a 13-year high. At least in the short term, the India growth story is seriously [...]

India’s days of more than nine per cent economic growth are over and the country has lost the opportunity to sustain those levels as well, believes global financial services major Citigroup.
“…the days of 9 per cent plus growth are over and we believe that India has lost the opportunity to sustain those levels [...]

Indian shares extended gains to more than 3 percent by afternoon on Friday, led by ICICI Bank and Larsen & Toubro.
At 3:01 p.m., the 30-share BSE index was up 3.15 percent, or 412.59 points, at 13,506.70, with 27 components rising.
The 50-issue NSE index rose 2.7 percent to 3,926.65.

The impact of surging food and fuel prices being felt globally is “not so big” in India but it needs to tighten its monetary policy, the IMF has said as it warned that some countries will not be able to feed their people and maintain economic stability if the hike continues.
“Some countries are at [...]

Home loans and auto financing from public sector State Bank of India would be dearer as the lender has decided to hike interest rates by 50 basis points on all credit linked to prime lending rates.
Speaking at a function in Ghaziabad, State Bank Chairman-cum-Managing Director O P Bhatt said the bank has decided to [...]

With no change in the US economic situation and fresh IT investments by clients on hold, the weakening rupee is the only focus point for investors in IT stocks. While this has provided a breather, it has not made a significant difference to company outlook. In the last three months, the rupee has weakened more [...]

Chandra Kochar, joint managing director and chief financial officer of India’s largest privately owned bank, $80 billion ICICI Bank, is bullish on India growth story. She contends that the growth in India is shifting from consumerism to manufacturing and infrastructure.
In the last five to seven years, India has grown on the basis of its knowledge [...]