Latest India Headlines
All the headlines from our India Topic Page, ordered by recency.
India Pursues Insurance, Gaming Firms Over Alleged Tax Evasion
Sep 28 2023 // Indian authorities sent a $208 million tax demand to a private insurer, the latest in a growing list of firms slapped with similar notices as the government intensifies its crackdown on alleged evasion. ICICI Lombard...
Pegatron India Fire Traced to Workers’ Failure to Turn Off Electrical Switch: Sources
Sep 28 2023 // A factory fire at iPhone assembler Pegatron India was sparked by a short-circuit after an electrical switch was left on, following testing of the devices as they were being put together, two sources briefed on the matter...
Apple Supplier Pegatron to Halt Assembly at India Plant for Second Day After Fire
Sep 26 2023 // Apple supplier Pegatron has told its factory workers not to report for work on Tuesday, halting the assembly of iPhones for a second straight day at its south India factory where a fire broke out on Sunday, three sources...
India’s Reliance Hunts for CEO of Jio Financial Services’ Newly Created Insurance Biz
Aug 31 2023 // Reliance Industries Ltd. is in discussions with global and domestic executive headhunters to find a leader for Jio Financial Services Ltd.’s newly created insurance business, according to people familiar with the...
India Braces for More Rain After Floods, Lightning Kill 2,000
Aug 18 2023 // Some regions of India are bracing for more torrential rain, raising the risk of further causalities after natural calamities such as floods and lightning killed 2,000 people during the current monsoon season. Rains have...
People Moves: Marsh Promotes Duca to Global Head of Credit Specialties; Howden Names Agarwal CEO, Howden India, as Vashista Becomes Chairman
Aug 1 2023 // This edition of International People Moves details appointments at Marsh and Howden. A summary of these new hires follows here. Marsh Promotes Duca to Global Head of Credit Specialties Marsh, the insurance broker and risk...
Chubb Seeks 49% of India’s Kotak General Insurance, Has Edge Over Zurich: Sources
Jul 25 2023 // U.S. insurer Chubb is in talks to acquire a 49% stake in India’s Kotak General Insurance and has become a more favored suitor than Zurich Insurance Group, two people with direct knowledge of the discussions...
Cyclone Biparjoy Makes India Landfall, Damaging Power Lines, Uprooting Trees
Jun 16 2023 // Strong winds, heavy rain and high tides lashed India’s Gujarat coast late on Thursday as Cyclone Biparjoy made landfall after authorities there and in neighboring Pakistan had evacuated more than 180,000 people to...
Zurich Insurance Eyes Buying $400M Stake in General Insurance Arm of India’s Kotak
Jun 14 2023 // Zurich Insurance Group is in talks to buy up to 51% of India’s Kotak General Insurance, two sources with direct knowledge of the matter said, a deal that would mark its first major bet on the fast-growing South Asian...
Major Oil And Container Ports Shut as Severe Storm Nears India
Jun 13 2023 // Major oil and container ports have shut in India as a severe cyclone tracks toward the nation’s west coast near Pakistan. Adani Group’s flagship Mundra operation, India’s busiest container harbor, the oil...
Severe Cyclone Expected to Hit India’s West Coast, South Pakistan on Thursday
Jun 12 2023 // A storm off India’s west coast has strengthened to become a powerful cyclone and could hit India’s western state of Gujarat and southern parts of Pakistan this week, the weather department said. The cyclone,...
Signaling System Error Caused India’s Worst Train Crash in Decades: Railways Minister
Jun 5 2023 // The train derailment in eastern India that killed more than 300 people and injured hundreds more was caused by an error in the electronic signaling system that led a train to wrongly change tracks, India’s railways...
Ransomware Attack to Hit Revenue at India’s Top Drugmaker
Mar 27 2023 // Sun Pharmaceutical Industries Ltd. expects revenue to fall as measures taken by India’s top drugmaker to contain an information technology security breach in early March impacted operations. A ransomware group has...
Walmart Pumps $200M Into India’s PhonePe, to Build Insurance, Wealth Businesses
Mar 17 2023 // Indian digital payments firm PhonePe said on Friday it has raised $200 million from majority backer Walmart Inc. at a pre-money valuation of $12 billion. PhonePe, already India’s most valuable payments firm and among...
Apple Supplier Foxlink ‘Working Hard’ to Resume Production After India Fire
Mar 1 2023 // Taiwanese Apple Inc. supplier Foxlink said on Wednesday it is working hard to resume production following a fire at a plant in southern India that halted operations at the maker of iPhone charging cables, sending its stock...
India’s Kotak Mahindra Bank Weighs Sale of Stake in General Insurance Unit: Sources
Feb 13 2023 // Kotak Mahindra Bank Ltd., backed by billionaire Uday Kotak, is considering selling a minority stake in its general insurance unit, according to people familiar with the matter. The lender is working with an adviser on the...
India’s Digit Insurance to Refile Papers for $440M IPO After Regulator Raises Concerns
Jan 31 2023 // Digit Insurance will refile papers for its $440 million initial public offering (IPO), the company told Reuters on Tuesday, after India’s market regulator raised certain compliance issues with employee stock plans in...
India’s Reliance Industries to Create Financial Services Unit for Its Consumer Businesses
Oct 24 2022 // Reliance Industries Ltd., will create a financial services unit to feed its consumer businesses that are contributing an increasing share of profits to the retail-to-refining conglomerate. It will also restructure the...
India Regulator to Restart Review Process for IPO of Fairfax’s Digit Insurance: Sources
Sep 30 2022 // India’s markets regulator will restart a review of a $440 million initial public offering of Digit Insurance after the company resolved certain compliance issues that had led to the regulator putting the process on...
Traffic, Water Shortages, Now Floods: The Slow Death of India’s Tech Hub?
Sep 16 2022 // Harish Pullanoor spent his weekends in the late 1980s tramping around the marshes and ponds of Yemalur, an area then on the eastern edge of the Indian metropolis of Bengaluru, where his cousins would join him catching...
