Modi

Nervousness takes hold as election draws to a close; domestic demand continues to rise

SINGAPORE (May 20): The Tantallon India Fund closed down 1.89% in April weighed down by the rupee and another bout of risk-off as crude prices spiked on US President Donald Trump’s decision to further limit Iranian oil exports and the Druzhba pipeline debacle. On the ground, corporate earnings for the small- and mid-cap universe continue to surprise on the upside, well ahead of the more muted performance out of the large-cap index heavy-weights.

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S i2i 2Q earnings fall more than three-fold on higher purchases and changes in inventories

SINGAPORE (Aug 1): Telecom and IT service provider S i2i, formerly known as Spice i2i, saw 2Q earnings ended June of $127,000, down more than three-fold from the $433,000 posted in the same period a year ago despite higher sales in Indonesia.

This was because of 13.9% higher purchases and changes in inventories and direct service fees incurred of $82.9 million compared to $72.8 million a year ago as S i2i, through one of its Singapore subsidiaries, ventured into business of battery electric vehicles and passenger land transport in the later part of FY16.

Chinese smartphone billionaire is doubling Xiaomi's bet on India

Lei Jun

BANGALORE/SYDNEY (March 31): The worst may be over for Xiaomi Corp. 

The Chinese smartphone maker once compared with Apple Inc. has resumed growth and global revenue should surpass US$15 billion ($21 billion) this year as an expensive gamble on India pays off, billionaire co-founder Lei Jun said.

After spending US$500 million in the subcontinent since its debut two years ago, he pledged another investment of that size over the next three to five years.

A billion identities at risk as India goes cashless

India ID

NEW DELHI (Feb 27): Shivam Shankar Singh woke last month to an e-mail from an Indian government department. It had a name, address, mobile phone number and bank account with a code for money transfers and investments made in a dairy farm. None of the details were his.

How India's cash chaos is shaking everyone from families to banks

Rupees

MUMBAI (Nov 22): Serpentine queues spilling from banks. Parents worried that they can’t provide for their families. Prime Minister Narendra Modi appealing to Indians to bear the pain for just a little while longer.

These pictures continue to dominate media coverage in Asia’s third-largest economy, even two weeks after the government’s shock clampdown on cash. While supporters of the move say it will help root out tax evasion and graft in the years ahead, critics question the administration’s planning and execution.

A New India is growing faster, but much more divided

Modi billboard

NEW DELHI (Nov 17): Halfway through his first term as India’s prime minister, Modi and his Bharatiya Janata party have a mixed record in power. Growth is expected to be around 7.7% in the year through March and Modi passed a goods and services tax. There have been no major corruption scandals. India has momentum.

Modi’s successes have little meaning. After stiff opposition from lawmakers and unions, the prime minister abandoned efforts to reform land and labor laws that would dramatically improve the ease of doing business. And there is little employment growth.

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