India gold tax hits bridal budgets; smuggling up

MUMBAI, India — With India’s wedding season in full swing, the glass sales counters in Mumbai’s famed Zhaveri gold bazaars are crowded with customers eyeing elaborate headpieces, nose rings and necklaces.

India’s Economic Recovery Seen Subdued as Risks Persist

India’s economy probably expanded less than 5 percent for a second quarter as political gridlock that threatens Prime Minister Manmohan Singh’s growth agenda tempered gains from farm output and lower interest rates.

From ‘Superpower’ to ‘Time for a Reboot’

GURGAON – To understand the pall that slowing growth and seemingly paralyzed policy making has cast over business sentiment in India look no further than a panel held at an economic conference here this week: ‘‘Rebooting India.’’

India’s Central Bank Cuts Reserve Ratio as Cash Squeeze Threatens Economy

India’s central bank unexpectedly cut the amount of deposits lenders need to set aside as reserves to ease a cash squeeze in the banking system that threatens to deepen an economic slowdown.