China agrees to cut tariffs on Indian cancer drugsChina said on Monday it had reached an agreement with India to reduce tariffs and increase imports of Indian medicines, particularly anti-cancer drugs. The decision was part of its efforts to broaden trade relations amid its on-going spat with the United States. Both India and China slashed import tariffs of a range of products starting July 1, following the fourth round of negotiations under the Asia Pacific Trade Agreement (APT...

The Income Tax Department seized the shares after issuing Cairn with a Rs 10,247 crore tax demand on capital gains made on at the time of the sale of business to Anil Agarwal-led Vedanta.

Vedanta Resources in a statement said it would recommend acceptance of the offer by the shareholders, who would also be entitled to a previously announced dividend of $0.41 per share. The company no longer sees the London listing as necessary to access capital and the deal will simplify Vedanta's corporate structure, it said.

The reports of the Department of Telecom (DoT) asking for Rs 4,700 crore from Vodafone India on account of one-time spectrum charges (OTSC) dues are expected to hurt India's ambitions.

The government is now mulling a 'windfall tax' on all oil producers like ONGC in an attempt to moderate fuel prices.

After Karnataka polls, the overall increase in the prices of petrol has been Rs 2.84 per litre whereas diesel has gone up by Rs 2.60 during the same period.

Amid the global clash between Saudi - led OPEC & US shale oil producers, India is crafting a balanced strategy to minimise the economic shocks of rising oil prices.

The action comes ahead of the beginning of the final hearing in the arbitration initiated by Cairn to oppose the retrospective tax demand which was raised on a 2006 internal reorganisation of the firm's India unit, called Cairn India.

While ArcelorMittal, Tata Steel and Vedanta draw plans to buy Essar Steel, the Ruia family, too, is looking for a backdoor entry. Can it succeed?

It also wants inclusion of natural gas in the Goods and Services Tax (GST) regime at the earliest to boost the use of environment friendly fuel and help transition to a gas-based economy.

On the back of a production cut by OPEC, global oil prices have risen from the depths of $40 a barrel and have rallied sharply in last few months.

Navin Agarwal spearheaded the consolidation, debt reduction and capacity expansions plans of Vedanta group companies. He has more on his plate.