India Interest Rate CutMarch 2013
The Indian central bank cut on March 19, 2013 the interest rate for the second time this year from 7.75% down to 7.5%.
The interest rate cut is aimed to stimulate economic growth in India which is the lowest in the last 10 years.
India Opens Stock Markets to ForeignersJanuary 2012
The Indian Government announced the opening of its stock markets to foreign individuals who would be able to directly buy and sell shares subject to certain terms.
The reform aimed to boost foreign investments follows a sharp decline of 25% in Mumbai stock market last year.
The reform will take effect from January 15, 2012.
BP Oil and Gas Partnership in IndiaFebruary 2011
BP and Indian Reliance Industries Limited announced on February 21 a historic partnership between the two companies.
According to the partnership agreement BP will take a 30% stake in 23 oil and gas blocks in India.
BP will pay Reliance Industries $ 7.2 billion. The payment which is subject to future performance could amount to $ 20 billion.
The oil and gas blocks cover an area of around 270,000 square km.
BP's transaction is one of the largest foreign direct investment in India.
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