India and Indonesia on Saturday set an ambitious USD 50 billion targets for bilateral trade over the next six years as Prime Minister Narendra Modi and President Joko Widodo discussed ways to deepen cooperation in a number of key areas including economy, defence and maritime security.

The two leaders, who are in Osaka, Japan for the G20 Summit, met in the morning and discussed ways to boost bilateral ties and enhance cooperation in trade and investment.

The next few years will be decisive for Tata Motors and the company needs to transform itself to be relevant in the world of future mobility by forming partnerships, developing new solutions and optimise investment, according to Chairman N Chandrasekaran.

In his address to shareholders in the company's Annual Report for 2018-19, he also reiterated that transition to electric mobility needs to be well planned with government and industry working together to ensure development of ecosystem while incentives are provided to stimulate demand and sustainability goals are achieved.

Equity benchmarks nursed losses Friday as investors remained cautious ahead of the crucial US-China trade talks on the sidelines of the G-20 meet.Domestic trading sentiment was also at a low ebb following tightening of mutual fund norms by regulator Sebi, and the RBI recommending extra vigil regarding non-banking finance companies (NBFCs), traders said.

Amazon on Friday said it partnered the Tribal Cooperative Marketing Development Federation of India (TRIFED) to take tribal products to global customers.

TRIFED is the apex organisation under the ministry of tribal affairs, and the partnership will expand presence of TRIFED’s brand ‘Tribes India’ to Amazon users in 190 countries.

Addressing financial stress in the telecom sector after the upcoming spectrum auction, the revival of Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) with “least pressure” on the government, and ensuring “fair competition” will be priority for Telecom and IT Minister Ravi Shankar Prasad.

This is besides establishing India as the manufacturing and export hub of electronics.

The Reserve Bank of India (RBI) will continue to refine its forecasting models leveraging data that it receives from various sources, Governor Shaktikanta Das said on Friday.

The central bank receives data from banks, various other financial companies, as well as from the markets. This data can be used to fine-tune regulatory tools, Das said.

India’s foreign exchange reserves have touched a record high level of $426.42 billion as on June 21, thanks to the two $5 billion each swaps initiated by the central bank in March and April.

The present level is highest since April 13, 2018, when the reserves were at $426.08 billion.

Mumbai: The rupee appreciated by 15 paise to 68.92 against the US dollar in opening trade on Friday, driven by positive opening in domestic equities and easing crude oil prices.

The rupee opened strong at 69 at the interbank forex market then gained further ground to touch 68.92 per dollar, displaying gains of 15 paise against the greenback.

New Delhi: IT services major Wipro on Thursday said it has exited its joint venture WAISL by selling its 11 per cent shareholding to Antariksh Softtech for Rs 55 lakh.

In April last year, Wipro had sold 63 per cent of its stake in Wipro Airport IT Services Ltd (WAISL) to Antariksh Softtech in a Rs 3.15 crore deal.

Mumbai: A surging stock market has helped public sector behemoth Life Insurance Corporation of India (LIC) to register a 104 per cent growth in the profit made on its investments. For the quarter ended March 31, 2019, LIC's profit on sale of investments grew to Rs 1,4931 crore against a profit of Rs 7,330 crore in the same quarter a year ago.

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