Soumyajit Saha

Mumbai

Reporter at Nikkei Asia

Covering India for @NikkeiAsia // Formerly @ReutersBiz @EconomicTimes and @TheKenWeb

Articles

Student visa clampdown knocks Australian universities off balance

Jan 17, 2025 | asia.nikkei.com | Shaun Turton |Soumyajit Saha

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Young Indian chess players vault from Chennai to global conquest

Jan 10, 2025 | asia.nikkei.com | Soumyajit Saha

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Indian central bank leadership reshuffle sparks rate cut speculation

Dec 11, 2024 | asia.nikkei.com | Soumyajit Saha

MUMBAI -- The surprise appointment of veteran civil servant Sanjay Malhotra to lead India's central bank and the departure of several senior officials seen as relatively aggressive on monetary policy have sparked speculation of an imminent interest rate cut in Asia's No. 3 economy. Malhotra takes the reins at the Reserve Bank of India on Wednesday, succeeding the second-longest serving governor in its history, Shaktikanta Das, whom many had expected to get another three-year tenure extension.
India's central bank cuts full-year growth forecast to 6.6% from 7.2%

Dec 6, 2024 | asia.nikkei.com | Soumyajit Saha

MUMBAI/NEW DELHI -- The Reserve Bank of India (RBI) on Friday slashed its economic growth forecast for the current financial year ending in March to 6.6% from the 7.2% projected in October after seeing "much lower than anticipated" gross domestic product expansion of 5.4% in July-September.
India's central bank keeps rate as inflation exceeds tolerance level

Dec 6, 2024 | asia.nikkei.com | Soumyajit Saha

MUMBAI -- The Reserve Bank of India (RBI) on Friday held its benchmark interest rate at 6.5% as inflation soared beyond the central bank's mid-term tolerance band. Even though India's economic growth has slowed, a strong majority of economists has predicted that the central bank would hold to combat inflation.
Adani crisis sequel makes investors in Indian companies think twice

Dec 1, 2024 | asia.nikkei.com | Soumyajit Saha

MUMBAI -- When Gautam Adani, Asia's second-richest man and founder of rising Indian conglomerate Adani Group, was indicted in a U.S. federal court on bribery charges, investors braced for a shock similar to last year, when the company was roiled by accusations of financial improprieties by short-seller Hindenburg Research. That episode wiped $130 billion from the group's market value.
Indian billionaire Gautam Adani charged: 5 things to know

Nov 22, 2024 | asia.nikkei.com | Soumyajit Saha

MUMBAI/NEW DELHI -- An indictment against Indian business tycoon and Asia's second-richest man Gautam Adani on bribery charges in a U.S. federal court on Wednesday has sent shockwaves through India. The charges have brought scrutiny back on his empire, less than two years after accusations of financial improprieties by short-seller Hindenburg Research had wiped out $130 billion from the group's public market value.
India auto dealers struggle with high inventory despite festive season boom

Nov 20, 2024 | asia.nikkei.com | Soumyajit Saha

MUMBAI -- A rapid change in customer preference is causing uncomfortably high inventory levels at auto dealerships across India, adding pressure to their business despite robust sales during the country's festive season. Indian consumers have been opting to finance larger and swankier vehicles with debt, driving sales of traditionally popular small cars down.
India already has world's biggest elections. Should they be bigger?

Nov 15, 2024 | asia.nikkei.com | Soumyajit Saha |Kiran Sharma

PUNE, India/NEW DELHI -- Last Tuesday, Indian Prime Minister Narendra Modi's six-day campaign roadshow through the state of Maharashtra reached Pune. Billboards on highways leading into the city of 4.4 million, normally enlisted to promote new car models and housing developments, already carried Modi's face and the emblems of his Bharatiya Janata Party (BJP) and its allies.
Shares in SoftBank-backed Swiggy jump 10.5% in Indian debut

Nov 13, 2024 | asia.nikkei.com | Soumyajit Saha

MUMBAI -- Shares in Swiggy jumped 10.5% in their Wednesday debut as investors bought into the SoftBank-backed delivery startup positioned to benefit from India's growing online food and grocery platforms. The stock opened at 420 rupees ($4.98) per share, up from its listing price of 390 rupees. It then surged as much as 10.9% to 465.8 rupees during the day, before closing at 464 rupees on the National Stock Exchange in Mumbai.