The prime minister of India is pushing ahead with a new agenda of reforms as the government prepares to sign off the latest batch of measures designed to open up the economy.
Manmohan Singh is intent on taking further steps to revive the country, in spite of fierce resistance from opposition parties threatening to try and bring down the coalition in the next parliamentary session.
The prime minister and his finance minister have stressed the need to revitalise investment both at home and overseas to get India's economy on the move again following a slump in gross domestic product growth.
Mr Singh's cabinet is due to approve foreign direct investment in the pensions and insurance industries, following similar action taken in the broadcasting, aviation and retail sectors in September.
At 10:20 BST this morning (October 4th), the Mumbai Stock Exchange Sensitive Index was up by one per cent to an index value of 19067.9 points.
Learn all about CFD trading strategies and the stock market at City Index.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.