Bloomberg India’s Prime Minister Narendra Modi unveiled a 163.2 billion-rupees ($2.5 billion) programme to ensure electricity for all households. The programme will help poor people get electricity connections at no cost, Modi said in a speech in New Delhi on Monday, adding that his government is making efforts to provide power to about 3,000 unelectrified villages. The nation will aim ...

Bloomberg India’s top iron ore miner NMDC Ltd. is looking to sell a stake of at least 49 percent in its Chhattisgarh steel plant, as it prepares to begin production at the 3-million-ton facility in three to six months, according to a company official. The state-run miner is seeking a partner for its first steel venture, which has been eight ...

Bloomberg Alibaba Group Holding Ltd. will buy control of unprofitable delivery business Cainiao for 5.3 billion yuan ($800 million) and spend billions of dollars more to expand a shipping network that spans the world’s largest e-commerce market. China’s largest web marketplace agreed to increase its stake in Cainiao Smart Logistics Network Ltd. to 51 percent. Under the deal, Alibaba plans ...