Foreign investors are lining up to capitalise on the opportunity, with new plants planned in Tamil Nadu and Bangalore, the Financial Times said.

Demand for new planes is set to bounce back in the world's fastest growing major economy, Boeing's managing director for regional marketing Dave Schulte said.

China stocks slipped again on Tuesday amid concern about Covid restrictions, but markets in Japan, Australia and India all climbed higher. Eyes are now on US data on Friday.

India's biggest telco Jio said on Monday it will begin rolling out 5G services for subscribers in the next two months. Owner Mukesh Ambani said it has committed $25bn to the expansion

Shares on mainland China slipped on Friday, but Hong Kong rose on news of a possible deal between the US and China with audit teams due to conduct initial checks in the city

Adani said claims that NDTV's founders are not able to sell off shares are "baseless" and "untenable". But the issue has taken the spotlight off Adani's huge $29-billion debt load

Nayara Energy's Russian parent Rosneft has already been hit by Western sanctions after Russia's invasion of Ukraine and traders are concerned the Indian refiner will suffer the same fate.

Markets fell in Hong Kong and Shanghai amid the bleak economic outlook in China, but shares edged up in Australia and India

Asian markets slid lower on Tuesday amid expectations of a further rate hike in the US, the slowdown in China, but financial stocks helped to pull India's Nifty 50 to a positive level

India is set to sign a $3-billion deal with the US for 30 top-level military drones for surveillance of their border with China and the Indian Ocean

The plan being discussed by the two nations would enable the use of Russia's Mir cards at India ATMs and Point of Sale terminals, and India's RuyPay cards in Russia, said the report.

"The hybrid bet is a turning point,'' said a person with direct knowledge of Toyota's plans. ``It will be a litmus test for Toyota's future and success in India.''