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According to Indian Trade Secretary Rahul Khullar, India’s balance of trade has gone from a whopping trade deficit of $31.6 billion during the first quarter of the current fiscal year and has shrunk to a much more manageable trade deficit of $7.7 in June.

India’s trade deficit is reported to have shrunk after a steep rise in Indian exports over the past year. In the year-on-year growth rates in June, India’s exports registered a robust growth of 46.6%, allowing exports to climb to $29.2 billion in value.

With Boeing’s refusal to timely deliver the high sophisticated comfortable, super-efficient jumbo jet- 787-Dreamliner, Air India’s hope have been dashed again.

Boeing 727 Dreamliners are fuel efficient and use only up to 80% of fuels as used by similar aircrafts. Dreamliners have a higher cargo capacity and the higher engineering can make these jets travel at speed of any other aircraft.

Bharti Airtel announced restructuring of its Indian and South Asian Operations on Tuesday. The restructuring decision was made considering the dropped revenues and aimed at reducing cost.

Times Internet Limited (TIL), India’s largest media house –“the Times Group” venture, announced the launch of its new program T-labs which is focused on supporting the ideas, concepts and projects of grooming internet and mobile entrepreneurs in India.

Santander, one of the largest banking groups, was determined to shift all the call centres from India to the UK, after receiving huge number of complaints, high real estate prices and an extreme hike in salaries.

The India’s American Depository Receipts (ADR’s) ended at a profitable note on Thursday, resulting in gaining of profits by telecommunication companies, information technology and banking sector.

As per data, the MTNL shares were up by 1.08% at $ 2.04 and Tata Communications had increased by 3.59% at $ 9.82. In the IT sector, Patni Computers was down 0.65% at $15.26, while Infosys ended up 2.69% at $ 68.25 and Wipro ended up 2.92% at $13.73.

In the banking sector, ICICI Bank was up 2.3% at $ 49.31 and HDFC Bank was up 1.41% at $ 182.56. In other sectors, Tata Motors was up 2.95% at $ 24.05, Sterlite Industries was up 0.86% at $ 15.21 and Dr Reddys Labs was up 1.39% at $ 35.