Here are the top business headlines this morning, to get your day started
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TDK Corporation will make Li-ion batteries to power iPhones made in India. The cells will be supplied to Sunwoda Electronics, which is operating in India and imports cells from various markets in the world. The contract with Apple Inc could generate 8,000-10,000 jobs in India.
(Business Standard)
After 70 death in Gambia earlier this year, over 50 companies have failed quality tests on their cough syrups. This comes after an order in May by the Drug Controller General of India that asked state drug controllers to test cough syrup samples in NABL accredited labs. A total of 2,104 tests were conducted out of which 54 companies’ samples failed.
(Economic Times)
The Reserve Bank of India’s monetary policy committee is likely to hold the repo rate for the fifth time in a row. The announcement is expected in December 8. India’s consumer price inflation has remained above the RBI tolerance band of 4 percent while growth has also been strong at 7.6 percent. The RBI believes that food prices are the only threat to it not meeting its inflation target of 4 percent.