Modi government expects cargo traffic at its ports to jump by two-thirds by 2021 as India ramps up exports of goods including cars and other machinery.
Kaushik Basu, whose stint at the World Bank ends on July 31, was being looked at as a serious contender, the sources said
While India is catching China in motorbike sales, it lags far behind in cars, which use more petrol per journey.
Here is some background on the candidates seen as potential successors to Rajan at the RBI
Rajan was expected to join the search committee to appoint three external members of a new six-member RBI Monetary Policy Committee
India, the world's fourth-biggest oil consumer, recently offered Saudi Aramco a stake in refineries and petrochemical projects.
The six AP-1000 reactors would be built in Andhra Pradesh.
Mergers to create at most six state banks
India has already pipped Japan as the world's third-largest oil consumer.
Officials from India's biggest private refiner recently visited Iran to chalk out the details for resumption of trade ties with Tehran.
From parity in 1980, China's economy has outgrown India's fivefold to $10 trillion
The RBI cut the rate several times last year to reduce it by 125 basis points to the current 6.75 percent.
India should not loosen its fiscal deficit targets in the forthcoming budget, Prime Minister Narendra Modi's top economic adviser Arvind Panagariya said.
Iran has complained of irregular shipments
The contract would give a big boost to India's $150 billion nuclear power programme, and a broader push to curb greenhouse gas emissions.
Tehran plans to lift exports by 500,000 barrels per day
Critics say the programme, launched 10 months ago in India in collaboration with operator Reliance Communications, violates principles of net neutrality
The richest Hindu temple in the world could soon come to the rescue of Prime Minister Narendra Modi's plan to recycle tonnes of idle gold and cut economy-hurting imports.
The tax would create a single market in India for the first time.
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