India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Mumbai : ArcelorMittal Nippon Steel India (AM/NS India) has proudly reinforced its role in India's infrastructure transformation by supplying critical steel for two of the country's most iconic railway bridges 70% of flat steel for Chenab Bridge, the world's highest railway bridge, and 100% of steel for the Anji Khad Bridge, India's first cable-stayed railway bridge. The dedication of the iconic Anji and Chenab bridges by Hon'ble Prime Minister Shri Narendra Modi marks a significant step in realizing the vision of Viksit Bharat by 2047. These engineering marvels truly showcase India's will and capacity to build a new future. AM/NS India is humbled and proud to have contributed to these vital infrastructure projects by supplying world-class steel, powering India's journey forward. AM/NS India supplied 25,000 MT of high-strength structural steel, accounting for 70% of the total steel used in the Chenab Bridge. This included specialised steel grades for different components, high-strength steel for the arch and tailored grades for the pillars, a feat accomplished for the first time in India at this scale. Manufactured at flagship Hazira facility, the steel was produced under tightly controlled parameters and subjected to rigorous quality checks by third-party agencies. These efforts ensured the material's durability, rust resistance, and suitability for the bridge's extreme altitude and seismic zone. For the Anji Khad Bridge, AM/NS India supplied approximately 7,000 metric tonnes of customised fabricated steel structures, meeting 100% of the bridge's steel requirement. The steel was produced at the Hazira facility and tailored to meet the bridge's unique structural and environmental demands. To ensure durability and long life, the steel was manufactured under controlled parameters and inspected by third-party agencies with stringent quality standards. The fabrication was carried out almost entirely in-house, with augmented facilities to handle the complexity of the design. With Precision Planning and Agile Execution, AM/NS India implemented several innovations to enhance precision execution. This included optimised production planning across its facilities to meet specific requirements and timelines, integrated with an agile supply chain management to manage potential disruptions and maintain material flow. These contributions reflect AM/NS India's unwavering commitment to nation-building and its ability to deliver complex, high-performance steel solutions under challenging conditions. On the success of completing two of India's Greatest Rail Engineering Marvels, Ranjan Dhar, Director and Vice President, Sales & Marketing, ArcelorMittal Nippon Steel India (AM/NS India), said: "This initiative by AM/NS India stands as a true testament to the vision of 'Viksit Bharat'. The Chenab and Anji Khad Bridge is not just an engineering marvel but a symbol of India's advancing self-reliance and industrial strength. Our contribution to this landmark project reflects our deep alignment with the national development goals championed by Hon'ble Prime Minister Narendra Modi." He added: "Despite the formidable logistical and infrastructure challenges posed by the remote and mountainous terrain of Jammu & Kashmir, we ensured seamless delivery and execution. By harnessing our capabilities and collaborating with both public and private stakeholders, we are not just building infrastructure, we are shaping a more self-reliant and prosperous India."
Rameswaram, Feb 10 (PTI) The new 2.05 kilometre Pamban Bridge will allow trains to cross the sea between mainland India and Rameswaram Island in Tamil Nadu in less than 5 minutes, significantly less than the previous 25-30 minutes on the old structure, railway officials said on Monday. The bridge is ready to be dedicated to the nation and Prime Minister Narendra Modi is expected to inaugurate it within the next few weeks, though a date is yet to be decided, he added. "Trains used to take 25-30 minutes to cross the old colonial-era Pamban Bridge between Mandapam and Rameswaram Islands due to ...Read More >
Mumbai: Maharashtra will connect the Nagpur-Mumbai Samruddhi expressway corridor to the upcoming greenfield Vadhvan port, slated to be the country's biggest such facility, via the Nashik highway, the upcoming Delhi-Mumbai greenfield expressway corridor, the Mumbai-Ahmedabad highway, the under-construction bullet train corridor, and the coastal road that is planned to be extended up to the port."The Prosperity corridor will have up to 500 MW to 1,000 MW capacity solar plant along it with 200 MW starting soon, besides a huge gas pipeline that will supply PNG not only to cities but also to power ...Read More >
Mumbai: The birth of three penguin chicks at Mumbai's Veermata Jijabai Bhosale Udyan and Zoo has sparked an unexpected row not over their care, but their names. BJP functionary Nitin Bankar from the Byculla Assembly constituency has objected to the chicks being given English names, insisting they be named in Marathi instead. The BMC is expected to respond by June 10, after which Bankar will decide his next move. Speaking to The Free Press Journal, Bankar said, "When penguins were brought from abroad, we accepted that their names would be in English. But these chicks were born on the soil of M ...Read More >
Pointing to the increase in the country's stature in the world forum, he asked how, under these circumstances, the promises made to farmers cannot be fulfilled. "Policy-making is not on right track," he added.. Jagdeep Dhankhar's comments come amid a spike in farmer protests. Vice President Jagdeep Dhankhar took up the farmers' issue and questioned the government on their behalf today, directing most of his queries at the Union agriculture minister. Pointing to the increase in the country's sta ...Read More >
New Delhi: India's coal sector has registered a 5.88 per cent increase in production to 830.66 million tonnes (MT) during April 2024 to January 2025 of the current financial year, from 784.51 MT recorded during the same period of 2023-24, according to a Coal Ministry statement issued on Monday. The total coal production during January 2025 has reached 104.43 MT, reflecting a 4.38 per cent increase over 100.05 MT recorded during the corresponding period of the previous year. The contribution from captive, commercial, and other entities for January 2025 has also been particularly strong, with ...Read More >
Katra/Jammu, Jun 5 (PTI) Union minister Jitendra Singh on Thursday lauded Prime Minister Narendra Modi for ensuring a speedy completion of the Udhampur-Srinagar-Baramulla Railway Link (USBRL) project after taking office in 2014 and said it marks the beginning of a historic journey in setting up the world's highest railway bridge in Jammu and Kashmir. On Friday, Prime Minister Narendra Modi is scheduled to inaugurate the world's highest railway bridge over the Chenab river and the Anji Khad bridge, India's first cable-stayed bridge, before flagging off Vande Bharat trains to mark the completio ...Read More >
New Delhi, December 15: The 'One Nation, One Election' Bill, officially known as the Constitution (One Hundred and Twenty-Ninth Amendment) Bill, 2024, will not be tabled in the Lok Sabha on Monday. The Revised Business List of the Lower House for the day does not mention the Bill. The first list had scheduled the Bill for Monday. It mentioned, "... Arjun Ram Meghwal to move for leave to introduce a Bill further to amend the Constitution of India. Also to introduce the Bill." One Nation, One Election: Union Cabinet Approves Bills for Simultaneous Lok Sabha, State Assembly Elections, Say Source ...Read More >
KATRA, Jun 5: Lieutenant Governor Shri Manoj Sinha inspected arrangements in Katra on Thursday ahead of Hon'ble Prime Minister Shri Narendra Modi's scheduled Public Meeting on 06th June. The Lieutenant Governor reviewed the preparations to ensure the smooth conduct of the event and directed the officials for strict security, safety measures and seamless coordination among all departments. Hon'ble Prime Minister will dedicate the iconic Chenab Bridge, the tallest railway bridge in the world, Country's first cable-stayed Anji rail bridge and Udhampur-Srinagar-Baramulla Rail Link (USBRL) project ...Read More >
New Delhi: The annual all-India conference of directors general of police and inspectors general of police will begin in Bhubaneswar on Friday where issues related to internal security, Jammu and Kashmir, and pro-Khalistan elements, among others are likely to be discussed, officials said. Prime Minister Narendra Modi, Union Home Minister Amit Shah and National Security Adviser (NSA) Ajit Doval, among others will attend the three-day conference where cyber crimes, challenges posed by AI tools and threats emanating from drones are also expected to be discussed. About 250 officers of DGP and IGP ...Read More >
New Delhi, Dec 12 (PTI) The government on Thursday came out with the definition of green steel and asked the industry to take measures to bring down carbon emissions below the level of 2.2 tonnes on per tonne of finished products. Union Steel Minister H D Kumaraswamy also released a 'taxonomy on green steel' with parameters for giving star ratings on products based on the amount of carbon dioxide (CO2) emitted during the production process. The steel industry has been the backbone of India's industrial growth and it is imperative that this vital sector undergoes a transformative shift towards ...Read More >
Chennai: The capacity utilisation of the domestic steel industry is set to drop to 78 per cent for the first time in four years. In order to check unprecedented imports, the government is considering imposing a 25 per cent duty on steel imports. Cheaper imports from China and countries under Free Trade Agreement along with ongoing capacity addition can lead to capacity utilisation of domestic steel mills dropping from 85 per cent in FY2024 to an estimated 78 per cent in the current fiscal, the lowest we have seen in the last four years. The domestic steel industry witnessed an all-time high ...Read More >
Katra (Jammu and Kashmir) [India], June 5 (ANI): Jammu and Kashmir Chief Minister Omar Abdullah and Union Minister Jitendra Singh inspected the Katra railway station and the Vande Bharat train on Thursday ahead of Prime Minister Narendra Modi's visit on June 6. PM Modi will flag off the first Vande Bharat train to Kashmir on Friday. CM Omar Abdullah said, 'If I tell you that I have been waiting for this moment for a long time, it will still not be enough. This rail project began when I was in the 7th or 8th class. Now, even my children have started working after completing school and college ...Read More >
New Delhi, Dec 12 (PTI) The Union Cabinet on Thursday approved bills to implement 'One Nation, One Election', and the draft legislations are likely to be introduced in Parliament in the ongoing Winter session, sources said. The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi. The government is keen on holding wider consultations on bills which are likely to be referred to a parliamentary committee. Sources said the government was also keen to consult the Speakers of various state legislative assemblies through the committee. Moving ahead with it ...Read More >
Srinagar, June 05: Prime Minister Narendra Modi on Thursday said that June 6 is indeed a special day for my sisters and brother of Jammu and Kashmir as key infrastructure projects worth Rs 46,000 crore are being inaugurated including Udhampur-Baramulla-Srinagar Rail Link (USBRL) project. The PM Modi said USBRL project will ensures all weather connectivity and the Vande Bharat trains from Shri Mata Vaishno Devi Katra to Srinagar will boost spiritual tourism and create livelihood opportunities. In a post on X (formerly Twitter), Prime Minister Modi said: "Tomorrow, 6th June is indeed a special ...Read More >
Sample of Earth Minerals. (Representative) Quick Read Summary is AI generated, newsroom reviewed. India is negotiating with companies to create long-term rare earth magnet stockpiles. The initiative aims to reduce dependence on China, which controls 90% of magnet processing globally. The government is considering fiscal incentives to boost domestic production of rare earth magnets. New Delhi: India is holding talks with companies to establish long-term stockpiles of rare earth magnets by offering fiscal incentives for domestic production, people familiar with the matter said. Building ...Read More >
The Indian government has announced a 375km rail network expansion, aimed at enhancing economic growth and connectivity in North Maharashtra, Madhya Pradesh, and Uttar Pradesh. With a total cost of approximately Rs79.27bn ($1.05bn), these projects are aimed to be completed within four years. Union Minister of Railways, Ashwini Vaishnaw, detailed the Cabinet Committee on Economic Affairs' approval of three railway infrastructure projects. The projects include the Jalgaon-Manmad fourth line (160 km), Bhusawal-Khandwa third and fourth lines (131km), and the Prayagraj (Iradatganj)-Manikpur thir ...Read More >
HONG KONG SAR - Media OutReach Newswire - 2 December 2024 - Long recognised as a land of luxury, Hong Kong has levelled up its luxury hub appeal following the Leaders of Luxury Summit 2024. Organised by Robb Report Hong Kong, the summit brought together luxury industry titans to discuss pivotal topics that "Redefine Luxury Through a Global Lens" at Regent Hong Kong on November 26-28, 2024. According to the latest "2024 Billionaire Census" report from Altrata, the city is currently world's no. 2 with the highest number of billionaires. The city is expected to have 22.4% more ultra-high-net-wor ...Read More >
NDIA bloc leaders, who submitted a notice of no-confidence motion against the Rajya Sabha Chairman Jagdeep Dhankhar on Wednesday, blamed the chair for not allowing them to speak in the Rajya Sabha. The leaders held a joint press conference labelling several charges against the chairman. "His behaviour (RS chairman) has damaged the dignity of the country. He has brought such a situation in the history of parliamentary democracy that we had to bring this notice for the resolution (of no confidence ...Read More >
Prime Minister Narendra Modi on Saturday said his government's policies and decisions were aimed at boosting India's strength and unity in line with the Constitution, while the opposition Congress had "tasted blood" by repeatedly wounding it.Prime Minister Narendra Modi on Saturday said his government's policies and decisions were aimed at boosting India's strength and unity in line with the Constitution, while the opposition Congress had "tasted blood" by repeatedly wounding it. Replying to a t ...Read More >
MUMBAI/LUCKNOW: Backing the call for a uniform civil code in India, Uttar Pradesh CM Yogi Adityanath quoted on Sunday a recent statement by Allahabad HC judge Shekhar Kumar Yadav at an event in Mumbai to assert that "majority sentiments are respected globally". Speaking at a the World Hindu Economic Forum-2024 event in Mumbai, the CM attacked the Congress-headed opposition, saying that by the implementation of the Uniform Civil Code the difference between majority and minority communities needs ...Read More >
Credit: AP | The Vande Bharat Express train arrives at Srinagar railway station during a trial run ahead of its inauguration, which will connect the Kashmir Valley with the rest of India, on the outskirts of Srinagar Katra to Srinagar Vande Bharat Express: The upcoming Katra to Srinagar Vande Bharat Express is set to revolutionise travel in Jammu and Kashmir. This semi-high-speed train service will offer faster, more efficient connectivity between Shri Mata Vaishno Devi Katra (SVDK) and Srinagar, reducing the travel time drastically compared to road journeys. The Vande Bharat Express will co ...Read More >
New Delhi, June 5 (SocialNews.XYZ) Union Minister Ashwini Vaishnaw on Thursday described the Chenab Bridge built on the Jammu and Srinagar railway line as an engineering marvel, saying that it has been designed to tackle winds up to 260 kilometres per hour and falls in Seismic Zone 5. Talking to reporters about the unique features of the bridge, the Union Minister said its design is very complicated and its foundation is equal to half a football field. About 30,000 tonnes of steel have been used to build this bridge, which is now touted as the world's highest railway arch bridge. Prime Mini ...Read More >
The University of Bath is named one of the world's top 150 universities by the QS World University Rankings 2025 Offering leading MSc programmes, the University of Bath School of Management excels in combining world-class education with real-world learning opportunities. The University of Bath's School of Management is rapidly gaining international recognition as one of the United Kingdom's premier business schools. This prestigious university is first in Marketing, second in Accounting and Finance, second in Business and Management Studies in the UK according to The Complete University Guid ...Read More >
Tata Steel is bolstering its iron ore supply for its planned 40 MTPA steel production by 2030. With four mine leases expiring in 2030, the company is operationalizing two new mines and negotiating with NMDC and OMC for additional ore. These strategies aim to secure the over 60 MT of iron ore required for the expanded steel capacity.Tata Steel has initiated discussions with state-run miners NMDC and Odisha Mining Corporation (OMC) to secure future iron ore supplies as the company ramps up its dome ...Read More >
In India - the world's largest film-producing country, only 31% of films and series meet key gender equality metrics. The fact that women hold just 12% of the analyzed leadership roles in top 25 entertainment firms is a real eye-opener. These numbers are from the O Womaniya!2024 Report - the most definitive study on female representation in Indian entertainment, championed by Prime Video, researched by Ormax Media, and produced by Film Companion Studios. The report reveals a harsh truth about Indian entertainment: the industry is known for shaping narratives and influencing societal norms, ye ...Read More >
New Delhi, Jan 14 (PTI) The National Turmeric Board will help develop new markets internationally to promote exports and double production to about 20 lakh tonnes in the next five years, Commerce and Industry Minister Piyush Goyal said on Tuesday. Inaugurating the Board, he also said that it would promote research and development into new products and develop on the country's traditional knowledge for value-added turmeric products. "Turmeric is also called as golden spice. India accounts for 70 per cent of global turmeric production... We are looking to double the production to 20 lakh tonne ...Read More >
West Bengal [India], February 5 (ANI): At the 8th edition of the Bengal Global Business Summit 2025, Bhutanese Minister Younten Phuntsho emphasised the importance of the summit as a platform for strengthening the collaboration between India and Bhutan. Addressing the audience, he said, "For Bhutan, this summit is an opportunity to further deepen our (India-Bhutan) collaboration and identify strategic areas where our shared aspirations align. There are several key areas where we can forge even stronger partnership - first is tourism, we invite investors to explore opportunities in wellness tou ...Read More >
The steelmaker informed that it will reduce 5,000 jobs by 2030 and a further 6,000 jobs will be let go of via the sale of business activities or transfer to external service providers.Source : Thyssenkrupp Thyssenkrupp Steel Europe (TKSE) is planning to slash its workforce by roughly 40 per cent, the firm said on Monday. The steelmaker is looking to layoff nearly 11,000 workers as it announced a major restructuring move. The firm is a division of Thyssenkrupp AG and is the largest steelmaker in Germany. It has been facing pressure from cheaper Asian competitors, increasing power prices, and ...Read More >
Cloud-based testing platform LambdaTest has secured $38 million in a funding round led by Avataar Ventures, with Qualcomm Ventures also participating. The fresh funding comes after a gap of more than 30 months for the Noida and San Francisco-based startup. This latest round brings the company's total funding to $108 million, including a $45 million round in March 2022. Its early backers include Premji Invest, Peak XV, Telstra Ventures, Blume Ventures, and Leo Capital. LambdaTest was part of the ...Read More >
New Delhi, Dec 11 (PTI) India's maritime sector is poised to play a transformative role in the country's vision of becoming world's third-largest economy, Vice President Jagdeep Dhankhar said Wednesday. Today, India stands as an emerging maritime powerhouse, strategically leveraging its geographical location and advanced infrastructure to spearhead global maritime initiatives, the Vice President said. "With the global blue economy projected to reach USD 6 trillion by 2030, India's maritime sector stands poised to play a transformative role in our emergence as the world's third-largest econom ...Read More >