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.
MOSCOW (Reuters) - Sanctions imposed by the United States on Russia's third largest lender Gazprombank, which handles the energy trade, are behind the rouble's free fall in recent days, a top executive from VTB, Russia's second largest bank, said on Wednesday. "My assumption is that the sanctions against Gazprombank have had a significant impact, as it has ceased to be a channel for delivering foreign currency to the Moscow Exchange," Dmitry Pyanov told reporters. Pyanov added that stabilisation of the forex market within the next few days should be the focus of the central bank's attention.
NEW DELHI (Reuters) - India's retail inflation eased in November as soaring vegetable prices moderated, boosting expectations of an interest rate cut by the central bank at its next policy review amid concerns around slowing growth. Retail inflation eased in November to 5.48%, lower than 6.21% in the previous month and below a 5.53% forecast by economists in a Reuters poll. Food inflation slowed down to 9.04% from 10.87% a month earlier. Food accounts for nearly half of the consumption basket. Vegetable prices rose 29.33% in November from a year earlier after rising 42.18% in October. Indi ...Read More >
Mumbai, Feb 10: The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but eventually settled at 87.45, up 5 paise, following RBI intervention. The American currency gained in the overseas market after US President Donald Trump's plans to impose 25 per cent tariffs on steel and aluminum imports, along with reciprocal tariffs targeting countries taxing US exports. The move has added jitters over the global trade war with China's reciprocal duties coming into effect, they said. At the interban ...Read More >
Friday, 6 June 2025 () India's foreign exchange reserves decreased by $1.24 billion to $691.49 billion in the week ending May 30, according to RBI data. Despite this dip, the central bank assures that the reserve buffer remains strong, covering 11 months of imports and a significant portion of external debt. Foreign currency assets fell, while gold holdings increased, nearly doubling their share since 2021. ...Read More >
Mumbai, Jul 3 (PTI) The rupee depreciated 8 paise to 85.70 against the US dollar in early trade on Thursday amid renewed headwinds from global risk sentiment and persistent foreign fund outflows. Forex traders said the rupee was trading in a narrow range largely due to RBI's cautious strategy as any dip in USD-INR is likely to be met with dollar buying by the RBI, not only to manage maturities but also to rebuild its intervention cushion. This persistent demand for dollars by the central bank is limiting the gains for the rupee, they said. At the interbank foreign exchange, the domestic uni ...Read More >
India's Latest Forex Reserves: India's foreign exchange reserves rose sharply by $4.84 billion to $702.78 billion in the week ended June 27, bringing them within striking distance of the all-time-high level of $704.89 billion recorded in end-September 2024, according to the latest data released by the Reserve Bank of India (RBI). This marks a strong rebound from late January levels, when reserves had fallen to a multi-month low of around $624 billion. The gain was led by an increase in foreign currency assets, while gold reserves declined. The value of gold reserves fell $1.23 billion to $84 ...Read More >
July 14 (Reuters) - India's annual retail inflation (INCPIY=ECI), opens new tab slowed to a more than six-year low of 2.10% in June, near the lower range of the central bank's tolerance band, as food prices continued to ease, making a case for further interest rate cuts. Inflation was lower than the 2.5% estimated by economists in a Reuters poll. Retail inflation was at 2.82% in May. COMMENTARY: GAURA SEN GUPTA, CHIEF ECONOMIST, IDFC FIRST BANK, MUMBAI "The moderation in inflation is led by a decline in food inflation. Core inflation remains range-bound at 4.5%. The outlook for inflation r ...Read More >
NEW DELHI (Reuters) -India's iron ore imports are expected to rise this year, driven by increased demand from JSW Steel, the country's largest steelmaker by capacity, as falling global prices make overseas purchases more attractive, traders and analysts said. "We expect this year's iron ore imports to be around 8-10 million metric tons, largely by JSW Steel," said Dhruv Goel, chief executive of commodities consultancy BigMint. India's iron ore imports totalled around 6 million tons last year, with JSW Steel accounting for most of them, Goel said. A drop in global prices to below $90 per met ...Read More >
[MUMBAI] The Reserve Bank of India (RBI) cut its key repo rate by a larger-than-expected 50 basis points on Friday, a third consecutive reduction, and slashed the reserve ratio for banks as muted inflation provided space for policymakers to focus on supporting economic growth. The Monetary Policy Committee (MPC), which consists of three RBI officials and three external members, cut the repo rate to 5.50 per cent. It has now cut rates by 100 basis points in 2025, starting with a quarter-point reduction in February, its first cut since May 2020. It made a similar-sized cut in April. The RBI al ...Read More >
Hyderabad, July 18 (UNI) In view of the ongoing heavy rains in Hyderabad, Chief Minister A Revanth Reddy has directed all concerned departments to stay on high alert and ensure swift response to public grievances. The Chief Minister instructed officials from GHMC, HMDA, Water Works, Electricity, and Police departments to work in close coordination to prevent any rain-related disruptions. He also emphasised the need for immediate action in areas facing waterlogging, power outages, or other rain-induced issues. CM Revanth Reddy further directed the deployment of SDRF, NDRF, Hydra teams, and ot ...Read More >
Mumbai, Jun 27 (PTI) India's external debt increased by 10 per cent to USD 736.3 billion at the end of March 2025 compared to USD 668.8 billion in the year-ago period, the Reserve Bank said on Friday. As a percentage of the GDP, the external debt increased to 19.1 per cent at the end of the recently concluded financial year from 18.5 per cent a year ago, it added. In a year which saw some volatilities in the currency markets, the RBI said the "valuation effect" due to the appreciation of the US dollar against the rupee and other currencies amounted to USD 5.3 billion, while if one were to ex ...Read More >
June 30 (Reuters) - Futures tracking the S&P 500 and Nasdaq touched record highs on Monday, as optimism over U.S. trade negotiations with its key partners helped support upward momentum in markets. Shares of technology heavyweights rose premarket after Canada scrapped its digital services tax targeting U.S. tech firms, just hours before it was due to take effect, in a bid to advance stalled trade negotiations with the United States. Shares of Amazon (AMZN.O), opens new tab, Meta Platforms (META ...Read More >
Mumbai (Maharashtra) [India], July 20 (ANI): India's foreign exchange reserves fell by USD 3.06 billion to USD 696.67 billion for the week ending July 11, marking the second straight week of decline, according to the official data released by the Reserve Bank of India (RBI). In the previous reporting week of July 4, the country's forex reserves witnessed a slip of USD 3.049 billion to USD 699.736 billion. Also Read | Kolkata Fatafat Result Today: Kolkata FF Result for July 20, 2025 Declared, Check Winning Numbers and Result Chart of Satta Matka-Type Lottery Game. In the week ending July 11, ...Read More >
NEW DELHI, June 2 (Reuters) - India's key iron ore producer NMDC (NMDC.NS), opens new tab is testing a new pricing formula for its output to shield its profits from the volatilities reflected in global benchmarks, a source with direct knowledge of the matter told Reuters. State-run NMDC, which sells its output locally, currently releases monthly iron ore prices linked to inventories, international prices and domestic market dynamics. The company plans to launch the new formula after initial trials, the source said, declining to be identified as the plan is not public yet. "We are taking bab ...Read More >
Katra: Prime Minister Narendra Modi visited Jammu and Kashmir on Friday to inaugurate multiple rail projects, including the world's highest Chenab Rail Bridge, the Anji Khad Bridge, and the Katra-Srinagar Vande Bharat Express, as part of the Udhampur-Srinagar-Baramulla Rail Link. These railway projects directly connect Jammu and Kashmir to the rest of the country. The Udhampur-Srinagar-Baramulla Rail Link is an all-weather railway corridor designed to provide seamless connectivity to the region through the rail network. During his visit, PM Modi reviewed the Chenab bridge, world's highest ra ...Read More >
Mumbai, Jul 1 (PTI) Rupee appreciated 17 paise to close at 85.59 against the US dollar on Tuesday, supported by weakness of the American currency in the overseas market and a positive tone in the domestic equities amid rise in risk appetite. Forex traders said the US dollar is trading at lowest levels since February 2022 as President Donald Trump's growing influence on Federal Reserve policy revived fears over the central bank's independence. Moreover, Brent crude prices remained subdued, offering a buffer to India's import bill and helping cool inflation. At the interbank foreign exchange, ...Read More >
MUMBAI (Reuters) -The Indian rupee is expected to open lower on Wednesday, tracking declines in most other Asian currencies and equities amid renewed worries over U.S. President Donald Trump's tariffs. The 1-month non-deliverable forward indicated a open in the 85.62-85.64 range, versus 85.52 on Tuesday. The rupee has been largely range bound in recent sessions, holding between the key support zone at 85.90-86.00 and resistance near 85.30. "Both of these levels are difficult to break," a currency trader at a bank said. "You'll likely have to wait until July 9 for a decisive move, and that's ...Read More >
MUMBAI, July 3 (Reuters) - The Indian rupee touched its strongest level in a month on Thursday, lifted by dollar sales from foreign banks and cutting of bearish bets on the local currency, while optimism surrounding a U.S.-India trade deal also aided sentiment. The rupee rose to a peak of 85.20, its best level since late May, before ending the session at 85.31, up 0.4% on the day. Dollar sales from foreign banks in the latter half of Thursday's session boosted the rupee, with the rise above 85.40 also triggering stop-losses on some wagers against the currency, traders said. Asian currencies ...Read More >
MUMBAI (Reuters) -India's current account posted a surplus for the first time in four quarters in the January-March period, helped by higher services exports, the central bank said on Friday. The current account surplus stood at $13.5 billion, or 1.3% of GDP in the fourth quarter of the fiscal year 2024-2025 versus the polled estimate of $8.5 billion, or 0.9% of GDP. The surplus compares with a deficit of $11.3 billion or 1.1% of GDP in the preceding quarter, the Reserve Bank of India said in a statement. The current account had registered a surplus of $4.6 billion or 0.5% of GDP in the same ...Read More >
Mumbai (Maharashtra) [India], August 3 (ANI): India's foreign exchange reserves rose by USD 2.703 billion to USD 698.192 billion for the week ending July 25, after falling for three consecutive weeks, according to the official data released by the Reserve Bank of India (RBI). In the previous reporting week, the country's foreign exchange reserves fell by USD 1.18 billion to USD 695.49 billion. In the week ending July 25, foreign currency assets, the major constituent of the forex reserves, rose USD 1.316 billion, at USD 588.926 billion, possibly becoming the primary reason for the uptick in ...Read More >
NEW DELHI: Amid worsening weather conditions and continuous rainfall in parts of Uttar Pradesh, all government and private schools from Classes 1 to 12 in Lucknow will remain closed on Monday, according to district magistrate Visakh G Iyer.Several parts of Varanasi were inundated on Monday following relentless downpours and a steady rise in the water level of the River Ganga. The river has been rising continuously since Saturday, triggering concerns of urban flooding.In response, authorities have suspended all boat operations on the Ganga as a precautionary measure. Several residents were seen ...Read More >
New Delhi: Traffic in central Delhi will be affected on Thursday as the traffic police has issued an advisory due to the Janmashtami and Tazia processions.According to police, the traffic movement in Paharganj is likely to be affected from 1.30pm in view of the shobha yatra for Janmashtami and the Tazia procession.The Janmashtami procession will start from Mandir Shri Banke Bihari Ji in Paharganj's Sangatrasan Bazar and pass through Desh Bandhu Gupta Road, Chuna Mandi, Main Bazar, Munja Chowk and Arakashan Road. The Tazia procession will start from Ajmeri Gate and proceed through Pul Paharganj ...Read More >
By Hritam Mukherjee and Nidhi Verma NEW DELHI (Reuters) -India will continue to buy Russian oil as it proves economical, its finance minister said on Friday, despite the Trump administration's decision to impose heavy import tariffs on Indian goods due, in part, to its energy purchases from Moscow. As Europe and the U.S. have shunned Russian oil over Moscow's 2022 invasion of Ukraine, India has taken advantage of discounts on Russian output to become the largest buyer of Russian seaborne crude. New Delhi has said its purchases of Russian oil have kept the markets in balance. U.S. President ...Read More >
MUMBAI, June 6 (Reuters) - The Reserve Bank of India cut its key repo rate by a larger-than-expected 50 basis points on Friday to focus on supporting economic growth. The Monetary Policy Committee (MPC), which consists of three RBI officials and three external members, cut the repo rate (INREPO=ECI), opens new tab to 5.50%. It also changed the monetary policy stance to neutral from accommodative. The RBI cut the standing deposit facility rate to 5.25% and adjusted the marginal standing facility to 5.75%. It also cut the cash reserve ratio by 100 basis points to 3%, adding to already surplu ...Read More >
July 17 (Reuters) - Futures tracking the Nasdaq and the S&P 500 rose on Thursday, as strong results from Taiwan's TSMC boosted chipmakers after a rollercoaster session marked by concerns about the Federal Reserve's independence. At 5:45 a.m. ET, Dow E-minis were down 24 points, or 0.05%, S&P 500 E-minis were up 5.75 points, or 0.1%, and Nasdaq 100 E-minis were up 41.25 points, or 0.18%. U.S. chipmakers rose in premarket trading after TSMC (2330.TW), opens new tab, the world's main producer of a ...Read More >
Aug 14 (Reuters) - Gold extended gains to a third straight session on Thursday, supported by rising expectations of an interest rate cut by the U.S. Federal Reserve in September following tame inflation data, which also weighed on the dollar. Spot gold rose 0.4% to $3,367.53 per ounce as of 0156 GMT. U.S. gold futures for December delivery added 0.3% to $3,416.70. "Markets are pricing in the chance that the Fed cuts 50 basis points in September. So the dollar's weakening, gold's going up as a r ...Read More >
Being denominated in US dollars in the international market, gold's price in India is highly sensitive to movements in the rupee-dollar exchange rate.Source : PTI Gold prices in Chennai softened marginally on Thursday, with 22-karat gold now retailing at Rs 9,290 per gram and 24-karat gold at Rs 10,135 per gram. The minor drop comes in line with price trends observed in other parts of the country, influenced by fluctuations in global bullion markets and currency exchange rates. India's reliance ...Read More >
MUMBAI (Reuters): The Indian rupee weakened to its lifetime low on Tuesday, hurt by concerns about a widening trade deficit and likely outflows from local equities, although intervention by the central bank capped losses. The rupee hit a low of 84.93 against the US dollar, before closing at 84.8950, down 0.04% on the day. Benchmark Indian equity indexes BSE Sensex and Nifty 50, closed lower by over 1% each, dragged by weakness in financial stocks and Reliance Industries. Investor sentiment was also dampened after data on Monday showed that India's merchandise trade deficit rose to a record h ...Read More >
MUMBAI(Reuters) -The Indian rupee rose on Thursday after weak U.S. jobs data bolstered Fed rate cut bets, while a U.S.-Vietnam trade deal lifted regional sentiment. Dollar-rupee forward premiums were helped by increased odds of rate cuts by the U.S. central bank as well with the 1-year implied yield touching an over one-month peak. The rupee rose to 85.55 as of 11:30 a.m. IST, up 0.2% on the day. Asian currencies were mostly rangebound while regional equities traded in the green, with India's benchmark indices, the BSE Sensex and Nifty 50 up about 0.4% each. The odds of a Fed rate cut in J ...Read More >
MUMBAI (Reuters) -A slump in India's retail inflation to six-year lows and a likely drop to a record low in July is prompting calls for at least one more interest rate cut this year, with many analysts saying the sharp disinflation is also a sign of weakening demand. The drop in June headline inflation is accompanied by low core inflation, which, excluding gold, silver and fuel prices, remains below 4%, suggesting softer underlying consumption which may need more support from monetary policy, analysts say. The Reserve Bank of India cut interest rates by a deeper-than-expected 50 basis points ...Read More >
July 18 (Reuters) - Gold traded flat on Friday and was headed for a weekly fall, weighed down by an overall stronger dollar and solid U.S. economic data, while platinum scaled its highest level since August 2014. Spot gold was unchanged at $3,337.59 per ounce, as of 0156 GMT. U.S. gold futures eased 0.1% to $3,343.20. Bullion has declined 0.5% so far this week. The dollar edged 0.1% lower against its rivals on Friday, but was headed for a second straight weekly gain. A stronger dollar makes gre ...Read More >