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.
Gandhinagar (Gujarat) [India], June 27 (ANI): Infosys founder NR Narayana Murthy visited the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar on Friday and lauded the rapid progress being made, expressing appreciation for the world-class infrastructure and the growing number of international companies establishing operations there. During his visit, he held a detailed meeting with GIFT City Chairman Hasmukh Adhia, GIFT City Managing Director and Group CEO Tapan Ray, and K Rajaraman, Chairman of the International Financial Services Centres Authority (IFSCA). Also Read | PM Narendra Modi To Inaugurate Centenary Celebrations of Acharya Shri 108 Vidyanand Ji Maharaj at Vigyan Bhawan on June 28. According to a press release, Murthy was briefed on the wide range of initiatives and developments currently underway at GIFT City. He noted that such developments are critical to positioning GIFT City as a global hub for financial and technology services, as well as fintech innovation. In his interaction, Murthy also shared insightful suggestions on further strengthening the overall ecosystem. He emphasised the need to create an environment that fosters innovation and deepening collaboration between academia and industry to support GIFT City's long-term growth as a fintech powerhouse. Also Read | Kolkata Gang-Rape Case: TMC's Shashi Panja Urges BJP To Behave As Responsible Opposition in Aftermath of Gang Rape in Kasba Law College, Assures Strict Action Against All Accused (Watch Video). As part of his visit, Murthy also interacted with students of Jamnabai Narsee School, Deakin University, and the University of Wollongong at GIFT City. He encouraged them to dream big, work hard, and strive for excellence in all their pursuits, inspiring the next generation of leaders and innovators. Notably, Infosys has set up a new development centre at GIFT City, which was inaugurated on June 7 this year. This centre will offer a state-of-the-art facility for over 1,000 employees in a hybrid working model. It will function as a key TechFin hub, delivering advanced digital solutions for global BFSI clients. Its services will span critical domains, including digital banking, regulatory affairs, trade finance, capital markets, cards and payments, as well as risk and compliance management. Meanwhile, Murthy addressed the gathering during an event at IIT Ahmedabad, advocating for incentives for people who excel in their work and stating that such individuals need to be encouraged. "To provide an opportunity to people who excel in whatever they do, you need incentives. At this point, thanks to the PM, we have lofty ambitions and big dreams. Everyone accepts that we should encourage anyone who excels in any area or on any occasion. Therefore, scholarships become a very important tool of recognition, and they are necessary if we want youngsters to excel in whatever they do," Murthy said. GIFT City, India's first operational smart city and maiden International Financial Services Centre (IFSC), is a global financial and IT services hub, a first of its kind in India, designed to be at or above par with globally benchmarked business districts. As a leading Central Business District (CBD), GIFT City offers significant advantages such as reduced operational costs, favourable tax policies, and a vibrant community, making it the top choice for global and domestic companies in BFSI, IT/ITeS, fintech, international education, and other service sectors. A 'Project of National Importance', GIFT City encompasses office spaces, residential areas, schools, hospitals, hotels, clubs, retail outlets, and recreational facilities, creating a truly 'walk-to-work' environment. Pioneering innovations and sustainable solutions implemented in GIFT City, such as the District Cooling System, Automated Waste Collection System, and Utility Tunnel, have set new standards in urban development. (ANI) (This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)
Pune (Maharashtra) [India], November 19 (ANI): With the Maharashtra elections approaching, wrestler and Congress MLA from Haryana's Julana, Vinesh Phogat, held a roadshow in Pune to support Congress candidate Datta Bahirat from the Shivajinagar Assembly constituency. She urged voters to ensure a victory for the Maha Vikas Aghadi (MVA), criticising the Mahayuti government for "injustice" by toppling the government elected by the people. "Everything is going well... If people shower their blessings on us on the 20th, we will win with a bigger margin this time. I appeal to voters to respond to ...Read More >
New Delhi [India], November 26 (ANI): Spiritual guru and founder of the Isha Foundation, Sadhguru, on Tuesday came out strongly and expressed grave concern over the arrest of Chinmoy Krishna Das, a prominent ISKCON leader in Bangladesh. Taking to social media platform X, Sadhguru highlighted the shift from a democratic to a theocratic and autocratic system in Bangladesh, stressing the importance of understanding the value of an open democracy. He pointed out that persecution based on religion or demographic weaknesses is not in line with democratic ideals. Also Read | UK Horror: Transgender ...Read More >
Vijayawada: Andhra Pradesh Chief Minister N. Chandrababu Naidu on Tuesday instructed officials to formulate proposals for constructing an iconic Deep-Technology building in the capital city of Amaravati. "I had built Hi-Tech City structure in Hyderabad to promote information technology. Now, it is time to embrace Deep-Tech and Artificial Intelligence to take advantage of the opportunities arising out of the latest technology," he underlined while reviewing the New IT Policy at the state secretariat. The Chief Minister announced that the state government will provide Rs 25 lakh as seed fundin ...Read More >
Story so far: India celebrated its 75th year of adoption of its Constitution on Tuesday (November 26, 2024) with President Droupadi Murmu addressing a joint session of parliament. While the Constitution of India hits its diamond jubilee this year, event commemorating is as 'Constitution Day' was started only in 2015. Prior to this, it was called 'National Law Day' -- first initiated by former Supreme Court Bar Association (SCBA) president Laxmi Mall Singhvi in 1979. "The Indian Constitution is a live, progressive document," said Ms. Murmu adding, "I urge all citizens to imbibe the constitutio ...Read More >
Srinagar, Nov 27 (UNI) Jammu and Kashmir's Road Transport Corporation (RTC), a crucial backbone of public transportation, has raised serious concerns over the barring of its buses from entering Srinagar city limits. The move has triggered alarm within the Corporation, with officials cautioning about significant disruptions to public transport services and daily commutes, alongside substantial financial losses for the RTC. The restriction, in effect since November 4 when the maiden session of the Assembly commenced, is causing a daily revenue loss of Rs. 4 lakh to the Corporation. In a lette ...Read More >
Congress MP Ranjeet Ranjan has called for the replacement of Electronic Voting Machines (EVMs) with ballot papers, citing concerns over the legitimacy of election results. Ranjan raised doubts about the EVM's accuracy, suggesting that the results may be influenced and advocating for a ballot paper system like many other countries. Congress President Mallikarjun Kharge also echoed similar sentiments, accusing EVMs of wasting votes from marginalized communities. This comes after the Congress' defeat in the Maharashtra Assembly election. The Supreme Court, however, dismissed a petition seeking th ...Read More >
Ahmedabad (Gujarat) [India], December 2 (ANI): Ambuja Cements has taken a step toward achieving its Net Zero goals. The company has partnered with Finland-based technology leader Coolbrook to implement its proprietary RotoDynamic Heater (RDH) technology. According to the exchange filing, this cutting-edge, zero-carbon heating solution, powered by renewable electricity, will drastically reduce the company's dependence on fossil fuels and lower its carbon emissions, aligning with its sustainability vision. Ambuja Cements will significantly reduce its fossil fuel dependence by harnessing renewa ...Read More >
Hit by economic slowdown and poor infrastructure, industrialists from Jharkhand's key industrial districts -- East Singhbhum, West Singhbhum, and Seraikela-Kharsawan -- are looking to the newly formed state government for revival and support. The industrial zones of Adityapur, Gamharia, Kandra, and Chandil have been grappling with inadequate infrastructure, including poorly maintained roads, lack of bridges, erratic water supply, and unreliable power. Entrepreneurs in these regions hope the new administration will address these issues and work toward improving the state's industrial ecosystem ...Read More >
CoinEx Charity's Starlink Program, under its "Bridge to Hope" initiative, has launched its first Starlink unit in the Philippines, aiming to bring high-speed satellite internet to remote areas. The first deployment in EB Magalona, Negros Occidental, enhances access to education, economic opportunities, and essential services. Mayor Marvin Malacon highlighted plans for educational seminars on blockchain and cryptocurrency. CoinEx Charity, established in 2022, focuses on global charitable efforts, while CoinEx, a leading crypto exchange, offers user-friendly trading services to over 10 million u ...Read More >
New Delhi [India], November 18 (ANI): Bharatiya Janata Party leader and in-charge of the party's National IT Department, Amit Malviya, on Monday, criticised the Congress party's 'hypocrisy' over their stance on the Adani Group, pointing to past investments and agreements made with the corporate conglomerate by Congress-ruled states. Taking to social media platform X, Malviya referenced Telangana Chief Minister Revanth Reddy's recent "public admission of accepting money" from the Adani Group on November 10, 2024, pointing out that this acknowledgment contradicted Congress leader Rahul Gandhi's ...Read More >
Hyderabad (Telangana) [India] November 18 (ANI): Bharatiya Janata Party MP K Laxman slammed Telangana Chief Minister Revanth Reddy, accusing the Congress party of 'misleading' people. He further said that the people of Maharashtra know "how to teach a lesson" to Congress. "Revanth Reddy as a CM of Telangana and as a Congress leader is misleading the public. Maharashtra people are clever enough they know how to teach a lesson to these Congress people and Revanth Reddy you will come to know what has happened in Haryana that is going to be repeated in Maharashtra, and Jharkhand also," K Laxman ...Read More >
Bengaluru, November 27, 2024: SuperGaming's highly anticipated Indo-futuristic Battle Royale game, Indus, has achieved a significant milestone, surpassing 5 million downloads on the Google Play Store and over 100,000 installs on the iOS App Store. This remarkable feat solidifies its position as one of India's fastest-growing games. The title has also been recognized as the Best Made in India Game by Google Play in their prestigious Best of 2024 awards. Indus has captivated players with its distinctive Indo-futuristic world setting that seamlessly blends Indian culture with futuristic aestheti ...Read More >
The Maha Vikas Aghadi (MVA) coalition is now gearing up for a national protest after losing Maharashtra state elections. The Maha Vikas Aghadi (MVA) coalition, which suffered a crushing defeat in last week's Maharashtra state elections, is now gearing up for a national protest against the credibility of Electronic Voting Machines (EVMs), which it blames for its loss. The MVA, led by the Congress, Shiv Sena (Uddhav Thackeray faction), and the Nationalist Congress Party (NCP) (led by Sharad Pawar), is planning to challenge the use of EVMs in court and demand a return to ballot paper voting. Fo ...Read More >
The Supreme Court on Monday stayed further recovery of an outstanding tax demand from news portal NewsClick, directing the company's banker not to release any more money to the tax department based on a 2023 notice, and allowing the portal to use its two bank accounts for daily operations. The order was passed by a bench headed by justice BV Nagarathna on an application moved by PPK Newsclick Studio Limited, which alleged that ICICI Bank was not allowing the company to use its accounts despite a top court order to this effect passed on August 9. The tax department had raised the demand again ...Read More >
Infosys has announced an average 85% performance bonus for eligible employees in Q2 FY25, reflecting its strong financial performance. The bonus, paid to mid- and junior-level staff, will be credited with the November salaries, with individual payouts varying based on performance. This follows Infosys' impressive 4.7% rise in Q2 net profit and a revenue increase of 5.1%, leading to an upward revision of its FY25 revenue guidance. The bonus payout surpasses the previous quarter's 80%, with Infosys outpacing rivals like TCS. Employees are also awaiting salary hikes, with revisions expected from ...Read More >
Sunmei Hotels Group has announced the launch of Sunmei Group International (SGI) and three new overseas brands—SHANKEE, PENRO, and LANOU—marking its expansion into the UAE market. The company plans to introduce SHANKEE Hotels, a smart economy brand, to cities like Dubai, Abu Dhabi, and Riyadh. SGI focuses on smart marketing, modular renovations, and intelligent operations, leveraging big data and AI to enhance service and guest experiences. Chairman Ma Yingyao aims to open 100 hotels globally within the next decade, doubling revenue and establishing a strong international presence for Chinese ...Read More >
New Delhi [India], November 28 (ANI): India has expressed its concern over the escalating incidents of violence against Hindu minorities in Bangladesh and desecration, and damage to their places of worship, and has also called on the interim government there to ensure the safety of minorities. In a response to question asked by RJD MP AD Singh, Minister of State for Ministry of External Affairs, Kirit Vardhan Singh in a written reply to Rajya Sabha, stated that the "primary responsibility" for the protection of life and liberty of all citizens of Bangladesh, including minorities, "rests with ...Read More >
Samsung's facing a lot of crises and the company has unable to chart a clear path forward, particularly in the semiconductor market, where its foundry is lagging behind, its next-gen memory products are struggling to compete against SK Hynix, and legacy products are under pressure from Chinese companies. The company does a significant employee reshuffle across the entire organization every year. The process has started a bit earlier this time around as there's very much a sense of urgency to improve things. The reshuffle has reportedly seen some senior executives being fired as well. Samsung ...Read More >
Mumbai (Maharashtra) [India], November 28: Pioneering furniture fittings solutions brand Hettich India is proud to announce that it has been officially certified as a Great Place to Work, a recognition that celebrates the company's unwavering commitment to creating an ecosystem where everybody thrives. Also Read | Diljit Dosanjh Concert in Kolkata 2024: Planning to Attend Dil-Luminati Tour, Don't Miss These 5 Must-Try Local Foods. This honor is especially meaningful, with an overwhelming 95% participation from employees helping Hettich India. It reflects a shared commitment to creating a fam ...Read More >
Mumbai (Maharashtra) [India], November 29: Dr. Bharat Agravat (https://www.drbharat.agravat.com), renowned dentist and implantologist along with being an award-winning medical entrepreneur, is set to launch its flagship OLI Therapy services for the treatment of Oral Submucous Fibrosis in Mumbai soon at OSMF Clinic. His son, Dr. Kartavya Agravat, CEO of Dr. Agravat Healthcare Ltd, will assist him in this service. With the original chamber being in Ahmedabad, residents will now be at great advantage in receiving advanced oral care right there in Mumbai from the very hands of one of India's best ...Read More >
Anuj Kumar, Director & CEO of CAMS, highlights that despite recent market corrections, the company expects FY25 to be one of its strongest years. CAMS continues to dominate by winning 70-80% of new bids, focusing on execution and margin expansion, and anticipates significant revenue and profit growth driven by mutual funds and associated business lines.Anuj Kumar, Director & CEO, CAMS, says there has been some market correction and some flattening of the mood in the last two months. But as things come back, we should be holding our projections and FY25 should be one of the strongest years in t ...Read More >
The new circle rates in Gurugram have come into effect from December 1 Gurugram: People eyeing a home in Gurugram will now have to pay more as the district administration has hiked the circle rates by 10% to 30%, driven mainly by demand. Luxury residential areas like Golf Course Road are likely to see a 30% hike in circle rates. According to reports, the new circle rates have come into effect from December 1 and will be applicable at least till March 31 next year. The price hike, however, has irked the residents, who alleged that the administration should also "improve basic amenities". Gu ...Read More >
Chief Minister Mohan Yadav, campaigning to invite global investors to the Global Investors Summit to be held in Bhopal in February 2025, addressed an interactive session with industrialists during a roadshow in London, UK, on Tuesday. Yadav praised the dynamic leadership of Prime Minister Narendra Modi for the rapid industrial development seen across India. Inviting the industrialists to invest in Madhya Pradesh, he highlighted that the state possesses one of the largest land banks in the country. Madhya Pradesh has transparent and investor-friendly policies and is a leader in the mining and ...Read More >
Shinde accepts BJP's decision, likely to receive key ministries Shinde has agreed to BJP's decision to make a Chief Minister from its ranks. He is expected to be given important portfolios like Urban Development, Public Works Department, and Water Resources. Sources also say that two Deputy Chief Ministers will be appointed, one each from Shiv Sena and NCP. Pawar has told his party leaders that the swearing-in ceremony could take place this weekend. Despite initial resistance, Shinde announced his party's support for Prime Minister Narendra Modi and Home Minister Amit Shah's decision on the ...Read More >
HYDERABAD, India, Nov. 26, 2024 /PRNewswire/ -- IBSAT 2024, the proctored online aptitude test conducted by The ICFAI Foundation for Higher Education, is MBA aspirants' gateway to premier MBA, PGPM offered at nine ICFAI Business School (IBS) campuses. With applications closing in the third week of December, this is the perfect time for the candidates to secure their future with IBS and explore its Rs. 10 crore scholarship program. IBSAT is designed to reduce the stress on aspirants unlike CAT, XAT as the test does not have negative markings or sectional time limits, allowing candidates to foc ...Read More >
Defying pollsters, exit polls, and predictions, the BJP scored a hat trick in Haryana, albeit with a narrow lead in the recent Assembly election. It formed a government on its own sans any ally, and Chief Minister Nayab Singh Saini assumed office for a second consecutive term with relative ease. But the euphoria did not last long. In the first Assembly session convened after the new government took over, the opposition, led by the Congress and the electorally diminished Indian National Lok Dal, attacked the government on the issue of fertilizer shortages in the sowing season. The government d ...Read More >
By Shankar Bhaskaran, Managing Director - India, MetricStream In recent years, operational risk management (ORM) has garnered significant attention from banking and financial services (BFS) regulators. The increasingly unpredictable operational landscape -- characterised by fluctuating business prospects, a rise in regulations and updates, escalating service costs, and internal challenges such as operational lapses, fraud, and employee disengagement -- has created a pressing need for robust operational risk management strategies in BFS organisations. Fortunately, the leaders of BFS organisat ...Read More >
India's BFSI sector is rapidly evolving with digital transformation, creating new opportunities for the youth to merge financial knowledge with tech skills. As automation, AI, blockchain, and big data reshape the industry, India’s young workforce must be equipped with specialized skills to stay competitive. Roles in data analysis, AI, and cybersecurity are growing, and companies that invest in technology and upskilling will lead the market. While government programs aim to bridge the skills gap, a collaborative approach with educational institutions and financial organizations is key to ensuri ...Read More >
Amante Capital, KKR's dedicated European hospitality platform, will serve as managing partner to the joint venture LONDON--(BUSINESS WIRE)--Leading investment firms KKR and The Baupost Group today announced a joint venture to purchase a portfolio of 33 Marriott International (NASDAQ:MAR) hotels across the UK from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). Amante Capital, KKR's vertically integrated European hospitality platform, will serve as managing partner for the joint venture and the properties will continue as premium Marriott branded hotels. The portfolio ...Read More >
JAMMU, Nov 17: Lieutenant Governor, Manoj Sinha chaired a high-level meeting of senior civil, police officials and DCs, SSPs of Jammu Division to review the progress of development projects and security situation in the region. Follow the Daily Excelsior channel on WhatsApp The meeting was attended by Chief Secretary, Atal Dulloo; DGP, Nalin Prabhat; Principal Secretary, Home, Chandraker Bharti; ADGP (Law & Order) Vijay Kumar; ADGP, Jammu, Anand Jain; ADGP, CID, Nitish Kumar; Principal Secretary to Lieutenant Governor, Shri Mandeep Bhandari; Divisional Commissioner, Jammu, Ramesh Kumar; DIGs ...Read More >