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.
New Delhi: India and the United States are moving ahead with their trade discussions in Washington. The Indian delegation, led by Rajesh Agrawal, is in the US capital for the negotiations. Agrawal is a senior official in India's commerce department. Recently, another member from the Centre for Trade and Investment Law (CTIL) joined the Indian team to support the discussions. Sources close to the talks say that things are going smoothly. Both countries are trying to finalise an interim trade agreement before July 9, although there are a few tricky areas, especially agriculture and dairy. Tariff Pressure Building as Deadline Nears A key reason for the July 9 deadline is the 26% extra tariff the US had announced on Indian goods back on April 2. The US had paused that tariff for 90 days, but if no agreement is reached by July 9, the high tariffs will come back into effect. This extra tariff is on top of an existing 10% US import duty. India wants complete removal of this 26% extra tariff to protect its exports. Tough Talks Around Agriculture and Dairy The most difficult part of the talks is the US demand for access to India's agriculture and dairy markets. India is cautious in these areas because they directly impact millions of farmers and small producers. So far, India has never opened up its dairy market in any trade deal. The US also wants India to lower duties on items like electric cars, wines, petrochemicals, apples, and genetically modified crops. India Wants Better Access for Its Exports In return, India is pushing for lower US duties on Indian goods like textiles, gems, jewellery, leather items, garments, shrimp, bananas, grapes, and plastics. These are sectors that create lots of jobs in India. Both countries agree that more trade can help both economies. They want to increase their trade from the current USD 191 billion to USD 500 billion by 2030. Deal Likely in Two Stages Officials say that the current talks are for an interim pact, which would be the first step. A bigger and full bilateral trade agreement (BTA) is expected to be signed by fall this year, around September or October. The US negotiation team had visited India from June 5 to 11, and both sides plan to continue talks virtually and in person in the coming weeks. Trade Numbers Growing India's exports to the US grew by 21.78% to USD 17.25 billion in April-May this financial year. Imports from the US also went up by 25.8% to USD 8.87 billion, showing strong trade interest on both sides.
India's manufacturing sector growth fell to a joint 11-month low, restricted by competitive conditions and inflationary pressures India's manufacturing sector growth fell to a joint 11-month low of 56.5 in November, restricted by competitive conditions and inflationary pressures amid a softer increase in factory orders, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in October to 56.5 in November, signalling a softer improvement in the health of the sector. However, the pace of growth remained above its long-r ...Read More >
The Reserve Bank of India raised the interest rate caps on Foreign Currency Non-Resident Bank (FCNR-B) deposits to attract more capital inflows, amid pressures on the rupee. Starting December 6, banks can offer higher rates -- up to 400 basis points for 1-3 year deposits and 500 basis points for 3-5 year deposits -- until March 31, 2025. This move comes as the rupee faces volatility.The Reserve Bank of India on Friday announced a raise in the interest rate caps on the Indian diaspora's foreign cu ...Read More >
Bengaluru -- Gold prices rose for a second session on Tuesday as the dollar weakened, with markets evaluating the possible consequences of US President Donald Trump's policies in his second term after his inauguration. Spot gold gained 0.6% to $2,724.74/oz by 2.40am GMT. US gold futures was 0.2% lower at $2,742.50. The dollar was down about 1% after reports suggested any new taxes would be imposed in a "measured" way. A weaker dollar makes gold more attractive to foreign buyers. "There is a sense of relief in risk sentiment to know that tariffs have not been an immediate focus. The unwindin ...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 >
New Delhi, May 28 (SocialNews.XYZ) The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the continuation of the interest subvention component under the modified interest subvention scheme (MISS) for loans to farmers during the financial year 2025-26, and approved the required fund arrangements, according to an official statement issued after the meeting. MISS is a Central sector scheme aimed at ensuring the availability of short-term credit to farmers at an affordable interest rate through Kisan credit cards (KCC). Under the scheme, farmers receive short-term loa ...Read More >
MUMBAI: Adani Electricity announced today significant achievements in environmental conservation, specifically in reducing and eliminating Single-use plastics (SUP) across its operations. The organisation has successfully recycled over 3.8 metric tonnes of non-biodegradable plastic waste during the past three financial years."As the world observes World Environment Day - this year's theme of #BeatPlasticPollution, we at Adani Electricity reaffirm our unwavering dedication to environmental responsibility," said an Adani Electricity spokesperson. "Sustainability isn't just a buzzword; it's a cor ...Read More >
Jharkhand supplementary budget: The Jharkhand Assembly on Thursday (December 12) passed the second supplementary budget of Rs 11,697.45 crore for the 2024-25 fiscal year. Following the budget's passage, Speaker Rabindra Nath Mahato adjourned the four-day session of the assembly sine die. Finance Minister Radhakrishna Kishore tabled the second supplementary budget, with the largest allocation of Rs 6,390.55 crore directed to the Women, Child Development, and Social Security Department. This significant funding aims to enhance the government's flagship initiative, the Maiyan Samman Yojana. Und ...Read More >
New Delhi [India], May 19 (ANI): Union Agriculture Minister Shivraj Singh Chouhan on Monday said that his ministry's resolve is to increase the Kharif crop production while reducing the production cost. He added that the synergy between the agricultural research and the farmers will be increased. The Minister was speaking to reporters here after a meeting with the State agricultural ministers. "Today, I held a meeting with the Agriculture ministers of all the states...Agriculture is important for the country, whether it is a question of livelihood, employment, contribution to the economy or ...Read More >
Vijayawada (Andhra Pradesh) [India], May 22 (ANI): Former Andhra Pradesh Chief Minister and YSRCP president YS Jagan Mohan Reddy on Thursday launched a scathing attack on the current TDP-led government in the State, accusing Chief Minister Chandrababu Naidu of failing to deliver on pre-election promises and engaging in financial mismanagement. The former chief minister also took aim at what he called the "yellow media" for biased reporting in favour of the ruling party. "I am not only fighting against Chandrababu Naidu but also against the 'yellow media'," Reddy said in a press conference. ...Read More >
New Delhi [India], May 28 (ANI): The Union Cabinet on Wednesday approved the continuation of the interest subvention component under the Modified Interest Subvention Scheme (MISS) for farmers for the financial year 2025-26, and approved required fund arrangements. It is a Central Sector Scheme aimed at ensuring the availability of short-term credit to farmers at an affordable interest rate through Kisan Credit card (KCC). Also Read | Parcel Bomb Case: Odisha Court Convicts Accused Punjilal Meher, Sentences Him to Life Imprisonment. Under the Scheme: Farmers received short-term loans of up t ...Read More >
NEW DELHI, June 3 (Reuters) - Prime Minister Narendra Modi's high-profile attendance at a global airlines conference this week underscores how much India is banking on a boom in aviation to support wider development goals, but headwinds to its ambitions are gathering force. Undeterred by the uncertainty gripping the aviation sector globally due to trade tensions and shaky consumer confidence, India's biggest airlines are ploughing ahead with orders for new planes, following record deals two year ...Read More >
ess than 24 hours after he asserted in Nigeria's Abuja that stepping out of the comfort zone, innovating and creating new paths has now become the very essence of today's India, Prime Minister Narendra Modi on Monday told the gathering of world's most influential leaders converged in Rio de Janeiro for the G20 Summit that the main reason for India's success lies in his government's 'back to basics' and 'march to the future' approach. Addressing the G20 session on 'Social Inclusion and the Fight Against Hunger and Poverty' at the bayside museum of modern art during the two-day 19th G20 Summit, ...Read More >
JAKARTA (Reuters) - Indonesia and Canada on Monday signed a Comprehensive Economic Partnership Agreement (CEPA) that aims to strengthen economic ties between the two G20 members, three years after negotiations began. The agreement will take effect in 2026 and was signed in Jakarta by trade ministers of both countries. Indonesia's trade minister, Budi Santoso, said Indonesia appreciated Canada's support for its plan to prioritise its critical minerals sector, which was vital for its sustainable growth. "Together, we advance sustainable critical mineral management, supporting Indonesia's net ...Read More >
As per Moneycontrol's calculations, a 7 per cent growth in the remaining two quarters will put India's GDP at 6.5 per cent. The Indian economy would find it challenging to achieve over 7 per cent growth for the fourth consecutive year, economists said. They pointed out that the second-quarter (Q2) Gross Domestic Product (GDP) data, which was announced on November 29, has made the task even more daunting for the government. "A sharper than expected growth slowdown in Q2 has tilted risks to our outlook of 6.8 per cent for the current fiscal downwards," said DK Joshi, chief economist, Crisil. ...Read More >
New Delhi, Dec 3 (PTI) Finance Minister Nirmala Sitharaman will commence customary pre-Budget consultations with various stakeholders beginning Friday. As part of the process, she will meet eminent economists on December 6 to seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent recorded in the second quarter of the current financial year. It will be followed by a meeting with farmer associations and agriculture economists and stakeholders in MSME sector scheduled for December 7, sources said. Union Budget 2025-26 is likely to be tabled in Parliament o ...Read More >
New Delhi: Union Minister for Agriculture and Farmers Welfare Shivraj Singh Chouhan on Thursday met farmers in Punjab and reviewed crops and production. Addressing a gathering, Chouhan said, "Prime Minister Narendra Modi's vision is Viksit Bharat, and we are working tirelessly with that goal in mind. Our mission is to build a glorious, prosperous and powerful India. Agriculture is the backbone of the Indian economy. In the fourth quarter of last financial year, the country achieved a growth rate of 7.5 per cent, with agriculture contributing to 5.4 per cent of it. Agriculture still accounts f ...Read More >
Ranchi: On the occasion of World Environment Day on Thursday, chief minister Hemant Soren appealed to the people of Jharkhand to put a stop to plastic usage. He emphasised the urgent need for collective action from all quarters to promote a sustainable and environment-friendly approach.Addressing the public during environment day programme besides inaugurating the Siromtoli flyover, the CM said that rampant plastic usage was a pressing concern, and efforts were being made to put an end to it. He appealed for a shift towards alternative options to plastic."The time has come to change our habits ...Read More >
H.E. Josel Francisco Ignacio, current Ambassador of the Philippines to India shares his credentials with President Droupadi Murmu On 16 November 1949, the Philippines and India, the two independent democracies would forge diplomatic ties. The two republics were born just a few years apart, first set out on the road to their bilateral friendship and collaboration. This inaugurated a period of closer government interaction, commerce and investment, and other bilateral and multilateral cooperation. Building on much common ground in history, democratic ideals, socio-economic imperatives and aspi ...Read More >
Trump warns BRICS nations against replacing US dollar Dec 2 (Reuters) - A gauge of emerging market stocks rose on Monday, driven by positive manufacturing data from China and expectations of continued policy support from Beijing, while India's rupee hit a record low because of weaker-than-expected economic data. As of 0932 GMT, the MSCI's index for emerging market stocks had risen by 0.7%, on track for its biggest percentage gain in over three weeks. China's blue-chip CSI 300 climbed 0.8%, and the Shanghai Composite index jumped 1.1% after a private survey indicated that Chinese factory act ...Read More >
New Delhi, Dec 12 (PTI) Terming the 5.4 per cent GDP growth in the second quarter as a "temporary phenomena", FICCI President Harsha Vardhan Agarwal on Thursday said the industry body expects India to achieve 6.5-7 per cent economic growth in the current financial year, while projecting a pick up in private investment. In an interview to PTI, Agarwal, who is also the Vice Chairman & Managing Director of Emami Ltd, said the RBI needs to manoeuvre a "tight-rope balancing act" between inflation and economic growth, as he opined that the central bank has been doing a prudent job. Notably, the FI ...Read More >
New Delhi, Jan 2 (PTI) Stakeholders from the electric vehicle (EV) sector will hold a meeting with Commerce and Industry Minister Piyush Goyal here on January 3 on issues, including infrastructure related to charging and battery swapping, sources said. They said that officials from the Department of Heavy Industries are expected to attend the meeting. Also Read | SOF NSO Results 2024-25 Out at sofworld.org: National Science Olympiad Exam Result Released, Get Direct Link and Know Steps To Download. Representatives from Tata, Mahindra, Mercedes-Benz India, Hero MotoCorp, and other companies h ...Read More >
New Delhi, May 27 (PTI) The country's overall goods and services exports are expected to reach USD 1 trillion during 2025-26, according to apex exporters' body FIEO. In 2024-25, the exports were aggregated at USD 825 billion. Federation of Indian Export Organisations (FIEO) President S C Ralhan said merchandise exports will increase from USD 437 billion to USD 525-535 billion in 2025-26. He said that services exports may rise from USD 387 billion to USD 465-475 billion this fiscal. The main sectors which can help push the exports include electrical and electronics (USD 60 billion), machine ...Read More >
New Delhi, Jun 2 (PTI) Global automobile makers including Mercedes Benz, Skoda-Volkswagen, Hyundai and Kia have shown interest in manufacturing electric cars in India, Union Heavy Industries Minister H D Kumaraswamy said on Monday. The said companies have expressed interest during the stakeholder discussions between the government and the industry regarding the 'Scheme to Promote Manufacturing of Electric Passenger Cars in India', the detailed guidelines for which were unveiled by the minister. While the scheme was notified on March 15 last year, its guidelines were issued on Monday. Offici ...Read More >
The U.S. dollar continued its strong run on Monday, bolstered by soaring Treasury yields and expectations of limited Federal Reserve rate cuts. Meanwhile, the yen steadied ahead of a key speech by Bank of Japan Governor Kazuo Ueda, where he may hint at a possible rate hike in December, with markets pricing a 55% chance of such a move. Japanese Finance Minister Katsunobu Kato's warning on yen intervention caused a temporary pullback, while the dollar index touched a one-year high of 107.07. Analysts forecast further dollar gains as U.S. economic policies and performance outshine global peers. K ...Read More >
Since our last publication, the higher risk-sensitive EUR/CHF cross pair has wobbled as it grappled with the Eurozone's economic weakness and a looming unfavorable external trade environment due to further global supply chain disruptions due to incoming US President-elect Trump's 10% to 20% tariffs threat on other countries' exports to the US, inclusive of the Eurozone. The EUR/CHF inched lower in the week of 18 November (ex-post US Presidential election outcome on 6 November) and retested a key intermediate support of 0.9255, a key swing low made almost a year ago on 29 December 2023. Fig 1 ...Read More >
New Delhi, Feb 4 (PTI) Finance Secretary Tuhin Kanta Pandey on Tuesday said the government has taken measures to lower fiscal deficit and delivered a non-inflationary Budget, and hoped that the RBI's monetary policy will work in tandem with fiscal policy to support growth. He also said that although rupee depreciation increases inflation on imported inputs, it also adds to export competitiveness. Pandey said that the government has bettered its fiscal deficit projections for the current fiscal as well as the next. The fiscal deficit for FY'25 has been pegged lower at 4.8 per cent of GDP, low ...Read More >
New Delhi, May 26 (PTI) Alcoholic beverage maker's body CIABC has urged the government to adopt a phased reduction in import duties on liquor products under the proposed India-EU free trade agreement (FTA), while calling for strong safeguards to prevent misuse of trade concessions under the pact. In a submission to the commerce ministry, Confederation of Indian Alcoholic Beverage Companies (CIABC) has proposed slashing the effective customs (or import) duty on bottled products like wines and spirits from the current 150 per cent to 100 per cent immediately and then down to a resting customs d ...Read More >
New Delhi [India], May 29 (ANI): After a federal court of the United States struck down a reciprocal tariff announced by US President Donald Trump, the Global Trade Research Initiative (GTRI) said that India should proceed cautiously in its ongoing Free Trade Agreement (FTA) negotiations with the US. A Manhattan-based federal court on May 28 struck down Trump's move to impose reciprocal tariffs on the trading partners of the US and ruled that he can't use emergency power to impose tariffs on foreign countries; it has to come from Congress. The order of the court determined that the tariffs, ...Read More >
Trump's pressure on countries to remain tied to a US-dollar-based financial system could backfire, with potential increased motivation for BRICS to create alternatives. While the dollar's dominance persists due to existing economic strengths, recent global currency agreements indicate a cautious shift away from reliance on the greenback.Donald Trump's pressure on countries around the world to stay anchored to a US-dollar-based financial system is a tactic that risks backfiring, market watchers say. Dollar dominance looks set to continue for the foreseeable future and emerging nations' idea of ...Read More >
Asian and European stocks surged thanks to tech companies driving Wall Street to record highs. Japan's Nikkei and several European indices rose, while the US dollar stabilized after a previous surge. Political tensions in France and tariff threats from the US also affected market movements and currency valuations. Stock markets across Asia and Europe experienced a resurgence on Tuesday, driven in part by a strong performance in tech stocks in the US. Japan's Nikkei index surged by 1.91%, and the MSCI Asia index saw a 1.16% rise, bolstered by Wall Street's record highs overnight. European ind ...Read More >