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.
In April, India reached 224 gigawatts (GW) of renewable energy capacity, with 108GW representing solar exclusively. Of this solar capacity, 105GW was added in the last decade. It accounts for a third of total additions in the Global South. This rise can be attributed to the fact that India, under Prime Minister Narendra Modi, has a clear policy and regulatory framework for private sector-led investments in solar energy. India's efforts to make solar energy accessible and desirable have been decisive. The Solar Energy Corporation of India instilled confidence in the private sector by ensuring transparent solar bidding and timely disbursement of subsidies. Also Read: Trump's solar panel tariffs deal climate action a severe blow Due to growing demand, technological advancement and the implementation of auction as well as reverse auction mechanisms, solar energy tariffs have fallen 69% between 2014 and 2024, with the lowest bid price reaching ₹2.00 per kilowatt hour. While solar installations have grown, local manufacturing has also been promoted. India's module-making capacity has reached 80GW and cell manufacturing capacity 25GW. With rapid growth in renewables, India has an opportunity to steer a solar energy revolution in the Global South and lead by example. In 2024, India hosted the Voice of Global South Summit in which 123 countries participated. These countries are at various stages of market maturity and stand to benefit by embracing India's experience. India has always spoken for developing nations, like in the G20, where India ensured the membership of the African Union. This proactive stance on the global stage is guided by the virtues of collaboration and cooperation enshrined in the 'Vasudhaiva Kutumbakam' (One World, One Earth, One Family) motto that we follow. The International Solar Alliance (ISA) launched by India under Prime Minister Modi and France at CoP-21 in Paris has consistently advocated solar-led energy transitions. It is the first multilateral and inter-governmental organization headquartered in India, with 124 countries as members currently. Recognized as an observer to the United Nations Framework Convention on Climate Change (UNFCCC), the ISA champions the role of solar energy in delivering equitable, sustainable and scalable climate solutions for the world, particularly for countries of the Global South. Also Read: Rely on modern geothermal energy to power our AI ambitions CoP-30 will mark 10 years since the formation of the ISA was announced. As part of its evolving strategic vision, the Alliance has structured its future direction around four foundational pillars that strive to move from 'Ambition to Action.' The first pillar, Catalytic finance hub, addresses one of the most pressing barriers to solar adoption in the Global South -- limited access to private capital due to real and perceived investment risks. The ISA is operationalizing a catalytic finance mechanism: the Global Solar Facility, beginning with the Africa Solar Facility, a $200 million fund that is expected to leverage more than 20 times that financing through a mix of risk mitigation and blended finance instruments. The aim is to create a platform through a leading Africa-based fund manager selected competitively to offer de-risking instruments. For instance, in Nigeria, the ISA's proposed support of junior equity will assist the Nigeria Sovereign Investment Authority and Africa 50 in providing funds to electrify more than 10 million Nigerian homes. The second pillar focuses on capacity building through the Solar Technology Application Resource-Centre (STAR-C), the ISA's network of national centres of excellence operational in 10 countries and expanding to 16 by the end of 2025. With support from partners such as France, Denmark and the EU, this initiative is expanding to a Global Capability Centre, which will integrate India's digital expertise to help partner countries leapfrog ahead in digital technology. The SolarX Startup Challenge, already supporting 50 early-stage companies across Africa, India and the Asia-Pacific, is hosting its third edition in the Latin America and Caribbean region. The ISA is also working on a digital platform to democratize technical solar knowledge across the globe. The third pillar strengthens regional and country-level engagement through tailored interventions in various countries. The ISA is anchoring its work in large-scale regional platforms such as the proposed Small Island Developing States Platform, which will aggregate demand data to enable solar deployment. One Sun One World One Grid, another key platform, prioritizes regional integration across continents to optimize the need for energy storage in countries. At the country level, the ISA will work with governments to implement comprehensive solar strategies and support key projects. This approach is backed by the newly- established Multi-Donor Trust Fund. The fourth pillar focuses on technology policy and roadmaps, helping countries adopt emerging solar technologies best suited to their energy transition needs, with guidance offered on technology prioritization, national implementation plans and policy frameworks. The Alliance is also deepening its work on supply-chain assessments, new technologies like green hydrogen, circularity and environmental sustainability by developing roadmaps for solar photovoltaics and battery waste management. Also Read: Sumant Sinha: Nuclear energy is a crucial piece in the puzzle of climate action These pillars reflect a focused, integrated and future-facing ISA, while aligning more closely with the evolving needs of its member countries. India's solar revolution provides a model for nations across the Global South, demonstrating that a clean energy future is achievable with political will, aspiration, legislation and collaboration. However, cooperation -- particularly between developed and developing countries -- will be essential for progress. The ISA is uniquely positioned to speed up this change because of the trust placed in it by its members and signatories, upon whom it looks as equal partners -- and as co-architects of a just and sustainable clean- energy world order. The author is president of the ISA Assembly and the Union minister of new and renewable energy.
New Delhi [India], December 2: The IVCA GreenReturns Summit 2024 commenced today in New Delhi, convening over 400 visionaries, investors, policymakers, and entrepreneurs to chart a transformative path for India's green economy. The Summit is dedicated to aligning India's climate goals with its trillion-dollar economic aspirations for a 'Viksit Bharat,' spotlighting high-impact investment opportunities, addressing funding gaps, and driving actionable solutions for net-zero and climate adaptation. Also Read | Mamata Banerjee Says West Bengal Yet To Get INR 14,000 Crore From Centre for Supply of ...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 >
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 >
Filmmaker Jayan K Cherian; stills from his latest film 'Rhythm of Dammam', on the Siddi Community of Yellapur in Uttara Kannada (north Karnataka). The stunningly shot and evocative Rhythm of Dammam, in Siddi Bhasha, is the first fictional feature ever to be made on the Indian Siddi community that traces its ancestry to Africa. In the film, the pre-teen Jayaram, who lives in Karnataka's Yellapura, is afflicted by his dead grandfather's visions, as his impoverished family fights over supposed buried treasure. But Jayaram is a chosen one, the visitations will lead him to discover his community's ...Read More >
Lucknow, December 3: Chief Minister Yogi Adityanath, on Tuesday, emphasized that Prime Minister Narendra Modi's emphasis on using the term "Divyang" and respecting their sentiments has inspired persons with disabilities to advance in life and various fields with dignity. He highlighted that whenever Divyangjans have been given opportunities, they have consistently demonstrated their exceptional talents and abilities. Speaking at a state-level award ceremony at Lok Bhavan on International Day of Persons with Disabilities, the Chief Minister celebrated the achievements of Divyangjans and reaffi ...Read More >
India's Ministry of Corporate Affairs (MCA) has announced an ongoing investigation into three electric vehicle (EV) manufacturers for allegedly availing government subsidies fraudulently. The total sum in question amounts to approximately Rs2.97bn (about $35m). The firms under scrutiny, Hero Electric Vehicles, Benling India Energy and Technology, and Okinawa Autotech; they are accused of violating guidelines tied to FAME II. FAME II was launched in 2019 by India's Ministry of Heavy Industries (MHI), that aimed to promote local EV manufacturing and drive electrification in India. It is mainl ...Read More >
Bhubaneswar: Opposition BJD and Congress MLAs Tuesday staged a walkout from the Odisha assembly, accusing the ruling BJP of failing to control prices of essential commodities and resolve the potato crisis in the state. The issues were debated in the House over the admissibility of an adjournment motion moved by the Opposition on price rise of vegetables, pulses, edible oil and fuel. The opposition members took exception to comments made by Food Supplies and Consumer Welfare Minister K C Patra that adverse climate conditions, rates in international and domestic markets, and less production by ...Read More >
India's growth in gross domestic product (GDP) of 5.4% in the three months ended 30 September, or the second quarter of 2024-25, was a shocker. It undershot even the most pessimistic forecasts. It's the lowest level seen since the third quarter of 2022-23 and a sharp drop from 8.1% growth in the same period last year and also from 6.7% in the first quarter of 2024-25. The consensus expectation stood at about 6.5% and the Reserve Bank of India (RBI) was expecting around 7% growth till its October policy, only to pare it to 6.8%. Growth in gross value added (GVA), which is the preferred measure ...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 >
Mumbai, November 26: The final allotment for the NTPC Green Energy IPO has been confirmed, and investors can now check their status through bank debit messages or online platforms such as the BSE, NSE, and Kfin Technologies. The shares of NTPC Green Energy, which opened for subscription on November 19 and closed on November 22, are set to be listed on the stock exchanges on Wednesday, November 27, 2024. The public offering received strong investor interest, with the issue oversubscribed by 2.42 times, according to the National Stock Exchange (NSE). Analysts maintain a positive long-term outlo ...Read More >
Mumbai: A resident of Amboli, Andheri, was duped of Rs 1.59 crore on the pretext of "lapsing HDFC policy" by a person posing as an official of the finance department (Integrated Grievance Management System). About The Case The complainant, Sudip Kumar Ghosh, 57, received a message on WhatsApp from someone named Rajiv Sharma, the purported finance department official, who said that the former's policy was lapsing soon. Sharma claimed that if the premium and penalty were not paid, Ghosh would lose Rs 3 crore in policy benefits. Acting on his instructions, Ghosh transferred Rs 1.59 crore under ...Read More >
NEW DELHI: Lieutenant governor VK Saxena has given his approval to the reconstitution of Delhi Building and Other Construction Workers Welfare Board, paving the way for govt to prepare a scheme to provide compensation to the construction workers who lost work due to the implementation of GRAP IV provisions. The board was not in place for the last couple of years. While giving his nod to its reconstitution, LG directed that immediate steps should be taken to implement Supreme Court directions to provide subsistence allowance to workers affected due to restrictions on construction activities be ...Read More >
Bitcoin World - Let me start by saying that I made over $30,000 in passive income last month. I know, that sounds crazy, right? But I promise you it is 100% real. I used to think that making money while you sleep was something only the super wealthy or tech savvy could do. But it turns out it is totally possible, and I'm here to tell you how I did it," said Dennis. Dennis has been installing photovoltaic panels for three years, and five years ago he asked his wife a question: "Do we really have to work ourselves to death?" She simply responded: "That's life." "To be honest, it was frustratin ...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 >
The escalating conflict could upset a hard-fought consensus that G20 negotiators reached around 5 a.m. on Sunday, after an overnight push to ready the joint statement for final review by leaders arriving in Rio. That preliminary consensus after six days of negotiations included streamlined language about global conflicts including the war in Ukraine, focusing on the need to negotiate peace rather than criticism of any participants. However, sources said even that "simpler" consensus may now be up for reconsideration following the Russian air strike and the prospect of further escalation. Un ...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 >
The global smoke grenade market is expected to grow from $297.24 million in 2023 to $456.46 million by 2031, driven by a 5.5% CAGR. Military, law enforcement, and emergency services are the primary sectors fueling demand, especially for tactical operations, training, and crowd control. Advances in technology have led to safer, more effective smoke grenades, while commercial uses in activities like paintball and film production are rising. Environmental concerns are promoting the development of eco-friendly products. North America leads the market, with rising military expenditures further boos ...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: Prime Minister Narendra Modi's home state, Gujarat, has achieved remarkable success in implementing the PM Surya Ghar Muft Bijli Yojana, a flagship initiative aimed at promoting rooftop solar installations for residential users. Informing the Rajya Sabha on Tuesday, Union Minister for New and Renewable Energy and Power, Shripad Naik, stated that Gujarat has recorded the highest number of solar rooftop installations, followed by Maharashtra and Uttar Pradesh. The minister further revealed that a total of 1.45 crore registrations have been recorded across the country under the PM Su ...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 >
Chief Minister Mohan Yadav has expressed his gratitude to Prime Minister Modi and the Union Cabinet for approving 3 multitracking projects of the Railway Ministry worth Rs 7 thousand 927 crore. Chief Minister Yadav said that the state is making rapid progress under the able leadership of Prime Minister Modi, due to the increasing network of railways in the state, and transportation for the people of the state has also become fast and easier. The people of the state are grateful to Prime Minister Narendra Modi and Railway Minister Ashwini Vaishnaw for the continuous new developments and contri ...Read More >
The Chinese yuan was also facing its own challenges from the growing threat of more U.S. tariffs on China, pushing it down to a 13-month trough. Japan's tech-heavy Nikkei jumped 1.6% as of 0200 GMT, and South Korea's KOSPI advanced 1.7%. Taiwanese shares gained 1.1%. Australia's stocks benchmark rose 0.7% and reached a fresh all-time high. However, Chinese stocks were under pressure, with Hong Kong's Hang Seng edging slightly lower and mainland blue chips falling 0.3%. MSCI's broadest index of Asia-Pacific shares added 0.7%. Both S&P 500 and Nasdaq futures were flat after the cash indexes ...Read More >
Still, the ongoing U.N. climate talks have thrown a spotlight on their efforts to tackle global warming. While the COP29 summit in Baku, Azerbaijan, is tasked with agreeing a goal to mobilize hundreds of billions of dollars for climate, leaders of the Group of 20 major economies half a world away in Rio are holding the purse strings. G20 countries account for 85% of the world's economy and are the largest contributors to multilateral development banks helping to steer climate finance. "The spotlight is naturally on the G20. They account for 80 percent of global emissions," U.N. Secretary Ge ...Read More >
PM Modi holds bilateral meetings with Indonesia and Portugal President Prabowo Subianto of Indonesia and Prime Minister Narendra Modi engaged in bilateral discussions during the G20 Leaders' Summit in Brazil. The Indian delegation, which included External Affairs Minister S Jaishankar, participated in discussions with their Indonesian counterparts. During their interaction, PM Modi emphasised the discussions centred on strengthening bilateral relations across various sectors, including trade, defence cooperation and additional areas of mutual interest. ...Read More >
New Delhi, November 26: Prime Minister Narendra Modi on Tuesday said that the government at the Centre has strengthened the spirit of the Constitution over the last 10 years. Addressing the Constitution Day celebrations at the Supreme Court, PM Modi highlighted that in the last 10 years, more than 53 crore bank accounts were opened, more than 4 crore pukka houses were given and more than 10 crore free gas connections were given. "In the last 5-6 years, by providing tap water facilities in more than 12 crore houses, the government made the lives of citizens easy, particularly of women," he sai ...Read More >
Biocon Biologics, in collaboration with Diabetes Africa and St Paul’s Hospital in Ethiopia, has launched the Embedding Specialist Nurses in Diabetes Care project. The initiative focuses on training nurses to become diabetes specialists to address the country’s growing diabetes crisis. With Ethiopia ranking among the top countries in sub-Saharan Africa for diabetes prevalence, this project aims to integrate diabetes care into primary healthcare, enhancing accessibility and care quality. By upskilling nurses and establishing a structured pathway for them, the program seeks to improve diabetes ma ...Read More >
The XEV 9e is fast and even in the lower range mode feels smooth along with lots of performance.Source : Somnath Chatterjee Electric cars are different and Mahindra has thrown everything at their new range of EVs in terms of a new electric architecture along with specifications normally seen on luxury cars. The XEV 9e based on the Inglo platform is the bigger and more premium EV which starts at Rs 21.9 lakh while coming with two battery pack options- 59 and 79kwh. The 79 kwh battery pack means 656 km range and 284 bhp which means 0-100 km/h is just 6.8 seconds. The big XEV has lots of road p ...Read More >
Cybercrime is quickly increasing in India, with reports surfacing daily about victims losing large sums of money to scammers. These scammers often use tactics like threatening a "digital arrest" to instill fear and pressure individuals into transferring money. They typically operate from foreign countries to evade capture by law enforcement. The Indian government, including Prime Minister Modi, is actively raising awareness about these scams. Recently, the Department of Telecommunications (DoT) issued a warning to the public regarding international fraud calls. They advised people to be caut ...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 >