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], July 3 (ANI): NITI Aayog on Thursday released its report "Chemical Industry: Powering India's Participation in Global Value Chains". The report offers an extensive analysis of India's chemical sector, highlighting both opportunities and challenges, and outlining a pathway for positioning India as a key player in global chemical markets. The global chemical industry is undergoing a major transformation, driven by shifting supply chains, demand for specialty and green chemicals, and heightened focus on innovation and sustainability. Also Read | Apple iPhone 17 Series Launch Expected in September 2025: Check Rumoured Details of iPhone 17, iPhone 17 Air, iPhone 17 Pro and iPhone 17 Pro Max Price, Specifications and Features. India's chemical sector, while significant in size and GDP contribution, remains fragmented and constrained by infrastructure gaps, regulatory inefficiencies, and low R&D intensity. India's 3.5 per cent share in global chemical value chains and its chemical trade deficit at USD 31 billion in 2023 underscore its high dependence on imported feedstock and specialty chemicals. Also Read | Who Is Soham Parekh, Indian Techie Accused of Duping Multiple Companies? What's His Reaction to Allegations of Moonlighting?. However, with targeted reforms encompassing a comprehensive range of fiscal and non-fiscal interventions will enable India to have a USD 1 trillion chemical sector and achieve 12 per cent GVC share by 2040, thus becoming a global chemical powerhouse. India's chemical sector faces several structural challenges that constrain its global competitiveness. A key issue is the country's heavy reliance on imported feedstock, which contributed to a USD 31 billion trade deficit in 2023, stemming from limited domestic backward integration. Infrastructure gaps, outdated industrial clusters, and high logistics costs have created a cost disadvantage compared to global peers. Compounding this, India's low investment in R&D, with only 0.7 per cent of investment against the global average of 2.3 per cent, hampers indigenous innovation in high-value chemicals. Regulatory delays, especially in environmental clearances, further stifle industrial agility. Additionally, the sector is hampered by a 30 per cent shortfall in skilled professionals, particularly in emerging areas such as green chemistry, nanotechnology, and process safety. NITI Aayog's report outlines several strategic fiscal and non-fiscal interventions aimed at enhancing India's global competitiveness in the chemical sector. (ANI) (This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)
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 >
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 >
Bengaluru, 4th December 2024- PURE EV, one of India's leading electric two-wheeler manufacturers, has unveiled an ambitious roadmap to strengthen its presence nationwide and expand globally while introducing innovative solutions for sustainable mobility. Over the next 30 months, the company aims to add 250 new dealerships, taking its total network to over 320 across India. The expansion will be driven by the growing demand for long-range scooters, electric motorcycles, large B2B contracts, and the company's entry into the house-hold brand space. Dr. Nishanth Dongari, Founder & MD of PURE EV, ...Read More >
Gurugram, 11 December 2024: Around USD 40 billion of investments are envisaged over the next 5-6 years for the development of Electric Vehicles (EV) & ancillary industries in India. However, the deployment of these funds will rely upon successful implementation of government policies, charging infrastructure ramp-up and domestic manufacturing capacity scale-up. As per Colliers' latest report "EVs in India: Renewed Vigour in Electric Mobility", about two-thirds of the planned investments, can potentially materialize in the lithium-ion battery segment alone. Interestingly, despite slower than an ...Read More >
Bengaluru (Karnataka) [India], December 13: IIFL Capital Services Limited (formerly IIFL Securities Limited) today announced the unveiling of its state-of-the-art office in Bengaluru, dedicated to wealth management services for High Networth Individuals (HNIs) and Ultra High Networth Individuals (UHNIs). IIFL Capital Services is one of the largest wealth managers in India, with about $30 billion (Rs 2.5 lac crore) worth of assets under management, advice and custody. Also Read | Big score is just around the corner for Steve Smith, Skipper Pat Cummins Backs Star Batter Ahead of IND vs AUS 3rd ...Read More >
WarmUp Ventures Founders L to R - Rajendra Lora ,Yogesh Chaudhary , Sharad Bansal Athera Venture Partners has roped in HDFC AMC's fund of funds as an LP for its Fund IV, while Warmup Ventures is launching its second fund. HDFC AMC invests in Athera's Fund IV Tech-focused venture capital fund Athera Venture Partners, formerly known as Inventus India, on Wednesday said that HDFC's fund of funds has invested in its Fund IV, which is scheduled to close in 2025. HDFC AMC's Select AIF FoF I Scheme will be a dominant LP in Athera's Rs 900-crore fund to be invested into fast-growing tech startups ...Read More >
Mumbai, Jun 5 (PTI) The rupee snapped its two-day losing streak and closed 8 paise higher at 85.79 against the US dollar on Thursday, supported by positive domestic equities and a rise in Asian currencies. Forex traders said overnight softening of crude oil prices favoured the rupee. However, a strong US dollar index capped sharp gains. Besides, market participants are now keenly awaiting the outcome of the Reserve Bank of India's (RBI's) monetary policy meeting for further cues, they said. At the interbank foreign exchange, the domestic unit witnessed a volatile trading session -- it opene ...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 >
Hong Kong, December 3, (ANI): Mainland Chinese shoppers are once again flocking to stores in Hong Kong, but this time, their focus is on purchasing sanitary towels and other feminine care products, rather than infant formula, cooking oil, or Yakult drinks. This shift in shopping habits is driven by concerns over reports of contaminated and discoloured cotton fillings in similar products sold in mainland China. These safety issues have led many consumers to seek alternatives in Hong Kong, where the quality is perceived to be more reliable, Radio Free Asia reported. A shopper from Guangzhou, i ...Read More >
Hong Kong: Mainland Chinese shoppers are once again flocking to stores in Hong Kong, but this time, their focus is on purchasing sanitary towels and other feminine care products, rather than infant formula, cooking oil, or Yakult drinks. This shift in shopping habits is driven by concerns over reports of contaminated and discoloured cotton fillings in similar products sold in mainland China. These safety issues have led many consumers to seek alternatives in Hong Kong, where the quality is perceived to be more reliable, Radio Free Asia reported. A shopper from Guangzhou, interviewed by Radio ...Read More >
NEW DELHI: India has seen limited success so far in capturing the 'China Plus One strategy', while Vietnam, Thailand, Cambodia, and Malaysia have become bigger beneficiaries, according to a report of government think tank Niti Aayog. It said that factors such as cheaper labour, simplified tax laws, lower tariffs and pro-activeness in signing Free Trade Agreements (FTAs) have played a critical role in helping these countries expand their export shares. The US has implemented stricter export controls and higher tariffs on Chinese goods to limit China's growth and expenditure towards technologi ...Read More >
PRNewswire New Delhi [India], January 21: SWITCH Mobility Ltd, a part of the Hinduja Group, has unveiled the SWITCH IeV8, a revolutionary electric light commercial vehicle (eLCV) in the 7.2T category catering to mid-mile logistics. Designed with sustainability and operational efficiency at its core, the SWITCH IeV8 is set to transform the logistics sector in India. * H. D. Kumaraswamy, Minister of Heavy Industries and Steel, unveils the SWITCH IeV8, an electric light commercial vehicle (eLCV) designed for mid-mile logistics, at the Bharat Mobility Expo 2025 The SWITCH IeV8, a robust additio ...Read More >
New Delhi, May 26 (PTI) Niti Aayog on Monday pitched for tailored financial tools, technology integration and a centralised digital portal to transform medium enterprises into future growth engines of India's economy. In a report titled 'Designing a Policy for Medium Enterprises', the Aayog highlighted the critical yet under-leveraged role played by medium enterprises and outlined targeted interventions to unlock their full potential. To address challenges faced by medium enterprises, it recommended the introduction of a working capital financing scheme linked to enterprise turnover, a Rs 5 ...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 >
New Delhi, May 19 (PTI) After a tepid start to 2025, the IPO market is getting back on track with six main-board companies, including Schloss Bangalore -- owner of luxury hotel chain The Leela, are set to float their initial share-sales this month to collectively mobilise over Rs 11,000 crore, investment banking sources said on Monday. Of the six firms, Borana Weaves and Belrise Industries will launch their IPOs this week. Borana Weaves will float its Rs 144-crore IPO on May 20, while Pune-based Belrise Industries' Rs 2,150-crore IPO will open on May 21. The remaining four companies -- Schl ...Read More >
Kolkata: Avenging the Pahalgam terror attack, 'Operation Sindoor' was launched and although aerial action was ceased, Indian armed forces are continuing their activities to increase their military strength. Amid this, glass with higher resistance and strength but less weight is being created for bulletproof vehicles, helicopters, ships and several other weapons. A major role in this endeavour is being played by Central Glass and Ceramic Research Institute (CGCRI) in West Bengal's Jadavpur area. According to sources, "Research is underway to decrease weight and increase the strength of the gl ...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) 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 >
New Delhi, Dec 18 (PTI) Gold prices fell Rs 200 to Rs 79,100 per 10 grams in the national capital on Wednesday amid a firm trend in international markets, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity settled at Rs 79,300 per 10 grams in the previous session. Snapping a three-day losing run, silver climbed Rs 500 to Rs 92,000 per kg on Wednesday. It closed at Rs 91,500 per kg on Tuesday. In the last three sessions, the white metal plunged Rs 5,500 per kg. The price of gold of 99.5 per cent purity slipped Rs 200 to Rs 78,700 per 10 grams from the ...Read More >
New Delhi, Dec 26 (VOICE) India in 2024 saw a boom in employment rates, with women and youth leading the charge in workforce participation, according to a report.The report by Apna.co, a job and professional networking platform, showed women contributed an impressive 2.8 crore job applications -- 20 per cent higher than in 2023. Similarly, the youth posted a 27 per cent year-on-year increase in job applications. Women contributed an impressive 2.8 crore job applications out of a total of 7 crore, a 25 per cent year-on-year surge, in 2024. Flexible work opportunities, gender-focused initiativ ...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 >
VMPL New Delhi [India], December 18: Five months after the launch of the "Go Green with Taiwan" project by Taiwan International Trade Administration (TITA) and Taiwan External Trade Development Council (TAITRA), and after receiving a total of 396 proposals from 45 countries around the world, the most exciting part is finally here. On December 9, 2024, the Top 5 finalists went on an all-expense paid trip to Taiwan where they presented their entries and convinced a distinguished panel of experts and judges from Taiwan that their entries can and will help change the way we live and establish a ...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 [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 >
New Delhi: Rare earth magnets, essential for EV motors, have become the latest flashpoint in India's growing electric mobility ambitions. These magnets power the core of Brushless DC (BLDC) and Permanent Magnet Synchronous Motors (PMSM), which drive most electric vehicles today, particularly two-wheelers. With China tightening export controls, Indian automakers now face serious supply-side disruptions. If the situation continues, industry experts warn that EV prices could rise, production could slow and expansion plans may take a hit. In April this year, China imposed an export curb on rare- ...Read More >
New Delhi, Jun 5 (PTI) National Green Tribunal Chairperson Justice Prakash Shrivastava on Thursday outlined an urgent need to curb plastic pollution as it negatively impacted marine life, suffocated terrestrial ecosystems, leached harmful chemicals into soil and water. In addition, it contributed significantly to air pollution when burnt, he said. The statement came on the occasion of World Environment Day and was uploaded on the NGTs website. Shrivastava said that plastic had become an indispensable part of our lives, yet its convenience masked a devastating reality. "This nonbiodegradabl ...Read More >
Mumbai, Dec 17 (PTI) The rupee consolidated in a narrow range and settled for the day higher by 1 paisa at 84.90 (provisional) against the US dollar on Tuesday, weighed down by disappointing trade balance data and weak domestic markets. Forex traders said the rupee is likely to remain under pressure due to concerns over slowdown in the economy and dollar demand from importers and foreign banks. At the interbank foreign exchange, the rupee opened at 84.89 and touched an all-time low of 84.93 against the greenback during intra-day trade. The unit finally ended the session marginally higher by ...Read More >
Mumbai, Dec 18 (PTI) Equity benchmark indices Sensex and Nifty stayed on the back foot for the third straight session on Wednesday as investors offloaded utility, capital goods and metal stocks amid foreign fund outflows. Besides, investor sentiment remained subdued ahead of the outcome of the US Federal Reserve's policy meeting, scheduled for Wednesday, traders said. The 30-share BSE benchmark tumbled 502.25 points or 0.62 per cent to settle at 80,182.20, taking its downtrend to the third day. During the day, it tanked 634.38 points or 0.78 per cent to 80,050.07. As many as 2,563 stocks de ...Read More >
New Delhi, Jun 5 (PTI) Business conglomerate Aditya Birla Group has acquired Cargill's speciality chemical manufacturing facility in Dalton, Georgia. In a statement on Thursday, the group announced the expansion of its US Advanced Materials business with the acquisition of Cargill Incorporated's 17-acre speciality chemical manufacturing facility in Dalton, Georgia. The acquisition continues Aditya Birla's expansion in the US' manufacturing sector, a key aspect of Aditya Birla's growth strategy, which now totals over USD 15 billion in investment. The acquisition was executed through Aditya B ...Read More >
New Delhi [India], June 4 (ANI): To meet the country's ambitious 500 GW target, India's renewable sector will need to double its annual capacity addition to 50 gigawatts (GW) over 2025-2030, S&P Global Ratings said in a report. This will mean almost doubling last year's capacity addition of 29GW. The global rating agency said capacity addition will require USD 175 billion and up to USD 150 billion for the expansion and strengthening of the transmission and distribution network. The next five years will be crucial as the country strives to meet its target of 500GW renewable capacity by 2030. ...Read More >