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, July 6 -- Indian court-appointed legal representatives inspected small-scale factories in recent weeks to seize suspected counterfeit Birkenstock footwear, after the German brand launched an infringement lawsuit, people familiar with the matter said. Birkenstock's case is occurring around the same time other shoemakers are in the news in India. Crocs this month secured a court nod to pursue a nine-year-old infringement case, while Prada is facing heat over showcasing sandals similar to ethnic Indian footwear without initially giving credit to India. Reuters is first to report the Indian case details related to Birkenstock sandals, which have evolved from a counterculture symbol to a trendy fashion item, and are also popular in India. In May, Birkenstock filed an infringement lawsuit in the Delhi High Court against four footwear traders, four factories and two unnamed individuals. Its complaint stated an internal investigation found counterfeits were being made in rural areas in and around the tourist hub of Agra, and sold locally and exported to other countries. On May 26, Delhi judge Saurabh Banerjee issued a confidential order that was only made public on the court's website last week. It said 10 local lawyers were appointed as commissioners to visit the suspected factories. The judge said commissioners can "seize, pack and seal the infringing products", and his order included photographs that Birkenstock submitted showing the alleged counterfeit footwear and shoe boxes with the company's branding. The visits have been completed and reports were submitted confidentially to the judge, the three people familiar with the matter said yesterday, asking to remain unidentified. The next hearing in the case is set for October 6. The visits were conducted in Agra, home to the Taj Mahal, and in India's capital New Delhi, the people said, declining to give further details from their inspection. Birkenstock did not respond to queries from Reuters and its lawyers from Delhi-based law firm Lall and Sethi declined to comment, citing the pending legal case. In his May order, Banerjee said he reviewed photographs and samples of the alleged counterfeit products in court, and they "seem like a cheap knock off" of Birkenstock products. "There is all likelihood of the public getting deceived ... The differences, hardly if any, are not something which can be discernible to the naked eyes," he wrote. Once popular with hippies, tech enthusiasts and medical professionals, Birkenstock gained widespread attention after Australian actress Margot Robbie wore a pair of pink Birkenstocks in the final scene of the 2023 hit movie Barbie. In February, a German court said Birkenstock sandals do not qualify as art and are therefore not protected by copyright, dismissing a lawsuit brought by the German company. In India, Birkenstock footwear for women is priced between US$46 (RM195) and US$233. -- Reuters
NEW DELHI: Axiom-4 crew members, including Shubhanshu Shukla, were welcomed with hugs and drinks as they stepped into the International Space Station on Thursday. The newly launched spacecraft -- the fifth in the Dragon series and named Grace -- successfully completed a soft docking with the International Space Station at 4.01pm while orbiting above the North Atlantic Ocean."At 6:31 am EDT (4:01 IST) on Thursday, the SpaceX Dragon spacecraft docked to the International Space Station for the fourth private astronaut mission to the orbiting laboratory, Axiom Mission 4," the National Aeronautics ...Read More >
New Delhi: The Italian luxury couture label shocked the desi fans after they featured at least seven of the 56 runway looks featuring sandals that bear a striking resemblance to traditional Indian Kolhapuri Chappals - without any credit. After facing backlash over it, Prada has finally acknowleged that the footwear pieces featured in its Men's 2026 Spring/Summer show in Milan, were inspired by the traditional Indian handcrafted pieces made in specific districts of Maharashtra and Karnataka. In an exclusive response to NDTV, the Prada Group Press Office mentioned, "At Prada Group, we have alwa ...Read More >
Dantewada (Chhattisgarh) [India] July 15 (ANI): The tribal-dominated Dantewada district is all set to make its footprint visible in the high-octane sport of Thai Kick Boxing, as young athletes here have clinched medals in international as well as national events. With the support of the Chhattisgarh Government, the youth of Dantewada are sharpening their skills and preparing for Thai Kick Boxing events to be held in the country and overseas. As Dantewada moves on the path to becoming a hub for producing Thai Kick Boxers, the district is also ready to shed its infamous identity that emerged du ...Read More >
MUMBAI: Tesla yesterday launched its Model Y at about US$70,000 (RM298,000) in India, the highest price among major markets, as the US automaker grappling with slowing sales bets on prospects in a country CEO Elon Musk has long criticised for its high import tariffs. With deliveries estimated to start from the third quarter, Tesla is targeting a niche electric vehicle segment in India that accounts for just 4% of overall sales in the world's third-largest car market. It will compete mainly with German luxury giants such as BMW and Mercedes-Benz rather than domestic mass-market EV players suc ...Read More >
NEW DELHI (Reuters) -An Indian court rejected on Monday a plea by Turkey-based Celebi against a government order revoking the security clearance of the firm to provide aviation ground services in the South Asian nation, three lawyer sources said. Turkey came out in support of Pakistan during its military conflict with India in May, angering many Indians and prompting New Delhi to cancel Celebi's clearance in the "interest of national security". Celebi Airport Services India, in a May 16 filing seen by Reuters, asked the Delhi High Court to set aside that decision, arguing it would impact 3,7 ...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 >
Mumbai, Jun 28 (PTI) Following the backlash after featuring footwear strongly resembling Kolhapuri chappals, Italian fashion house Prada has acknowledged that it was inspired by the Indian handcrafted footwear. "We acknowledge that the sandals featured in the recent Prada Men's 2026 Fashion Show are inspired by traditional Indian handcrafted footwear, with a centuries-old heritage. "We deeply recognize the cultural significance of such Indian craftsmanship," said Lorenzo Bertelli, Prada Group Head of Corporate Social Responsibility, in a letter to Lalit Gandhi, president of Maharashtra Chamb ...Read More >
New Delhi, Jul 2 (PTI) The Delhi High Court on Wednesday asked the Drug Controller General of India to consult experts and relevant stakeholders in deciding a plea over drug combinations sold in the market for weight loss treatment. A bench of Chief Justice D K Upadhyaya and Justice Tushar Rao Gedela asked the petitioner to give a representation to the DGCI, which was asked to decide the matter within three months. Also Read | 'Janaki' Title Row: Malayalam Film Industry Holds Protest in Front of CBFC Office Against Renaming of Suresh Gopi Film. A plea filed by Jitendra Chouksey said license ...Read More >
NEW DELHI - An Indian court rejected on Monday a plea by Turkey-based Celebi against a government order revoking the security clearance of the firm to provide aviation ground services in the South Asian nation, three lawyer sources said. Turkey came out in support of Pakistan during its military conflict with India in May, angering many Indians and prompting New Delhi to cancel Celebi's clearance in the "interest of national security". Celebi Airport Services India, in a May 16 filing seen by Reuters, asked the Delhi High Court to set aside that decision, arguing it would impact 3,791 jobs a ...Read More >
New Delhi, Jul 15 (PTI) The Indian economy is expected to grow at 6.5 per cent in the current financial year, despite geo-political tensions and trade policy uncertainties, Economic Advisory Council to the Prime Minister (EAC-PM) Chairman S Mahendra Dev said on Tuesday. In an interview with PTI, Dev further said that domestic growth will be driven by low inflation, resulting from good monsoon and benign interest rate regime, triggered by three back-to-back rate cuts by the Reserve Bank of India. "There are significant global headwinds like the twin shocks of geo-political tensions and trade ...Read More >
NEW DELHI - India is committed to efforts to develop its restive territory of Jammu and Kashmir, Prime Minister Narendra Modi said on June 6, accusing neighbour Pakistan of seeking to destroy livelihoods there with April's deadly attack on tourists. He was speaking on his first visit to the Himalayan region since Islamist attackers targeted Hindu tourists in the popular Pahalgam area, killing 26 men, triggering hostilities between the nuclear-armed neighbours that ended in ceasefire last month. "The atmosphere of development that emerged in Jammu and Kashmir will not be hindered by the attac ...Read More >
[BENGALURU] Gold prices fell on Monday (Jun 9) as a stronger-than-expected US jobs report cooled expectations of interest rate cuts from the Federal Reserve, while optimism over easing trade tensions between US-China weighed on the bullion's safe-haven demand. Spot gold fell 0.2 per cent to US$3,303.19 an ounce, as at 0056 GMT. US gold futures fell 0.7 per cent to US$3,323.40. Three of US President Donald Trump's top aides will meet with their Chinese counterparts in London on Monday for talks aimed at resolving the trade dispute between the two largest economies that has kept global markets ...Read More >
New Delhi, June 28 (SocialNews.XYZ) After facing severe backlash, Italian fashion house Prada has officially admitted that the Kolhapuri Chappals, featured in the recent Prada Men's 2026 Fashion Show, is inspired by India's handcrafted footwear traditions. In a letter to Lalit Gandhi, president of Maharashtra Chamber of Commerce, Industry, and Agriculture, Prada noted that it is "open for meaningful exchange with artisans". "We acknowledge that the sandals featured in the recent Prada Men's 2026 Fashion Show are inspired by traditional Indian handcrafted footwear, with a centuries-old herita ...Read More >
MUMBAI (Reuters) -The Indian rupee is expected to open lower on Wednesday, tracking declines in most other Asian currencies and equities amid renewed worries over U.S. President Donald Trump's tariffs. The 1-month non-deliverable forward indicated a open in the 85.62-85.64 range, versus 85.52 on Tuesday. The rupee has been largely range bound in recent sessions, holding between the key support zone at 85.90-86.00 and resistance near 85.30. "Both of these levels are difficult to break," a currency trader at a bank said. "You'll likely have to wait until July 9 for a decisive move, and that's ...Read More >
MUMBAI/MILAN, July 2 (Reuters) - Indian footwear sellers and artisans are tapping into nationalist pride stoked by the Prada 'sandal scandal' in a bid to boost sales of ethnic slippers with history dating back to the 12th century, raising hopes of reviving a struggling craft. Sales are surging over the past week for the 'Kolhapuri' sandals that have garnered global attention after Prada sparked a controversy by showcasing similar designs in Milan, without initially crediting the footwear's origi ...Read More >
NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted court-ordered raids on factories suspected of producing fakes. The German shoemaker is pursuing legal action to counter growing counterfeit activity tied to its popular footwear. According to people familiar with the matter, court-appointed lawyers recently inspected several small-scale factories in India to seize suspected counterfeit Birkenstock products. The move comes after Birkenstock filed a trademark infringement lawsuit in the Delhi High Court in M ...Read More >
MUMBAI - Tesla will open its first India showroom in Mumbai on July 15, having imported US$1 million (S$1.3 million) worth of cars and merchandise, marking its entry into the world's third-largest car market despite CEO Elon Musk's complaints about high import tariffs. Grappling with excess manufacturing capacity at its other factories and falling sales, Tesla has pivoted to selling imported cars in India on which it will need to pay about 70 per cent import duty and other levies. Indian Prime Minister Narendra Modi's government has for years wooed Tesla, including forming a new policy to at ...Read More >
Silchar: Assam chief minister Himanta Biswa Sarma on Friday visited the flood-ravaged districts of Hailakandi and Sribhumi in the Barak Valley. He assured affected residents of providing timely disbursement of rehabilitation grants and swift repair of damaged infrastructure.This marks Sarma's second visit to the flood-hit region within four days, underscoring the gravity of the situation. Speaking to the media in Sribhumi after inspecting multiple relief camps, the CM said, "Flood-related problems may persist till July. I will return before Durga Puja to ensure that roads and infrastructure ar ...Read More >
MUMBAI, July 1 (Reuters) - The Indian rupee strengthened on Tuesday, alongside most Asian peers, as worries over U.S. President Donald Trump's fiscal policies and uncertainty around trade deals kept the dollar pinned at a more than three-year low against major peers. The rupee closed at 85.52 per U.S. dollar, up about 0.3% on the day. While the rupee strengthened on the day, it was unable to hold onto gains above the 85.50 mark, with traders pointing to bids from a large state-run bank and a few local private banks. The currency is likely to stay rangebound in the near term unless it convin ...Read More >
Mumbai, Jul 4 (PTI) A PIL has been filed in the Bombay High Court against Italian fashion house Prada for its alleged unauthorised use of the Kolhapuri chappals, and sought compensation to be paid to Indian artisans for allegedly copying their design. Prada in its spring/summer collection showcased their 'toe-ring sandals', which the petition said are deceptively similar to the Kolhapur chappal. These sandals are priced at Rs 1 lakh per pair. "The Kolhapuri chappal is the cultural symbol of Maharashtra," the plea filed by six Pune-based lawyers said. The petition has been filed against the ...Read More >
[BENGALURU] Gold prices steadied on Tuesday (Jul 8) as US President Donald Trump announced sharply higher tariffs on goods from Japan, South Korea and other nations, while higher US treasury yields capped gains. Spot gold fell 0.1 per cent to US$3,331.89 per ounce as at 0035 GMT. US gold futures were steady at US$3,341.80. On Monday, Trump began telling trade partners, including Japan and South Korea, that sharply higher US tariffs would start on Aug 1, marking a new phase in the trade war he launched earlier this year. The Aug 1 effective date for US tariffs was firm, Trump emphasised but ...Read More >
Shimla (Himachal Pradesh) [India], July 8 (ANI): The death toll from the ongoing monsoon fury in Himachal Pradesh has risen to 85, with 54 people losing their lives due to rain-triggered disasters like landslides, cloudbursts, flash floods, and drowning incidents, while 31 people have died in road accidents said State Disaster Management Authority on Tuesday. According to the State Disaster Management Authority's latest cumulative report, since June 20 2025, when monsoon officially set in the state has witnessed widespread damage to life, property, livestock and infrastructure. Also Read | D ...Read More >
Dec 3 (Reuters) - India's top renewable energy agency said on Tuesday it withdrew its ban prohibiting Reliance Power (RPOL.NS), opens new tab from participating in tenders for clean energy projects after a court directive. Last month, the Solar Energy Corporation of India (SECI) had barred Reliance Power from bidding for its tenders for three years and was weighing criminal proceedings against the company after a bank guarantee turned out to be a fake endorsement. The High Court of Delhi had granted a stay last week on the notice of debarment after the Anil Ambani-owned company challenged th ...Read More >
MUMBAI (Reuters): The Indian rupee weakened to its lifetime low on Tuesday, hurt by concerns about a widening trade deficit and likely outflows from local equities, although intervention by the central bank capped losses. The rupee hit a low of 84.93 against the US dollar, before closing at 84.8950, down 0.04% on the day. Benchmark Indian equity indexes BSE Sensex and Nifty 50, closed lower by over 1% each, dragged by weakness in financial stocks and Reliance Industries. Investor sentiment was also dampened after data on Monday showed that India's merchandise trade deficit rose to a record h ...Read More >
MUMBAI(Reuters) -The Indian rupee rose on Thursday after weak U.S. jobs data bolstered Fed rate cut bets, while a U.S.-Vietnam trade deal lifted regional sentiment. Dollar-rupee forward premiums were helped by increased odds of rate cuts by the U.S. central bank as well with the 1-year implied yield touching an over one-month peak. The rupee rose to 85.55 as of 11:30 a.m. IST, up 0.2% on the day. Asian currencies were mostly rangebound while regional equities traded in the green, with India's benchmark indices, the BSE Sensex and Nifty 50 up about 0.4% each. The odds of a Fed rate cut in J ...Read More >
Mumbai, July 7: After Kareena Kapoor, veteran actress Neena Gupta took to social media to call out luxury brand Prada for allegedly copying the traditional Kolhapuri chappal design. Taking to Instagram, the 'Metro In Dino' actress posted a video where she flaunted a handmade pair of Kolhapuris gifted to her by the late Laxmikant Berde. In the clip, Gupta could be heard saying, "So, these Kolhapur slippers are in great demand these days. So, once I did something with Laxmikant Berde. I don't remember what it was. So, I asked him, can you get me these slippers from Kolhapur? He said, yes. So, h ...Read More >
[BENGALURU] Gold prices edged higher on Thursday (Jul 10) as US President Donald Trump's latest tariff announcements kept markets cautious, with investors closely watching trade negotiations, while a slight pullback in the US dollar provided additional support. Spot gold rose 0.2 per cent to US$3,321.04 per ounce, as at 0044 GMT. US gold futures were up 0.3 per cent at US$3,329.10. The US dollar index edged down 0.3 per cent. A lower US dollar makes gold more affordable for overseas buyers. On Wednesday, Trump turned his trade ire against Brazil, threatening Latin America's largest economy ...Read More >
MUMBAI (Reuters) -India's foreign exchange reserves stood at $691.5 billion as of May 30, the governor of the country's central bank said on Friday, down $1.2 billion from the previous week and coming off near-eight month highs. The country's FX reserves are now about $13.4 billion below their all-time high hit in September 2024. "These (reserves) are sufficient to fund more than 11 months of goods imports and about 96% of external debt outstanding," Reserve Bank of India Governor Sanjay Malhotra said in a statement while announcing the monetary policy decision. Changes in foreign currency ...Read More >
Bengaluru: Karnataka Chief Minister Siddaramaiah on Friday said the quality of police investigation has decreased and it needs to be improved. "Although it is a matter of relief that the crime rate in the state has decreased, the quality of police investigation has decreased, and this needs to be improved," Karnataka CM said. He gave these instructions after holding a meeting of senior police officers and a progress review meeting of the police department at the office of the State Director General of Police. He mentioned that although the accused in the robbery case in Bidar is known, he h ...Read More >
Mumbai: Prada could well partner with Indian artisans if it were to decide to produce and commercialise its Kolhapuri chappal-inspired line of men's sandals, the Italian luxury house said. A spokesperson for Prada Group said it "is already in the process of setting up next steps with the relevant parties and supply chain in the event the sandals were to be commercialised. In fact, the entire collection is currently at an early stage of design development and none of the pieces are confirmed to be produced." Lalit Gandhi, president of the Maharashtra Chamber of Commerce, Industry and Agricultu ...Read More >