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 7 (ANI): Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, on Monday announced multiple initiatives by the Government to boost the waterways and maritime sector in the region. With an investment of 5,000 crores earmarked, the Union Government has drawn up major initiatives in this regard, a release from the Ministry of Ports, Shipping and Waterways said. As per the release, over the past 11 years, the Ministry of Ports, Shipping, and Waterways (MoPSW) has transformed India's maritime sector, achieving record growth in cargo handling, capacity, and coastal shipping. Major ports have nearly doubled their capacity, and cruise tourism is rising with ambition. New terminals and 50,000 youth from the Northeast will be trained for maritime jobs. Key legislative and digital reforms, as well as green shipping initiatives and projects such as the Kaladan Multi-Modal Transport Project, are enhancing regional connectivity and trade. India's ports are now globally competitive, with nine ranking in the World Bank's top 100 and Visakhapatnam Port reaching the top 20. 'Under the visionary leadership of Prime Minister Narendra Modi ji, we have revitalised India's maritime sector as never before. From historic growth in port capacity and cargo handling to pioneering green shipping, cruise tourism and skill development for our youth -- these achievements reflect the Modi government's unwavering commitment to make India a global maritime powerhouse and drive inclusive development across every coastal and riverine region,' Sarbananda Sonowal said. The Union Minister further stated that the government aims to train 50,000 youths from the region in maritime skills over the next decade, offering them assured employment opportunities in the growing sector. The Maritime Skill Development Centre (MSDC) in Guwahati, as well as the upcoming Centre of Excellence (CoE) in Dibrugarh, aims to power this transformation. The CoE will be developed with an investment of 200 crores. Both the centres are likely to produce 500 jobs annually. The Union Minister said, 'Modi ji has always envisioned how Yuva Shakti can bring about real transformation in the country. Our vision is to train, enable, and empower 50,000 youth from the Northeast with world-class maritime skills over the next decade, ensuring meaningful employment and growth. Our centres in Guwahati & Dibrugarh will be the backbone of this transformation.' The Ministry has undertaken projects worth 1,000 crore in the Northeast's inland waterways sector over the past two years, with 300 crore works completed and 700 crore slated for completion by 2025. Major initiatives include permanent cargo terminals at Pandu, Jogighopa, Dhubri, Bogibeel, Karimganj and Badarpur; year-round fairway dredging; a new approach road to Pandu Port; heritage restoration in Dibrugarh; tourist jetties worth 299 crore; skill development centres at Guwahati and Dibrugarh; and plans for lighthouses at Bogibeel, Biswanath Ghat, Silghat and Pandu. Feasibility studies have been completed, and it has been found feasible to operate in Guwahati, Tezpur, and Dibrugarh. Cruise vessels are being procured under central schemes. For Mizoram, Nagaland, and Tripura, efforts are underway to expand IWT infrastructure and promote water-based tourism. The operationalisation of the Indo-Bangladesh Protocol Route (IBPR) offers new trade routes that bypass the Siliguri Corridor, thereby strengthening regional connectivity and aligning with the broader vision of Atmanirbhar Bharat. Responding to a query on the status of the Kaladan Multimodal Transit Transport Project (KMTTP), Sarbananda Sonowal said, 'Kaladan Multi-Modal Transit Transport Project is the result of India and Myanmar. This is a strategic initiative aimed at enhancing connectivity between India's Northeast and Myanmar, and is expected to be fully operational by 2027. Under the visionary leadership of Prime Minister Narendra Modi, the Northeast stands at the heart of Bharat's development agenda. Empowered by Modi ji's transformative 'Act East' policy, this once landlocked region is now poised for direct and shorter access to international sea routes. The swift execution of the Sittwe Port in Myanmar is a testament to this commitment. Once fully operational, the region will unlock new trade opportunities not just for Northeast India but also for Bangladesh, Bhutan, Nepal, and Myanmar by connecting them with Southeast Asia. This milestone truly embodies Modi ji's guiding philosophy of 'Sabka Saath, SabkaVikas' -- collective effort for inclusive growth.' From Paletwa in Myanmar to Zorinpui in Mizoram, the Sittwe port is connected to Paletwa through an inland waterway and from Paletwa to Zorinpui through a road component. From Sittwe, Myanmar, to Sarboom, Tripura, goods from Kolkata to Sittwe Port can be shipped to Teknaf Port, Bangladesh, which is just 60 nautical miles from Sittwe. From Teknaf Port, goods can be transported by road to Sabroo,m which is 300 kms away. Sabroom has an integrated customs border between Bangladesh and Tripura. Sittwe Port and Kaladan Project will immensely benefit Tripura by way of a significant reduction in transportation time and logistics costs. Major cargo for export from Sittwe Port includes rice, Timber, Fish and seafood, Petroleum products, and Garments and textiles. The major cargo for import at Sittwe Port, i.e., imports by Myanmar, includes construction materials such as cement, steel, and bricks, among others. Other key initiatives include the deployment of 100 barges operated by a major global company on NW2 & 16 by 2025, intended to enhance cargo movement across Assam and neighbouring states significantly. To ensure round-the-year navigability, the ministry plans to deploy 10 amphibian and cutter section dredgers, backed by an investment of 610 crore. Sonowal also announced plans to develop 85 community jetties across the Northeast to improve local connectivity. Speaking on this, Sarbananda Sonowal said, 'To unlock the true economic potential of the Brahmaputra and Barak rivers, we are investing 610 crore to deploy 10 state-of-the-art dredgers, ensuring all-weather navigability. This will transform cargo movement, create new trade routes, and strengthen economic linkages across Assam and the entire Northeast. By combining this with 100 modern barges by global logistics major from Germany, Rhenus, and 85 community jetties, we aim to build an integrated and sustainable waterways network that empowers local communities and drives growth,' he added. Highlighting efforts to support tourism and regional trade, Sarbananda Sonowal shared that Rs 300 crore will be invested in building new tourism and cargo jetties at Silghat, Neamati, Biswanath Ghat, and Guijan. In a major move toward modern urban transportation, Water Metro projects are planned in Guwahati, Tezpur, and Dibrugarh, with feasibility studies already completed. The government will also set up lighthouses at Pandu, Tezpur, Biswanath, and Bogibeel, each equipped with IMD centres, with support from the Ministry of Environment, Forests, and Climate Change, Government of India, to provide accurate local weather forecasts. 'These projects reflect our commitment to transform the Northeast into a major hub of waterways-based trade, tourism and employment, aligned with PM Narendra Modi's vision of inclusive development,' Sonowal said. (ANI)
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 >
nion Minister of State for Labour and Employment Shobha Karandlaje cited statistics in the Lok Sabha on Monday to show that youth unemployment rates in India were lower than global levels. The minister cited a report by the International Labour Organisation's (ILO) Institute for Human Development (IHD) which states that the worldwide youth unemployment rate was 15.6 per cent in 2021. Further, as per World Employment and Social Outlook Trends, 2024 by ILO, globally, in 2023, the youth unemployment rate was 13.3 per cent. On the other hand, the latest annual Periodic Labour Force Survey (PLFS ...Read More >
The Cure SMA Foundation of India has praised the government’s recent efforts to address rare diseases, including Spinal Muscular Atrophy (SMA), with over Rs 900 crore allocated for treatment procurement. The foundation urges swift action to implement the procurement process within 45 days, following the Delhi High Court’s directive. SMA, a life-threatening genetic disease, has limited treatment access in India. While the drug Risdiplam has brought hope, collaborative efforts are needed to ensure wider availability. Experts stress the importance of a holistic approach to SMA care, citing Kerala ...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 >
The Indian government launched the Rs. 1,435 crore PAN 2.0 project. Announced by Information and Broadcasting Minister Ashwini Vaishnaw, the project aims to establish the PAN number as a common business identifier across all government digital systems. PAN 2.0 Project Launch The Rs. 1,435 crore PAN 2.0 the project aims to establish the PAN number as a common business identifier across all government digital systems. CCEA Approval The Cabinet Committee on Economic Affairs (CCEA) approved the project under the Income Tax Department. As per Information and Broadcasting Minister Ashwini Vaish ...Read More >
Mumbai Indians (MI) made strategic moves in the IPL 2025 mega-auction, securing New Zealand pacer Trent Boult for ₹12.50 crore. MI owner Akash Ambani praised Boult’s invaluable skill in swinging the new ball, acknowledging the team’s struggles when he wasn’t playing for them in recent years. The franchise also acquired England’s Reece Topley for ₹75 lakh and New Zealand spinner Mitchell Santner for ₹2 crore. MI further strengthened their spin department by signing young Afghan talent Allah Ghazanfar for ₹4.80 crore, who has impressed with his performances in international cricket. ...Read More >
In this edition of Frontline Conversations, former Maharashtra Women and Child Development Minister Aditi Tatkare discusses how the Ladki Bahin scheme, which provided direct cash transfers to 2.35 crore women, transformed both the economic landscape and political dynamics of the State. The programme, which distributed Rs.7,500 across five instalments to women earning less than Rs. 2.5 lakh annually, not only empowered women with financial independence but also proved to be a decisive factor in Mahayuti's electoral victory, marking a shift in Maharashtra's traditionally male-dominated political ...Read More >
India readies a sea change for domestic shipping as well as global shipping through key bills The centre will move the Merchant Shipping Bill, 2024 and Coastal Shipping Bill, 2024 for consideration and passing during the winter session of parliament. These key legislations are aimed at holistic growth of Coastal Shipping and reducing the compliance burden for ships under the Indian flag. "The Merchant Shipping Bill deals with implementation of India's obligations under various International Conventions and technical aspects maritime and shipping sector's regulations. Coastal Shipping Bill wi ...Read More >
Union Minister of Rural Development and Agriculture & Farmers' Welfare Shri Shivraj Singh Chouhan launched the third edition of Nayi Chetna - Pahal Badlaav Ki, a national campaign against gender-based violence, at Rang Bhawan Auditorium, New Delhi yesterday. Delivering his address, Shri Chouhan stated that the Government has taken a slew of initiatives for women's economic and social development. He stressed that gender-based violence is not an issue that persists in rural areas, but in urban areas as well. He said with the presence of Union Minister of Women and Child Development Smt. Annpurn ...Read More >
Chandigarh [India], December 3 (ANI): Punjab Legislative Assembly Leader of Opposition and Congress leader Partap Singh Bajwa on Tuesday, slammed the BJP-led central government for neglecting the interests of farmers in Punjab and Haryana. Bajwa's scathing attack comes amidst growing discontent among farmers in the region, who feel their concerns have been ignored by the ruling party. "Ever since the BJP government has come to power, they have not taken a single decision that is in the interest of the farmers of India, especially the farmers of Punjab and Haryana. It is their fundamental rig ...Read More >
New Delhi [India], November 28 (ANI): India has expressed its concern over the escalating incidents of violence against Hindu minorities in Bangladesh and desecration, and damage to their places of worship, and has also called on the interim government there to ensure the safety of minorities. In a response to question asked by RJD MP AD Singh, Minister of State for Ministry of External Affairs, Kirit Vardhan Singh in a written reply to Rajya Sabha, stated that the "primary responsibility" for the protection of life and liberty of all citizens of Bangladesh, including minorities, "rests with ...Read More >
Champhai (Mizoram) [India], December 3 (ANI): Assam Rifles, in collaboration with the Excise and Narcotics Department, recovered 22 grams of Heroin No. 4 worth Rs 15.40 lakh and apprehended a woman in the Zote area of Champhai district on Monday. The operation, based on specific intelligence, led to the discovery of the contraband hidden inside the woman's clothing bag. The suspect, identified as 40-year-old Tlangmawii, along with the seized consignment, has been handed over to the Excise and Narcotics Department, Champhai, for further legal proceedings. Also Read | Rahul Gandhi To Visit Sam ...Read More >
Champhai (Mizoram) [India], December 3 (ANI): Assam Rifles, in collaboration with the Excise and Narcotics Department, recovered 22 grams of Heroin No. 4 worth Rs 15.40 lakh and apprehended a woman in the Zote area of Champhai district on Monday. The operation, based on specific intelligence, led to the discovery of the contraband hidden inside the woman's clothing bag. The suspect, identified as 40-year-old Tlangmawii, along with the seized consignment, has been handed over to the Excise and Narcotics Department, Champhai, for further legal proceedings. In a separate operation aimed at coun ...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 >
Bhubaneswar (Odisha) [India], December 3 (ANI): Producer Ektaa R Kapoor on Tuesday met with Odisha Chief Minister Charan Majhi in Bhubaneshwar. Visuals from the meeting surfaced online in which CM Mohan Charan Majhi and Ektaa could be seen exchanging warm pleasantries. Also Read | 'The Sabarmati Report': Union Home Minister Amit Shah Praises Vikrant Massey Starrer for Revealing the Truth Behind Godhra (View Post). Ektaa also visited Lingaraja Temple and offered prayers there. Notably, on Monday, Ektaa along with the team of 'The Sabarmati Report' attended a special screening of the film wi ...Read More >
New Delhi [India], December 3 (ANI): Oilfields (Regulation and Development) Amendment Bill, 2024 to expand the definition of mineral oils and include petroleum and natural gas passed in the Rajya Sabha on Tuesday. The bill was introduced by Union petroleum and natural gas minister Hardeep Singh Puri for consideration and passing. The Bill will regulate the exploration and extraction of natural gas and petroleum. The amended bill expands the definition of mineral oils to include petroleum and natural gas in it. Also Read | Pune: Doctors Perform Rare Laser Surgery on Woman Pregnant With Monoam ...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 >
Chief Minister Mohan Yadav, campaigning to invite global investors to the Global Investors Summit to be held in Bhopal in February 2025, addressed an interactive session with industrialists during a roadshow in London, UK, on Tuesday. Yadav praised the dynamic leadership of Prime Minister Narendra Modi for the rapid industrial development seen across India. Inviting the industrialists to invest in Madhya Pradesh, he highlighted that the state possesses one of the largest land banks in the country. Madhya Pradesh has transparent and investor-friendly policies and is a leader in the mining and ...Read More >
The Indian government has announced a 375km rail network expansion, aimed at enhancing economic growth and connectivity in North Maharashtra, Madhya Pradesh, and Uttar Pradesh. With a total cost of approximately Rs79.27bn ($1.05bn), these projects are aimed to be completed within four years. Union Minister of Railways, Ashwini Vaishnaw, detailed the Cabinet Committee on Economic Affairs' approval of three railway infrastructure projects. The projects include the Jalgaon-Manmad fourth line (160 km), Bhusawal-Khandwa third and fourth lines (131km), and the Prayagraj (Iradatganj)-Manikpur thir ...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 >
Srinagar (Jammu and Kashmir) [India], December 2 (ANI): Jammu and Kashmir National Conference (JKNC) President Farooq Abdullah claimed that Muslims are feeling unsafe and stated that there is no discrimination based on religion, as guaranteed by the Constitution. The former Chief Minister of Jammu and Kashmir also said that the government should treat Muslims without any discrimination. "...There is no doubt that Muslims are feeling unsafe. I will ask the govt of India to stop that. 24 crore Muslims cannot be thrown into the ocean. They (the govt) should treat Muslims equally, there is no di ...Read More >
Mumbai, Dec 3 (PTI) Maharashtra's caretaker Chief Minister Eknath Shinde on Tuesday visited a private hospital in Thane for a "check-up," two days before a new CM is sworn in at an open ground ceremony in south Mumbai. Even as it is not known yet who would take oath as chief minister at Azad Maidan on the evening of December 5, preparations are in full swing for the ceremony, to be attended by Prime Minister Narendra Modi, about 2,000 VVIPs and some 40,000 supporters. Shinde, who had been staying at his private residence in Thane for the last few days, visited the hospital in the morning. "I ...Read More >
Chennai, Dec 3 (PTI) Danfoss, a leader in heating, ventilation, air-conditioning and compressors has set a target to progressively ramp up local manufacturing capabilities over the next five years, supporting the Centre's Make in India campaign, the company said on Tuesday. Danfoss India, a subsidiary of Denmark-based Danfoss, earlier this year committed to a Rs 500 crore investment aimed at developing local manufacturing for HVAC (Heating, Ventilation, and Air-conditioning), and refrigeration compressors and controls. As the country's heating, ventilation, air-conditioning, and refrigeratio ...Read More >
Kolkata: The Enforcement Directorate (ED) conducted raids at multiple locations in West Bengal in connection with irregularities in the medical admissions in the state under the non-resident Indian (NRI) quota. The irregularities in medical admissions come after a major recruitment scam in Bengal in 2022, where former Education Minister Partha Chatterjee and his close aide were arrested. The raids and search operations were conducted in multiple locations in the state. ED reportedly started the investigation based on a complaint filed in the Electronic Complex Police Station under Bidhannagar ...Read More >
New Delhi, Nov 26 (UNI) The existing PAN (Permanent Account Number) card holders are not required to apply for new PAN under the upgraded system (PAN 2.0) which has been approved by the central government, apex direct tax policy-making body Central Board of Direct Taxes (CBDT) said on Tuesday. The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on November 25, 2024 approved the Income Tax Department's PAN 2.0 project aimed at upgrading the existing PAN system and making it more user-friendly. The CBDT said in a press release on Tuesday that the PAN 2.0 pr ...Read More >
Guwahati, November 27 (IANS): Union Tourism and Culture Minister Gajendra Singh Shekhawat on Wednesday underscored the northeastern region's legacy, cultural diversity, and natural wealth emphasising its rich cuisine, crafts and biodiversity while inaugurating the 12th edition of the four-day long International Tourism Mart (ITM) in Assam's Kaziranga. Speaking on the occasion, the Union Minister said that the ITM is a remarkable opportunity for the northeast India to showcase its rich culture and diversity to the world, adding that the event also offers a platform for people from across the g ...Read More >
Chennai, Dec 3 (PTI) Danfoss, a leader in heating, ventilation, air-conditioning and compressors has set a target to progressively ramp up local manufacturing capabilities over the next five years, supporting the Centre's Make in India campaign, the company said on Tuesday. Danfoss India, a subsidiary of Denmark-based Danfoss, earlier this year committed to a Rs 500 crore investment aimed at developing local manufacturing for HVAC (Heating, Ventilation, and Air-conditioning), and refrigeration compressors and controls. Also Read | What Is 'Tankhah', Religious Punishment Given to Sukhbir Sing ...Read More >
New Delhi [India], November 19 (ANI): Special measures, including the use of water sprinklers, have been implemented at the Delhi Zoo to combat air pollution and ensure that wild animals are not adversely affected. The Director of the National Zoological Park, Dr. Sanjeet Kumar, on Monday, highlighted the challenges faced by zoo management during winter. Speaking to ANI, Dr. Kumar said, "As soon as the winter season begins, the zoo management faces two challenges. First, the pollution levels rise after Diwali, and second, the onset of winter... The area around the zoo is very green, and loca ...Read More >
New Delhi [India], November 29 (ANI): Aam Aadmi Party MPs on Friay staged a protest in the premises of the Parliament, alleging deteriorating law and order situation in the national capital. The protest was held by AAP leaders Sanjay Singh, Raghav Chadha, Sandeep Pathak and other party leaders. On Thursday, an explosion was reported in Delhi's Prashant Vihar on Thursday. Fire tenders were at rushed to the site and teams of National Security Guard (NSG) commandos Delhi Police Crime Branch, Special Cell and Bomb Disposal Squad also reached. A high alert was sounded in the national capital afte ...Read More >
Odisha experienced light showers on Friday as a deep depression formed over the southwest Bay of Bengal. Bhubaneswar, preparing for Prime Minister Narendra Modi's visit, saw drizzles and extensive cloud cover due to the developing weather system. The India Meteorological Department (IMD) forecasted light rain in districts like Balasore, Bhadrak, and Cuttack until Saturday morning. While the depression is moving north-northwest and is expected to cross the Tamil Nadu-Puducherry coasts with winds of 55-65 kmph, the IMD confirmed it poses no direct threat to Odisha, though rain could occur due to ...Read More >