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 (Reuters) -India's southern state of Kerala has sued Swiss-based Mediterranean Shipping Company and sought $1.1 billion in compensation after one of its container vessels sank and leaked fuel into the Arabian Sea in May. The high court in Kerala issued an order late on Monday asking port authorities to effect "the arrest, seizure and detention" of another MSC ship anchored in the Vizhinjam Port in the state until it deposits securities for the claim amount. MSC did not immediately respond to a Reuters request for comment. An Indian government statement in May said the company had appointed a marine services company for oil removal and environmental clean up. On May 25, Liberia-flagged MSC ELSA3 ship travelling from Vizhinjam on India's southern tip to Kochi had capsized. The incident had resulted in leaking fuel and releasing cargo, some of which contained hazardous material. The incident "has resulted in massive pollution of Kerala's marine ecosystem, with oil slicks and floating cargo causing serious detriment to the environment, coastal fisheries and public health," the state government said in its court filing, which is not public but was reviewed by Reuters. After the May incident, the state government asked local fishermen to avoid going into the sea and distributed cash and food relief to around 105,518 families involved with fishing industry. (Reporting by Arpan Chaturvedi; Editing by Aditya Kalra and Raju Gopalakrishnan)
Adani Group's listed stocks, which at one point saw as much as $34 billion wiped off their market value, meanwhile recovered ground as some partners and investors rallied behind it. State Bank of India will not stop lending to ongoing Adani projects that are nearing completion, two sources told Reuters, but will exercise caution when disbursing loans to ensure all terms and conditions are being met. Bank of India, Union Bank, ICICI Bank, Canara Bank, IDBI Bank and RBL Bank, which have relatively smaller exposures to the Adani Group, are undertaking similar exercises, sources said. A regulat ...Read More >
New Delhi, June 7 (SocialNews.XYZ) Union Minister of Earth Sciences (Independent Charge) Jitendra Singh on Saturday left for France to lead a high-level Indian delegation at the International Meet on Oceans. The event will be held at the French city of Nice, as part of the United Nations Ocean Conference (UNOC3) from June 8 to 13. "Looking forward to representing India at the French picturesque coastal city of Nice, in the United Nations Ocean Conference," Singh shared in a post on X. At the general debate at UNOC3, Singh will articulate India's stance on ocean policy, highlighting the coun ...Read More >
New Delhi [India], June 7 (ANI): Union Minister of Earth Sciences Jitendra Singh left for France on Saturday to lead a high-level Indian delegation at the International Meet on Oceans. Scheduled to be held at the French picturesque coastal city of Nice, the United Nations Ocean Conference (UNOC3) will take place from June 8 to 13. The high-level international gathering will bring together leaders, scientists, policymakers, and civil society actors from across the globe to discuss sustainable ocean governance and concrete actions for the health of the world's oceans, an official release said. ...Read More >
Delhi's air pollution continues to worsen, with the Air Quality Index (AQI) hitting a hazardous 490, despite the government's 21-point plan to tackle the issue. The city’s residents are struggling to breathe, even indoors, and hospitals are overwhelmed with patients facing respiratory problems. The pollution crisis is exacerbated by the lack of cooperation among Delhi and neighboring states, and the central government, with each blaming the other. This pollution not only threatens public health but also jeopardizes Delhi's economic future, as it could drive away professionals and harm business ...Read More >
In a groundbreaking conservation effort, a large-scale underwater cleanup at Sindhudurg’s coral reefs removed 300 kg of marine debris, marking a significant step in protecting the fragile ecosystem. Organized by environmental groups, the Maharashtra Forest Department, and local divers, the operation targeted harmful pollutants like fishing nets, plastic, and glass bottles. The cleanup, which took place over two days, aims to restore coral health by removing debris that suffocates corals and disrupts marine life. The initiative, supported by local communities, sets the stage for further efforts ...Read More >
New Delhi, Jun 5 (PTI) Fintech firm BimaPay Finsure on Thursday said it has entered into corporate insurance financing and aims for Rs 20 crore in premiums in 2025-26. Launching the pilot phase with insurance partners, BimaPay said the initiative will allow businesses to pay premiums in easy equated monthly instalments (EMIs) instead of bearing the burden of full upfront costs. Also Read | Who Is Pinaki Misra? From Age to Family Background and Net Worth, Here's All About BJD Leader With Whom Mahua Moitra Reportedly Married. The company aims to finance over Rs 20 crore worth of premiums by t ...Read More >
New Delhi [India], June 5 (ANI): External Affairs Minister S Jaishankar, in the presence of leaders of Central Asian countries, touched upon various business opportunities and complementarities between these respective economies on Thursday. Jaishankar suggested a few areas where India and Central Asian countries should collaborate to improve their economies. Jaishankar noted that India's trade and economic ties with Central Asia have actually shown a very strong positive trend over the last decade. However, he has also said that the trade figures do not reflect the full potential. Given th ...Read More >
Hyderabad: In a significant boost for 'Make in India' and 'Atmanirbharta' in the aerospace and defence sector, and Hyderabad's growing stature as a global aerospace hub, the complete fuselage of the Rafale fighter jet will now be made in India at Hyderabad. This move marks the first time that these Rafale components will be manufactured outside France for the Indian as well as global markets.French aerospace major Dassault Aviation has signed four production transfer agreements with Tata Advanced Systems Ltd (TASL) for manufacturing key sections of the Rafale fighter jet, including the lateral ...Read More >
MUMBAI: A directive from the state prohibiting the sale of fish at Sassoon Docks, one of Mumbai's oldest and most active fish landing sites, has stirred the waters for the fishing community, especially Kolis at Colaba and Cuffe Parade. The ban on fish sales, recently imposed by the Maharashtra state fisheries department, is a first at the dock and, according to the Koli community, oversteps the annual ban on fishing during the monsoon from June 1 to July 31. While the community acknowledges the need to prohibit fishing during the monsoon months, as it protects marine biodiversity during the b ...Read More >
The National Investigation Agency (NIA) has charged five individuals, including goldy Brar, in relation to the 2024 Gurugram club bombing plot, as revealed in a recently filed chargesheet. This case involves a conspiracy to bomb two clubs, aiming to disrupt communal harmony in Haryana, with the banned terrorist group Babbar Khalsa International (BKI) implicated. The NIA's investigation highlights the severity of the plot. Those charged include satinderjit Singh (Goldy Brar), Sachin Talian, Ankit, Bhavish, and Randeep Singh. News Directory 3 provides crucial updates on sensitive cases such ...Read More >
FRANKFURT (Reuters) - Import tariffs expected to be implemented by the administration of U.S. President-elect Donald Trump could lower economic growth and inflation in the 20 nations sharing the euro, European Central Bank board member Piero Cipollone said on Tuesday. Most economists agree that the possible tariffs would impact growth, though views diverge on the effect on consumer prices. Some argue the U.S. trade barriers will push up the value of the dollar, making imports of key commodities more expensive, while likely retaliation from Europe will also raise costs. Cipollone, speaking i ...Read More >
New Delhi: Three Indian citizens vanished mysteriously in Tehran. Darkness closed in as hope seemed lost. A ruthless Pakistani gang with potential links to ISI snatched them away, casting a shadow of fear. But relentless Indian diplomats refused to back down. Against all odds, a daring rescue mission ignited. Now, the captives are free, and a chilling game of espionage comes to light. The Punjab-based trio - Amritpal Singh from Hoshiarpur, Jaspal Singh from SBS Nagar and Hushnapreet Singh from Sangrur - had landed in Iran on May 1. Promised a clandestine route to Australia via Dubai and Tehra ...Read More >
NEW DELHI (Reuters) -Trade talks between Indian and U.S. officials have been extended into next week as both sides seek consensus on tariff cuts in the farming and auto sectors, aiming to finalise an interim deal before a July 9 deadline, Indian government sources said. A U.S. delegation led by senior officials from the Office of the United States Trade Representative (USTR) held two days of discussions in New Delhi with Indian trade officials headed by chief negotiator Rajesh Agrawal, the sources said. "The two countries are actively engaged in focused discussions to facilitate greater mark ...Read More >
Bengaluru (Karnataka) [India], June 7 (ANI): Two top Karnataka State Cricket Association (KSCA) officials -- secretary A Shankar and treasurer ES Jairam -- resigned from their posts during an emergency managing committee meeting held on Saturday, accepting 'moral responsibility' for stampede near M Chinnaswamy Stadium in Bengaluru. The incident occurred during celebrations following Royal Challengers Bengaluru's (RCB) maiden IPL title win and claimed 11 lives and left dozens injured. KSCA President Raghuram Bhat confirmed the development, saying that the resignations were discussed and accep ...Read More >
Kochi, Feb 3 (PTI) The opposition Congress-led UDF on Monday intensified its criticism of Union Ministers George Kurian and Suresh Gopi over their recent controversial statements, calling their remarks "immature" and accusing BJP leaders like them of having contempt for Kerala. Addressing reporters here, the Leader of Opposition in the state Assembly, V D Satheesan, strongly criticised the "backward" remark made by Kurian, the Minister of State for Minorities and Fisheries, on Union Budget day, and stated that Kerala has only sought the funds it rightfully deserves from the centre. Taking a ...Read More >
NEW DELHI: Former head of Air India and chairman of the Railway Board Ashwani Lohani is the new Prime Ministers Museum and Library (PMML) director. The official order for his appointment was issued on Wednesday. A 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), Lohani is known for turning around various organisations during his illustrious career. Following his retirement from IRSME service, he joined the GMR Group as the CEO. According to the order dated June 4, his appointment to the post of director, Prime Ministers Museum and Library in the rank and pa ...Read More >
Katra: Prime Minister Narendra Modi visited Jammu and Kashmir on Friday to inaugurate multiple rail projects, including the world's highest Chenab Rail Bridge, the Anji Khad Bridge, and the Katra-Srinagar Vande Bharat Express, as part of the Udhampur-Srinagar-Baramulla Rail Link. These railway projects directly connect Jammu and Kashmir to the rest of the country. The Udhampur-Srinagar-Baramulla Rail Link is an all-weather railway corridor designed to provide seamless connectivity to the region through the rail network. During his visit, PM Modi reviewed the Chenab bridge, world's highest ra ...Read More >
Srinagar, Jun 7 (PTI) Authorities on Saturday barred Eid prayers from taking place at the Eidgah ground and the Jama Masjid in the old city here, while Hurriyat Conference chairman Mirwaiz Umar Farooq claimed that he was put under house arrest. "Anjuman Auqaf Jama Masjid Srinagar deeply regrets to inform that the authorities have once again disallowed Eid-ul-Adha prayers at the Eidgah as well as at the historic Jama Masjid in Srinagar by closing the gates of the mosque and deploying police personnel outside," the management of the historic mosque said in a statement. ...Read More >
Dozens of two-wheelers skidded on a Hyderabad road after an oil tanker leaking fuel passed from the area. The incident which occurred on Hyderabad's Kushaiguda-Nagaram road left several bikers injured. In a video, which went viral after the accident, men and women were seen sprawled on the road along with their fallen two-wheelers. While some of them are still on the road, others can be seen attempting to pick up their vehicles. "A road stretch between ECIL & Keesara has turned slick due to a diesel spill. Motorists are urged to drive carefully and consider alternate routes to avoid accident ...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: Highlighting a recent directive from the Central Board of Secondary Education (CBSE) on the establishment of 'sugar boards' in schools, the Food Safety and Standards Authority of India (FSSAI) has urged states to support and implement the initiative to help curb excessive sugar consumption among schoolchildren and foster healthier dietary habits from an early age. The matter was discussed during the 47th Central Advisory Committee (CAC) meeting of the FSSAI, held on May 27. According to the FSSAI, in response to Prime Minister Narendra Modi's call for urgent action against obesity ...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 >
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 >
European nations are investigating a Chinese cargo ship for underwater sabotage in the Baltic Sea, according to a report. Earlier this month, two undersea fibre-optic data cables were cut in the Baltic Sea. The first cable was damaged between Sweden and Lithuania and the second cable was damaged between Germany and Finland. Shortly after the damage was discovered, Sweden took the lead in investigations and European nations -- all members of the North Atlantic Treaty Organization (Nato) -- began pursuing a Chinese cargo ship in the region. The Chinese ship, Yi Peng 3, is currently anchored in ...Read More >
NEW DELHI, June 5 (Reuters) - Indian and U.S. are holding high-level talks this week, aiming to finalise tariff cuts in sectors such as farm and automobiles as part of an interim deal, two government sources said, with an announcement likely later this month. A U.S. delegation led by senior officials from the Office of the United States Trade Representative (USTR) began closed-door, two-day discussions in New Delhi on Thursday with Indian trade officials headed by chief negotiator Rajesh Agrawal ...Read More >
A crucial round of negotiations on a global plastic pollution treaty has begun in Busan, South Korea. Led by Norway and Rwanda, 66 countries and the EU are pushing for a legally binding agreement to control plastic production, consumption, and waste management. However, key points of contention include limits on plastic production and the ban of single-use plastics. With plastic production set to rise 70% by 2040, negotiators aim to protect human health and the environment while promoting recycling, reducing harmful chemicals, and supporting sustainable plastic practices. Industry leaders and ...Read More >
NEW DELHI, Dec 13 (Reuters) - India should do more to tax its super-rich given its high levels of inequality, French economist and author Thomas Piketty said on Friday. The writer of the best-selling book "Capital in the 21st Century" called on India to follow through on a July pledge by finance ministers from the Group of 20 major economies to cooperate on effectively taxing the world's largest fortunes. "India should be active in taxing the rich," Piketty said at an event organised by Delhi-b ...Read More >
Nashik (Maharashtra) [India], June 5 (ANI): Maharashtra Chief Minister Devendra Fadnavis on Thursday said that the Hindu Hridaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg will play an essential role in the development of the state. This highway will be a corridor of prosperity for the state. This highway will be connected to Vadhan Port shortly, and CM Fadnavis added it. Chief Minister Fadnavis said that land has been acquired for the Samruddhi Highway in record time. Due to this route, 24 districts of the state, including Vidarbha, Marathwada, and North Maharashtra, have been ...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 >
FACT CHECKThe slain lawyer was not defending Chinmoy Das; he was part of the Chattogram Bar Association Several news outlets have falsely claimed that a lawyer who was representing arrested Hindu priest Chinmoy Krishna Das Brahmachari was killed in clashes that took place at Bangladesh's Chattogram Court premises on November 26. BOOM was able to confirm that the slain lawyer Saiful Islam, who was a member of Chattogram Bar Association, was not representing Chinmoy Krishna Das Brahmachari as his legal counsel. Tensions erupted in Chattogram, the port city of Bangladesh, following the arrest ...Read More >