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.
SMPL New Delhi [India], December 5: The Indian Dispute Resolution Centre (IDRC), in collaboration with the Bar Council of India's IIULER, successfully hosted the 3rd Arbitrate in India Conclave, 2024 on 29th November 2024, at the India International Centre, Lodhi Estate, New Delhi. This landmark event commemorated IDRC's fourth anniversary as a leading institutional arbitration center in India and the Asia-Pacific region. Vienna International Arbitral Centre, Austria joined hands with IDRC in organizing the Conclave. The Conclave featured two insightful panel discussions India as a Hub for Institutional Arbitration: Ad-hoc v. Institutional Arbitration and Arbitration in Banking and Finance Disputes: The Way Forward The event brought together prominent Jurists, Arbitrators, policymakers, Banking-NBFC heads and industry leaders to discuss India's progress in institutionalising arbitration and the roadmap for its future. The Keynote Address was shared by Harsh Malhotra, Union Minister of State of Corporate & MoRTH. The Conclave was graced by esteemed dignitaries including Justice Hima Kohli, Former Judge, Supreme Court, R. Venkataramani, Attorney General of India, Manan Kumar Mishra, Senior Advocate, Chairman, BCI & MP, Tejas Karia, Partner and Head of Arbitration, SAM, Ratan K Singh, Senior Advocate, Supreme Court of India and International Member, Keating Chambers, London. The opening session of the Conclave featured an inspiring inaugural address by Manan Kumar Mishra, Chairman of the BCI, who emphasized the importance of arbitration in India's rapidly growing economy. While lauding BCI's collaboration with IDRC he remarked that the BCI is committed to leading reforms that not only promote institutional arbitration but also ensure that India becomes the destination of choice for resolving disputes globally. Justice Hima Kohli as the Chair of the Panel Discussion shed light on the role of courts in international arbitration, emphasizing the need for balance the frequent amendments to arbitration laws often lead to challenges, resulting in prolonged litigation that escalates from High Courts to the Supreme Court, with increasing judicial scrutiny at each level. Therefore, we must strive to bring reforms without amending the laws. R. Venkataramani as the Co-Chair of the Panel Discussion highlighted the need to transition from the ad-hoc arbitration culture. He added that Govt is committed to strengthen arbitration institutions in India and in the Arbitration and Conciliation Amendment Bill, 2024 it is proposed to introduce Emergency Arbitration and allow arbitral institutions to have in-house Appellate Tribunals. Tejas Karia highlighted the advantages of institutional arbitration lies in its established set of rules, ensuring uniformity and adherence to globally recognized best practices. The first Panel Discussion was moderated by Arush Khanna, who steered the session with insightful questions about the challenges and opportunities in institutional arbitration in India. The Keynote Address shared by Harsh Malhotra, Union Minister of State of Corporate Affairs and Road Transport and Highways highlighted the historical Legacy of Arbitration in Indian Vedic Culture ingrained in our Upanishads and Panchayat System. He shared the Govt's commitment to strengthen the Institutional Arbitration ecosystem in our country and cited 2024 Amendment Bill as another push in that direction. The second panel, 'Arbitration in Banking and Finance Disputes: The Way Forward', focused on the unique challenges and opportunities in resolving financial disputes through arbitration. The Panellists for the Panel Discussion were Amit Goyal, Partner, Forensic & Integrity Services, EY India, Sanjay Aggarwal, Divisional Head, Retail Assets, Edelweiss Asset Reconstruction, Aseem Chaturvedi, Partner, Dispute Resolution, Khaitan & Co. The panel discussion was moderated by Dr. Shashwat Bajpai, who eloquently steered the panel discussion in an engaging and interactive manner The Indian Dispute Resolution Centre (IDRC) is a not-for-profit institutional arbitration centre registered with NITI Aayog and empanelled with the Ministry of Law and Justice. Headquartered in New Delhi, IDRC offers state-of-the-art facilities for online and offline dispute resolution through arbitration, mediation, and conciliation. Since its inception, IDRC has successfully conducted over 2,000 arbitration proceedings, contributing significantly to the advancement of alternative dispute resolution mechanisms in India. The IDRC's Arbitrate in India Conclave, 2024 was supported by Aditya Birla, Ernst and Young along with LatestLaws.com, Indian Institute of Arbitration, Indian Institute of Mediation, OP Jindal Global University among others. (ADVERTORIAL DISCLAIMER: The above press release has been provided by SMPL. ANI will not be responsible in any way for the content of the same)
Congress MP Ranjeet Ranjan has called for the replacement of Electronic Voting Machines (EVMs) with ballot papers, citing concerns over the legitimacy of election results. Ranjan raised doubts about the EVM's accuracy, suggesting that the results may be influenced and advocating for a ballot paper system like many other countries. Congress President Mallikarjun Kharge also echoed similar sentiments, accusing EVMs of wasting votes from marginalized communities. This comes after the Congress' defeat in the Maharashtra Assembly election. The Supreme Court, however, dismissed a petition seeking th ...Read More >
New Delhi, Dec 4 (PTI) "On the face of it you are a corrupt person. Crores of rupees were recovered from your premises," the Supreme Court on Wednesday told former West Bengal minister Partha Chatterjee, held in an alleged cash-for-job scam in the state. A bench of Justices Surya Kant and Ujjal Bhuyan, which reserved its verdict on the bail plea of Chatterjee, questioned the enforcement directorate (ED) over his continued incarceration saying he cannot be kept inside for an indefinite period. "On the face of it you are a corrupt person. Crores of Rupees were recovered from your premises. Wha ...Read More >
Mumbai (Maharashtra) [India], December 4 (ANI): BJP leader Devendra Fadnavis, Shiv Sena chief Eknath Shinde and NCP chief Ajit Pawar on Wednesday met Governor CP Radhakrishnan to stake claim to form the Mahayuti government. BJP's Central Observers for the state, Union Minister Nirmala Sitharaman and Vijay Rupani were also present at the meet. Also Read | Stock Market Today: Indian Stock Market Ends in Green, All Eyes on RBI's MPC Decision on Repo Rate. Fadnavis is scheduled to take oath as the Chief Minister on December 5 after being unanimously chosen as Leader of Maharashtra BJP Legislati ...Read More >
OCCRP had published news articles against Adani; BJP MP Sambit Patra calls Rahul 'traitor of highest order' After a hiatus of two days, the Winter Session of Parliament plunged into chaos again Thursday, this time due to the ruling BJP targeting Leader of the Opposition Rahul Gandhi and the Congress, accusing them of being part of a plan to "derail" India's economy and "disrupt" its democracy. Senior BJP MP Nishikant Dubey raised the matter in the Lok Sabha, alleging that a "dangerous triangle" ...Read More >
Assam Beef Ban: A political row has erupted over the Assam government's decision to ban the public consumption of beef in the state with the Opposition labelling it "against the right to freedom" while the ruling BJP lauding the state Cabinet's call. Assam Chief Minister Himanta Biswa Sarma had announced on Wednesday that his government has decided to ban the consumption of beef in restaurants, hotels and public places, drawing sharp reactions from the Opposition. Samajwadi Party MP Iqra Hasan ...Read More >
Pointing to the increase in the country's stature in the world forum, he asked how, under these circumstances, the promises made to farmers cannot be fulfilled. "Policy-making is not on right track," he added.. Jagdeep Dhankhar's comments come amid a spike in farmer protests. Vice President Jagdeep Dhankhar took up the farmers' issue and questioned the government on their behalf today, directing most of his queries at the Union agriculture minister. Pointing to the increase in the country's sta ...Read More >
For the second consecutive day on Monday (December 2, 2024), Delhi's air quality showed a slight improvement although it remained in the 'poor' category with an Air Quality Index (AQI) of 273 in the morning. According to the Central Pollution Control Board (CPCB), Delhi's 24-hour average AQI on Sunday stood at 285, an improvement to the 'poor' category and a welcome relief following 32 consecutive days of 'very poor' and 'severe' air quality (AQI over 400). The city's air quality was last recorded in the 'poor' category on October 29 with an AQI of 268, according to the CPCB. Farm fires ris ...Read More >
New Delhi [India], December 5 (ANI): Jitender Singh Shunty, a Social activist and Padma Shri awardee joined Aam Aadmi Party (AAP) in the presence of the Party's National Convener Arvind Kejriwal on Thursday. Jitender Singh Shunty is also the founder of Shaheed Bhagat Singh Sewa Dal (SBS) Foundation. Upon officially joining the party, Kejriwal expressed his admiration for Jitender Singh Shunty's significant contributions to society during the challenging times of the COVID-19 pandemic. He highlighted Shunty's dedication and efforts in supporting those in need and commended his commitment to ...Read More >
The Supreme Court overturned a Madras High Court decision. The high court had refused to dismiss defamation charges against Union minister L Murugan. Murugan faced these charges over statements made in 2020. The Supreme Court accepted Murugan's argument. He said he did not intend to defame the Murasoli Trust. The case is now closed.The Supreme Court on Thursday quashed criminal defamation proceedings against Union minister L Murugan on a complaint filed by the Chennai-based Murasoli Trust for his ...Read More >
Delhi residents breathed easier Thursday as air quality improved to 'moderate' after a month of severe pollution. The AQI dropped to 161, though some areas still experienced 'poor' air quality. Cooler temperatures and mist accompanied the improved air, with the minimum temperature reaching 9 degrees Celsius. The Supreme Court maintained GRAP-IV restrictions, demanding compensation for construction workers from NCR states.Residents in Delhi took a sigh of relief on Thursday as the air quality inde ...Read More >
New Delhi [India], December 6 (ANI): The Lok Sabha as part of the Winter Session of the Parliament has been adjourned until 11:00 am on December 9, as announced by the Speaker on Friday. The proceedings of the lower house were adjourned until 12 pm earlier in the day as disruptions continued for the ninth consecutive day of the winter session, with opposition members raising slogans and creating ruckus over various contentious issues. Also Read | Hashimpura Massacre Case: Supreme Court Grants Bail to 8 Convicts in Infamous 1987 Massacre Case. Lok Sabha Speaker Om Birla made a fervent appeal ...Read More >
The Supreme Court on Monday stayed further recovery of an outstanding tax demand from news portal NewsClick, directing the company's banker not to release any more money to the tax department based on a 2023 notice, and allowing the portal to use its two bank accounts for daily operations. The order was passed by a bench headed by justice BV Nagarathna on an application moved by PPK Newsclick Studio Limited, which alleged that ICICI Bank was not allowing the company to use its accounts despite a top court order to this effect passed on August 9. The tax department had raised the demand again ...Read More >
New Delhi [India], November 26 (ANI): The Supreme Court dismissed a public interest litigation (PIL) petition on Tuesday seeking the reintroduction of the physical paper ballot voting system in elections in India. A bench of Justices Vikram Nath and PB Varale dismissed the plea filed by evangelist KA Paul seeking physical ballot voting in India. During the hearing, the petitioner said that even leaders like Chandrababu Naidu and YS Jagan Mohan Reddy had questioned Electronic Voting Machine (EVM) tampering. To this the bench said what happens is, if you win the elections, EVMs are not tamper ...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 >
The Supreme Court on Monday (December 2, 2024) refused to relax emergency measures under Stage 4 of the Graded Response Action Plan (GRAP) dealing with air pollution in the national capital till it noticed a downward trend in the AQI level. A Bench of Justices Abhay S Oka and Augustine George Masih further sought the presence of the chief secretaries of NCR states to appear through video-conferencing to inform it whether or not any compensation was paid to the construction workers who were without work owing to the restrictions. Delhi air pollution: Air quality in Capital plunges to 'very po ...Read More >
NEW DELHI: The Uttar Pradesh administration has imposed restrictions on the entry of outsiders into violence-hit Sambhal until December 10, with officials urging leader of opposition in Lok Sabha, Rahul Gandhi to reconsider his planned visit on Wednesday. Moradabad divisional commissioner Aunjaneya Kumar Singh said there is a need for calm in the region, and that "any provocation could escalate the situation" in the district. "The situation in Sambhal is normal right now, but tensions persist," Singh said. "The District Magistrate has banned the entry of people from outside until 10 December ...Read More >
New Delhi [India], December 4 (ANI): The Enforcement Directorate (ED) seized cryptocurrency worth Rs 1.36 crore (USDT) from private wallets, along with unexplained cash amounting to Rs 47 lakh, during an investigation into a major money laundering case. The case pertains to cyber fraud involving illegal proceeds of approximately Rs 640 crore, generated through betting, gambling, part-time job scams, and phishing operations. The ED also recovered various incriminating documents linked to the fraud during its crackdown. Also Read | Banking Laws (Amendment) Bill, 2024 Set To Boost Consumer Expe ...Read More >
New Delhi [India], December 4 (ANI): The GSEC in Hyderabad will be the first of its kind in the APAC region after Tokyo and only the fifth globally, with similar facilities in Dublin, Munich, and Malaga, according to a statement. This GSEC is a specialised international cybersecurity hub designed to play a crucial role in developing advanced security and online safety products tailored for the Indian context. The centre will focus on cutting-edge research, AI-driven security solutions, and creating a collaborative platform for leading experts and researchers in cybersecurity. It also aims to ...Read More >
New Delhi: Chaos erupted in political circles after Rajya Sabha Chairman Jagdeep Dhankhar informed the house on Friday that a bundle of cash was found on a seat allotted to senior Congress leader Abhishek Manu Singhvi. "I hereby inform the members that during the routine anti-sabotage check of the chamber after the adjournment of the House yesterday. Apparently, a wad of currency notes was recovered by the security officials from seat number 222 which is presently allotted to Abhishek Manu Singhvi, elected from the state of Telangana..The matter was brought to my notice, and I made sure an in ...Read More >
New Delhi: The Supreme Court on Monday sought a response from the Election Commission (EC) on a PIL challenging its decision to increase the maximum number of voters per polling station from 1,200 to 1,500, saying it is "concerned".A bench comprising Chief Justice of India (CJI) Sanjiv Khanna and Justice Sanjay Kumar asked senior advocate Maninder Singh, appearing for the poll panel, to file a short affidavit explaining the rationale behind the decision. ...Read More >
New Delhi, December 4: In a significant move to enhance customer experience and protect citizens, the Lok Sabha on Wednesday passed the Banking Laws (Amendment) Bill, 2024, which allows bank account holders to have up to four nominees in their accounts. The higher number of nominees aims to reduce unclaimed deposits in banks. Finance Minister Nirmala Sitharaman said that depositors will have the option of successive or simultaneous nomination facility, while locker holders will have only successive nominations. Another sweeping change relates to redefining 'substantial interest' for directors ...Read More >
The Supreme Court on Friday granted bail to eight convicts in the infamous 1987 Hashimpura massacre case of 38 persons by the personnel of the Provincial Armed Constabulary. IMAGE: File photograph of Muslims in Meerut staging a protest demanding justice in the 1987 Hashimpura massacre case. Photograph: PTI Photo/Rediff archives A bench comprising Justices Abhay S Oka and Augustine George Masih took note of the submissions of senior advocate Amit Anand Tiwari, appearing for four convicts, that t ...Read More >
The BJP has accused Rahul Gandhi of collaborating with "anti-India international forces," citing a Mediapart report on OCCRP's funding and Gandhi's meetings with alleged Modi government critics. The party highlighted the timing of reports critical of India coinciding with parliamentary sessions, including those on farmers, Pegasus, Hindenburg, and the BBC documentary.BJP on Thursday accused Lok Sabha's Leader of Opposition Rahul Gandhi of colluding with 'anti-India international forces'. The ruli ...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 >
HONG KONG SAR - Media OutReach Newswire - 2 December 2024 - Long recognised as a land of luxury, Hong Kong has levelled up its luxury hub appeal following the Leaders of Luxury Summit 2024. Organised by Robb Report Hong Kong, the summit brought together luxury industry titans to discuss pivotal topics that "Redefine Luxury Through a Global Lens" at Regent Hong Kong on November 26-28, 2024. According to the latest "2024 Billionaire Census" report from Altrata, the city is currently world's no. 2 with the highest number of billionaires. The city is expected to have 22.4% more ultra-high-net-wor ...Read More >
Mumbai (Maharashtra) [India], December 4 (ANI): Bharatiya Janata Pary (BJP) leader Devendra Fadnavis said on Wednesday that Maharashtra Governor CP Radhakrishnan has invited the Mahayuti alliance to form the next government and the oath taking ceremony will take place tomorrow. Fadnavis said the Mahayuti leaders met the Governor and handed over letters of support. Also Read | Why Is Maharashtra Assembly Winter Session Held in Nagpur? Know History and Reason Behind Nagpur Being State's Winter Capital. Fadnavis along with Shiv Sena chief Eknath Shinde and NCP chief Ajit Pawar on Wednesday met ...Read More >
INDIA bloc MPs, donning black jackets with slogans like "Modi Adani Ek Hai", protested at Parliament demanding a joint probe into the Adani issue. Priyanka Gandhi Vadra accused PM Modi of evading discussion on the "Adani mega scam" while defending Adani's alleged corruption. Rahul Gandhi asserted that Modi won't investigate Adani as it would be like investigating himself.Congress leader Priyanka Gandhi Vadra Thursday said the country's people want the "Adani mega scam" to be discussed in Parliame ...Read More >
Ahead of the fifth day of the Parliament winter session, Congress MP Manickam Tagore filed an adjournment notice in Lok Sabha on Friday (November 29, 2024) to discuss the Gautam Adani indictment in the lower house. Opposition MPs have repeatedly sought to discuss the Adani indictment in the Lok Sabha since the start of the winter session on November 25. Justifying the public adjournment motion in the letter submitted to the Lok Sabha Secretary General, Mr. Tagore wrote that the issue is of "public importance," and "strikes at the core of public trust in India's governance and regulatory fram ...Read More >
New Delhi [India], December 3 (ANI): Congress MP Priyanka Gandhi Vadra on Tuesday expressed her sorrow over the havoc wreaked by Cyclone Fengal in south India including Tamil Nadu and Puducherry. Offering her condolences to those who lost their loved ones, Vadra appealed to the Congress workers to work with the administration in relief work amid the crisis. "Deeply saddened by the devastation caused by Cyclone Fengal in Tamil Nadu and Puducherry. My prayers are with those who have lost loved ones and those facing immense loss and hardship. I appeal to all Congress workers to join hands with ...Read More >
The Huddle was a two-day conclave featuring thought leaders from the world of politics, business, academics, sports and the arts. This conclave saw Sri Lanka's the then leader of Opposition, Mahinda Rajapaksa, politicians Jairam Ramesh, Arif Mohammed Khan, tennis player Sania Mirza, the then Home Minister Rajnath Singh, among other leaders and academics share their ideas. Photo: MURALI KUMAR K A Mixed Legacy: The many facets of Indira Gandhi : Srinath Raghavan, Academic & Author, Jairam Ramesh, Economist & Politician, Shekhar Gupta, Journalist In conversation with Mini Kapoor, Ideas Editor, ...Read More >