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.
Mumbai, Jul 15 (PTI) Global EV giant Tesla on Tuesday made its much-awaited entry into India, launching its Model Y with price starting at Rs 59.89 lakh while opening its first experience centre here. Tesla, led by American tech billionaire Elon Musk who had in the past cited India's high import tariffs for the company not entering the country earlier, will be importing the Model Y as a completely built unit (CBU), from its Shanghai manufacturing facility in China. The mid-sized electric SUV Model Y, which was once the world's best-selling car, will be offered in India in two variants -- rear-wheel drive with base price at Rs 59.89 lakh and long-range rear wheel drive at a base price of Rs 67.89 lakh. The deliveries are slated to start in the third and fourth quarter of 2025, respectively, for the two variants. Initially, registration and delivery will start in Delhi, Mumbai, and Gurugram, the company said, adding that through its Tesla Design Studio, customers will be able to customise their Model Y exterior, interior, and even its features. The rear-wheel drive variant has a range of 500 km while that of the long-range rear wheel drive is 622 km on a single charge. The Model Y will compete with a range of electric luxury cars from German automakers such as Mercedes-Benz, BMW, and Audi. Electric vehicles from Indian manufacturers Tata Motors and Mahindra & Mahindra are priced below Rs 30 lakh. In the US, the Model Y long-range rear-wheel drive variant is available at USD 37,490 on cash payment. Tesla's first experience centre in India at the Maker Maxity Commercial Complex, in Bandra Kurla Complex here was inaugurated by Maharashtra Chief Minister Devendra Fadnavis. Tesla chief for APAC region Isabel Fan at the launch event said Tesla has redefined transportation and the company's goal is to set a great ecosystem to share technology. Mumbai Experience Centre is meant for engaging customers, she said, adding that plans are to set up four charging stations each in Mumbai and Delhi. Tesla said it is "committed and excited" to help drive a zero-emission and greener future in India. "As part of Tesla's commitments in India, the company will continue to develop the experience center, service and support, and charging infrastructure in the country, aimed at delivering a seamless Tesla ownership experience," the company said. Tesla's drive into India through the import route comes amid the government wooing EV makers to set up manufacturing plant in the country. Last month the government had notified guidelines under the Scheme to Promote Manufacturing of Electric Passenger Cars in India, allowing import of up to 8,000 electric four-wheeler units annually at a lower import duty of 15 per cent, against 70-100 per cent currently, provided they commit an investment of Rs 4,150 crore for setting up local manufacturing facilities. The scheme was first announced on March 15 last year. US President Donald Trump has said if Tesla were to build a factory in India to circumvent that country's tariffs, it would be "unfair" to the US. Tesla CEO billionaire Elon Musk had said in April last year that his visit to India had been delayed due to the company's heavy obligations. He had said in 2022 that Tesla, which was earlier seeking reduction in import duties to sell its vehicles in India, would not manufacture its products unless it is allowed to first sell and service its cars in the country. The electric car maker was seeking an initial tariff concession that would allow it to offset 70 per cent of customs duty for cars priced less than USD 40,000, and 100 per cent for cars of higher value. However, earlier this year, Commerce and Industry Minister Piyush Goyal stated that India will not tailor its policies to suit Tesla, and its laws and tariff rules will be formulated to attract all-electric vehicle manufacturers from across the globe to set up a base in the world's fastest-growing economy. Speaking at the launch event, Fadnavis said the Maharashtra government wants to see Tesla establish its research and development and manufacturing facilities in India, and invited the global EV major to consider the state as a partner in its journey. "We wish to see research and development and manufacturing being done in India. I am sure Tesla will think about it at an appropriate stage," Fadnavis said. "Consider Maharashtra as a partner in your journey," he said. Last month, Tesla India took on lease 24,565 sq ft warehousing space in Lodha Logistics Park in Mumbai for five years. In June, Union Heavy Industries Minister H D Kumaraswamy said the electric carmaker is not interested in manufacturing cars in India but keen on establishing showrooms in the country. Tesla has made its India debut at a time when it is facing reduced sales in Europe and China. Last week, Tesla India Motors and Energy Pvt Ltd -- the Indian subsidiary of the company -- had received a trade certificate from the Regional Transport Office (RTO) in Andheri. Such a certificate allows the company to showcase its vehicles, conduct test drives, and begin sales. Trade certificates are a necessary requirement under the Central Motor Vehicles Rules for vehicle dealers or manufacturers looking to operate unregistered vehicles for trials or promotional activities. PTI ND PSJ IAS RKL TRB
IMPHAL, Nov 17: The NPP on Sunday withdrew support from the BJP-led Government in Manipur, even as violence continued to rock the state as offices of the Congress and the saffron party were ransacked in the hill district of Jiribam where an unidentified body was found earlier in the day, officials said. Follow the Daily Excelsior channel on WhatsApp A BJP MLA's ancestral house was vandalised in Imphal Valley while a building owned by Ashab Uddin, the Independent legislator of Jiribam, was ransacked, officials said. The incidents occurred a day after irate mobs set fire to the residences 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 >
Small-cap Stock: Krystal Integrated Services Limited (Krystal) share price rose 5 per cent to ₹779.3 on Tuesday, November 26 after the company announced receiving a ₹106.3 crore contract from the Brihanmumbai Municipal Corporation (BMC). The contract, valued at ₹1,062.99 million ( ₹106.3 crore), covers three years and involves providing comprehensive attendant manpower services to BMC's Education and Security Departments. This initiative is aimed at improving public sector operational efficiency in Mumbai. Small-cap stock Krystal Integrated Services share was trading in the green, up 3.07 pe ...Read More >
U.S. President-elect Donald Trump said on Monday that on his first day in office he would impose a 25% tariff on all products from Mexico and Canada, and an additional 10% tariff on goods from China, citing concerns over illegal immigration and the trade of illicit drugs. "On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders," Trump said in a post on Truth Social. Trump said the tariffs would remain in place until the two countries ...Read More >
While Trent Boult was signed for Rs 12.50 crore, the Mumbai-based franchise spent an amount of Rs 9.25 crore to land Deepak Chahar. Mumbai Indians' have assembled a lethal pace attack at the two-day IPL 2025 auction held in Jeddah (Saudi Arabia). The five-time IPL champions had already retained their star pacer Jasprit Bumrah ahead of the auction. At the mega auction, MI decided to acquire the services of two other quality fast bowlers - Trent Boult and Deepak Chahar. While Boult was signed for Rs 12.50 crore, the Mumbai-based franchise spent Rs 9.25 crore to land Chahar. Reacting to the po ...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 >
Parth Jindal penned an emotional farewell note for Rishabh Pant who played nine years for the Delhi Capitals. After nine years with the Delhi franchise, Rishabh Pant will play for the Lucknow Super Giants in the upcoming IPL season. Delhi Capitals' co-owner Parth Jindal on Tuesday (November 26) lamented Rishabh Pant's departure from the franchise and hoped to reunite in the foreseeable future. Capitals had released their captain Pant ahead of the IPL mega auction where he drew a record bid of Rs 27 crore from LSG. DC even tried to get their captain back on day one of the auction but could no ...Read More >
The BE 6e, just as its name sounds, stands out as a futuristic, power-packed, and sporty electric Mahindra SUV on Indian roads. The highly anticipated Mahindra BE 6e, an all-electric compact SUV, has been finally launched at an introductory price of Rs 18.9 lakh (ex-showroom). Globally revealed alongside its sibling, the XEV 9e, this born-electric offering from Mahindra seems to be good enough (on-paper) to position itself as India's answer to luxury compact SUVs from global brands. With its futuristic design, a wealth of modern features, and an impressive power output - the highest in its fa ...Read More >
ess than 24 hours after he asserted in Nigeria's Abuja that stepping out of the comfort zone, innovating and creating new paths has now become the very essence of today's India, Prime Minister Narendra Modi on Monday told the gathering of world's most influential leaders converged in Rio de Janeiro for the G20 Summit that the main reason for India's success lies in his government's 'back to basics' and 'march to the future' approach. Addressing the G20 session on 'Social Inclusion and the Fight Against Hunger and Poverty' at the bayside museum of modern art during the two-day 19th G20 Summit, ...Read More >
New Delhi [India], November 18 (ANI): Bharatiya Janata Party leader and in-charge of the party's National IT Department, Amit Malviya, on Monday, criticised the Congress party's 'hypocrisy' over their stance on the Adani Group, pointing to past investments and agreements made with the corporate conglomerate by Congress-ruled states. Taking to social media platform X, Malviya referenced Telangana Chief Minister Revanth Reddy's recent "public admission of accepting money" from the Adani Group on November 10, 2024, pointing out that this acknowledgment contradicted Congress leader Rahul Gandhi's ...Read More >
Mumbai, November 26: The final allotment for the NTPC Green Energy IPO has been confirmed, and investors can now check their status through bank debit messages or online platforms such as the BSE, NSE, and Kfin Technologies. The shares of NTPC Green Energy, which opened for subscription on November 19 and closed on November 22, are set to be listed on the stock exchanges on Wednesday, November 27, 2024. The public offering received strong investor interest, with the issue oversubscribed by 2.42 times, according to the National Stock Exchange (NSE). Analysts maintain a positive long-term outlo ...Read More >
Vaibhav Suryavanshi, a 13-year-old cricket prodigy, becomes the youngest player signed for IPL, bought by Rajasthan Royals for Rs 1.10 crore. His achievement has sparked pride in his hometown, with family replaying a vital role in his journey. Vaibhav marks a new era for young talent in cricket. In a groundbreaking moment for Indian cricket, 13-year-old Vaibhav Suryavanshi has made history by becoming the youngest player ever signed by the Indian Premier League (IPL). Acquired by the Rajasthan Royals for a staggering Rs 1.10 crore during the IPL 2025 auction, Vaibhav's remarkable achievement ...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 >
Bigg Boss 18: Shilpa Shirodkar is termed 'biggest backstabber' after Vivian Dsena... Deepak Kalal fights with passenger in flight? Know the truth behind viral video Delhi court fixes Nov 28 for hearing former CM Arvind Kejriwal's plea over sanction copy in... Where will the Champions Trophy 2025 be played? ICC to take final call on THIS date Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan recalls telling Amitabh Bachchan he made 'big mistake' by... Deepinder Goyal's Zomato opens Rs 8500 crore QIP share sale, sets floor price at Rs... Delhi Capitals co-owner pens emotional fare ...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 >
Severe air pollution in northern India has led to a surge in demand for respiratory medications, with Foracort becoming India’s top-selling drug in October. The inhaler, used to treat asthma and COPD, recorded Rs 75 crore in sales, surpassing popular medicines like Augmentin and Glycomet-GP. Manufactured by Cipla, Foracort combines budesonide and formoterol for effective dual-action therapy. Other respiratory drugs, Duolin and Budecort, also saw increased sales. With Delhi’s Air Quality Index reaching hazardous levels, the rise in respiratory issues underscores the urgent need for better healt ...Read More >
Infosys has announced an average 85% performance bonus for eligible employees in Q2 FY25, reflecting its strong financial performance. The bonus, paid to mid- and junior-level staff, will be credited with the November salaries, with individual payouts varying based on performance. This follows Infosys' impressive 4.7% rise in Q2 net profit and a revenue increase of 5.1%, leading to an upward revision of its FY25 revenue guidance. The bonus payout surpasses the previous quarter's 80%, with Infosys outpacing rivals like TCS. Employees are also awaiting salary hikes, with revisions expected from ...Read More >
The U.S. dollar continued its strong run on Monday, bolstered by soaring Treasury yields and expectations of limited Federal Reserve rate cuts. Meanwhile, the yen steadied ahead of a key speech by Bank of Japan Governor Kazuo Ueda, where he may hint at a possible rate hike in December, with markets pricing a 55% chance of such a move. Japanese Finance Minister Katsunobu Kato's warning on yen intervention caused a temporary pullback, while the dollar index touched a one-year high of 107.07. Analysts forecast further dollar gains as U.S. economic policies and performance outshine global peers. K ...Read More >
SynopsisOn the technical charts, the RSI of the stock stood at 49.49.Shares of Bajaj Holdings & Investment Ltd. traded 1.41 per cent at Rs 10447.00 at 01:30PM (IST) on Tuesday, even as BSE benchmark Sensex 227.01 points to 79882.84. The stock had closed at Rs 10596.80 in the previous session. The stock quoted a 52-week high price of Rs 11348.50 and 52-week low of Rs 7212.00, respectively. As per BSE data, total traded volume on the counter till 01:30PM (IST) stood at 638 shares with a turnover of Rs 0.68 crore. At the prevailing price, shares of the company traded at 15.71 times its trailing ...Read More >
Euro zone government bond yields increased slightly as investors await upcoming inflation data that may influence the European Central Bank's policy direction. Concerns over potential tariff hikes from the U.S. could further impact ECB strategies. Germany's bond yields and political tensions in France also add to the economic uncertainties. On Tuesday, euro zone government bond yields saw a minor increase after hitting multi-week lows in the previous session. Investors are keenly awaiting inflation data later this week that could provide insight into the European Central Bank's potential poli ...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 >
Beijing: China has expressed its willingness to engage in dialogue with the United States following recent threats by former President Donald Trump to impose new tariffs on Chinese goods. The statement comes amid growing tensions between the two economic giants over trade practices, technology policies, and geopolitical issues. Chinese Foreign Ministry spokesperson, Wang Wenbin, said that China was open to "constructive dialogue" with the U.S., emphasizing the importance of cooperation to ensure global economic stability. "China believes that both countries should seek common ground and manag ...Read More >
During Tuesday's trading session, the shares of a global leader in glass-lined equipment surged nearly 3 percent to Rs. 1,247.5 on BSE, after a foreign portfolio investor (FPI) bought shares worth a total of around Rs. 167.4 crores in the company via a bulk deal. With a market capitalisation of Rs. 5,524 crores, at 02:19 p.m., the shares of GMM Pfaudler Limited were trading in the green at Rs. 1,228.7, up by nearly 1.4 percent, as compared to its previous closing price of Rs. 1,211.3. As per the latest block deal available with the NSE, foreign portfolio investor Amansa Holdings Private Limi ...Read More >
TOI correspondent from Washington: In a warning shot that echoed across major world capitals and business majors on Tuesday, US President-elect Donald Trump said he will issue executive orders on day one of his presidency imposing new tariffs on all imported goods from China, Mexico and Canada, Washington's three largest trading partners, to stop the "invasion" of illegal migrants and drugs into the United States. In a post on his Truth Social platform, Trump put the onus of containing illegal border crossings squarely on two immediate neighbors on its southern and northern borders, saying "b ...Read More >
CHENNAI: Singles, Doubles, and the Team Championship - the 18-year-old Chennai girl, the daughter of an auto driver from Kasimedu, left nothing for competitors from around the world at the sixth edition of the Carrom World Cup held in the US which Team India swept. The Women's Singles final was a hard-fought contest, where the 18-year-old M Khazima kept her nerves to defeat 12-time national and multiple World Cup winner Rashmi Kumari from Bihar. With this victory, Khazima became the youngest Carrom World Champion. Khazima, whose father Mehaboob Basha is an auto driver from Kasimedu, had been ...Read More >
HYDERABAD, India, Nov. 26, 2024 /PRNewswire/ -- IBSAT 2024, the proctored online aptitude test conducted by The ICFAI Foundation for Higher Education, is MBA aspirants' gateway to premier MBA, PGPM offered at nine ICFAI Business School (IBS) campuses. With applications closing in the third week of December, this is the perfect time for the candidates to secure their future with IBS and explore its Rs. 10 crore scholarship program. IBSAT is designed to reduce the stress on aspirants unlike CAT, XAT as the test does not have negative markings or sectional time limits, allowing candidates to foc ...Read More >
Delhi Capitals made a strong impression at the IPL 2025 Mega Auction, assembling a well-balanced squad for the upcoming season. Key signings included former South Africa captain Faf du Plessis (Rs 2 crore), India pacer Mukesh Kumar (Rs 8 crore - RTM), and Sri Lankan bowler Dushmantha Chameera (Rs 75 lakh). The team also secured uncapped talents like Donovan Ferreira and Ajay Mandal. Co-owner Parth Jindal hailed the squad as “balanced,” while head coach Hemang Badani expressed confidence in their Indian core. Delhi Capitals’ full squad now includes big names like KL Rahul, Mitchell Starc, and T ...Read More >
The IPL 2025 mega auction, held on November 24-25 in Jeddah, saw a record-breaking total of Rs 639.15 crore spent by 10 teams on acquiring 182 players. Among the 577 players up for grabs, 13 Australians were sold, with pacer Josh Hazlewood fetching the highest bid at Rs. 12.50 crore from Royal Challengers Bangalore. Other notable signings included Mitchell Starc (Rs. 11.75 crore, Delhi Capitals), Marcus Stoinis (Rs. 11 crore, Punjab Kings), and Mitchell Marsh (Rs. 3.4 crore, Lucknow Super Giants). Punjab Kings made a significant splash, purchasing five Australian players, including Glenn Maxwe ...Read More >