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: The Bombay High Court on Tuesday upheld the Maharashtra government's and the Maharashtra Maritime Board's (MMB) decision to construct a new passenger jetty and terminal facilities in the sea near the Gateway of India, stating that "the pursuit of development is not an affront to the environment, when it walks the careful path of sustainability, guarded by regulations and reason". A bench of Chief Justice Alok Aradhe and Justice Sandeep Marne dismissed three writ petitions filed by residents' associations and individuals from the Colaba and Cuffe Parade areas, who had raised environmental and heritage concerns over the proposed jetty, which is to come up near the Radio Club, approximately 280 metres from the Gateway of India. Petitioners contended that the project would "cause excessive and needless harm to the pristine environment" and objected to clearances granted by various authorities including the Maharashtra Coastal Zone Management Authority (MCZMA), the Mumbai Traffic Police, the Heritage Conservation Committee (HCC), and the Municipal Corporation of Greater Mumbai. The bench, however, noted that all statutory clearances were obtained and the project did not suffer from arbitrariness or irrationality. "Traversing the entire expanse of material on record, expert opinions, statutory clearances and upon weighing the scales between the progress and preservation... we uphold the validity of the decision of MMB and the State Government in constructing the project," it said. The project involves building an 80x80 metre terminal platform with parking for 150 vehicles, VIP waiting lounges, ticket counters, and administrative areas. A tennis racquet-shaped jetty, extending 570 metres into the sea and 203 metres wide, with 10 boarding platforms on the outer rim, will be built on stilts. The built-up area in the sea will span 25,116 sq. metres. An open-air amphitheatre is also shown in the plans. Petitioners alleged that a portion of the sea-side wall of the Gateway's promenade would be demolished to create access and that the site's proximity to the Grade-I heritage monument posed a threat to its sanctity. Rejecting these concerns, the court emphasised that MCZMA, a statutory expert body, had applied its mind and granted clearance after considering environmental issues. "In absence of any expertise at our command, we cannot sit as an appellate authority over the decision of an expert body like MCZMA," the bench observed. The bench also noted that after the new jetty becomes operational, the five antiquated jetties currently used at the Gateway of India, serving 30 to 35 lakh passengers annually, would be decommissioned in a phased manner as per Indian Navy directions. Emphasising on the primary use of jetty, the HC held that the "dominant purpose of the project is to provide facilities to the passenger for embarkation and disembarkation. The other facilities like amphitheatre, restaurant, cafe are only ancillary to the project. Therefore, the same have to be used only to make the jetty functional." The bench said it was "conscious of the fact that there is no sewage treatment plant envisaged in the project". Observing that the "functioning of the facilities should not be detrimental to the environment", the court issued several directions to the authorities. It has directed the MMB to ensure that the amphitheatre is used as a sitting area by the passengers waiting to board the jetty and "shall not be used as a place of entertainment in any manner". MMB has been directed to ensure that the proposed restaurant/ cafe "shall be used only to provide water and packed food products to the passengers and shall not be used for providing dining facility". "The MMB shall also ensure that after completion of the project at Gateway of India, the existing jetty shall be discontinued in a phased manner as directed by the Indian Navy," the bench added.
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 >
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 >
Bengaluru: In a setback to Karnataka Chief Minister Siddaramaiah, the Directorate of Enforcement (ED), Bangalore Zonal Office has provisionally attached 142 immovable properties having an approximate market value of Rs 300 crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with the Mysuru Urban Development Authority (MUDA) scam. Chief Minister Siddaramaiah is accused number one in the case and the investigation is also conducted against others who got the illegal allotments done through the MUDA. His wife B.M. Parvathi is the second accused. "The ...Read More >
Mumbai, Jan 27 (PTI) The Bombay High Court on Monday suggested Abhishek Lodha and his brother Abhinandan Lodha to try and amicably resolve the issue over the use of 'Lodha' trademark. The Abhishek Lodha-promoted Macrotech Developers Ltd earlier this month filed a suit in the HC against Abhinandan Lodha's real estate firm, House of Abhinandan Lodha, claiming the name 'Lodha' was their trademark and no one else could use it. The suit sought Rs 5,000 crore as damages from Abhinandan Lodha's company. In an interim application, Macrotech Developers sought a perpetual injunction against the defen ...Read More >
Mumbai: The birth of three penguin chicks at Mumbai's Veermata Jijabai Bhosale Udyan and Zoo has sparked an unexpected row not over their care, but their names. BJP functionary Nitin Bankar from the Byculla Assembly constituency has objected to the chicks being given English names, insisting they be named in Marathi instead. The BMC is expected to respond by June 10, after which Bankar will decide his next move. Speaking to The Free Press Journal, Bankar said, "When penguins were brought from abroad, we accepted that their names would be in English. But these chicks were born on the soil of M ...Read More >
New Delhi: The Enforcement Directorate (ED) on Friday carried out searches at 15 places in Mumbai and Kochi in connection with the Mithi River desilting scam that caused a wrongful loss of more than Rs 65 crore to the Brihanmumbai Municipal Corporation (BMC), official sources said. The massive crackdown is underway at the premises across Mumbai and Kochi linked to the accused and suspects as part of an ongoing probe into alleged financial irregularities. According to the sources, the searches are being carried out under the provisions of the Prevention of Money Laundering Act (PMLA) at locat ...Read More >
New Delhi: The first warship in the anti-submarine warfare shallow water craft series, equipped to conduct subsurface surveillance, search and rescue missions, and low-intensity maritime operations, is set to be inducted into the Indian Navy on June 18, officials said on Friday. The commissioning ceremony of 'Arnala' at Naval Dockyard, Visakhapatnam will be presided over by Chief of Defence Staff Gen Anil Chauhan. "The warship incorporates more than 80 per cent indigenous content and integrates advanced systems from leading Indian defence firms, including Bharat Electronics Limited (BEL), L& ...Read More >
Mumbai: The death toll in Monday's BEST bus crash rose to seven and the number of injured to 42 even as the driver, Sanjay More, booked for culpable homicide not amounting to murder, claimed he had noticed a spark and mistakenly accelerated the bus instead of applying brakes. Seeking More's custody, police said they want to investigate if he intentionally used the vehicle as a weapon. The bus on Route 332 had accelerated on a congested 200m stretch near Kurla station hitting vehicles and pedestr ...Read More >
Mumbai: The Bombay High Court has raised concern over terminally ill prisoners languishing in Maharashtra's jails and asked the state govt to consider proper implementation of an advisory on grant of medical bail or to place them in house arrest. A division bench of Justices Revati Mohite Dere and Prithviraj Chavan on Monday said they visited the Yerwada central prison in Pune on Sunday and met with prisoners, particularly women inmates, and inspected the condition there. The bench referred to a ...Read More >
Kanpur, January 27: Due to the massive influx of devotees for the Maha Kumbh Mela 2025, Varanasi's District Magistrate in Uttar Pradesh has announced that all schools in the district will be closed from Monday, January 27, 2025, to Wednesday, February 5, 2025. The decision is aimed at ensuring the safety of students and managing traffic congestion caused by the large number of pilgrims arriving in Varanasi for the Maha Kumbh Mela 2025. Despite the school closures, online classes will continue as usual to maintain the academic schedule, News18 reported. This directive applies to all CBSE, ICSE ...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 >
Mumbai, Dec 12 (SocialNews.XYZ) The Bombay High Court on Thursday pointedly asked the Maharashtra government if there was any restriction on celebrating the birth anniversary of Tipu Sultan of Mysuru in Karnataka. The query came during a hearing of a plea filed All India Majlis-E-Ittehadul Muslimeen (AIMIM) Pune President Faiyaz Shaikh who was refused permission to carry out a procession to commemorate the birth anniversaries of Tipu Sultan, and Bharat Ratna Maulana Abul Kalam Azad last month along with the Constitution Day celebrations, at Baramati in Pune district. However, the Pune Rural ...Read More >
Shimla, June 5 (PTI) Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu on Thursday announced that six lakh stainless steel water bottles would be distributed among school students across the state as an initiative against plastic use. Presiding over the state-level World Environment Day function here, he said that the state government's top priority is environmental protection and concrete measures are being taken to control plastic pollution. Sukhu said that regulations related to plastic use have been made quite stringent and consistent efforts are being made to increase public awaren ...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 >
Srinagar: Before towering cranes and cutting-edge engineering transformed the Himalayan landscape, the monumental dream of connecting "Kashmir to Kanyakumari" by rail began with the plodding footsteps of humble mules. This extraordinary backstory underpins the official realization of the Udhampur-Srinagar-Baramulla Rail Link (USBRL), inaugurated by Prime Minister Narendra Modi on June 6, 2025, a project crowned by the awe-inspiring Chenab Bridge. According to Afcons Infrastructure Limited, the company behind the Chenab Bridge, the earliest and most formidable hurdle wasn't just the design of ...Read More >
New Delhi, Dec 26 (VOICE) India in 2024 saw a boom in employment rates, with women and youth leading the charge in workforce participation, according to a report.The report by Apna.co, a job and professional networking platform, showed women contributed an impressive 2.8 crore job applications -- 20 per cent higher than in 2023. Similarly, the youth posted a 27 per cent year-on-year increase in job applications. Women contributed an impressive 2.8 crore job applications out of a total of 7 crore, a 25 per cent year-on-year surge, in 2024. Flexible work opportunities, gender-focused initiativ ...Read More >
Mumbai: Recycling of packaging material into something useful and lasting for the community is an initiative that represents the kind of sustainable thinking Mumbai needs, said Jeetendra V Pardeshi, Superintendent of Gardens, BMC. "Such partnerships can bring sustainability into public spaces, and the public can actively participate in this transformation," Pardeshi said on Thursday, about a set of garden benches, made entirely from recycled Tetra Pak cartons, that were donated to Patwardhan Park in Bandra. The inauguration of the benches marked the start of a campaign to collect used bevera ...Read More >
Bengaluru, Jun 6 (PTI) The Karnataka State Cricket Association had sought permission for RCB's IPL trophy celebrations at Vidhan Soudha, a letter sent by it to the state government has revealed, reaffirming KSCA's assertion that it facilitated approvals for the franchise which is under fire following 11 deaths in a stampede outside the Chinnaswamy Stadium. After an FIR was lodged against them, KSCA president Raghuram Bhat, secretary A Shankar and treasurer E S Jayaram submitted in the Karnataka High Court that the gate management and crowd management were not the responsibility of the associa ...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 >
Mumbai: The Brihanmumbai Municipal Corporation (BMC), considered the richest civic body in the country, tabled its budget of Rs 74,427 crore for 2025-26 at its headquarters in Mumbai on Tuesday. The additional municipal commissioners presented the budget to BMC commissioner Bhushan Gagrani, the state-appointed administrator. BMC is currently run by an administrator since the term of the corporators ended on March 7, 2022. This is the third year of the budget being presented to the administrator, in deviation from the norm where the municipal commissioner presents the budget to the standing co ...Read More >
The Karnataka State Cricket Association (KSCA) has denied responsibility for the stampede that took place outside Bengaluru's M Chinnaswamy Stadium during the Royal Challengers Bengaluru (RCB) victory celebrations. The incident led to the deaths of 11 people. In a statement, KSCA claimed it was not involved in organising the event, managing entry gates or handling the crowd. "The decision to hold the event was taken by the government. It was conducted at Vidhana Soudha, not at Chinnaswamy Stadium," the association said, adding that its role is limited to renting out the stadium and managing c ...Read More >
Chandigarh (Punjab) [India], June 6 (ANI): Vice President Jagdeep Dhankhar on Friday expressed concern over the recent cash controversy involving former Delhi High Court judge Justice Yashwant Varma. A substantial amount of unaccounted cash was discovered at Justice Varma's residence after a fire broke out in mid-March. The incident has sparked widespread debate and scrutiny. He questioned the absence of an investigation into the issue and why no FIR was registered for the same. The Vice President said, 'A painful incident happened in mid-March in Delhi at the residence of a sitting judge. ...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 >
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 >
Bengaluru: The Karnataka government on Thursday took strong action against the police officers allegedly responsible for the Bengaluru stampede, suspending several high-ranking officials, including the city's police commissioner. Addressing a press conference, Chief Minister Siddaramaiah also announced a one-man commission to probe the lapses that triggered the deadly stampede. "Cubbon Park Police Station police inspector, station house master, station house officer, ACP, Central Division DCP, cricket stadium in-charge, additional commissioner of police, commissioner of police have been susp ...Read More >
New Delhi, June 6 (UNI) The Supreme Court on Friday declined to grant an urgent hearing to a petition challenging a Bombay High Court order that permitted animal sacrifice near a Dargah located within Vishalgad Fort in Maharashtra's Kolhapur district during the Bakr-Eid celebrations on June 7. The plea, mentioned before a vacation bench comprising justices Sanjay Karol and Satish Chandra Sharma, sought immediate intervention against the June 3 High Court order allowing the ritual sacrifice at the historically protected site. The petitioner's counsel argued that Vishalgad Fort is a notified p ...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. Also Read | VPL 2025 Points Table Updated With Net Run Rate: Bharat Rangers At Top Spot, Pagariya Strikers Ra ...Read More >
A 55-year-old man, who was among the several persons injured in the BEST bus accident in Kurla area here, died on Monday morning, taking the death toll to eight, a civic official said. The electric bus, hired by the civic-run Brihanmumbai Electric Supply and Transport (BEST) undertaking on wet-lease basis, ploughed into a crowd and fatally knocked down seven persons and injured 42 others on a crowded road in Kurla area on December 9. Several vehicles were also damaged in the incident. One of t ...Read More >
New Delhi: The GST Council will soon decide on having fewer and lower rates as the review work is almost complete, Finance Minister Nirmala Sitharaman said on Tuesday. Currently, Goods and Services Tax (GST) is a four-tier tax structure with slabs at 5, 12, 18 and 28 per cent. Luxury and demerit goods are taxed at the highest bracket of 28 per cent, while packed food and essential items are in the lowest 5 per cent slab. The Council, chaired by Sitharaman and comprising her state counterparts, has set up a group of ministers (GoM) to suggest changes in GST rates as well as reduce slabs. "To ...Read More >
Bhubaneswar: Chief minister Mohan Charan Majhi on Thursday announced an ambitious plan of planting 7.5 crore saplings across the state within a year. Speaking at the state-level celebration of World Environment Day at the OUAT Agriculture Education Hall in city, the CM emphasised the importance of public awareness and collective responsibility in protecting nature and ending plastic pollution. "A healthy environment is essential for a healthy society," he said.Addressing the rising threat of single-use plastic, the CM urged citizens to support a mass movement to eliminate plastic from daily li ...Read More >