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: A three-storey chawl in Mumbai's Bandra East collapsed early Friday morning, leaving at least 10 people feared trapped under the debris, civic officials confirmed. The incident occurred around 5:56 am in the Bharat Nagar area near the Namaj Committee Masjid, close to the Bandra-Kurla Complex (BKC). The structure, identified as Chawl No. 37, was a ground-plus-three-storey residential building, PTI reported. The collapse triggered an immediate response from multiple agencies. A large-scale rescue operation is currently underway, with eight fire engines, rescue vans and ambulances deployed to the site. Visuals of the locality have surfaced on the internet showing authorities engaged in relief operations. 7 Rescued From Rubble So Far Seven individuals have so far been rescued from the rubble and admitted to the civic-run Bhabha Hospital in Bandra. Their condition is being closely monitored, authorities confirmed. Massive Rescue Operation Launched By Several Agencies Teams from the Mumbai Fire Brigade (MFB), Mumbai Police, Brihanmumbai Municipal Corporation (BMC), Maharashtra Housing and Area Development Authority (MHADA), Public Works Department (PWD), and even emergency personnel from private conglomerate Adani have joined hands in the rescue efforts. Local building staff are also assisting in the search-and-rescue operation. A senior fire official stated, "Search and rescue operations are still ongoing. Further details are awaited as teams continue to comb through the debris," as quoted by the Times of India. No Info On Cause Behind Structural Collapse The cause of the collapse has yet to be officially determined. However, incidents of structural failure are not uncommon in Mumbai during the monsoon season, particularly among ageing buildings that suffer from poor maintenance and weather-related stress.
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 >
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 >
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 >
Mumbai, Jun 6 (PTI) The Enforcement Directorate on Friday conducted searches at the premises of actor Dino Morea and some others in Maharashtra apart from some locations in Kerala as part of a money laundering investigation linked to the Mithi river desilting "scam", official sources said. The fraud is alleged to have caused a Rs 65 crore loss to the Brihanmumbai Municipal Corporation (BMC). The raids are covering more than 15 premises located in Mumbai and Kochi. This includes the premises of Morea, his brother, contractors and some others, the sources said. The investigation is being cond ...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 >
The financial repercussions of Parliament disruptions are considerable, impacting both public resources and the productivity of the nation's legislative process. However, both the Lok Sabha and Rajya Sabha have cumulatively functioned for merely 2 hours, with daily disruptions and sloganeering resulting in adjournments. The Rajya Sabha faced disruptions today (December 2) as Vice Chairman Jagdeep Dhankhar expressed discontent over sloganeering by Opposition MPs. The protests, which centered around demands for discussions on key issues, forced the Vice Chairman to adjourn the session until 12 ...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 >
Speaking at IIT Bombay's Techfest 2024, Mr Adani, the 27-year old younger son of infrastructure magnate Gautam Adani, said the future of technology is both scary and exciting. India cannot stay out of global technological race, said Jeet Adani. Mumbai: India cannot stay out of global technological race and should build capabilities that will keep it at the top while remaining vigilant against its misuse, said Jeet Adani, Director, Adani Airport Holdings Ltd. Speaking at IIT Bombay's Techfest ...Read More >
New Delhi, Jun 6 (PTI) Former Delhi minister Satyendar Jain was questioned by the Anti-Corruption Branch (ACB) for over five hours on Friday in connection with a graft case related to the construction of classrooms in city government schools under the previous AAP dispensation. Sources said Jain was evasive in his replies and might be called for questioning again. Jain, who was the Public Works Department (PWD) minister in the AAP government, termed the case "politically motivated". According to the sources, Jain was given a written questionnaire with 29 questions. "He tried to put the bla ...Read More >
New Delhi, Dec 4 (PTI) The Congress Wednesday said a "cover-up" is in the making after reports claimed entities connected to the Adani Group have approached the SEBI seeking settlement in a case that alleges violations of public shareholding norms through unfair practices. It asserted the "scam" requires serious punitive action, including arrests and raids by investigative agencies. Congress general secretary in-charge communications Jairam Ramesh said a token settlement would make Indian institutions a laughing stock whose reputation has already been tarnished by the actions of Prime Minist ...Read More >
Mumbai, Jun 6 (PTI) Reserve Bank on Friday retained GDP growth projections for the current fiscal at 6.5 per cent, saying the Indian economy presents a picture of strength, stability and opportunity in the backdrop of global uncertainty. The FY26 growth projections are compared with the 6.5 per cent economic growth recorded in the 2024-25 fiscal year. The Reserve Bank of India (RBI) has projected economic growth at 6.5 per cent for the June quarter and 6.7 per cent for the September quarter. For the December and March quarters of FY26, GDP growth is estimated at 6.6 per cent and 6.3 per cent ...Read More >
French energy giant TotalEnergies has paused new investments in Gautam Adani's conglomerate amidst ongoing U.S. corruption investigations. Adani Green Energy Ltd. clarified that this pause will not affect its operations, as no new funding was under discussion. The Adani group denies all allegations as baseless. French energy giant TotalEnergies has paused new investments in Gautam Adani's conglomerate due to an ongoing U.S. investigation into alleged corruption charges against Adani and two executives. Adani Green Energy Ltd stated that this decision would not impact its operations since no ...Read More >
New Delhi, Dec 3 (PTI) Shares of seven Adani Group firms ended in the green on Tuesday, with Adani Ports surging 6 per cent, emerging as the biggest gainer among the Sensex and Nifty firms. The stock of Adani Ports surged 6.02 per cent, Ambuja Cements soared 5.15 per cent, ACC (2.56 per cent), Adani Enterprises (2.33 per cent), Sanghi Industries (2.09 per cent), Adani Wilmar (1.19 per cent) and NDTV (0.45 per cent) on the BSE. Also Read | What Is 'Tankhah', Religious Punishment Given to Sukhbir Singh Badal by Akal Takht in 2015 Sacrilege Case?. However, shares of Adani Green Energy went low ...Read More >
Mumbai, February 7: Jeet Adani, the younger son of industrial magnate Gautam Adani, is marrying Diva Shah today, February 7, in a private and traditional ceremony. The couple, who has been engaged for a while, drew attention to their wedding when Gautam Adani confirmed the Jeet Adani-Diva Shah wedding date during his visit to Maha Kumbh 2025. Though rumours circulated about a performance by global music star Taylor Swift at Jeet Adani-Diva Shah wedding, Gautam Adani dismissed the speculation, emphasising that the wedding would be modest and traditional. "We live like ordinary people, and the ...Read More >
Mumbai, Jun 6 (PTI) The Enforcement Directorate on Friday conducted searches in Maharashtra and Kerala as part of a money laundering investigation linked to the Mithi river desilting "scam" that is alleged to have caused a Rs 65 crore loss to the BMC, official sources said. The raids are covering more than 15 premises located in Mumbai and Kochi. The investigation is being conducted under the Prevention of Money Laundering Act (PMLA), the sources said. The ED case against certain officials of the Brihanmumbai Municipal Corporation (BMC) and some others stems from a Mumbai Police economic off ...Read More >
NEW DELHI: Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to ...Read More >
Mumbai BEST accident: Amid ongoing investigations into the Kurla accident case, the Mumbai police on Tuesday, sought custody of the driver of the electric bus - operated by the civic-run Brihanmumbai Electric Supply and Transport (BEST), which led to the death of seven persons, and injured 42 others on December 10. Reportedly, the Mumbai police suspect that the driver, Sanjay More, might have 'deliberately' attacked the people, using the bus as a 'weapon'. A magistrate court has now ruled that More would be under the custody of Mumbai Police until December 21. The Mumbai Police presented San ...Read More >
Mumbai, Dec 18 (PTI) Jobs and talent platform and a Quess company, foundit, on Wednesday announced the appointment of V Suresh as its Chief Executive Officer. With over two decades of experience in the internet domain, digital transformation, and the e-recruitment ecosystem, Suresh brings a wealth of strategic expertise and a forward-looking vision to foundit (formerly Monster APAC and ME), the company said in a statement. "Suresh's deep understanding of the digital talent ecosystem and proven ability to scale businesses will help us strengthen our leadership position in the market. Under hi ...Read More >
New Delhi, Nov 28 (PTI) Coworking firm Incuspaze, which provides managed flexible office spaces to corporates, is looking to raise USD 25 million (over ₹210 crore) to expand its business across major cities before planning to launch its Initial Public Offer (IPO). Established in 2016, Incuspaze has a presence in 44 locations across 18 cities with a total portfolio of 40 lakh square feet. "We plan to add another 2 million (20 lakh) square feet in our portfolio by the end of December 2025," Incuspaze founder and CEO Sanjay Choudhary told PTI. In view of the growing demand for flexible workspa ...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 >
New Delhi: India's opposition MPs on Wednesday, December 11, greeted their BJP counterparts in Parliament premises with the tricolour in one hand and a red rose in the other, urging the ruling party to ensure that the Parliament functions properly. This is the latest in a series of demonstrations led by Congress over the issue regarding industry mogul Gautam Adani getting indicted by the US. Leader of Opposition in the Lok Sabha Rahul Gandhi also offered the tricolour in the form of a card to Defence Minister Rajnath Singh when the latter was entering the main Parliament building. Congress ...Read More >
New Delhi, Jun 5 (PTI) Business conglomerate Aditya Birla Group has acquired Cargill's speciality chemical manufacturing facility in Dalton, Georgia. In a statement on Thursday, the group announced the expansion of its US Advanced Materials business with the acquisition of Cargill Incorporated's 17-acre speciality chemical manufacturing facility in Dalton, Georgia. The acquisition continues Aditya Birla's expansion in the US' manufacturing sector, a key aspect of Aditya Birla's growth strategy, which now totals over USD 15 billion in investment. The acquisition was executed through Aditya B ...Read More >
Ahmedabad: The Adani Group's total contribution to the exchequer increased by 29 per cent to Rs 74,945 crore in fiscal year 2025, from Rs 58,104 crore in FY24, through its portfolio of listed entities, it announced on Thursday. Of the total contribution of Rs 74,945 crore, direct contributions stood at Rs 28,720 crore, indirect contributions at Rs 45,407 crore, while other contributions at Rs 818 crore, the company said in a statement. To put it in perspective, Rs 74,945 crore is roughly the cost of building the entire Mumbai Metro network - an infrastructure lifeline for millions of people. ...Read More >
Mumbai, June 6 (UNI) The Enforcement Directorate (ED) conducted raids at Bollywood actor Dino Morea's residence on Friday afternoon in Mumbai. This raid was part of searches at multiple locations across Mumbai in connection with the Mumbai Mithi River scam. ED is probing the alleged financial irregularities and corruption related to the river's cleanup project. According to sources, officials have examined various records and documents related to the financial transactions of the actor. The raid was conducted at his residence -Villa Morea, located in Bandra West in Mumbai. Dino, along wit ...Read More >
New Delhi, Dec 3 (PTI) Shares of seven Adani Group firms ended in the green on Tuesday, with Adani Ports surging 6 per cent, emerging as the biggest gainer among the Sensex and Nifty firms. The stock of Adani Ports surged 6.02 per cent, Ambuja Cements soared 5.15 per cent, ACC (2.56 per cent), Adani Enterprises (2.33 per cent), Sanghi Industries (2.09 per cent), Adani Wilmar (1.19 per cent) and NDTV (0.45 per cent) on the BSE. However, shares of Adani Green Energy went lower by 1.17 per cent, Adani Power dipped 0.87 per cent, Adani Total Gas (0.83 per cent) and Adani Energy Solutions (0.60 p ...Read More >
The agitators demanded strict punishment for those who insulted the statue. Violent protests took place for the second day in central Maharashtra's Parbhani city on Wednesday over alleged vandalising of a replica of the Indian Constitution, police said. Amid the bandh called by some organisations, a mob indulged in arson and police fired teargas shells in response, a senior official told PTI. How did the protest begin? An unidentified person on Tuesday damaged a replica of the Constitution he ...Read More >
Aryan Meena, who lived in the Dausa district of Rajasthan state, was trapped in the narrow well for three days after falling into it while playing on Monday afternoon. The boy, wearing pants and a t-shirt, had to endure plummeting winter temperatures inside the well as well as hunger and thirst. Children and even adult people dying from falling into open borewells is not uncommon in rural India where they are dug to pump water for irrigation and drinking and left abandoned after they run dry. ...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, Jun 5 (PTI) Business conglomerate Aditya Birla Group has acquired Cargill's speciality chemical manufacturing facility in Dalton, Georgia. In a statement on Thursday, the group announced the expansion of its US Advanced Materials business with the acquisition of Cargill Incorporated's 17-acre speciality chemical manufacturing facility in Dalton, Georgia. 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 acquisition continues Aditya Birla's expansion in the US' manufacturing sect ...Read More >
Mumbai, Jun 6 (PTI) The RBI on Friday cut repo rate by a higher-than-expected 50 basis points to prop up growth, which has slowed to a four-year low of 6.5 per cent in FY25. Following the rate cut, the key policy rate eased to a three-year low of 5.5 per cent, providing relief to home, auto and corporate loans borrowers. This is the lowest repo rate in three years. The repo rate -- the rate at which banks borrow funds from the RBI -- had last stood at 5.40 per cent on August 5, 2022. After a detailed assessment of the evolving macroeconomic and financial development, as well as the economi ...Read More >