India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
NEW DELHI: Even as the India-US relationship comes under strain because of President Donald Trump's trade weaponisation, the Indian govt reposed hope in bilateral ties, with the ministry of external affairs (MEA) saying on Friday that the partnership has weathered several transitions and challenges, and that India is confident the relationship will continue to move forward."This partnership has weathered several transitions and challenges. We remain focused on the substantive agenda that our two countries have committed to and are confident that the relationship will continue to move forward," MEA spokesman Randhir Jaiswal said. At the same time, the govt underlined the significance of the relationship with Russia calling it steady and time-tested.MEA: India and Russia have time-tested tiesTrump announced 25% tariffs on imports from India this week and also threatened to impose a penalty for India's oil and defence procurement from Russia.On crude imports from Russia, govt reiterated India's position that it's guided by what is on offer in the markets, and by the prevailing global circumstances, in securing its energy needs.On defence procurements, MEA spokesperson Randhir Jaiswal said sourcing of India's defence requirements is determined solely by its national security imperatives and strategic assessments.Despite repeated provocations by Trump, India has so far avoided getting into a slanging match with Americans, focusing instead on ongoing negotiations for a bilateral trade deal that it hopes will alleviate some of the President's concerns about US' lopsided trade with India.Asked about Trump tariffs and its implications for the relationship, the official said India and the United States share a comprehensive global strategic partnership anchored in shared interests, democratic values and robust people-to-people ties.On defence cooperation, Jaiswal said India has a strong defence partnership with the US that has been strengthening over the past several years. There is potential for this partnership to grow further under the India-US COMPACT for the 21st century. In Feb this year, Trump and PM Modi launched a new initiative -- the "US-India COMPACT (Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology) for the 21st Century" -- to drive "transformative change" across key pillars of cooperation.Asked about ties with Russia, the official said India's bilateral relationships with various countries stand on their own merit and should not be seen from the prism of a third country. "India and Russia have a steady and time-tested partnership," added the official.
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 >
Bengaluru -- Gold prices rose for a second session on Tuesday as the dollar weakened, with markets evaluating the possible consequences of US President Donald Trump's policies in his second term after his inauguration. Spot gold gained 0.6% to $2,724.74/oz by 2.40am GMT. US gold futures was 0.2% lower at $2,742.50. The dollar was down about 1% after reports suggested any new taxes would be imposed in a "measured" way. A weaker dollar makes gold more attractive to foreign buyers. "There is a sense of relief in risk sentiment to know that tariffs have not been an immediate focus. The unwindin ...Read More >
Mumbai, Feb 10: The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but eventually settled at 87.45, up 5 paise, following RBI intervention. The American currency gained in the overseas market after US President Donald Trump's plans to impose 25 per cent tariffs on steel and aluminum imports, along with reciprocal tariffs targeting countries taxing US exports. The move has added jitters over the global trade war with China's reciprocal duties coming into effect, they said. At the interban ...Read More >
NEW DELHI, June 3 (Reuters) - Prime Minister Narendra Modi's high-profile attendance at a global airlines conference this week underscores how much India is banking on a boom in aviation to support wider development goals, but headwinds to its ambitions are gathering force. Undeterred by the uncertainty gripping the aviation sector globally due to trade tensions and shaky consumer confidence, India's biggest airlines are ploughing ahead with orders for new planes, following record deals two year ...Read More >
General Brice Oligui Nguema, who is interim president, has touted Saturday's vote as a sign of the government's commitment to a democratic transition, tentatively scheduled for summer 2025. Military officers seized power in a coup in August last year. The Gabonese largely welcomed the ouster of President Ali Bongo. His family's poor management of the central African country's oil wealth had led to a stagnant economy and a third of the population living in poverty. The proposed new constitution introduces a two-term limit on the presidency, each lasting seven years. It removes the position of ...Read More >
JAKARTA (Reuters) - Indonesia and Canada on Monday signed a Comprehensive Economic Partnership Agreement (CEPA) that aims to strengthen economic ties between the two G20 members, three years after negotiations began. The agreement will take effect in 2026 and was signed in Jakarta by trade ministers of both countries. Indonesia's trade minister, Budi Santoso, said Indonesia appreciated Canada's support for its plan to prioritise its critical minerals sector, which was vital for its sustainable growth. "Together, we advance sustainable critical mineral management, supporting Indonesia's net ...Read More >
As per Moneycontrol's calculations, a 7 per cent growth in the remaining two quarters will put India's GDP at 6.5 per cent. The Indian economy would find it challenging to achieve over 7 per cent growth for the fourth consecutive year, economists said. They pointed out that the second-quarter (Q2) Gross Domestic Product (GDP) data, which was announced on November 29, has made the task even more daunting for the government. "A sharper than expected growth slowdown in Q2 has tilted risks to our outlook of 6.8 per cent for the current fiscal downwards," said DK Joshi, chief economist, Crisil. ...Read More >
FRANKFURT (Reuters) - Import tariffs expected to be implemented by the administration of U.S. President-elect Donald Trump could lower economic growth and inflation in the 20 nations sharing the euro, European Central Bank board member Piero Cipollone said on Tuesday. Most economists agree that the possible tariffs would impact growth, though views diverge on the effect on consumer prices. Some argue the U.S. trade barriers will push up the value of the dollar, making imports of key commodities more expensive, while likely retaliation from Europe will also raise costs. Cipollone, speaking i ...Read More >
AMRITSAR, India (AP) -- A U.S. military plane carrying 104 deported Indian migrants arrived in a northern Indian city on Wednesday, the first such flight to the country as part of a crackdown ordered by the Trump administration, airport officials said. The Indians who returned home had illegally entered the United States over the years and came from various Indian states. The move came ahead of Indian Prime Minister Narendra Modi's visit to Washington, which is expected next week. U.S. President Donald Trump and Modi discussed immigration in a phone call last week and Trump stressed the impo ...Read More >
New Delhi [India], May 23 (ANI): Criticising the BJP-led NDA government, Leader of the Opposition in Lok Sabha (LoP) Rahul Gandhi on Friday said that India's foreign policy has collapsed. In a post on X, Gandhi raised three questions to the central government. "Will JJ explain, Why India has been hyphenated with Pakistan? Why didn't a single country back us in condemning Pakistan? Who asked Trump to "mediate" between India & Pakistan?" the LoP said. Reposting a video of S Jaishankar's interview with a media outlet, he said, "India's foreign policy has collapsed," he added. Earlier, Gandhi q ...Read More >
Trump warns BRICS nations against replacing US dollar Dec 2 (Reuters) - A gauge of emerging market stocks rose on Monday, driven by positive manufacturing data from China and expectations of continued policy support from Beijing, while India's rupee hit a record low because of weaker-than-expected economic data. As of 0932 GMT, the MSCI's index for emerging market stocks had risen by 0.7%, on track for its biggest percentage gain in over three weeks. China's blue-chip CSI 300 climbed 0.8%, and the Shanghai Composite index jumped 1.1% after a private survey indicated that Chinese factory act ...Read More >
New Delhi, Dec 12 (PTI) Terming the 5.4 per cent GDP growth in the second quarter as a "temporary phenomena", FICCI President Harsha Vardhan Agarwal on Thursday said the industry body expects India to achieve 6.5-7 per cent economic growth in the current financial year, while projecting a pick up in private investment. In an interview to PTI, Agarwal, who is also the Vice Chairman & Managing Director of Emami Ltd, said the RBI needs to manoeuvre a "tight-rope balancing act" between inflation and economic growth, as he opined that the central bank has been doing a prudent job. Notably, the FI ...Read More >
Mumbai: The rupee declined 14 paise and touched the crucial 86.00-mark (provisional) for the first time against the US dollar Friday as it failed to resist pressure from a stronger American currency and huge outflow of foreign funds. Surging crude oil prices overseas and negative sentiment in domestic equity markets also weighed down the Indian currency, forex traders said. Also, dollar strengthened on increased demand amid the anticipation of restrictive trade measures by the new US administration after Donald Trump takes over as president January 20. At the interbank foreign exchange, the ...Read More >
After the banned CPI (Maoist)'s general secretary Nambala Keshava Rao alias Basavaraju was killed in an encounter with security forces on May 22, Union Home Minister Amit Shah reiterated that Naxalism will be eliminated from the country by March 31, 2026. In the Congress-ruled Telangana, however, B Mahesh Kumar Goud, the Telangana Pradesh Congress Committee (TPCC) president, says that the government should not use iron fist to wipe out Maoists but deal with them through "legal and constitutional means". He has urged the Centre to hold "peace talks" with the Maoists and declare a "ceasefire" w ...Read More >
MUMBAI, India -- India's central bank cut interest rates more than expected on Friday. For this, the Reserve Bank of India (RBI) cited muted inflation and a need to kickstart economic growth. This happened as the impact of US tariffs weighed on the country's outlook. The RBI lowered the benchmark repo rate, the level at which it lends to commercial banks. This went down by 50 basis points to 5.5 percent. A majority of analysts had expected a 25-basis-point reduction. The cut was RBI's third in a row. This comes a week after government data showed India's economy expanded at its slowest pace ...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 >
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 >
China and Hong Kong stock markets are experiencing a downturn due to rising concerns over the U.S.-China trade war, particularly regarding proposed tariffs and chip sales restrictions. The CSI300 and Shanghai Composite indexes fell, while Hong Kong's Hang Seng Index dropped 1.32%. Investors are wary of potential new restrictions on semiconductor and AI chip exports to China, further exacerbating market uncertainty. The automotive sector, led by BYD, also suffered from intense price competition among Chinese carmakers. Investor sentiment remains cautious, reflecting fears of escalating trade te ...Read More >
The Chinese yuan was also facing its own challenges from the growing threat of more U.S. tariffs on China, pushing it down to a 13-month trough. Japan's tech-heavy Nikkei jumped 1.6% as of 0200 GMT, and South Korea's KOSPI advanced 1.7%. Taiwanese shares gained 1.1%. Australia's stocks benchmark rose 0.7% and reached a fresh all-time high. However, Chinese stocks were under pressure, with Hong Kong's Hang Seng edging slightly lower and mainland blue chips falling 0.3%. MSCI's broadest index of Asia-Pacific shares added 0.7%. Both S&P 500 and Nasdaq futures were flat after the cash indexes ...Read More >
New Delhi [India] January 22 (ANI): Congress MP Randeep Singh Surjewala on Wednesday urged Prime Minister Narendra Modi to take a stand in defending the rights of Indian immigrants in the United States. Surjewala also highlighted the contributions of over 20,000 Indian immigrants and expressed concerns over the government's silence on the deportation orders under President Donald Trump's administration. Sharing a detailed post on X Surjewala said, "Dear Prime Minister Modi ji, Pls spare a few moments to watch Bishop Mariann Edgar Budde speaking the truth to President of United States of Amer ...Read More >
New Delhi, Feb 4 (PTI) Finance Secretary Tuhin Kanta Pandey on Tuesday said the government has taken measures to lower fiscal deficit and delivered a non-inflationary Budget, and hoped that the RBI's monetary policy will work in tandem with fiscal policy to support growth. He also said that although rupee depreciation increases inflation on imported inputs, it also adds to export competitiveness. Pandey said that the government has bettered its fiscal deficit projections for the current fiscal as well as the next. The fiscal deficit for FY'25 has been pegged lower at 4.8 per cent of GDP, low ...Read More >
New Delhi [India], May 29 (ANI): After a federal court of the United States struck down a reciprocal tariff announced by US President Donald Trump, the Global Trade Research Initiative (GTRI) said that India should proceed cautiously in its ongoing Free Trade Agreement (FTA) negotiations with the US. A Manhattan-based federal court on May 28 struck down Trump's move to impose reciprocal tariffs on the trading partners of the US and ruled that he can't use emergency power to impose tariffs on foreign countries; it has to come from Congress. The order of the court determined that the tariffs, ...Read More >
New Delhi: Rare earth magnets, essential for EV motors, have become the latest flashpoint in India's growing electric mobility ambitions. These magnets power the core of Brushless DC (BLDC) and Permanent Magnet Synchronous Motors (PMSM), which drive most electric vehicles today, particularly two-wheelers. With China tightening export controls, Indian automakers now face serious supply-side disruptions. If the situation continues, industry experts warn that EV prices could rise, production could slow and expansion plans may take a hit. In April this year, China imposed an export curb on rare- ...Read More >
New Delhi [India], June 5 (ANI): Silver prices on Thursday, crossed USD 35 mark per ounce and hit its highest level since March 2012, boosted by a combination of factors such as weaker US dollar, rising geopoltical tension and robust industrial demand. 'With the trust in dollar decreasing silver appears to be a good avenue for money to move to and the Gold Silver ratio was recently above 1.10 so the only way forward was either silver prices rise up or gold prices fall, and thats what has happened silver has risen far more than gold,' said Mrinesh Jain Director, Bombay Bullion Metal Hub LLP. ...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 >
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 >
Trump's pressure on countries to remain tied to a US-dollar-based financial system could backfire, with potential increased motivation for BRICS to create alternatives. While the dollar's dominance persists due to existing economic strengths, recent global currency agreements indicate a cautious shift away from reliance on the greenback.Donald Trump's pressure on countries around the world to stay anchored to a US-dollar-based financial system is a tactic that risks backfiring, market watchers say. Dollar dominance looks set to continue for the foreseeable future and emerging nations' idea of ...Read More >
NEW DELHI, June 5 (Reuters) - Indian and U.S. are holding high-level talks this week, aiming to finalise tariff cuts in sectors such as farm and automobiles as part of an interim deal, two government sources said, with an announcement likely later this month. A U.S. delegation led by senior officials from the Office of the United States Trade Representative (USTR) began closed-door, two-day discussions in New Delhi on Thursday with Indian trade officials headed by chief negotiator Rajesh Agrawal ...Read More >
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 >