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.
Kedia Advisory - India's basmati rice exports to the US fell 13% to 78,000 tonnes in April-July 2024 from over 90,000 tonnes a year earlier, with sharper declines expected in August following tariff hikes from 25% to 50% after August 27. Pakistan, facing only 19% duty, stands to benefit. The US is among the highest-value markets for Indian basmati, with realisations near $1,230/tonne. Exporters are exploring China as an alternative market amid improving bilateral ties. Basmati remains a key agri-export, accounting for 30% of India's rice exports. Saudi Arabia, Iraq, and Iran remain top buyers, while US import share faces erosion. Key Highlights: Basmati exports to US dropped 13% in April-July 2024. US tariffs rising from 25% to 50% post-August 27. Pakistan gains advantage with only 19% US import duty. China emerging as alternative market amid better India-China relations. US remains one of the highest-value markets for basmati. India's basmati rice exports to the US have faced a setback, dropping 13% to 78,000 tonnes during April-July 2024 from over 90,000 tonnes in the same period last year. August figures are expected to show a steeper decline as the US administration increases import duties from 25% to 50% after August 27. This shift is set to give Pakistan, which faces only a 19% duty, a competitive edge in the American market. The US has been a lucrative destination for Indian exporters, with realisations averaging $1,230 per tonne -- higher than $1,025 from Saudi Arabia and $881 from Iran. Saudi Arabia remains the largest buyer, importing 1.17 million tonnes worth $1.12 billion, while Iraq and Iran together purchased 1.76 million tonnes worth $1.6 billion in FY 2024-25. With the US market under pressure, exporters are eyeing China as a potential alternative. Imports from China rose to 5,834 tonnes in 2024-25 from 3,293 tonnes a year earlier, supported by improved bilateral ties, resumed air connectivity, and recent trade goodwill gestures. Basmati rice, protected under Geographical Indications (GI) by both India and Pakistan, remains a major agri-export, contributing 30% to India's total rice shipments of 6.07 million tonnes in 2024-25. However, with the higher US duty, some buyers may shift sourcing to Pakistan. In conclusion, rising US tariffs threaten India's high-value basmati exports, pushing exporters to diversify markets, with China offering potential but still far from matching US trade volumes.
Guwahati (Assam) [India], July 1 (ANI): Assam has set a new record in paddy procurement by procuring nearly 7 lakh MT of paddy during the Kharif Marketing Season (KMS) 2024-25. Assam Chief Minister Himanta Biswa Sarma on Tuesday said, 'We are proud to announce the successful conclusion of Kharif Marketing Season (KMS) 2024-25 with a record paddy procurement of 6.97 lakh MT -- the highest ever.' In Kharif Marketing Season (KMS) 2022-23, the state procured 5.92 lakh MT of paddy, and in 2023-24, the state procured 3.14 lakh MT of paddy. 'This remarkable achievement reflects our commitment to e ...Read More >
New Delhi [India], July 8 (ANI): The cost of home-cooked meals eased in June as compared to the same month last year, driven by a sharp correction in vegetable prices, according to the Crisil Intelligence report. In the monthly report titled 'Roti Rice Rate', the average cost of a vegetarian thali (Plate) declined by 8 per cent year-on-year (YoY), while the cost of a non-vegetarian thali was down nearly 6 per cent. The decline in vegetarian thali prices was primarily attributed to a significant drop in key vegetable prices, which had spiked the previous year due to adverse weather and crop d ...Read More >
Dehradun (Uttarakhand) [India], July 14 (ANI): Uttarakhand Chief Minister Pushkar Singh Dhami paid a courtesy call on Prime Minister Narendra Modi in New Delhi and sought guidance on various issues related to the development of Uttarakhand, a release from Uttarakhand CMO said. Expressing gratitude to the Central Government for its cooperation in the development of the state, the Chief Minister said that under the leadership of the Prime Minister, Uttarakhand is ready to play its effective role in the vision of Developed India 2047. The Chief Minister said that all Indians are proud that 27 c ...Read More >
KOZHIKODE: A woman from Palakkad who recently tested positive for Nipah virus, remains in critical condition at the Kozhikode Government Medical College Hospital. She is currently receiving critical care in the hospital's specialised Nipah isolation unit. The patient was initially admitted to a private medical facility in Perinthalmanna. However, late on Saturday night, due to a significant deterioration in her health, she was transferred to the Kozhikode Medical College. Her symptoms, consistent with a severe viral infection, first appeared on July 1, prompting her to seek medical attention. ...Read More >
Agartala, Tripura's Agriculture & Farmer Welfare Minister Ratan Lal Nath on Saturday said the government is contemplating reviving a dormant pineapple juice factory in North Tripura's Nalkata based on a public-private partnership model. The minister announced this while addressing a pineapple festival at Kumarghat in Unakoti district. The North Eastern Regional Agricultural Marketing Corporation Ltd , a central government enterprise, used to operate the food-processing unit till the nineties. ...Read More >
New Delhi: Union Minister for Agriculture and Farmers Welfare Shivraj Singh Chouhan on Thursday met farmers in Punjab and reviewed crops and production. Addressing a gathering, Chouhan said, "Prime Minister Narendra Modi's vision is Viksit Bharat, and we are working tirelessly with that goal in mind. Our mission is to build a glorious, prosperous and powerful India. Agriculture is the backbone of the Indian economy. In the fourth quarter of last financial year, the country achieved a growth rate of 7.5 per cent, with agriculture contributing to 5.4 per cent of it. Agriculture still accounts f ...Read More >
Mumbai, Jun 8 (PTI) Maharashtra Chief Minister Devendra Fadnavis on Sunday said Congress MP Rahul Gandhi, instead of introspecting on the defeat in the 2024 state assembly polls, has been repudiating the mandate given by the people because they rejected him. The leader of opposition in the Lok Sabha is preparing his excuses for future defeats in the upcoming assembly elections, including Bihar, Fadnavis said in his articles published in the Indian Express and Marathi daily Loksatta. On Saturday, Gandhi, in an article published in several newspapers and in posts on X, claimed the 2024 Maharas ...Read More >
New Delhi [India], June 26 (ANI): The Directorate of Revenue Intelligence (DRI) seized 39 containers carrying 1,115 metric tonnes of Pakistani goods valued at approximately Rs 9 crore at the Nhava Sheva Port in Navi Mumbai, officials said. In an operation codenamed "Operation Deep Manifest", the illegal import of Pakistani-origin goods routed through third countries, primarily via Dubai, UAE, has been busted, the Ministry of Finance said in a statement Thursday. Also Read | 'Dreamer and Disciplined': School Teachers Recall Fond Memories of Shubhanshu Shukla As Astronaut Becomes First Indian ...Read More >
New Delhi, Jun 26 (PTI) In a significant enforcement action, the Directorate of Revenue Intelligence (DRI) has seized goods worth Rs 9 crore under 'Operation Deep Manifest', targeting illegal imports of Pakistani-origin goods routed through Dubai. The operation has thus far led to the seizure of 39 containers carrying 1,115 metric tonnes of goods in blatant violation of import policy conditions and prohibitions imposed by the government on direct or indirect import or transit of Pakistani-origin goods, the finance ministry said in a statement on Thursday. One of the partners of an importing ...Read More >
Majuli (Assam) [India], June 28 (ANI): Majuli, the river island district in Assam, has marked a significant milestone as its indigenous organic red bao paddy makes its debut in the global market. In a historic development, the first consignment of this unique variety of rice has been formally exported to countries in Central Asia and Europe, bringing smiles to the faces of Majuli's farming community. Also Read | Long-Awaited Relief for Retired Government Employees? 8th Pay Commission May Reduce Commuted Pension Restoration Period from 15 to 12 Years. The export initiative has been spearhead ...Read More >
Srinagar (Jammu and Kashmir) [India], July 5 (ANI): Union Minister for Agriculture, Farmers' Welfare and Rural Development Shivraj Singh Chouhan attended the sixth convocation ceremony of Sher-e-Kashmir University of Agricultural Sciences and Technology (SKUAST-K), Srinagar, and conferred degrees upon the graduates. On the second day of his visit to Jammu & Kashmir on Friday, Shivraj Singh said, 'I've been in Srinagar since yesterday. The cool breeze, the fragrance of the soil, the natural beauty, and the warmth of the people have truly touched my heart. Jammu & Kashmir is the crown jewel of ...Read More >
New Delhi, Jul 15 (PTI) Two people died and four others were injured after a fire broke out at a house in east Delhi's Old Govindpura area on Tuesday evening, an official said. Police have identified the deceased as Tanveer (28) and Nusrat. A call was received at Jagatpuri police station at 8.46 pm regarding a fire incident at Band Gali, Old Govindpura, Deputy Commissioner of Police (Shahdara) Prashant Gautam said. When a police team reached the spot, it found that 10 people were trapped inside a residential building that caught fire, the DCP said. With the help of police personnel and fir ...Read More >
Agartala (Tripura) [India], July 16 (ANI): In a significant move to enhance the income of pineapple cultivators in Tripura, Agriculture and Farmers Welfare Minister Ratan Lal Nath announced that the state government plans to establish a new fruit processing centre at Nalkata under the Public-Private Partnership (PPP) model. Addressing the Pineapple Festival at Geetanjali Auditorium in Kumarghat, Minister Nath emphasised the government commitment to promoting pineapple cultivation and exports. He revealed that from 2018 to 2025, the state successfully exported 73.15 metric tonnes (MT) of pinea ...Read More >
MUMBAI: India is likely to produce a record 117.5 million tonnes of wheat in the year ending June 2025, the farm ministry said, above its March forecast of 115.4 million tonnes, as higher prices prompted farmers to expand the area planted with high-yielding seed varieties. India, the world's biggest wheat producer after China, produced 113.3 million tonnes of wheat in 2024, the farm ministry said in a statement issued late on Wednesday. However, a leading industry body said the crop was nearly 6.25% lower than the government's estimate. The country's rice production in 2025 is also set to c ...Read More >
New Delhi, Jun 26: In a significant enforcement action, the Directorate of Revenue Intelligence (DRI) has seized goods worth Rs 9 crore under 'Operation Deep Manifest', targeting illegal imports of Pakistani-origin goods routed through Dubai. The operation has thus far led to the seizure of 39 containers carrying 1,115 metric tonnes of goods in blatant violation of import policy conditions and prohibitions imposed by the government on direct or indirect import or transit of Pakistani-origin goods, the finance ministry said in a statement on Thursday. One of the partners of an importing firm ...Read More >
Kuppam (Chittoor district): Chief Minister N Chandrababu Naidu has called on pulp industries and processing units to immediately step up and procure mangoes from farmers. At a high-level meeting held at his residence in Kuppam on Thursday, Naidu assured farmers that the state government was committed to protecting their interests and would also provide necessary assistance to industries to keep the supply chain moving. The meeting brought together mango farmers, industry representatives, and government officials from the erstwhile Chittoor district. Officials informed the Chief Minister that ...Read More >
HYDERABAD The Bharat Rashtra Samithi (BRS) has ridiculed the argument of Minister for Irrigation N. Uttam Kumar Reddy, who had stated that it was not possible to lift water from Medigadda Barrage damaged due to the sinking of piers, and observed that it is not the barrage that had sunk but it is the willingness of the ruling party. Speaking at a party meeting here on Monday, former minister for irrigation T. Harish Rao accused Mr. Uttam Kumar Reddy of waiting for 'auspicious' time to switch on the motors of Kalwakurthy, when Andhra Pradesh had already started drawing water from Pothireddypad ...Read More >
New Delhi, Jul 9 (PTI) The proposed 50 per cent import tariff on copper announced by US President Donald Trump will not have any impact on Indian companies as the country is copper-deficient, according to an industry official. Also, Coal and Mines Minister G Kishan Reddy on Wednesday said India will discuss the impact of US tariffs on copper. Also Read | Belagavi Shocker: 3 of Family Members Die by Suicide After Consuming Poison Over Debt in Karnataka. International Copper Association India Managing Director Mayur Karmarkar said, "India is a copper-deficient country, and its export, as such ...Read More >
New Delhi [India], July 13 (ANI): Sneha Debnath, a 19-year-old girl from Sabroom in South Tripura district, reportedly went missing in the national capital. Following this, Tripura Chief Minister Manik Saha gave necessary instructions to the police to take immediate and appropriate action on the matter. Also Read | Trump Announces 30% Tariffs on EU Goods as Trade Talks Stall. In a statement posted on its official social media account, the Tripura Chief Minister's Office stated, "The report of Miss Sneha Debnath, a resident of Sabroom, who has reportedly gone missing in New Delhi, has come t ...Read More >
New Delhi, Jan 27 (PTI) LT Foods, a leading player in the basmati and speciality rice segment, on Monday posted 4.75 per cent drop in consolidated net profit at Rs 145.38 crore on higher expenses. The company had logged a net profit of Rs 152.64 crore in the year-ago period. Total income rose to Rs 2,288.25 crore from Rs 1,949.68 crore in the corresponding period of the previous year, according to a regulatory filing. Expenses rose to Rs 2,094.42 crore from Rs 1,757.67 crore. The Board reappointed Ashwani Kumar Arora and Surinder Kumar Arora as Managing Directors of the company, subject to ...Read More >
New Delhi, May 26 (PTI) Alcoholic beverage maker's body CIABC has urged the government to adopt a phased reduction in import duties on liquor products under the proposed India-EU free trade agreement (FTA), while calling for strong safeguards to prevent misuse of trade concessions under the pact. In a submission to the commerce ministry, Confederation of Indian Alcoholic Beverage Companies (CIABC) has proposed slashing the effective customs (or import) duty on bottled products like wines and spirits from the current 150 per cent to 100 per cent immediately and then down to a resting customs d ...Read More >
Kuppam (Andhra Pradesh), Jul 3 (PTI) Andhra Pradesh Chief Minister N Chandrababu Naidu on Thursday urged mango farmers and pulp companies to work together, especially as farmers face a major crisis. At a meeting with mango farmers from the undivided Chittoor district and representatives of pulp companies and processing units at his residence in Kuppam, Naidu directed companies to immediately purchase mangoes from farmers. "The government will also support the pulp industry and processing units," Naidu said in an official release. He assured farmers that the government will formulate an acti ...Read More >
Uttarakhand News: CM Dhami Meets PM Modi in Delhi, Seeks Support for Uttarakhand's Development Initiatives Chief Minister Pushkar Singh Dhami met Prime Minister Modi to discuss various development initiatives for Uttarakhand, including infrastructure and upcoming events like the Mahakumbh. Chief Minister Pushkar Singh Dhami met Prime Minister Narendra Modi in New Delhi and sought guidance on various subjects related to the development of Uttarakhand. The Chief Minister expressed gratitude to the Central Government for its support in the state's development and stated that under the leadershi ...Read More >
Dehradun (Uttarakhand) [India], July 14 (ANI): Uttarakhand Chief Minister Pushkar Singh Dhami paid a courtesy call on Prime Minister Narendra Modi in New Delhi and sought guidance on various issues related to the development of Uttarakhand, a release from Uttarakhand CMO said. Expressing gratitude to the Central Government for its cooperation in the development of the state, the Chief Minister said that under the leadership of the Prime Minister, Uttarakhand is ready to play its effective role in the vision of Developed India 2047. The Chief Minister said that all Indians are proud that 27 c ...Read More >
Hyderabad: With the early onset of pre-monsoon showers, farmers across Telangana have started their agricultural activities ahead of schedule. However, the agriculture department is facing strong criticism for failing to provide adequate fertilizers and seeds necessary for the current season. According to officials, there is a significant shortfall in the availability of essential inputs like urea and cotton seeds, which may negatively impact crop planning and productivity across the state. Also Read: Madhuri Dixit Recalls 'Hum Aapke Hain Koun' Magic with Salman Khan as Monsoon Arrives For ...Read More >
MUMBAI: The Directorate of Revenue Intelligence (DRI) has seized 39 cargo containers with 1,115 metric tonnes of dry dates of Pakistani origin, estimated to be worth ₹9 crore. The containers, seized at the Nhava Sheva port, were imported via Dubai to circumvent the ban on the import of Pakistani goods, imposed after the April 22 attack in Pahalgam, said DRI officials. The Mumbai-based partner of the firm which imported the dates was arrested on Thursday, the officials added. On May 2, the Directorate General of Foreign Trade (DGFT) said in a notification that a provision was added in the Fore ...Read More >
New Delhi: The clock is ticking. Only a few days left before the July 9 deadline set by U.S. President Donald Trump. Hopes of a limited trade deal between India and the United States still linger. But the mood around the negotiating table feels anything but settled. The White House has publicly hinted that the deal is all but done. In New Delhi, officials have echoed a similar sentiment, calling the potential agreement "big, good and beautiful". Trump claimed it would open Indian markets to American goods. But behind closed doors, things remain tangled in tough back-and-forth. Key concerns h ...Read More >
Amaravati: Andhra Pradesh IT and Human Resources Development Minister Nara Lokesh on Friday hailed the successful implementation of the state-wide 'Mega Parent-Teacher Meeting (PTM) 2.0' programme. Expressing gratitude to all stakeholders, he credited the collective efforts of government and private schools, colleges, education officials, staff, headmasters, teachers, students, parents, donors, alumni, public representatives, and officers from various departments for making the event a success. ...Read More >
Kedia Advisory - India's palm oil imports surged to an 11-month high in June, rising over 60% from May to nearly 956,000 metric tons, driven by a price advantage over soyoil and sunflower oil and the need to rebuild depleted stocks. While soyoil imports dipped nearly 10%, sunflower oil imports rose by almost 18%. Domestic vegetable oil stocks increased for the first time in seven months, easing supply concerns. Experts expect palm oil imports to stay above 900,000 tons in July due to continued price competitiveness, with soyoil shipments also likely to rise as port delays get resolved. Key Hi ...Read More >
New Delhi, Jul 14 (PTI) The negotiations between India and the US for a proposed trade agreement are going at a fast pace, Commerce and Industry Minister Piyush Goyal said on Monday. The Indian team has reached Washington for the next round of talks on the first tranche of the bilateral trade agreement. Also Read | Prime Minister Narendra Modi Condoles Demise of Kota Srinivasa Rao Garu, Remembers Actor-Politician's 'Cinematic Brilliance' and 'Social Service' (See Post). "Negotiations are going on at a very fast pace and in the spirit of mutual cooperation so that we can come out with a win- ...Read More >