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 [India], August 14 (ANI): Foreign capital inflows into India are likely to accelerate following S&P recent credit rating upgrade, which is also expected to lower borrowing costs for the country, said Sonal Badhan, Economist at Bank of Baroda (BoB). In both the short and long term, foreign capital inflows can be expected to be impacted positively, as the upgrade reaffirms trust in India ound fundamentals and growth momentum. We are likely to see higher FPI inflows this year and a decline in bond yields, BoB Economist Told ANI. According to Badhan, India recent credit rating upgrade by S&P is set to accelerate foreign capital inflows, particularly into the debt market, and lower borrowing costs for both the government and corporates, according to an economist. The RBI Annual Financial Account data for Q2 of FY 2024-25 (July-September 2024) indicates that the Net foreign direct investment recorded an outflow of USD 2.2 billion, compared to an outflow of USD 0.8 billion during the same quarter in FY 2023-24. India recorded provisional FDI inflows of USD 81.04 billion in FY 2024-25, marking a 14 per cent increase from USD 71.28 billion in FY 2023-24, according to the government data. While there will be more room for the government to borrow, we believe it is unlikely that the government will make use of it. In the union budget for FY26, the centre had committed to gradually bring its debt-GDP ratio down, thus implying its intent to keep the borrowing program range bound, she added. In the Union Budget for FY26, the Centre had committed to gradually bring its debt-to-GDP ratio down, implying its intent to keep the borrowing programme range-bound, the economist said. BoB economist further added that the impact on borrowing costs is expected to be swift after the upgradation of the rating. This will definitely help lower the borrowing cost for both government and corporates, as the rates for corporates mimic the trend in the G-sec market. The impact will be almost immediate, as we have already seen ~8bps decline in 10Y G-sec bond yields after the decision came, she added. Badhan further added that the upgrade is also likely to encourage other rating agencies, such as Moody and Fitch, to follow suit. We expect other rating agencies also to follow suit, as the upgrade has been long overdue. Indian economy has consistently performed well even amidst turbulent global environment and our central government fiscal deficit ratio has also consistently remained on track of consolidation, without compromising upon the impetus required to provide growth a boost, the economist said. In a significant boost to investor confidence, S&P Global Ratings has upgraded India long-term unsolicited sovereign credit rating to BBB from BBB-, while also raising the short-term rating to A-2 from A-3. The outlook on the long-term rating remains stable, reflecting optimism around India policy continuity, robust economic growth, and improved fiscal management. Alongside the rating upgrade, S&P also revised its transfer and convertibility assessment for India to A- from BBB+, citing an improved monetary and external environment. According to S&P, the stable outlook suggests confidence in India ability to sustain its growth trajectory, driven by high levels of infrastructure investment and a disciplined policy environment. (ANI) Disclaimer: This news article is a direct feed from ANI and has not been edited by the News Nation team. The news agency is solely responsible for its content.
New Delhi [India], December 2: The IVCA GreenReturns Summit 2024 commenced today in New Delhi, convening over 400 visionaries, investors, policymakers, and entrepreneurs to chart a transformative path for India's green economy. The Summit is dedicated to aligning India's climate goals with its trillion-dollar economic aspirations for a 'Viksit Bharat,' spotlighting high-impact investment opportunities, addressing funding gaps, and driving actionable solutions for net-zero and climate adaptation. Also Read | Mamata Banerjee Says West Bengal Yet To Get INR 14,000 Crore From Centre for Supply of ...Read More >
NewsVoir New Delhi [India], December 4: OPPO India's latest flagship smartphone series, the OPPO Find X8 Pro and OPPO Find X8, is on sale starting - 3rd December 2024 across the OPPO e-store, Flipkart, and mainline retail outlets. The Find X8 series is a blend of cutting-edge performance, premium design, and innovative camera technology, complemented by exciting launch offers. Pricing & Launch Offers * OPPO Find X8 Pro (16GB + 512GB) is priced at INR 99,999 and can be got for as low as INR 82,000* with offers. * OPPO Find X8 (12GB + 256GB), priced at INR 69,999, is available for as low as ...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 >
India's manufacturing sector growth fell to a joint 11-month low, restricted by competitive conditions and inflationary pressures India's manufacturing sector growth fell to a joint 11-month low of 56.5 in November, restricted by competitive conditions and inflationary pressures amid a softer increase in factory orders, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in October to 56.5 in November, signalling a softer improvement in the health of the sector. However, the pace of growth remained above its long-r ...Read More >
MUMBAI/NEW DELHI -- The Reserve Bank of India (RBI) on Friday slashed its economic growth forecast for the current financial year ending in March to 6.6% from the 7.2% projected in October after seeing "much lower than anticipated" gross domestic product expansion of 5.4% in July-September. "This decline in [the July-September quarter] growth was led mainly by a substantial deceleration in industrial growth from 7.4% in Q1 to 2.1% in Q2 due to subdued performance of manufacturing companies, contraction in mining activity and lower electricity demand," RBI Gov. Shaktikanta Das said in a televi ...Read More >
The Reserve Bank of India raised the interest rate caps on Foreign Currency Non-Resident Bank (FCNR-B) deposits to attract more capital inflows, amid pressures on the rupee. Starting December 6, banks can offer higher rates -- up to 400 basis points for 1-3 year deposits and 500 basis points for 3-5 year deposits -- until March 31, 2025. This move comes as the rupee faces volatility.The Reserve Bank of India on Friday announced a raise in the interest rate caps on the Indian diaspora's foreign cu ...Read More >
NEW DELHI, Dec 11 (Reuters) - London copper prices climbed to a nearly one-month high on Wednesday, as markets drew support from top consumer China's recent announcement that it will ease monetary policy and adopt a proactive fiscal policy to propel growth next year. Three-month copper on the London Metal Exchange (LME) was up 0.8% at $9,290 per metric ton, as of 0353 GMT. The contract briefly touched $9,314 per metric ton, its highest level since Nov. 12. The most-traded January copper contract on the Shanghai Futures Exchange (SHFE) rose 0.4% to 75,690 yuan ($10,443.31) a ton. China will ...Read More >
Hong Kong, December 3, (ANI): Mainland Chinese shoppers are once again flocking to stores in Hong Kong, but this time, their focus is on purchasing sanitary towels and other feminine care products, rather than infant formula, cooking oil, or Yakult drinks. This shift in shopping habits is driven by concerns over reports of contaminated and discoloured cotton fillings in similar products sold in mainland China. These safety issues have led many consumers to seek alternatives in Hong Kong, where the quality is perceived to be more reliable, Radio Free Asia reported. A shopper from Guangzhou, i ...Read More >
Hong Kong: Mainland Chinese shoppers are once again flocking to stores in Hong Kong, but this time, their focus is on purchasing sanitary towels and other feminine care products, rather than infant formula, cooking oil, or Yakult drinks. This shift in shopping habits is driven by concerns over reports of contaminated and discoloured cotton fillings in similar products sold in mainland China. These safety issues have led many consumers to seek alternatives in Hong Kong, where the quality is perceived to be more reliable, Radio Free Asia reported. A shopper from Guangzhou, interviewed by Radio ...Read More >
India's growth in gross domestic product (GDP) of 5.4% in the three months ended 30 September, or the second quarter of 2024-25, was a shocker. It undershot even the most pessimistic forecasts. It's the lowest level seen since the third quarter of 2022-23 and a sharp drop from 8.1% growth in the same period last year and also from 6.7% in the first quarter of 2024-25. The consensus expectation stood at about 6.5% and the Reserve Bank of India (RBI) was expecting around 7% growth till its October policy, only to pare it to 6.8%. Growth in gross value added (GVA), which is the preferred measure ...Read More >
New Delhi [India], December 4 (ANI): The Central Bureau of Investigation (CBI) on Wednesday conducted searches at 10 locations in Delhi and surrounding areas in connection with an on-going investigation of a transnational cyber enabled fraud case involving large-scale financial scams. CBI registered the said case under Sections 403 and 420 of the Indian Penal Code and Section 66D of the Information Technology Act, 2000, based on a written complaint received from the Indian Cyber Crime Coordination Centre (I4C), Ministry of Home Affairs, Government of India. The complaint alleged that unknown ...Read More >
Pointing to the increase in the country's stature in the world forum, he asked how, under these circumstances, the promises made to farmers cannot be fulfilled. "Policy-making is not on right track," he added.. Jagdeep Dhankhar's comments come amid a spike in farmer protests. Vice President Jagdeep Dhankhar took up the farmers' issue and questioned the government on their behalf today, directing most of his queries at the Union agriculture minister. Pointing to the increase in the country's sta ...Read More >
Former Delhi Chief Minister Arvind Kejriwal announced several pre-election promises targeting auto drivers. These include a ₹10 lakh insurance policy, ₹1 lakh for daughters' marriages, a biannual ₹2,500 uniform allowance, free coaching for their children, and the relaunch of the 'PoochO' ride-booking app. Kejriwal and the AAP are campaigning to secure a third term in the upcoming February elections.Ahead of crucial Delhi assembly polls, Arvind Kejriwal promised several measures for auto dri ...Read More >
New Delhi, [India], December 11 (ANI): The Supreme Court has expressed concern over the growing tendency to misuse Section 498A of the Indian Penal Code (IPC), which penalises cruelty by husbands and their relatives against married women. While quashing a Section 498A IPC case against a husband and his parents, a bench of Justices BV Nagarathna and N Kotiswar Singh said that the Section became a tool for unleashing personal vendetta against the husband and his family by a wife. Also Read | RBI Will Remain Alert and Agile to Meet Challenges, Says New Governor Sanjay Malhotra (Watch Video). " ...Read More >
New Delhi [India], December 11 (ANI): Aam Aadmi Party (AAP) National Convenor Arvind Kejriwal and Delhi Chief Minister Atishi on Wednesday reached the office of the Election Commission to meet the Chief Election Commissioner. Kejriwal has alleged that the Bharatiya Janata Party (BJP) is trying to cut votes from the voters' list ahead of the Delhi Assembly election. Meanwhile, Senior AAP leader Manish Sisodia alleged that the BJP had submitted a large number of applications for the deletion of voters' names from the electoral rolls, including those who have been living in the same area for yea ...Read More >
At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close The rupee fell 2 paise to trade at 84.49 against the U.S. dollar in early trade on Friday (November 29, 2024) dragged down by significant foreign fund outflows and month-end dollar demand from importers. Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks. At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close. On ...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 >
Chandigarh [India], December 3 (ANI): Punjab Legislative Assembly Leader of Opposition and Congress leader Partap Singh Bajwa on Tuesday, slammed the BJP-led central government for neglecting the interests of farmers in Punjab and Haryana. Bajwa's scathing attack comes amidst growing discontent among farmers in the region, who feel their concerns have been ignored by the ruling party. "Ever since the BJP government has come to power, they have not taken a single decision that is in the interest of the farmers of India, especially the farmers of Punjab and Haryana. It is their fundamental rig ...Read More >
New Delhi, Dec 3 (PTI) Finance Minister Nirmala Sitharaman will commence customary pre-Budget consultations with various stakeholders beginning Friday. As part of the process, she will meet eminent economists on December 6 to seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent recorded in the second quarter of the current financial year. It will be followed by a meeting with farmer associations and agriculture economists and stakeholders in MSME sector scheduled for December 7, sources said. Union Budget 2025-26 is likely to be tabled in Parliament o ...Read More >
H.E. Josel Francisco Ignacio, current Ambassador of the Philippines to India shares his credentials with President Droupadi Murmu On 16 November 1949, the Philippines and India, the two independent democracies would forge diplomatic ties. The two republics were born just a few years apart, first set out on the road to their bilateral friendship and collaboration. This inaugurated a period of closer government interaction, commerce and investment, and other bilateral and multilateral cooperation. Building on much common ground in history, democratic ideals, socio-economic imperatives and aspi ...Read More >
New Delhi [India], November 28 (ANI): India has expressed its concern over the escalating incidents of violence against Hindu minorities in Bangladesh and desecration, and damage to their places of worship, and has also called on the interim government there to ensure the safety of minorities. In a response to question asked by RJD MP AD Singh, Minister of State for Ministry of External Affairs, Kirit Vardhan Singh in a written reply to Rajya Sabha, stated that the "primary responsibility" for the protection of life and liberty of all citizens of Bangladesh, including minorities, "rests with ...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 >
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 >
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 >
New Delhi [India], December 3 (ANI): Oilfields (Regulation and Development) Amendment Bill, 2024 to expand the definition of mineral oils and include petroleum and natural gas passed in the Rajya Sabha on Tuesday. The bill was introduced by Union petroleum and natural gas minister Hardeep Singh Puri for consideration and passing. The Bill will regulate the exploration and extraction of natural gas and petroleum. The amended bill expands the definition of mineral oils to include petroleum and natural gas in it. Also Read | Pune: Doctors Perform Rare Laser Surgery on Woman Pregnant With Monoam ...Read More >
The BJP has accused Rahul Gandhi of collaborating with "anti-India international forces," citing a Mediapart report on OCCRP's funding and Gandhi's meetings with alleged Modi government critics. The party highlighted the timing of reports critical of India coinciding with parliamentary sessions, including those on farmers, Pegasus, Hindenburg, and the BBC documentary.BJP on Thursday accused Lok Sabha's Leader of Opposition Rahul Gandhi of colluding with 'anti-India international forces'. The ruli ...Read More >
Markets opened on a cautiously optimistic note on Wednesday, with the Sensex and Nifty showing marginal gains, while investors closely monitored global economic indicators and upcoming domestic policy decisions. The Sensex opened higher at 81,036.22 from its previous close of 80,845.75 and is currently trading at 81,168.92 as of 9.45 am, up by 323.17 points or 0.40 per cent. Similarly, the Nifty opened at 24,488.75 compared to its previous close of 24,457.15 and is now at 24,558.20, rising by 101 ...Read More >
(Bloomberg) -- Indian bonds are poised to gain while the rupee is set to weaken as analysts bet on a softer monetary policy after the government named career bureaucrat Sanjay Malhotra as the new Reserve Bank of India governor. Most Read from Bloomberg Malhotra, a surprise pick, will take charge from Shaktikanta Das under whom the RBI kept borrowing costs unchanged for almost two years. While Malhotra's views on monetary policy are largely unknown, he recently urged revenue officials to prioritize economic growth, and the markets may read his appointment as dovish. The central bank is expec ...Read More >
Despite its vast potential, the full capabilities of GST data remain largely unrealised. While aggregate data provides a broad overview of tax performance and health of the Indian economy, disaggregated sector-wise information is crucial for evidence-based policymaking. A closer look at the performance of GST revenue collection raises several questions. First, though the growth of GST revenue collection improved in the last seven years (13 per cent) compared to the pre-GST period 2012-17 (11.8 per cent), there has been hardly an increase in the tax base of GST in the last seven years compared ...Read More >
The Indian government has announced a 375km rail network expansion, aimed at enhancing economic growth and connectivity in North Maharashtra, Madhya Pradesh, and Uttar Pradesh. With a total cost of approximately Rs79.27bn ($1.05bn), these projects are aimed to be completed within four years. Union Minister of Railways, Ashwini Vaishnaw, detailed the Cabinet Committee on Economic Affairs' approval of three railway infrastructure projects. The projects include the Jalgaon-Manmad fourth line (160 km), Bhusawal-Khandwa third and fourth lines (131km), and the Prayagraj (Iradatganj)-Manikpur thir ...Read More >