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, Aug 28 (PTI) India needs to come together to deal with the 50 per cent punitive US tariffs on Indian products and stand up to any kind of bullying, Maruti Suzuki India Chairman R C Bhargava said on Thursday. Addressing shareholders at the company's 44th Annual General Meeting (AGM) here, the veteran industry leader also noted that reduction in GST on small cars would help in reviving the growth of the industry. "We are all aware of the global uncertainty that has been caused in recent months. President Trump has in many ways, forced nations to think. Conventional policies and relationships, in particular, the use of tariffs in diplomacy is being seen for the first time," Bhargava noted. The US's 50 per cent tariffs on Indian goods came into effect from August 27, and will impact exports and job creation in labour-intensive sectors such as shrimp, apparel, diamonds, leather and footwear, and gems and jewellery. "I believe it is our duty as Indians to do our very best to support the government and maintain our dignity and respect and not give in to any kind of bullying in this matter. The nation has to stand united at this point of time," Bhargava said. He also termed the goods and services tax (GST) restructuring announcement as a major reform that would lead to faster economic growth and employment generation. "We are hopeful that the proposal which the Prime Minister made will result in the GST on small cars, reducing to 18 per cent. But we have to wait till the official announcement is made. It is a matter of happiness that the government has recognised that there are a large number of consumers at the lower end of the market and they need some help in these difficult times," Bhargava said. "My hope and expectation are that subject to approvals by the GST Council, we will see a revival of the small car market," he added. The Centre has proposed a two-tier GST structure of 5 and 18 per cent, besides a 40 per cent special rate on a select few items to the group of ministers (GoM) on GST rate rationalisation. GST is levied at 5, 12, 18 and 28 per cent. While food and essential items are either at nil or 5 per cent, luxury and demerit goods are in the 28 per cent slab, with a cess on top of it. Presently, automobiles are taxed at 28 per cent, which is the highest GST slab. A compensation cess, ranging from 1 to 22 per cent, is levied on top of this rate, depending on the type of vehicle. The total tax incidence on cars, depending on engine capacity and length, ranges from 29 per cent for small petrol cars to 50 per cent for SUVs. Electric vehicles are taxed at a rate of 5 per cent. Bhargava noted that considering that a large percentage of the Indian population is dependent on two-wheelers for personal transportation, the high risk and discomfort associated with these vehicles, there is a need to consider the introduction of cars that would provide an alternative to the scooter owners. Japan in the 1950s solved a similar problem by introducing the Kei cars, he said. "They are smaller, have lower safety regulations and are subject to lower taxes than other cars. I think India needs to consider something similar to that," he added. Bhargava noted that whether it is the United States, Europe, China, or South Korea, electric cars and hybrid cars are growing together everywhere. "The taxation on electric cars and hybrid cars in Europe and the United States is very similar. In India, we believe that there is a need for technologies to be encouraged by the taxation system, not only electric vehicle technology but any technology which leads to cleaner cars, reduction of oil consumption, reduction of pollution in the air and which leads us towards net-zero," he stated. Terming the rare earth magnet shortage issue "a warning signal", he noted that the matter seems to be resolving due to the government's intervention. "Our government has entered into a landmark free trade agreement with the United Kingdom, and this could form a template for future agreements," he added. PTI MSS RKL TRB
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 >
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 >
New Delhi, Dec 12 (PTI) The Rs 8,000 crore initial share sale of supermarket chain Vishal Mega Mart got fully subscribed on the second day of bidding on Thursday, ending with 1.53 times subscription. The three-day initial public offer (IPO) got bids for 1,15,74,96,150 shares against 75,67,56,757 shares on offer, according to data available with the NSE. The portion for non-institutional investors attracted 3.80 times subscription while the share of Retail Individual Investors (RIIs) got subscribed 1.16 times. The category for Qualified Institutional Buyers (QIBs) received 48 per cent subscri ...Read More >
NEW DELHI: India has seen limited success so far in capturing the 'China Plus One strategy', while Vietnam, Thailand, Cambodia, and Malaysia have become bigger beneficiaries, according to a report of government think tank Niti Aayog. It said that factors such as cheaper labour, simplified tax laws, lower tariffs and pro-activeness in signing Free Trade Agreements (FTAs) have played a critical role in helping these countries expand their export shares. The US has implemented stricter export controls and higher tariffs on Chinese goods to limit China's growth and expenditure towards technologi ...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 >
New Delhi, Dec 12 (PTI) Tata Consultancy Services (TCS) has extended its partnership with mobile operator firm Telenor Denmark, signing a five-year deal to manage the telecom operator's IT infrastructure. Over the last six years, TCS has implemented its Machine First Delivery Model to enhance Telenor Denmark's IT infrastructure, which caters to more than 1.6 million users. With the extension of this partnership, TCS will work from its delivery centre in Europe to ensure operational cost reductions and improved IT infrastructure for Telenor, according to a company statement. "The key highlig ...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: From 2025, the CUET-UG will be conducted exclusively as a computer-based test (CBT), and students will have the flexibility to appear for any subject, regardless of what they studied in class 12. This decision follows a review conducted by an expert panel set up by the University Grants Commission (UGC), as explained by UGC Chairman Jagadesh Kumar. What are the major changes? In an interview with PTI, Kumar elaborated on the changes saying, "The exam will be conducted only in CBT mode from 2025, unlike the hybrid mode used last year. We have also reduced the number of subjects fr ...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 >
Chennai: The capacity utilisation of the domestic steel industry is set to drop to 78 per cent for the first time in four years. In order to check unprecedented imports, the government is considering imposing a 25 per cent duty on steel imports. Cheaper imports from China and countries under Free Trade Agreement along with ongoing capacity addition can lead to capacity utilisation of domestic steel mills dropping from 85 per cent in FY2024 to an estimated 78 per cent in the current fiscal, the lowest we have seen in the last four years. The domestic steel industry witnessed an all-time high ...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 >
Amazon Web Services (AWS) has launched the Quantum Embark advisory program to help businesses prepare for the emerging quantum computing era. The program comes as quantum stocks, like IonQ, see significant growth, driven by innovations in drug discovery, cryptography, and materials science. Companies like D-Wave and Rigetti are advancing quantum technologies, with D-Wave focusing on optimization problems and Rigetti on scalable quantum systems. Despite early financial losses, these companies are gaining traction with government contracts and commercial clients. As quantum computing evolves, in ...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 >
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 >
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 >
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 >
Asian and European stocks surged thanks to tech companies driving Wall Street to record highs. Japan's Nikkei and several European indices rose, while the US dollar stabilized after a previous surge. Political tensions in France and tariff threats from the US also affected market movements and currency valuations. Stock markets across Asia and Europe experienced a resurgence on Tuesday, driven in part by a strong performance in tech stocks in the US. Japan's Nikkei index surged by 1.91%, and the MSCI Asia index saw a 1.16% rise, bolstered by Wall Street's record highs overnight. European ind ...Read More >
Stock market today: The Indian stock market clocked healthy gains for the third consecutive session on Tuesday, December 3, led by gains in shares of select heavyweights, including Reliance Industries, HDFC Bank and Larsen and Toubro. Benchmark index Nifty 50 jumped 0.70 per cent to the level of 24,445.80, breaking above its 50 and 100-day exponential moving averages (DEMA). According to Trendlyne, an equity research platform, Nifty 50 is above its 100-day EMA of 24,306 and 50-day EMA of 24,364. However, the index is yet to breach its 50-day and 100-day simple moving averages (SMAs) of 24,643 ...Read More >
New Delhi, Dec 3 (PTI) Mahindra & Mahindra on Tuesday said it is in discussions with InterGlobe Aviation, which owns IndiGo airlines, to find an amicable solution regarding a trademark issue over the use of "6e" in its all-new electric model. The automaker, which introduced two electric brands -- BE 6e and XEV 9e -- earlier this month, said its trademark 'BE 6e' differs from IndiGo's '6E', eliminating any risk of confusion. IndiGo uses 6E as the airline designator code. "We have taken on board the concerns that InterGlobe Aviation Ltd have to infringement of their goodwill, which was not ou ...Read More >
Chandigarh, Dec 11 (PTI) Farmer leader from Punjab Jagjit Singh Dallewal's fast unto death at the Khanauri border point to press the Centre to accept farmers' demands, including a legal guarantee on the MSP for crops, entered the 16th day on Wednesday. Farmers on Wednesday held prayers for the success of their agitation going on at the Shambhu and Khanauri border points between Punjab and Haryana in support of their various demands and for the good health of Dallewal. Farmers under the banner of Samyukta Kisan Morcha (Non-Political) and Kisan Mazdoor Morcha (KMM) have been camping at Shambhu ...Read More >
The steelmaker informed that it will reduce 5,000 jobs by 2030 and a further 6,000 jobs will be let go of via the sale of business activities or transfer to external service providers.Source : Thyssenkrupp Thyssenkrupp Steel Europe (TKSE) is planning to slash its workforce by roughly 40 per cent, the firm said on Monday. The steelmaker is looking to layoff nearly 11,000 workers as it announced a major restructuring move. The firm is a division of Thyssenkrupp AG and is the largest steelmaker in Germany. It has been facing pressure from cheaper Asian competitors, increasing power prices, and ...Read More >
Mumbai: Indian stock markets on Wednesday opened near the flatline on a cautious note, tracking the subdued sentiment in Asian markets. At the opening of the trade, Nifty at National Stock Exchange (NSE) started at 24,204.80, up 10.30 points and Sensex at 80,121.03, up by about 122 points. In the opening trade, the stocks of Coal India, Adani Enterprises, Mahindra and Mahindra, Adani Ports, and Kotak Banks were the top gainers. On the other hand, IndusInd Bank, Cipla, Tata Consumer Products, Bharti Airtel, and UltraTech Cement were the major losers on the NSE. Among the sectoral indices, Aut ...Read More >
New Delhi: CUET-UG will be conducted only as a computer-based test (CBT) from 2025 and students will be allowed to appear for any subject irrespective of the subjects studied in class 12, according to UGC Chairman Jagadesh Kumar. In an interaction with PTI, Kumar said an expert panel set up by the University Grants Commission (UGC) conducted a review of the exam and proposed several changes. "The exam will be conducted only in CBT mode from 2025 unlike hybrid mode last year. We have also reduced the number of subjects from 63 to 37 and admissions for the dropped subjects will be conducted on ...Read More >
New Delhi, Dec 11 (PTI) India's maritime sector is poised to play a transformative role in the country's vision of becoming world's third-largest economy, Vice President Jagdeep Dhankhar said Wednesday. Today, India stands as an emerging maritime powerhouse, strategically leveraging its geographical location and advanced infrastructure to spearhead global maritime initiatives, the Vice President said. "With the global blue economy projected to reach USD 6 trillion by 2030, India's maritime sector stands poised to play a transformative role in our emergence as the world's third-largest econom ...Read More >