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: Union Commerce Minister Piyush Goyal on Friday described the reform in the Goods and Services Tax (GST) as "one of a kind" since independence, hailing it as a "gift" to the country. He drew a clear contrast between the current GST framework and the Congress-led United Progressive Alliance (UPA) era, criticising the former government for failing to inspire confidence among states regarding compensation promises for the proposed unified indirect tax. "When Prime Minister Narendra Modi announced the GST in 2017, he committed to all states a 14% growth in annual revenue. PM Modi had the confidence of all states, and that's how the one indirect tax was announced," Goyal told reporters in New Delhi. He emphasised that the Modi-led government had fulfilled this commitment, even during the Covid-19 pandemic, by ensuring compensation to states at the assured 14% growth rate despite economic challenges. Responding to criticism from the Opposition, Goyal rejected allegations of mismanagement. He argued that the GST had significantly eased the tax burden on citizens compared to the pre-2014 period, when indirect taxes often amounted to between 30% and 35%. "That burden has been rationalised under GST," he said, highlighting the shift to a more transparent and streamlined tax structure. The minister also stated that leading industrialists had pledged to pass on the benefits of lower GST rates to consumers. "We have been assured by the industrialists that whatever profit is gained from lowering the GST rates will be passed on to the consumers," he said, adding that this would encourage demand and drive investment. "It has a promising multiplier effect," he noted. On Wednesday, the GST Council, India's apex decision-making body on indirect taxation, approved a major overhaul of the system. The previous four-tier structure of 5%, 12%, 18%, and 28% has been replaced by a simplified two-rate model of 5% and 18%, along with a special 40% slab for select goods.
New Delhi | PM Modi on Thursday lauded the Indian hockey team for winning the men's junior Asia Cup, saying their unmatched skill, unwavering grit and incredible teamwork have etched this victory into the annals of sporting glory., saying their unmatched skill, unwavering grit and incredible teamwork have etched this victory into the annals of sporting glory. He said on X, "Proud of our hockey champions! It's a historic moment for Indian hockey as our Men's Junior Team wins the Junior Asia Cup 2 ...Read More >
Rameswaram, Feb 10 (PTI) The new 2.05 kilometre Pamban Bridge will allow trains to cross the sea between mainland India and Rameswaram Island in Tamil Nadu in less than 5 minutes, significantly less than the previous 25-30 minutes on the old structure, railway officials said on Monday. The bridge is ready to be dedicated to the nation and Prime Minister Narendra Modi is expected to inaugurate it within the next few weeks, though a date is yet to be decided, he added. "Trains used to take 25-30 minutes to cross the old colonial-era Pamban Bridge between Mandapam and Rameswaram Islands due to ...Read More >
Guwahati, Jun 5 (PTI) The Assam Congress on Thursday demanded a CBI inquiry into alleged illegal stone mining in Karbi Anglong district in violation of a Supreme Court order. Addressing a press conference here, former Rajya Sabha member Ripun Bora also alleged that Karbi Anglong Autonomous Council Chief Executive Member Tuliram Ronghang was allowing illegal activities in the district in nexus with Chief Minister Himanta Biswa Sarma. "Large-scale illegal stone mining is taking place in the hills of Karbi Anglong in violation of the Supreme Court order. The SC had banned mining in and around K ...Read More >
NEW DELHI (AP) -- India will start counting its vast population in a mammoth exercise starting next year. The first census in 16 years will be conducted digitally and include controversial questions about caste for the first time since independence. The Home Ministry announced plans to conduct a two-stage count ending March 1, 2027, in a statement Wednesday night. India's last official census in 2011 counted 1.21 billion people. The country's population is now estimated to be well over 1.4 billion, making it the world's most populous country, according to the U.N.'s Department of Economic an ...Read More >
New Delhi [India], June 8 (ANI): Union Minister Piyush Goyal on Saturday described his meeting with UK Foreign Secretary David Lammy as 'fruitful' as they discussed avenues to deepen bilateral trade and strengthen collaboration across various sectors to 'unlock' the full potential of our Comprehensive Strategic Partnership. https://x.com/PiyushGoyal/status/1931405191758389633 'Had a fruitful meeting with UK Foreign Secretary David Lammy today. We both expressed our appreciation towards the work done in finalising the historic India-UK FTA, which is poised to give further boost to our growing ...Read More >
Chennai: Hours before Union home minister Amit Shah was to arrive in Madurai, Thuglak editor and an associate of Shah, S Gurumurthy on Saturday met PMK founder S Ramadoss. The PMK leader, however, ruled out the possibility of meeting Amit Shah during his two-day visit to Tamil Nadu.Gurumurthy met Ramadoss for the second time amid reported tension within PMK regarding alliance strategies and insistence by Anbumani Ramadoss to remain party president. The hour-long meeting took place at the T Nagar residence of A K Vijay Mahesh, son of former Union minister and PMK leader A K Moorthy, sources sai ...Read More >
New Delhi [India], June 8 (ANI): Union Minister Piyush Goyal on Saturday described his meeting with UK Foreign Secretary David Lammy as 'fruitful' as they discussed avenues to deepen bilateral trade and strengthen collaboration across various sectors to "unlock" the full potential of our Comprehensive Strategic Partnership. https://x.com/PiyushGoyal/status/1931405191758389633 Also Read | Kodaikanal Shocker: Doctor in Debt Administers IV Fluids To Himself in Car, Dies; Expresses Apology to Loved One in Suicide Note. "Had a fruitful meeting with UK Foreign Secretary David Lammy today. We both ...Read More >
New Delhi [India], June 27 (ANI): Union Minister for Commerce and Industry Piyush Goyal held a stakeholder consultation meeting with representatives from the MSME sector to discuss the implementation of Quality Control Orders (QCOs). The meeting focused on making the standard-setting process more inclusive, collaborative, and easier for small businesses to comply with. In a social media post, the Minister shared that he appreciated the valuable feedback received from the MSME stakeholders. He stated, 'Held a stakeholder consultation meeting with the MSME sector to discuss the implementation ...Read More >
New Delhi: Trinamool Congress (TMC) MP Kalyan Banerjee submitted a written apology and issued a verbal apology in the Lok Sabha on Thursday following his controversial remarks about Union Minister Jyotiraditya Scindia. Lok Sabha Speaker Om Birla described the incident as unfortunate, emphasizing that no personal remarks should be made against fellow members. Speaker's Intervention As proceedings began, ruling alliance members raised concerns about Banerjee's remarks. Speaker Birla intervened, stating, "Whatever happened yesterday was unfortunate. No member should make personal remarks, parti ...Read More >
Patna (Bihar) [India], December 15 (ANI): Union Minister Rajiv Ranjan (Lallan) Singh on Sunday accused the Congress of insulting the Constitution since Independence and said Prime Minister Narendra Modi has spoken about this in his address to the Lok Sabha. Speaking to mediapersons, Rajiv Ranjan (Lalan) Singh said, "The Congress party has disrespected the Constitution since Independence and PM Modi showed them the mirror in Lok Sabha." On Saturday, Prime Minister Narendra Modi accused the Congress of constantly disrespecting the Constitution. Responding to the two-day discussion in Lok Sabh ...Read More >
Haridwar: A woman politician has been arrested for allegedly letting her boyfriend and others repeatedly rape her 13-year-old daughter in Haridwar, Uttarakhand. The horrifying crime, which occurred between January and March, was exposed when the minor bravely confided in her father, prompting a police investigation that led to the arrest of the accused. The accused was arrested with her boyfriend and one more. According to police reports, the minor was gang-raped multiple times, often in the presence of her mother. The minor, who had been living with her father following her parents' separat ...Read More >
Patna (Bihar) [India] June 6 (ANI): Congress MP and Leader of Opposition in Lok Sabha Rahul Gandhi attended the 'Samvidhan Sabha' in Rajgir, Nalanda, on Friday. Addressing the gathering, Gandhi emphasised the need for a caste census and criticised Prime Minister Narendra Modi's stance on the issue. He questioned PM Modi's claim of being an OBC while asserting that the BJP denies the existence of caste in India, emphasising the need for a genuine caste census. 'Narendra Modi used to say in every speech, I am OBC. Then, on the caste census, they say that there is no caste in India. If there is ...Read More >
New Delhi [India], June 7 (ANI): BJP leader Amit Malviya on Saturday hit out at Kolkata Mayor and Trinamool Congress (TMC) leader Firhad Hakim for making what he called a 'vile and disgraceful attack' on Prime Minister Narendra Modi over Operation Sindoor. He accused Hakim of calling the PM a 'coward' and dismissing his role in the operation. In a post on X, Malviya shared a video in which Hakim could be seen allegedly stating, 'There is nothing big about the Prime Minister here... But, for fear of a bigger country, he has locked up the Armed Forces as cowards.' Malviya further accused West ...Read More >
New Delhi [India], June 8 (ANI): Union Minister Piyush Goyal on Saturday described his meeting with UK Foreign Secretary David Lammy as 'fruitful' as they discussed avenues to deepen bilateral trade and strengthen collaboration across various sectors to 'unlock' the full potential of our Comprehensive Strategic Partnership. https://x.com/PiyushGoyal/status/1931405191758389633 'Had a fruitful meeting with UK Foreign Secretary David Lammy today. We both expressed our appreciation towards the work done in finalising the historic India-UK FTA, which is poised to give further boost to our growing ...Read More >
New Delhi: Congress MP and the Leader of Opposition (LoP) Rahul Gandhi on Monday made a rare praise for the 'Make In India' program, even commending the Prime Minister Narendra Modi for bringing in the 'good idea' but then went to disapprove it by calling it 'damp squib'. Speaking in the Lok Sabha during the Motion of Thanks on the President's address, Gandhi said 'Make in India' was conceptually good but the PM failed to deliver the results despite making a good effort. "Prime Minister proposed the Make In India program. I think it was a good idea, however the result is in front of you all, ...Read More >
New Delhi: Delhi govt has imposed a strict ban on direct purchases and cart-based procurement through the Government e-Market (GeM) portal for hospitals. The administration clarified that no healthcare facility or institution has the authority to make cart purchases or initiate bidding independently.The order emphasised that any non-compliance with these guidelines will face serious consequences, potentially leading to disciplinary or legal proceedings as determined by the relevant authority.The GeM portal, which commenced operations on Aug 9, 2016, functions as an online marketplace for centr ...Read More >
NEW DELHI: Former head of Air India and chairman of the Railway Board Ashwani Lohani is the new Prime Ministers Museum and Library (PMML) director. The official order for his appointment was issued on Wednesday. A 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), Lohani is known for turning around various organisations during his illustrious career. Following his retirement from IRSME service, he joined the GMR Group as the CEO. According to the order dated June 4, his appointment to the post of director, Prime Ministers Museum and Library in the rank and pa ...Read More >
Srinagar, June 7: Jammu and Kashmir Lieutenant Governor Manoj Sinha, on Saturday, congratulated the University of Kashmir for getting an A++ grade in the NAAC inspection. The Lt Governor extended his heartiest congratulations to the Vice Chancellor, faculty, staff, and students of the University of Kashmir for attaining the prestigious A++ Grade by the National Assessment and Accreditation Council (NAAC), and securing an outstanding Cumulative Grade Point Average (CGPA) of 3.68 on a seven-point scale. Calling it a proud moment for J&K UT, the Lt Governor said, "The A++ Grade places the Un ...Read More >
Chennai (Tamil Nadu) [India], June 9(ANI): Responding to Union Home Minister Amit Shah's speech in Tamil Nadu's Madurai, DMK leader TKS Elangovan claimed that the BJP is the 'main enemy' of the people of Tamil Nadu and will 'never accept' them. 'People of Tamil Nadu will never accept the BJP into the state because the BJP is their main enemy. They know the BJP is trying to kill development in Tamil Nadu. They (BJP) want to spoil the education system, which is number one in the country. In every area, the BJP government stands against the people of Tamil Nadu,' Elanvogan told ANI a day earlier ...Read More >
Chief Minister Mohan Yadav, campaigning to invite global investors to the Global Investors Summit to be held in Bhopal in February 2025, addressed an interactive session with industrialists during a roadshow in London, UK, on Tuesday. Yadav praised the dynamic leadership of Prime Minister Narendra Modi for the rapid industrial development seen across India. Inviting the industrialists to invest in Madhya Pradesh, he highlighted that the state possesses one of the largest land banks in the country. Madhya Pradesh has transparent and investor-friendly policies and is a leader in the mining and ...Read More >
Bengaluru: Ex-Karnataka Chief Minister and former External Affairs Minister SM Krishna died here early on Tuesday, leaving behind a rich legacy of statesmanship and public service that saw the 92-year-old leader scale all heights of political achievements. Suave, sophisticated and a man with enviable academic credentials, Somanahalli Mallaiah Krishna started off his political innings as an independent MLA from Maddur in 1962, stunning a then Congress veteran in the elections, and went on to become the state's CM and later the country's External Affairs Minister. Tributes poured in for the fo ...Read More >
Prime Minister Narendra Modi on Saturday said his government's policies and decisions were aimed at boosting India's strength and unity in line with the Constitution, while the opposition Congress had "tasted blood" by repeatedly wounding it.Prime Minister Narendra Modi on Saturday said his government's policies and decisions were aimed at boosting India's strength and unity in line with the Constitution, while the opposition Congress had "tasted blood" by repeatedly wounding it. Replying to a t ...Read More >
Chandigarh, Jan 2 (PTI) Punjab Chief Minister Bhagwant Mann on Thursday claimed that the Centre was trying to"bring back" the now-repealed farm laws, referring to the newly announced draft of the National Policy Framework on Agricultural Marketing. The AAP-led Punjab government has termed the newly announced draft policy as an attempt to reintroduce the three central agricultural laws passed in 2020 "through backdoor." After a yearlong protest by farmers, the Centre had repealed the laws. Speaking to reporters here, Mann also stated that the demands of the protesting farmers pertain to the c ...Read More >
Guwahati, June 5 (SocialNews.XYZ) Assam Chief Minister Himanta Biswa Sarma launched a blistering attack on Congress leader Rahul Gandhi on Thursday, calling out the LoP in Lok Sabha for the "audacity" of using surrender barb on Prime Minister Narendra Modi. The BJP leader's sharp response came in the wake of Rahul Gandhi's jibe amid ongoing political debates over national security and foreign policy, particularly following the recent success of Operation Sindoor. Taking to social media platform X, Sarma accused the Congress party of a long-standing legacy of compromising India's territorial ...Read More >
Guwahati, June 6 (UNI) Assam Chief Minister Himanta Biswa Sarma, while slamming Congress MP Rahul Gandhi for his 'surrender Modi' jibe, took his followers through a "reality check" as to which party and family surrendered India's interest and territory. "Rahul Gandhi has the audacity to mock the Prime Minister despite the massive success of OperationSindoor . Let's jog his memory as to which party and family has surrendered India's interest and territory, and backstabbed the people with their treachery," said the Assam Chief Minister on his X handle. "1947-48 - PoK Betrayal: It was Nehru who ...Read More >
Gurgaon: A chemist and a lab operator have been arrested for allegedly selling medical termination of pregnancy (MTP) kits illegally. Two separate FIRs were lodged against the accused at Sector 10 and Sector 9A police stations, police said on Friday.The pharmacy was sealed and medical officials have initiated proceedings to cancel its licence. District drugs control officer Suresh Verma said the department received information about illegal sales of MTP kits - also called abortion kits - from Juneja Chemist, located near Civil Hospital. A pregnant woman, who was deployed as a decoy customer, v ...Read More >
New Delhi [India], June 8 (ANI): UK Foreign Secretary David Lammy's visit to India provided a valuable opportunity to sustain the high-level engagement between the two countries and to further consolidate the India-UK Comprehensive Strategic Partnership, the Ministry of External Affairs noted in a statement on Saturday. As per the statement issued by the MEA, UK Foreign Secretary David Lammy paid an official visit to India on June 7. This was his second official visit to India in his capacity as UK Foreign Secretary. During the visit, UK Foreign Secretary called on Prime Minister Narendra Mod ...Read More >
New Delhi, Jan 14 (PTI) The National Turmeric Board will help develop new markets internationally to promote exports and double production to about 20 lakh tonnes in the next five years, Commerce and Industry Minister Piyush Goyal said on Tuesday. Inaugurating the Board, he also said that it would promote research and development into new products and develop on the country's traditional knowledge for value-added turmeric products. "Turmeric is also called as golden spice. India accounts for 70 per cent of global turmeric production... We are looking to double the production to 20 lakh tonne ...Read More >
Chennai: Chief minister M K Stalin said on Wednesday the BJP govt at the Centre delayed the census to 2027 only to undertake a delimitation exercise and reduce Tamil Nadu's representation in Parliament.Terming the move a 'betrayal,' Stalin alleged that by not opposing the BJP's plan to reduce TN's parliamentary representation, AIADMK general secretary Edappadi K Palaniswami has become an accomplice to the 'betrayal.' Stalin levelled the charge after the Centre announced that the census will comme ...Read More >
New Delhi, June 6: Indian and U.S. officials engaged in high-level trade negotiations here to arrive at an interim deal on tariff cuts, ahead of the July 9 deadline, have decided to extend their ongoing talks into next week, according to a senior official. India's negotiating team, headed by Additional Secretary Rajesh Agrawal, has held talks over two days with senior officials from the Office of the United States Trade Representative (USTR), who arrived in Delhi for weekend talks. "The two countries are actively engaged in focused discussions to facilitate greater market access, reduce tari ...Read More >