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: A new Bilateral Investment Agreement, signed by Israel's Minister of Finance Bezalel Smotrich and India's Finance Minister will facilitate reciprocal investments between investors from both countries. Israel is the first OECD member state with which India has signed this strategic agreement, in accordance with India's new model for investment treaties. A delegation of senior officials from the Ministry of Finance, led by Minister Bezalel Smotrich, is currently visiting India to promote a range of economic collaborations between the two nations. At the center of the visit, today (Monday, September 8, 2025) in New Delhi, the Minister of Finance of the State of Israel, H. E. Bezalel Smotrich, and the Minister of Finance of the Republic of India, the Honorable Ms. Nirmala Sitharaman, signed a Bilateral Investment Agreement (BIA) aimed at strengthening the economic partnership between the countries. The new agreement supports the promotion of reciprocal investments between the parties, ensuring certainty and protection for investors, and will contribute to expanding trade and investment between the two countries. It replaces the previous agreement signed in 1996, which was terminated in 2017 as part of India's policy with reference to its investment treaties. Israel is the first OECD member state to sign an agreement under India's new investment treaty model. The agreement follows intensive work over recent months between the Chief Economist's teams at Israel's Ministry of Finance and their counterparts in India's Ministry of Finance. In their meeting, the ministers emphasized the profound economic relations between the two countries, which are based on shared strategic interests, as well as their commitment to advancing economic cooperation in the fields of innovation, infrastructure development, financial regulation, and trade in digital services. It was also agreed to cooperate within the framework of regional development banks. Minister Smotrich invited the Indian Finance Minister for a reciprocal visit to Israel. In addition, both sides agreed to jointly examine the establishment of a bilateral financial protocol between the governments, which would provide improved financing conditions for Israeli exporters. The Minister of Finance further noted that the possibility of opening a Ministry of Finance representation in India would be examined, with a view to strengthening ties with government and market stakeholders and promoting joint economic projects. At the conclusion of the meeting, the ministers instructed their teams to continue joint work on advancing all matters discussed. The delegation led by the Minister included senior officials from the Ministry of Finance and the Securities Authority : Director General Ilan Rom, Chief Economist Dr. Shmuel Abramzon, Accountant General Yahli Rothenberg and Chairman of the Israel Securities Authority, Seffy Zinger. During this visit the officials are holding working meetings with their counterparts with the aim of developing cooperation and links between the two economies. The Minister of Finance also extend his appreciation to the Embassy of Israel in New Delhi for its dedicated efforts and invaluable support in facilitating this important achievement. Their close cooperation and assistance were instrumental in making the signing of this agreement possible.
Mumbai: Even as mis-selling of insurance plans by banks has drawn scrutiny, the sector regulator doesn't want to manage distribution channels and seeks to focus on customer awareness to check the malpractice. "It's not necessary that every mis-selling is mis-selling, it's also about the customers' understanding of the product," said Swaminathan S Iyer, member (life), Insurance Regulatory and Development Authority of India on the sidelines of an event on Wednesday. "Once you drive home that your understanding is different from what the product is...then I think the absolute number on mis-selli ...Read More >
New Delhi, Jun 5 (PTI) Fintech firm BimaPay Finsure on Thursday said it has entered into corporate insurance financing and aims for Rs 20 crore in premiums in 2025-26. Launching the pilot phase with insurance partners, BimaPay said the initiative will allow businesses to pay premiums in easy equated monthly instalments (EMIs) instead of bearing the burden of full upfront costs. Also Read | Who Is Pinaki Misra? From Age to Family Background and Net Worth, Here's All About BJD Leader With Whom Mahua Moitra Reportedly Married. The company aims to finance over Rs 20 crore worth of premiums by t ...Read More >
New Delhi, July 7 (SocialNews.XYZ) Fintech companies should leverage their strengths and innovation by not only extending financial services to the masses but also to develop robust solutions against fraud, hacking, and other cyber threats -- making greater use of emerging technologies like artificial intelligence (AI), a top government official said on Monday. With the country's digital payments ecosystem rapidly maturing, its influence has begun to extend beyond national borders, reaching Global South, said Nagaraju Maddirala, Secretary, Department of Financial Services (DFS). Addressing t ...Read More >
NEW DELHI: BRICS is a vital platform for advancing inclusive multilateralism, especially when global institutions are facing a crisis of legitimacy and representation, FM Nirmala Sitharaman has said.Speaking at BRICS Finance Minister and Central Bank Governors (FMCBG) meeting in Rio de Janeiro, FM said India has demonstrated resilience through a combination of strong domestic demand, prudent macro management, and targeted fiscal measures.She emphasised that India's policy response to trade and financial restrictions has focused on diversifying markets, promoting infrastructure-led growth and i ...Read More >
SHILLONG, July 11: Union Finance Minister Nirmala Sitharaman on Friday highlighted the significant increase in central financial support to Meghalaya over the past decade, particularly in tax devolution. Speaking to the media here, Sitharaman stated that between 2014 and 2024, Meghalaya received Rs 48,883 crore in tax devolution -- a remarkable 572% increase from the Rs 7,273 crore it received during the previous decade (2004-2014). Similarly, grants-in-aid to the state more than doubled, rising from Rs 19,700 crore in 2004-2014 to Rs 40,452 crore in the 2014-2024 period. She emphasised tha ...Read More >
Mumbai: Two days ahead of the Maharashtra government formation, top sources have said that Eknath Shinde's Shiv Sena is likely to be allotted eight portfolios including the Urban Development Ministry. Sources also said that Ajit Pawar's NCP will retain the Finance Ministry. Sources have further said that there is no dispute between Shiv Sena and the BJP over the Chief Minister's which is yet to be revealed by the Mahayuti alliance. Meanwhile, reports are doing the rounds that Sena wants swearing in of its ministers on December 5 itself, along with oath taking of Chief Minister and Deputy Chie ...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 >
New Delhi: Maintaining the pace of India's growing economy, the country's gross goods and services tax or GST mop-up in June stood at Rs 1.85 lakh crore, marking a 6.2 per cent increase compared to the same month last year, while India's manufacturing sector activity rose to a 14-month high in June on the back of expansion in output, new orders, and job creation, two separate data showed on Tuesday. However, the finance ministry said that the government's focus on GST, which completes eighth year on Tuesday, is to promote ease of doing business, ensure stronger compliance and foster broader e ...Read More >
SHILLONG, July 11: Union Finance Minister Nirmala Sitharaman on Friday virtually laid the foundation for several key projects worth Rs 1,400 crore from the Lariti auditorium in Mawkasiang, New Shillong Township. The projects are aimed at accelerating infrastructure, economic growth and social welfare in Meghalaya. They include the redevelopment of Umiam Lake into a world-class sustainable tourism destination at an estimated cost of Rs 99.99 crore, alongside the development of MICE (Meetings, Incentives, Conferences, and Exhibitions) Infrastructure at Mawkhanu, also under Special Assistance t ...Read More >
Policy 3 min read Need to streamline policies to make India GCC hub: Official India aims to become a global hub for Global Capability Centres. Senior officials suggest streamlining national policies to emulate successful state models. Focus is on talent, infrastructure, and regulatory initiatives. The government plans a national framework to guide states in promoting GCCs in Tier II cities. Efforts are underway to boost employment and collaborate with global partners for workforce mobility. New ...Read More >
New Delhi, Jul 15 (PTI) The Indian economy is expected to grow at 6.5 per cent in the current financial year, despite geo-political tensions and trade policy uncertainties, Economic Advisory Council to the Prime Minister (EAC-PM) Chairman S Mahendra Dev said on Tuesday. In an interview with PTI, Dev further said that domestic growth will be driven by low inflation, resulting from good monsoon and benign interest rate regime, triggered by three back-to-back rate cuts by the Reserve Bank of India. "There are significant global headwinds like the twin shocks of geo-political tensions and trade ...Read More >
Bengaluru: Fugitive liquor baron Vijay Mallya approached the Karnataka High Court on Wednesday seeking direction to banks to provide details of the total amount recovered against loans obtained by him, United Breweries Holdings Limited (UBHL, now in liquidation). Considering the plea, the High Court has issued notices to concerned banks in this regard. The bench headed by Justice R. Devadas passed the order issuing notices to banks, and recovery officers and adjourned the matter till February 19. Senior counsel Sajan Poovayya appearing for Vijay Mallya submitted to the court that the loan a ...Read More >
New Delhi, December 4: In a significant move to enhance customer experience and protect citizens, the Lok Sabha on Wednesday passed the Banking Laws (Amendment) Bill, 2024, which allows bank account holders to have up to four nominees in their accounts. The higher number of nominees aims to reduce unclaimed deposits in banks. Finance Minister Nirmala Sitharaman said that depositors will have the option of successive or simultaneous nomination facility, while locker holders will have only successive nominations. Another sweeping change relates to redefining 'substantial interest' for directors ...Read More >
Kargil , Jul 2: Pursuant to putting in place a comprehensive legal framework to ensure fair, inclusive, and transparent recruitment to public services, the Administration of the Union Territory of Ladakh has initiated a large-scale recruitment drive for 359 Gazetted posts through the Union Public Service Commission (UPSC). This marks the first-ever recruitment of Gazetted posts through UPSC since the formation of the Union Territory, officials said. This follows the establishment of a unique and dedicated legal framework specifically designed for Ladakh. The framework ensures maximum local re ...Read More >
Shillong, July 11: Union Finance Minister Nirmala Sitharaman on Friday announced that 92 border villages in Meghalaya have been identified for inclusion under Phase II of the Vibrant Villages Programme (VVP), reinforcing the Centre's commitment to ensuring "safe, secure, and vibrant" land borders. Addressing a press conference, Sitharaman explained that while the first phase of the programme focused on western border villages near Pakistan, the second phase targets villages along India's borders with Bangladesh, Myanmar, Tibet, China, Nepal, and others. As part of this programme, she said, t ...Read More >
Russia's nuclear doctrine has been updated to affirm its nuclear umbrella for primarily the six member states of the Collective Security Treaty Organization (CSTO), including an explicit focus on Belarus. The announcement followed a joint meeting of the CSTO's Council of Foreign Ministers, Council of Defense Ministers, and Committee of Security Council Secretaries held in Astana. According to the state news agency TASS, Russian Security Council Secretary Sergei Shoigu highlighted the revisions, emphasizing Moscow's commitment to protecting its allies under the CSTO. The CSTO, formed in 2002 ...Read More >
HYDERABAD: Refuting the allegations of the Opposition BRS that the Congress government failed to stop the Andhra Pradesh government's proposed Godavari-Banakacherla project, Irrigation Minister N Uttam Kumar Reddy on Friday declared that "we are ready for any kind of fight" against AP's project. Speaking to reporters here, Uttam said that the state government has already written letters to Jal Shakti Minister CR Patil and Union Finance Minister Nirmala Sitharaman opposing the project. "After our representation, Union Minister CR Patil in a letter assured us that the G-B project will be exami ...Read More >
New Delhi: India's manufacturing sector activity rose to a 14-month high in June on the back of expansions in output, new orders, and job creation, a private survey showed on Monday. The HSBC India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 58.4 in June, up from 57.6 in May from 58.2 in April and 58.1 in March. India's manufacturing PMI was 56.3 in February and 57.7 in January. A reading above 50 indicates expansion. To be sure, the headline figure was above its long-run average of 54.1, which suggests a substantial improvement in the sector's health. " ...Read More >
Chennai: Preliminary investigations attribute the fire on the goods train near Tiruvallur to a possible spark from overhead electrical equipment (OHE) igniting fuel leaking from a derailed wagon.The incident paralysed services on the busy Chennai-Arakkonam route and left nearby residents engulfed in thick black smoke. The disruption left thousands of rail passengers stranded, many of whom were unable to get updates as railway helplines went unanswered for hours. The train carrying diesel from Chennai Harbour to Walajah Road Siding was exiting Tiruvallur station around 5.30am on Sunday, when a ...Read More >
A crucial round of negotiations on a global plastic pollution treaty has begun in Busan, South Korea. Led by Norway and Rwanda, 66 countries and the EU are pushing for a legally binding agreement to control plastic production, consumption, and waste management. However, key points of contention include limits on plastic production and the ban of single-use plastics. With plastic production set to rise 70% by 2040, negotiators aim to protect human health and the environment while promoting recycling, reducing harmful chemicals, and supporting sustainable plastic practices. Industry leaders and ...Read More >
NEW DELHI, Dec 13 (Reuters) - India should do more to tax its super-rich given its high levels of inequality, French economist and author Thomas Piketty said on Friday. The writer of the best-selling book "Capital in the 21st Century" called on India to follow through on a July pledge by finance ministers from the Group of 20 major economies to cooperate on effectively taxing the world's largest fortunes. "India should be active in taxing the rich," Piketty said at an event organised by Delhi-b ...Read More >
New Delhi, Jun 7 (PTI) RBI Deputy Governor T Rabi Sankar has been appointed as a part-time member of the 16th Finance Commission, the finance ministry said on Saturday. The appointment, the ministry said, is consequent to the resignation of one of the full-time members, former finance secretary Ajay Narayan Jha, on personal grounds. "The President has appointed T Rabi Sankar, Deputy Governor, Reserve Bank of India (RBI), as a part-time Member of the 16th Finance Commission (XVIFC)," the ministry said in a statement. Sankar will hold office from the date of assuming charge until the submissi ...Read More >
New Delhi [India], June 30 (ANI): States and Union Territories combined will raise about Rs 2.86 lakh crore from markets in the quarter July-September 2025, the Reserve Bank of India (RBI) has indicated. The expected market borrowing plans have been decided upon by the RBI after consulting with the State Governments/Union Territories. On July 1, Rs 18,100 crore is proposed to be borrowed - Andhra Pradesh (Rs 2,000 crore), Assam (Rs 900 crore), Gujarat (Rs 1,000 crore), Himachal Pradesh (Rs 1,200 crore), Kerala (Rs 2,000 crore), Maharashtra (Rs 6,000 crore), Rajasthan (Rs 500 crore), Tamil Na ...Read More >
SHILLONG, July 10: Union Finance Minister Nirmala Sitharaman on Thursday inaugurated Shillong's first modern shopping mall at Polo. A host of dignitaries, including Chief Minister Conrad K Sangma, Deputy Chief Minister Sniawbhalang Dhar, Health Minister Ampareen Lyngdoh, Chief Secretary DP Wahlang, Commissioner and Secretary, Vijay Kumar D, and Urban Affairs Director PK Boro, were present at the inauguration. The Polo shopping mall was developed under the Shillong Smart City project and constructed by Badri Rai Company at a cost of Rs 100.33 crore. The mall has a total built-up area of 1.70 ...Read More >
SHILLONG, July 12: Union Finance Minister Nirmala Sitharaman has lauded the progress made in Meghalaya's health sector, particularly highlighting the significant decline in the Maternal Mortality Rate as a strong indicator of real, on-ground transformation. During her visit to Laitkynsew village in East Khasi Hills, the Union minister interacted with women from Self-Help Groups (SHGs), Lakhpati Didis, and members of Farmer Producer Organisations (FPOs). She underscored the vital role that SHGs have played in driving grassroots change. Expressing deep appreciation for the Meghalaya government ...Read More >
New Delhi [India], May 19 (ANI): Indian economy is expected to grow at 6.9 per cent in the January-March quarter 2025, the official data for which is scheduled to be released on May 30 by the National Statistics Office, according to rating agency ICRA. ICRA has projected the year-on-year expansion of the GDP to rise to 6.9 per cent in Q4 2024-25 from 6.2 per cent in Q3 2024-25, while significantly undershooting the National Statistical Office's (NSO) implicit estimate of 7.6 per cent for the quarter. Also Read | Operation Sindoor: Shah Rukh Khan Maintains Radio Silence on India-Pakistan Tens ...Read More >
New Delhi: The second match of the five-match Test series between India and England will be played at Edgbaston in Birmingham. It will start on July 2. In this Test, Shubman Gill has a chance to create history. Actually, the Indian team has not been able to win on this ground so far. Team India played the first match on this ground in 1967. Be it Virat Kohli or Dhoni or Dravid or Sourav Ganguly, no Indian captain has won here in 58 years. However, Gill will have a chance to get his name registered in the history books. If he manages to end the drought of 58 years, he will become the first Indi ...Read More >
New Delhi [India], July 12 (ANI): Union Minister for Coal and Mines G Kishan Reddy on Saturday said that the Central Government has decided to begin the production of rare earth magnets in Hyderabad, as part of its broader push for self-reliance in critical technologies. Speaking to ANI, the minister said, "The Central Government has decided to produce rare earth magnets in Hyderabad. Our Mining Ministry's NFTSM institute is working diligently, along with various industries, to manufacture the necessary machinery." Also Read | PM Narendra Modi Highlights Government's Focus on Generating Empl ...Read More >
Union Finance Minister Nirmala Sitharaman concluded her visit to Meghalaya by celebrating cultural heritage and infrastructure development. She praised Ramakrishna Mission's educational and women's empowerment efforts in Sohra, interacted with communities preserving ecological practices at Siej Village, and inaugurated development projects in Shillong, underscoring Meghalaya's commitment to sustainable progress. On the final day of her visit to Meghalaya, Union Finance Minister Nirmala Sitharama ...Read More >
A young woman named Oleti Pushpa (22) was killed by her live-in partner Sheikh Shamma (22) in the Ambedkar Konaseema region of Andhra Pradesh, reported India Today. She was living with Sheikh for the past 6 months after she separated from her spouse. The incident took place in Siddhartha Nagar, B Savaram village of Rajolu mandal on 16th July. Shamma reportedly accused Pushpa of having affairs with other men. He forced her to engage in prostitution and frequently instigated fights with her when intoxicated. As per police, Shamma was addicted to ganja. On the fateful night, he against pressuri ...Read More >