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, US talks are happening at different levels covering both trade and non-trade issues, an official said. Commerce and Industry Minister Piyush Goyal is in the US for trade talks. He is accompanied by senior officials of the ministry, including special secretary and India's chief negotiator Rajesh Agrawal. "Talks are happening at different levels," the official said, adding the minister-led team is expected to return from the US later this week. Goyal has held discussions with his US counterpart. This visit comes in the backdrop of recently concluded day-long discussions in New Delhi between US Chief Negotiator Brendan Lynch and Agrawal on the proposed bilateral trade agreement. On September 16, the commerce ministry stated that the day-long discussions with the visiting US team on a bilateral trade deal were positive, and both sides agreed to push for an early and mutually beneficial conclusion of the agreement. The visit of the high-ranking US trade officials came for the first time after the imposition of a 25 per cent tariff and an additional 25 per cent penalty on Indian goods entering the American market for buying Russian crude oil. In February this year, leaders of the two countries directed officials to negotiate a proposed Bilateral Trade Agreement (BTA). It was planned to conclude the first tranche of the pact by the fall (October-November) of 2025. So far, five rounds of negotiations have been held. The pact is aimed at more than doubling the bilateral trade to $500 billion by 2030 from the current $191 billion. Goyal visited Washington earlier in May for the trade talks. He held deliberations with US Commerce Secretary Howard Lutnick in Washington. The US remained India's largest trading partner for the fourth consecutive year in 2024-25, with bilateral trade valued at $131.84 billion ($86.5 billion exports). The US accounts for about 18 per cent of India's total goods exports, 6.22 per cent in imports, and 10.73 per cent in the country's total merchandise trade.
Mumbai, Jul 3 (PTI) Equity benchmark indices Sensex and Nifty climbed in initial trade on Thursday, mirroring a positive trend in Asian markets, amid optimism over India-US trade deal. The US-Vietnam trade deal also had a positive effect on the domestic equities, analysts said. The 30-share BSE Sensex climbed 242.83 points to 83,652.52 in early trade. The 50-share NSE Nifty went up by 83.65 points to 25,537.05. "US President Trump announced a trade deal reducing Vietnam's tariff to 20 per cent from 46 per cent, raising hopes that India's effective tariff rate may settle around 15-18 per cen ...Read More >
NEW DELHI: Trade talks between India and the US appear to be back on track, as President Donald Trump hinted that a "very big" agreement with India will be forthcoming soon. In a presser at the White House, Trump said, "Everybody wants to make a deal and have a part of it. Remember a few months ago, the press was saying, 'You really have anybody of any interest? Well, we just signed with China yesterday. We are having some great deals. We have one coming up, maybe with India. Very big one. Where we're going to open up India, in the China deal, we are starting to open up China.""We're not going ...Read More >
Jaipur: Police in Didwana have stepped up their probe into a cross-border smuggling case in which they arrested two arms and drug smugglers on June 27 for supplying Austrian Glock and Chinese Norinco pistols. It has emerged that the case has links to a massive Rs 300-crore heroin consignment seized by Punjab's Amritsar police near the India-Pakistan border in Barmer on June 30. Canada-based Joben Kaler was identified as the main overseas handler of the heroin consignment. Didwana-Kuchaman police had arrested Mohammad Ilyas from Khunkhuna and Amarjeet Singh Takhar, alias Prince, from Jalandhar ...Read More >
New Delhi: All city gas distribution (CGD) companies will now pay the same pipeline tariff regardless of their distance from the gas supply source, a measure that will help reduce transportation costs for licensees and potentially lower cooking and transport fuel prices in far-flung licensed areas. The Petroleum and Natural Gas Regulatory Board (PNGRB) has amended the Natural Gas Pipeline Tariff Regulations, introducing key reforms to the sector. These include streamlining unified tariff zones, allowing a single pipeline tariff for CGD companies, and creating a dedicated pipeline development ...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 >
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 (Reuters) -Trade talks between Indian and U.S. officials have been extended into next week as both sides seek consensus on tariff cuts in the farming and auto sectors, aiming to finalise an interim deal before a July 9 deadline, Indian government sources said. A U.S. delegation led by senior officials from the Office of the United States Trade Representative (USTR) held two days of discussions in New Delhi with Indian trade officials headed by chief negotiator Rajesh Agrawal, the sources said. "The two countries are actively engaged in focused discussions to facilitate greater mark ...Read More >
India is concerned with a U.S. Senator's proposal to slap a 500% tariff on goods imported in America from countries buying Russian oil, Indian External Affairs Minister S Jaishankar said, adding that the world's third-largest crude oil importer has conveyed these concerns to the U.S. lawmakers. Republican Senator Lindsey Graham has proposed a bill to impose a huge tariff on any country buying Russian oil. In an interview with ABC News this weekend, Senator Graham said that President Donald Trump appears to be on board for the bill to be moved forward. "If you're buying products from Russia ...Read More >
New Delhi, July 4 (SocialNews.XYZ) India's high-level official delegation, led by chief negotiator Rajesh Agrawal, has returned from Washington after the trade talks with US officials without reaching a final agreement on the sensitive issue of trade in agricultural and dairy products that the US is pushing for. However, there is still a glimmer of hope that an interim bilateral trade agreement may be reached at the highest political level in the two countries before the July 9 deadline for the 26 per cent hike in US tariffs on Indian exports to kick in. The Indian team was in Washington for ...Read More >
New Delhi, Jan 2 (PTI) Stakeholders from the electric vehicle (EV) sector will hold a meeting with Commerce and Industry Minister Piyush Goyal here on January 3 on issues, including infrastructure related to charging and battery swapping, sources said. They said that officials from the Department of Heavy Industries are expected to attend the meeting. Also Read | SOF NSO Results 2024-25 Out at sofworld.org: National Science Olympiad Exam Result Released, Get Direct Link and Know Steps To Download. Representatives from Tata, Mahindra, Mercedes-Benz India, Hero MotoCorp, and other companies h ...Read More >
MUMBAI, India -- India's central bank cut interest rates more than expected on Friday. For this, the Reserve Bank of India (RBI) cited muted inflation and a need to kickstart economic growth. This happened as the impact of US tariffs weighed on the country's outlook. The RBI lowered the benchmark repo rate, the level at which it lends to commercial banks. This went down by 50 basis points to 5.5 percent. A majority of analysts had expected a 25-basis-point reduction. The cut was RBI's third in a row. This comes a week after government data showed India's economy expanded at its slowest pace ...Read More >
Ahmedabad, June 27: Union Home Minister Amit Shah began his Gujarat visit on a spiritual note early Friday morning by participating in the Mangala Aarti at the historic Shri Jagannathji Temple in Jamalpur, Ahmedabad. The visit coincides with the auspicious occasion of the annual Shri Jagannath Rath Yatra, a major religious event that draws thousands of devotees every year. Arriving at the temple at 3:15 a.m., HM Shah joined in the sacred rituals and offered prayers to Mahaprabhu Jagannath. Sharing his experience on social media platform X, he posted, "On the sacred occasion of Rath Yatra, par ...Read More >
Mumbai: The rupee rose 22 paise to close at 85.50 against the greenback on Friday on the back of sustained inflow of foreign funds and firm domestic equity markets. Lower level of American currency index also favoured the Indian unit though an uptrend in crude oil prices capped its gain, forex traders said. Foreign institutional investors (FIIs) purchased equities worth Rs 1,397.02 crore on a net basis on Friday, according to exchange data. This inflow came on the heels of a net buying of equities worth Rs 12,594.38 crore on Thursday. At the interbank foreign exchange, the rupee opened at 8 ...Read More >
India and the US are in crucial trade talks. New Delhi is firm on its stance regarding market access in agriculture. This includes GM crops and dairy. India hopes for a deal before July 9. After July 9, reciprocal tariffs from the US will take effect. India will not compromise the interests of its farmers.The India-US trade pact talks are at a crucial stage with New Delhi sticking to the red line on the issue of market access in agriculture, genetically modified (GM) crops, and dairy, people privy to the development said. However, efforts are on to stitch the trade deal before July 9, when 26 ...Read More >
NEW DELHI: Signalling the government's intent to move ahead with the impeachment motion of Allahabad High Court judge Justice Yashwant Varma, Union Minister Kiren Rijiju on Thursday said that main opposition parties have given their in-principle approval to support the motion in the upcoming monsoon session scheduled for July21-August 21. Rijiju said that the government is yet to decide whether the motion would be brought in the Lok Sabha or the Rajya Sabha. For the Lok Sabha, signatures of a minimum 100 MPs is required. The requirement is the support of at least 50 MPs in the Rajya Sabha. H ...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 >
New Delhi [India], May 29 (ANI): After a federal court of the United States struck down a reciprocal tariff announced by US President Donald Trump, the Global Trade Research Initiative (GTRI) said that India should proceed cautiously in its ongoing Free Trade Agreement (FTA) negotiations with the US. A Manhattan-based federal court on May 28 struck down Trump's move to impose reciprocal tariffs on the trading partners of the US and ruled that he can't use emergency power to impose tariffs on foreign countries; it has to come from Congress. The order of the court determined that the tariffs, ...Read More >
New Delhi, Jun 30 (PTI) India has hardened its position on issues related to agriculture as negotiations with the US team in Washington have entered a crucial stage, an official said on Monday. The official also said that the stay of the Indian team, headed by special secretary in the department of commerce Rajesh Agrawal, is expected to be extended further. The team is in Washington for negotiations on an interim trade agreement with the US. Both sides are rushing to close a deal ahead of the July 9 deadline for the full implementation of a 26 per cent reciprocal tariff which has been suspe ...Read More >
Mumbai, Jul 1 (PTI) Equity benchmark indices Sensex and Nifty rebounded in early trade on Tuesday after falling in the previous trading session, amid a rally in global markets. Moreover, buying in blue-chip stocks -- Reliance Industries and HDFC Bank -- also added to the markets optimism during the initial trade. The 30-share BSE Sensex climbed 177.79 points to 83,784.25 in early trade. The 50-share NSE Nifty went up by 51.2 points to 25,568.25. From the Sensex firms, Asian Paints, Bharat Electronics, UltraTech Cement, Reliance Industries, HDFC Bank and HCL Tech were among the gainers. How ...Read More >
New Delhi: U.S. President Donald Trump has backed a new plan to strike hard at countries helping Russia's economy. He gave his nod to a Senate bill that proposes 500% tariffs on nations buying oil and goods from Russia. Senator Lindsey Graham, a longtime Trump ally, confirmed the move during an interview with ABC News. The bill targets India and China - the two biggest importers of Russian crude. Graham said both are fuelling what he called "Putin's war machine" by continuing trade with Moscow. According to him, India and China account for more than 70% of Russia's oil sales. The idea is sim ...Read More >
NEW DELHI: India will enter into a trade agreement with the US only if its interests are protected and it is able to sustain a tariff advantage over its competitors, while prioritising the interests of farmers, commerce and industry minister Piyush Goyal said Friday."India has never discussed any trade agreement or even a tranche of a trade agreement under any time pressure or under any duress. We have to take care of our national interests, we have to ensure that it's a fair deal which gives us a sustained preferential advantage over our competitors and if we get a good deal and we are able t ...Read More >
NEW DELHI, June 5 (Reuters) - Indian and U.S. are holding high-level talks this week, aiming to finalise tariff cuts in sectors such as farm and automobiles as part of an interim deal, two government sources said, with an announcement likely later this month. A U.S. delegation led by senior officials from the Office of the United States Trade Representative (USTR) began closed-door, two-day discussions in New Delhi on Thursday with Indian trade officials headed by chief negotiator Rajesh Agrawal ...Read More >
India must ensure any trade deal with the U.S. is fair, not politically driven, and protects its farmers, digital ecosystem, and regulatory sovereignty, the Global Trade Research Initiative (GTRI) said on Friday. With India's chief negotiator in Washington and a July 9 deadline approaching (marking the end of U.S. President Donald Trump's 90-day tariff suspension), a limited mini-deal appears likely.Any trade agreement with the US must not be politically driven or one-sided and India should protect its farmers, digital ecosystem, and policy space, economic think tank GTRI said on Friday. With ...Read More >
New Delhi [India], July 2 (ANI): India stock benchmarks continued to remain in the red after the latest rally, in what analysts attribute it as profit booking by investors. Besides, analysts opine uncertainties around extension in Trump reciprocal tariffs beyond July 9, and a India-US bilateral trade agreement weighed on the Indian stock indices this week. Today, the benchmark indices witnessed profit booking at higher levels, said Shrikant Chouhan, Head Equity Research, Kotak Securities The Nifty ended 88 points lower, while the Sensex closed 288 points lower. Among sectors, Metal index o ...Read More >
Mumbai (Maharashtra) [India], July 3 (ANI): India stock benchmarks extended declines on Thursday, weighed down by continued profit booking, following last week's sharp rally. At the end of the trading session, Nifty was down 48.10 points or 0.19 per cent at 25,405.30 and the BSE's Sensex was down by 170.22 points or 0.20 per cent, reaching 83,239.47. Also Read | The Nutritional Impact of Refined Cooking Oil Is Significant. "The domestic equity market continued to consolidate as profit booking followed last week's sharp rally," said Vinod Nair, Head of Research, Geojit Investments Limited. ...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 >
New Delhi: British Foreign Secretary David Lammy will pay a two-day visit to India beginning Saturday to review bilateral ties in areas of trade as well as defence and security. Lammy will hold wide-ranging talks with his Indian counterpart S Jaishankar, and is scheduled to call on Prime Minister Narendra Modi, officials said on Friday. The British foreign secretary will also meet Commerce Minister Piyush Goyal. Lammy's visit to New Delhi comes over a month after the two countries finalised an ambitious free trade agreement (FTA). It is learnt that his visit is also expected to focus on prepa ...Read More >
New Delhi, Jun 26 (PTI) Indian team, headed by chief negotiator Rajesh Agarwal, has reached Washington for the next round of trade talks with his US counterparts, an official said on Thursday. The visit is important as both the countries are engaged in negotiations for an interim trade deal and are trying to finalise the pact before July 9, though there are challenges in areas like agriculture and dairy. "The Indian team is in Washington for two-day trade talks," the official said. Agrawal is special secretary in the department of commerce. The high tariffs, announced by the US on April 2, ...Read More >
New Delhi, Jun 27 (PTI) With US President Donald Trump announcing that a "very big" trade deal is on the cards with India, the Congress on Friday took a swipe at the government and said it seems that India gets to know decisions of great importance to it from the White House. The opposition party's swipe at the government came after President Donald Trump said a "very big" trade deal is on the cards with India, hinting at significant progress in the negotiation process of a long-awaited bilateral trade agreement between the two countries. "We are having some great deals. We have one coming u ...Read More >
New Delhi, Jun 30 (PTI) Congress leader Jairam Ramesh on Monday said that government think-tank NITI Aayog has withdrawn a working paper on Indo-US Agriculture trade relations. The Aayog in a working paper, titled Promoting India-US Agricultural Trade Under the New US Trade Regime, had suggested that in the aftermath of 'reciprocal tariffs' by the US, India should adopt dual-track approach and selectively reduce high tariffs on non-sensitive agricultural commodities imports from Washington, while also strategically offer concessions where domestic supply gaps exist. "This was the NITI Aayog ...Read More >