Abtak Logo

Business News

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.

15
BusinessSep 26, 2025 06:04 PM

India News | Shimla Patients Get Relief as New GST Reforms Reduce Medicine Prices by Up to 10 Per Cent

Shimla (Himachal Pradesh) [India], September 26 (ANI): The Pharmaceutical companies and chemists in Shimla have begun implementing the revised GST night tariff on medicines, bringing much-needed relief to patients and the poor. Managers and pharmacy owners in the capital confirmed that the new reforms, effective as of September 22, have already reduced the prices of many essential and life-saving medications. Mahesh Bisht, Manager at a pharmaceutical company, explained the changes, "From September 22, the new GST reforms and tariffs have come into effect. Items that were earlier under the 12% GST slab have now been reduced by 6.25% from the Maximum Retail Price (MRP). Similarly, in the 18% category, medicines are seeing a reduction of around 11.2%. Some items remain unchanged at 18%, but overall, patients are getting a benefit of about 6.2%." Also Read | Sonam Wangchuk Arrested: Police Take Climate Activist in Custody After 4 Killed in Violent Protest in Ladakh. He added, "For example, if an item costs ₹100, consumers are saving ₹6.20 directly. We started executing this from the morning of September 22, and so far there have been no difficulties," Bisht told ANI. Chemists in the Lower Bazar area have also welcomed the move. Mukul Sood, a pharmacy shop owner, said. "We have implemented this across all retailers and dealers. On average, consumers will save about 10%. This is a commendable decision by the government, especially during the festive season. It will not only bring relief to people but also increase GST compliance." Also Read | Petrol Fraud in Karnal: BMW Owner Catches Staff Billing 76.70 Litres for 70-Litre Tank, Nearly 20-Litre Shortfall Exposed in Checking. Sood added, "With lower rates, consumption is expected to rise, and government collections will eventually increase. Earlier, medicines were taxed in four slabs 12%, 18%, 5%, and 0%. Now, the 12% slab has been scrapped completely; most medicines are taxed at 5%, while insulin and many life-saving drugs are exempt from tax. Expensive drugs like cancer medicines have also become tax-free. Patients will see major benefits." Patients themselves confirmed the impact. Vijay, a consumer purchasing medicines, shared his experience, "Because of the new GST implementation, I am getting medicines at much cheaper rates. For example, a medicine that used to cost me ₹400 is now available at ₹356. This is a huge relief. The reforms have already started benefiting patients, and we are hopeful this will continue," Vijay said. Ashish Chandel, another representative from a pharmaceutical company in Lower Bazar, said his firm had also begun implementing the government's directives from September 22. "Most medicines that were taxed at 12% or 18% are now under the 5% slab, except a few cosmetics. For old stock, we are selling at a discount of 6.25% from the MRP. While we are awaiting clarity on the government's input credit, we have already started executing the orders at the all-India level. Consumers are getting significant relief, especially on branded medicines that were earlier very costly. Prices have effectively dropped from 18% to 5%, and customers are noticing the difference immediately," Chandel said. The changes are expected to substantially reduce the burden on patients in Himachal Pradesh, particularly those requiring costly and long-term medication. Experts say this reform could transform affordability and also improve compliance in the pharmaceutical sector. (ANI)

Comments

Similar News

31
1
BusinessDec 02, 2024 03:40 PM

Business News | Green Ambitions Take Centre Stage as IVCA GreenReturns Summit 2024 Commences in New Delhi | LatestLY

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 >

25
TechnologyDec 04, 2024 04:21 PM

OPPO Find X8 Series Goes on Sale: Price, Launch Offers, Specs and 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 >

39
OtherNov 26, 2024 12:23 PM

India's Pharmaceutical Prowess: Leading the Global Generic Drug Market | Business

India's pharmaceutical industry, valued at $50 billion, is booming as a global leader in generic drugs. With significant exports to 200+ countries, India meets a substantial portion of global demand for affordable medicine. Challenges include regulatory hurdles and quality assurance, as the nation aims to expand its generic drug market. The Indian pharmaceutical industry, currently valued at $50 billion, is playing an increasingly crucial role on the global stage. Renowned as the 'pharmacy of the world,' India's pharma sector is a major exporter, supplying essential generic drugs to over 200 ...Read More >

22
SportsNov 26, 2024 01:53 PM

Mumbai Indians owner Akash Ambani talks about who the team retained and left, see the list here

Mumbai Indians (MI) made strategic moves in the IPL 2025 mega-auction, securing New Zealand pacer Trent Boult for ₹12.50 crore. MI owner Akash Ambani praised Boult’s invaluable skill in swinging the new ball, acknowledging the team’s struggles when he wasn’t playing for them in recent years. The franchise also acquired England’s Reece Topley for ₹75 lakh and New Zealand spinner Mitchell Santner for ₹2 crore. MI further strengthened their spin department by signing young Afghan talent Allah Ghazanfar for ₹4.80 crore, who has impressed with his performances in international cricket. ...Read More >

32
PoliticsNov 28, 2024 08:28 PM

'This Was The First Time Women Felt Valued Beyond Their Votes': Aditi Tatkare

In this edition of Frontline Conversations, former Maharashtra Women and Child Development Minister Aditi Tatkare discusses how the Ladki Bahin scheme, which provided direct cash transfers to 2.35 crore women, transformed both the economic landscape and political dynamics of the State. The programme, which distributed Rs.7,500 across five instalments to women earning less than Rs. 2.5 lakh annually, not only empowered women with financial independence but also proved to be a decisive factor in Mahayuti's electoral victory, marking a shift in Maharashtra's traditionally male-dominated political ...Read More >

39
PoliticsDec 03, 2024 11:13 PM

BJD, Congress MLAs stage walkout from Odisha assembly over price rise of essential commodities - OrissaPOST

Bhubaneswar: Opposition BJD and Congress MLAs Tuesday staged a walkout from the Odisha assembly, accusing the ruling BJP of failing to control prices of essential commodities and resolve the potato crisis in the state. The issues were debated in the House over the admissibility of an adjournment motion moved by the Opposition on price rise of vegetables, pulses, edible oil and fuel. The opposition members took exception to comments made by Food Supplies and Consumer Welfare Minister K C Patra that adverse climate conditions, rates in international and domestic markets, and less production by ...Read More >

22
BusinessDec 04, 2024 06:06 PM

CBI conducts searches in Delhi-NCR in cyber fraud case involving financial scams worth Rs 117 cr

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 >

36
PoliticsDec 05, 2024 01:39 PM

J&K Police seize vehicles of drug peddler in Srinagar

Srinagar: Continuing their efforts to combat the drug menace, the Jammu and Kashmir Police on Thursday seized two vehicles of peddlers in Srinagar city. A police statement said, "Continuing its efforts to eradicate the menace of drugs from the society, police in Srinagar have seized two vehicles acquired through proceeds of illegal narcotics trade. Srinagar Police have seized two vehicles, a Corolla bearing registration number DL4CNE 6086 and a BMW bearing registration number JK01AF-0047 in case FIR No. 36/2024 u/s 8/21 NDPS Act of Police Station Chanapora from the accused person namely Muda ...Read More >

38
PoliticsDec 11, 2024 10:57 AM

Delhi polls: Arvind Kejriwal promises Rs 10 lakh insurance and more to auto drivers

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 >

30
PoliticsDec 10, 2024 05:11 PM

Lalu Yadav Passes Sexist Remark On Nitish Kumar's Women Rally: 'Only To Ogle At...' - News18

Lalu Yadav was reacting to Nitish Kumar's plans to launch the Mahila Samwad Yatra, an initiative aimed at directly engaging with women in Bihar. RJD chief Lalu Prasad Yadav on Tuesday stoked controversy after passing a sexist remark at Nitish Kumar's upcoming women's rally, saying that the Bihar Chief Minister was attending it to "ogle at women." Yadav was reacting to Kumar's plans to launch the Mahila Samwad Yatra, an initiative aimed at directly engaging with women in Bihar. "Nain sekne ja ra ...Read More >

23
BusinessNov 26, 2024 01:54 PM

Business News | Presto Group to Host Asia's First Quality Conclave on 30th November 2024 | LatestLY

India Quality Conclave 2024: Driving Excellence in Quality Management Presto Group proudly presents the India Quality Conclave 2024, set to take place on November 30 at Crowne Plaza, New Delhi. This transformative event will bring together industry leaders from packaging, FMCG, pharmaceuticals, and other sectors to discuss cutting-edge quality improvement practices. Key highlights include strategies for cost reduction, boosting QC team productivity, and ensuring hassle-free audits. Attendees will benefit from keynote speeches, case studies, panel discussions, and a special book launch, Per ...Read More >

29
BusinessDec 02, 2024 03:41 PM

India's growth may dip below 7% for the first time in four years, economists say

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 >

21
PoliticsDec 03, 2024 05:52 PM

Partap Singh Bajwa slams BJP over farmer issues, urges peaceful protests

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 >

19
HealthDec 03, 2024 10:26 PM

DCA Raids Clinic Operated By Quack In Hyderabad

Hyderabad, Dec 3 (Maxim News): The inspecting teams of Drugs Control Administration (DCA), Telangana State raided a healthcare facility operated by a quack Banothu Srinu and seized illegally stocked drugs meant for sale at Beerappagadda, Uppal Khalsa village, medical-Malkajgiri district. Click Here To Join Us On WhatsApp Banothu Srinu was practicing medicine without proper MBBS qualification at his healthcare facility named Anjali Clinic. During the course of the raid, the DCA teams seized 17 varieties of medicines worth Rs. 20,500 including antibiotics, steroids, antifungal drugs, analgesic ...Read More >

26
HealthNov 26, 2024 01:29 PM

This drug has become top seller as Delhi's air quality worsens

Severe air pollution in northern India has led to a surge in demand for respiratory medications, with Foracort becoming India’s top-selling drug in October. The inhaler, used to treat asthma and COPD, recorded Rs 75 crore in sales, surpassing popular medicines like Augmentin and Glycomet-GP. Manufactured by Cipla, Foracort combines budesonide and formoterol for effective dual-action therapy. Other respiratory drugs, Duolin and Budecort, also saw increased sales. With Delhi’s Air Quality Index reaching hazardous levels, the rise in respiratory issues underscores the urgent need for better healt ...Read More >

33
BusinessDec 02, 2024 03:43 PM

EM stocks rise on Chinese manufacturing boost; Indian rupee hits record low

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 >

18
BusinessDec 03, 2024 03:00 PM

Ganesh Infraworld IPO Day 3: Check GMP, price band, subscription and key dates

Given the strong subscription response, Ganesh Infraworld's latest GMP stands at Rs 73, indicating an upside potential of 88% above the upper price band.The SME initial public offering (IPO) of Ganesh Infraworld received a strong response from investors with an overall subscription of 103.2 times by 12:19 pm on the final day of the bidding process. The IPO will close on December 3. The company aims to raise Rs 98.6 crore through the SME IPO, which is a fresh equity sale of 1.18 crore shares, and list the shares on the NSE SME platform. The net proceeds from the public offer will be used for ...Read More >

29
PoliticsBusinessDec 03, 2024 11:11 PM

India News | Mizoram: Assam Rifles with Excise and Narcotics Department Seize Heroin Worth Rs 15 Lakhs | LatestLY

Champhai (Mizoram) [India], December 3 (ANI): Assam Rifles, in collaboration with the Excise and Narcotics Department, recovered 22 grams of Heroin No. 4 worth Rs 15.40 lakh and apprehended a woman in the Zote area of Champhai district on Monday. The operation, based on specific intelligence, led to the discovery of the contraband hidden inside the woman's clothing bag. The suspect, identified as 40-year-old Tlangmawii, along with the seized consignment, has been handed over to the Excise and Narcotics Department, Champhai, for further legal proceedings. Also Read | Rahul Gandhi To Visit Sam ...Read More >

37
BusinessDec 03, 2024 10:50 PM

Mizoram: Assam Rifles with Excise and Narcotics Department seize Heroin worth Rs 15 lakhs

Champhai (Mizoram) [India], December 3 (ANI): Assam Rifles, in collaboration with the Excise and Narcotics Department, recovered 22 grams of Heroin No. 4 worth Rs 15.40 lakh and apprehended a woman in the Zote area of Champhai district on Monday. The operation, based on specific intelligence, led to the discovery of the contraband hidden inside the woman's clothing bag. The suspect, identified as 40-year-old Tlangmawii, along with the seized consignment, has been handed over to the Excise and Narcotics Department, Champhai, for further legal proceedings. In a separate operation aimed at coun ...Read More >

28
BusinessDec 04, 2024 04:10 PM

India News | ED Seizes Rs 1.36 Cr in Crypto, Rs 47 Lakh Cash in Cyber Fraud Case | LatestLY

New Delhi [India], December 4 (ANI): The Enforcement Directorate (ED) seized cryptocurrency worth Rs 1.36 crore (USDT) from private wallets, along with unexplained cash amounting to Rs 47 lakh, during an investigation into a major money laundering case. The case pertains to cyber fraud involving illegal proceeds of approximately Rs 640 crore, generated through betting, gambling, part-time job scams, and phishing operations. The ED also recovered various incriminating documents linked to the fraud during its crackdown. Also Read | Banking Laws (Amendment) Bill, 2024 Set To Boost Consumer Expe ...Read More >

20
PoliticsDec 10, 2024 05:11 PM

Delhi BJP posts video of Arvind Kejriwal's '7-star Sheesh Mahal', calls him 'Delhi ka millionaire'

The Delhi BJP also shared a rap song "Delhi ka millionaire" alleging corruption against the party's top leadership. In a recently-released video, the Delhi BJP has given a tour of the luxurious bungalow of AAP leader Arvind Kejriwal, where he lived while serving as the Chief Minister of the state. The party also shared a rap song "Delhi ka millionaire" alleging corruption against the party's top leadership. Delhi BJP chief Virendra Sachdeva, who shared the video on X, called the Civil Lines bu ...Read More >

31
BusinessNov 29, 2024 10:46 AM

Kidnapped as 7 year-old, UP man returns home after 30 years

In a miraculous turn of events, a seven-year-old boy who was kidnapped from Uttar Pradesh's Ghaziabad district more than 30 years ago has reunited with his family. IMAGE: Raju was kidnapped when he was seven-year-old from Uttar Pradesh's Ghaziabad district. Photograph: ANI Now 38, Raju shared his ordeal and said that after being abducted in September 1993, he was handed over to a truck driver who took him to Jaisalmer in Rajasthan. "The kidnappers kept me in a room located in the middle of a barren area, where I was forced to take care of sheep and goats. Each night, I was chained and locke ...Read More >

26
BusinessNov 29, 2024 10:41 AM

S. Korea's bio-health exports up 22.5 pc in Q3

Seoul: South Korea's exports of bio-health products jumped 22.5 per cent in the third quarter from a year earlier, data showed on Friday, driven by growing demand for pharmaceutical goods in European nations. According to the Korea Health Industry Development Institute, outbound shipments of bio-health products, including pharmaceutical goods and cosmetics, amounted to $6.34 billion in the July-September period, compared with $5.17 billion recorded over the same period in 2023, Yonhap news agency. By sector, exports of pharmaceutical products jumped 43.5 per cent on-year to $2.38 billion, le ...Read More >

36
BusinessDec 02, 2024 03:41 PM

Business News | 'Good Buy 2024': Dosti Realty's Call to Make Your Homeownership Dreams Come True | LatestLY

Mumbai (Maharashtra) [India], December 2: Dosti Realty, a leading brand in the real estate sector recognised for delivering exceptional residential experiences and premium lifestyle projects across the Mumbai Metropolitan Region has announced the "Good Buy 2024" campaign for aspiring homeowners. An ideal way to bid farewell to the year, the Dosti Realty campaign is designed to resonate with the spirit of the year-end, inspiring homebuyers to make meaningful investments that shape their future. Also Read | Farmers Protest: Massive Congestion at Delhi-Noida Border as Police Set Up Barricades Ah ...Read More >

26
PoliticsDec 03, 2024 06:35 PM

Karnataka govt asks DCGI to probe Ringer Lactate firm after maternal deaths

Bengaluru, Dec 3 (PTI) The Karnataka government on Tuesday requested the Drugs Controller General of India (DCGI) to investigate and take necessary action against a West Bengal-based manufacturer, amid concerns that recent maternal deaths in Ballari district, could be linked to substandard Ringer Lactate solution supplied by the company. In a letter, Karnataka Health Principal Secretary Harsh Gupta, drew the attention of the DCGI to the supply of several batches of "Compound Sodium Lactate I P (Ringer's Lactate I P)" by the West Bengal-based pharmaceutical company Paschim Banga Pharmaceutical ...Read More >

23
BusinessDec 03, 2024 06:07 PM

Business News | Oilfields (Regulation and Development) Amendment Bill, 2024 Passed in Rajya Sabha | LatestLY

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 >

15
BusinessNov 26, 2024 02:44 PM

Stock jumps 3% after FPI bought stake worth ₹167 Cr in the company via bulk deal

During Tuesday's trading session, the shares of a global leader in glass-lined equipment surged nearly 3 percent to Rs. 1,247.5 on BSE, after a foreign portfolio investor (FPI) bought shares worth a total of around Rs. 167.4 crores in the company via a bulk deal. With a market capitalisation of Rs. 5,524 crores, at 02:19 p.m., the shares of GMM Pfaudler Limited were trading in the green at Rs. 1,228.7, up by nearly 1.4 percent, as compared to its previous closing price of Rs. 1,211.3. As per the latest block deal available with the NSE, foreign portfolio investor Amansa Holdings Private Limi ...Read More >

20
BusinessDec 02, 2024 03:44 PM

Trump's tariff threat to BRICS nations may end up backfiring

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 >

17
BusinessDec 03, 2024 06:39 PM

Food Complaints in India: 533 Consumer Complaints Registered Under Food and Beverages Category in Last Two Years, Says Government | 📰 LatestLY

New Delhi, December 3: About 533 consumer complaints have been registered under the food and beverages category in the consumer commissions during the last two years, said the government on Tuesday. In a written reply in the Rajya Sabha, BL Verma, Union Minister of State for Consumer Affairs, Food and Public Distribution, said that Uttar Pradesh registered the highest number of complaints (112), followed by Rajasthan (88), Haryana (57) and Kerala (51). Assam had three complaints -- the lowest --, while Chandigarh and Uttarakhand had four each. Verma informed that the Food Safety and Standards ...Read More >

15
BusinessDec 03, 2024 06:24 PM

Danfoss to accelerate local manufacturing capabilities of heating, ventilation, AC compressors

Chennai, Dec 3 (PTI) Danfoss, a leader in heating, ventilation, air-conditioning and compressors has set a target to progressively ramp up local manufacturing capabilities over the next five years, supporting the Centre's Make in India campaign, the company said on Tuesday. Danfoss India, a subsidiary of Denmark-based Danfoss, earlier this year committed to a Rs 500 crore investment aimed at developing local manufacturing for HVAC (Heating, Ventilation, and Air-conditioning), and refrigeration compressors and controls. As the country's heating, ventilation, air-conditioning, and refrigeratio ...Read More >