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.
The Union Ministry of Communications has announced a sweeping overhaul of India's postal services, officially designating Speed Post as the primary accountable mail service nationwide. This major rationalisation, notified by the Department of Posts, is set to take effect on October 1, marking a significant shift in how important documents and parcels are sent across the country. Under the revised framework, the traditional Registered Post service, a cornerstone of secure communication for over f
New Delhi, Nov 26: A day after the Cabinet Committee on Economic Affairs approved the PAN 2.0, the Income Tax Department on Tuesday issued a detailed clarification on the project based on a list of 11 frequently asked questions (FAQs) to provide taxpayers with a deeper insight into the new system. 1. What is PAN 2.0? PAN 2.0 Project is an e-Governance project of the Income Tax Department for re-engineering the business processes of taxpayer registration services. The objective of the project is to enhance the quality of PAN services through the adoption of the latest technology. Under this pr ...Read More >
Mumbai, Feb 10: The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but eventually settled at 87.45, up 5 paise, following RBI intervention. The American currency gained in the overseas market after US President Donald Trump's plans to impose 25 per cent tariffs on steel and aluminum imports, along with reciprocal tariffs targeting countries taxing US exports. The move has added jitters over the global trade war with China's reciprocal duties coming into effect, they said. At the interban ...Read More >
"He was earlier apprehended by the Central Bureau of Investigation in connection with another fraud case and is currently in judicial custody. "The case was initially registered in January 2017 based on a complaint from a private bank," Deputy Commissioner of Police (Economic Offences Wing) Vikram K. Porwal said in a statement. The bank had alleged that 467 fake Foreign Inward Remittance Certificates (FIRCs) were submitted by 18 account holders - belonging to 17 different firms - at its Naraina ...Read More >
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 >
Gujarat Urja Vikas Nigam (GUVNL) has issued a request for selection for procuring power from 500 MW solar projects on a build, own, operate basis. The tender includes a greenshoe option for an additional capacity of up to 500 MW, increasing the potential total to 1,000 MW. Bids must be submitted by June 13, 2025. Bids will be opened on June 18. Bidders must furnish an earnest money deposit of ₹928,000 (~$10,895)/MW, a tender document fee of ₹25,000 (~$293.50) plus 18% GST, and a tender processing fee of ₹300,000 (~$3,522) plus 18% GST. Successful bidders must submit a performance bank guara ...Read More >
New Delhi, June 6 (SocialNews.XYZ) Top bankers on Friday hailed the Reserve Bank's decision to reduce repo rate by 50 basis points to 5.50 per cent and cash reserve ratio (CRR) by 100 basis points in four tranches, saying the policy move is expected to provide the necessary drive for credit expansion in priority sectors which will enhance the financial inclusion. Besides this, the revision in CPI inflation to 3.7 per cent for FY26 also shows the RBI's confidence in inflation being aligned with its 4 per cent target. "The decision in CRR cut, which is expected to release Rs 2.5 lakh crore in ...Read More >
Hyderabad: BRS senior leader T Harish Rao on Thursday urged Chairman of the Securities and Exchange Board of India (SEBI) to order an urgent investigation into serious irregularities and potential violations of SEBI regulations by the Telangana State Industrial Infrastructure Corporation (TGIIC) and the Government of Telangana. The BRS leader wrote a detailed letter to the SEBI Chairman. In the letter, Harish Rao raised strong objections over the mortgaging of 400 acres of land in the Kancha-Gachibowli region, land which has been flagged by a Supreme Court-appointed Empowered Committee as 'fo ...Read More >
day after the Cabinet Committee on Economic Affairs approved the PAN 2.0, the Income Tax Department on Tuesday issued a detailed clarification on the project based on a list of 11 frequently asked questions (FAQs) to provide taxpayers with a deeper insight into the new system. PAN 2.0 Project is an e-Governance project of the Income Tax Department for re-engineering the business processes of taxpayer registration services. The objective of the project is to enhance the quality of PAN services through the adoption of the latest technology. Under this project, ITD is consolidating all processes ...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 >
New Delhi [India], June 26 (ANI): The Directorate of Revenue Intelligence (DRI) seized 39 containers carrying 1,115 metric tonnes of Pakistani goods valued at approximately Rs 9 crore at the Nhava Sheva Port in Navi Mumbai, officials said. In an operation codenamed "Operation Deep Manifest", the illegal import of Pakistani-origin goods routed through third countries, primarily via Dubai, UAE, has been busted, the Ministry of Finance said in a statement Thursday. Also Read | 'Dreamer and Disciplined': School Teachers Recall Fond Memories of Shubhanshu Shukla As Astronaut Becomes First Indian ...Read More >
New Delhi, Jun 26 (PTI) In a significant enforcement action, the Directorate of Revenue Intelligence (DRI) has seized goods worth Rs 9 crore under 'Operation Deep Manifest', targeting illegal imports of Pakistani-origin goods routed through Dubai. The operation has thus far led to the seizure of 39 containers carrying 1,115 metric tonnes of goods in blatant violation of import policy conditions and prohibitions imposed by the government on direct or indirect import or transit of Pakistani-origin goods, the finance ministry said in a statement on Thursday. One of the partners of an importing ...Read More >
Lucknow (Uttar Pradesh) [India], June 28 (ANI): Chief Minister Yogi Adityanath paid tribute to philanthropist and businessman Bhamashah on his birth anniversary and conferred the Bhamashah Samman to leading traders and businesspersons from across the state who have significantly contributed to Uttar Pradesh's economy by consistently paying high revenue taxes. Speaking on the occasion, he underscored the importance of recognising the business community's role and said, "... Not only in Lucknow but in all districts of the nation, businessmen paying high GST should be facilitated on this day. Bu ...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 >
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 >
New Delhi, Jun 2 (PTI) Global automobile makers including Mercedes Benz, Skoda-Volkswagen, Hyundai and Kia have shown interest in manufacturing electric cars in India, Union Heavy Industries Minister H D Kumaraswamy said on Monday. The said companies have expressed interest during the stakeholder discussions between the government and the industry regarding the 'Scheme to Promote Manufacturing of Electric Passenger Cars in India', the detailed guidelines for which were unveiled by the minister. While the scheme was notified on March 15 last year, its guidelines were issued on Monday. Offici ...Read More >
Srinagar, Jun 7 (PTI) Authorities on Saturday barred Eid prayers from taking place at the Eidgah ground and the Jama Masjid in the old city here, while Hurriyat Conference chairman Mirwaiz Umar Farooq claimed that he was put under house arrest. "Anjuman Auqaf Jama Masjid Srinagar deeply regrets to inform that the authorities have once again disallowed Eid-ul-Adha prayers at the Eidgah as well as at the historic Jama Masjid in Srinagar by closing the gates of the mosque and deploying police personnel outside," the management of the historic mosque said in a statement. ...Read More >
New Delhi, Jun 26: In a significant enforcement action, the Directorate of Revenue Intelligence (DRI) has seized goods worth Rs 9 crore under 'Operation Deep Manifest', targeting illegal imports of Pakistani-origin goods routed through Dubai. The operation has thus far led to the seizure of 39 containers carrying 1,115 metric tonnes of goods in blatant violation of import policy conditions and prohibitions imposed by the government on direct or indirect import or transit of Pakistani-origin goods, the finance ministry said in a statement on Thursday. One of the partners of an importing firm ...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 >
VIJAYAWADA: The State government on Friday accorded approvals to a slew of industries. Among those are Krishnapatnam Power Corporation Limited (KPCL), which is set to establish a 350 MW Solar and Battery Energy Storage System (BESS) in Thamminapatnam and Mommidi villages of SPSR Nellore district with a Rs 1,225 crore investment, creating 575 jobs. Furthermore, the government also waived off a Rs 54 crore extension of time fee, contingent on project completion within two years as per the Andhra Pradesh Integrated Clean Energy Policy-2024. The government also allocated 22.80 acres at MPSEZ in N ...Read More >
New Delhi [India], May 2 : The gross GST collection in April 2023 is an all-time high of Rs ... New Delhi [India], May 2 : The gross GST collection in April 2023 is an all-time high of Rs 1,87,035 crore, Rs 19,495 crore more than the next highest collection of Rs 1,67,540 crore in April 2022. GST revenues for April 2023 are 12 per cent higher than the GST revenues year-on-year. The highest tax collected on a single day ever was Rs 68,228 crore through 9. 8 lakh transactions on April 20, 2023 Of the GST revenue collected in April, CGST is Rs 38,440 crore, SGST is Rs 47,412 crore, IGST is Rs ...Read More >
Lucknow: In the latest of several successive attacks on the opposition over caste politics, Chief Minister Yogi Adityanath on Saturday accused them of resorting to caste divisions for political survival.He said those who "once bowed before the mafia are now trying to divide society along caste lines" and reiterated "batoge toh katoge, ek rahoge toh nek rahoge".Speaking at an event in Lucknow on the eve of the birth anniversary of Bhamashah, a 16th-century philanthropist who aided Maharana Pratap in his fight against the Mughals, also celebrated by the UP govt as Vyapari Kalyan Diwas, the CM ur ...Read More >
Lucknow: Chief Minister Yogi Adityanath on Saturday directed officials to act against shell companies and fake firms that are deriving undue benefits against the rules.He said that such acts were an attempt to misuse the facilities meant for genuine traders and the matter should be dealt with seriously.The CM, while conducting a high-level review of the state tax department, directed officials to ensure transparency in tax collection and adopt a policy of technological efficiency and strict enforcement. Calling the act of such companies 'unforgivable', Yogi said, "Tax evasion is a national cri ...Read More >
New Delhi: The pan-India mythological drama 'Kannappa', starring Vishnu Manchu and featuring cameos by Akshay Kumar, Mohanlal, Prabhas, and Kajal Aggarwal, hit cinemas on June 27, 2025. Despite its star-studded cast and grand production, the film has seen a slow start at the box office. According to early estimates from Sacnilk, 'Kannappa' earned ₹9 crore net in India on its first day of release. Although this marks Vishnu Manchu's biggest opener, it falls short of expectations considering the film's massive budget of ₹200 crore and the presence of big-name stars. The film saw varying occupa ...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 >
MUMBAI: The Directorate of Revenue Intelligence (DRI) has seized 39 cargo containers with 1,115 metric tonnes of dry dates of Pakistani origin, estimated to be worth ₹9 crore. The containers, seized at the Nhava Sheva port, were imported via Dubai to circumvent the ban on the import of Pakistani goods, imposed after the April 22 attack in Pahalgam, said DRI officials. The Mumbai-based partner of the firm which imported the dates was arrested on Thursday, the officials added. On May 2, the Directorate General of Foreign Trade (DGFT) said in a notification that a provision was added in the Fore ...Read More >
Gukesh Dommaraju is welcomed home upon his arrival at the Chennai International Airport on December 16 after his win at the FIDE World Chess Championship in Singapore. Gukesh Dommaraju returned home to jubilant scenes at Chennai International Airport on Monday having become the youngest ever chess world champion last week. The 18-year-old beat defending champion Ding Liren 7.5-6.5 in their best-of-14 final in Singapore on Thursday after the Chinese player blundered in the final game. Draped in ...Read More >
New Delhi: The GST Council will soon decide on having fewer and lower rates as the review work is almost complete, Finance Minister Nirmala Sitharaman said on Tuesday. Currently, Goods and Services Tax (GST) is a four-tier tax structure with slabs at 5, 12, 18 and 28 per cent. Luxury and demerit goods are taxed at the highest bracket of 28 per cent, while packed food and essential items are in the lowest 5 per cent slab. The Council, chaired by Sitharaman and comprising her state counterparts, has set up a group of ministers (GoM) to suggest changes in GST rates as well as reduce slabs. "To ...Read More >
New Delhi, May 23 (PTI) GMR Airports saw its consolidated loss widen to Rs 253 crore in the three months ended March 2025 even as total income rose during the same period. The company had a loss of Rs 168 crore in the year-ago period. The figures are after tax for continuing operations. According to a regulatory filing on Friday, GMR Airports' total income climbed to Rs 2,977 crore in the fourth quarter of 2024-25 financial year from Rs 2,570 crore in the year-ago period. For the 2024-25 fiscal, the company's loss narrowed to Rs 817 crore from Rs 829 crore in the same period a year ago. D ...Read More >
New Delhi, June 7 (PTI) The Director General of GST Intelligence has closed pre-show cause notice proceedings against Infosys for financial years 2018-19 to 2021-22, involving a GST amount of Rs 32,403 crore, the company said in a statutory filing. With the receipt of the communication from DGGI, "this matter stands closed", India's second-largest IT company Infosys said. "In continuation to our earlier communications on July 31, 2024; August 1, 2024, and August 3, 2024, on GST, this is to inform that the company has today received a communication from the Director General of GST Intelligenc ...Read More >
Mumbai: The coming week is expected to be pivotal for the Indian stock markets as key economic triggers line up, including domestic inflation data, updates on US tariffs, and global economic indicators. The government will release India's inflation data on June 12, a crucial factor that significantly influences overall economic sentiment and market behaviour. In April, retail inflation stood at 3.16 per cent. Any deviation from expectations in the upcoming data could sway market trends. On the global front, any developments regarding US trade tariffs will also be closely watched, as they have ...Read More >