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.
Khargone (Madhya Pradesh): Heavy rainfall in Madhya Pradesh's Khargone district has turned into a disaster for farmers and cotton factory owners. The unexpected downpour damaged crops in fields and destroyed stored cotton worth crores of rupees. Torrential rain hit Kasrawad Road on Saturday, flooding cotton ginning units. A viral video shows hundreds of quintals of cotton being washed away by strong water currents. The floodwater swept through the ginning factories, carrying cotton heaps like lightweight straws. Check out the video below: Multiple ginning facilities suffered massive losses. KK Fibers on Kasrawad Road, Kisan Ginning on Temla Road and factories on Julwania Road reported extensive damage. Cotton stored in open areas got completely soaked. Pritesh Agarwal, who operates KK Fibers Ginning, said sudden heavy rain started Sunday afternoon. Within thirty minutes, the entire premises flooded. Around 700 quintals of cotton stored at his factory became wet. He estimates losses exceeding one crore rupees. Workers had covered cotton with tarpaulin sheets during light rain on Saturday. However, the protective covering proved useless when intense rain poured down Sunday. The downpour felt like a cloudburst, Agarwal claimed. Cotton arrivals at markets have been unusually high this season. Factories stored large quantities in open spaces for drying before processing. This practice backfired when unexpected rain struck. Farmers face dual problems. Standing cotton crops are rotting in fields due to continuous rain. Ready cotton cannot be picked because laborers are unavailable and markets have stopped buying. Blooming cotton is falling from plants and turning black after getting soaked. This damaged cotton will sell at much lower prices, adding to farmer distress.
New Delhi, Dec 4 (PTI) "On the face of it you are a corrupt person. Crores of rupees were recovered from your premises," the Supreme Court on Wednesday told former West Bengal minister Partha Chatterjee, held in an alleged cash-for-job scam in the state. A bench of Justices Surya Kant and Ujjal Bhuyan, which reserved its verdict on the bail plea of Chatterjee, questioned the enforcement directorate (ED) over his continued incarceration saying he cannot be kept inside for an indefinite period. "On the face of it you are a corrupt person. Crores of Rupees were recovered from your premises. Wha ...Read More >
Jammu, June 29 (UNI) The Enforcement Directorate Jammu has attached the immovable properties worth crores in the case of Patnitop Development Authority (PDA) under the PMLA, 2002. "Enforcement Directorate, Jammu has provisionally attached several immovable properties worth Rs. 15.78 Crore (approx.) on 27.06.2025 in the case of Patnitop Development Authority (PDA) under the PMLA, 2002," Enforcement Directorate posted on X. It further posted, "The provisionally attached properties comprises land, building and Income generated from running of Hotel Pine Heritage, Hotel Dream Land and Hotel Shah ...Read More >
CHENNAI: The Water Resources Department (WRD) has commenced flood mitigation works to address waterlogging in the southern parts of Chennai. This is part of the 12 integrated flood mitigation projects for which the department received approval from the State government. These projects, which were announced in the State budget, would alleviate flooding in Chennai, Tiruvallur, and Kanchipuram districts, said a statement, adding that the government has allocated Rs 338 crore for the projects for 2025-26 financial year. In the first phase of the work that was launched on Monday by Water Resource ...Read More >
Bengaluru Power Cuts: Citizens of Bengaluru brace yourself for long hours of power outages from June 29 and June 30. More than 100 areas will be impacted as BESCOM undertakes its quarterly maintenance work in various of its division. Bengaluru Power Outages June 29: According to the update by BESCOM on its X handler, there will be power outages in Kittaganahalli, Palasandra, Saptagiri, Maruthinagar, Sankapur, Raghavendra Nagar, Goolarivee, Baddihalli, Kesaramadu, C.M Badawan, Kalalli and SKS village on June 29 from 10 am to 5 pm. BESCOM's executive engineer has appealed to consumers to coop ...Read More >
NEW DELHI: The anti-corruption branch (ACB) of the Delhi government has arrested two individuals, including a suspended executive engineer and a private contractor, for allegedly siphoning off over Rs 4.6 crore meant for civil works that were never carried out in the Irrigation and Flood Control (I&FC) Department, officials said on Monday. They said the scam involved the release of payments for nonexistent roads and drains in Siraspur village in north Delhi and painting works in Burari, based on forged documents and manipulated test records. ACB's Joint Commissioner Madhur Verma said the fra ...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 >
Mumbai, Jul 2 (PTI) Opposition in the Maharashtra legislative assembly twice staged a walk-out on Wednesday over the issues of farmer suicides and non-payment to soybean cultivators whose crop was procured by government agencies. More than 700 farmers have ended their lives in the state in the first three months of this year, claimed Congress leader Vijay Wadettiwar as he moved an adjournment motion seeking a discussion on the issue. Speaking on the notice for adjournment, he questioned the BJP-led government's priorities, citing the sanctioning of Rs 20,000 crore for the Shaktipeeth express ...Read More >
Amritsar: BJP MP Nishikant Dubey from Jharkhand has claimed that Britain assisted India in executing the 1984 Operation Bluestar at the Golden Temple in Amritsar, stoking a new controversy.In a post on X on Monday, Dubey alleged that then PM Indira Gandhi "launched an attack on the Golden Temple in collaboration with Britain", with British Army officers present in Amritsar.He uploaded a classified British document, "Sikh Community", claiming that on Feb 23, 1984, the UK Foreign and Commonwealth Office mentioned in a letter that the Indian govt had sought British advice over a plan to remove Si ...Read More >
Mumbai: The rupee rose 22 paise to 85.72 against the US dollar in early trade on the back of fall in global crude oil prices and a weaker greenback. FII inflows and a positive domestic equity market further boosted the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 85.75 against the US dollar before rising further to 85.72, up 22 paise against its previous close. The local unit logged a steep fall of 54 paise to settle at 85.94 against the US dollar on Monday. "The rupee recovered towards closing yesterday (Monday) after falling due to heavy d ...Read More >
New Delhi: Three Indian citizens vanished mysteriously in Tehran. Darkness closed in as hope seemed lost. A ruthless Pakistani gang with potential links to ISI snatched them away, casting a shadow of fear. But relentless Indian diplomats refused to back down. Against all odds, a daring rescue mission ignited. Now, the captives are free, and a chilling game of espionage comes to light. The Punjab-based trio - Amritpal Singh from Hoshiarpur, Jaspal Singh from SBS Nagar and Hushnapreet Singh from Sangrur - had landed in Iran on May 1. Promised a clandestine route to Australia via Dubai and Tehra ...Read More >
New Delhi [India], July 7 (ANI): Noting that at least five banks have waived the minimum balance requirement after customers 'hit back' by looking beyond banks at other avenues to place their savings, Congress leader P Chidambaram on Monday said 'what reason could not do, economics has achieved'. In a post on X, Chidambaram, a former Finance Minister, said savings account holders have complained to banks against the government-introduced rule of 'minimum balance' in the account and that some banks earned hundreds of crores of rupees a year 'under this obnoxious rule'. He said the banks had b ...Read More >
Hubballi: Chief minister Siddaramaiah and deputy chief minister DK Shivakumar have forgotten the people and the state in their tug-of-war for the CM's chair, said Haveri MP Basavaraj Bommai.On Tuesday, Bommai told reporters that they have been spending all their time protecting their positions. "The poor and farmers are suffering immensely. On one hand, there are floods; on the other, heart attack cases are rising. Even though every department is in disarray, this govt behaves as if it's dead. The public is regretting bringing this govt to power and are now cursing it," he said. "The govt comm ...Read More >
HYDERABAD: The 2025 Bathukamma festival is set to be celebrated with increased fervour in Hyderabad this September, as rejuvenation works at Bathukamma Kunta in Bagh Amberpet near completion. For the first time in years, women from surrounding areas will be able to celebrate the nine-day festival at the lake, which had previously been rendered unusable due to encroachments and pollution. HYDRAA, with support from the Hyderabad Metropolitan Development Authority (HMDA), began restoration of the 14.02-acre lake in February this year at an estimated cost of Rs 9.8 crore. Minor works are underway ...Read More >
Mumbai: The rupee declined 14 paise and touched the crucial 86.00-mark (provisional) for the first time against the US dollar Friday as it failed to resist pressure from a stronger American currency and huge outflow of foreign funds. Surging crude oil prices overseas and negative sentiment in domestic equity markets also weighed down the Indian currency, forex traders said. Also, dollar strengthened on increased demand amid the anticipation of restrictive trade measures by the new US administration after Donald Trump takes over as president January 20. At the interbank foreign exchange, the ...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 >
Mumbai, Jul 1 (PTI) Rupee appreciated 17 paise to close at 85.59 against the US dollar on Tuesday, supported by weakness of the American currency in the overseas market and a positive tone in the domestic equities amid rise in risk appetite. Forex traders said the US dollar is trading at lowest levels since February 2022 as President Donald Trump's growing influence on Federal Reserve policy revived fears over the central bank's independence. Moreover, Brent crude prices remained subdued, offering a buffer to India's import bill and helping cool inflation. At the interbank foreign exchange, ...Read More >
Lucknow: Chief Minister Yogi Adityanath on Sunday announced to plant over 37 crore saplings on July 9 to bolster PM Modi's 'Ek Ped Maa Ke Naam' initiative, stressing that "a sapling we nurture today will sustain our lives tomorrow"."If we plant flowering trees on the roads' median and give the responsibility of protecting them to NGOs or other organisations, it will give out a good message. We have to do it on expressways, highways, interstate connectivity or municipality roads... I appeal to everyone to join the campaign on July 9 from 7 am to 7 pm, and take a selfie after planting a tree," t ...Read More >
The new circle rates in Gurugram have come into effect from December 1 Gurugram: People eyeing a home in Gurugram will now have to pay more as the district administration has hiked the circle rates by 10% to 30%, driven mainly by demand. Luxury residential areas like Golf Course Road are likely to see a 30% hike in circle rates. According to reports, the new circle rates have come into effect from December 1 and will be applicable at least till March 31 next year. The price hike, however, has irked the residents, who alleged that the administration should also "improve basic amenities". Gu ...Read More >
New Delhi, Dec 13 (PTI) The Supreme Court on Friday granted conditional future bail to former West Bengal minister Partha Chatterjee in a money laundering case related to the cash-for-job scam. A bench of Justices Surya Kant and Ujjal Bhuyan said that Chatterjee shall be released on February 1, 2025 subject to the trial court framing charges before the winter vacation and examination of vulnerable witnesses by the second and third week of January 2025. The top court said upon his release Chatterjee shall not hold any public office but can continue as MLA. The bench said that a suspect canno ...Read More >
Bengaluru: Karnataka BJP has slammed the Congress-led government in the state over the flood and waterlogging situation in Bengaluru, saying that the city's reputation has suffered at the global level. The Leader of Opposition (LoP) in the Legislative Assembly, R. Ashoka, in a statement on Monday, demanded that the government immediately release Rs 1,000 crore for relief operations following the rain-induced disaster in Bengaluru. On Sunday night, rainfall ranging from 103 to 130 mm caused havoc across the city, said Ashoka and urged the government to swiftly undertake relief operations and ...Read More >
Kolkata, June 28: A political slugfest has erupted in West Bengal after a woman accused Padma Shree awardee monk Kartik Maharaj, who is posted with the Murshidabad unit of Bharat Sevashram Sangha, of allegedly raping her 12 times for six months in 2013. As per the police complaint lodged by the woman, Kartik Maharaj raped her multiple times 12 years ago promising her a job at a local school. The ruling Trinamool Congress is highlighting the issue in a major way and accusing the BJP of being silent on it since the accused monk had been reportedly close to the saffron party. The woman accusin ...Read More >
Mumbai, Dec 17 (PTI) The rupee consolidated in a narrow range and settled for the day higher by 1 paisa at 84.90 (provisional) against the US dollar on Tuesday, weighed down by disappointing trade balance data and weak domestic markets. Forex traders said the rupee is likely to remain under pressure due to concerns over slowdown in the economy and dollar demand from importers and foreign banks. At the interbank foreign exchange, the rupee opened at 84.89 and touched an all-time low of 84.93 against the greenback during intra-day trade. The unit finally ended the session marginally higher by ...Read More >
Hyderabad: With the early onset of pre-monsoon showers, farmers across Telangana have started their agricultural activities ahead of schedule. However, the agriculture department is facing strong criticism for failing to provide adequate fertilizers and seeds necessary for the current season. According to officials, there is a significant shortfall in the availability of essential inputs like urea and cotton seeds, which may negatively impact crop planning and productivity across the state. Also Read: Madhuri Dixit Recalls 'Hum Aapke Hain Koun' Magic with Salman Khan as Monsoon Arrives For ...Read More >
New Delhi, Dec 3 (PTI) Third-party logistics provider Shadowfax Technologies on Tuesday said it has recorded an adjusted PAT (profit after tax) of Rs 2 crore in FY24, against a loss of Rs 123.8 crore in the preceding fiscal. Adjusted PAT includes costs related to Employee Stock Ownership Plans (ESOPs). Revenue grew 33 per cent from Rs 1,415 crore in FY23 to Rs 1,885 crore in FY24, according to a company statement. The Bengaluru-headquartered firm said it has "significantly diversified" its revenue streams and a major contributions now come from value-added services (VAS). "These services i ...Read More >
Mumbai: The rupee slumped to its all-time low of 84.76 (provisional) against the US dollar after dropping 8 paise on Wednesday amid a strengthening greenback and increase in crude prices. Forex traders said a positive trend in domestic equity markets and foreign fund inflows supported the local unit at lower level. At the interbank currency exchange, the rupee opened at 84.66 and traded in the range of 84.65-84.76. Eventually it settled at 84.76 (provisional), 8 paise lower than Tuesday's close of 84.68. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said, the rupee lost initial ...Read More >
Bhubaneswar: Chief minister Mohan Charan Majhi on Thursday announced an ambitious plan of planting 7.5 crore saplings across the state within a year. Speaking at the state-level celebration of World Environment Day at the OUAT Agriculture Education Hall in city, the CM emphasised the importance of public awareness and collective responsibility in protecting nature and ending plastic pollution. "A healthy environment is essential for a healthy society," he said.Addressing the rising threat of single-use plastic, the CM urged citizens to support a mass movement to eliminate plastic from daily li ...Read More >
The Delhi government's anti-corruption branch (ACB) has arrested a suspended executive engineer and a private contractor for defrauding the Irrigation and Flood Control (I&FC) Department of Rs 4.6 crore fraud, an official said on Monday. The two accused allegedly facilitated fraudulent payments worth over Rs 4.6 crore for civil works that were never executed. The irregularities relate to drainage and road projects in a north Delhi village, Siraspur, which were found to exist only on paper. "Th ...Read More >
Ujjain (Madhya Pradesh): Marking the Cooperatives Year, a two-day national seminar will be inaugurated on Friday at the Swarn Jayanti Auditorium of Vikram University. Farmers from five major states: Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh, and Goa are set to participate in the seminar, 'Dairy Development in Madhya Pradesh: Possibilities and Challenges', under the joint aegis of the Indian Dairy Association (DA) West Zone, and Vikram University (VU). Researchers, students, milk producers from across the country, where over two lakh cooperative societies function, along with experts ...Read More >
Bilaspur (Himachal Pradesh) [India], July 5 (ANI): Union Minister of Health and Family welfare, and Bharatiya Janata Party president Jagat Prakash Nadda chaired a high level meeting here today to review the status and progress of Government of India's initiatives to transform road connectivity in Himachal Pradesh through accelerated development of National Highways and tunnel infrastructure. Sources said that Union Minister Nadda presided over a detailed presentation by senior officials of MoRTH, during which the status, challenges, and future plans for the development of road infrastructure ...Read More >
Mumbai, Jul 8 (PTI) The rupee rose 22 paise to 85.72 against the US dollar in early trade on the back of fall in global crude oil prices and a weaker greenback. FII inflows and a positive domestic equity market further boosted the local unit, according to forex traders. Also Read | US-Based Indian Family of 4 Members From Hyderabad Killed As Speeding Mini Truck Collides With Car in Dallas. At the interbank foreign exchange, the rupee opened at 85.75 against the US dollar before rising further to 85.72, up 22 paise against its previous close. The local unit logged a steep fall of 54 paise to ...Read More >