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, Jan 14 (PTI) The National Turmeric Board will help develop new markets internationally to promote exports and double production to about 20 lakh tonnes in the next five years, Commerce and Industry Minister Piyush Goyal said on Tuesday. Inaugurating the Board, he also said that it would promote research and development into new products and develop on the country's traditional knowledge for value-added turmeric products. "Turmeric is also called as golden spice. India accounts for 70 per cent of global turmeric production... We are looking to double the production to 20 lakh tonnes in five years," he told reporters here. The government in October notified the constitution of the National Turmeric Board. Hailing the establishment of the Board, Prime Minister Narendra Modi said it would ensure better opportunities for innovation, global promotion and value addition in turmeric production. Responding to a post on X by Goyal, Modi said: "The establishment of the National Turmeric Board is a matter of immense joy, particularly for our hardworking turmeric farmers across India. This will ensure better opportunities for innovation, global promotion and value addition in turmeric production. It will strengthen the supply chains, benefiting both farmers and consumers alike. It will focus on the development and growth of turmeric and turmeric products in the country. India is the largest producer, consumer and exporter of turmeric in the world. In the year 2022-23, an area of 3.24 lakh hectares was under turmeric cultivation in India with a production of 11.61 lakh tonnes. More than 30 varieties of turmeric are grown in India and it is grown in over 20 states in the country. The largest producing states of turmeric are Maharashtra, Telangana, Karnataka and Tamil Nadu. India has more than 62 per cent share of world trade in turmeric. During 2022-23, 1.534 lakh tonnes of turmeric and turmeric products valued at USD 207.45 million were exported by more than 380 exporters. The leading export markets for Indian turmeric are Bangladesh, UAE, the US and Malaysia. With the focused activities of the Board, it is expected that turmeric exports will reach USD 1 billion by 2030, according to the Commerce Ministry. India is the largest producer, consumer and exporter of turmeric in the world. During 2023-24, 1.62 lakh tonnes of turmeric and turmeric products valued at USD 226.5 million were exported. Palle Ganga Reddy has been nominated as the board's first chairperson and its headquarters has been set up at Nizamabad, Telangana. In addition to the Chairperson of the Board, representatives of the Ministry of AYUSH, Department of Pharmaceuticals, Department of Agriculture & Farmers Welfare and Department of Commerce have also been nominated. Representatives from the top two turmeric-growing states -- Maharashtra and Telangana -- and from Meghalaya, which is famous for its Lakadong turmeric, will also be part of the Board. Minister of State for Home Affairs Bandi Sanjay Kumar, and Arvind Dharmapuri, Member of Parliament, Nizamabad were also present at the event. PTI RR RR SHW
Mr. Rana's daughter-in-law, Sumbul Rana, had contested the Meerapur Assembly by-election as a Samajwadi Party candidate but was defeated by BJP's Mithlesh Pal Former Member of Parliament Kadir Rana was granted bail in two separate cases of alleged violation of the Model Code of Conduct during the Meerapur Assembly by-election, his lawyer said. Mr. Rana appeared before the Special MP/MLA Court in Muzaffarnagar on Wednesday (November 27, 2024) where the presiding officer, Devender Singh Fauzdar, approved his bail plea after he furnished a surety bond of ₹25,000 for each case. Mr. Rana, along ...Read More >
Lucknow, December 3: Chief Minister Yogi Adityanath, on Tuesday, emphasized that Prime Minister Narendra Modi's emphasis on using the term "Divyang" and respecting their sentiments has inspired persons with disabilities to advance in life and various fields with dignity. He highlighted that whenever Divyangjans have been given opportunities, they have consistently demonstrated their exceptional talents and abilities. Speaking at a state-level award ceremony at Lok Bhavan on International Day of Persons with Disabilities, the Chief Minister celebrated the achievements of Divyangjans and reaffi ...Read More >
Ahmedabad, Dec 4 (VOICE) A grand celebration of BAPS volunteer services is set to be organised at Narendra Modi stadium, the world's biggest cricket stadium on December 7, to mark the selfless service and devotion of more than 1 lakh volunteers. The occasion will begin with a heartfelt tribute to Pramukh Swami Maharaj on his birth anniversary, celebrating his pioneering efforts in fostering a global community of selfless volunteers. The event will be graced by BAPS spiritual leader Mahant Swami Maharaj and attended by Home Minister Amit Shah, Gujarat Chief Minister Bhupendra Patel. The year- ...Read More >
Constitution Day, known as Samvidhan Divas, is observed annually on November 26. This day commemorates the adoption of the Indian Constitution in 1949. Dr. B.R. Ambedkar, the chairman of the Drafting Committee, played a pivotal role in shaping this foundational document. The Constitution officially came into effect on January 26, 1950, marking a transformative chapter in India's history. Why Do We Celebrate Constitution Day? Constitution Day is celebrated to remind citizens of their rights and responsibilities as outlined in the Indian Constitution. It serves as an opportunity to appreciate ...Read More >
The financial repercussions of Parliament disruptions are considerable, impacting both public resources and the productivity of the nation's legislative process. However, both the Lok Sabha and Rajya Sabha have cumulatively functioned for merely 2 hours, with daily disruptions and sloganeering resulting in adjournments. The Rajya Sabha faced disruptions today (December 2) as Vice Chairman Jagdeep Dhankhar expressed discontent over sloganeering by Opposition MPs. The protests, which centered around demands for discussions on key issues, forced the Vice Chairman to adjourn the session until 12 ...Read More >
Bhubaneswar, Dec 3 (PTI) Odisha MLAs across party lines on Tuesday demanded an increase in their salaries and enhanced pensions for former lawmakers. The issue was raised during Zero Hour by Opposition chief whip Pramila Mallik, supported by members from both Congress and BJP. Mallik emphasised the need to increase the pension of former MLAs, saying they were struggling to manage due to rising market prices and medical expenses. She pointed out that a committee formed by the previous government had already submitted a report recommending an increase in the salary of MLAs to Rs 2.5 lakh per ...Read More >
ess than 24 hours after he asserted in Nigeria's Abuja that stepping out of the comfort zone, innovating and creating new paths has now become the very essence of today's India, Prime Minister Narendra Modi on Monday told the gathering of world's most influential leaders converged in Rio de Janeiro for the G20 Summit that the main reason for India's success lies in his government's 'back to basics' and 'march to the future' approach. Addressing the G20 session on 'Social Inclusion and the Fight Against Hunger and Poverty' at the bayside museum of modern art during the two-day 19th G20 Summit, ...Read More >
Hyderabad (Telangana) [India] November 18 (ANI): Bharatiya Janata Party MP K Laxman slammed Telangana Chief Minister Revanth Reddy, accusing the Congress party of 'misleading' people. He further said that the people of Maharashtra know "how to teach a lesson" to Congress. "Revanth Reddy as a CM of Telangana and as a Congress leader is misleading the public. Maharashtra people are clever enough they know how to teach a lesson to these Congress people and Revanth Reddy you will come to know what has happened in Haryana that is going to be repeated in Maharashtra, and Jharkhand also," K Laxman ...Read More >
Union Minister of Rural Development and Agriculture & Farmers' Welfare Shri Shivraj Singh Chouhan launched the third edition of Nayi Chetna - Pahal Badlaav Ki, a national campaign against gender-based violence, at Rang Bhawan Auditorium, New Delhi yesterday. Delivering his address, Shri Chouhan stated that the Government has taken a slew of initiatives for women's economic and social development. He stressed that gender-based violence is not an issue that persists in rural areas, but in urban areas as well. He said with the presence of Union Minister of Women and Child Development Smt. Annpurn ...Read More >
Proceedings in both houses of the Parliament came to halt on Wednesday amid protests by Oppostion members over the Adani Bribery controversy, recent violence in Sambhal in Uttar Pradesh and other issues. Lok Sabha proceedings were initially adjourned until 12 noon and later until Thursday, as Opposition members, including those from Congress, protested and sought to raise various issues at the start of the session. Some members from the Congress and Samajwadi Party were in the Well while other Opposition members stood in the aisle and shouted slogans. The Opposition members wanted to discus ...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 >
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, 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, Dec 4 (PTI) The Congress Wednesday said a "cover-up" is in the making after reports claimed entities connected to the Adani Group have approached the SEBI seeking settlement in a case that alleges violations of public shareholding norms through unfair practices. It asserted the "scam" requires serious punitive action, including arrests and raids by investigative agencies. Congress general secretary in-charge communications Jairam Ramesh said a token settlement would make Indian institutions a laughing stock whose reputation has already been tarnished by the actions of Prime Minist ...Read More >
ISKCON Kolkata has raised concerns with India over ongoing persecution of its monks and Hindu communities in Bangladesh, following the arrest of monk Chinmoy Krishna Das. ISKCON Kolkata has seriously raised concerns with the Indian government over the ongoing persecution of its monks and Hindu religious communities in Bangladesh. This is after the recent arrest of monk Chinmoy Krishna Das, a development that is very worrying in light of a series of attacks on members of the Hindu Vaishnavite order and other minority communities. ISKCON Kolkata spokesperson Radharaman Das shared with PTI that ...Read More >
As a part of the new agreement between Mazagon Dock and BEML, Mazagon Docks will make facilities available to BEML's research team in exchange for their technical support to design and manufacture strategic equipment, reported PTI. The government-owned BEML Ltd. (formerly known as Bharat Earth Movers Ltd) announced on Wednesday, November 27, that it has signed an agreement with Mazagon Dock Shipbuilders to develop technologies for the marine industry, news agency PTI reported. According to the company statement cited by the agency, the company aims to leverage the opportunity to expand its e ...Read More >
H.E. Josel Francisco Ignacio, current Ambassador of the Philippines to India shares his credentials with President Droupadi Murmu On 16 November 1949, the Philippines and India, the two independent democracies would forge diplomatic ties. The two republics were born just a few years apart, first set out on the road to their bilateral friendship and collaboration. This inaugurated a period of closer government interaction, commerce and investment, and other bilateral and multilateral cooperation. Building on much common ground in history, democratic ideals, socio-economic imperatives and aspi ...Read More >
New Delhi [India], November 28 (ANI): India has expressed its concern over the escalating incidents of violence against Hindu minorities in Bangladesh and desecration, and damage to their places of worship, and has also called on the interim government there to ensure the safety of minorities. In a response to question asked by RJD MP AD Singh, Minister of State for Ministry of External Affairs, Kirit Vardhan Singh in a written reply to Rajya Sabha, stated that the "primary responsibility" for the protection of life and liberty of all citizens of Bangladesh, including minorities, "rests with ...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 >
NEW DELHI: Prime Minister Narendra Modi's home state, Gujarat, has achieved remarkable success in implementing the PM Surya Ghar Muft Bijli Yojana, a flagship initiative aimed at promoting rooftop solar installations for residential users. Informing the Rajya Sabha on Tuesday, Union Minister for New and Renewable Energy and Power, Shripad Naik, stated that Gujarat has recorded the highest number of solar rooftop installations, followed by Maharashtra and Uttar Pradesh. The minister further revealed that a total of 1.45 crore registrations have been recorded across the country under the PM Su ...Read More >
The Minister for Information, Communication, Technology and National Guidance, Hon. Chris Baryomunsi has unveiled government plans to extend internet connectivity to all sub-counties through a loan acquired from the Exim Bank of China. Baryomunsi said that with the US$150 million, government will go beyond its ministries, departments, agencies (MDAs) and district headquarters) to connect all sub-counties to the National Backbone Infrastructure (NBI). "This is vital for ensuring that all regions benefit from the digital economy. Last mile connectivity, the final segment connecting the NBI to ...Read More >
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 >
Since our last publication, the higher risk-sensitive EUR/CHF cross pair has wobbled as it grappled with the Eurozone's economic weakness and a looming unfavorable external trade environment due to further global supply chain disruptions due to incoming US President-elect Trump's 10% to 20% tariffs threat on other countries' exports to the US, inclusive of the Eurozone. The EUR/CHF inched lower in the week of 18 November (ex-post US Presidential election outcome on 6 November) and retested a key intermediate support of 0.9255, a key swing low made almost a year ago on 29 December 2023. Fig 1 ...Read More >
Bhubaneswar, Dec 3 (PTI) A delegation of the Opposition BJD on Tuesday met Union Minister for Jal Shakti C R Patil and apprised him of the potential submergence of large areas in Odisha's Malkangiri district, due to construction of a multi-purpose project in neighbouring Andhra Pradesh. The delegation, led by senior leader Debi Prasad Mishra, also submitted a memorandum with the Ministry of Jal Shakti. The regional party in its memorandum mentioned that the Polavaram project is likely to impact the lives and livelihoods of thousands of tribal people, especially those from vulnerable and prim ...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 >
New Delhi, November 26: Prime Minister Narendra Modi on Tuesday said that the government at the Centre has strengthened the spirit of the Constitution over the last 10 years. Addressing the Constitution Day celebrations at the Supreme Court, PM Modi highlighted that in the last 10 years, more than 53 crore bank accounts were opened, more than 4 crore pukka houses were given and more than 10 crore free gas connections were given. "In the last 5-6 years, by providing tap water facilities in more than 12 crore houses, the government made the lives of citizens easy, particularly of women," he sai ...Read More >
Chief Minister Mohan Yadav, campaigning to invite global investors to the Global Investors Summit to be held in Bhopal in February 2025, addressed an interactive session with industrialists during a roadshow in London, UK, on Tuesday. Yadav praised the dynamic leadership of Prime Minister Narendra Modi for the rapid industrial development seen across India. Inviting the industrialists to invest in Madhya Pradesh, he highlighted that the state possesses one of the largest land banks in the country. Madhya Pradesh has transparent and investor-friendly policies and is a leader in the mining and ...Read More >
The Indian government has announced a 375km rail network expansion, aimed at enhancing economic growth and connectivity in North Maharashtra, Madhya Pradesh, and Uttar Pradesh. With a total cost of approximately Rs79.27bn ($1.05bn), these projects are aimed to be completed within four years. Union Minister of Railways, Ashwini Vaishnaw, detailed the Cabinet Committee on Economic Affairs' approval of three railway infrastructure projects. The projects include the Jalgaon-Manmad fourth line (160 km), Bhusawal-Khandwa third and fourth lines (131km), and the Prayagraj (Iradatganj)-Manikpur thir ...Read More >
New Delhi, Nov 28 (PTI) Coworking firm Incuspaze, which provides managed flexible office spaces to corporates, is looking to raise USD 25 million (over ₹210 crore) to expand its business across major cities before planning to launch its Initial Public Offer (IPO). Established in 2016, Incuspaze has a presence in 44 locations across 18 cities with a total portfolio of 40 lakh square feet. "We plan to add another 2 million (20 lakh) square feet in our portfolio by the end of December 2025," Incuspaze founder and CEO Sanjay Choudhary told PTI. In view of the growing demand for flexible workspa ...Read More >
Cybercrime is quickly increasing in India, with reports surfacing daily about victims losing large sums of money to scammers. These scammers often use tactics like threatening a "digital arrest" to instill fear and pressure individuals into transferring money. They typically operate from foreign countries to evade capture by law enforcement. The Indian government, including Prime Minister Modi, is actively raising awareness about these scams. Recently, the Department of Telecommunications (DoT) issued a warning to the public regarding international fraud calls. They advised people to be caut ...Read More >