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.
He added: "Indian companies source energy supplies from around the world while taking overall market conditions into account. We would stress that there should be no double standards, especially when it comes to energy trade." Nayara Energy has come under the lens of Western governments given that 49.13 percent of the Indian company is owned by Russia's petroleum giant Rosneft. Nayara, formerly Essar Oil Ltd, operates a refinery at Vadinar in Gujarat, which was hit with sanctions by the European Union (EU) in July this year. The latest sanctions imposed by the UK will impact 90 entities, including Lukoil, Russia's second-largest oil and gas company, along with four oil terminals in China, and 44 tankers part of the "shadow fleet" which London alleges was being used to ferry Russian oil. The UK Foreign, Commonwealth and Development Office (FCDO) in its statement Wednesday highlighted that Nayara purchased 100 million barrels of Russian crude worth over $5 billion in 2024 alone. "The 90 new sanctions strike at the heart of Putin's war funding, directly targeting Rosneft and Lukoil -- two of the world's biggest energy companies, which together export 3.1 million barrels of oil per day. Rosneft alone is responsible for 6 percent of global and nearly half of all Russian oil production," the FCDO statement said. British Foreign Secretary Yvette Cooper in a statement called the UK's action as a "another step towards a just and lasting peace in Ukraine". The latest sanctions package announced by London further banned the imports of oil products refined in third countries from Russian-origin crude, which is similar to what the EU had done earlier. "As Putin's vital oil revenues shrink year-on-year under the weight of international sanctions, the Kremlin is scrambling to expand its liquified natural gas (LNG) industry to plug these losses. The UK is today also sanctioning seven specialised LNG tankers and the Chinese Beihai LNG terminal. Beihai has been importing LNG from Arctic LNG2-the severely disrupted flagship Russian LNG project, sanctioned by the UK in February 2024," added the FCDO statement. India and the UK have seen an upswing in ties in recent years, with both countries concluding and signing a free trade agreement in May this year. British Prime Minister Keir Starmer led a business delegation consisting of over 100 businesspersons to Mumbai last week and held a bilateral meeting with Prime Minister Narendra Modi. Defence and strategic ties between New Delhi and London have also grown, with agreements signed last week in this regard. However, with regards to the Russia-Ukraine war, the two countries have differing positions. London has been one of the biggest supporters of Kyiv since just before the war broke out in February 2022. India, on the other hand, has increased its purchases of Russian oil since the war began, while calling for both Moscow and Kyiv to negotiate an end to the war. In 2024-2025, India purchased some $56 billion worth of crude oil from Russia. The UK is a part of the G7 countries that introduced a price cap on Russian oil at the end of 2022 to curtail Moscow's revenues from its sale. The price cap, meant to ensure the sale of Russian crude below $60 a barrel, saw India increase its purchases of oil from Moscow.
Mumbai: The birth of three penguin chicks at Mumbai's Veermata Jijabai Bhosale Udyan and Zoo has sparked an unexpected row not over their care, but their names. BJP functionary Nitin Bankar from the Byculla Assembly constituency has objected to the chicks being given English names, insisting they be named in Marathi instead. The BMC is expected to respond by June 10, after which Bankar will decide his next move. Speaking to The Free Press Journal, Bankar said, "When penguins were brought from abroad, we accepted that their names would be in English. But these chicks were born on the soil of M ...Read More >
New Delhi, Jan 31 (VOICE) The output of India's eight core sector industries rose 4 per cent year-on-year in December, driven by an increase in the production of coal, steel, and electricity during the month, according to government data released on Friday.The eight core industries include coal, natural gas, crude oil, refinery products, fertilisers, cement, steel and electricity which comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). The growth rate of the core industries, therefore, is an indicator of the overall industrial growth rate. Apa ...Read More >
Kanpur (UP), May 28 (PTI) Prime Minister Narendra Modi will lay the foundation stone and inaugurate multiple development projects worth about Rs 20,900 crore here on Friday to boost the region's infrastructure and connectivity, an official statement issued here said. He will launch Chunniganj Metro Station to Kanpur Central Metro Station section of the Kanpur Metro Rail Project worth more than Rs 2,120 crore. It will include 14 planned stations with five new underground stations integrating key city landmarks and commercial hubs into the metro network. Besides, he will also inaugurate road-w ...Read More >
New Delhi, May 29: Chief of Defence Staff (CDS) General Anil Chauhan will be on a three-day official visit to Singapore from May 30 to June 1, 2025, to participate in the 22nd Shangri-La Dialogue, the Ministry of Defence said. Hosted annually by the International Institute for Strategic Studies (IISS), the Shangri-La Dialogue is regarded as Asia's premier defence and security summit. This year's edition will convene defence ministers, military chiefs, policy makers, and strategic thinkers from around the world to address regional security challenges, particularly in the Indo-Pacific. During ...Read More >
Hyderabad: In a significant boost for 'Make in India' and 'Atmanirbharta' in the aerospace and defence sector, and Hyderabad's growing stature as a global aerospace hub, the complete fuselage of the Rafale fighter jet will now be made in India at Hyderabad. This move marks the first time that these Rafale components will be manufactured outside France for the Indian as well as global markets.French aerospace major Dassault Aviation has signed four production transfer agreements with Tata Advanced Systems Ltd (TASL) for manufacturing key sections of the Rafale fighter jet, including the lateral ...Read More >
A Russian strike on a nine-story building in the city of Sumy in northern Ukraine killed eight people and wounded dozens, an official said Sunday (November 17, 2024), as Russia launched a massive drone and missile attack described by officials as the largest in recent months. "Among the eight killed in Sumy, 40 kilometers (24 miles) from the border with Russia, were two children," said Ukraine's Minister of Internal Affairs Ihor Klymenko. More than 400 people were evacuated from the building. Ukraine's Zelenskyy urges allies to take steps before North Korean troops reach the front The rescu ...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 >
Russian President Vladimir Putin has received an invitation to visit India by Prime Minister Narendra Modi, with plans for the visit to be finalized in early 2025. This announcement was made by Kremlin Aide Yury Ushakov during a recent briefing. According to Ushakov, the two leaders have agreed to meet annually, and this time it is Russia's turn to host the meeting. "Our leaders have an agreement to hold meetings once a year. This time, it's our turn," the diplomat noted. "We received Mr. Modi's invitation and we will certainly consider it positively," he stated. Regarding the tentative date ...Read More >
The incoming US president has vowed to press for a quick deal to end Russia's war - leaving Kyiv scrambling to position itself ahead of his January inauguration Nato foreign ministers looked set to rebuff Tuesday a push from Ukraine for progress on joining their alliance ahead of Donald Trump taking power in the United States. The incoming US president has vowed to press for a quick deal to end Russia's war - leaving Kyiv scrambling to position itself ahead of his January inauguration. Ukraine's President Volodymyr Zelenskyy has said getting security guarantees from the Western alliance and ...Read More >
New Delhi [India], January 10 (ANI): Prime Minister Narendra Modi said that people misunderstand the meaning of, "minimum government, maximum governance". He said that the efforts must be to increase the speed of work done by government departments and thus, he had made different ministries for skill, cooperatives, and fisheries. Speaking in a podcast with Zerodha Co-founder Nikhil Kamath, PM Modi said that the government took away 40,000 compliances to increase the speed of work in different departments. "We often misunderstand the concept of minimum government, maximum governance. Some bel ...Read More >
Ladwa (Haryana) [India], May 22 (ANI): Haryana Chief Minister Nayab Singh Saini on Thursday carried out the Tiranga Yatra to honour armed forces for Operation Sindoor. The CM, in his address to the people, stated that the rallies were occasions to pay true homage to the sense of patriotism and sacrifice. "Tiranga Yatra is being organised in Ladwa today. Tiranga Yatras are being organised across the country...These Yatras are not just events but occasions to pay true homage to the sense of patriotism and sacrifice...This Yatra is not just of the tricolour, this is a Yatra of our pledge, brave ...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 >
The escalating conflict could upset a hard-fought consensus that G20 negotiators reached around 5 a.m. on Sunday, after an overnight push to ready the joint statement for final review by leaders arriving in Rio. That preliminary consensus after six days of negotiations included streamlined language about global conflicts including the war in Ukraine, focusing on the need to negotiate peace rather than criticism of any participants. However, sources said even that "simpler" consensus may now be up for reconsideration following the Russian air strike and the prospect of further escalation. Un ...Read More >
Delhi is facing worsening pollution and erratic weather patterns, with the air quality regularly reaching dangerous levels. This is partly due to climate change, with temperature rises and unpredictable rainfall patterns caused by global warming. The industrial revolution has played a significant role, contributing to the rise in global temperatures. The effects are already being felt, with 2024 witnessing record-breaking heat in India. Despite this, there is little action from society or leadership, with courts repeatedly stepping in to address issues like pollution and farm fires. The need f ...Read More >
Russian President Vladimir Putin is set to visit India at the invitation of Prime Minister Narendra Modi, as confirmed by Kremlin aide Yury Ushakov. The exact dates for the visit will be decided in early 2025. Ushakov highlighted that both leaders have an agreement to meet annually, and this year, it is Russia's turn to host the meeting. The visit is expected to further strengthen bilateral ties between India and Russia, with discussions likely to cover key areas of cooperation between the two nations. ...Read More >
New Delhi: ONGC's production trend is beginning to turn after eight straight years of fall as a key new field in KG Basin ramps up and the old Mumbai High asset arrests decline. ONGC's crude production rose 3% year-on-year in November to 53,804 tonnes per day (tpd) and the output growth so far in December has accelerated to 4.2% to 54,535 tpd, according to people with knowledge of the matter. The output was marginally higher in three of the first seven months this fiscal year but there is a cle ...Read More >
MUMBAI (Reuters) - One Indian national apparently recruited by the Russian army has been killed while another was receiving treatment for injuries at a hospital in Moscow, the Indian foreign ministry said on Tuesday. Prime Minister Narendra Modi's government has "strongly taken up" the matter with Russian authorities in Moscow and with the Russian Embassy in New Delhi while reiterating its demand for the early discharge of remaining Indian nationals serving in the Russian army, the ministry said in a statement. "We are working with the Russian authorities for early transportation of the mort ...Read More >
Bikaner, May 22: Prime Minister Narendra Modi, on Thursday, asserted that the country's enemies have learnt what happens when "sindoor" becomes gunpowder and lauded India's armed forces for creating such a trap that Pakistan was "forced to go down on its knees". In a public address in Rajasthan, the prime minister slammed Pakistan, and said in response to the attack on April 22, "we destroyed nine biggest terror hideouts in 22 minutes". "The world and the enemies of the country have seen what happens when sindoor (vermillion) turns into barood (gunpowder)," he said. He said India is not goi ...Read More >
NEW DELHI: Former head of Air India and chairman of the Railway Board Ashwani Lohani is the new Prime Ministers Museum and Library (PMML) director. The official order for his appointment was issued on Wednesday. A 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), Lohani is known for turning around various organisations during his illustrious career. Following his retirement from IRSME service, he joined the GMR Group as the CEO. According to the order dated June 4, his appointment to the post of director, Prime Ministers Museum and Library in the rank and pa ...Read More >
After the banned CPI (Maoist)'s general secretary Nambala Keshava Rao alias Basavaraju was killed in an encounter with security forces on May 22, Union Home Minister Amit Shah reiterated that Naxalism will be eliminated from the country by March 31, 2026. In the Congress-ruled Telangana, however, B Mahesh Kumar Goud, the Telangana Pradesh Congress Committee (TPCC) president, says that the government should not use iron fist to wipe out Maoists but deal with them through "legal and constitutional means". He has urged the Centre to hold "peace talks" with the Maoists and declare a "ceasefire" w ...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: Highlighting a recent directive from the Central Board of Secondary Education (CBSE) on the establishment of 'sugar boards' in schools, the Food Safety and Standards Authority of India (FSSAI) has urged states to support and implement the initiative to help curb excessive sugar consumption among schoolchildren and foster healthier dietary habits from an early age. The matter was discussed during the 47th Central Advisory Committee (CAC) meeting of the FSSAI, held on May 27. According to the FSSAI, in response to Prime Minister Narendra Modi's call for urgent action against obesity ...Read More >
Ahmedabad, Jun 6 (PTI) Gujarat Congress general secretary Rajesh Soni was arrested on Friday and charged under a tough section of the BNS for allegedly uploading "misleading" as well as "morale breaking" content on a social media platform related to 'Operation Sindoor', police said. After registration of an FIR on Thursday, the Cyber Crime Cell of the state CID arrested Soni in the wee hours over his controversial posts on the operation launched by Indian armed forces to destroy terror hubs in Pakistan and PoK, said Superintendent of Police (CID-Cyber Crime) Bharatsinh Tank. During the May 7 ...Read More >
Russia's nuclear doctrine has been updated to affirm its nuclear umbrella for primarily the six member states of the Collective Security Treaty Organization (CSTO), including an explicit focus on Belarus. The announcement followed a joint meeting of the CSTO's Council of Foreign Ministers, Council of Defense Ministers, and Committee of Security Council Secretaries held in Astana. According to the state news agency TASS, Russian Security Council Secretary Sergei Shoigu highlighted the revisions, emphasizing Moscow's commitment to protecting its allies under the CSTO. The CSTO, formed in 2002 ...Read More >
INDIA bloc MPs, donning black jackets with slogans like "Modi Adani Ek Hai", protested at Parliament demanding a joint probe into the Adani issue. Priyanka Gandhi Vadra accused PM Modi of evading discussion on the "Adani mega scam" while defending Adani's alleged corruption. Rahul Gandhi asserted that Modi won't investigate Adani as it would be like investigating himself.Congress leader Priyanka Gandhi Vadra Thursday said the country's people want the "Adani mega scam" to be discussed in Parliame ...Read More >
After the banned CPI (Maoist)'s general secretary Nambala Keshava Rao alias Basavaraju was killed in an encounter between Maoists and security forces on May 22, Union Home Minister Amit Shah reiterated that Naxalism will be eliminated from the country by March 31, 2026. In the Congress-ruled Telangana, however, B Mahesh Kumar Goud, the Telangana Pradesh Congress Committee (TPCC) president, says that the government should not use iron fist to wipe out Maoists but deal with them through "legal and constitutional means". He has urged the Centre to hold "peace talks" with the Maoists and declare ...Read More >
Guwahati, June 6 (UNI) Assam Chief Minister Himanta Biswa Sarma, while slamming Congress MP Rahul Gandhi for his 'surrender Modi' jibe, took his followers through a "reality check" as to which party and family surrendered India's interest and territory. "Rahul Gandhi has the audacity to mock the Prime Minister despite the massive success of OperationSindoor . Let's jog his memory as to which party and family has surrendered India's interest and territory, and backstabbed the people with their treachery," said the Assam Chief Minister on his X handle. "1947-48 - PoK Betrayal: It was Nehru who ...Read More >
New Delhi, Dec 12 (PTI) India should remain open to investments from China as other developed countries like the US and Germany, with the exception of a handful of sectors, 16th Finance Commission Chairman Arvind Panagariya said on Thursday. He also cautioned that one has to be careful about investments from potentially "unfriendly countries" that might damage the interest of the nation. However, developed countries are accepting investments from China in any particular sector, India can also welcome such investments. "If the US is taking investment from China, if Germany is taking, I would ...Read More >
Ottawa/New Delhi, June 6 (SocialNews.XYZ) Prime Minister Narendra Modi on Friday spoke with Canada's new PM Mark Carney, discussing various global issues while also accepting the latter's invitation to attend the G7 Summit in Kananaskis later this month. "Glad to receive a call from Prime Minister Mark Carney of Canada. Congratulated him on his recent election victory and thanked him for the invitation to the G7 Summit in Kananaskis later this month. As vibrant democracies bound by deep people-to-people ties, India and Canada will work together with renewed vigour, guided by mutual respect an ...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 >