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.
India's IT services sector shows tentative signs of demand stabilization, with recent sequential revenue growth. However, the outlook for FY26 remains muted at 1.1% growth due to cautious client spending and the impact of AI. The information technology (IT) services sector in India is showing tentative signs of demand stabilisation, even as visibility into calendar year 2026 remains weak, noted in a report on India's IT services by Goldman Sachs. "While there are early signs of demand stabilisat
India's manufacturing sector growth fell to a joint 11-month low, restricted by competitive conditions and inflationary pressures India's manufacturing sector growth fell to a joint 11-month low of 56.5 in November, restricted by competitive conditions and inflationary pressures amid a softer increase in factory orders, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in October to 56.5 in November, signalling a softer improvement in the health of the sector. However, the pace of growth remained above its long-r ...Read More >
New Delhi, Dec 3 (VOICE) White collar hiring in India grew 6 per cent in the festive season (October and November), driven by strong growths in key non-IT sectors, a report showed on Tuesday.The sectors like Oil and Gas (+16 per cent), Pharma/Biotech (+7 per cent), FMCG (+7 per cent), and real estate (+10 per cent), alongside sustained momentum in emerging domains like AI/ML (+30 per cent) and global capability centres (+11 per cent), according to Naukri JobSpeak Index. While the IT sector has historically been a dominant force in fresher hiring, the current trend shows a significant upsurge ...Read More >
Bengaluru, 4th December 2024- PURE EV, one of India's leading electric two-wheeler manufacturers, has unveiled an ambitious roadmap to strengthen its presence nationwide and expand globally while introducing innovative solutions for sustainable mobility. Over the next 30 months, the company aims to add 250 new dealerships, taking its total network to over 320 across India. The expansion will be driven by the growing demand for long-range scooters, electric motorcycles, large B2B contracts, and the company's entry into the house-hold brand space. Dr. Nishanth Dongari, Founder & MD of PURE EV, ...Read More >
The Reserve Bank of India raised the interest rate caps on Foreign Currency Non-Resident Bank (FCNR-B) deposits to attract more capital inflows, amid pressures on the rupee. Starting December 6, banks can offer higher rates -- up to 400 basis points for 1-3 year deposits and 500 basis points for 3-5 year deposits -- until March 31, 2025. This move comes as the rupee faces volatility.The Reserve Bank of India on Friday announced a raise in the interest rate caps on the Indian diaspora's foreign cu ...Read More >
CHITTOOR (Andhra Pradesh): The Apollo University, Apollo Hospitals and University of Leicester, United Kingdom, have partnered to establish the Centre for Digital Health and Precision Medicine (CDHPM) at The Apollo University campus in Chittoor, Andhra Pradesh. The advanced research center will bring together the expertise and resources of both institutions to create a global hub for digital health and precision medicine. The CDHPM will be the hub in Chittoor, India. The hub at the University of Leicester will be based at the BHF Cardiovascular Research Centre at Glenfield Hospital, Leicester ...Read More >
In an exclusive interview with FinTech Magazine at Money20/20, Matthew Van Buskirk, Co-founder and CEO of Hummingbird Regtech, discusses how the company is enabling data to be labelled at ease through the use of artificial intelligence. Hummingbird positions itself as an AI enablement company, addressing a critical challenge in the financial sector: the lack of well-labelled, clean training data. "From the day we launched, we saw that deploying effective machine learning or AI capabilities in this industry is incredibly difficult because we don't have clean training data. Instead, we have th ...Read More >
India's growth in gross domestic product (GDP) of 5.4% in the three months ended 30 September, or the second quarter of 2024-25, was a shocker. It undershot even the most pessimistic forecasts. It's the lowest level seen since the third quarter of 2022-23 and a sharp drop from 8.1% growth in the same period last year and also from 6.7% in the first quarter of 2024-25. The consensus expectation stood at about 6.5% and the Reserve Bank of India (RBI) was expecting around 7% growth till its October policy, only to pare it to 6.8%. Growth in gross value added (GVA), which is the preferred measure ...Read More >
NEW DELHI: Recognizing the potential and challenges of AI, the Government of India constituted an advisory group, chaired by Principal Scientific Advisor Prof. Ajay Kumar Sood, to undertake the development of an 'AI for India-Specific Regulatory Framework'. Under the guidance of the Advisory Group, a sub-committee on 'AI Governance and Guidelines Development' will provide actionable recommendations for AI governance in India. The sub-committee's report on AI Governance, now published for public consultation, aims to guide the development of a trustworthy and accountable AI ecosystem in India. ...Read More >
New Delhi, May 20 (SocialNews.XYZ) Fintech company MobiKwik has reported a wider consolidated loss of Rs 56.03 crore in the fourth quarter of the financial year 2024-25 (Q4 FY25), compared to a small loss of just Rs 67 lakh in the same quarter last fiscal (Q4 FY24). The company's loss also increased from Rs 55.2 crore in the previous quarter (Q3 FY25), according to its stock exchange filing. For the full financial year FY25, MobiKwik recorded a loss of Rs 121.5 crore. This is a major setback for the Gurugram-based firm, which had posted a profit of Rs 14 crore in the previous fiscal year (FY ...Read More >
New Delhi [India], May 28 (ANI): The Union Cabinet on Wednesday approved the continuation of the interest subvention component under the Modified Interest Subvention Scheme (MISS) for farmers for the financial year 2025-26, and approved required fund arrangements. It is a Central Sector Scheme aimed at ensuring the availability of short-term credit to farmers at an affordable interest rate through Kisan Credit card (KCC). Also Read | Parcel Bomb Case: Odisha Court Convicts Accused Punjilal Meher, Sentences Him to Life Imprisonment. Under the Scheme: Farmers received short-term loans of up t ...Read More >
Infosys has announced an average 85% performance bonus for eligible employees in Q2 FY25, reflecting its strong financial performance. The bonus, paid to mid- and junior-level staff, will be credited with the November salaries, with individual payouts varying based on performance. This follows Infosys' impressive 4.7% rise in Q2 net profit and a revenue increase of 5.1%, leading to an upward revision of its FY25 revenue guidance. The bonus payout surpasses the previous quarter's 80%, with Infosys outpacing rivals like TCS. Employees are also awaiting salary hikes, with revisions expected from ...Read More >
In the financial sector, the rise of generalist lenders is gaining traction as market dynamics shift. Once overlooked, lenders offering a broad spectrum of services are now favored over specialists like microfinance or affordable housing lenders. Post-COVID, regulatory pressures and emerging risks in niche sectors have driven many lenders to diversify their portfolios, appealing to investors seeking stability. From gold loans to SME lending, diversification mitigates risk and strengthens customer relationships. As the financial landscape evolves, the demand for generalist lenders is expected t ...Read More >
Bihar's infrastructure has seen a 15-fold increase in data consumption over the past five years. Road density is now the third highest in India, electricity generation has increased tenfold, and IT parks and data centers are being developed. Numerous bridges and expanded rail lines are improving connectivity and boosting trade.Bihar has seen a 15-fold jump in data consumption in the last five years as the state goes big on developing infrastructure, investing in connectivity and building rail and ...Read More >
Bengaluru -- Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technology and services, today announced the expansion of its strategic collaboration with Micron Technology, Inc. (NASDAQ: MU), a global leader in memory and storage solutions. This strategic collaboration enables the high-capacity and energy-efficient solutions that hyperscalers require using Micron G9 QLC NAND for future DirectFlash® Module products. The joint effort continues a decade-long initiative of integrating Micron's latest NAND technology with Pure Storage solutions, which ...Read More >
Thiruvananthapuram: In his budget for 2025-26, Finance Minister K N Balagopal emphasised on technology, research, jobs, and education, positioning the state as a knowledge powerhouse. Here are key allocations and initiatives that could fuel the state's knowledge economy vision. Technology & AI * Rs 10 crore for establishing a world-class GPU cluster in Thiruvananthapuram to develop AI and AVGC (Animation, Visual Effects, Gaming, and Comics) industries. Unlike a CPU (Central Processing Unit), optimised for sequential tasks, a GPU (Graphics Processing Unit) excels at parallel processing, maki ...Read More >
Markets opened on a cautiously optimistic note on Wednesday, with the Sensex and Nifty showing marginal gains, while investors closely monitored global economic indicators and upcoming domestic policy decisions. The Sensex opened higher at 81,036.22 from its previous close of 80,845.75 and is currently trading at 81,168.92 as of 9.45 am, up by 323.17 points or 0.40 per cent. Similarly, the Nifty opened at 24,488.75 compared to its previous close of 24,457.15 and is now at 24,558.20, rising by 101 ...Read More >
Viral video shows AI cameras spotting a herd of elephants. (Photo: X/susantananda3) Elephants in Odisha's forests often face the threat of train collisions on railway tracks, as highlighted by multiple reports over the years. To prevent such accidents, authorities installed four AI cameras in the Rourkela Forest Division. A post on X (formerly Twitter) by Susanta Nanda, a retired Indian Forest Service officer, stated that the use of AI cameras effectively averted another potential accident. In t ...Read More >
The Andhra Pradesh government inked a Memorandum of Understanding (MoU) with Google. The tech giant will launch its operations from Visakhapatnam in the State. Making the announcement at the district collectors' conference on Wednesday, Chief Minister N. Chandrababu Naidu said HRD Minister Nara Lokesh's efforts have paved the way for this. The MoU was a significant development and would be a game changer. Visakhapatnam is poised for transformative growth, Mr. Naidu said. The chief minister, in ...Read More >
News 2 min read Indian IT industry to see 30-35 pc high demand for niche tech roles in 2025 The Indian IT industry is projected to see 30-35 per cent increased demand for highly-specialised tech roles in 2025, along with increased spending on upskilling in the coming years, according to a new report. New Delhi, The Indian IT industry is projected to see 30-35 per cent increased demand for highly-specialised tech roles in 2025, along with increased spending on upskilling in the coming years, acco ...Read More >
AHMEDABAD: Homegrown pharma major, Zydus Lifesciences Limited, on Tuesday reported a 17.3% rise in consolidated net profit for FY 2025 at Rs 4,525.5 crore, up from Rs 3,859.5 crore in the previous year, driven by strong US and India sales. The board recommended a final dividend of Rs 11 per equity share, subject to shareholder approval at the AGM on 12 August 2025.For the March quarter (Q4), net profit fell marginally by 1.0% to Rs 1,170.9 crore from Rs 1,182.3 crore a year earlier, impacted by a one-time loss of Rs 220 crore. Adjusted for this, net profit rose 18% year-on-year to Rs 1,390.5 c ...Read More >
MUMBAI: The Indian stock markets bounced back strongly on Friday with both the Sensex and Nifty rising sharply during the intra-day trade after a cautious start. The rally was driven by positive global cues and heavy buying in the IT and FMCG stocks. The Sensex jumped 953 points, or 1.17 per cent, to hit an intra-day high of 81, 905. Meanwhile, the Nifty climbed 299 points, or 1.21 per cent, to cross the 24, 900 mark, reaching a high of 24, 909 during early trade. However, the market gave up some of its early gains as the session progressed. Around 1 p.m., the Sensex was trading at 81, 800.8 ...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 >
New Delhi: Cybersecurity readiness remains alarmingly low in Indian companies, with only 7 per cent of firms in India expected to achieve a mature level of readiness by 2025, according to a recent report by global technology firm Cisco. This marks an increase from last year's (2024) Index, in which only 4 per cent of Indian organisations were designated as mature, the Cisco 2025 Cybersecurity Readiness Index noted. This demonstrates that despite an improvement from last year, cybersecurity preparedness remains low, especially as hyper-connectivity and AI introduce new complexities for securit ...Read More >
Sir Speedy, PIP, and Signal Graphics Drive Growth in Print Marketing Sir Speedy, PIP, and Signal Graphics, renowned leaders in print and marketing services, are seeing rising demand as small businesses turn to print for affordable, impactful marketing tools like brochures, flyers, and catalogs. Combined sales for these brands grew 5% in 2023, with expectations to surpass that in 2024. Richard Lowe, COO of Franchise Services, Inc., highlights the enduring value of print in creating personal connections in a digital world. Celebrating 50 years of family franchises, these brands showcase a leg ...Read More >
India's BFSI sector is rapidly evolving with digital transformation, creating new opportunities for the youth to merge financial knowledge with tech skills. As automation, AI, blockchain, and big data reshape the industry, India’s young workforce must be equipped with specialized skills to stay competitive. Roles in data analysis, AI, and cybersecurity are growing, and companies that invest in technology and upskilling will lead the market. While government programs aim to bridge the skills gap, a collaborative approach with educational institutions and financial organizations is key to ensuri ...Read More >
The total cost of the second phase of the project is estimated at $83.3 million, with the Tanzanian government contributing $8.33 million in counterpart funding. The African Development Bank (AfDB) has approved a $75 million loan to Tanzania for the second phase of the Centre of Excellence for Skills and Tertiary Education in Biomedical Sciences project, aimed at tackling the growing burden of cardiovascular disease in the country and the broader East African region. The total cost of the second phase of the project is estimated at $83.3 million, with the Tanzanian government contributing $8 ...Read More >
PNN Hyderabad (Telangana) [India], December 6: We are thrilled to announce that ABSYZ Software Consulting, a Youngsoft company, and a trusted Salesforce partner since 2014, has been elevated to Salesforce Summit Partner status, the highest recognition within the Salesforce consulting ecosystem. This milestone highlights ABSYZ's unwavering commitment to excellence, innovation focused on customer needs, and delivering transformative results for clients through its global Salesforce implementations. As one of the elite 5% of Salesforce consulting partners worldwide, this achievement reflects ou ...Read More >
Mumbai: The Indian stock market continued its flattish opening trajectory this week, as selling was seen in Nifty's financial service and private bank sector in early trade on Wednesday. At around 9:27 am, Sensex was trading at 81,515.06 after gaining 5.01 points or 0.01 per cent, while the Nifty was trading at 24,623.8 after rising 13.75 points or 0.06 per cent. The market trend remained positive. On the National Stock Exchange (NSE), 1,634 stocks were trading in green, while 565 stocks were in red. According to market experts, "Nifty is in a consolidation range and is likely to remain in ...Read More >
West Bengal [India], February 5 (ANI): At the 8th edition of the Bengal Global Business Summit 2025, Bhutanese Minister Younten Phuntsho emphasised the importance of the summit as a platform for strengthening the collaboration between India and Bhutan. Addressing the audience, he said, "For Bhutan, this summit is an opportunity to further deepen our (India-Bhutan) collaboration and identify strategic areas where our shared aspirations align. There are several key areas where we can forge even stronger partnership - first is tourism, we invite investors to explore opportunities in wellness tou ...Read More >
Mumbai: Indian stock markets on Wednesday opened near the flatline on a cautious note, tracking the subdued sentiment in Asian markets. At the opening of the trade, Nifty at National Stock Exchange (NSE) started at 24,204.80, up 10.30 points and Sensex at 80,121.03, up by about 122 points. In the opening trade, the stocks of Coal India, Adani Enterprises, Mahindra and Mahindra, Adani Ports, and Kotak Banks were the top gainers. On the other hand, IndusInd Bank, Cipla, Tata Consumer Products, Bharti Airtel, and UltraTech Cement were the major losers on the NSE. Among the sectoral indices, Aut ...Read More >