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.
MUMBAI, 22 Oct: Tata Motors has witnessed close to 30% growth in passenger vehicles during the two days of Dhanteras and Diwali period. In a recent press release, Tata Motors Passenger Vehicles Ltd. chief commercial officer Amit Kamat said, "This year, Dhanteras and Diwali deliveries are spread over two - three days in line with the auspicious mahurats. Overall demand has been robust, and the GST 2.0 reform has further provided positive momentum. We expect to deliver over 25,000 vehicles during this period."
New Delhi [India], September 3 (ANI): The All India LPG Distributors Federation has appealed Finance Minister Nirmala Sitharaman to reduce the Goods and Services Tax (GST) on LPG Suraksha Hoses (LPG pipes) from 18 per cent to 5 per cent. In the run up to the two-day GST Council meeting that started today, the Federation had written to the Union minister Also Read | Tamil Nadu Power Cut on September 4: TANGEDCO Maintenance to Hit Chennai Along With Parts of Thanjavur and Coimbatore; Know Timings and List of Affected Areas. In the letter, the Federation had stressed that the LPG Suraksha Hose ...Read More >
Mumbai, Sep 5 (PTI) The car makers are expected to see a pent-up demand over the next two months, and the industry may perform better than projected earlier this fiscal due to GST rate rationalisation, which will make small cars cheaper, Stellantis India business head and director for automotive brands Kumar Priyesh said on Friday. He also said that building local R&D, manufacturing, supply chain, and localised products has helped the group's Citroen brand keep its vehicle prices accessible for customers. Earlier, Citroen India announced the debut of its Basalt X Range, with all-new interior ...Read More >
Amaravati, Sep 26 (PTI) Andhra Pradesh Chief Secretary K Vijayanand on Friday directed district collectors to launch a month-long awareness campaign on the benefits of GST 2.0 reforms. Addressing a video conference with district collectors at the state secretariat, Vijayanand discussed GST reforms awareness, seasonal conditions, renewable energy projects, and land-related issues. "District collectors should organise a month-long awareness campaign to create widespread understanding among the pu ...Read More >
NEW DELHI: Chief Minister Rekha Gupta has said that traders across the national capital have begun receiving their goods and services tax (GST) refunds ahead of the festive season. So far, an amount of Rs 738 crore has been disbursed under this initiative to Delhi traders. She described this initiative, and the earlier decision to waive of late surcharge on water bills, as Diwali gifts to the people of Delhi. Highlighting the government's efforts to ensure timely GST refunds, the chief minister said that the Department of Trade and Taxes has successfully cleared pending refund cases amountin ...Read More >
Pune: Pashan resident Kushagra Agarwal rushed to the jewellers last week as soon as gold prices reduced slightly, to Rs 95,784 per 10g, as he had to buy gold for his son's wedding. With a Rs 3,000 to Rs 4,000 per 10 g reduction in the price of gold, jewellers expect many other residents in the city to walk into stores in the coming days. The gold industry has been struggling to find buyers over the last six months as prices have been consistently rising. The price of gold, which was hovering around the Rs 1 lakh mark last month for 10g, is now trading at Rs 96,800/10g grams, excluding GST. Aga ...Read More >
Chennai: Union Finance Minister Nirmala Sitharaman on Sunday said the GST reforms are a huge victory for each and every citizen of the country. Taking into account that every state in India has its own festivals, it has been decided to implement the GST reforms much ahead of Prime Minister Narendra Modi's instruction of launching them before Deepavali festival, Sitharaman said at an event in Chennai. In her address at the joint conclave of the trade and industries association on "Tax Reforms for Rising Bharat' organised by Chennai Citizens Forum, she said the beneficial impact of Goods and S ...Read More >
Dehradun (Uttarakhand) [India], September 26 (ANI): Uttarakhand Chief Minister Pushkar Singh Dhami chaired a review meeting at the Chief Minister's residence on Friday regarding the ongoing GST and Swadeshi Awareness Campaign in the state. The Chief Minister said that the new GST rates, effective from September 22, are a significant step for the state's economy and local industries, and their benefits are now directly reaching the public. He urged all public representatives to make awareness activities more extensive and impactful. He asked representatives to actively carry the campaign forw ...Read More >
HYDERABAD: After four days of relentless downpours, Telangana is expected to have a brief respite on Monday, with no rainfall alerts issued. However, the India Meteorological Department (IMD) placed the state under a yellow alert for thunderstorms. IMD data showed that Papannapet in Medak district received the heaviest 24-hour rainfall at 10.6 cm, followed by Manoor in Sangareddy with 9.28 cm and Nallabelly in Warangal at 9.15 cm. The statewide average rainfall for the day stood at 7.3 mm, notably higher than the normal 4.3 mm. Warangal's Sangem recorded the day's highest maximum temperature ...Read More >
New Delhi: Mercedes-Benz India on Monday reported record retail sales in the July-September quarter, driven by the highest-ever monthly offtakes in September, including registration of over 2,500 units in the nine-day Navaratri period. The luxury carmaker retailed 5,119 units in the second quarter as compared with 5,117 units in the second quarter of the last fiscal. The company said it sold a record of over 2,500 units in the 9 days of the auspicious festive period, the highest ever for Mercedes-Benz in India. The record retails during the Navaratri period helped the automaker post its hig ...Read More >
India's insurance market saw strong growth, boosted by the festive season and a government decision to make health insurance GST-free. The festive season, coupled with the government's recent decision to make health insurance GST-free, has provided a strong boost to India's insurance market. According to an analysis by Policybazaar, insurance payments between September 22 and October 14 grew 14 per cent week-on-week and 35 per cent year-on-year, driven by festive spending and consumer preference ...Read More >
Chennai: Union Finance Minister Nirmala Sitharaman on Sunday said that the Goods and Services Tax (GST) reforms have reduced the tax burden on people. Addressing the Joint Conclave of Trade and Industries Association - 'Tax Reforms for Rising Bharat' in Chennai, she explained that the four-tier GST structure has now been simplified to just two slabs. Union Finance Minister Nirmala Sitharaman's Statement "Earlier, GST had four categories. Now, we have simplified it into two slabs - 5 per cent and 18 per cent. Items that were taxed at 12 per cent and 18 per cent have largely been moved to the ...Read More >
The country's attraction towards Khadi has increased significantly in the last 11 years, said PM Modi. New Delhi: Prime Minister Narendra Modi, addressing the 126th episode of 'Mann Ki Baat' on Sunday, called on the countrymen to adopt 'Swadeshi' this Gandhi Jayanti and express pride in it. "October 2 is Gandhi Jayanti. Gandhiji always emphasised the adoption of Swadeshi, and Khadi was the most prominent among them. Unfortunately, after Independence, the charm of Khadi was fading away, but dur ...Read More >
New Delhi: The government on Wednesday approved a hike in dearness allowance for its employees, increased the minimum support price for key crops, and okayed a mission to boost pulses output in the country, in decisions that will cost the Centre ₹1.2 trillion. In a festival-season bonanza, the Union cabinet approved a 3% increase in the dearness allowance (DA) and dearness relief (DR) for central government employees and pensioners. Effective 1 July, the DA stands at 58% of the basic pay, and would benefit about 4.92 million employees. Similarly, the DR would benefit 6.87 million pensioners ...Read More >
New Delhi, Oct 3 (PTI) Major companies across sectors, including automakers, consumer electronics, and consumer goods, have reported record sales during the nine-day auspicious Navratri period, according to data shared by leading firms. The robust sales were aided by the recent GST reform, which saw a substantial drop in tax rates, leading to price reductions across consumer goods, appliances, such as TVs (above 32-inch screen size), air conditioners and automobiles. The industry reported a spike in sales from day one on September 22, when the new slashed rates came into effect. Encouraged ...Read More >
As the festive season kicks off in India, Gold prices have surged to an all-time high, leaving many surprised. In just one day, the price increased by over Rs. 3,000. Currently, the cost of 10 grams of 24-carat is Rs. 1,31000, while 22-carat for the same weight is at Rs. 1,15,350. However, these rates may vary slightly depending on the region. With Dhanteras on Saturday followed by Diwali, these metals usually see a spike in purchases. However, the current price hike might impact buying decision ...Read More >
MADURAI: Likening the custodial murder of Ajith Kumar in Tiruppuvanam to an 'organised crime by police where the state kills its own citizens,' Madras high court lambasted the Tamil Nadu police and said the action against the perpetrators should be more stringent than in normal murder cases.A division bench of Justice S M Subramaniam and Justice A D Maria Clete pointed to 44 external injuries on the person of Ajith Kumar and said no part of the body was spared by the delinquent cops. "Even an ordinary murderer would not have inflicted such kind of injuries," the bench said on Tuesday.The natur ...Read More >
Dehradun (Uttarakhand) [India], September 26 (ANI): Uttarakhand Chief Minister Pushkar Singh Dhami participated in an awareness program organised in Patel Nagar, Dehradun, on Friday as part of the 'GST Bachat Utsav.' During the event, the Chief Minister interacted with traders and local residents to gather feedback on the benefits of the reduced GST rates. He stated that under the leadership of Prime Minister Narendra Modi, a new era of economic reforms has commenced in the country, and the reduction in GST rates represents a historic step toward enhancing the quality of life for all sections ...Read More >
Bengaluru: Congress President Mallikarjun Kharge was admitted to MS Ramaiah Hospital in Bengaluru after developing a fever late Tuesday night, sparking concern among party workers and political leaders across the country. Doctors at the hospital are closely monitoring his condition and have assured that there is no immediate cause for alarm. Kharge, 83, was reportedly brought to the renowned medical facility after he complained of persistent fever. A medical team quickly initiated a series of diagnostic tests to determine the cause. While his condition is said to be stable, doctors have kept ...Read More >
The government has disbursed a GST refund of Rs 738 crore so far under this initiative, the CM said. Delhi Chief Minister Rekha Gupta on Friday announced that traders across the Capital have begun receiving their GST refunds ahead of Diwali. The government has disbursed a GST refund of Rs 738 crore so far under this initiative, the CM said. ARTICLE CONTINUES BELOW VIDEO Further, Gupta said that the Department of Trade and Taxes has successfully cleared pending refund cases amounting to Rs 1,00 ...Read More >
New Delhi [India], October 18 (ANI): Dhanteras marked the onset of Diwali festivities across India on Saturday, with bustling markets and enthusiastic buyers flocking to purchase gold, silver, utensils, and other auspicious items. Despite soaring gold prices, consumer enthusiasm remained high, providing a festive boost to local economies nationwide. Jewellery shops and markets in states like Maharashtra, Madhya Pradesh, West Bengal, Uttar Pradesh, Chandigarh, Delhi, Rajasthan, Tamil Nadu, Odisha, Gujarat, and Goa saw heavy footfall as customers upheld the traditional buying spree. Also Read ...Read More >
Mumbai: The Indian equity indices fell sharply to end the session nearly one per cent lower on Thursday -- a day after the 50 per cent US tariffs on Indian goods came into effect. Sensex ended the session at 80,080.57, down 705 points or 0.87 per cent. The 30-share index started the session in negative territory at 80,754 against last session's closing of 80,786.54 amid selling across the sectors. The Index further extended the losing momentum to hit an intra-day low at 80,013.02 following the implementation of US tariffs on Indian goods. Nifty settled at 24,500.90, down 211.15 points or 0.8 ...Read More >
New Delhi, Sep 5 (PTI) Tata Motors on Friday said it will cut passenger vehicle prices ranging between Rs 75,000 and Rs 1.45 lakh effective September 22 to pass on the full benefit of GST reduction to customers. The Mumbai-based auto major said that its small car Tiago will see a price drop of Rs 75,000, Tigor Rs 80,000, and Altroz Rs 1.10 lakh. Similarly, the price of compact SUV Punch will come down by Rs 85,000 and that of Nexon by Rs 1.55 lakh. Mid-sized model Curvv would also see a price cut of Rs 65,000, Tata Motors said in a statement. Prices of company's premium SUVs - Harrier and ...Read More >
New Delhi, Oct 3 (SocialNews.XYZ) India's economy witnessed its highest Navratri sales of consumer goods in over a decade, propelled by the government's next-gen GST reforms that reduced tax rates and made products more affordable for the consumers. These measures not only lowered prices but also unlocked consumer aspirations, enabling families to upgrade vehicles, invest in home appliances, and spend more freely on lifestyle goods, turning festive cheer into record-breaking consumption, as per the data. Leading car maker Maruti Suzuki clocked a 100 per cent growth in Navratri, which doubled ...Read More >
Union Home Minister Amit Shah launched a sharp critique against the RJD for choosing Osama Shahab, the son of infamous gangster Mohammad Shahabuddin, as its candidate. In his address, he expressed his belief that the NDA is poised for a remarkable win in Bihar's elections, commending Nitish Kumar's administration for restoring order and reducing emigration. Union Home Minister Amit Shah on Tuesday took a swipe at the opposition RJD for giving a ticket to late gangster-turned-politician Mohammad ...Read More >
India's Diwali sales hit a record high of Rs 5.40 lakh crore in goods and Rs 65,000 crore in services. This represents a 25 percent increase over last year. GST reforms and strong consumer demand fueled this growth. Brick-and-mortar stores saw a significant revival. Rural and semi-urban areas contributed substantially to the sales surge. Buoyed by GST reforms and strong consumer demand, India saw Diwali sales reach Rs 5.40 lakh crore in goods and about Rs 65,000 crore in services across the coun ...Read More >
Being denominated in US dollars in the international market, gold's price in India is highly sensitive to movements in the rupee-dollar exchange rate.Source : PTI Gold prices in Chennai softened marginally on Thursday, with 22-karat gold now retailing at Rs 9,290 per gram and 24-karat gold at Rs 10,135 per gram. The minor drop comes in line with price trends observed in other parts of the country, influenced by fluctuations in global bullion markets and currency exchange rates. India's reliance ...Read More >
Chennai: As high as 99% of all the goods which were earlier in the 12 per cent GST bracket have now been brought down to the 5 per cent GST bracket, Finance Minister Nirmala Sitharaman said Sunday. She made the remarks while addressing a joint conclave of the Trade and Industries Association, titled 'Tax Reforms for Rising Bharat' in Chennai, Tamil Nadu. The sweeping GST rationalisation and reforms unveiled after the GST Council meeting on September 3, once implemented, are expected to bring about a massive change across the country, directly impacting India's 1.4 billion citizens. The tax cu ...Read More >
New Delhi [India], September 16 (ANI): Consumers will get the benefits of reduced GST on medicines that have been manufactured and on chemist shelves before the new rates are implemented from September 22. The sweeping GST reforms unveiled on September 3, among other measures by the central government, have provided a substantial relief on health care, with taxes being either fully exempted or brought down to the lowest slab. Since then, there has been a widespread query about what will happen to medicines already in the supply chain before the new GST rates come into effect. Is it required ...Read More >
New Delhi [India], October 19 (ANI): India's auto industry is witnessing a significant surge in festive sales this Dhanteras, with major automakers like Maruti Suzuki, Tata Motors, and Hyundai Motor India reporting robust customer demand, bolstered by positive market sentiment and the impact of GST 2.0 reforms. With the auspicious Dhanteras period spread over two days this year -- starting from 12:18 PM on Saturday and extending until 1:51 PM on Sunday -- automakers are capitalising on the extended delivery window to push record volumes. Also Read | iPhone 18 Series: iPhone 18 Pro and iPhone ...Read More >
New Delhi, Sep 29 (PTI) Dismissing the Opposition's criticism of his government's GST measures as lies of "bayan bahadur", Prime Minister Narendra Modi said on Monday that the BJP-NDA ushered in a "new model of good governance" and a family will now save nearly Rs 20,000 on its annual household expenditure of Rs 1 lakh compared to the UPA period. Speaking at the inauguration of Delhi BJP headquarters here, Modi asked party workers to ensure that the benefits of next-generation GST reforms reach people, especially in opposition-ruled states, asserting that the decision, along with the rise in ...Read More >