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.
Fortescue reported a 4% rise in first-quarter iron ore shipments and said it has revised plans for its Australian hematite mining operations that includes a new, low-grade product and is aimed at keeping a lid on costs. Fortescue, the world's fourth-biggest iron-ore producer, said it shipped 49.7 million metric tons of the steelmaking ingredient in the three months through September. That compared to 47.7 million tons in the same period a year earlier, and is a record for a first fiscal quarter,
New Delhi, Jul 3 (PTI) Vedanta registered a decline in production of saleable steel, oil and gas, and refined metal in the first quarter of the current fiscal year. However, aluminium production rose marginally by 1 per cent to 6,05,000 tonnes during the first quarter and the iron ore output also increased by 42 per cent to 1.8 million tonnes during the period. The production of saleable steel dropped 2 per cent to 3,49,000 tonnes, in case of refined metal the decline was by 5 per cent to 2,50,000 tonnes. In oil and gas, Vedanta's average daily gross operated production dropped 17 per cent ...Read More >
NEW DELHI (Reuters) -India's iron ore imports are expected to rise this year, driven by increased demand from JSW Steel, the country's largest steelmaker by capacity, as falling global prices make overseas purchases more attractive, traders and analysts said. "We expect this year's iron ore imports to be around 8-10 million metric tons, largely by JSW Steel," said Dhruv Goel, chief executive of commodities consultancy BigMint. India's iron ore imports totalled around 6 million tons last year, with JSW Steel accounting for most of them, Goel said. A drop in global prices to below $90 per met ...Read More >
New Delhi: State-owned NMDC on Wednesday said it has slashed prices of iron ore lump and its fines by Rs 550 and Rs 500 per tonne, respectively, with immediate effect. It has fixed the price of lump ore at Rs 5,550 per tonne and fines at Rs 4,750 a tonne, the country's largest iron ore miner said in a regulatory filing. Lump ores or high-grade iron ores contain 65.5 per cent iron content, while fines are inferior-grade ores with 64 per cent or less iron content. In the last price revision announced on August 1, NMDC had fixed the rate of the lump at Rs 6,100 per tonne and that of fines at Rs ...Read More >
New Delhi, Jul 2 (PTI) State-owned NMDC has reported a record 31 per cent jump in its iron ore production to 11.99 million tonnes (MT) in the April-June quarter of 2025-26 compared to 9.19 MT in the year-ago period, according to a statement. Its sales rose by 14 per cent to 11.51 MT in the first quarter of FY26 compared to 10.07 MT in the first quarter of 2024-25, the company said in the statement on Wednesday. Also Read | How Is the Next Dalai Lama Chosen? Know How the Successor of the 14th Dalai Lama Will Be Picked. In June, the company produced 3.57 MT of iron ore, registering a 5 per ce ...Read More >
New Delhi: India holds rare earth oxide resources of approximately 8.52 million tonnes, but remains dependent on imports for rare earth magnets and related products due to low-grade domestic deposits, regulatory constraints and a limited processing industry, the Parliament was informed on Thursday. In a written reply in Rajya Sabha, Union Minister of State for Science and Technology, Dr Jitendra Singh, said the Atomic Minerals Directorate for Exploration and Research has identified 7.23 million tonnes of total rare earth oxide equivalent contained in monazite deposits across Andhra Pradesh, O ...Read More >
Paradip (Odisha) [India], April 2 (ANI): The Paradip Port Authority (PPA) achieved a historic milestone by joining the elite '155+ Million Metric Tonnes (MMT) Club.' The port recorded its highest-ever cargo throughput of 156.45 MMT during FY 2025-26, marking a 4.01% growth compared to the previous financial year. This performance stands as the best in the port's history since it first became operational in 1966. Despite challenging market conditions, such as a decline in export demand for iron ...Read More >
New Delhi [India], April 3 (ANI): The Ministry of Steel-owned NMDC has registered its highest-ever iron ore production output at 53 million tonnes in the Financial year 2025-26, the Ministry of Steel said in a press release on Thursday. The ministry noted that NMDC has emerged as the first company in the India mining history to surpass the 50 million tonnes annual production mark. The company's iron ore production jumped 51% on year to 5.35 million tonnes in March and posted a growth of a robust 40% over the corresponding year in iron ore sales. "The total production output reached 53.15 MT w ...Read More >
New Delhi, Jul 15 (PTI) Two people died and four others were injured after a fire broke out at a house in east Delhi's Old Govindpura area on Tuesday evening, an official said. Police have identified the deceased as Tanveer (28) and Nusrat. A call was received at Jagatpuri police station at 8.46 pm regarding a fire incident at Band Gali, Old Govindpura, Deputy Commissioner of Police (Shahdara) Prashant Gautam said. When a police team reached the spot, it found that 10 people were trapped inside a residential building that caught fire, the DCP said. With the help of police personnel and fir ...Read More >
New Delhi, Jul 3 (PTI) Vedanta registered a decline in production of saleable steel, oil and gas, and refined metal in the first quarter of the current fiscal year. However, aluminium production rose marginally by 1 per cent to 6,05,000 tonnes during the first quarter and the iron ore output also increased by 42 per cent to 1.8 million tonnes during the period. Also Read | Who Is Soham Parekh, Indian Techie Accused of Duping Multiple Companies? What's His Reaction to Allegations of Moonlighting?. The production of saleable steel dropped 2 per cent to 3,49,000 tonnes, in case of refined meta ...Read More >
New Delhi, Jul 4 (PTI) Jindal Steel on Friday said it has bagged a 50-year mining lease for the Roida-I iron ore and Manganese block located in Keonjhar district of Odisha. The company has secured a letter of intent (LoI) from the Odisha government for the grant of the said mining lease, Jindal Steel said in a statement. Also Read | Kolkata Fatafat Result Today: Kolkata FF Result for July 04, 2025 Declared, Check Winning Numbers and Result Chart of Satta Matka-Type Lottery Game. Spread across 104.84 hectares, this mineral resource significantly enhances Jindal Steel's raw material security ...Read More >
New Delhi, Jul 9 (PTI) The proposed 50 per cent import tariff on copper announced by US President Donald Trump will not have any impact on Indian companies as the country is copper-deficient, according to an industry official. Also, Coal and Mines Minister G Kishan Reddy on Wednesday said India will discuss the impact of US tariffs on copper. Also Read | Belagavi Shocker: 3 of Family Members Die by Suicide After Consuming Poison Over Debt in Karnataka. International Copper Association India Managing Director Mayur Karmarkar said, "India is a copper-deficient country, and its export, as such ...Read More >
Nagpur: Surjagarh Iron Ore Mines of Lloyds Metals and Energy Ltd (LMEL) have brought laurels to Gadchiroli district by bagging 5-star rating from the Indian Bureau of Mines (IBM) under the Union Ministry of Mines. Union minister of coal & mines G Kishan Reddy presented the 5-Star Rating memento and certificate to senior officials of LMEL in a ceremony held at Rajasthan International Centre, Jaipur, on July 7. Surjagarh mines have won this national recognition for its stellar performance in operational excellence and green innovation in 2023-24. Reddy presented the award to LMEL officials in pr ...Read More >
Bhubaneswar, Apr 7 (PTI) Odisha Chief Minister Mohan Charan Majhi on Tuesday urged mining leaseholders and industries to increase mineral production to meet the growing demand for iron ore amidst the state's rapid industrialisation. Presiding over a high-level meeting with mining leaseholders and industrialists, Majhi assured that the government would provide full support for mining activities. He called for enhanced production and dispatch, in line with the minimum mandatory limits under the M ...Read More >
India's largest iron ore producer, NMDC, had previously reset the prices of the key raw material of steel on August 1 to ₹6,100 for Baila Lump and ₹5,250 for Baila Fines. State-owned miner NMDC has reduced iron ore prices by ₹550 per tonne of Baila Lump and by ₹500 for the same quantity of Fines effective October 22. Revising the prices after almost three months, the company said the new, per tonne price of Baila Lump is ₹5,550, while that of Baila Fines is ₹4,750. These are FOR pri ...Read More >
The company is increasing its stake in an Australian coking coal asset and acquiring a project in Mozambique. Domestically, JSW Steel is expanding iron ore mining in Karnataka and Goa. New mines are set to begin production soon. JSW Steel is ramping up efforts to enhance its in-house raw material availability through a mix of domestic expansion and strategic offshore acquisitions, Joint Managing Director and CEO Jayant Acharya has said. "We continue to strengthen that piece through a well-diver ...Read More >
Bhubaneswar, Mar 31 (PTI) Seven Odisha government-run companies and corporations incurred a loss of Rs 794.98 crore during the financial year 2022-23, the CAG said in a report. Comptroller and Auditor General of India (CAG) audited the financial performance of the State Public Sector Enterprises (SPSEs) for the financial year 2022-23 and mentioned its findings in a report, which was laid before the assembly on Tuesday. Of the 29 government companies and corporations audited by the CAG, seven entities incurred a loss of Rs 794.98 crore during the 2022-23 fiscal. These seven public sector ent ...Read More >
New Delhi, Apr 6 (PTI) State-owned NMDC has increased the prices of iron ore by up to 11.1 per cent, according to a regulatory filing. The company, which is the country's largest iron ore producer, has increased the prices with effect from April 5, 2026. As per the regulatory filing, the prices of Baila Lump -- high-grade (65.5 per cent Fe) iron ore lump produced by the company from the Bailadila mines in Chhattisgarh, have been increased by 10.4 per cent. While prices of Baila Fines -- high-g ...Read More >
Tata Steel is bolstering its iron ore supply for its planned 40 MTPA steel production by 2030. With four mine leases expiring in 2030, the company is operationalizing two new mines and negotiating with NMDC and OMC for additional ore. These strategies aim to secure the over 60 MT of iron ore required for the expanded steel capacity.Tata Steel has initiated discussions with state-run miners NMDC and Odisha Mining Corporation (OMC) to secure future iron ore supplies as the company ramps up its dome ...Read More >
Nagpur: Gas Authority of India Limited (Gail) may pump LNG from Adani Group's Dhamra port in the eastern coastal state of Odisha through its pipeline connecting Nagpur to Jharsuguda. Gail is laying a gas pipeline from Mumbai to Nagpur, along the Samruddhi Expressway, with the pipeline extending further to Jharsuguda in the east.Adani has an LNG terminal at Dhamra port on the east coast and is delivering LNG to Gail's metering stations there. The facility will enable Gail to charge up the pipeline from both the east and west coasts. A two-way pumping of gas also helps prevent a pressure drop in ...Read More >
Bhubaneswar: Seven state-run companies and corporations in Odisha posted a combined loss of ₹794.98 crore in the financial year 2022-23, according to a report by the Comptroller and Auditor General of India (CAG) tabled in the Assembly on Tuesday. The audit assessed the financial performance of 29 State Public Sector Enterprises (SPSEs), of which seven entities reported losses during the fiscal. The total loss marks a significant rise from ₹453.11 crore recorded by the same set of entities in 2021-22. The bulk of the losses was attributed to two enterprises. GRIDCO Limited alone accounted fo ...Read More >
Bhubaneswar: East Coast Railway (ECoR) has once again reaffirmed its position as the premier freight handling zone of Indian Railways, achieving an all time high freight loading of 286.3 Million Tonnes (MT) during the financial year 2025-26. This marks a significant increase of 27 MT over the previous year's loading of 259.25 MT, underscoring the zone's consistent growth and operational excellence. In tandem with the rise in freight loading, the zone also recorded a substantial increase in freight earnings. During 2025-26, East Coast Railway earned ₹29,456.60 crore from freight operations, co ...Read More >
Railways is also enhancing passenger convenience at major stations across the country with dedicated holding areas North Western Railway on Tuesday announced measures to ease passenger travel during the summer vacation, including the operation of holiday special trains and the addition of extra coaches to several long-distance trains. Amit Sudarshan, Chief Public Relations Officer (CPRO) of North Western Railway, said, "Passenger load on the railway is very high during the summer vacation, due ...Read More >
New Delhi, Apr 1 (PTI) Railway Ministry on Wednesday said that a record 1,670 million tonnes of cargo and 741 crore passengers were transported in the financial year 2025-26, registering over 3 per cent annual growth in both sectors. The cargo transport saw an increase of 3.25 per cent, while the passengers sector rose by 3.54 per cent, it said. The total number of passengers carried rose to 741 crore in 2025-26, as compared to 716 crore in 2024-25, reflecting sustained growth in rail usage across the country, the ministry said in a press note. "Correspondingly, total revenue reached approx ...Read More >
Visakhapatnam: The Visakhapatnam Port Authority has achieved a historic milestone by recording its highest-ever cargo throughput of 91.17 million metric tonnes in the financial year 2025-26. This represents a growth of over 10 per cent compared to the previous year. The achievement not only surpasses the prior record of 82.62mmt but also reinforces the port's position among India's leading ports, marking another significant milestone in its 92-year history, according to VPA chairperson, M Angamuthu. The port's success was celebrated at a stakeholders' meeting on April 2, where Angamuthu com ...Read More >
Hyderabad, January 02, 2025: State miner NMDC determined to reach the 50 MT milestone in FY25 recorded its best ever December month production since inception. In December 2024, NMDC produced 4.71 MT, achieving a 5.13% growth over CPLY, and sold 3.91 MT. The company reported cumulative production of 30.77 MT and cumulative sales of 31.80 MT by the end of CY2024. Despite the cumulative figures dipping marginally compared to the previous year, NMDC's exceptional third quarter performance conserved overall momentum and signalled a promising Q4. The 13.29 MT produced in the third quarter marks th ...Read More >
New Delhi, April 2 (SocialNews.XYZ) India holds rare earth oxide resources of approximately 8.52 million tonnes, but remains dependent on imports for rare earth magnets and related products due to low-grade domestic deposits, regulatory constraints and a limited processing industry, the Parliament was informed on Thursday. In a written reply in Rajya Sabha, Union Minister of State for Science and Technology, Dr Jitendra Singh, said the Atomic Minerals Directorate for Exploration and Research has identified 7.23 million tonnes of total rare earth oxide equivalent contained in monazite deposits ...Read More >
New Delhi, April 2 (IANS) India's largest iron ore producer and miner, NMDC achieved a production of 53.15 MT of iron ore in FY26, becoming the first company in India's mining history to surpass the 50 MT annual production mark, the government said on Thursday. The company produced 5.35 MT and sold 5.90 MT of iron ore in the month of March 2026, marking exceptional growth of 51 per cent and 40 per cent, respectively over the previous year, an official statement said. The total production during the fiscal grew 21 per cent YoY and sales reached 50.23 MT, with a 13 per cent jump, marking its b ...Read More >
Bhubaneswar: Amid the row over transfer of Ichchapuram-Palasa section from Khurda Road railway division to the proposed Visakhapatnam division of South Coast Railway (SCoR), commerce and transport minister Bibhuti Bhusan Jena on Saturday said the new administrative arrangement will not compromise Odisha's interest in any manner.Protecting Odisha's interests and strengthening railway connectivity is our priority. "Not even an inch of Odisha's railway track will go to any other state. Since there is no major freight transport station in the Palasa-Ichchhapuram section, it will have no impact on ...Read More >
Fadnavis will lay the foundation stone for the 4.5-MnTPA capacity at Konsari on July 22, 2025. He will also inaugurate the 5 Million Tonnes Per Annum (MnTPA) iron ore grinding plant at Hedri in Gadchroli district. The grinding plant has been constructed by the Llyods Metals & Energy Limited (LMEL) and made functional in a record time of just one year. LMEL MD B Prabhakaran said: "Not only the foundation stone for Vidarbha first Integrated Steel Plant is being laid at Konsari in Gadchiroli distr ...Read More >
New Delhi: The earnings of Indian Railways from passenger movement rose 6% to around Rs 80,000 crore in 2025-26, while freight revenue lagged, clocking a 1.4% rise to Rs 17.8 lakh crore.Data showed that the national transporter carried a record 741 crore passengers during the last financial year and freight loading was at an all-time high of 1,670 million tonnes, although it was lower than the target of 1,700 MT.Separate data also showed that railways and road transport ministries utilised their entire capex for FY26 of around Rs 5.5 lakh crore.Road transport ministry officials said highway co ...Read More >