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 [India], October 27 (ANI): Energy-intensive artificial intelligence (AI) data centers are expected to drive a sharp rise in power consumption, with data center power usage projected to increase by 160 per cent by 2030, according to a report by Goldman Sachs. The report noted that after nearly a decade of flat power demand growth, the emergence of AI-driven data centers is set to transform the global energy landscape. It stated "data center power usage is expected to increase +160 per cent by 2030, driven by energy intensive AI data centers" The report highlighted that power generation is only one part of the issue, as transmission remains a significant bottleneck in bringing new power plants online. Citing the example of United States, the report stated that the most data centers are powered by natural gas due to its abundant supply. However, challenges in permitting, transmission, and critical supply chains--such as those related to gas turbines, have led to long timelines of around 5-7 years for getting new natural gas plants operational and connected to the grid. The report also estimated that about 60 per cent of the data center demand growth will need to be met with new capacity. This new capacity is likely to be powered by 30 per cent natural gas combined cycle gas turbine (CCGT), 30 per cent natural gas peakers, 27.5 per cent solar, and 12.5 per cent wind. The report further stated that while natural gas remains a key source of power, renewables are expected to play a growing role as they offer faster and more efficient ways to secure incremental power supply amid the long development timelines for gas-based plants. Hyperscale companies are adopting a mixed approach by combining different power sources to meet short-term energy needs. At the same time, they are investing in long-term solutions such as nuclear energy, though cautiously. Tech giants have been willing to invest in power infrastructure but have avoided direct development risk or asset ownership. Instead, they are turning to strategies such as forward-start power purchase agreements (PPAs) to accelerate progress. The report cited Alphabet's recent agreement with Elementl Power to pre-position three sites for advanced nuclear energy as an example of this growing trend among major technology companies to secure sustainable and reliable energy for future AI operations. (ANI)
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 >
Mark Carney declined to answer if he believed Indian PM had a role in murder of Sikh activist Hardeep Singh Nijjar Canada's prime minister Mark Carney has defended his decision to invite India's prime minister Narendra Modi to the upcoming G7 summit in Alberta, despite Canada's federal police's conclusion that the murder of a prominent Sikh activist in British Columbia was orchestrated by the "highest levels" of the Indian government. Carney declined to answer reporters' questions over whether ...Read More >
Kolkata (West Bengal) [India], June 27 (ANI): A female student was allegedly gang-raped inside a law college in Kolkata's Kasba on Wednesday evening. The police have arrested all three accused within 24 hours. The three accused, named as Monojit Mishra (31), Zaib Ahmed (19), and Pramit Mukhopadhyay (20), were former students or staff members of the same law college. Also Read | Student Gang-Raped at South Kolkata Law College: Police Arrest 3 Youths for Sexually Assaulting Young Woman Inside Law College. According to the police, the accused named in the FIR will be produced before the A.C.J. ...Read More >
Patna: Four private power companies -- Adani Power, JSW Energy, Torrent Power and Bajaj Group's Lalitpur Power -- have shown interest in setting up a 2,400-MW thermal power plant at Pirpainti in Bihar's Bhagalpur district, an energy department official said here on Friday. It will be first private sector investment -- a whopping Rs 21,400 crore -- in power sector in Bihar. Under the project, three plants -- each of 800-MW capacity -- will be set up at Pirpainti as part of Tariff-based Competitive Bidding (TBCB) process, for which Bihar State Power Generation Company Limited (BSPGCL), Patna, wi ...Read More >
Gandhinagar (Gujarat) [India], June 28 (ANI): Gujarat Chief Minister Bhupendra Patel on Saturday visited the site of the world's largest upcoming Hybrid Renewable Energy (RE) Park near Khavda and held a review meeting with representatives from various companies. On this occasion, he inspected the progress of solar and wind energy generation from the Central Control Room, reviewed the ongoing work with officials, and offered guidance to further advance the vision of green energy, said release. To pave the way for a Viksit Gujarat through green growth, Prime Minister Shri Narendra Modi laid th ...Read More >
Gujarat Urja Vikas Nigam (GUVNL) has issued a request for selection for procuring power from 500 MW solar projects on a build, own, operate basis. The tender includes a greenshoe option for an additional capacity of up to 500 MW, increasing the potential total to 1,000 MW. Bids must be submitted by June 13, 2025. Bids will be opened on June 18. Bidders must furnish an earnest money deposit of ₹928,000 (~$10,895)/MW, a tender document fee of ₹25,000 (~$293.50) plus 18% GST, and a tender processing fee of ₹300,000 (~$3,522) plus 18% GST. Successful bidders must submit a performance bank guara ...Read More >
VISAKHAPATNAM: Energy Minister Gottipati Ravi Kumar inaugurated Andhra Pradesh's first Super ECBC (Energy Conservation Building Code) compliant building at Sagar Nagar in Visakhapatnam on Friday. Terming it a landmark in sustainable infrastructure, he emphasised the government's commitment to energy efficiency and green design in public facilities. The facility will serve as a national-level training hub for power sector staff. He urged power utilities to expedite 20 lakh rooftop solar connections, targeting 10,000 in each Assembly segment. He reaffirmed nine-hour uninterrupted power for agri ...Read More >
New Delhi [India], June 30 (ANI): Prime Minister Narendra Modi is set to embark on a multi-nation visit to Ghana, Trinidad and Tobago, Argentina, Brazil, and Namibia in the first week of July, with a primary focus on attending the 17th BRICS Summit in Rio de Janeiro and holding bilateral meetings with key global leaders, officials said on Monday. Addressing a special briefing by the Ministry of External Affairs (MEA) on the Prime Minister's visit to Ghana, Trinidad & Tobago, Argentina, Brazil, and Namibia, Secretary (Economic Relations) Dammu Ravi said, "The 17th BRICS Summit is taking place ...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 >
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 >
New Delhi, Jun 6 (PTI) State-owned power giant NTPC on Friday said its Group installed generation capacity has reached 80,515 MW, after the first unit of 250 MW of the Tehri hydro Pumped Storage Project (PSP) began commercial supply of electricity. THDC India Ltd, a subsidiary of NTPC Ltd, has declared the first 250 MW unit of its 1,000 MW Tehri PSP (4x250 MW) commercially operational with effect from 00:00 hours on June 7, 2025, according to a regulatory filing. The total installed and commercial capacity of the NTPC group will become 80,515 MW, it added. NTPC is India's largest integrated ...Read More >
New Delhi, Jun 30 (PTI) AM Green BV will buy Japanese financial service firm Orix Corp's 17.5 per cent stake in clean energy producer Greenko Energy Holdings for USD 1.28 billion, the firms said on Monday. AM Green is owned by the founders of Greenko, Anil Chalamalasetty and Mahesh Kolli. Post this transaction, AMG will own around 25 per cent of Greenko, whose largest owner is Singapore's sovereign wealth fund GIC Pte with a 58 per cent stake. Orix will transfer 17.5 per cent holding in Greenko, out of its total ownership of 20 per cent, to AM Green Power BV (a subsidiary of AM Green BV). 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 >
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 >
Ahmedabad (Gujarat) [India], June 30 (ANI): Adani Green Energy Limited (AGEL) has achieved a significant milestone by surpassing 15,000 megawatts (MW) of operational capacity, specifically reaching 15,539.9 MW. According to the Adani group, this accomplishment marks the fastest and largest capacity addition in India to date. The operational portfolio includes ~11,005.5 MW of solar, ~1,977.8 MW of wind, and ~2,556.6 MW of wind-solar hybrid capacity. Also Read | TikTok Deal To Be Announced Soon in US? Donald Trump Says He Has Found a Group of 'Very Wealthy People' To Buy ByteDance-Owned App, I ...Read More >
New Delhi: Prime Minister Narendra Modi is set to embark on a multi-nation visit to Ghana, Trinidad and Tobago, Argentina, Brazil, and Namibia in the first week of July, with a primary focus on attending the 17th BRICS Summit in Rio de Janeiro and holding bilateral meetings with key global leaders, officials said on Monday. Addressing a special briefing by the Ministry of External Affairs (MEA) on the Prime Minister's visit to Ghana, Trinidad & Tobago, Argentina, Brazil, and Namibia, Secretary (Economic Relations) Dammu Ravi said, "The 17th BRICS Summit is taking place on July 5 and July 6 in ...Read More >
Anuj Kumar, Director & CEO of CAMS, highlights that despite recent market corrections, the company expects FY25 to be one of its strongest years. CAMS continues to dominate by winning 70-80% of new bids, focusing on execution and margin expansion, and anticipates significant revenue and profit growth driven by mutual funds and associated business lines.Anuj Kumar, Director & CEO, CAMS, says there has been some market correction and some flattening of the mood in the last two months. But as things come back, we should be holding our projections and FY25 should be one of the strongest years in t ...Read More >
India's NTPC (previously the National Thermal Power Corporation) has launched its first 160 megawatt hours (MWh) CO₂ battery energy storage project, to be developed by Triveni Turbine and its energy partner Energy Dome. The project will be executed on a turnkey basis at NTPC's Kudgi plant in Karnataka, India. The initiative aligns with NTPC's strategy to diversify its energy portfolio and increase renewable power generation. The adoption of CO₂ battery technology also supports India's "Make in India" and "Atmanirbhar" (self-sufficiency) policies, offering opportunities for the domestic indu ...Read More >
Sample of Earth Minerals. (Representative) Quick Read Summary is AI generated, newsroom reviewed. India is negotiating with companies to create long-term rare earth magnet stockpiles. The initiative aims to reduce dependence on China, which controls 90% of magnet processing globally. The government is considering fiscal incentives to boost domestic production of rare earth magnets. New Delhi: India is holding talks with companies to establish long-term stockpiles of rare earth magnets by offering fiscal incentives for domestic production, people familiar with the matter said. Building ...Read More >
Mumbai: The Multi Commodity Exchange of India (MCX) has received approval from the Securities and Exchange Board of India (Sebi) to launch electricity derivatives, according to a regulatory filing on the BSE. These contracts -- linked to the price of electricity -- will allow power generators, distribution companies, and large consumers to hedge against price volatility and manage risks more effectively. "The electricity derivatives contracts will enhance efficiency in the power market," MCX said in its filing. The launch marks the resolution of a long-standing jurisdictional tussle over the ...Read More >
Pune : Cummins India Limited ("Cummins"), one of the leading power solutions technology providers, today announced the launch of its Battery Energy Storage Systems (BESS), expanding its sustainable solutions portfolio in line with Destination Zero strategy. This state-of-the-art energy storage solution is designed to support India's clean energy transition and strengthen the reliability of country's power infrastructure. Battery Energy Storage System (BESS) is emerging as reliable and efficient technology for addressing the energy transition requirements of key industries such as manufacturin ...Read More >
New Delhi: On this day in 2024, India defeated South Africa by 7 runs and lifted the T20 World Cup title at the Kensington Oval in Barbados. India posted a 177-run target for the Proteas in 20 overs after opting to bat first. Virat Kohli smashed 76 runs off 59 balls with the help of six boundaries and two maximums. Axar Patel also batted brilliantly and scored 47 runs off 31 balls, hitting four maximums and one boundary in his sensational knock. Chasing the target of 177 runs, Bumrah provided India their first breakthrough when he removed Reeza Hendricks in the second over of the run-chase, ...Read More >
New Delhi [India], June 4 (ANI): To meet the country's ambitious 500 GW target, India's renewable sector will need to double its annual capacity addition to 50 gigawatts (GW) over 2025-2030, S&P Global Ratings said in a report. This will mean almost doubling last year's capacity addition of 29GW. The global rating agency said capacity addition will require USD 175 billion and up to USD 150 billion for the expansion and strengthening of the transmission and distribution network. The next five years will be crucial as the country strives to meet its target of 500GW renewable capacity by 2030. ...Read More >
Delhi : Reinforcing its commitment to Carbon Neutrality and clean energy innovation, Toyota Kirloskar Motor (TKM) today exchanged a Memorandum of Understanding (MoU) with Bengaluru-based Ohmium International, a leading PEM hydrogen technology provider, to co-develop Green Hydrogen-based integrated power solutions in India. This strategic undertaking highlights Toyota's pivotal role in fuel cell technology and advancing Green Hydrogen as the clean fuel of the future. It highlights the company's relentless efforts to foster a robust Hydrogen economy across mobility and stationary applications. ...Read More >
Each year, The Washington Post surveys thousands of employees across the D.C. region, recognizing companies that stand out for leadership, work-life balance, and commitment to their people. In 2025, only 96 organizations earned a spot on the list, representing the best in finance, technology, healthcare, and beyond. DCS is a fast-growing Salesforce consultancy that's made its mark by combining technical expertise with a people-first approach. DCS has worked with hundreds of clients across variou ...Read More >
Chennai: If you're living in parts of Chennai, be prepared for a power cut today. The Tamil Nadu Generation and Distribution Corporation (TANGEDCO) has announced that several areas across the city will face electricity shutdowns on Monday, June 30, due to planned maintenance work. The power will be suspended from 9:00 am to 2:00 pm, affecting both residential and commercial areas. More than 40 locations are expected to experience the outage. Areas Affected by Today's Power Cut Besant Nagar 4th Main Road, 32 to 35 Cross Street, 3rd Avenue, 5th Avenue, Alcott Kuppam, Customs Colony 1st Street ...Read More >
he Australian government claimed on Thursday that the country is on track to meet its 2030 emissions reduction target, with new figures showing improved projections. In an annual climate change statement delivered to parliament, Minister for Climate Change and Energy Chris Bowen announced that Australia is projected to cut its greenhouse gas emissions by 42.6 per cent from 2005 levels by 2030 -- up from the 37-per cent cut projected in 2023.The government has committed to cutting Australia's emissions by 43 percent from 2005 levels by 2030, Xinhua news agency reported. "Our robust reforms an ...Read More >
PNN New Delhi [India], December 12: In the 21st century, the world is going green in phases, and therefore using renewable sources of energy isn't going to harm the environment, but it's going to benefit your pocket. On average, the IEA has anticipated an increase of renewable energy sources' capacity by 75% from 2022 to 2027, spearheaded by solar and wind energy. Renewable energy investment is already at more than $50 billion annually in the United States. It is projected to climb even higher as federal incentives such as the Inflation Reduction Act push this sector forward. To the industr ...Read More >
New Delhi, Jun 5 (PTI) India has always led in developer talent and now has a strong opportunity to lead in AI talent, OpenAI Global Chief Strategy Officer (CSO) Jason Kwon said on Thursday as the ChatGPT-maker launched OpenAI Academy in partnership with IndiaAI Mission. In an interview to PTI, Kwon said that India - which has the second largest number of ChatGPT users - is among the most important countries for OpenAI in terms of engagement. India has always had the "ingredients to succeed", he noted. OpenAI, he pointed out, is eyeing partnerships that will help build the future of AI infra ...Read More >
BHOPAL, 27 Jun: A memorandum of understanding (MoU) was inked between the MP Power Management Company and the NHPC on Friday in Bhopal for the purchase of 252 MW power allotted by the union Ministry of Power, an official said. On the basis of the contract, Madhya Pradesh will get 252 MW power from the NHPC's multipurpose hydropower project located in Lower Dibang Valley district of Arunachal Pradesh, an official said. The power purchase agreement (PPA) was signed by Chief General Manager of MP Power Management Company Rakesh Thukral and NHPC General Manager Omkar Yadav in the presence of Mad ...Read More >