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: Consumers across India are set to benefit from reduced prices of Compressed Natural Gas (CNG) and domestic Piped Natural Gas (PNG) as the Petroleum and Natural Gas Regulatory Board (PNGRB) announced a tariff rationalization that will come into effect from January 1, 2026. In an exclusive interview, AK Tiwari, Member, PNGRB, said that the new unified tariff structure will result in savings of Rs 2-3 per unit for consumers, depending on the state and applicable taxes. The regulator has simplified the tariff structure by reducing the number of zones from three to two. Under the previous system announced in 2023, tariffs were divided into three distance-based zones. Rs 42 for distances up to 200 kilometers, Rs 80 for 300-1,200 kilometers, and Rs 107 for distances beyond 1,200 kilometers. "We have rationalized the tariff. Instead of three zones, there will be two zones, and the first zone will be applicable for CNG and domestic PNG customers on a pan-India basis," Tiwari explained. The unified rate for Zone 1 has now been fixed at Rs 54, down from the earlier rates of Rs 80 and Rs 107. The new tariff structure will benefit consumers across 312 geographical areas covered by 40 City Gas Distribution (CGD) companies operating in India. "This will benefit consumers in the transport sector who use CNG and households that use PNG in their kitchens," Tiwari said. The PNGRB has mandated that the benefit of this rationalized tariff must be passed on to consumers, and the regulator will actively monitor compliance. "Our role is to balance the interest of consumers as well as the operators in this business," Tiwari added. Discussing the expansion of CNG and PNG infrastructure, Tiwari said that licenses have been granted to cover the entire country, with operators including public sector undertakings (PSUs), private companies, and joint ventures. The PNGRB is supporting CGD companies by facilitating interactions with state authorities, which has resulted in several states reducing Value Added Tax (VAT) and streamlining permission processes. "We are supporting them not just as a regulator but as a facilitator," he said. The government's push to provide subsidized and rationalized gas for CNG and domestic PNG consumption is expected to drive growth in natural gas usage across the country, with the CGD sector identified as the primary growth driver for natural gas consumption in India. (ANI)
Mumbai, Feb 10: The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but eventually settled at 87.45, up 5 paise, following RBI intervention. The American currency gained in the overseas market after US President Donald Trump's plans to impose 25 per cent tariffs on steel and aluminum imports, along with reciprocal tariffs targeting countries taxing US exports. The move has added jitters over the global trade war with China's reciprocal duties coming into effect, they said. At the interban ...Read More >
MUMBAI (Reuters) -Billionaire Mukesh Ambani-led Reliance Group and U.S.-based BlackRock have received approval from India's markets regulator to start operations for their mutual fund business, the Indian company said on Tuesday. Jio Financial Services, a part of the Reliance Group, had in July 2023 announced the formation of a 50:50 joint venture with the world's largest asset manager to launch asset management services in India. The JV, Jio BlackRock Asset Management, plans to launch a range of investment products in the coming months based on a "digital first" approach for retail and inst ...Read More >
The Indian government has awarded fiscal incentives totaling Rs 4,150 crore to four companies, including the BCGCL joint venture, for developing coal gasification projects aimed at producing ammonium nitrate, synthetic natural gas, and ethanol. This initiative is part of India's Rs 8,500 crore Coal Gasification Incentive Scheme. In a strategic move, the Indian government on Thursday granted fiscal incentives amounting to Rs 4,150 crore to four companies to bolster coal gasification projects. Amo ...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 >
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 >
New Delhi, June 6 (SocialNews.XYZ) External Affairs Minister (EAM) S. Jaishankar has urged the India-Central Asia Business Council to recommend a roadmap for further deepening of India-Central Asia ties in trade, economic and investment. Addressing the Business Council meeting in the national capital, EAM Jaishankar highlighted three broad objectives for strengthening the economic partnership -- deepen existing cooperation, diversify the trade basket and introduce sustainability and predictability in economic interactions. "One, is to deepen the existing cooperation both in terms of volume a ...Read More >
New Delhi, June 6 (SocialNews.XYZ) Top bankers on Friday hailed the Reserve Bank's decision to reduce repo rate by 50 basis points to 5.50 per cent and cash reserve ratio (CRR) by 100 basis points in four tranches, saying the policy move is expected to provide the necessary drive for credit expansion in priority sectors which will enhance the financial inclusion. Besides this, the revision in CPI inflation to 3.7 per cent for FY26 also shows the RBI's confidence in inflation being aligned with its 4 per cent target. "The decision in CRR cut, which is expected to release Rs 2.5 lakh crore in ...Read More >
At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close The rupee fell 2 paise to trade at 84.49 against the U.S. dollar in early trade on Friday (November 29, 2024) dragged down by significant foreign fund outflows and month-end dollar demand from importers. Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks. At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close. On ...Read More >
As per Moneycontrol's calculations, a 7 per cent growth in the remaining two quarters will put India's GDP at 6.5 per cent. The Indian economy would find it challenging to achieve over 7 per cent growth for the fourth consecutive year, economists said. They pointed out that the second-quarter (Q2) Gross Domestic Product (GDP) data, which was announced on November 29, has made the task even more daunting for the government. "A sharper than expected growth slowdown in Q2 has tilted risks to our outlook of 6.8 per cent for the current fiscal downwards," said DK Joshi, chief economist, Crisil. ...Read More >
FRANKFURT (Reuters) - Import tariffs expected to be implemented by the administration of U.S. President-elect Donald Trump could lower economic growth and inflation in the 20 nations sharing the euro, European Central Bank board member Piero Cipollone said on Tuesday. Most economists agree that the possible tariffs would impact growth, though views diverge on the effect on consumer prices. Some argue the U.S. trade barriers will push up the value of the dollar, making imports of key commodities more expensive, while likely retaliation from Europe will also raise costs. Cipollone, speaking i ...Read More >
Alipurduar, May 29 (UNI) Prime Minister Narendra Modi on Thursday laid the foundation of a Rs 1,010 crore City Gas Distribution Project in West Bengal's northern district of Alipurduar and said that the state's development is key to India's future. The project aims to supply Piped Natural Gas (PNG) to 2.5 lakh households, over 100 commercial establishments, and establish 19 CNG stations. "The City gas distribution project in Alipurduar is our commitment to strengthening the region's clean energy infrastructure," Modi said at the outset. "Bengal's development is key to India's future," Modi ...Read More >
Trump warns BRICS nations against replacing US dollar Dec 2 (Reuters) - A gauge of emerging market stocks rose on Monday, driven by positive manufacturing data from China and expectations of continued policy support from Beijing, while India's rupee hit a record low because of weaker-than-expected economic data. As of 0932 GMT, the MSCI's index for emerging market stocks had risen by 0.7%, on track for its biggest percentage gain in over three weeks. China's blue-chip CSI 300 climbed 0.8%, and the Shanghai Composite index jumped 1.1% after a private survey indicated that Chinese factory act ...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: The rupee declined 14 paise and touched the crucial 86.00-mark (provisional) for the first time against the US dollar Friday as it failed to resist pressure from a stronger American currency and huge outflow of foreign funds. Surging crude oil prices overseas and negative sentiment in domestic equity markets also weighed down the Indian currency, forex traders said. Also, dollar strengthened on increased demand amid the anticipation of restrictive trade measures by the new US administration after Donald Trump takes over as president January 20. At the interbank foreign exchange, the ...Read More >
New Delhi, Jun 2 (PTI) Global automobile makers including Mercedes Benz, Skoda-Volkswagen, Hyundai and Kia have shown interest in manufacturing electric cars in India, Union Heavy Industries Minister H D Kumaraswamy said on Monday. The said companies have expressed interest during the stakeholder discussions between the government and the industry regarding the 'Scheme to Promote Manufacturing of Electric Passenger Cars in India', the detailed guidelines for which were unveiled by the minister. While the scheme was notified on March 15 last year, its guidelines were issued on Monday. Offici ...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 >
Benchmark indices Sensex and Nifty rallied for the third straight session on Tuesday (December 3, 2024) amid buying in blue-chip stocks like HDFC Bank, Reliance Industries and firm trends in global markets. The BSE benchmark Sensex jumped 597.67 points or 0.74% to settle at 80,845.75. During the day, it surged 701.02 points or 0.87% to 80,949.10. The NSE Nifty went up by 181.10 points or 0.75% to 24,457.15. From the 30-share Sensex pack, Adani Ports surged nearly 6%. NTPC, Axis Bank, State Bank of India, Larsen & Toubro, UltraTech Cement, Tata Motors, HDFC Bank and Reliance Industries were ...Read More >
New Delhi [India], December 3 (ANI): Oilfields (Regulation and Development) Amendment Bill, 2024 to expand the definition of mineral oils and include petroleum and natural gas passed in the Rajya Sabha on Tuesday. The bill was introduced by Union petroleum and natural gas minister Hardeep Singh Puri for consideration and passing. The Bill will regulate the exploration and extraction of natural gas and petroleum. The amended bill expands the definition of mineral oils to include petroleum and natural gas in it. Also Read | Pune: Doctors Perform Rare Laser Surgery on Woman Pregnant With Monoam ...Read More >
Alipurduar (West Bengal) [India], May 29 (ANI): Prime Minister Narendra Modi on Thursday laid foundation stone of City Gas Distribution project in Alipurduar and Cooch Behar districts in West Bengal on Thursday. The project, worth over Rs 1010 crore, aims to provide Piped Natural Gas (PNG) to more than 2.5 Lakh households, over 100 commercial establishments, and industries, and Compressed Natural Gas (CNG) to vehicular traffic by establishing around 19 CNG stations in line with the Minimum Work Program (MWP) targets stipulated by the Government. Also Read | Kerala Lottery Result Today 3 PM L ...Read More >
New Delhi, June 5 (UNI) The Delhi International Open Grandmasters Chess Tournament (Delhi GM Open) is set to make a grand return this June with a record prize pool of Rs 1.21 crore. Triveni Sports has come on board as the Associate Sponsor for the 21st edition, marking a major boost for one of India's most prestigious chess events. Organized by the Delhi Chess Association (DCA), the tournament will take place from June 7 to 14 here, drawing over 2,500 players from more than 15 countries, including 20 Grandmasters ,across three rating-based sections. Held under the aegis of the All-India Ch ...Read More >
Trump's pressure on countries to remain tied to a US-dollar-based financial system could backfire, with potential increased motivation for BRICS to create alternatives. While the dollar's dominance persists due to existing economic strengths, recent global currency agreements indicate a cautious shift away from reliance on the greenback.Donald Trump's pressure on countries around the world to stay anchored to a US-dollar-based financial system is a tactic that risks backfiring, market watchers say. Dollar dominance looks set to continue for the foreseeable future and emerging nations' idea of ...Read More >
CHENNAI: The Chennai Metro Asset Management Limited, a joint venture of Chennai Metro Rail Limited (CMRL) and Tamil Nadu Industrial Development Corporation (TIDCO), has signed the contract for the development of a multimodal facility complex (MMFC) and the redevelopment of the Kuralagam Building at Broadway. The project to redevelop the property at a cost of Rs 566.59 crores was awarded to Bridge and Roof Company (India) Limited. The work is being executed by the Chennai Metro Asset Management Limited (CMAML) along with the Greater Chennai Corporation (GCC). As per the contract agreement sig ...Read More >
Mumbai, Jun 6 (PTI) Benchmark equity indices Sensex and Nifty declined in early trade on Friday ahead of the RBI monetary policy outcome. Moreover, a sluggish trend in global equity markets and fresh foreign fund outflow also drove investors to stay on the sidelines. Also Read | Lucknow Toddler Rape Case: Man Accused of Abduction, Sex Assault of 3-Year-Old Girl Killed in UP During Police Encounter. The 30-share BSE Sensex declined 159.93 points to 81,282.11 in early trade. The 50-share NSE Nifty dropped 27.65 points to 24,723.25. From the Sensex firms, Tata Motors, Bajaj Finance, ICICI Ban ...Read More >
Mumbai: The rupee slumped to its all-time low of 84.76 (provisional) against the US dollar after dropping 8 paise on Wednesday amid a strengthening greenback and increase in crude prices. Forex traders said a positive trend in domestic equity markets and foreign fund inflows supported the local unit at lower level. At the interbank currency exchange, the rupee opened at 84.66 and traded in the range of 84.65-84.76. Eventually it settled at 84.76 (provisional), 8 paise lower than Tuesday's close of 84.68. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said, the rupee lost initial ...Read More >
Mumbai, Dec 13 (PTI) Benchmark indices Sensex and Nifty slumped on Friday morning dragged down by metal stocks, foreign fund outflows and weak global cues. The 30-share BSE benchmark Sensex tumbled 1,207.14 points to 80,082.82 in the late morning trade. The NSE Nifty tanked 367.9 points to 24,180.80. Among the 30-share Sensex blue-chip pack, JSW Steel, Tata Steel, IndusInd Bank, Bajaj Finserv, Axis Bank, Larsen & Toubro, ITC and Mahindra & Mahindra were the biggest laggards. Bharti Airtel and Hindustan Unilever were the gainers. Foreign Institutional Investors (FIIs) offloaded equities wor ...Read More >
Ahmedabad, Jan 27 (VOICE) Adani Total Gas Ltd (ATGL) on Monday reported a 12 per cent increase in revenue from operations in the third quarter of FY25 at Rs 1,397 crore.EBITDA for the nine months of the current fiscal stood at Rs 893 crore, up by 6 per cent (year-on-year), India's leading energy transition company said in a statement. "ATGL maintained its growth trajectory, focusing on customer centric approach and delivering a robust operational performance with a notable 15 per cent year-on-year increase in volume," said Suresh P Manglani, ED and CEO, ATGL. Despite the reduced APM gas allo ...Read More >
New Delhi, May 23 (PTI) GMR Airports saw its consolidated loss widen to Rs 253 crore in the three months ended March 2025 even as total income rose during the same period. The company had a loss of Rs 168 crore in the year-ago period. The figures are after tax for continuing operations. According to a regulatory filing on Friday, GMR Airports' total income climbed to Rs 2,977 crore in the fourth quarter of 2024-25 financial year from Rs 2,570 crore in the year-ago period. For the 2024-25 fiscal, the company's loss narrowed to Rs 817 crore from Rs 829 crore in the same period a year ago. D ...Read More >
MUMBAI: India's stock markets on Monday were trading lower as weak global cues and a decline in Asian markets weighed on investor sentiment. The benchmark indices, Sensex and Nifty, struggled throughout the day, with most sectors witnessing losses. At the closing bell, the BSE Sensex had dropped 319.22 points, or 0.41 per cent, to settle at 77, 186.74, while the Nifty was down 121.10 points, or 0.52 per cent, to close the trading session at 23, 361.05. The decline in the Indian share market is due to US President Donald Trump's decision to impose a 25 per cent tariff on imports from Canada ...Read More >
Mumbai: Benchmark stock indices Sensex and Nifty rebounded nearly 2 per cent on Tuesday in line with a recovery in Asian peers after US President Donald Trump delayed tariffs on Mexico and Canada for a month. The 30-share BSE Sensex jumped 1,397.07 points or 1.81 per cent to settle at a month's high of 78,583.81. During the day, it surged 1,471.85 points or 1.90 per cent to 78,658.59. The NSE Nifty soared 378.20 points or 1.62 per cent to 23,739.25, a level not seen since January 3. From the 30-share blue-chip pack, Larsen & Toubro rallied nearly 5 per cent. Adani Ports, IndusInd Bank, Tata ...Read More >