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.
DUBAI: An Indian national was killed on Monday when an explosive-laden unmanned boat struck an oil tanker off the coast of Muscat Governorate, according to reports. "The Maritime Security Centre reported that the oil tanker MKD VYOM was attacked by an unmanned boat 52 nautical miles off the coast of Muscat Governorate," Oman's Ministry of Defence said in a statement. It said that the attack resulted in a fire and explosion in the engine room and the death of one crew member. The remaining 21 crew members were evacuated. The ministry did not identify the nationality of the deceased, but local media reported that the victim was an Indian crew member of the tanker. "The attack caused a fire and an explosion in the main engine room, leading to the death of an Indian crew member," Oman Observer reported.
A third vessel, Jag Vikram, is still in the west of the Strait of Hormuz, the data showed. The U.S.-Israeli war against Iran has all but halted shipping through the strait, but Iran says "non-hostile vessels" may transit the waterway if they coordinate with Iranian authorities. Green Asha and Green Sanvi have crossed the Gulf area and are in the eastern Strait of Hormuz, the data showed, taking the total number of Indian-flagged LPG carriers that have traversed the Strait to eight. India is gr ...Read More >
New Delhi: Amid the escalating West Asia conflict, another India-flagged liquefied petroleum gas (LPG) tanker Green Sanvi has safely sailed eastbound through the Strait of Hormuz, emerging as the seventh Indian vessel to traverse this vital maritime passage, according to ship tracking data. The tanker utilised a specified corridor within Iran's territorial waters to navigate the strategically sensitive waterway, as reported by Madhyamam. The tanker is loaded with approximately 44,000 tonnes of LPG -- roughly half a day's pre-conflict consumption in India, as per industry experts. Two additio ...Read More >
New Delhi: Two more Indian-flagged LPG tankers have safely crossed the war-hit Strait of Hormuz and are headed for Indian ports even as 16 other vessels remain stranded in the Persian Gulf, officials said Monday. LPG vessel Green Sanvi carrying 46,650 tonnes of LPG is scheduled to reach Indian port on April 7 while Green Asha with 15,500 tonnes of cargo is scheduled to touch Indian coast on April 9, said Mukesh Mangal, Additional Secretary in Ministry of Ports, Shipping & Waterways at a news briefing. "Indian maritime operations remain safe and uninterrupted amid West Asia crisis. 16 Indian- ...Read More >
A tanker with Iranian crude oil has been flashing India's west coast as its destination, according to maritime tracking sites, in what could be the first such import in nearly seven years. The Eswatini-flagged Ping Shun's transponders and AIS (automatic identity system) have signalled it is headed for the Vadinar offshore terminal and is expected to reach the facility by April 4, according to the Kpler-owned MarineTraffic and Winward, both providers of global commodity and ship data. At an inte ...Read More >
At least eight Indian ships have so far exited the Strait of Hormuz amid Iran war New Delhi: Iran has said that its "Indian friends" don't need "to worry" about the Strait of Hormuz, a key shipping route that has been disrupted since Israel and the United States attacked Tehran on February 28. "Our Indian friends are in safe hands, no worries," the Embassy of Iran in India said in a post on X on Thursday. Iran controls the Strait of Hormuz, a shipping route through which 20 per cent of the wo ...Read More >
New Delhi, April 4 (SocialNews.XYZ) Amid rising global supply concerns due to disruptions in the Strait of Hormuz, India has emerged as one of the countries maintaining steady maritime movement through the crucial route. Despite tensions triggered by the ongoing conflict involving the United States, Israel, and Iran, several Indian vessels have successfully navigated the narrow passage, which is vital for global oil and gas trade. Since February 28, at least eight Indian-linked ships have crossed the Strait safely, carrying essential energy supplies, according to NDTV Profit report. These i ...Read More >
A bench of Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad said the remains shall be collected by the DDG Shipping in the presence of the family members. "The remains shall then be sent to the FSL in Mumbai for DNA analysis and report. The copy of the report shall be supplied to the family," the court said. Dixit Solanki was killed on March 4 after an explosive-laden drone boat struck oil tanker MT MKD Vyom off the Oman coast on March 1. He was reportedly the first Indian casualty ...Read More >
NEW DELHI: Several oil tankers in Jammu caught fire on Wednesday. Emergency services responded quickly to the scene, averting a bigger tragedy involving people.No individuals people have been reported to be harmed, according to news agency PTI. However, two tankers with relatively less quantity of oil burst into flames and were complete gutted. The cause of the fire, that started with one tanker near the RTO office at Transport Nagar and spread to 4-5 other tankers, is not known.The area, home to numerous tankers and jhuggies, is considered highly vulnerable.Officials said that fire service pe ...Read More >
Mumbai: An India-bound LPG tanker successfully crossed the strategic Strait of Hormuz, marking a major development as global shipping continues to be impacted by the ongoing West Asia war. According to live tracking data from Marine Traffic, the India-flagged tanker Green Sanvi has transited the crucial chokepoint and is now en route to Mumbai. The vessel, owned by Mitsui O.S.K. Lines, is carrying approximately 46,000 metric tonnes of liquefied petroleum gas (LPG). 7th India-Flagged Vessel To Cross Hormuz Strait Amid Escalating Tensions Green Sanvi is the seventh India-flagged merchant vess ...Read More >
Mumbai, April 7: The Bombay High Court on Tuesday directed the Deputy Director General of Shipping to collect the mortal remains of seafarer Dixit Solanki, who was killed in a suspected drone boat attack off the Oman coast, and hand them over to the Forensic Science Laboratory at Kalina for a DNA test. HC directs DNA testing amid identification issues A bench of Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad ordered that the report, once received, be handed over to Dixit's family. The HC passed the order after being informed that Dixit's mortal remains had reached India on Sun ...Read More >
* Iran has allowed India-flagged tankers to pass through the Strait of Hormuz after talks. * Two Indian tankers, Pushpak and Parimal, are safely transiting the strategically vital strait. * A Liberian-flagged tanker with an Indian captain cleared the strait and docked in Mumbai. Did our AI summary help? Let us know. Switch To Beeps Mode New Delhi: Iran has dismissed reports claiming Tehran has allowed India-flagged tankers to pass through the Strait of Hormuz amid a worsening global energy ...Read More >
New Delhi: Amid escalating tensions in the Middle East, at least 10 foreign-flagged ships carrying energy supplies for India remain stranded in the Persian Gulf, while 18 Indian-flagged vessels are anchored near the strategically vital Strait of Hormuz, the government confirmed. The disruption follows intensified hostilities involving Iran, which has majorly restricted access to the narrow shipping corridor, through which nearly a fifth of global crude oil and liquefied natural gas typically passes. Addressing a media briefing, Rajesh Kumar Sinha, Special Secretary in the Ministry of Ports, ...Read More >
New Delhi: An Indian LPG tanker carrying roughly half a day's cooking gas supply has successfully crossed the war-hit Strait of Hormuz, while another vessel from Iran has reached the port of Mangalore, signalling continued fuel inflows despite regional disruptions. "LPG vessel Green Sanvi has safely transited the Strait of Hormuz, carrying 46,650 tonnes of LPG cargo with 25 seafarers on board," a government statement giving an update on West Asia developments said Saturday. Also Read: West Asia war: 'Jag Vasant' carrying 47,000 tonnes of LPG reaches Gujarat's Vadinar port Green Sanvi is the ...Read More >
New Delhi/Mumbai: Two India-flagged tankers hauling liquefied petroleum gas (LPG) arrived in the country after being cleared by Iran to transit the strategic Strait of Hormuz, even as two additional carriers, the BW Tyr and BW Elm, began their journey through the waterway on Saturday, officials aware of the matter said. According to the officials, the Jag Vasant, a 230-metre-long ship, dropped anchor around 8 pm on Friday at Vadinar, a terminal of the state-run Deendayal Port Authority (DPA), po ...Read More >
New Delhi, Apr 6 (PTI) Two more Indian-flagged LPG tankers have safely crossed the war-hit Strait of Hormuz and are headed for Indian ports even as 16 other vessels remain stranded in the Persian Gulf, officials said Monday. LPG vessel Green Sanvi carrying 46,650 tonnes of LPG is scheduled to reach Indian port on April 7 while Green Asha with 15,500 tonnes of cargo is scheduled to touch Indian coast on April 9, said Mukesh Mangal, Additional Secretary in Ministry of Ports, Shipping & Waterways at a news briefing. "Indian maritime operations remain safe and uninterrupted amid West Asia crisis ...Read More >
New Delhi, Jun 30: Indian Navy's stealth frigate INS Tabar, currently mission-deployed in the Gulf of Oman, responded swiftly to a distress call from a Pulau-flagged oil tanker, MT Yi Cheng 6, that caught fire on June 29. According to a statement shared by the Indian Navy spokesperson on X (formerly Twitter), the tanker, carrying 14 Indian crew members, was en route from Kandla, India, to Shinas, Oman, when a major fire broke out in its engine room, resulting in a total power failure onboard. Responding promptly, after receiving he distress call, INS Tabar deployed a firefighting team and eq ...Read More >
Samsung Heavy Industries signed a memorandum of understanding (MOU) with Indian shipmaker Swan Defence and Heavy Industries, a shipyard located in Gujarat, western India, to cooperate in the shipbuilding and offshore sectors, the Samsung subsidiary said Monday. Swan Defence and Heavy Industries operates India's largest dry dock -- measuring 662 meters (2,172 meters) by 65 meters -- and has the capacity to build very large crude carriers (VLCCs) and offshore facilities. Through the partnership, ...Read More >
A total of 24 Indian-flagged vessels with 677 Indian seafarers are currently located to the west of the Strait of Hormuz, while four vessels with 101 Indian seafarers are to the east of the crucial waterway, Rajesh Kumar Sinha, special secretary in the shipping ministry, told a briefing on developments in West Asia. Indians constitute almost 12% of the global seafaring workforce, with a total of more than 320,000 active sailors, and attacks on merchant vessels during recent conflicts in West Asi ...Read More >
New Delhi, Apr 4 (PTI) India said on Saturday that there are no payment issues with Iran for crude imports and that refiners continue to source oil from the country, as well as from a wide range of global suppliers. In a post on X, the Ministry of Petroleum and Natural Gas dismissed reports that an oil tanker carrying Iranian crude had rerouted mid-voyage from its previously indicated destination of India, which would have marked the first such shipment in nearly seven years, to China, saying the claims overlooked standard industry practice where cargoes can change destination during transit ...Read More >
New Delhi, April 5 (SocialNews.XYZ) An India-flagged vessel, Green Asha, has safely crossed the Strait of Hormuz, marking the ninth Indian tanker to transit the crucial maritime corridor since the onset of the ongoing West Asia conflict. The development comes even as tensions remain elevated and security concerns continue to disrupt one of the world's most vital oil and energy supply routes. According to reports, Green Asha is an LPG carrier and its successful passage highlights India's continued reliance on the strait despite mounting risks. The transit follows a series of similar crossing ...Read More >
New Delhi: Another India-flagged liquefied petroleum gas (LPG) tanker, Green Sanvi, transited east of the Strait of Hormuz on Saturday, according to ship tracking data, making it the seventh Indian vessel to clear the maritime chokepoint safely amid the West Asia conflict. The vessel used a designated corridor through Iran's territorial waters to navigate the strategically sensitive waterway. The tanker is estimated to be carrying around 44,000 tonnes of LPG, roughly equivalent to half a day's LPG consumption in India before the ongoing West Asia conflict. Industry experts say that two more I ...Read More >
New Delhi, April 4: The government on Saturday dismissed reports and social media claims that an Iranian crude oil cargo was diverted from Vadinar in India to China due to payment issues, calling them "factually incorrect" and misleading. The Ministry of Petroleum and Natural Gas has clarified that recent reports suggesting India lost an Iranian oil shipment due to payment problems are not true. The government said India imports crude oil from more than 40 countries, and oil companies have full flexibility to choose suppliers based on commercial needs. "The news reports and social media posts ...Read More >
An Iran-bound crude shipment that was initially headed for India changed course mid-voyage and began moving towards China, sparking speculation that payment issues or sanctions-related hurdles may have forced the diversion. Now, the ministry of petroleum and natural gas stepped in to clarify that there are no payment problems calling such claims "factually incorrect." The reports of a possible fallout came after ship-tracking firm Kpler said that the Aframax tanker Ping Shun -- which had initial ...Read More >
Mumbai, April 6: The Bombay High Court on Monday sought a response from the Deputy Director General of Shipping on a plea by the family of a 25-year-old Indian seafarer, who was killed in a suspected drone boat attack off the Oman coast, seeking a DNA test of the mortal remains brought to India. A bench of Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad was informed that the remains of Dixit Solanki reached India on Sunday. However, his family has not yet been able to take custody due to identification issues. Family seeks scientific verification Appearing for the family, advoc ...Read More >
New Delhi, Apr 4 (PTI) An Indian LPG tanker carrying roughly half a day's cooking gas supply has successfully crossed the war-hit Strait of Hormuz, while another vessel from Iran has reached the port of Mangalore, signalling continued fuel inflows despite regional disruptions. "LPG vessel Green Sanvi has safely transited the Strait of Hormuz, carrying 46,650 tonnes of LPG cargo with 25 seafarers on board," a government statement giving an update on West Asia developments said Saturday. Green Sanvi is the seventh Indian-flagged LPG tanker to have transited the strategic waterway, which has re ...Read More >
Mumbai: Two Indian-flagged LPG tankers, Green Sanvi and Green Asha, have safely crossed the Strait of Hormuz. Green Sanvi, carrying 46,650 tonnes of LPG, will reach India on April 7. Green Asha, with 15,500 tonnes, is expected to arrive on April 9. Officials said operations remain safe despite tensions. Total Eight Tankers Cross So Far With this, eight Indian LPG tankers have now crossed the strait safely. Earlier, vessels like BW TYR, BW ELM, Pine Gas, Jag Vasant, MT Shivalik and MT Nanda Devi also reached Indian ports with large LPG cargo. These shipments are crucial for India's energy nee ...Read More >
UK sanctions 30 shadow tankers in largest clampdown on Russian oil trade The UK has blacklisted another 30 oil tankers in Russia's "shadow" fleet in its largest sanctions package of this kind to date, the government said Nov. 25, as a G7 foreign ministerial meeting kicks off in Italy. To circumvent the G7's price cap on seaborne Russian oil exports, Russia has amassed a large tanker fleet of 586 ships totaling 57.1 million dwt, according to a recent analysis based on S&P Global Commodities at Sea and Maritime Intelligence Risk Suite data, most of which are old ships lacking sufficient insura ...Read More >
MUMBAI: The Bombay High Court will on Tuesday hear a petition filed by the father and sister of seaman Dixit Solanki, 33, who died in a suspected missile or drone attack on oil tanker MT MKD Vyom in the Gulf of Oman, seeking official DNA verification of the mortal remains handed over to them. The plea, filed by Amratlal Solanki and Mitali Solanki through advocate Satish B Talekar, raises serious concerns over the identification of the remains brought to Mumbai on April 5, 35 days after the fatal incident, and seeks written confirmation of post-mortem findings and DNA authentication. Dixit So ...Read More >
Mumbai, March 12: The Liberian-flagged crude oil tanker Shenlong successfully docked at Mumbai Port on Wednesday, March 12, marking the first successful transit of an India-bound oil vessel through the Strait of Hormuz since the outbreak of full-scale hostilities between the US, Israel, and Iran. Carrying approximately 2 million barrels of Saudi Arabian crude, the vessel's arrival provides a critical reprieve for Indian refineries that have faced dwindling stocks and soaring procurement costs. The transit was closely monitored by international maritime agencies as the ship navigated one of th ...Read More >
New Delhi, April 4 (SocialNews.XYZ) Another India-flagged liquefied petroleum gas (LPG) tanker, Green Sanvi, transited east of the Strait of Hormuz, according to ship tracking data, making it the seventh Indian vessel to clear the maritime chokepoint safely amid the West Asia conflict. The vessel used a designated corridor through Iran's territorial waters to navigate the strategically sensitive waterway. The tanker is estimated to be carrying around 44,000 tonnes of LPG, roughly equivalent to half a day's LPG consumption in India before the ongoing West Asia conflict. Industry experts say t ...Read More >