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.
VMPL Ernakulam (Kerala) [India], February 4: Kings Infra Ventures Limited, a pioneer in the seafood and aquaculture industry. Operates across the entire seafood value chain, from farming to international trade, with extensive infrastructure including farms, and processing facilities, has announced that the recent government budget has introduced significant customs duty changes aimed at strengthening India's aquaculture sector. Key modifications include: * Reduction in Basic Customs Duty (BCD) on frozen fish paste (Surimi) from 30% to 5% for manufacturing analogue products for export * Reduction in BCD on fish hydrolysate from 15% to 5% for manufacturing fish and shrimp feeds. These measures will make shrimp feeds more competive and reduce the overall cost of shrimp production making farming more profitable and exports more competitive. * The establishment of Export mission jointly by various stakeholder ministries, the increase in subsidies under various schemes by the food processing ministry, the benefits granted to the SME sector including increased financing limits and expansion of credit to farmers will all contribute to the healthy growth of the aquaculture industry to play a major role in achieving our vision for Vikasit Bharat. These changes come as India maintains its position as the second-largest global producer in fish production and aquaculture. The government has expressed its commitment to unlock the untapped potential of the marine sector, emphasizing sustainable harnessing of fisheries. Kings Infra: Leading Innovation in Sustainable Aquaculture SISTA360: An integrated platform providing: * Sustainable and traceable aquaculture solutions will benefit from the proposals for improving credit to farmers as more farmers will be able to afford better technology and more sustainable inputs. * SPEED program for skill development and entrepreneurship will equip more young professionals to be future ready to start their own aqua enterprises under PMMSY and FIDF schemes. * It will also help in comprehensive farmer network development to create a robust sustainable supply chain. Kings Maritech Eco Park: India's first eco-friendly mariculture tech park featuring: * Advanced Recirculatory Aquaculture System (RAS) * AI and IoT integration * Projected productivity increases from 5 tons/Ha to 50 tons/Ha. The budget contains a proposal for supporting setting up of Nuclear Breeding Centers( NBC). It will help in reducing import of broodstock and also diversification of species. NBC will be an important vertical within KMEPL. Aqua King: A certified range of aqua healthcare products including: * Micro C macro minerals * Feed supplementary products * Water and soil probiotics * Various health management solutions All products carry ISO 9001:2015, ISO 22000-2018 certifications and Coastal Aquaculture Authority (CAA) approval. Shaji Baby John, Chairman and Managing Director of Kings Infra Ventures Limited, commented on the update, stating: The government's recent budget initiatives, particularly the reduction in Basic Customs Duty on fish hydrolysate from 15% to 5%, come at an opportune time for us and the entire aquaculture sector. This aligns perfectly with our SISTA360 protocols and our commitment to sustainable farming practices. The reduced input costs will significantly enhance the cost- effectiveness of our operations, especially in our high-yielding farms that have achieved the remarkable feat of harvesting 80gm Vannamei shrimps in 120 days without antibiotics. Furthermore, as we progress with our Kings Maritech Eco Park project, which aims to increase productivity from 5 tons/Ha to 50 tons/Ha using advanced RAS technology, these duty reductions will play a crucial role in optimizing operational costs. The government's recognition of India's position as the second-largest fish producer globally and its focus on sustainable harnessing of fisheries aligns seamlessly with our vision. Through our integrated approach - from our ISO-certified Aqua King products to our SPEED initiative for farmer empowerment - we are well-positioned to contribute significantly to India's aquaculture growth story while maintaining our commitment to sustainable and traceable practices. The timing of these policy changes couldn't be better as we expand our farmer network and scale up our operations across. These initiatives will help us accelerate our mission of transforming aquaculture through technology and sustainable practices, ultimately benefiting both farmers and consumers while contributing to the nation's food security goals." About Kings Infra Ventures Limited Kings Infra Ventures Limited, a pioneer in the seafood and aquaculture industry, established its integrated aquaculture project in Tuticorin in 1987. Originally a family business, it has evolved into a tech-driven leader in sustainable aquaculture. Leveraging proprietary SISTA360 protocols and sustainable practices such as modified RAS, modified biofloc, and advanced farm management techniques, Kings Infra has achieved significant technological advancements. With the Maritech Eco Park project and global expansion initiatives, the company remains committed to sustainability, quality, and traceability. Additionally, Kings Infra is developing premium retail brands--Kings Frigo and Kings Bento-- covering all aspects of the seafood value chain. In FY24, the company recorded a total income of Rs90.60 crore, achieving an EBITDA of Rs14.40 crore and a Net Profit of Rs7.56 crore (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
Gurugram, 11 December 2024: Around USD 40 billion of investments are envisaged over the next 5-6 years for the development of Electric Vehicles (EV) & ancillary industries in India. However, the deployment of these funds will rely upon successful implementation of government policies, charging infrastructure ramp-up and domestic manufacturing capacity scale-up. As per Colliers' latest report "EVs in India: Renewed Vigour in Electric Mobility", about two-thirds of the planned investments, can potentially materialize in the lithium-ion battery segment alone. Interestingly, despite slower than an ...Read More >
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 >
New Delhi, May 28 (SocialNews.XYZ) The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the continuation of the interest subvention component under the modified interest subvention scheme (MISS) for loans to farmers during the financial year 2025-26, and approved the required fund arrangements, according to an official statement issued after the meeting. MISS is a Central sector scheme aimed at ensuring the availability of short-term credit to farmers at an affordable interest rate through Kisan credit cards (KCC). Under the scheme, farmers receive short-term loa ...Read More >
New Delhi [India], January 21 (ANI): The Centre is expected to continue its fiscal consolidation efforts in FY26, with a fiscal deficit target of 4.5 per cent of GDP, according to a report by Emkay Research. For FY25, the report noted that the fiscal deficit is estimated to track close to 4.7 per cent, while states are likely to record a fiscal deficit of 3.2 per cent of GDP. It said "we do not see the Centre deviating from its consolidation path in FY26, and is likely to target 4.5 per cent GFD/GDP. States, on the other hand, are likely to now hug the 3 per cent of GDP target (+/-0.2 per ce ...Read More >
New Delhi [India], May 19 (ANI): Union Agriculture Minister Shivraj Singh Chouhan on Monday said that his ministry's resolve is to increase the Kharif crop production while reducing the production cost. He added that the synergy between the agricultural research and the farmers will be increased. The Minister was speaking to reporters here after a meeting with the State agricultural ministers. "Today, I held a meeting with the Agriculture ministers of all the states...Agriculture is important for the country, whether it is a question of livelihood, employment, contribution to the economy or ...Read More >
New Delhi [India], May 28 (ANI): The Union Cabinet on Wednesday approved the continuation of the interest subvention component under the Modified Interest Subvention Scheme (MISS) for farmers for the financial year 2025-26, and approved required fund arrangements. It is a Central Sector Scheme aimed at ensuring the availability of short-term credit to farmers at an affordable interest rate through Kisan Credit card (KCC). Also Read | Parcel Bomb Case: Odisha Court Convicts Accused Punjilal Meher, Sentences Him to Life Imprisonment. Under the Scheme: Farmers received short-term loans of up t ...Read More >
Rajamahendravaram: As part of World Environment Day celebrations, a major initiative to plant 4 lakh saplings across the district has been launched, district collector P Prasanthi announced on Thursday. She called on everyone to protect these saplings for the benefit of future generations. The main event was held at the Government Arts College campus in Rajahmundry under the aegis of the Forest Department, where the district collector participated as the chief guest. Chief Conservator of Forests BNN Murthy and other senior officials were also present. Speaking on the occasion, collector Prasa ...Read More >
JAKARTA (Reuters) - Indonesia and Canada on Monday signed a Comprehensive Economic Partnership Agreement (CEPA) that aims to strengthen economic ties between the two G20 members, three years after negotiations began. The agreement will take effect in 2026 and was signed in Jakarta by trade ministers of both countries. Indonesia's trade minister, Budi Santoso, said Indonesia appreciated Canada's support for its plan to prioritise its critical minerals sector, which was vital for its sustainable growth. "Together, we advance sustainable critical mineral management, supporting Indonesia's net ...Read More >
Vastu Housing has raised $100 million from the global consumer internet group Prosus. The Amsterdam-based investor has acquired an 8.4% stake (7.8% fully diluted) in the home finance company. Vastu Housing Finance is a prominent player in the affordable housing finance sector, focusing on underserved communities. In September, Vastu received a $50 million loan from the United States International Development Finance Corporation (USDFC). Housing finance companies have attracted significant funding in recent months. Recently, Easy Home Finance raised $35 million in a fresh funding round led by ...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 >
New Delhi, Dec 3 (PTI) Finance Minister Nirmala Sitharaman will commence customary pre-Budget consultations with various stakeholders beginning Friday. As part of the process, she will meet eminent economists on December 6 to seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent recorded in the second quarter of the current financial year. It will be followed by a meeting with farmer associations and agriculture economists and stakeholders in MSME sector scheduled for December 7, sources said. Union Budget 2025-26 is likely to be tabled in Parliament o ...Read More >
The overall development of the country is not possible without the development of agriculture and farmers. The nation's economy can be strengthened by the development of agriculture, fishery production, and livestock, President Droupadi Murmu said on Thursday. Gracing the convocation ceremony of the Odisha University of Agriculture and Technology at Bhubaneswar, she said agriculture is facing new challenges such as natural disasters, adverse effects of climate change, decreasing per capita farm ...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 >
Given the strong subscription response, Ganesh Infraworld's latest GMP stands at Rs 73, indicating an upside potential of 88% above the upper price band.The SME initial public offering (IPO) of Ganesh Infraworld received a strong response from investors with an overall subscription of 103.2 times by 12:19 pm on the final day of the bidding process. The IPO will close on December 3. The company aims to raise Rs 98.6 crore through the SME IPO, which is a fresh equity sale of 1.18 crore shares, and list the shares on the NSE SME platform. The net proceeds from the public offer will be used for ...Read More >
New Delhi, Dec 12 (PTI) The government on Thursday came out with the definition of green steel and asked the industry to take measures to bring down carbon emissions below the level of 2.2 tonnes on per tonne of finished products. Union Steel Minister H D Kumaraswamy also released a 'taxonomy on green steel' with parameters for giving star ratings on products based on the amount of carbon dioxide (CO2) emitted during the production process. The steel industry has been the backbone of India's industrial growth and it is imperative that this vital sector undergoes a transformative shift towards ...Read More >
New Delhi, Dec 12 (PTI) Terming the 5.4 per cent GDP growth in the second quarter as a "temporary phenomena", FICCI President Harsha Vardhan Agarwal on Thursday said the industry body expects India to achieve 6.5-7 per cent economic growth in the current financial year, while projecting a pick up in private investment. In an interview to PTI, Agarwal, who is also the Vice Chairman & Managing Director of Emami Ltd, said the RBI needs to manoeuvre a "tight-rope balancing act" between inflation and economic growth, as he opined that the central bank has been doing a prudent job. Notably, the FI ...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, Jan 27 (UNI) Aam Aadmi Party (AAP) has released its manifesto for the next month Assembly election with 15 guarantees, including employment and the women's dignity scheme. While releasing the manifesto on Monday, AAP's national convener and former Chief Minister Arvind Kejriwal said, "Kejriwal's guarantees are solid," emphasising that free electricity for 24 hours, free water, free education, free pilgrimage for senior citizens, free bus travel for women, and free medical treatment in hospitals and Mohalla Clinics will continue in Delhi. He alleged, "BJP leaders and spokespersons ...Read More >
VIJAYAWADA: Chief Minister N Chandrababu Naidu on Thursday held a review meeting at his Undavalli camp office to address procurement and pricing concerns for cocoa, mango, and tobacco crops, reaffirming his government's commitment to supporting farmers. Naidu stressed a farmer-centric approach, directing officials to conduct field visits, anticipate challenges, and ensure global standards in agricultural production. He announced a dedicated cocoa policy to promote high-quality output and enhance farmer awareness. Support for Farmer Producer Organisations (FPOs) and MSMEs to strengthen agro-pr ...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 >
Since our last publication, the higher risk-sensitive EUR/CHF cross pair has wobbled as it grappled with the Eurozone's economic weakness and a looming unfavorable external trade environment due to further global supply chain disruptions due to incoming US President-elect Trump's 10% to 20% tariffs threat on other countries' exports to the US, inclusive of the Eurozone. The EUR/CHF inched lower in the week of 18 November (ex-post US Presidential election outcome on 6 November) and retested a key intermediate support of 0.9255, a key swing low made almost a year ago on 29 December 2023. Fig 1 ...Read More >
BHUBANESWAR : Unable to regulate retail price of the potato even after normal flow of the tuber from West Bengal and Uttar Pradesh, the state government has decided to provide the kitchen essential to consumers at a subsidised rate through the National Agricultural Cooperative Marketing Federation of India Limited (NAFED). In the first phase of its market intervention initiative, the state government has procured 60 tonnes of potato from Uttar Pradesh through NAFED and the same will be available ...Read More >
Punjab farmer leader Jagjit Singh Dallewal's hunger strike enters its 17th day. His health is critical. The Supreme Court urges dialogue between the government and Dallewal. Dallewal demands MSP guarantee and other farmer-centric issues. He has written an open letter to the Prime Minister. Farmers' organizations continue their protests at the Punjab-Haryana border.The Supreme Court on Friday expressed serious concern over the deteriorating health of Punjab farmer leader Jagjit Singh Dallewal, who ...Read More >
New Delhi: Rare earth magnets, essential for EV motors, have become the latest flashpoint in India's growing electric mobility ambitions. These magnets power the core of Brushless DC (BLDC) and Permanent Magnet Synchronous Motors (PMSM), which drive most electric vehicles today, particularly two-wheelers. With China tightening export controls, Indian automakers now face serious supply-side disruptions. If the situation continues, industry experts warn that EV prices could rise, production could slow and expansion plans may take a hit. In April this year, China imposed an export curb on rare- ...Read More >
Beijing: China has expressed its willingness to engage in dialogue with the United States following recent threats by former President Donald Trump to impose new tariffs on Chinese goods. The statement comes amid growing tensions between the two economic giants over trade practices, technology policies, and geopolitical issues. Chinese Foreign Ministry spokesperson, Wang Wenbin, said that China was open to "constructive dialogue" with the U.S., emphasizing the importance of cooperation to ensure global economic stability. "China believes that both countries should seek common ground and manag ...Read More >
The Indian government has announced a 375km rail network expansion, aimed at enhancing economic growth and connectivity in North Maharashtra, Madhya Pradesh, and Uttar Pradesh. With a total cost of approximately Rs79.27bn ($1.05bn), these projects are aimed to be completed within four years. Union Minister of Railways, Ashwini Vaishnaw, detailed the Cabinet Committee on Economic Affairs' approval of three railway infrastructure projects. The projects include the Jalgaon-Manmad fourth line (160 km), Bhusawal-Khandwa third and fourth lines (131km), and the Prayagraj (Iradatganj)-Manikpur thir ...Read More >
Hyderabad: With the early onset of pre-monsoon showers, farmers across Telangana have started their agricultural activities ahead of schedule. However, the agriculture department is facing strong criticism for failing to provide adequate fertilizers and seeds necessary for the current season. According to officials, there is a significant shortfall in the availability of essential inputs like urea and cotton seeds, which may negatively impact crop planning and productivity across the state. Also Read: Madhuri Dixit Recalls 'Hum Aapke Hain Koun' Magic with Salman Khan as Monsoon Arrives For ...Read More >
New Delhi [India], June 5 (ANI): On the occasion of World Environment Day, a website, "Discover Green Hydrogen," was launched by L&T GreenTech. The website focuses on the global clean energy revolution, providing insights, expert analysis, and real-time updates on the rapidly evolving Green Hydrogen industry. Powered by L&T GreenTech, a key division of L&T Energy's Green & Clean Energy Business, the newly launched website reflects L&T's unwavering commitment to sustainability. Also Read | Delhi: High-Level US Team Arrives for Talks on Bilateral Trade Pact With India. This website is designe ...Read More >
New Delhi, Jun 5 (PTI) Business conglomerate Aditya Birla Group has acquired Cargill's speciality chemical manufacturing facility in Dalton, Georgia. In a statement on Thursday, the group announced the expansion of its US Advanced Materials business with the acquisition of Cargill Incorporated's 17-acre speciality chemical manufacturing facility in Dalton, Georgia. The acquisition continues Aditya Birla's expansion in the US' manufacturing sector, a key aspect of Aditya Birla's growth strategy, which now totals over USD 15 billion in investment. The acquisition was executed through Aditya B ...Read More >
NEW DELHI, June 5 (Reuters) - Indian and U.S. are holding high-level talks this week, aiming to finalise tariff cuts in sectors such as farm and automobiles as part of an interim deal, two government sources said, with an announcement likely later this month. A U.S. delegation led by senior officials from the Office of the United States Trade Representative (USTR) began closed-door, two-day discussions in New Delhi on Thursday with Indian trade officials headed by chief negotiator Rajesh Agrawal ...Read More >