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.
Chennai, March 12: HCLTech has offered its employees in Chennai the option to work from home on March 12 and 13, following a severe shortage of commercial LPG that has disrupted cafeteria services across its campuses. The move comes as several food vendors at the company's facilities, including those in the Sholinganallur IT corridor, reported an inability to operate due to the dwindling supply of cooking gas. While the company stated that core business operations remain unaffected, the temporary shift to remote work was implemented to ensure employee convenience amid the catering crisis. The disruption is part of a broader energy crunch currently affecting major urban centers in India. Industry peers, including Infosys, have issued similar advisories to staff in Chennai, Bengaluru, and Pune. At several IT parks, live counters for fresh meals have been suspended, and employees have been encouraged to bring home-cooked food. HCLTech is reportedly exploring alternative arrangements, such as induction-based cooking and microwave-friendly pre-cooked meals, to mitigate the impact on its workforce of over 15,000 in the city. LPG Row: Opposition Claims Shortage of LPG Cylinders and Rising Fuel Prices; Ruling Alliance MPs Assure No Need To Panic. The current shortage is largely attributed to geopolitical tensions in West Asia, which have hampered global energy supply chains and led to a spike in fuel prices. In response, the Indian government has invoked the Essential Commodities Act to prioritize domestic LPG supply for households and hospitals. Consequently, commercial distributors have significantly reduced or halted supplies to the hospitality sector, leading to the temporary closure of nearly 15% of restaurants in Chennai and impacting large-scale corporate canteens. Infosys Asks Employees to Share Work-From-Home Electricity Usage Data, Know Why. Local authorities are currently monitoring the situation to prevent hoarding and black marketing of cylinders. As of Thursday, many tech firms continue to operate on a hybrid or remote model as they wait for the commercial gas supply to stabilize. For now, the "work-from-home" privilege, once a pandemic necessity, has resurfaced as a strategic solution to an unexpected infrastructure hurdle.
India's Ministry of Corporate Affairs (MCA) has announced an ongoing investigation into three electric vehicle (EV) manufacturers for allegedly availing government subsidies fraudulently. The total sum in question amounts to approximately Rs2.97bn (about $35m). The firms under scrutiny, Hero Electric Vehicles, Benling India Energy and Technology, and Okinawa Autotech; they are accused of violating guidelines tied to FAME II. FAME II was launched in 2019 by India's Ministry of Heavy Industries (MHI), that aimed to promote local EV manufacturing and drive electrification in India. It is mainl ...Read More >
BENGALURU: After two-and-a-half years' wait, many campus recruits got their jobs in Infosys in October last year, but at least 490 of them from the 2022 batch were laid off last week from the Mysuru campus. Infosys in a statement said all freshers get three attempts to clear the assessment, failing which they will not be able to continue with the organisation. However, a couple of trainees that this newspaper spoke to said it was a stringent assessment and that there was no mention of these three attempts in their offer letters. Have IT companies' assessments changed over the years? No, say H ...Read More >
Vijayawada: Chief Minister N Chandrababu Naidu on Friday unveiled an ambitious vision to transform Visakhapatnam into a new Mumbai over the next seven years. He directed officials to develop the 'Visakha Economic Region' as AP's primary growth engine, aiming for a staggering $120 billion economy from this region by 2032. The proposed economic region encompasses eight districts, including Visakhapatnam, Vizianagaram, Srikakulam, Anakapalli, Kakinada, East Godavari, Alluri Sitharama Raju (ASR), and Manyam. The Chief Minister has instructed the officials to launch projects that will significantl ...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 >
The chip makers around the world felt the relief of a rumor suggesting that the sales curb to China could be less severe than previously expected. But the news didn't necessarily translate in a strong rally. ASML (NASDAQ:ASML) - Europe's biggest chip equipment maker that predicted a 30% fall to its Chinese revenue next year - closed 0.22% lower yesterday, while Tokyo Electron - which was up by more than 6% yesterday - couldn't extend gains at today's session. With US markets paused for the Thanksgiving break, France was at the heart of the attention yesterday. The political drama, there, only ...Read More >
Mumbai, Dec 10 (VOICE) The Indian stock market closed on a muted note on Tuesday after range-bound trading during the session. At closing, Sensex was up 1.59 points at 81,510.05, and Nifty was down 8.95 points at 24,610.05. Meanwhile, the broader market closed on a positive note. On the Bombay Stock Exchange (BSE), 2,025 stocks closed in the green, 1,938 stocks settled in the red, and 130 without change. During the session, midcap and smallcap stocks outperformed largecap. Nifty midcap 100 index was up 136.65 points, or 0.23 per cent, at 59,135, and Nifty smallcap 100 index was up 54.60 poin ...Read More >
NEW DELHI: Recognizing the potential and challenges of AI, the Government of India constituted an advisory group, chaired by Principal Scientific Advisor Prof. Ajay Kumar Sood, to undertake the development of an 'AI for India-Specific Regulatory Framework'. Under the guidance of the Advisory Group, a sub-committee on 'AI Governance and Guidelines Development' will provide actionable recommendations for AI governance in India. The sub-committee's report on AI Governance, now published for public consultation, aims to guide the development of a trustworthy and accountable AI ecosystem in India. ...Read More >
New Delhi, Jun 5 (PTI) Fintech firm BimaPay Finsure on Thursday said it has entered into corporate insurance financing and aims for Rs 20 crore in premiums in 2025-26. Launching the pilot phase with insurance partners, BimaPay said the initiative will allow businesses to pay premiums in easy equated monthly instalments (EMIs) instead of bearing the burden of full upfront costs. Also Read | Who Is Pinaki Misra? From Age to Family Background and Net Worth, Here's All About BJD Leader With Whom Mahua Moitra Reportedly Married. The company aims to finance over Rs 20 crore worth of premiums by t ...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 3 (Reuters) - Prime Minister Narendra Modi's high-profile attendance at a global airlines conference this week underscores how much India is banking on a boom in aviation to support wider development goals, but headwinds to its ambitions are gathering force. Undeterred by the uncertainty gripping the aviation sector globally due to trade tensions and shaky consumer confidence, India's biggest airlines are ploughing ahead with orders for new planes, following record deals two year ...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 >
Infosys has announced an average 85% performance bonus for eligible employees in Q2 FY25, reflecting its strong financial performance. The bonus, paid to mid- and junior-level staff, will be credited with the November salaries, with individual payouts varying based on performance. This follows Infosys' impressive 4.7% rise in Q2 net profit and a revenue increase of 5.1%, leading to an upward revision of its FY25 revenue guidance. The bonus payout surpasses the previous quarter's 80%, with Infosys outpacing rivals like TCS. Employees are also awaiting salary hikes, with revisions expected from ...Read More >
New Delhi [India], December 12 (ANI): The Index of Industrial Production (IIP) growth rate for October 2024 registered a modest increase to 3.5 per cent, up from 3.1 per cent in September 2024, according to the Quick Estimates released on December 12. According to the Ministry of Statistics & Programme Implementation, sectoral analysis reveals mixed performances. Mining, Manufacturing, and Electricity sectors reported growth rates of 0.9 per cent, 4.1 per cent, and 2.0 per cent, respectively. The manufacturing sector demonstrated resilience, with 18 out of 23 industry groups at the 2-digit N ...Read More >
Bengaluru: After facing roadblocks several times, Bengaluru's much-waited Namma Metro Yellow Line is all set to begin operations on January 6. Once operational, the metro line that connects RV Road to Bommasandra will be a crucial addition to the city's metro network as it links Electronics City, a hub for major companies like Infosys and Biocon. Confirming the updates, Lok Sabha MP from Bengaluru South Tejasvi Surya on Thursday said that the first train is ready and will be dispatched to Bengaluru in the first week of January. "We now have the first train ready to be dispatched to Bengaluru ...Read More >
New Delhi, Jan 17 (PTI) IT service provider Tech Mahindra on Friday announced the opening of an advanced Manufacturing Experience Centre at its Chennai campus. The centre was inaugurated by Mahindra Group chairman Anand Mahindra and Tech Mahindra CEO Mohit Joshi, according to a company statement. The centre will help manufacturers to quickly prototype and scale AI-based innovations to tackle industry issues like high operational expenses, inefficiencies in processes, supply chain disruptions, and complex operational challenges. Additionally, it will function as a hub where customers can vis ...Read More >
NEW DELHI: The heads of the border guard forces of India and Bangladesh will meet in New Delhi in mid-February for the first time since the fall of the Sheikh Hasina government to discuss key issues such as the fencing of the boundary and tackling trans-border crime. The director general of Border Guard Bangladesh (BGB), Maj Gen Mohammad Ashrafuzzaman Siddiqui, will travel to India during February 16-19 for talks with the head of the Border Security Force (BSF), Daljit Singh Chawdhary, people familiar with preparations for the meeting said on condition of anonymity on Wednesday. Siddiqui's t ...Read More >
Bhubaneswar: Revenue minister Suresh Pujari on Saturday said Odisha would not be allowed to follow the lawless path in sand operations like it is in Bihar and West Bengal, while responding to the recent assault of an additional tehsildar in Kaptipada block, Mayurbhanj district, by the sand mafia. He promised stringent action against the sand mafia regardless of their connections, while speaking to mediapersons here on Saturday."The Kaptipada incident represents a serious escalation in conflict between law enforcement and the sand mafia. The attack on officers performing their enforcement dutie ...Read More >
Markets opened on a cautiously optimistic note on Wednesday, with the Sensex and Nifty showing marginal gains, while investors closely monitored global economic indicators and upcoming domestic policy decisions. The Sensex opened higher at 81,036.22 from its previous close of 80,845.75 and is currently trading at 81,168.92 as of 9.45 am, up by 323.17 points or 0.40 per cent. Similarly, the Nifty opened at 24,488.75 compared to its previous close of 24,457.15 and is now at 24,558.20, rising by 101 ...Read More >
MUMBAI: The Indian stock markets bounced back strongly on Friday with both the Sensex and Nifty rising sharply during the intra-day trade after a cautious start. The rally was driven by positive global cues and heavy buying in the IT and FMCG stocks. The Sensex jumped 953 points, or 1.17 per cent, to hit an intra-day high of 81, 905. Meanwhile, the Nifty climbed 299 points, or 1.21 per cent, to cross the 24, 900 mark, reaching a high of 24, 909 during early trade. However, the market gave up some of its early gains as the session progressed. Around 1 p.m., the Sensex was trading at 81, 800.8 ...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 >
Gandhinagar (Gujarat) [India], June 7 (ANI): Gujarat Chief Minister Bhupendra Patel, while inaugurating the new Development Center of Infosys at GIFT City, reaffirmed the State Government's commitment to advancing the AI industry by implementing artificial intelligence-based systems across the state. He stated that the establishment of an AI Centre of Excellence at GIFT City is aimed at creating a unified platform that brings together solution developers, experts, professionals, and startups under one roof. Also Read | Latur Shocker: Man Kidnaps Woman's Child for Rejecting His Proposal for A ...Read More >
Bengaluru: Ex-Karnataka Chief Minister and former External Affairs Minister SM Krishna died here early on Tuesday, leaving behind a rich legacy of statesmanship and public service that saw the 92-year-old leader scale all heights of political achievements. Suave, sophisticated and a man with enviable academic credentials, Somanahalli Mallaiah Krishna started off his political innings as an independent MLA from Maddur in 1962, stunning a then Congress veteran in the elections, and went on to become the state's CM and later the country's External Affairs Minister. Tributes poured in for the fo ...Read More >
Mumbai (Maharashtra) [India], December 10 (ANI): The stock market ended Tuesday's trading session on a subdued note, with the benchmark indices showing little movement. The Sensex edged up by 1.59 points, closing at 81,510.05, while the Nifty declined by 8.95 points to end at 24,610.05. Also Read | Parliament Winter Session 2024: Congress, INDIA Bloc Allies Move No-Trust Motion Against Rajya Sabha Chairman Jagdeep Dhankhar; Alleges 'Proceedings in Upper House Conducted in Partisan Manner'. In the Nifty pack, 23 stocks advanced, while 27 ended in the red. Among the top gainers were Shriram F ...Read More >
Bengaluru, India (OTE) - Leveraging Infosys Topaz and Google Cloud technology, the center of excellence will foster co-innovation to deliver transformative AI-powered solutions Infosys (NSE: INFY), (BSE: INFY), (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced the launch of a Google Cloud center of excellence, powered by Infosys Topaz, to foster enterprise AI innovation. The center will serve as a catalyst for co-creation and help businesses harness the power of generative AI to achieve transformative growth. Infosys and Google Cloud share a s ...Read More >
Mumbai, Dec 18 (PTI) Equity benchmark indices Sensex and Nifty stayed on the back foot for the third straight session on Wednesday as investors offloaded utility, capital goods and metal stocks amid foreign fund outflows. Besides, investor sentiment remained subdued ahead of the outcome of the US Federal Reserve's policy meeting, scheduled for Wednesday, traders said. The 30-share BSE benchmark tumbled 502.25 points or 0.62 per cent to settle at 80,182.20, taking its downtrend to the third day. During the day, it tanked 634.38 points or 0.78 per cent to 80,050.07. As many as 2,563 stocks de ...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, 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 >
Bengaluru: The Karnataka government on Thursday took strong action against the police officers allegedly responsible for the Bengaluru stampede, suspending several high-ranking officials, including the city's police commissioner. Addressing a press conference, Chief Minister Siddaramaiah also announced a one-man commission to probe the lapses that triggered the deadly stampede. "Cubbon Park Police Station police inspector, station house master, station house officer, ACP, Central Division DCP, cricket stadium in-charge, additional commissioner of police, commissioner of police have been susp ...Read More >
New Delhi [India], June 6 (ANI): The Federation of Automobile Dealers Associations (FADA) on Friday released vehicle retail data for May, which revealed a modest rise of 5 per cent as compared to the same month last year. Segment-wise, two-wheeler was the best category, which performed, registering a rise of 7.3 per cent on a year-on-year basis, followed by three-wheeler (rise of 6.2 per cent), and the tractor segment registered a gain of 2.7 per cent on yoy basis.On the flip side, the Passenger Vehicle segment, Construction Equipment, and Commercial Vehicle declined by 3.1 per cent, 6.3 per c ...Read More >
New Delhi [India], June 8 (ANI): BJP MP Gulam Ali Khatana, who was part of the all-party parliamentary delegation to Europe, said that during their recently conclued visit they successfully communicated India's development story and its resolute stand against terrorism, particularly emanating from Pakistan. Highlighting the delegation's key discussions during the tour, Khatana told ANI, 'We discussed how we dismantled the terrorism factory in Pakistan by responding... We also talked about tourism infrastructure, G20 Summit, and projects like the six-lane roads, bridges, solar initiatives, our ...Read More >