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, Mar 31 (PTI) The government has cancelled the auction of 11 critical and strategic mineral blocks which were put on sale in the sixth round on account of poor investor response and lack of qualified bidders. The development comes as a setback to the government's efforts to ramp up domestic exploration and production of critical minerals amid global supply chain disruptions. In an annulment notice, the mines ministry said that the auction process for 5 mineral blocks was cancelled since no bids were received. The notice further said the auction process of five other mineral blocks was annulled as there were less than three technically-qualified bidders. Besides, auction process for Beku Rare Metal Block, West Bengal was also annulled. The mines ministry had in September last year launched the sixth tranche of auction for 23 critical mineral blocks spread across 13 states. The auction included 19 composite licence (CL) blocks and four mining lease (ML) blocks in Andhra Pradesh, Chhattisgarh, Jharkhand, Karnataka, Maharashtra, Odisha, Rajasthan, Telangana, and West Bengal. The blocks contain strategic minerals including lithium, cobalt, rare earth elements, niobium, tantalum, and vanadium. So far, six rounds of auctions have been completed, with 46 critical and strategic mineral blocks already sold, according to the mines ministry. Critical minerals are pivotal for the country's economic development and mineral security. The global transition towards clean energy and advanced technologies has significantly increased the demand for minerals such as lithium, graphite, rare earth elements (REE), tungsten, vanadium, titanium and other rare metals. Their limited availability and geographical concentration pose challenges to resilient supply chains worldwide. The government has cancelled the auction of many critical minerals in the previous rounds of auction. PTI SID SID ANU ANU
Jamshedpur, Dec 17 (PTI) Tata Steel has operationalised an all-women shift at its Noamundi iron mine in Jharkhand's West Singhbhum district, an initiative introduced in the country for the first time, a company statement said. Women employees were engaged in all the mining activities of the shift, including heavy earth moving machinery, shovel, loader, drill [...] Jamshedpur, Dec 17 (PTI) Tata Steel has operationalised an all-women shift at its Noamundi iron mine in Jharkhand's West Singhbhum district, an initiative introduced in the country for the first time, a company statement said. Wome ...Read More >
Berhampur (Odisha), Jun 6 (PTI) Environmental activist Medha Patkar on Saturday appealed to the people of Odisha for protection of Rushikulya river. The government planned to construct a dam in the river Pipalapnaka under Sorada block in the district. While participating in the Save Rushikulya river movement in Ganjam district, she said, "Rivers may be small or big, but they are our mother. We have to protect the rivers from attacks." She attended a meeting were organised by the Rushikulya Banchao Kriyaanusthan Committee (RBKC) and the Centre for Climate Justice, spearheading the agitation a ...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 >
Guwahati, June 28 (UNI) Union Minister for Coal and Mines, G Kishan Reddy, on Saturday reaffirmed the Centre's "unwavering support" for accelerating mineral and coal development across India's eight North‑Eastern states. Speaking on the second day on the second North‑East Mining Ministers' Conclave here, Reddy said robust mining infrastructure, quicker project clearances and eco‑friendly practices are crucial to realising Prime Minister Narendra Modi's "Viksit Bharat 2047" vision. "Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim are our Ashta Lakshmi," the ...Read More >
Shares of NMDC, steel stocks faced selling pressure on December 18 as the Siddaramaiah-led Karnataka government tabled a bill to tax mines and mining land. NMDC, JSW Steel, Tata Steel, SAIL stocks were trading in red, with NMDC stock bearing the brunt of the fall by falling 5% as CNBC-TV18 reported that the Karnataka government might hike duty on iron ore. At 12:30 pm on December 18, NMDC shares were trading 6% lower at Rs 213.49 apiece, the biggest fall in 18 weeks. Karnataka is an important s ...Read More >
New Delhi, Jun 6 (PTI) The incentive scheme for recycling of critical minerals, such as copper, lithium, nickel, cobalt and rare earth elements, is in the final stages, a mines ministry official said on Friday. The Union budget has allocated Rs 1,500 crore for recycling of critical minerals under the National Critical Mineral Mission (NCMM), Joint Secretary in Mines Ministry Dinesh Mahur said during an event here. He said, "the incentive scheme for recycling is in its final stages." Earlier, the government had approved a Rs 16,300-crore National Critical Mineral Mission, envisaging a total o ...Read More >
NEW DELHI (Reuters) - India and five central Asian countries have expressed interest in joint exploration of rare earths and critical minerals, they said in a joint statement on Friday after the fourth meeting of the India-Central Asia Dialogue, held in New Delhi. They also called upon relevant authorities for an early meeting of the India-Central Asia Rare Earth Forum. (Reporting by Shivam Patel, writing by Sakshi Dayal; Editing by Alex Richardson) ...Read More >
Guwahati, Jan 31 (PTI) The Gauhati High Court has issued notices to the Assam government and its various departments over rampant rat-hole coal mining and asked them to furnish what steps they have taken to stop the unlawful activity. Taking suo motu cognizance of the Dima Hasao coal mining tragedy, the high court registered a public interest litigation on Monday and issued notices the next day to seven government departments, including the office of the chief secretary. "The court has taken note of various reports which suggest that around more than 200 rat-hole mines are in operation in Um ...Read More >
India's electric vehicle (EV) sector is facing a major hurdle due to China's restrictions on the export of rare earth metals. These materials are key components in the production of EV motors, and their restricted import from China has made things difficult for several Indian companies. The issue was highlighted in a recent report by Jefferies, which warned that this could severely impact motor production and jeopardize the entire supply chain. ...Read More >
Srinagar: Before towering cranes and cutting-edge engineering transformed the Himalayan landscape, the monumental dream of connecting "Kashmir to Kanyakumari" by rail began with the plodding footsteps of humble mules. This extraordinary backstory underpins the official realization of the Udhampur-Srinagar-Baramulla Rail Link (USBRL), inaugurated by Prime Minister Narendra Modi on June 6, 2025, a project crowned by the awe-inspiring Chenab Bridge. According to Afcons Infrastructure Limited, the company behind the Chenab Bridge, the earliest and most formidable hurdle wasn't just the design of ...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 dut ...Read More >
New Delhi: The Ministry of External Affairs (MEA) said that India is in touch with China on several economic and trade issues, including the supply chain issue of rare earth materials. Addressing a weekly briefing on Thursday, Jaiswal said, "On trade issues on rare earth, yes, we have been in touch with the Chinese side, both in Delhi and also in Beijing, and we have been talking to them as to how we can streamline the supply chain issue on rare earths." "We are in touch with the Chinese side on several economic and trade issues, as and when anything is required," he added. Meanwhile, commerc ...Read More >
As a part of the new agreement between Mazagon Dock and BEML, Mazagon Docks will make facilities available to BEML's research team in exchange for their technical support to design and manufacture strategic equipment, reported PTI. The government-owned BEML Ltd. (formerly known as Bharat Earth Movers Ltd) announced on Wednesday, November 27, that it has signed an agreement with Mazagon Dock Shipbuilders to develop technologies for the marine industry, news agency PTI reported. According to the company statement cited by the agency, the company aims to leverage the opportunity to expand its e ...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 >
Mangaluru, (Karnataka) Feb 5 (PTI) District in-charge Minister of Dakshina Kannada, Dinesh Gundu Rao, directed officials on Wednesday to install CCTV cameras on both sides of bridges along major highways and main roads to prevent 'illegal' activities. During an inspection of the strengthening work on the Addur Bridge along the Perali-Addur State Highway, Rao highlighted reports of sand mining near bridges weakening their structures. Also Read | Delhi Assembly Elections 2025: National Capital Records 57.89% Voter Turnout; Exit Polls Give BJP Edge Over AAP. He said that although extracting sa ...Read More >
Bengaluru, Jun 7 (PTI) A 26-year-old man allegedly beheaded his wife following a heated argument on the outskirts of Bengaluru after he suspected her of having an extra-marital affair, police said on Saturday. After killing Manasa, Shankar travelled with her severed head on his scooter to the nearest police station and confessed to the crime, they said. The man was later arrested, police said, adding that the incident occurred at Heelalige village, near Chandapura, Anekal taluk late on Friday. According to the police, the couple were married for over five years and have a four-year-old daug ...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 >
VIJAYAWADA: The State government on Friday accorded approvals to a slew of industries. Among those are Krishnapatnam Power Corporation Limited (KPCL), which is set to establish a 350 MW Solar and Battery Energy Storage System (BESS) in Thamminapatnam and Mommidi villages of SPSR Nellore district with a Rs 1,225 crore investment, creating 575 jobs. Furthermore, the government also waived off a Rs 54 crore extension of time fee, contingent on project completion within two years as per the Andhra Pradesh Integrated Clean Energy Policy-2024. The government also allocated 22.80 acres at MPSEZ in N ...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 >
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 >
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 >
Maharashtra will use special camera drones (LiDAR drones) to check mining and make more money. Following the government conncern over losing money because companies dig up more soil and stone than they report. These drones will accurately measure what's being dug Maharashtra Minister Chandrashekhar Bawankule announced on Saturday that the state government intends to utilise advanced LiDAR-based drone technology to monitor mining activities and boost revenue. This initiative will commence with a pilot project in the Pune district, reported news agency PTI. The state revenue minister highlight ...Read More >
Part of the deal involves assistance to boost mining supply chains. Peru is one of the world's top copper producers, while Japan is a major consumer of the key industrial metal. In the aftermath of the APEC summit, Peru also inked a defense cooperation deal with South Korea, including a submarine agreement with Hyundai Heavy Industries and another deal with Korea Aerospace Industries to manufacture parts for fighter aircraft, according to Boluarte's foreign minister. Last week, Peru formally inaugurated the Chinese-built Pacific coast megaport of Chancay, promising faster and more efficient ...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 >
Pune: Hospitals in Pune have started reporting an increase in dengue cases among children following recent heavy rainfall and intermittent showers. Conditions are now ripe for mosquito breeding, experts said, as they warned citizens to ensure there's no waterlogging or stagnant pools near homes and offices. "Dengue is typically seen first in children as they often play outside," said Dr Sagar Lad, a senior neonatologist and pediatric intensivist at Jehangir Hospital and Sahyadri Hospital, Shastrinagar. Dr Lad said he's seen at least three children admitted for dengue this week, with all of the ...Read More >
Guwahati, June 27: Chief Minister Himanta Biswa Sarma on Friday announced that his government will soon issue a blanket order to the Central Government to facilitate the exploration of Assam's mining potential. The announcement was made during the second edition of the North East Mining Ministers' Conclave, held in Guwahati. "This morning, we discussed granting a blanket exploration order for geological investigations. I want to commit that within a very short time, we will allow the Government of India to explore mining potential across," the Chief Minister said. He further informed that t ...Read More >
Guwahati, June 28 (SocialNews.XYZ) Union Minister for Coal and Mines G. Kishan Reddy reaffirmed the Central Government's full support to the mineral and coal-rich North Eastern states at a Mining Ministers' Conclave held here on Saturday. Addressing the gathering on the second day of the event, the Minister highlighted the Centre's commitment to strengthening mining infrastructure, fast-track project approvals, and promoting sustainable mining practices in the region. He stated that the development of the North East is central to the vision of Viksit Bharat 2047, with the eight states -- Ass ...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 >
Tata Steel is bolstering its iron ore supply for its planned 40 MTPA steel production by 2030. With four mine leases expiring in 2030, the company is operationalizing two new mines and negotiating with NMDC and OMC for additional ore. These strategies aim to secure the over 60 MT of iron ore required for the expanded steel capacity.Tata Steel has initiated discussions with state-run miners NMDC and Odisha Mining Corporation (OMC) to secure future iron ore supplies as the company ramps up its dome ...Read More >
New Delhi, May 26 (PTI) Zepto Co-Founder and CEO Aadit Palicha has accused the chief financial officer of a competing company of orchestrating a smear campaign against his quick commerce platform. In a LinkedIn post on late Sunday, Palicha, not taking names, alleged that the CFO of one of Zepto's competitor firms has been reaching out to Zepto's investors with unsubstantiated claims, distributing false financial data to journalists, and employing bots to spread negative narratives about Zepto on social media. "Over the past few days, the CFO of one of our competitors has been trying to build ...Read More >