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.
Mumbai: JC Flowers & Co. has agreed to acquire a controlling stake in Niyam Group and anchor capital for its newly launched Lloyd's Syndicate 2047, to tap India's fast-growing reinsurance market and capture business shifting onshore. The platform, based out of GIFT City, will begin underwriting from April 1 and is aimed at channeling global capital into India and other high-growth markets. The investment comes as global insurers deepen their presence in India, drawn by low insurance penetration and policy support such as the "Insurance for All by 2047" vision. Also Read: Life insurers' new biz rose 18% in Feb People familiar with the matter said the platform has raised about $100 million in initial capital, with J.C. Flowers contributing the majority and holding close to a 60% stake. The firm has also funded the group's operating expenses and backed the Lloyd's syndicate, which will provide AA- rated capacity to insurers. The reinsurance market is undergoing a change with more than 20 reinsurers setting up in GIFT City over the past year, transforming it into a regional hub. The move is partly aimed at plugging an estimated $4 billion annual outflow of reinsurance premiums that are currently ceded overseas. "Everybody is seeing the same opportunity... India is the fastest-growing insurance market," said Bobby Swarup, founder and chief executive of Niyam Group, adding that the platform is positioned to capture a share of this expanding pool. Also Read: India to be strongest growing insurance mkt, premium growth to rise to 6.9% by 2030: Swiss Re India's non-life insurance penetration remains around 1%, compared with a global average of about 4%, and has huge headroom for growth. As the economy expands and penetration improves, the insurance market could more than double in size, creating a parallel opportunity in reinsurance. The Lloyd's structure allows Niyam to pool capital and underwrite risks globally while focusing on India as its core market. This model could help localise capacity and reduce reliance on offshore markets over time.
CCI has also approved a 25.18 per cent equity stake in Future Generali India Life Insurance Company Ltd (FGILICL) through a bid/resolution plan submitted by Central Bank of India | Image: Wikimedia Commons State-owned Central Bank of India on Thursday said it has acquired a 25.18 per cent stake in Future Generali India Life Insurance Company Limited (FGILICL) for a cash consideration of Rs 57 crore as part of the insolvency process. With the acquisition of 65,43,80,439 shares on Wednesday (June ...Read More >
New Delhi, Jun 8 (PTI) Infosys has opened a new development centre at Gujarat International Finance Tec-City (GIFT City), Gandhinagar, to develop solutions for global Banking, Financial Services, and Insurance (BFSI) clients. The facility, designed to accommodate over 1,000 employees working in a hybrid model, was inaugurated by Gujarat Chief Minister Bhupendrabhai Patel. "It will function as a key TechFin hub, delivering advanced digital solutions for global BFSI clients. Its services will span critical domains including digital banking, regulatory affairs, trade finance, capital markets, c ...Read More >
New Delhi [India], June 8 (ANI): External Affairs Minister S. Jaishankar will undertake an official visit to France, the European Union (EU), and Belgium from June 8 to 14, 2025, the Ministry of External Affairs announced in a press release on Sunday. The visit marks a significant step in further strengthening India's strategic partnerships with Europe. The EAM will first travel to Paris and Marseille, France, where he will hold bilateral discussions with the Minister for Europe and Foreign Affairs of France, Jean Noel Barrot. Also Read | Indian Citizen Dies in UAE: Civil Engineer Issac Paul ...Read More >
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Ahmedabad: Gujarat International Finance-Tec City (GIFT City) has witnessed rapid growth in its fund management ecosystem over the past five years, with capital commitments rising sharply from less than $0.5 billion in March 2020 to $32.13 billion by Dec 2025, according to official data.Experts said the nearly six-fold increase reflects growing use of GIFT City for both India-focused and global investment strategies.The number of Fund Management Entities (FMEs) operating in the International Fina ...Read More >
New Delhi, Sep 14 (PTI) Insurance Amendment Bill, which proposes 100 per cent FDI in the insurance sector, is likely to be introduced in Parliament in the upcoming Winter session, Finance Minister Nirmala Sitharaman has said. The winter session of Parliament generally commences in the second half of November and concludes before Christmas. "I hope to", she told PTI when asked if the bill to further liberalise FDI in the insurance sector can be introduced in Parliament in the upcoming Winter session. The finance minister, in this year's Budget speech, proposed to raise the foreign investment ...Read More >
PRNewswire Chennai (Tamil Nadu) [India], December 13: Star Health and Allied Insurance Company Limited, the first standalone health insurance company in India, today announced the launch of its revolutionary retail health insurance product, 'SUPER STAR'. This innovative policy offers a long-term policy for the retail health segment, combining advanced features and highly customisable covers to address the growing complexities of modern lifestyles, rising medical expenses, and unforeseen emergencies. * Offers a long-term policy and unparalleled, highly customisable solutions for evolving heal ...Read More >
New Delhi [India] August 4 (ANI): The shareholding landscape of India Inc. witnessed a significant shift in the June 2025 quarter, with private promoter ownership plunging to an 8-year low while Domestic Institutional Investors (DIIs) surged to an all-time high, according to Primeinfobase, a division of PRIME Database Group. Private promoter holding in NSE-listed companies fell to 40.58 per cent as on June 30, 2025, down from 40.81 per cent in the previous quarter. This marks the lowest level since September 2017. The drop translated to a net sell value of Rs 54,732 crore. Over the last thre ...Read More >
Mumbai: Jio Financial Services Limited (JFSL) has announced a special festive campaign "Jio Gold 24K Days", which allows customers to start investing in gold with as little as Rs 10. The scheme also gives buyers a 2 per cent gold bonus and prizes worth Rs 10 lakh on purchases made during Dhanteras and Diwali. As part of the limited-period offer, customers purchasing digital gold worth Rs 2,000 or more between October 18 and 23, 2025, through the JioFinance or MyJio apps, will receive 2 per cent additional gold, credited directly to their gold wallet within 72 hours. Those buying gold worth ...Read More >
Gandhinagar (Gujarat) [India], April 2 (ANI): GIFT City's insurance and reinsurance ecosystem has witnessed rapid expansion, with premium volumes growing from USD 102 million in 2020 to over USD 1.2 billion by 2025, marking an over 11-fold increase in the past five years and signalling a strong scale-up of India-linked risk underwriting within the International Financial Services Centre (IFSC). According to GIFT city press release, "The growth in premiums has been supported by a steady increase in the number of insurers and reinsurers operating in GIFT City." "The number of Insurance Offices ...Read More >
Gandhinagar (Gujarat) [India], April 2 (ANI): GIFT City's insurance and reinsurance ecosystem has witnessed rapid expansion, with premium volumes growing from USD 102 million in 2020 to over USD 1.2 billion by 2025, marking an over 11-fold increase in the past five years and signalling a strong scale-up of India-linked risk underwriting within the International Financial Services Centre (IFSC). According to GIFT city press release, "The growth in premiums has been supported by a steady increase in the number of insurers and reinsurers operating in GIFT City." Also Read | 'People of Keralam E ...Read More >
Srinagar: The Counter-Intelligence Kashmir (CIK) unit of Jammu and Kashmir Police is conducting searches at ten locations across four districts in the Valley. An official told news agency -- Kashmir News Observer (KNO) that the raids are part of an ongoing investigation into a terror-crime case linked to a terrorist sleeper cell and recruitment module handled by Jaish commander Abdullah Ghazi from across the border. The searches are underway at one location in Pulwama, six in Ganderbal, one in Srinagar, and two in Budgam district -- (KNO) ...Read More >
New Delhi, Jun 29 (PTI) The finance ministry has asked public sector banks (PSBs) to look at monetising their investment in subsidiaries by listing them at bourses after further scaling up operations so that they realise good return. There are about 15 subsidiaries or joint ventures of PSBs lined up for initial public offering or divestment in medium to long term, sources said. Also Read | Tamil Nadu: Temple Worker, Detained in Connection With Alleged Theft of Gold Jewellery, Dies in Police Custody; Tension Erupts in Sivaganga. Wherever required banks should invest funds to scale up operati ...Read More >
Mumbai: HDFC Bank chairman Atanu Chakraborty said the bank has strengthened governance frameworks across its key subsidiaries as it adapts to its expanded role as a financial conglomerate following the merger with HDFC Ltd."In order to address our enhanced stature as a financial conglomerate, we have strengthened our oversight on the group companies," Chakraborty said in the bank's FY25 annual report. These include HDB Financial Services, HDFC Life Insurance, HDFC Asset Management, HDFC ERGO General Insurance, and HDFC Securities.A dedicated Group Oversight Department now monitors the implemen ...Read More >
New Delhi [India], July 19 (ANI): Jio Financial Services Limited (JFSL) and Allianz Group (Allianz), through its wholly-owned subsidiary Allianz Europe BV, entered into a binding agreement to form a 50:50 domestic reinsurance joint venture to serve the dynamic and high-growth insurance market in India. As per the official release, the reinsurance partnership will bring together JFSL's deep local expertise and robust digital footprint with Allianz's strong underwriting and global reinsurance capabilities Also Read | Is July 19 a Bank Holiday? Are Banks Open or Closed Today on Account of 3rd S ...Read More >
New Delhi [India], July 19 (ANI): Jio Financial Services Limited (JFSL) and Allianz Group (Allianz), through its wholly-owned subsidiary Allianz Europe BV, entered into a binding agreement to form a 50:50 domestic reinsurance joint venture to serve the dynamic and high-growth insurance market in India. As per the official release, the reinsurance partnership will bring together JFSL deep local expertise and robust digital footprint with Allianz strong underwriting and global reinsurance capabilities The JV will leverage Allianz existing Allianz Re and Allianz Commercial portfolios and activi ...Read More >
BusinessWire India Bengaluru (Karnataka) [India], September 16: Guidewire, a leading insurance technology provider for non-life insurance companies, announced the opening of its new office at Prestige Tech Park, Bengaluru. The move to a larger facility is indicative of Guidewire's tremendous growth in India as it continues to advance cloud-native solutions, attract top engineering talent, and help non-life insurers become digital-first companies. With more than 570 insurers in 43 countries relying on the Guidewire platform, the India teams play a pivotal role in ensuring global customer succ ...Read More >
Hyderabad: Heritage Foods Limited, a leading Indian dairy brand, reported its highest-ever quarterly revenue of Rs11,368 million for the first quarter of FY26, registering a 10% year-on-year growth despite headwinds from unseasonal rainfall across its key markets. The company, which is celebrating 34 years of operations, attributed its strong performance to steady progress in milk procurement, resilient milk and value-added product (VAP) sales, and its continued focus on quality, innovation, and farmer empowerment. Heritage also unveiled its "Vision 2030" strategy to become India's most admir ...Read More >
New Delhi [India], December 16 (ANI): Finance Minister Nirmala Sitharaman on Tuesday introduced the Insurance Laws (Amendment) Bill, 2025, titled "Sabka Bima Sabki Raksha", in the Lok Sabha, aiming to strengthen policyholder protection, deepen insurance penetration and accelerate the growth of the insurance sector in the country. The Bill seeks to amend key legislations, including the Insurance Act, 1938, the Life Insurance Corporation Act, 1956, and the Insurance Regulatory and Development Authority of India (IRDAI) Act, 1999. The proposed amendments are aligned with the government's long-te ...Read More >
New Delhi: The sales volume of used cars in India is expected to cross 6 million units this fiscal, driven by value-conscious demand, rising digital adoption, and better access to finance, credit rating agency Crisil Ratings said in a report. This growth has pushed the used-to-new car sales ratio to 1.4, up from less than 1 five years ago, with used car volumes growing more than twice as fast as new car sales. After a tepid 5% volume growth between fiscal 2017 and 2024, used vehicle sales grew by a strong 8% last fiscal and are poised to grow up to 10% this fiscal as well, the rating agency n ...Read More >
CUTTACK: The third National Lok Adalat organised in the Orissa High Court on Saturday saw just 193 of the cases taken up being settled by the different benches. However, the Lok Adalat benches awarded '12.27 crore towards compensation while settling the cases. Among those who presided over the benches were Justices SK Sahoo, SK Panigrahi, MS Sahoo, BP Satapathy, MS Raman, SK Mishra and SS Mishra. As on September 11, around 1.53 lakh cases are pending in the Orissa HC, according to official records. Altogether 1,186 were taken up by the seven Lok Adalat benches as part of the efforts to reduc ...Read More >
New Delhi, Sep 16 (SocialNews.XYZ) The government has directed insurance companies to proactively undertake outreach campaigns to publicise GST reforms and pass on the benefits to policyholders. M. Nagaraju, Secretary, Department of Financial Services (DFS), chaired a meeting with senior officials of DFS, IRDAI, CMDs of public sector insurance companies and CEOs of leading private sector life and non-life insurance companies and officials from Life Insurance Council and General Insurance Council here. The secretary highlighted prospective positive impact of the GST reforms in making insuranc ...Read More >
New Delhi, Jun 8 (PTI) Infosys has opened a new development centre at Gujarat International Finance Tec-City (GIFT City), Gandhinagar, to develop solutions for global Banking, Financial Services, and Insurance (BFSI) clients. The facility, designed to accommodate over 1,000 employees working in a hybrid model, was inaugurated by Gujarat Chief Minister Bhupendrabhai Patel. Also Read | Kolkata Fatafat Result Today: Kolkata FF Result for June 08, 2025 Declared, Check Winning Numbers and Result Chart of Satta Matka-Type Lottery Game. "It will function as a key TechFin hub, delivering advanced d ...Read More >
MUMBAI: As Tesla introduces its pioneering fleet of electric vehicles to the Indian market, insurance companies have designed comprehensive electric vehicle specific covers that guard against moisture buildup and electrical faults besides managing complex risks like exothermic reactions and charger problems. The covers that been launched to meet the infrastructure and technological demands of these cutting-edge vehicles offer features like battery and motor cover, charger protection, zero depreciation on replaced parts, return to invoice in case of total loss, flatbed towing to hydra services ...Read More >
Mumbai: After partnering with US-based investment powerhouse BlackRock and making its official entry into the mutual fund sector of India, businessman Mukesh Ambani's Jio Financial Services Limited has joined hands with Allianz Group to dominate the reinsurance sector in India. Both companies entered the reinsurance sector through their wholly owned subsidiary, Allianz Europe BV, with a 50:50 joint venture. In its exchange filing, JFSL informed about its latest partnership, stating that it will bring the company's deep local expertise and strong digital presence together with Allianz's global ...Read More >
Bengaluru (Karnataka) [India], September 16: Guidewire, a leading insurance technology provider for non-life insurance companies, announced the opening of its new office at Prestige Tech Park, Bengaluru. The move to a larger facility is indicative of Guidewire's tremendous growth in India as it continues to advance cloud-native solutions, attract top engineering talent, and help non-life insurers become digital-first companies. Also Read | BNB, Ethereum, and XRP Climb As Bitcoin's Market Share Slips. With more than 570 insurers in 43 countries relying on the Guidewire platform, the India tea ...Read More >
Bangalore (Karnataka) [India], April 1: CARD91 announced the launch of VerifyIQ, an AI-powered verification intelligence platform designed to help banks, NBFCs, and insurance/reinsurance companies make faster, more accurate, and policy-aligned onboarding decisions. Built with an AI-first approach, VerifyIQ brings together multi-source data aggregation, AI and machine learning-led data processing with confidence scoring, and configurable decision workflows in a single operating layer for verification-led decisioning. Also Read | 'Strait of Hormuz Will Be Opened, but Not for You': Iran's Nation ...Read More >
Aug 14 (Reuters) - Australian power producer Origin Energy (ORG.AX), opens new tab signalled higher operating earnings at its energy retailing segment in the coming year on Thursday after reporting better-than-expected 2025 earnings, sending its shares to the highest in over a decade. The country's largest gas and electricity retailer forecast underlying operating earnings from its Energy Markets division between A$1.4 billion and A$1.7 billion ($916.4 million-$1.11 billion) in fiscal 2026. The ...Read More >
Hyderabad (Telangana) [India], October 1: The Hartford, a leading U.S.-based insurance company, announces the grand opening of its new India Technology Center today in Hyderabad's Financial District. This strategic expansion reinforces the company's commitment to advancing artificial intelligence and digital innovation. Also Read | India Stock Market Today: Sensex Rises 144 Points, Nifty Holds Above 24,600 Ahead of RBI Repo Rate Decision. The Hartford will operate its cutting-edge technology center from the top two floors of Kalyani Trident, a facility designed to ignite innovation and energ ...Read More >
Mumbai, July 11 (SocialNews.XYZ) India's used-car market is growing rapidly and is expected to cross 6 million units this fiscal, driven by rising demand among value-conscious buyers, increasing digital adoption and easier access to financing, a new report said on Friday. The sales volume of used cars is growing at a pace of 8-10 per cent, which is more than twice the growth rate of new car sales, according to data compiled by Crisil Ratings. This surge has pushed the used-to-new car sales ratio to 1.4 this year, up from less than 1 five years ago, signalling a major shift in consumer behavi ...Read More >
PRNewswire Bangalore (Karnataka) [India], April 1: CARD91 announced the launch of VerifyIQ, an AI-powered verification intelligence platform designed to help banks, NBFCs, and insurance/reinsurance companies make faster, more accurate, and policy-aligned onboarding decisions. Built with an AI-first approach, VerifyIQ brings together multi-source data aggregation, AI and machine learning-led data processing with confidence scoring, and configurable decision workflows in a single operating layer f ...Read More >