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: The rupee, which has been bleeding since October 2024, ended FY26 on a bloody note, losing 9.5% at 94.83 after breaching the 95-mark on the last trading day of the year, making it the sharpest fall against the greenback in as many as 14 years and becoming the worst Asian currency for the second year on the trot. Last financial year also, the rupee was the worst Asian currency, losing nearly over 2.5% and the third worst in the world after the Turkish lira and the Argentinian peso, which both lost over 45% each. The rupee opened FY26 at 86.60 on April 2, 2025 and ended the year at 94.83 on March 31, at the record closing low after plumbing to 95.24 intraday on the last trading day of the fiscal. The currency lost as much as 9.55% in the year, which is the sharpest yearly plunge for it since FY11, driven by a confluence of global economic pressures and geopolitical events, prompting intervention from the Reserve Bank. In FY12, the unit had declined by 12.4% against the dollar when the current account deficit had widened to 4.2% after the US Fed began to unwind its quantitative easing. It may be noted that the rupee was at 58.58 to the dollar on May 26, 2014, when Prime Minister Narendra Modi, who promised one rupee for a dollar during his campaign, took office. Between May 26, 2014 and March 30, 2026, the rupee lost as much as 61.6% against the dollar. Persistent foreign fund outflows -- FIIs pulled out $14 billion in March and at least $36 billion in FY26 from the domestic equities -- elevated crude prices which crossed $120 a barrel during the year after Iran came under attack, and a strengthening dollar globally contributed to the rupee depreciation. March alone saw the rupee losing 5.5% weighed down by the Iran war and the resultant spike in crude prices. This deep plunge comes despite the Reserve Bank of India intervening by selling $55.073 billion and introducing regulatory measures to curb speculation. Ironically, the harshest measure announced last Friday had no tangible impact on speculators as the rupee closed at a new record low a day after the central bank capped the daily open position in the NDF market at $100 million, effective April 10.
India's manufacturing sector growth fell to a joint 11-month low, restricted by competitive conditions and inflationary pressures India's manufacturing sector growth fell to a joint 11-month low of 56.5 in November, restricted by competitive conditions and inflationary pressures amid a softer increase in factory orders, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in October to 56.5 in November, signalling a softer improvement in the health of the sector. However, the pace of growth remained above its long-r ...Read More >
MUMBAI/NEW DELHI -- The Reserve Bank of India (RBI) on Friday slashed its economic growth forecast for the current financial year ending in March to 6.6% from the 7.2% projected in October after seeing "much lower than anticipated" gross domestic product expansion of 5.4% in July-September. "This decline in [the July-September quarter] growth was led mainly by a substantial deceleration in industrial growth from 7.4% in Q1 to 2.1% in Q2 due to subdued performance of manufacturing companies, contraction in mining activity and lower electricity demand," RBI Gov. Shaktikanta Das said in a televi ...Read More >
The Reserve Bank of India raised the interest rate caps on Foreign Currency Non-Resident Bank (FCNR-B) deposits to attract more capital inflows, amid pressures on the rupee. Starting December 6, banks can offer higher rates -- up to 400 basis points for 1-3 year deposits and 500 basis points for 3-5 year deposits -- until March 31, 2025. This move comes as the rupee faces volatility.The Reserve Bank of India on Friday announced a raise in the interest rate caps on the Indian diaspora's foreign cu ...Read More >
Mumbai (Maharashtra) [India], December 11 (ANI): The Indian stock markets continue to be in a consolidation phase as both indices opened flat on Wednesday. The Nifty 50 index opened at 24,620.50 points with a surge of 10.45 points or 0.04 per cent, while the BSE Sensex opened at 81,568.39 with a gain of 58.34 points or 0.07 per cent. Also Read | 'Suriya 45': Is Trisha Krishnan the Female Lead in Suriya Sivakumar's Upcoming Film With RJ Balaji? Check Out the Viral Photos. Experts noted that the US Consumer Price Inflation data will be the major event for markets globally. However, the consol ...Read More >
NEW DELHI (Reuters) - India's retail inflation eased in November as soaring vegetable prices moderated, boosting expectations of an interest rate cut by the central bank at its next policy review amid concerns around slowing growth. Retail inflation eased in November to 5.48%, lower than 6.21% in the previous month and below a 5.53% forecast by economists in a Reuters poll. Food inflation slowed down to 9.04% from 10.87% a month earlier. Food accounts for nearly half of the consumption basket. Vegetable prices rose 29.33% in November from a year earlier after rising 42.18% in October. Indi ...Read More >
The Reserve Bank of India (RBI) on Friday received the second bomb threat in less than a month. The Reserve Bank of India (RBI) on Friday received the second bomb threat in less than a month, which was reportedly delivered via email in Russian language to the bank's official website. Acting on the bank's complaint, the Mumbai Police launched an investigation and filed a case against an unknown individual at the Mata Ramabai Marg (MRA Marg) police station. The Zone 1 DCP of the Mumbai Police sa ...Read More >
Mumbai, December 4: The domestic benchmark equity indices closed in green on Wednesday as buying was seen in PSU bank and realty sectors. The investors are keenly watching the Reserve Bank of India's (RBI) monetary policy committee (MPC) meeting which will announce its decision around the repo rate on Friday. Banking stocks rose amid volatile sessions in the market due to the possibility of Cash Reserve Ratio (CRR) cut by the central bank. Sensex settled at 80,956.3, higher by 110.58 points, or 0.14 per cent, while the Nifty ended at 24,467.45, up by 10.30 points, or 0.04 per cent. Stock Mark ...Read More >
India's growth in gross domestic product (GDP) of 5.4% in the three months ended 30 September, or the second quarter of 2024-25, was a shocker. It undershot even the most pessimistic forecasts. It's the lowest level seen since the third quarter of 2022-23 and a sharp drop from 8.1% growth in the same period last year and also from 6.7% in the first quarter of 2024-25. The consensus expectation stood at about 6.5% and the Reserve Bank of India (RBI) was expecting around 7% growth till its October policy, only to pare it to 6.8%. Growth in gross value added (GVA), which is the preferred measure ...Read More >
New Delhi: The Reserve Bank has approved the open offer of Burman family -- the promoters of FMCG major Dabur -- to acquire an additional 26 per cent stake in NBFC firm Religare Enterprises Ltd (REL). The central bank also directed maintaining of the current board/management structure of REL. The Reserve Bank of India (RBI) said it has granted its "approval for the proposed increase in shareholding of existing shareholders" -- four Burman family entities Puran Associates, VIC Enterprises, M B Finmart, and Milky Investment & Trading Company -- in Religare Enterprises Ltd (REL). "The acquirers ...Read More >
ess than 24 hours after he asserted in Nigeria's Abuja that stepping out of the comfort zone, innovating and creating new paths has now become the very essence of today's India, Prime Minister Narendra Modi on Monday told the gathering of world's most influential leaders converged in Rio de Janeiro for the G20 Summit that the main reason for India's success lies in his government's 'back to basics' and 'march to the future' approach. Addressing the G20 session on 'Social Inclusion and the Fight Against Hunger and Poverty' at the bayside museum of modern art during the two-day 19th G20 Summit, ...Read More >
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At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close The rupee fell 2 paise to trade at 84.49 against the U.S. dollar in early trade on Friday (November 29, 2024) dragged down by significant foreign fund outflows and month-end dollar demand from importers. Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks. At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close. On ...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 >
Guwahati (Assam) [India], December 13 (ANI): AIUDF MLA and Party General Secretary Dr Rafiqul Islam responded to the Union Cabinet's approval of the 'One Nation, One Election' and labelled the bill "very difficult and almost impossible" to implement effectively, questioning its sustainability given the country's vast and diverse political landscape. The AIUDF MLA claimed that the BJP lacks the majority to pass the bill in Parliament and suggested it might be referred to a Joint Parliamentary Committee (JPC). Also Read | Atul Subhash Suicide Case: Wife Nikita Singhania Absconds, Karnataka Pol ...Read More >
H.E. Josel Francisco Ignacio, current Ambassador of the Philippines to India shares his credentials with President Droupadi Murmu On 16 November 1949, the Philippines and India, the two independent democracies would forge diplomatic ties. The two republics were born just a few years apart, first set out on the road to their bilateral friendship and collaboration. This inaugurated a period of closer government interaction, commerce and investment, and other bilateral and multilateral cooperation. Building on much common ground in history, democratic ideals, socio-economic imperatives and aspi ...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 >
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 >
Mumbai, November 29: The Indian stock market opened in green on Friday as buying was seen in the Media and Pharma sector in early trade. At around 09.44 a.m., the Sensex was trading at 79,369.57 after gaining 325.83 points or 0.41 per cent, while the Nifty was trading at 24,019 after rising 104.85 points or 0.44 per cent. The market trend remained positive. On the National Stock Exchange (NSE), 1345 stocks were trading in the green, while 876 stocks were in the red. Nifty Bank was up 224.45 points or 0.43 per cent at 52,131.30. Nifty Midcap 100 index was trading at 56,397.95 after gaining 97. ...Read More >
Rupee has maintained its position as one of the best performing Asian currencies, despite the ongoing challenges and geopolitical crisis in the Middle East. Pankaj Chaudhary, Minister of State for Finance on Monday said that this stance indicates India's strong economic fundamentals. In a written reply in the Lok Sabha, he mentioned that Rupee's is market-determined, not limited to any target or specific level. He noted that, as of November 19, 2024, the domestic currency had dropped 1.4 percent against the US dollar in the current calendar year (CY) 2024 and decline was primarily driven by ...Read More >
The Chinese yuan was also facing its own challenges from the growing threat of more U.S. tariffs on China, pushing it down to a 13-month trough. Japan's tech-heavy Nikkei jumped 1.6% as of 0200 GMT, and South Korea's KOSPI advanced 1.7%. Taiwanese shares gained 1.1%. Australia's stocks benchmark rose 0.7% and reached a fresh all-time high. However, Chinese stocks were under pressure, with Hong Kong's Hang Seng edging slightly lower and mainland blue chips falling 0.3%. MSCI's broadest index of Asia-Pacific shares added 0.7%. Both S&P 500 and Nasdaq futures were flat after the cash indexes ...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 >
(Bloomberg) -- Indian bonds are poised to gain while the rupee is set to weaken as analysts bet on a softer monetary policy after the government named career bureaucrat Sanjay Malhotra as the new Reserve Bank of India governor. Most Read from Bloomberg Malhotra, a surprise pick, will take charge from Shaktikanta Das under whom the RBI kept borrowing costs unchanged for almost two years. While Malhotra's views on monetary policy are largely unknown, he recently urged revenue officials to prioritize economic growth, and the markets may read his appointment as dovish. The central bank is expec ...Read More >
Cybercrime is quickly increasing in India, with reports surfacing daily about victims losing large sums of money to scammers. These scammers often use tactics like threatening a "digital arrest" to instill fear and pressure individuals into transferring money. They typically operate from foreign countries to evade capture by law enforcement. The Indian government, including Prime Minister Modi, is actively raising awareness about these scams. Recently, the Department of Telecommunications (DoT) issued a warning to the public regarding international fraud calls. They advised people to be caut ...Read More >
Trump's pressure on countries to remain tied to a US-dollar-based financial system could backfire, with potential increased motivation for BRICS to create alternatives. While the dollar's dominance persists due to existing economic strengths, recent global currency agreements indicate a cautious shift away from reliance on the greenback.Donald Trump's pressure on countries around the world to stay anchored to a US-dollar-based financial system is a tactic that risks backfiring, market watchers say. Dollar dominance looks set to continue for the foreseeable future and emerging nations' idea of ...Read More >
Asian and European stocks surged thanks to tech companies driving Wall Street to record highs. Japan's Nikkei and several European indices rose, while the US dollar stabilized after a previous surge. Political tensions in France and tariff threats from the US also affected market movements and currency valuations. Stock markets across Asia and Europe experienced a resurgence on Tuesday, driven in part by a strong performance in tech stocks in the US. Japan's Nikkei index surged by 1.91%, and the MSCI Asia index saw a 1.16% rise, bolstered by Wall Street's record highs overnight. European ind ...Read More >
New Delhi [India], December 12 (ANI): The gross NPA ratio of public sector banks declined to 3.12 per cent in September 2024 from 4.97 per cent in March 2015 and a peak of 14.58 per cent in March 2018, the government stated on Thursday, reaffirming the robustness of the banking system. The government emphasised its proactive support for the banking ecosystem, addressing both business needs and employee welfare to ensure stability, transparency, and growth. Also Read | Places of Worship Act Validity: Supreme Court Restrains Courts in Country Not to Entertain, Pass Orders on Suits Related to R ...Read More >
Major blast outside Badshah's nightclub in Chandigarh, glass window shatters; no casualty Amid linkup rumours with Abhishek Bachchan, Nimrat Kaur says 'that spotlight belonged to you': 'Main ta bahut lucky..' 'One Nation One Subscription': Centre's scheme to ensure access to research articles, journals EXPLAINED Shillong Teer Results TODAY November 26, 2024: Check winning numbers here Meet woman who has become the youngest to travel all 195 countries, she is from... Kerala lottery TODAY November 26 Live Sthree Sakthi SS 443 Tuesday, check winning ticket, prize money here The Matrix villa ...Read More >
From user-friendly interfaces to competitive profit margins, several platforms have emerged as favorites among traders in 2024. As binary options trading continues to gain traction in India, many investors are eager to identify the platforms that deliver the best results. With a growing number of options available, traders need to understand the features and benefits of each platform to find one that suits their needs. From user-friendly interfaces to competitive profit margins, several platforms have emerged as favorites among traders in 2024. Are you ready to discover which platforms are wi ...Read More >
Stock market today: The Indian stock market clocked healthy gains for the third consecutive session on Tuesday, December 3, led by gains in shares of select heavyweights, including Reliance Industries, HDFC Bank and Larsen and Toubro. Benchmark index Nifty 50 jumped 0.70 per cent to the level of 24,445.80, breaking above its 50 and 100-day exponential moving averages (DEMA). According to Trendlyne, an equity research platform, Nifty 50 is above its 100-day EMA of 24,306 and 50-day EMA of 24,364. However, the index is yet to breach its 50-day and 100-day simple moving averages (SMAs) of 24,643 ...Read More >
Mumbai: The rupee slumped to its all-time low of 84.76 (provisional) against the US dollar after dropping 8 paise on Wednesday amid a strengthening greenback and increase in crude prices. Forex traders said a positive trend in domestic equity markets and foreign fund inflows supported the local unit at lower level. At the interbank currency exchange, the rupee opened at 84.66 and traded in the range of 84.65-84.76. Eventually it settled at 84.76 (provisional), 8 paise lower than Tuesday's close of 84.68. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said, the rupee lost initial ...Read More >