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: Strengthening India's indigenous defence capabilities under the govt's Aatmanirbhar Bharat initiative, the defence ministry has inked a major capital acquisition contract with defence PSU Bharat Electronics Limited (BEL) for the procurement of two mountain radars, including associated equipment and infrastructure, for the Indian Air Force, at a cost of around Rs 1,950 crore.The installation and commissioning of these radars will boost the country's air defence and strengthen national security. The procurement will also reduce the dependency on foreign equipment.This mountain radar is indigenously designed and developed by electronics and radar development establishment of Defence Research and Development Organisation (DRDO) and will be manufactured by BEL.The contract, under Buy (Indian-indigenously designed, developed and manufactured) category, was signed in the presence of senior officials of the defence ministry and BEL on March 31. This was the last capital acquisition contract in the last financial year. The mountain radar uses active aperture phased array radar technology and functions as a 4D surveillance system. Unlike standard versions, these radars feature architectural and engineering adaptations specifically for high-altitude environments and rugged terrains like Ladakh and Arunachal Pradesh. The systems can easily be transported and deployed at high altitudes via helicopters.The radar, which has a detection range of up to 400 km for various aerial threats, can detect targets with a low radar cross section such as drones, helicopters, and fighter aircraft.
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 >
New Delhi, Jan 13 (UNI) Prime Minister Narendra Modi will launch 'Mission Mausam' on Tuesday to gaming to make India a 'weather-ready and climate-smart' nation. As per a statement from the Prime Minister's Office, Modi will also participate in the 150th Foundation Day celebrations of India Meteorological Department (IMD) at Bharat Mandapam here. He will also address the gathering on the occasion. "The Mission aims to achieve its aim by developing cutting-edge weather surveillance technologies and systems, implementing high-resolution atmospheric observations, next-generation radars and satel ...Read More >
C2C Advanced Systems shares made a strong debut on the NSE SME Emerge platform on December 3, listing at a premium of 90 percent at Rs 429.40 against the issue price of Rs 226. The much-anticipated listing came despite an earlier postponement, which saw a setback for the company after over 3.72 lakh applications worth Rs 27 crore were withdrawn following regulatory action by the Securities and Exchange Board of India (SEBI). C2C Advanced Systems, a vertically integrated defence electronics solutions provider, focuses on indigenously developed products for India's defence sector. Track All I ...Read More >
New Delhi [India], December 4 (ANI): The Central Bureau of Investigation (CBI) on Wednesday conducted searches at 10 locations in Delhi and surrounding areas in connection with an on-going investigation of a transnational cyber enabled fraud case involving large-scale financial scams. CBI registered the said case under Sections 403 and 420 of the Indian Penal Code and Section 66D of the Information Technology Act, 2000, based on a written complaint received from the Indian Cyber Crime Coordination Centre (I4C), Ministry of Home Affairs, Government of India. The complaint alleged that unknown ...Read More >
Jharkhand supplementary budget: The Jharkhand Assembly on Thursday (December 12) passed the second supplementary budget of Rs 11,697.45 crore for the 2024-25 fiscal year. Following the budget's passage, Speaker Rabindra Nath Mahato adjourned the four-day session of the assembly sine die. Finance Minister Radhakrishna Kishore tabled the second supplementary budget, with the largest allocation of Rs 6,390.55 crore directed to the Women, Child Development, and Social Security Department. This significant funding aims to enhance the government's flagship initiative, the Maiyan Samman Yojana. Und ...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 17 (VOICE) Fitness startup Curefit's consolidated loss has increased by 42 per cent to Rs 888.5 crore in FY24 from Rs 625.5 crore in FY23. The company's EBITDA loss surged by 123.4 per cent to Rs 587.97 crore in FY24 from Rs 263.2 crore in FY23. The reason for the increase in the company's loss in the last financial year is the high cash burn. Curefit's advertising and promotion expenditure has increased by 40.67 per cent year-on-year (YoY) basis to Rs 188.5 crore in FY24 from Rs 134 crore in FY23. At the same time, the company's expenditure on legal and professional services ...Read More >
NAGPUR: The state government presented supplementary demands amounting to ₹35,788 crore on the first day of the winter session of the state legislature. This has taken the total sum in supplementary demands presented in the current fiscal to ₹1,30,677 crore, including ₹94,889 tabled in July this year. The supplementary demands tabled so far are 19.43% of the state's budget, and the percentage is expected to go up further, after the last supplementary demands are tabled in February-March 202 ...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 >
The churning waters of the 21 Century maritime domain are no longer defined solely by steel-hulled might and firepower. Today, the true battleground lies in the unseen realms of algorithms, data streams and quantum states. The Indian Navy, a sentinel of the vast Indian Ocean Region (IOR), stands at the cusp of this technological revolution, leveraging artificial intelligence (AI) and quantum computing to secure its maritime sovereignty and amplify its geopolitical influence. India's journey into this brave new world is both a strategic necessity and an audacious leap. With China's growing nav ...Read More >
New Delhi, Dec 18 (PTI) Net direct tax collection grew 16.45 per cent year-on-year to over Rs 15.82 lakh crore till December 17 this fiscal, buoyed by higher advance tax mop-up, government data showed. Advance tax collection during the period rose 21 per cent to Rs 7.56 lakh crore. The collection includes corporate tax of over Rs 7.42 lakh crore and non-corporate tax mop-up of Rs 7.97 lakh crore. Securities Transaction Tax (STT) of Rs 40,114 crore was collected between April 1-December 17 of current fiscal year. Refunds worth Rs 3.39 lakh crore were issued during the period, registering a ...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 >
Russian drone attacks injured eight and damaged buildings in Kyiv and Odesa. Ukraine's air force downed many of the 132 drones launched overnight. Increased drone warfare marks significant territorial gains for Russia. Emergency services reported extensive damage in several Kyiv districts. In a significant escalation of hostilities, Russian drone attacks on Ukraine have injured at least eight people and caused widespread damage to residential buildings in Kyiv and the Odesa region. These attacks come as part of Russia's increased efforts along the eastern frontlines, with territorial gains be ...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 >
Zee Entertainment Enterprises Ltd (ZEEL) shares rose 5% on November 29 a day after shareholders rejected proposal to reappoint Punit Goenka as director. The media firm's shares rose over 5% to Rs 132.69 apiece on November 29. In a regulatory filing by the company on November 28, ZEEL said that the resolution for the reappointment of Goenka was defeated in the annual general meeting (AGM) of the company. Resolution number three in the AGM, which proposed the reappointment of Goenka as director, was supported by only 49.54 per cent of the total number of votes cast while 50.4 per cent voted a ...Read More >
Patna, Dec 13 (VOICE) The Bihar Public Service Commission 70th Preliminary Combined Examination will be conducted at 912 centres in the state on Friday.With these examinations, 2,031 posts in various government departments will be filled. A total of 4.80 lakh candidates have applied for the examinations, scheduled to start at noon and end at 2.00 p.m. The commission has issued guidelines for the candidates appearing for the examinations. The guidelines are: "Candidates are asked to bring two printed copies of their admit card, of which, the invigilator will keep one, proof of original ID is ...Read More >
India's Defence Acquisition Council (DAC) has approved a ₹21,772 crore package to strengthen maritime security. This includes 151 new boats for the Navy and six Advanced Light Helicopters (ALH) for the Coast Guard. These assets are designed for rapid response, surveillance, and rescue missions. With advanced technology and indigenous manufacturing under the "Aatmanirbhar Bharat" initiative, the acquisitions aim to address emerging maritime threats in the Indo-Pacific and reinforce India's role in regional security.The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh ...Read More >
New Delhi, Dec 12 (IANS) India's Index of Industrial Production (IIP) recorded a year-on-year growth of 3.5 per cent in October, up from 3.1 per cent in September this year, according to the data released by the Ministry of Statistics on Thursday.The industrial growth rate of the manufacturing sector, which accounts for more than three-fourths of the index of industrial production (IIP), recorded a growth of 4.1 per cent in October. The sector plays a key role in providing quality jobs to the young graduates passing out from the country's engineering institutes and universities. Within the m ...Read More >
Bhubaneswar: The dark dingy room of the jail in the city haunts Bhubanananda Tripathi even after 49 years and some months. The rattling noise of locks and bars, the unhygienic environs, the food that was bereft of taste and the scary nights came alive as Tripathi gets the news that the government of Odisha declares provision of pension to all those who had spent countless sleepless nights in prison during the Emergency in 1975. Tripathy is one of the 1200 brave souls from Odisha who were among 1.1 lakh arrested during Emergency and endured torture, humiliation and their crime was - demanding ...Read More >
West Bengal [India], February 5 (ANI): At the 8th edition of the Bengal Global Business Summit 2025, Bhutanese Minister Younten Phuntsho emphasised the importance of the summit as a platform for strengthening the collaboration between India and Bhutan. Addressing the audience, he said, "For Bhutan, this summit is an opportunity to further deepen our (India-Bhutan) collaboration and identify strategic areas where our shared aspirations align. There are several key areas where we can forge even stronger partnership - first is tourism, we invite investors to explore opportunities in wellness tou ...Read More >
An overnight drone attack by Kyiv targeted Bryansk, a Russian border region. Air defense units managed to destroy 26 Ukrainian drones. This statement was released by Alexander Bogomaz, the governor of the region, emphasizing ongoing defensive measures. In an escalating conflict between Ukraine and Russia, Ukrainian forces initiated a drone offensive targeting the Bryansk region, which lies along the Russian border. According to regional governor Alexander Bogomaz, air defense units successfully neutralized 26 drones launched from Ukrainian territory, demonstrating the heightened military ten ...Read More >
By diluting a part of its stake, or by selling shares worth $500 million, Prosus made gains of over $2 billion just from betting on Swiggy. Food tech and grocery delivery company Swiggy reported a revenue of $750 million (around Rs 6,300 crore) in the first half of financial year 2025 (H1FY25), up 40 percent from $536 million (about Rs 4,500 crore) recorded during the same period last year, Prosus, one of the company's largest shareholders, said in its half yearly disclosures. During the same time, its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) improved ...Read More >
The report highlighted that the investors appear to be exercising caution, reflecting a shift in confidence toward new market entrants. It said, "A mix of disappointing IPO listing and a sharp decline in market sentiments has resulted in reduction in IPO subscription in last 2 months." The report stated that during the current financial year (FY2024), 54 IPOs have been listed, of which 38 are trading above their issue price, suggesting a mixed performance. It added that the historical data from July 2020 to November 2024 provides a broader view, out of 252 IPOs launched during this period, ...Read More >
New Delhi, Jan 31 (PTI) Markets regulator Sebi on Friday barred two individuals from the securities market for one year and impounded illegal gains of over Rs 2.60 crore made by them from indulging in insider trading in the scrip of Infosys. Those restrained by Sebi are, Keyur Maniar, who was the alleged insider trader, and Ramit Chaudhri, a former employee of Infosys, according to an order passed by capital markets regulator Sebi. Apart from securities market ban, the regulator also slapped a fine of Rs 30 lakh each on Keyur Maniar and Chaudhri and directed them to pay the fine within 45 da ...Read More >
Mangaluru, Jan 17 (PTI) A gang of armed robbers looted valuables estimated over Rs 4 crore from the Sahakari Sangh Bank in Kotekar, Mangaluru, on Friday, police said. This comes close on the heels of two unidentified armed robbers on a bike shooting dead two security guards and fleeing with Rs 93 lakh in cash meant for filling an ATM in Bidar, the northernmost district headquarters of the state, on Thursday. The Mangaluru heist occurred between 11.30 am and 12.30 pm, with the assailants fleeing in a blue Fiat car, police said. According to the police, a group of five to six masked men, aged ...Read More >
New Delhi, Feb 5 (UNI) The Union Finance Ministry has asked its officials to avoid using ChatGPT, DeepSeek and other artificial intelligence (AI) tools in office devices as such applications could pose risks to confidentiality of government data and documents. "It has been determined that AI tools and AI apps (such as ChatGPT, DeepSeek etc) in the office computers and devices pose risk for confidentiality of Govt data and documents," read the circular dated January 29, 2025. "It is, therefore, advised that the use of AI tools/AI apps in office devices may be strictly avoided," it further sai ...Read More >
Mumbai, Feb 7 (PTI) Reserve Bank Governor Sanjay Malhotra on Friday said India can certainly achieve over 7 per cent growth rate and the nation should aspire for that. The Reserve Bank of India (RBI) in its bi-monthly monetary policy has projected 6.7 per cent growth for financial year 2025-26, up from 6.4 per cent estimated for the current fiscal. "I would like to stick my neck out and say that, certainly India can achieve a 7 per cent and plus growth rate. We should certainly aspire for that," he said when asked whether there was a possibility of the Indian economy growing at a faster pace ...Read More >
New Delhi [India], November 27 (ANI): The Ministry of Defence informed on Wednesday that it will conduct a two-day 11th National Maritime Search and Rescue exercise and workshop for the Indian Coast Guard (ICG) in Kerala's Kochi. The workshop will be undertaken from November 28 to 29 and the event will be inaugurated by Defence Secretary Rajesh Kumar Singh. ICG Director General S Paramesh, also the National Maritime Search and Rescue Coordinating Authority, will also remain present during the event. The theme of the event will be 'Enhancing Search and Rescue capabilities through regional coll ...Read More >
Cyber Monday is a major online shopping event celebrated the Monday after Thanksgiving in the United States. It was created by retailers in 2005 as a way to encourage people to shop online, following the popularity of Black Friday sales. The day has grown in significance over the years, offering deep discounts across a wide range of products, from electronics to fashion, often rivaling the in-store deals of Black Friday. This year, Cyber Monday falls on December 2, 2024, providing consumers with another opportunity to grab deals before the holiday season peaks. The event has become a global ph ...Read More >
The report underlined a sharp slowdown in incremental credit and deposits compared to the previous year, indicating a challenging environment for banking sector growth. It said, "It's clear that credit growth is declining across sectors as momentum has turned negative, even as favorable base effect is waning". The report highlighted that as of November 15, 2024, incremental credit from all scheduled commercial banks (ASCBs) has grown by Rs 9.3 lakh crore, marking a year-to-date (YTD) growth of 5.3 per cent. This is a significant drop from last year's growth of Rs 19.4 lakh crore (YTD 14.2 pe ...Read More >