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, Apr 2 (PTI) The government has directed oil refineries to divert a portion of the feedstock normally used for producing cooking gas (LPG) to industries affected by the ongoing petrochemical shortage, which spans sectors from packaging to condom manufacturing. The Ministry of Petroleum and Natural Gas, on April 1, directed refineries to allocate a portion of propylene to the petrochemical industry, which has been severely affected, as most feedstock has been diverted for cooking gas (LPG) production. At an inter-ministerial briefing on the fallout of developments in West Asia, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said following the disruption in India's LPG supplies from the Middle East due to the war, the government had asked refiners to maximise LPG production so as to meet cooking gas requirements. This maximisation of LPG production was done by diverting streams that were previously used for making petrochemicals. "But then there are certain other sectors which also need some of these molecules and thereby this decision has been taken," she said. Before the outbreak of conflict in the Middle East on February 28, India imported about 60 per cent of its LPG consumption, out of which about 90 per cent was transiting through the Strait of Hormuz. The strait has been effectively shut, impacting supplies of imported LPG in the country. To boost domestic production of LPG, the Government on March 9 issued directions to all oil refining companies, including petrochemical complexes, that the entire output of C3 and C4 hydrocarbon streams - such as propane, butane, propylene and butenes - is utilised exclusively for LPG production and supplied only to the public sector oil marketing companies. Refineries were also instructed not to divert these streams for the manufacture of petrochemical products or any downstream derivatives. This led to the stoppage of the supply of propylene, disrupting the plastic manufacturing industry. Production of packaging material was hit, impacting the food and beverage industry as well as the fast-moving consumer goods (FMCG) sector. Even the condom industry ran short of raw material. To meet their demand, the ministry has asked refiners to allocate a portion of propylene to the petrochemical industry. "This move will have an impact on supplies available for domestic LPG, but it will be ensured, and it has been ensured that supplies to domestic consumers are not affected," Sharma said. She went on to state that the decision to temporarily abolish customs duty on the import of certain petrochemicals will also help the industry hurt by LPG production. "I am very very hopeful that it will give us very good results," she added. While domestic LPG supplies have been prioritised, commercial LPG supplies were initially impacted. Subsequently, the government restored partial supplies of 20 per cent to commercial consumers, which was further enhanced to an overall allocation of 50 per cent, including 10 per cent linked to piped natural gas (PNG) expansion reforms. This allocation has been prioritised for key sectors such as restaurants, dhabas, hotels, industrial canteens, food processing and dairy units, subsidised canteens run by State Governments or local bodies, community kitchens, and 5 kg cylinders for migrant labourers. Sharma said 4.3 lakh 5 kg LPG cylinders have been sold, and since March 14, 60,000 tonnes of commercial LPG have been uplifted across States and UTs. Additionally, educational institutions and hospitals continue to receive priority, accounting for around 50 per cent of the total commercial LPG allocation. In continuation of these measures, the government has further enhanced allocation of commercial LPG by an additional 20 per cent, taking the total allocation to 70 per cent of the pre-crisis level (including the 10% reform-linked component). This additional allocation is being prioritised for labour-intensive and core industrial sectors, including steel, automobile, textile, dye, chemicals and plastics, with preference to process industries and those requiring LPG for specialised heating purposes where substitution with natural gas is not feasible. PTI ANZ ANZ MR
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 >
New Delhi [India], June 6 (ANI): Aadhaar number holders carried out over 211 crores authentication transactions, pushing the total number of such transactions since Aadhaar's inception to more than 15,223 crores (152.23 billion), according to a release by the Ministry of Electronics & IT. The ministry reported that the transaction in May 2025 saw more transactions, as compared to the same month last year, when 201.76 Cr such transactions were carried out. This growth in number is a reflection of how Aadhaar-based authentication has been playing a facilitating role in effective welfare delive ...Read More >
New Delhi: There is a lot of activity happening in the Middle East/West Asia right now. Israel is keeping an eye on the ongoing negotiations between Iran and the United States regarding the nuclear deal. Israel has assured the United States that it will not attack Iran's nuclear sites unless the nuclear talks between the U.S. and Iran completely fail. This information has emerged from the U.S. news website 'Axios.' According to reports, citing two Israeli officials, Israel provided this assurance during a meeting that took place last week in Washington, which included Israel's Minister of Str ...Read More >
Mumbai, June 7 (SocialNews.XYZ) The Nifty Microcap 250 index posted a strong performance in the month of May, rising 12.10 per cent, while the Nifty Smallcap 250 also recorded an impressive 9.59 per cent gain, according to a report released on Saturday. The broader market remained positive throughout the month, with smaller companies leading the rally, said the latest 'Global Market Snapshot' report by Motilal Oswal Asset Management Company. Over the past year, the Nifty Microcap 250 grew by 13.74 per cent, and the Nifty Smallcap 250 gained 7.72 per cent, showing continued investor interest ...Read More >
NEW DELHI: Axiom-4 crew members, including Shubhanshu Shukla, were welcomed with hugs and drinks as they stepped into the International Space Station on Thursday. The newly launched spacecraft -- the fifth in the Dragon series and named Grace -- successfully completed a soft docking with the International Space Station at 4.01pm while orbiting above the North Atlantic Ocean."At 6:31 am EDT (4:01 IST) on Thursday, the SpaceX Dragon spacecraft docked to the International Space Station for the fourth private astronaut mission to the orbiting laboratory, Axiom Mission 4," the National Aeronautics ...Read More >
xternal Affairs Minister (EAM), S. Jaishankar, on Monday, met with the Foreign Minister of Ukraine and discussed the conflict with Russia at the sidelines of the MED Mediterranean Dialogues Conference in Rome, Italy. Apart from Ukraine, EAM Jaishankar met with his counterparts from France, Lebanon, and Croatia as well. On his meeting with the Ukrainian Foreign Minister Andrii Sybiha, the EAM reiterated India's support for "dialogue and diplomacy" to end the long-running conflict. "Good to meet FM of Ukraine @andrii_sybihain Rome today. Useful exchange on advancing our bilateral cooperation. ...Read More >
New Delhi, Jan 31 (VOICE) The output of India's eight core sector industries rose 4 per cent year-on-year in December, driven by an increase in the production of coal, steel, and electricity during the month, according to government data released on Friday.The eight core industries include coal, natural gas, crude oil, refinery products, fertilisers, cement, steel and electricity which comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). The growth rate of the core industries, therefore, is an indicator of the overall industrial growth rate. Apa ...Read More >
New Delhi: A surge in sales may be around the corner for some of India's leading packaged consumer goods makers, as cheaper inputs and lower import duties craft a perfect recipe for their next stage of growth. Companies and analysts alike said that falling prices of wheat, maize, barley and oils will help expand volumes, in a change from the recent experience of pricier products driving revenue. On 31 May, the government halved the basic customs duty on crude soybean oil, crude palm oil, and crude sunflower oil to 10%, eight months after raising it from nil to 20%. The move had prompted pack ...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 >
India Quality Conclave 2024: Driving Excellence in Quality Management Presto Group proudly presents the India Quality Conclave 2024, set to take place on November 30 at Crowne Plaza, New Delhi. This transformative event will bring together industry leaders from packaging, FMCG, pharmaceuticals, and other sectors to discuss cutting-edge quality improvement practices. Key highlights include strategies for cost reduction, boosting QC team productivity, and ensuring hassle-free audits. Attendees will benefit from keynote speeches, case studies, panel discussions, and a special book launch, Per ...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 >
The escalating conflict could upset a hard-fought consensus that G20 negotiators reached around 5 a.m. on Sunday, after an overnight push to ready the joint statement for final review by leaders arriving in Rio. That preliminary consensus after six days of negotiations included streamlined language about global conflicts including the war in Ukraine, focusing on the need to negotiate peace rather than criticism of any participants. However, sources said even that "simpler" consensus may now be up for reconsideration following the Russian air strike and the prospect of further escalation. Un ...Read More >
Sunmei Hotels Group has announced the launch of Sunmei Group International (SGI) and three new overseas brands—SHANKEE, PENRO, and LANOU—marking its expansion into the UAE market. The company plans to introduce SHANKEE Hotels, a smart economy brand, to cities like Dubai, Abu Dhabi, and Riyadh. SGI focuses on smart marketing, modular renovations, and intelligent operations, leveraging big data and AI to enhance service and guest experiences. Chairman Ma Yingyao aims to open 100 hotels globally within the next decade, doubling revenue and establishing a strong international presence for Chinese ...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 >
New Delhi: ONGC's production trend is beginning to turn after eight straight years of fall as a key new field in KG Basin ramps up and the old Mumbai High asset arrests decline. ONGC's crude production rose 3% year-on-year in November to 53,804 tonnes per day (tpd) and the output growth so far in December has accelerated to 4.2% to 54,535 tpd, according to people with knowledge of the matter. The output was marginally higher in three of the first seven months this fiscal year but there is a cle ...Read More >
New Delhi, June 5 (SocialNews.XYZ) Aadhaar number holders executed over 211 crore authentication transactions in May this year taking the cumulative number of such transactions to more than 15,223 crore since inception, according to a statement issued by the Ministry of Electronics & IT on Thursday. The May authentication transactions are more than the previous month, as well as of May 2024 when 201.76 Cr such transactions were carried out. The growing number shows, how Aadhaar-based authentication has been playing a facilitating role in effective welfare delivery, and voluntarily availing v ...Read More >
NEW DELHI: Former head of Air India and chairman of the Railway Board Ashwani Lohani is the new Prime Ministers Museum and Library (PMML) director. The official order for his appointment was issued on Wednesday. A 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), Lohani is known for turning around various organisations during his illustrious career. Following his retirement from IRSME service, he joined the GMR Group as the CEO. According to the order dated June 4, his appointment to the post of director, Prime Ministers Museum and Library in the rank and pa ...Read More >
New Delhi, Jun 6 (PTI) The reduction in import duty on edible oils, including palm, soya and Sunflower, is going to help FMCG companies improve their margins and stabilise their input costs, according to experts. Palm Oil, which the FMCG companies use as a key ingredient for the manufacturing of soaps and even food products, will also help cool down consumer monthly inflation, experts said. The move will not only benefit the food companies, for which palm oil is almost 25-30 per cent of their raw material costs but also lower PFAD prices (Palm Fatty Acid Distillate), a byproduct used by soap ...Read More >
New Delhi [India], June 8 (ANI): The Nifty 500 index climbed 3.50 per cent in May, driven by steady gains in Industrials, Consumer Discretionary, and Financial Services sectors, an analysis by the Motilal Oswal observed. Sectoral indices of FMCG (Fast-Moving Consumer Goods) and utilities underperformed, posting slight declines of -0.09 per cent and -0.04 per cent, respectively, as per the analysis. Also Read | Indore Horror: Dog Carries Baby Girl's Body in Its Jaws at Madhya Pradesh Hospital, Mutilated Body of Newborn Recovered, Probe On. As per the observation, broader market sentiment rem ...Read More >
New Delhi [India], December 3 (ANI): Oilfields (Regulation and Development) Amendment Bill, 2024 to expand the definition of mineral oils and include petroleum and natural gas passed in the Rajya Sabha on Tuesday. The bill was introduced by Union petroleum and natural gas minister Hardeep Singh Puri for consideration and passing. The Bill will regulate the exploration and extraction of natural gas and petroleum. The amended bill expands the definition of mineral oils to include petroleum and natural gas in it. Also Read | Pune: Doctors Perform Rare Laser Surgery on Woman Pregnant With Monoam ...Read More >
Still, the ongoing U.N. climate talks have thrown a spotlight on their efforts to tackle global warming. While the COP29 summit in Baku, Azerbaijan, is tasked with agreeing a goal to mobilize hundreds of billions of dollars for climate, leaders of the Group of 20 major economies half a world away in Rio are holding the purse strings. G20 countries account for 85% of the world's economy and are the largest contributors to multilateral development banks helping to steer climate finance. "The spotlight is naturally on the G20. They account for 80 percent of global emissions," U.N. Secretary Ge ...Read More >
In the Indo-Pacific region, if one development would prove to be a landmark event in the region's modern history, it would be the signing of the Treaty of Comprehensive Partnership between North Korea and Russia in June 2024. The partnership has paved the way for strengthening bilateral ties between Moscow and Pyongyang and marked the onset of the global order transition, which was already underway. The institutionalization of the U.S., South Korea, and Japan's trilateral security cooperation has also given Russia and North Korea another strategic reason to collaborate. Therefore, with the geo ...Read More >
New Delhi, Jun 6 (PTI) Almost every manufacturer in India, across various segments covered in a survey, has either invested in artificial intelligence and machine learning technology or is planning to do so, a senior officer from Rockwell Automation said on Friday. While sharing details of the survey, Rockwell Automation India Managing Director Dilip Sawhney told PTI that in a survey on smart manufacturing conducted two years ago, about two-thirds of organisations said they would either have already invested in AI or planned to do so in the next 12 months or thereafter. This figure crossed th ...Read More >
New Delhi [India], June 7 (ANI): The New Coast Guard Jetty at Vizhinjam was inaugurated by Director General S Paramesh, AVSM, PTM, TM of Indian Coast Guard in the presence of Inspector General Bhisham Sharma, PTM, TM, Commander Coast Guard Region(West) in an official ceremony held at Vizhinjam on Saturday, a release said on Saturday. As per the release, the CG Jetty at Vizhinjam will be a cutting-edge in safe berthing and swift deployment of surface assets. The newly inaugurated berth with 76.70 M length, 8 M Breadth and 4- 6 M depth can accommodate the present Coast Guard vessels held at Viz ...Read More >
New Delhi [India], June 26 (ANI): The Ministry of External Affairs clarified India's position on importing crude oil from Iran on thursday, stating that energy purchases are based on 'market factors and the prevailing global situation.' 'Our energy requirements, or the energy purchases we make, are based on market factors and the prevailing global situation,' MEA spokesperson Randhir Jaiswal said in THEIR weekly briefing. Further, the Ministry also expressed deep concerns about the situation in West Asia, including the Israeli attacks on nuclear scientists and certain universities in Iran. ...Read More >
Hyderabad: Chief Minister A Revanth Reddy on Thursday warned educational institutions that cases would be booked against them if drugs were found in their premises. The CM announced that the state's Anti-Narcotics Bureau would henceforth be known as Elite Action Group for Drug Law Enforcement (EAGLE) and was tasked with curbing the menace of narcotics in the state. Speaking at an event marking the International Day Against Drug Abuse and Illicit Trafficking 2025 at Shilpakala Vedika here, Reddy placed an onus on educational institutions to ensure their campuses were free of drugs. "It is the ...Read More >
MUMBAI: Corporate India showed signs of renewed vigour in 2024-25, with listed private non-financial companies reporting a sales growth of 7.2%, an improvement from the anaemic 4.7% recorded the previous year. Data from Reserve Bank of India, based on financial statements of 3,902 listed non-government non-financial firms, point to a broad-based if uneven recovery-tempered by rising input costs and tightening margins.Manufacturing companies saw sales climb by 6.0%, up from 3.5% the year before. The uptick owed much to strong performances in automobiles, electrical machinery, food and beverages ...Read More >
Sir Speedy, PIP, and Signal Graphics Drive Growth in Print Marketing Sir Speedy, PIP, and Signal Graphics, renowned leaders in print and marketing services, are seeing rising demand as small businesses turn to print for affordable, impactful marketing tools like brochures, flyers, and catalogs. Combined sales for these brands grew 5% in 2023, with expectations to surpass that in 2024. Richard Lowe, COO of Franchise Services, Inc., highlights the enduring value of print in creating personal connections in a digital world. Celebrating 50 years of family franchises, these brands showcase a leg ...Read More >
Mumbai, December 13: Indian benchmark indices Sensex and Nifty fell more than 1 per cent on Friday. At around 10.51 a.m., the Sensex fell 1,017.03 points or 1.25 per cent to 80,272.93, while the Nifty fell 306.80 points or 1.25 per cent to 24,241.90. The market trend remained negative. On the National Stock Exchange (NSE), 340 stocks were trading in green, while 2,047 stocks were in red. Stock Market Today: Indian Market Opens Flat, All Adani Shares Trade in Green. The market remained in turmoil due to heavy selling by Foreign Institutional Investors, the rising US bond yields and ongoing co ...Read More >
Mumbai: Indian stock markets on Wednesday opened near the flatline on a cautious note, tracking the subdued sentiment in Asian markets. At the opening of the trade, Nifty at National Stock Exchange (NSE) started at 24,204.80, up 10.30 points and Sensex at 80,121.03, up by about 122 points. In the opening trade, the stocks of Coal India, Adani Enterprises, Mahindra and Mahindra, Adani Ports, and Kotak Banks were the top gainers. On the other hand, IndusInd Bank, Cipla, Tata Consumer Products, Bharti Airtel, and UltraTech Cement were the major losers on the NSE. Among the sectoral indices, Aut ...Read More >