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 [India], April 2 (ANI): Crude oil prices could rise to USD 150 per barrel in an extreme scenario if the ongoing geopolitical tensions persist, potentially prompting global intervention, according to Vandana Bharti, Research Head - Commodity, SMC Global Securities. "After USD 130, USD 150, I think many political alliance, they will come forward and they will stop it... USD 150 is itself a very alarming situation and many things are happening... otherwise, it will be a mayhem," Bharti told ANI on Thursday. Also Read | Bengaluru Horror: Man Steps on Wife's Neck To Kill Her, Arrested. Currently, global oil markets face supply disruptions of around 10 million barrels per day, with shipments through the Strait of Hormuz under strain. Asia, which accounts for 58.8 per cent of the global population, is among the worst-affected regions due to its heavy reliance on imported crude, she added. Benchmark prices are already elevated, with WTI crude at USD 107-108 per barrel, Brent around USD 106, and Murban crude is above USD 113. Also Read | Khesari Lal Yadav Show in Bihar's Muzaffarpur Disrupted by Chaos, Police Lathi-Charge Crowd (Watch Video). Bharti noted that India's crude basket is "already near USD 150", compared with USD 70-75 at the start of the year, reflecting higher freight, insurance and supply costs. She said market positioning based on New York Mercantile Exchange (NYMEX) option data shows a significant build-up near the USD 120-150 levels, with some participants discussing the possibility of prices rising further if the conflict persists. "Market is talking about USD 150... but USD 150 is something like extreme volatile situation would be there," she said. When asked about the possibility of crude oil touching USD 200 per barrel because of the war in the Gulf countries, Bharti said she did not endorse that view as a base case and instead pointed to likely intervention before such levels are reached. Bharti said rising crude prices would begin to trigger policy responses even before extreme levels are reached. "USD 120, USD 130 will give pressure to Trump to go for a ceasefire," she said, adding that higher prices would intensify economic stress globally. She also pointed to domestic political pressure in the United States, noting that a prolonged price surge could force action ahead of mid-term elections. "He needs to go for a ceasefire before the mid-term election because it will hit the result," she said. At higher levels, coordinated global intervention is likely, she added. "Many countries, they will intervene... they will pressurize US to call for a ceasefire and all," she said, referring to potential action if crude prices rise toward USD 150. The economic consequences of rising crude prices are already visible. Bharti said every USD 10 increase in oil prices could reduce GDP growth by 0.5 percentage points (50 basis points), while prices above USD 120 could trigger stagflation, with growth slowing to around 0.9-1 per cent amid rising inflation. The situation is further constrained by limited buffers. The United States has indicated availability of about 400 million barrels from its Strategic Petroleum Reserve, which Bharti said would cover only around 20 days of supply linked to Hormuz disruptions. In India, domestic crude prices have surged sharply. MCX crude has risen from about Rs 6,000 before the conflict to above Rs 10,000, after touching a high of Rs 10,500, and could climb further to Rs 11,000-12,000, she said. The rupee, currently at around 93.11 per dollar, could weaken to 97-98 if global crude prices rise to the USD 120-130 range, increasing the current account deficit and imported inflation. Bharti also highlighted broader supply disruptions, noting that longer shipping routes via Africa have raised freight and insurance costs, while shortages are affecting multiple sectors, including helium supplies impacting MRI services. While alternatives such as renewable energy and coal gasification are being explored, she said they are not immediate solutions. "Renewable, it will take time... it will take decades," she said, adding that coal has often acted as a "saviour" during energy crises. Bharti said that although some countries, including India, continue to receive shipments, delays and payment challenges persist. She warned that if the crisis extends beyond April or May, the economic impact could intensify significantly, particularly with rising summer energy demand. "If it prolongs... then it will create a real havoc for Indian economy as well," she said. (ANI)
New Delhi [India], December 2: The IVCA GreenReturns Summit 2024 commenced today in New Delhi, convening over 400 visionaries, investors, policymakers, and entrepreneurs to chart a transformative path for India's green economy. The Summit is dedicated to aligning India's climate goals with its trillion-dollar economic aspirations for a 'Viksit Bharat,' spotlighting high-impact investment opportunities, addressing funding gaps, and driving actionable solutions for net-zero and climate adaptation. Also Read | Mamata Banerjee Says West Bengal Yet To Get INR 14,000 Crore From Centre for Supply of ...Read More >
Mumbai Indians (MI) made strategic moves in the IPL 2025 mega-auction, securing New Zealand pacer Trent Boult for ₹12.50 crore. MI owner Akash Ambani praised Boult’s invaluable skill in swinging the new ball, acknowledging the team’s struggles when he wasn’t playing for them in recent years. The franchise also acquired England’s Reece Topley for ₹75 lakh and New Zealand spinner Mitchell Santner for ₹2 crore. MI further strengthened their spin department by signing young Afghan talent Allah Ghazanfar for ₹4.80 crore, who has impressed with his performances in international cricket. ...Read More >
In this edition of Frontline Conversations, former Maharashtra Women and Child Development Minister Aditi Tatkare discusses how the Ladki Bahin scheme, which provided direct cash transfers to 2.35 crore women, transformed both the economic landscape and political dynamics of the State. The programme, which distributed Rs.7,500 across five instalments to women earning less than Rs. 2.5 lakh annually, not only empowered women with financial independence but also proved to be a decisive factor in Mahayuti's electoral victory, marking a shift in Maharashtra's traditionally male-dominated political ...Read More >
The chip makers around the world felt the relief of a rumor suggesting that the sales curb to China could be less severe than previously expected. But the news didn't necessarily translate in a strong rally. ASML (NASDAQ:ASML) - Europe's biggest chip equipment maker that predicted a 30% fall to its Chinese revenue next year - closed 0.22% lower yesterday, while Tokyo Electron - which was up by more than 6% yesterday - couldn't extend gains at today's session. With US markets paused for the Thanksgiving break, France was at the heart of the attention yesterday. The political drama, there, only ...Read More >
Hong Kong, December 3, (ANI): Mainland Chinese shoppers are once again flocking to stores in Hong Kong, but this time, their focus is on purchasing sanitary towels and other feminine care products, rather than infant formula, cooking oil, or Yakult drinks. This shift in shopping habits is driven by concerns over reports of contaminated and discoloured cotton fillings in similar products sold in mainland China. These safety issues have led many consumers to seek alternatives in Hong Kong, where the quality is perceived to be more reliable, Radio Free Asia reported. A shopper from Guangzhou, i ...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 >
Mumbai, November 26: The final allotment for the NTPC Green Energy IPO has been confirmed, and investors can now check their status through bank debit messages or online platforms such as the BSE, NSE, and Kfin Technologies. The shares of NTPC Green Energy, which opened for subscription on November 19 and closed on November 22, are set to be listed on the stock exchanges on Wednesday, November 27, 2024. The public offering received strong investor interest, with the issue oversubscribed by 2.42 times, according to the National Stock Exchange (NSE). Analysts maintain a positive long-term outlo ...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 >
Bigg Boss 18: Shilpa Shirodkar is termed 'biggest backstabber' after Vivian Dsena... Deepak Kalal fights with passenger in flight? Know the truth behind viral video Delhi court fixes Nov 28 for hearing former CM Arvind Kejriwal's plea over sanction copy in... Where will the Champions Trophy 2025 be played? ICC to take final call on THIS date Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan recalls telling Amitabh Bachchan he made 'big mistake' by... Deepinder Goyal's Zomato opens Rs 8500 crore QIP share sale, sets floor price at Rs... Delhi Capitals co-owner pens emotional fare ...Read More >
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 >
The incoming US president has vowed to press for a quick deal to end Russia's war - leaving Kyiv scrambling to position itself ahead of his January inauguration Nato foreign ministers looked set to rebuff Tuesday a push from Ukraine for progress on joining their alliance ahead of Donald Trump taking power in the United States. The incoming US president has vowed to press for a quick deal to end Russia's war - leaving Kyiv scrambling to position itself ahead of his January inauguration. Ukraine's President Volodymyr Zelenskyy has said getting security guarantees from the Western alliance and ...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 >
Hackout at ZLB23 November 29, 8 pm onwards ZLB23, A Kyoto Speakeasy at The Leela Palace, Old Airport Road Entry: Reservations via +91 9632060433 HackOut! is an Italian experimental jazz trio, who are "bass-less" in that they experiment without that low-end. Established in 2019 at the F Venezze Conservatory of Rovigo, HackOut! comprises Manuel Caliumi on alto sax, Luca Zennaro on guitar and Riccardo Cocetti on drums. Hackout | Photo Credit: Special Arrangement On the back of releasing their new album Cortado, the band are touring India for the first time, with a stop in Bengaluru at ZLB23 ...Read More >
The global smoke grenade market is expected to grow from $297.24 million in 2023 to $456.46 million by 2031, driven by a 5.5% CAGR. Military, law enforcement, and emergency services are the primary sectors fueling demand, especially for tactical operations, training, and crowd control. Advances in technology have led to safer, more effective smoke grenades, while commercial uses in activities like paintball and film production are rising. Environmental concerns are promoting the development of eco-friendly products. North America leads the market, with rising military expenditures further boos ...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 >
The U.S. dollar continued its strong run on Monday, bolstered by soaring Treasury yields and expectations of limited Federal Reserve rate cuts. Meanwhile, the yen steadied ahead of a key speech by Bank of Japan Governor Kazuo Ueda, where he may hint at a possible rate hike in December, with markets pricing a 55% chance of such a move. Japanese Finance Minister Katsunobu Kato's warning on yen intervention caused a temporary pullback, while the dollar index touched a one-year high of 107.07. Analysts forecast further dollar gains as U.S. economic policies and performance outshine global peers. K ...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 >
In a miraculous turn of events, a seven-year-old boy who was kidnapped from Uttar Pradesh's Ghaziabad district more than 30 years ago has reunited with his family. IMAGE: Raju was kidnapped when he was seven-year-old from Uttar Pradesh's Ghaziabad district. Photograph: ANI Now 38, Raju shared his ordeal and said that after being abducted in September 1993, he was handed over to a truck driver who took him to Jaisalmer in Rajasthan. "The kidnappers kept me in a room located in the middle of a barren area, where I was forced to take care of sheep and goats. Each night, I was chained and locke ...Read More >
NEW DELHI: Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to ...Read More >
Anuj Kumar, Director & CEO of CAMS, highlights that despite recent market corrections, the company expects FY25 to be one of its strongest years. CAMS continues to dominate by winning 70-80% of new bids, focusing on execution and margin expansion, and anticipates significant revenue and profit growth driven by mutual funds and associated business lines.Anuj Kumar, Director & CEO, CAMS, says there has been some market correction and some flattening of the mood in the last two months. But as things come back, we should be holding our projections and FY25 should be one of the strongest years in t ...Read More >
Uber has launched India's first Shikara ride on Srinagar's Dal Lake, offering a unique and scenic experience. This new service allows passengers to enjoy the tranquil beauty of the lake while riding in a traditional Shikara boat. Booking is easy through the Uber app, with rides available daily from 10 AM to 6 PM. This initiative aims to boost tourism in the region while providing locals with a new way to experience the lake. With Uber's entry into the Shikara market, visitors can now enjoy a blend of modern convenience and traditional charm on Dal Lake. ...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 >
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 >
Beijing: China has expressed its willingness to engage in dialogue with the United States following recent threats by former President Donald Trump to impose new tariffs on Chinese goods. The statement comes amid growing tensions between the two economic giants over trade practices, technology policies, and geopolitical issues. Chinese Foreign Ministry spokesperson, Wang Wenbin, said that China was open to "constructive dialogue" with the U.S., emphasizing the importance of cooperation to ensure global economic stability. "China believes that both countries should seek common ground and manag ...Read More >
Despite its vast potential, the full capabilities of GST data remain largely unrealised. While aggregate data provides a broad overview of tax performance and health of the Indian economy, disaggregated sector-wise information is crucial for evidence-based policymaking. A closer look at the performance of GST revenue collection raises several questions. First, though the growth of GST revenue collection improved in the last seven years (13 per cent) compared to the pre-GST period 2012-17 (11.8 per cent), there has been hardly an increase in the tax base of GST in the last seven years compared ...Read More >
New Delhi, Nov 28 (PTI) Coworking firm Incuspaze, which provides managed flexible office spaces to corporates, is looking to raise USD 25 million (over ₹210 crore) to expand its business across major cities before planning to launch its Initial Public Offer (IPO). Established in 2016, Incuspaze has a presence in 44 locations across 18 cities with a total portfolio of 40 lakh square feet. "We plan to add another 2 million (20 lakh) square feet in our portfolio by the end of December 2025," Incuspaze founder and CEO Sanjay Choudhary told PTI. In view of the growing demand for flexible workspa ...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 >
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 >
India is set to host the inaugural Kho Kho World Cup at New Delhi’s IGI Stadium from January 13-19, 2025, marking a historic milestone for the indigenous sport. Organized by the Kho Kho Federation of India (KKFI) in collaboration with the Indian Olympic Association (IOA), the tournament has garnered strong backing from IOA President PT Usha, who pledged comprehensive support to enhance its global appeal. Featuring 24 teams from six continents, including powerhouses like India, England, Brazil, and Australia, the event celebrates Kho Kho’s rich cultural heritage. This groundbreaking tournament ...Read More >