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: Foreign Secretary Vikram Misri represented India on Thursday at a UK-hosted summit of nearly 30 nations that focused on ensuring safe shipping through the Strait of Hormuz amid Iran's partial blockade of the strategic waterway, which has severely disrupted global oil and gas supplies. Misri, joining the deliberations through virtual mode, articulated New Delhi's stance on the safety of international shipping lanes in the region. "As far as India is concerned, you very well know that we stand for free and open commercial shipping, and for maritime security in keeping with international law," External Affairs Ministry spokesperson Randhir Jaiswal said at his weekly media briefing. "We continue to call for ensuring safe and free navigation through the Strait of Hormuz as a matter of priority," he said. Global oil and gas prices have surged after Iran virtually blocked the Strait of Hormuz, a narrow shipping lane between the Persian Gulf and the Gulf of Oman, that handles roughly 20 per cent of global oil and LNG (Liquefied Natural Gas). West Asia has been a major source of India's energy procurement. Jaiswal said the UK invited several countries, including India, for talks on the Strait of Hormuz, and Misri attended it.
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 >
Kolkata (West Bengal) [India], June 27 (ANI): A female student was allegedly gang-raped inside a law college in Kolkata's Kasba on Wednesday evening. The police have arrested all three accused within 24 hours. The three accused, named as Monojit Mishra (31), Zaib Ahmed (19), and Pramit Mukhopadhyay (20), were former students or staff members of the same law college. Also Read | Student Gang-Raped at South Kolkata Law College: Police Arrest 3 Youths for Sexually Assaulting Young Woman Inside Law College. According to the police, the accused named in the FIR will be produced before the A.C.J. ...Read More >
Dantewada (Chhattisgarh) [India] July 15 (ANI): The tribal-dominated Dantewada district is all set to make its footprint visible in the high-octane sport of Thai Kick Boxing, as young athletes here have clinched medals in international as well as national events. With the support of the Chhattisgarh Government, the youth of Dantewada are sharpening their skills and preparing for Thai Kick Boxing events to be held in the country and overseas. As Dantewada moves on the path to becoming a hub for producing Thai Kick Boxers, the district is also ready to shed its infamous identity that emerged du ...Read More >
Noting that the evolution of Quad has been a "notable development," External Affairs Minister S. Jaishankar has said the Indo-Pacific is experiencing "significant changes" including new convergences and partnerships. "In an era of collaborative endeavours, the Indo-Pacific will require practical solutions, nimble diplomacy, greater adjustment and more open conversations. The G7 can be one such partner," Mr. Jaishankar said as he attended the G7 FMM Outreach Session with Indo-Pacific partners in the Italian city of Fiuggi on Tuesday. G7 ministers throw support behind Israel-Hezbollah ceasefir ...Read More >
NEW DELHI: Trade talks between India and the US appear to be back on track, as President Donald Trump hinted that a "very big" agreement with India will be forthcoming soon. In a presser at the White House, Trump said, "Everybody wants to make a deal and have a part of it. Remember a few months ago, the press was saying, 'You really have anybody of any interest? Well, we just signed with China yesterday. We are having some great deals. We have one coming up, maybe with India. Very big one. Where we're going to open up India, in the China deal, we are starting to open up China.""We're not going ...Read More >
New Delhi, June 27 (SocialNews.XYZ) Prime Minister Narendra Modi will undertake a five-nation visit starting July 2, visiting Ghana, Trinidad and Tobago, Argentina, Brazil, and Namibia, the Ministry of External Affairs (MEA) announced on Friday. In the first leg of his visit, PM Modi will visit Ghana (July 2-3) which will be Prime Minister's first ever bilateral visit to Ghana. This Prime Ministerial visit from India to Ghana is taking place after three decades. During the visit, Prime Minister will hold talks with the President of Ghana to review the strong bilateral partnership and discuss ...Read More >
New Delhi: India on Thursday played down the threat of the US imposing sanctions on countries buying Russian oil, saying it is confident of meeting its needs from alternative sources. Oil Minister Hardeep Singh Puri said the world's third largest oil importer should be able to deal with any problems with Russian imports by seeking supplies from other countries. India imports more than 85 per cent of its requirement of crude oil, which is turned into fuels like petrol and diesel in refineries. Traditionally, the Middle East was the main source, but Russia has been the mainstay supplier for nea ...Read More >
The event has brought together energy ministers from various states, top government officials, and industry leaders from the oil and gas sectorSource : pexel Minister of Petroleum and Natural Gas, Hardeep Singh Puri, on Thursday said that he expects the new round of hydrocarbon exploration being launched in India to strike several big Guyana-sized oilfields, particularly in the Andaman Sea. We will drill and explore for more hydrocarbons in an area of more than 2,00,000 sq km under OALP (Open A ...Read More >
MUMBAI: The Indian equity indices opened lower on Friday as heavyweights like Axis Bank and Bharti Airtel were among the top losers in the BSE benchmark. At 9.25 am, Sensex was down 171 points or 0.21 per cent at 82, 087 and Nifty was down 35 points or 0.14 per cent at 25, 075. In the Sensex pack, M&M, Tata Steel, Power Grid, L&T, UltraTech Cement, Infosys, Tata Motors, BEL, NTPC, TCS, Trent and Maruti Suzuki were top gainers. Axis Bank, Bharti Airtel, Kotak Mahindra Bank, Tech Mahindra , HDFC Bank, Eternal (Zomato), HUL, Sun Pharma, Bajaj Finance, ICICI Bank, Titan and Bajaj Finserv ...Read More >
PM Modi said that in six states in eastern India, gas pipelines are being laid. ShowQuick Read Summary is AI-generated, newsroom-reviewed * Prime Minister Modi launched development projects worth Rs 5,400 crore in West Bengal * Laid foundation for BPCL's Rs 1,950-crore City Gas Distribution project in Bankura and Purulia * Dedicated Rs 1,190-crore Durgapur-Kolkata natural gas pipeline under Pradhan Mantri Urja Ganga Did our AI summary help? Let us know. Durgapur: Prime Minister Narendra ...Read More >
New Delhi [India], July 8 (ANI): Union Minister Hardeep Puri on Tuesday highlighted Central Government's series of sweeping policy reforms under the leadership of Prime Minister Narendra Modi to accelerate oil & gas exploration. These reforms, aimed at promoting exploration & production in the field of oil and gas. The government believes that these changes to increase the ease of doing business for our exploration and production (E&P) operators are being made after stakeholder consultation at every level.The minister, noted via a social media post on X that the recent amendments to the Oilfi ...Read More >
New Delhi, Jul 15 (PTI) Two people died and four others were injured after a fire broke out at a house in east Delhi's Old Govindpura area on Tuesday evening, an official said. Police have identified the deceased as Tanveer (28) and Nusrat. A call was received at Jagatpuri police station at 8.46 pm regarding a fire incident at Band Gali, Old Govindpura, Deputy Commissioner of Police (Shahdara) Prashant Gautam said. When a police team reached the spot, it found that 10 people were trapped inside a residential building that caught fire, the DCP said. With the help of police personnel and fir ...Read More >
New Delhi, Jul 17 (PTI) India on Thursday played down the threat of the US imposing sanctions on countries buying Russian oil, saying it is confident of meeting its needs from alternative sources. Oil Minister Hardeep Singh Puri said the world's third largest oil importer should be able to deal with any problems with Russian imports by seeking supplies from other countries. India imports more than 85 per cent of its requirement of crude oil, which is turned into fuels like petrol and diesel in refineries. Traditionally, the Middle East was the main source, but Russia has been the mainstay s ...Read More >
New Delhi: MEA spokesperson Randhir Jaiswal confirmed that "friendly countries" are interceding on India's behalf to ensure Kerala nurse Nimisha Priya can be released. Priya who has been accused of killing Yemeni national Talal Abdo Mehdi in 2017 was arrested in 2020 and sentenced in 2023. Her death sentence which was set for July 16 has now been postponed. Stating that the government of India had been offering all possible assistance in the case Jaiswal said: "We have provided legal assistance and also appointed a lawyer to assist the family. We have also arranged for regular consular visits ...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 >
Ahmedabad, June 27: Union Home Minister Amit Shah began his Gujarat visit on a spiritual note early Friday morning by participating in the Mangala Aarti at the historic Shri Jagannathji Temple in Jamalpur, Ahmedabad. The visit coincides with the auspicious occasion of the annual Shri Jagannath Rath Yatra, a major religious event that draws thousands of devotees every year. Arriving at the temple at 3:15 a.m., HM Shah joined in the sacred rituals and offered prayers to Mahaprabhu Jagannath. Sharing his experience on social media platform X, he posted, "On the sacred occasion of Rath Yatra, par ...Read More >
New Delhi [India], June 28 (ANI): India has rejected 'supplemental award' by the 'illegal Court of Arbitration' concerning the Kishenganga and Ratle hydroelectric projects in Jammu and Kashmir, saying 'this latest charade at Pakistan's behest' is yet another desperate attempt' by Islamabad to escape accountability for its role as the global epicentre of terrorism. 'The illegal Court of Arbitration, purportedly constituted under the Indus Waters Treaty 1960, albeit in brazen violation of it, has issued what it characterizes as a 'supplemental award' on its competence concerning the Kishenganga ...Read More >
New Delhi: With just 48 hours left for 90-day pause on US reciprocal tariffs to end, the much-anticipated bilateral trade agreement (BTA) between India and the US has reached a critical stage. According to two officials in the Indian commerce ministry and one in Washington, the agreement is unlikely to be finalized without direct political intervention to resolve some of the remaining sticky issues. "It's down to the wire. Unless there's political direction, the deal may not go through in time," said the first of the two Indian representatives cited above. "If all goes well, the deal will b ...Read More >
NEW DELHI: India can arrange alternative supplies if Russian oil exports are sanctioned, petroleum minister Hardeep Singh Puri said on Thursday in what is seen as the first official reaction to the US and EU threat of secondary sanctions for buying those barrels."India has diversified the sources (of oil). I am not worried at all. If something happens, we will deal with it. There is sufficient supply available," Puri said at an industry event.Separately, the foreign ministry said govt's overriding priority was to secure the energy needs of its people, while also cautioning against any double s ...Read More >
NEW DELHI: India on Thursday dismissed Nato chief Mark Rutte's threat of "100 per cent secondary sanctions" on countries trading with Russia, particularly in gas and oil, and warned the West against adopting any "double standards." Reacting to Mr Rutte's comments, foreign ministry spokesperson Randhir Jaiswal said securing the country's energy needs remains an overriding priority, guided by what is available in the markets and the prevailing global circumstances. "We have seen reports on the subject and are closely following the developments. Let me reiterate that securing the energy needs o ...Read More >
New Delhi: India on Friday "categorically rejected" a "supplemental award" issued by the World Bank-appointed Court of Arbitration regarding its competence to hear disputes related to the Kishenganga and Ratle hydropower projects in Jammu and Kashmir. These projects are at the center of a long-standing disagreement between India and Pakistan under the Indus Waters Treaty (IWT) of 1960, which India placed in abeyance two months ago following the Pahalgam terror attack. In a strongly worded statement, the Ministry of External Affairs (MEA) said: "Today, the illegal Court of Arbitration, purport ...Read More >
New Delhi [India], June 29 (ANI): The world paused on June 13 when Israel targeted major military and nuclear facilities, and crucial personalities in Iran as it launched a series of attacks to disempower the West Asian country. Also Read | Hakham Muhammad Issa Al-Issa Dead: IDF Eliminates Hamas Mastermind Behind October 2023 Attack in Israel. The involvement of the Houthis of Yemen and the US in this high-tension conflict stopped short of a nuclear apocalypse--but this was not entirely unexpected. Some saw this coming. Supporting Israel, the US went ahead and struck three key nuclear sites ...Read More >
Mumbai, Jul 1 (PTI) Equity benchmark indices Sensex and Nifty rebounded in early trade on Tuesday after falling in the previous trading session, amid a rally in global markets. Moreover, buying in blue-chip stocks -- Reliance Industries and HDFC Bank -- also added to the markets optimism during the initial trade. The 30-share BSE Sensex climbed 177.79 points to 83,784.25 in early trade. The 50-share NSE Nifty went up by 51.2 points to 25,568.25. From the Sensex firms, Asian Paints, Bharat Electronics, UltraTech Cement, Reliance Industries, HDFC Bank and HCL Tech were among the gainers. How ...Read More >
Washington/New Delhi, July 2 (UNI) The Quad nations, comprising India, US, Japan and Australia, condemned in the strongest terms the April 22 Pahalgam terrorist attack and called for the perpetrators, organisers, and financiers of this reprehensible act to be brought to justice without any delay and urged all UN Member States to cooperate actively in this regard. A joint statement issued at the end of the meeting of the Quad Foreign Ministers in Washington, the Foreign Ministers, including External Affairs Minister S Jaishankar, US Secretary of State Marco Rubio, Australian FM Penny Wong and ...Read More >
1. India: New strategy on FX volatility The Indian Respondents' Bank (RBI) is allowing more volatility on the USD/INR exchange rate, prompting many companies to hedge with forward contracts. This is the highest level of coverage since 2020. We thank in advance our Official Broker Partner PEPPERSTONE who supported us in writing this article. FX Impact: Potential weakening of the rupee in the short term, but increased stability in the medium-long term. Volatility on USD/INR, EUR/INR, JPY/INR ? opportunities for carry trades and short-term shorts if the dollar strengthens. 2. Australia hit ...Read More >
Mumbai, June 8 (SocialNews.XYZ) Chief Minister Devendra Fadnavis on Sunday debunked all allegations made by Congress leader Rahul Gandhi about rigging and match-fixing in the 2024 Maharashtra Assembly elections. In his articles titled 'Those Rejected by the People Deny the Mandate', published in the same three newspapers where Gandhi's write-ups appeared, CM Fadnavis advised the Congress MP to "accept defeat, introspect on where you went wrong, why your connect with the people is lacking, and what needs to be done." He taunted Gandhi, saying that the latter was preparing excuses for "defeats ...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 >
New Delhi, Jun 27 (PTI) Gold prices plunged Rs 930 to Rs 97,670 per 10 grams in the national capital on Friday as traders rushed to selling amid easing off Middle East tensions and favourable reports about a trade deal between the US and China. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs 98,600 per 10 grams on Thursday. On Friday, gold of 99.5 per cent purity declined by Rs 850 to Rs 97,200 per 10 grams (inclusive of all taxes). It had settled at Rs 98,050 per 10 grams in the previous market session. "Gold prices continue to cor ...Read More >
New Delhi, Jun 27 (PTI) India has so far evacuated more than 4,400 Indian nationals from Iran and Israel in 19 special flights under Operation Sindhu launched on June 18 to bring home its citizens amid an ongoing conflict between the two countries, according to the Ministry of External Affairs (MEA). The evacuated Indian nationals included "more than 1,500 women and 500 children", the MEA said in a statement on Friday. Also Read | PM Narendra Modi To Begin 5-Nation Tour on July 2 To Strengthen Global Partnerships. "The government of India is deeply committed to the safety and well-being of ...Read More >
Srinagar- Rejecting the ruling by a Court of Arbitration that issued a "supplemental award" regarding the Kishenganga and Ratle hydroelectric projects in Jammu and Kashmir, India on Friday said that the tribunal has no legal authority to intervene. Both the hydel projects are situated on tributaries of the Indus river system and have been a longstanding point of contention between India and Pakistan. The Ministry of External Affairs (MEA) stated that the tribunal has no legal authority and that its establishment was inconsistent with the provisions of the Indus Waters Treaty (IWT) signed in ...Read More >