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 Ministry of Civil Aviation (MoCA) suspended its recent directive that required domestic airlines to offer at least 60% of their aircraft seats without additional selection fees. The decision, issued on Thursday, puts the mandate in abeyance just 16 days after its initial announcement. The Indian Association of Tour Operators (IATO) welcomed the policy reversal and urged the government to offer seasonal subsidy foor passenger convenience. On Thursday, the ministry wrote to the Director General of Civil Aviation (DGCA), declaring that the provision to offer at least 60% of seats free of charge will be kept in abeyance until a comprehensive examination of the issue is conducted. The rollback follows intense lobbying and formal objections from the Indian airlines. The letter cited representations from the Federation of Indian Airlines (FIA), which represents major carriers like IndiGo, Air India, and SpiceJet, and Akasa Air, highlighting potential impact on fare structures and consistency with the prevailing deregulated tariff regime. The rule was introduced on March 17 as a passenger-centric measure with the goal to curb the growing practice of unbundling, where airlines charge extra for nearly all seats during web check-in, often leaving only 5% to 15% of the cabin available for free. However, the aviation industry argued the mandate was an overreach into a deregulated tariff environment. According to sources, the airlines raised concerns about loss of revenue, citing that carriers rely heavily on such ancillary revenues to maintain low base fares. Industry experts suspected that the airlines would raise ticket fares for all the passengers, including those who do not wish to select their own seats, to recover the lost revenue from seat fees. While the free-seat quota is on hold pending a comprehensive examination, other parts of the March 17 circular remain in effect. The DGCA has been instructed to continue enforcing other passenger facilitation measures including transparency in seat allocation, co-seating of passengers on the same PNR, carriage of musical instruments, sports equipment and pets and clear disclosure of applicable charges. Also Watch: The Indian Association of Tour Operators welcomed the government's decision to roll back the mandate, calling it a balanced approach to cater to the customers' needs and the financial health of the aviation industry. It said that the move would have caused substantial disruption to airlines' revenue-generating activities and would have resulted in increased prices on remaining seats, reduced route offerings and less service quality. The association's president Ravi Gosain highlighted that the discounted fares might create a spike in short term travel but artificially generated demand can not sustain. He stated that price and operational stability results in long term planning for travel and consumer confidence as the entire tourism ecosystem relies on consistent levels of travel rather than sporadic peaks and valleys. "Rather than using large sweeping actions, actions such as seasonal subsidies, incentives for regional connectivity or assistance for underserved routes can create an increase in travellers while ensuring the on-going viability of airlines. The government's recent decision indicates an increasing trend toward the creation of rationally based policies that will benefit all stakeholders in the long-term," he added.
Pune Airport is set to boost international travel with new daily flights to Dubai and bi-weekly flights to Bangkok, starting October 27. Pune is gearing up to enhance its international flight connectivity with the launch of new routes beginning October 27.The city will soon have a daily flight to Dubai and a bi-weekly service to Bangkok. This announcement was made on Thursday by Murlidhar Mohol, the Minister of State for Civil Aviation. Currently, Pune airport caters to two international destinations. A prominent route from Pune is the well-established Dubai flight, currently operated by Spi ...Read More >
Anantnag (Jammu and Kashmir) [India], June 8 (ANI): The Indian Army with support from an NGO, M3M Foundation, organised the Gujjar-Bakerwal Mela at Aishmuqam in South Kashmir's Anantnag district, aimed at supporting the nomadic community ahead of the annual Amarnath Yatra. Speaking to ANI, Dr Aishwarya Mahajan, Managing Trustee of M3M Foundation, said, "Discussions with the Indian Army were going on from a long time, on furthering their community initiatives in the valley. One of them was, that as soon as the Amarnath Yatra begins, facilities are needed here for the Gujjar Bakarwals who accom ...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 >
Hit by economic slowdown and poor infrastructure, industrialists from Jharkhand's key industrial districts -- East Singhbhum, West Singhbhum, and Seraikela-Kharsawan -- are looking to the newly formed state government for revival and support. The industrial zones of Adityapur, Gamharia, Kandra, and Chandil have been grappling with inadequate infrastructure, including poorly maintained roads, lack of bridges, erratic water supply, and unreliable power. Entrepreneurs in these regions hope the new administration will address these issues and work toward improving the state's industrial ecosystem ...Read More >
New Delhi, May 22 (SocialNews.XYZ) The pilots of the IndiGo plane, which was damaged in rough weather en route to Srinagar, were denied permission by the Lahore ATC to venture briefly into Pakistan airspace to escape the hailstorm, in complete violation of humanitarian norms. India's civil aviation regulator, the DGCA, said the aircraft was cruising at an altitude of approximately 36,000 feet near Punjab's Pathankot when it ran into a thunderstorm and hailstorm. Experiencing severe turbulence, the crew first requested the Northern ATC of the Indian Air Force to allow the flight to deviate to ...Read More >
New Delhi [India], May 28 (ANI): The Union Cabinet on Wednesday approved the continuation of the interest subvention component under the Modified Interest Subvention Scheme (MISS) for farmers for the financial year 2025-26, and approved required fund arrangements. It is a Central Sector Scheme aimed at ensuring the availability of short-term credit to farmers at an affordable interest rate through Kisan Credit card (KCC). Also Read | Parcel Bomb Case: Odisha Court Convicts Accused Punjilal Meher, Sentences Him to Life Imprisonment. Under the Scheme: Farmers received short-term loans of up t ...Read More >
NEW DELHI, June 3 (Reuters) - Prime Minister Narendra Modi's high-profile attendance at a global airlines conference this week underscores how much India is banking on a boom in aviation to support wider development goals, but headwinds to its ambitions are gathering force. Undeterred by the uncertainty gripping the aviation sector globally due to trade tensions and shaky consumer confidence, India's biggest airlines are ploughing ahead with orders for new planes, following record deals two year ...Read More >
Investing.com -- India has declined an offer from the United Nations aviation agency to include one of its investigators in the probe of the Air India Boeing (NYSE:BA) 787-8 Dreamliner crash that killed 260 people in Ahmedabad on June 12, according to a Reuters report on Thursday. The International Civil Aviation Organization (ICAO) made the unusual move earlier this week by offering to provide investigative assistance without being asked. The ICAO requested that their investigator, who was already in India, be granted observer status in the investigation, but Indian authorities rejected this ...Read More >
Mhow, Jun 7 (PTI) In a disturbing incident, a stray dog was seen clutching a dead newborn in its jaws near the toilet of a government hospital in Madhya Pradesh's Indore district on Saturday before a security guard managed to retrieve the body after shooing away the animal. Authorities at the civil hospital in Mhow, some 25 kilometres from the district headquarters, and police have begun a probe into the antecedents of the newborn and the chain of events that followed. ...Read More >
Bhubaneswar: The Odisha Cabinet on Friday decided to implement two new schemes for the development of biotechnology and to enhance urban infrastructure. The Cabinet also gave its nod to a proposal to float a tender for Chheligada multipurpose medium irrigation project in Gajapati district. These proposals were approved at the Cabinet meeting chaired by Chief Minister Mohan Charan Majhi. "The two new schemes, named 'Development of Biotechnology' and 'Mukhya Mantri Sahari Bikash Yojana (MSBY)', aimed at creating employment and strengthening the State's economy," Chief Secretary Manoj Ahuja told ...Read More >
New Delhi, Jan 27 (UNI) Aam Aadmi Party (AAP) has released its manifesto for the next month Assembly election with 15 guarantees, including employment and the women's dignity scheme. While releasing the manifesto on Monday, AAP's national convener and former Chief Minister Arvind Kejriwal said, "Kejriwal's guarantees are solid," emphasising that free electricity for 24 hours, free water, free education, free pilgrimage for senior citizens, free bus travel for women, and free medical treatment in hospitals and Mohalla Clinics will continue in Delhi. He alleged, "BJP leaders and spokespersons ...Read More >
NEW DELHI: In a significant step toward digital transformation, the Election Commission of India (ECI) has revamped its post-election data reporting process by introducing a streamlined, technology-driven system for generating Index Cards and Statistical Reports. The initiative, aimed at enhancing data accessibility and timeliness, replaces the earlier manual process that often delayed dissemination. Under the leadership of Chief Election Commissioner Gyanesh Kumar and Election Commissioners Sukhbir Singh Sandhu and Vivek Joshi, the new system leverages automation and data integration to enab ...Read More >
Berhampur/Bhubaneswar: A state-of-the-art medical college and hospital was inaugurated by chief minister Mohan Charan Majhi in Kandhamal district on Saturday, fulfilling a long-standing demand of locals. The 100-seat medical college and 650-bed hospital, built at a cost of over Rs 600 crore, is located at Tilakpada near Phulbani.Speaking at the inauguration ceremony, CM Majhi emphasised that the facility would provide quality healthcare services to residents of Kandhamal and neighbouring districts like Boudh, Nayagarh and Kalahandi.A govt officer said the medical college hopes to start admissi ...Read More >
New Delhi, Jun 26: India's Aircraft Accident Investigation Bureau (AAIB) has begun the critical analysis of the black boxes recovered from the wreckage of Air India Flight AI-171, which crashed earlier this month. The Civil Aviation Ministry confirmed that all investigation steps are being carried out as per international norms laid down by the International Civil Aviation Organization (ICAO). As a signatory to the ICAO's 1944 Chicago Convention, India investigates aircraft accidents in line with ICAO's Annex 13 and under the Aircraft (Investigation of Accidents and Incidents) Rules, 2017. Th ...Read More >
NEW DELHI, June 26 (Xinhua) -- The Indian government said on Thursday that the black box data of crashed Air India Flight AI-171 has been downloaded to reconstruct the sequence of events leading to its crash recently in the western Indian state of Gujarat. According to India's federal civil aviation ministry, the analysis of Cockpit Voice Recorders (CVR) and Flight Data Recorders (FDR) data was underway. The ministry said the Aircraft Accident Investigation Bureau promptly initiated an investigation and constituted a multidisciplinary team on June 13 in accordance with international norms an ...Read More >
Mumbai: Recurring aircraft defects, unserviceable ground handling gear, and faded runway markings are among a range of safety lapses discovered by the civil aviation regulator after an intensive survey of key airports including Delhi and Mumbai. The Directorate General of Civil Aviation (DGCA) has ordered airport operators and airlines to address these safety concerns within a week. The inspections come on the heels of the June 12 crash of an Air India plane in Ahmedabad, killing 241 people on ...Read More >
New Delhi: Aviation watchdog DGCA will soon come out with streamlined regulations for wet-leasing of planes by Indian airlines that will also entail enhanced oversight of the aircraft, amid airlines looking to operate more planes to meet rising travel demand. With persisting supply chain woes, there is a delay in aircraft deliveries and to meet the near-term needs, carriers are opting for planes on dry and wet leases. A senior official in the know told PTI that the efforts are on to streamline the regulations for wet-leasing of planes to assist in the growth of the aviation. "Realities of the ...Read More >
Silchar: Assam chief minister Himanta Biswa Sarma on Friday visited the flood-ravaged districts of Hailakandi and Sribhumi in the Barak Valley. He assured affected residents of providing timely disbursement of rehabilitation grants and swift repair of damaged infrastructure.This marks Sarma's second visit to the flood-hit region within four days, underscoring the gravity of the situation. Speaking to the media in Sribhumi after inspecting multiple relief camps, the CM said, "Flood-related problems may persist till July. I will return before Durga Puja to ensure that roads and infrastructure ar ...Read More >
Gurgaon: Two days after a law student died and his friend suffered critical injuries when a car knocked them down as they stood near railing on the service lane of Delhi-Jaipur highway in the early hours of Tuesday, a civil engineer was arrested on Thursday.Mohit (31), an employee of a private company in the city, told police that he got drowsy while driving. He is staying at a PG facility in Sector 14.The student who died, Harsh Singhal (25), was a resident of Om Nagar colony. His friend Abhishek Kumar (23), who is from Shanti Nagar in Sector 11, is undergoing treatment at a private hospital ...Read More >
June 25 (Rtrs) - India would not allow a UN investigator to join a probe of a crashed Air India jet that some safety experts had criticized for delays in analysis of crucial black box data, two senior sources familiar with the matter told Reuters. Earlier this week, the United Nations aviation agency took the unusual step of offering India one of its investigators to provide assistance following the Boeing (BA.N), opens new tab 787-8 Dreamliner crash killing 260 people in Ahmedabad on June 12. ...Read More >
HONG KONG SAR - Media OutReach Newswire - 2 December 2024 - Long recognised as a land of luxury, Hong Kong has levelled up its luxury hub appeal following the Leaders of Luxury Summit 2024. Organised by Robb Report Hong Kong, the summit brought together luxury industry titans to discuss pivotal topics that "Redefine Luxury Through a Global Lens" at Regent Hong Kong on November 26-28, 2024. According to the latest "2024 Billionaire Census" report from Altrata, the city is currently world's no. 2 with the highest number of billionaires. The city is expected to have 22.4% more ultra-high-net-wor ...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 >
MUMBAI: Warning that business as usual approach to policy reforms will push the economy which is already facing hiccups, to growth stagnation, the economic survey said by reducing the excessive regulatory burdens, governments can help businesses become more efficient, reduce costs, and unlock new growth opportunities. In short, the governments should help the industry rediscover their animal spirits. "Regulations increase the cost of all operational decisions of firms, the survey said outlining a three-step process for the states to systematically review their regulations for their cost-effec ...Read More >
New Delhi, Jun 5 (PTI) In a move to position India as the global epicentre of traditional medicine and wellness, the government of India has launched the Ayush Nivesh Saarthi portal. The portal was launched on May 29 during the Ayush Stakeholder/Industry Interaction meet held at Vanijya Bhawan here, an Ayush Ministry statement said. The portal was jointly unveiled by Union Minister of Commerce and Industry Piyush Goyal and Union Minister of State (Independent Charge) for Ayush Prataprao Jadhav. The event brought together senior government officials, industry leaders, and global stakeholders ...Read More >
Pune: Hospitals in Pune have started reporting an increase in dengue cases among children following recent heavy rainfall and intermittent showers. Conditions are now ripe for mosquito breeding, experts said, as they warned citizens to ensure there's no waterlogging or stagnant pools near homes and offices. "Dengue is typically seen first in children as they often play outside," said Dr Sagar Lad, a senior neonatologist and pediatric intensivist at Jehangir Hospital and Sahyadri Hospital, Shastrinagar. Dr Lad said he's seen at least three children admitted for dengue this week, with all of the ...Read More >
New Delhi [India], June 5 (ANI): Air India announced on Thursday that it has added more flights to Bangkok, Colombo, and Kathmandu to meet the growing passenger demand. Effective July 7, 2025, Air India will add a sixth daily flight between Delhi and Kathmandu, increasing frequency from 35x weekly to 42x weekly. Air India will add a second daily flight between Delhi and Colombo, doubling the route's frequency from 7x weekly to 14x weekly. The Tata Group airline will add a third daily flight between Mumbai and Bangkok, increasing frequency from 13x weekly to 18x weekly. Air India said in a ...Read More >
New Delhi [India], June 6 (ANI): External Affairs Minister S Jaishankar, chairing the 4th India-Central Asia Dialogue in Delhi on Thursday, reaffirmed India's commitment to deepening its strategic partnership with Central Asian nations, with a special focus on connectivity, security, and technological collaboration. The session brought together top diplomats from Kazakhstan, Turkmenistan, Kyrgyzstan, Tajikistan, and Uzbekistan, reflecting a growing determination to address shared regional challenges and opportunities. Also Read | Elon Musk Warns Trump's Aggressive New Trade Tariffs Could Tri ...Read More >
New Delhi, June 26: Union Minister of Ports, Shipping & Waterways Sarbananda Sonowal on Thursday inaugurated the Sagarmala Finance Corporation Limited (SMFCL), India's first Non-Banking Financial Company (NBFC) in the maritime sector. Formerly known as the Sagarmala Development Company Limited, the SMFCL is now positioned to play a transformative role in India's maritime infrastructure development. A Mini Ratna Central Public Sector Enterprise, the SMFCL has been formally registered as an NBFC with the Reserve Bank of India (RBI). As a sector-specific NBFC, the SMFCL is uniquely poised to br ...Read More >
New Delhi, Dec 4 (PTI) Aviation watchdog DGCA will soon come out with streamlined regulations for wet-leasing of planes by Indian airlines that will also entail enhanced oversight of the aircraft, amid airlines looking to operate more planes to meet rising travel demand. With persisting supply chain woes, there is a delay in aircraft deliveries and to meet the near-term needs, carriers are opting for planes on dry and wet leases. Also Read | ISRO PROBA-3 Mission Launch Delayed: Indian Space Agency Reschedules Launch of PSLV-C59 After Detecting 'Anomaly'. A senior official in the know told P ...Read More >
Shimla (Himachal Pradesh) [India], May 20 (ANI): Apple farmers in Himachal Pradesh have demanded a complete ban on the import of Turkish apples into India, citing Turkey's political stance during heightened tensions between India and Pakistan. A joint delegation of fruit growers and farmers, led by Himachal Pradesh Sanyukt Kisan Manch Convener Harish Chauhan, submitted a memorandum to the Prime Minister and President through the Governor of Himachal Pradesh. Also Read | SC on Law Graduates: Supreme Court Bars Fresh Law Graduates From Judicial Services Examination, Mandates 3-Year Legal Pract ...Read More >