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.
April 4 (Reuters) - Indian refiners have purchased Iranian oil amid the Middle East conflict that has disrupted supplies through the Strait of Hormuz, the oil ministry said on Saturday. The world's third-biggest oil importer and consumer, India has not received a cargo from Tehran since May 2019, following U.S. pressure not to buy Iranian crude, but supply disruptions from the U.S.-Israel war have hit the South Asian nation hard. "Amid Middle East supply disruptions, Indian refiners have secured their crude oil requirements, including from Iran; and there is no payment hurdle for Iranian crude imports," the oil ministry said on X. Last month, the United States temporarily removed sanctions on Iranian oil and refined products to ease supply shortages. India has secured its full requirements of crude oil for the coming months, the ministry added. "India imports crude oil from 40-plus countries, with companies having full flexibility to source oil from different sources and geographies based on commercial considerations." India has also bought 44,000 metric tons of Iranian liquefied petroleum gas loaded on a sanctioned vessel. The ministry said the vessel, which berthed at the western port of Mangalore on Wednesday, is discharging the fuel. (Reporting by Nidhi Verma and Devika Nair in Bengaluru; Editing by Joe Bavier and Clarence Fernandez)
Adani Group's listed stocks, which at one point saw as much as $34 billion wiped off their market value, meanwhile recovered ground as some partners and investors rallied behind it. State Bank of India will not stop lending to ongoing Adani projects that are nearing completion, two sources told Reuters, but will exercise caution when disbursing loans to ensure all terms and conditions are being met. Bank of India, Union Bank, ICICI Bank, Canara Bank, IDBI Bank and RBL Bank, which have relatively smaller exposures to the Adani Group, are undertaking similar exercises, sources said. A regulat ...Read More >
Ahmedabad, June 8 (SocialNews.XYZ) The MSC IRINA, recognised as the world's largest container ship by TEU (Twenty-foot Equivalent Unit) capacity, is set to dock at the Adani Group's Vizhinjam International Seaport on Monday and will be berthed till Tuesday. The monumental arrival marks a significant milestone for the seaport, which was dedicated to the nation by Prime Minister Narendra Modi on May 2. The MSC IRINA boasts an impressive capacity of 24,346 TEUs, making it a formidable player in global shipping. With a length of 399.9 metres and a width of 61.3 metres, the vessel is approximate ...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 >
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 >
NEW DELHI (Reuters) - India's federal investigating agency has accused liquor giant Diageo and Sequoia Capital of making suspicious payments to a politician's firm to seek favourable government decisions, it said in a document Reuters reviewed on Friday. In the document, the Central Bureau of Investigation (CBI) says Diageo Scotland made a suspicious fund transfer to Indian politician Karti Chidambaram's firm after a 2005 ban on sale of its duty-free products hit sales of its Johnnie Walker whisky. In the case document on its website, the agency said an investigation showed a payment of $15, ...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 [India], June 5 (ANI): External Affairs Minister S Jaishankar, in the presence of leaders of Central Asian countries, touched upon various business opportunities and complementarities between these respective economies on Thursday. Jaishankar suggested a few areas where India and Central Asian countries should collaborate to improve their economies. Jaishankar noted that India's trade and economic ties with Central Asia have actually shown a very strong positive trend over the last decade. However, he has also said that the trade figures do not reflect the full potential. Given th ...Read More >
Hyderabad: In a significant boost for 'Make in India' and 'Atmanirbharta' in the aerospace and defence sector, and Hyderabad's growing stature as a global aerospace hub, the complete fuselage of the Rafale fighter jet will now be made in India at Hyderabad. This move marks the first time that these Rafale components will be manufactured outside France for the Indian as well as global markets.French aerospace major Dassault Aviation has signed four production transfer agreements with Tata Advanced Systems Ltd (TASL) for manufacturing key sections of the Rafale fighter jet, including the lateral ...Read More >
India has pledged USD 20 billion towards infrastructure development, prioritizing multimodal logistics, port connectivity, and trade facilitation, according to Union Minister Sarbananda Sonowal. He emphasized India's growing maritime capabilities and called for greater partnerships in seafarer recruitment. Strategic corridors like IMEEC, EMC, and INSTC are strengthening maritime connectivity and supply chains.India has committed USD 20 billion for infrastructure development, with a focus on enhan ...Read More >
The National Investigation Agency (NIA) has charged five individuals, including goldy Brar, in relation to the 2024 Gurugram club bombing plot, as revealed in a recently filed chargesheet. This case involves a conspiracy to bomb two clubs, aiming to disrupt communal harmony in Haryana, with the banned terrorist group Babbar Khalsa International (BKI) implicated. The NIA's investigation highlights the severity of the plot. Those charged include satinderjit Singh (Goldy Brar), Sachin Talian, Ankit, Bhavish, and Randeep Singh. News Directory 3 provides crucial updates on sensitive cases such ...Read More >
Donald Trump claims he prevented a war between India and Pakistan. He says he used the threat of halting trade deals to de-escalate tensions. Trump mentions phone calls with leaders from both nations. He also notes a meeting with Pakistan's Army Chief. India maintains that the ceasefire understanding came from direct talks between military officials.US President Donald Trump on Wednesday repeated his claim that he stopped the war between India and Pakistan and told the two countries that America ...Read More >
CHENNAI: The recently concluded Shanghai Cooperation Organisation (SCO) summit in China has brought to the fore the contradictions and dilemmas of India's foreign policy. They relate to the growing affinity between China and Pakistan, which could upset the delicate balance of power in South Asia and India's balancing act with regard to the conflict between Israel and Iran. Whatever the political rhetoric of new regimes, continuity in foreign policy is almost unchangeable, while there will be room for making some changes or shifts. India, under successive NDA governments, has been making some ...Read More >
FRANKFURT (Reuters) - Import tariffs expected to be implemented by the administration of U.S. President-elect Donald Trump could lower economic growth and inflation in the 20 nations sharing the euro, European Central Bank board member Piero Cipollone said on Tuesday. Most economists agree that the possible tariffs would impact growth, though views diverge on the effect on consumer prices. Some argue the U.S. trade barriers will push up the value of the dollar, making imports of key commodities more expensive, while likely retaliation from Europe will also raise costs. Cipollone, speaking i ...Read More >
NEW DELHI: A top aide to Russian President Vladimir Putin has said that US President Donald Trump played a role in stopping the armed conflict between India and Pakistan. The issue came up during a phone call between the two leaders, which lasted about 70 minutes and covered major global developments. Yury Ushakov, who previously served as Russia's ambassador to the US, told reporters that the conversation included a range of topics, including Ukraine, the Middle East, and South Asia. "Additionally, the Middle East was discussed, as well as the armed conflict between India and Pakistan, which ...Read More >
Ahmedabad, June 8: The MSC IRINA, recognised as the world's largest container ship by TEU (Twenty-foot Equivalent Unit) capacity, is set to dock at the Adani Group's Vizhinjam International Seaport on Monday and will be berthed till Tuesday. The monumental arrival marks a significant milestone for the seaport, which was dedicated to the nation by Prime Minister Narendra Modi on May 2. The MSC IRINA boasts an impressive capacity of 24,346 TEUs, making it a formidable player in global shipping. With a length of 399.9 metres and a width of 61.3 metres, the vessel is approximately four times long ...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 >
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 >
Thiruvananthapuram (Kerala) [India], June 8 (ANI): The MSC IRINA, recognised as the world's largest container ship by TEU (Twenty-foot Equivalent Unit) capacity, will dock at the Vizhinjam International Seaport in Thiruvananthapuram, Kerala, on Monday morning and will be berthed until Tuesday. This monumental arrival marks a significant milestone for the seaport, which Prime Minister Narendra Modi dedicated to the nation on May 2. Also Read | MSC IRINA, World's Largest Container Ship, To Make Historic Debut at Vizhinjam International Seaport. The MSC IRINA boasts an impressive capacity of 2 ...Read More >
New Delhi: Alleging "blatant misuse" of agencies to defame its leaders, AAP on Thursday questioned why the first information report filed against former Delhi ministers Saurabh Bharadwaj and Satyendar Jain was being kept under wraps and "selective" press notes were being leaked to the media.Bharadwaj, who is Delhi AAP convener, alleged that only two former ministers were named in the case without any reasonable cause while all the officers of the health and public works departments, who were actually responsible for executing the hospital projects, were spared. "Is the FIR so baseless that BJP ...Read More >
Mumbai, Jun 27 (PTI) Equity benchmark indices Sensex and Nifty advanced for the fourth straight session on Friday, supported by buying in blue-chips ICICI Bank and Reliance Industries amid fresh foreign fund inflows. A strengthening rupee against the US dollar and softening crude oil prices in international markets also boosted investor confidence, according to traders. The BSE Sensex climbed 303.03 points or 0.36 per cent to reclaim the 84,000 level and settle at 84,058.90. During the day, it jumped 333.48 points or 0.39 per cent to 84,089.35. On the similar lines, the 50-share NSE Nifty r ...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 >
European nations are investigating a Chinese cargo ship for underwater sabotage in the Baltic Sea, according to a report. Earlier this month, two undersea fibre-optic data cables were cut in the Baltic Sea. The first cable was damaged between Sweden and Lithuania and the second cable was damaged between Germany and Finland. Shortly after the damage was discovered, Sweden took the lead in investigations and European nations -- all members of the North Atlantic Treaty Organization (Nato) -- began pursuing a Chinese cargo ship in the region. The Chinese ship, Yi Peng 3, is currently anchored in ...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 >
"India's gateway into Europe" - that's how Greek Prime Minister Kyriakos Mitsotakis described Athens' relationship with New Delhi during his visit to India in 2024, a phrase frequently used by Greek officials whenever they discuss the ties between the two countries. The same phrase was echoed by Greece's foreign minister during an interview with Indian newspaper The Hindu ahead of his two-day visit to New Delhi on Thursday and Friday. But how does India view its relationship with Greece? To understand India's perspective, Kathimerini English Edition spoke with The Hindu's diplomatic editor Su ...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 >
Gurgaon: MCG additional commissioner Yash Jaluka directed bulk waste generators (BWG) across the city to ensure proper disposal of waste by private agencies who are assisting them. Giving these instructions in a meeting held on Friday, he said it is often observed that BWGs hand over their waste to private agencies, which only sort valuable items and dump the remaining waste on roads, drains, vacant land or public places. This, he said, not only affects cleanliness of the city but also poses a threat to public health."Under the Solid Waste Management Rules-2016, it is the legal and moral respo ...Read More >
Mumbai, Jun 8 (PTI) Shiv Sena (UBT) leader Aaditya Thackeray on Sunday said his party is ready to come together with anyone who will work to protect the interests of Maharashtra and Marathi manoos, his statement coming amid the rapprochement buzz between the Uddhav Thackeray-led party and Raj Thackeray's Maharashtra Navnirman Sena (MNS). Talking to reporters here, Thackeray accused the BJP of "swallowing" Mumbai and Maharashtra. He said injustice is being meted out to Maharashtra by the BJP. "We have been saying this consistently. We are ready to work with anyone, any party that is ready to ...Read More >
FACT CHECKThe slain lawyer was not defending Chinmoy Das; he was part of the Chattogram Bar Association Several news outlets have falsely claimed that a lawyer who was representing arrested Hindu priest Chinmoy Krishna Das Brahmachari was killed in clashes that took place at Bangladesh's Chattogram Court premises on November 26. BOOM was able to confirm that the slain lawyer Saiful Islam, who was a member of Chattogram Bar Association, was not representing Chinmoy Krishna Das Brahmachari as his legal counsel. Tensions erupted in Chattogram, the port city of Bangladesh, following the arrest ...Read More >
(The views expressed here are those of the author, a columnist for Reuters.) By Clyde Russell LAUNCESTON, Australia, Nov 28 (Reuters) - Asia's imports of crude oil ticked up slightly in November, led by a recovery by top importer China, but arrivals are still on track to be weaker this year than in 2023. The top crude-buying region is forecast to import 26.42 million barrels per day (bpd) in November, up marginally from October's 26.11 million bpd and 26.24 million bpd in September, according to data compiled by LSEG Oil Research. The ongoing run of soft monthly imports in Asia is likely t ...Read More >
New Delhi [India], January 31 (ANI): The clarion call given by Prime Minister Narendra Modi to fight obesity and reduce oil consumption has received wide support as people from different walks of life, including actor Akshay Kumar, sportspersons and people from medical fraternity lauded the message to follow healthy routine. Prime Minister Narendra Modi recently gave a clarion call to fight obesity and reduce oil consumption. This has received wide support from doctors, sportspersons as well as people from different walks of life. Prime Minister, Narendra Modi inaugurated the 38th National G ...Read More >