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.
Patna [India], April 5 (ANI): Stating that the source of the global energy disruption is Israel-US war against Iran, Dr Abdul Majid Hakeem Ilahi, representative of Iran's Supreme Leader in India, said on Sunday that the Strait of Hormuz is closed for Tehran's enemies and other countries are "free to pass" through it. In an interview with ANI, Abdul Majid Hakeem Ilahi said some Indian ships have passed through Hormuz and hoped it will continue. Asked about the possibility of the end of the war that began on February 28, Abdul Majid Hakeem Ilahi said it "depends on the countries who initiated this war". He said war will end if attacks on Iran stop. "They started attacking and killed a lot of civilians. If they stop this, the war will end," he said. Asked if India can play a role in US-Iran peace negotiations, he said, "all countries can play a good role in stopping this war". Asked about Pakistan's role in the West Asia conflict, he said the conversation between Iran and America through Islamabad "wasn't true" because the US just wanted to stop the rise in price of oil. "They don't have any role in this war. A conversation between Iran and America through Pakistan, this wasn't true because they (US) just wanted to stop the (rise in) price of oil... They just wanted to use some countries," he said. Asked if Indian ships should be allowed to pass the Strait of Hormuz, he said:, "Yes. Up to now, some Indian ships have passed, and I hope that will continue." "Before this war, there weren't any problems... This means that the source of all conflicts and crises is this war... The problem is not whether Iran allows or not. This is a security issue... Some enemy countries that use this Strait for attacking Iran are not allowed, but other countries are free to pass," he added. Abdul Majid Hakeem Ilahi said he was invited by some of "brothers from Patna" and came to the city to thank them "for their solidarity, sympathy, and condolences". The conflict in West Asia began following US-Israel joint military strikes on Iran on February 28, which led to the death of Iran's 86-year-old Supreme Leader, Ayatollah Ali Khamenei. Tehran, in retaliation, targeted Israel and US assets in several Gulf countries, causing disruption in the waterways and affecting international energy markets and global economic stability. (ANI)
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 >
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 >
New Delhi: Despite the attacks by America and Israel, Iran's nuclear programme has not been completely destroyed. This big revelation has been made by Rafael Grossi, the head of the United Nations nuclear monitoring agency IAEA. He says that Iran can resume uranium enrichment in a few months, that is, it is very close to making a nuclear bomb. He claims that Iran's technical and industrial capabilities are still intact. This statement directly challenges the claim of US President Donald Trump, in which he said that America had "completely destroyed" Iran's nuclear bases and "pushed the countr ...Read More >
Patna (Bihar) [India], July 6 (ANI): The ongoing Special Intensive Revision (SIR) campaign of the electoral rolls in Bihar is progressing rapidly and recognizing the efforts of the Polling station officials, the Chief Electoral Officer (CEO) of Bihar has announced a special incentive of Rs 6,000 for each. This additional honorarium is aimed at acknowledging their hard work and commitment during the intensive revision process. Also Read | PM Narendra Modi, Argentine President Javier Milei Agree to Diversify India-Argentina Trade Basket, Vows to Expand Cooperation in Defence, Security and Mine ...Read More >
New Delhi: The main source of income of any country is tax. If we talk only about India, here income tax is levied according to the income of the people. That is, people who earn less have to pay less tax. The highest rate of income tax in the country is 39 percent. In many countries of the world, the tax rate is less than India while in many countries it is higher. There are some countries in the world where tax is not levied. In such a situation, the question arises that how will the economy of these countries run? The countries where tax is not levied include most of the Gulf countries. Ap ...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 >
Mumbai, Mar 11 (PTI) The rupee declined 16 paise to settle at 92.01 (provisional) against the US dollar on Wednesday, weighed down by a sharp rise in global crude oil prices and a stronger greenback as the war in West Asia raged on. FII outflows and weak sentiments in the domestic equity markets further pressured the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 91.92 against the US dollar and traded in the range of 91.85-92.06 before settling at 92.01 (provisional), down 16 paise from its previous close. The rupee staged a strong recovery fr ...Read More >
New Delhi, Mar 11 (PTI) State-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) absorbing the impact of elevated global energy prices will lead to heightened margin and cash-flow volatility, Moody's Ratings said on Wednesday. "Domestic retail prices of fuels have remained largely steady since April 2022, despite swings in global oil and gas prices and the country's high dependence on imports," Moody's said in a note. "The companies will bear rising input costs from higher energy prices without correspondi ...Read More >
New Delhi, March 12 (SocialNews.XYZ) India on Thursday categorically rejected claims that it took five days to sign the condolence book for late Iranian Supreme Leader Ayatollah Khamenei at the Iranian Embassy in New Delhi, terming such statements as "ill-informed". Addressing a weekly media briefing on Thursday, Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal mentioned that Foreign Secretary Vikram Misri signed the condolence book on the first day of the opening of the book and urged commentators to update themselves on important matters before making remarks in public. "Let ...Read More >
Hyderabad (Telangana) [India], March 12 (ANI): Bharat Rashtra Samithi (BRS) Working President KT Rama Rao on Thursday wrote to Union Petroleum and Natural Gas Minister Hardeep Singh Puri seeking urgent intervention to address the shortage of both commercial and domestic LPG cylinders. According to a post by BRS on 'X', KTR warned that the shortage is severely affecting hotels, eateries, hostels and small food businesses. The letter cautioned that thousands of establishments could be forced to shut down, while lakhs of workers and students may face serious hardship if the LPG supply is not res ...Read More >
NEW DELHI: Asserting that the foundation of every single nation is its energy security, Leader of Opposition Rahul Gandhi on Thursday alleged that the government has "bartered" to the US India's right to determine its relationships with different oil suppliers due to a "compromise". Raising the issue in the Lok Sabha, Gandhi said the war between the US-Israel and Iran is going to have far-reaching consequences. "The central artery from where 20 pc of global oil flows, Strait of Hormuz, has been closed and this is going to have tremendous repercussions, particularly for us because a very larg ...Read More >
New Delhi, March 12 (SocialNews.XYZ) There is no fuel shortage, and India has sufficient crude oil stock at the moment, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Thursday, adding that people should not spread rumours and avoid creating fake narratives. Speaking in Parliament, the minister stressed that the volume of energy in India is secure. "India's crude supply position is secure, and the secured volume exceeds what Hormuz would have delivered. Thanks to Prime Minister Narendra Modi's outstanding diplomatic outreach and goodwill, India has secured crude volumes that ex ...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 >
Indian businesses say they are struggling to keep operations running as gas supplies are disrupted by the US and Israel's war on Iran. Restaurant owners are scrambling to keep kitchens running and entrepreneurs in industries like ceramics and fertilisers say they are unable to maintain their production and are warning of shutdowns. India has said it is not short of gas but has invoked emergency measures to ensure supplies get to domestic consumers and other key users. The country meets half of ...Read More >
Indore (Madhya Pradesh) [India], March 12 (ANI): After Madhya Pradesh's capital Bhopal, the reported shortage of commercial LPG cylinders is affecting the restaurant and food business in Indore city as well, with several food stalls facing difficulties in continuing their operations. Restaurant owners say they are unable to obtain commercial gas cylinders, resulting in some establishments temporarily shut down, and some food outlets selling tea, poha, and kachori are trying to keep their businesses running by using wood and coal for cooking. "I run a tea and poha shop here. We are unable to ...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, March 2 (SocialNews.XYZ) Prime Minister Narendra Modi and his Canadian counterpart Mark Carney discussed ongoing global issues, including the current situation in Iran, the Ministry of External Affairs (MEA) said on Monday. While addressing a special briefing on Carney's visit to India on Monday, Secretary (East) in MEA, P Kumaran, stated that PM Modi, during the meeting, said that India is deeply concerned about the recent developments in Iran and the Gulf region. He mentioned that PM Modi has urged all sides to avoid escalation and follow the path of dialogue and diplomacy to de- ...Read More >
New Delhi, Mar 2 (PTI) Equity investors became poorer by Rs 6.59 lakh crore on Monday as markets faced a massive drubbing amid rising tensions in West Asia that weighed heavily on sentiments. The 30-share BSE Sensex tanked 2,743.46 points or 3.37 per cent to 78,543.73 in early trade. It later ended at 80,238.85, down 1,048.34 points or 1.29 per cent. The market capitalisation of BSE-listed companies eroded by Rs 6,59,978.08 crore to Rs 4,56,90,693.19 crore (USD 5 trillion). "Indian equities witnessed a sharp decline as escalating tensions in West Asia triggered a pronounced risk-off respons ...Read More >
Mumbai: Defence-related shares ended higher on Monday even as the overall stock market closed in the red. The rise came after tensions increased in the Middle East following a major military strike involving the US and Israel. Defence Stocks See Strong Buying Shares of Ideaforge Technology jumped 7.66 percent at closing. Paras Defence and Space Technologies rose 5.95 percent. Other defence stocks also gained. Bharat Electronics climbed 2.09 percent, Astra Microwave Products advanced 1.62 percent, and Taneja Aerospace & Aviation went up 1.34 percent. Hindustan Aeronautics rose 0.96 percent, ...Read More >
New Delhi, Feb 2 (PTI) The Rashtriya Swayamsevak Sangh (RSS) on Monday called for peace in the world, saying battles should only happen for the good of humanity and truth, not for "selfish" reasons. Addressing an event here, RSS national publicity and media department head Sunil Ambekar also expressed concern over the safety of Indians stranded in various locations abroad due to the prevailing situation in West Asia. The senior RSS functionary's remarks came amid widening conflict in West Asia after the United States and Israel targeted Iran in coordinated attacks over the weekend that kille ...Read More >
NEW DELHI -- Foreign Affairs Minister Anita Anand is refusing to say whether Canada believes the American and Israeli strikes on Iran that sparked an escalated conflict in the Middle East are consistent with international law, after her government declared support for the action to prevent the Islamic theocracy from obtaining nuclear weapons. Speaking to reporters instead of Prime Minister Mark Carney on Monday -- the prime minister cancelled the only news conference of a four-day trip to India -- Anand repeatedly refused to say whether she agrees with the head of the United Nations, who cond ...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 >
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 >
Congress president Mallikarjun Kharge has written to Rajya Sabha Chairman C P Radhakrishnan, urging an early short-duration discussion on India's energy security amid the Israel-Iran war. He cited the issue's national importance and referred to recent rises in domestic LPG cylinder prices and higher commercial gas rates as immediate concerns. Congress president Mallikarjun Kharge wrote to Rajya Sabha Chairman C P Radhakrishnan on Monday. Mallikarjun Kharge repeated a demand for an immediate shor ...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: Prime Minister Narendra Modi may meet US President Donald Trump on the sidelines of the ASEAN Summit in Kuala Lumpur on October 26-27, if the American leader confirms his participation, according to reports. Modi is expected to travel to the Malaysian capital for the ASEAN-India Summit, which is held alongside the main ASEAN meet, and also attend the East Asia Summit where both India and the US are participants. Malaysian Prime Minister Anwar Ibrahim has already extended an invitation to President Trump. If the meeting takes place, it will be the first between the two leaders since ...Read More >
New Delhi: US President Donald Trump has announced that he does not plan to extend the 90-day pause on tariffs beyond the July 9 deadline. Speaking to Fox News Channel's Sunday Morning Futures, Trump said that letters notifying countries of upcoming trade penalties will be sent out shortly. "We'll look at how a country treats us, are they good, are they not so good, some countries we don't care, we'll just send a high number out," he said. The letters will state, "Congratulations, we're allowing you to shop in the United States of America, you're going to pay a 25 per cent tariff, or a 35 per ...Read More >