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, April 5 (SocialNews.XYZ) In their collective commitment to support oil market stability amid the West Asia crisis, the eight OPEC+ countries -- Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria and Oman -- on Sunday decided to implement a production adjustment of 206 thousand barrels per day in May -- from the 1.65 million barrels per day additional voluntary adjustments announced in April 2023. The countries met virtually on Sunday to review global market conditions and outlook. "This adjustment will be implemented in May 2026. The 1.65 million barrels per day may be returned in part or in full subject to evolving market conditions and in a gradual manner," OPEC said in a statement. The countries will continue to closely monitor and assess market conditions, and in their continuous efforts to support market stability, they reaffirmed the importance of adopting a cautious approach and retaining full flexibility to increase, pause or reverse the phase out of the voluntary production adjustments, including reversing the previously implemented voluntary adjustments of the 2.2 million barrels per day announced in November 2023. The eight OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation. The eight countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that will be monitored by the Joint Ministerial Monitoring Committee (JMMC). They also confirmed their intention to fully compensate for any overproduced volume since January 2024. The countries also expressed concern regarding attacks on energy infrastructure, noting that restoring damaged energy assets to full capacity is both costly and takes a long time, thereby affecting overall supply availability. They stressed that any actions undermining energy supply security, whether through attacks on infrastructure or disruption of international maritime routes, increase market volatility and weaken the collective efforts under the DoC to support market stability for the benefit of producers, consumers, and the global economy. In this regard, the eight countries commended the DoC countries that took the initiative to ensure the continued availability of supplies, particularly through the use of alternative export routes, which have contributed to reducing market volatility.
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 >
Mumbai, Jul 3 (PTI) The rupee depreciated 8 paise to 85.70 against the US dollar in early trade on Thursday amid renewed headwinds from global risk sentiment and persistent foreign fund outflows. Forex traders said the rupee was trading in a narrow range largely due to RBI's cautious strategy as any dip in USD-INR is likely to be met with dollar buying by the RBI, not only to manage maturities but also to rebuild its intervention cushion. This persistent demand for dollars by the central bank is limiting the gains for the rupee, they said. At the interbank foreign exchange, the domestic uni ...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 >
Moradabad (UP), Aug 1 (PTI) The Moradabad district administration has cancelled the allotment of a government bungalow granted to former Uttar Pradesh chief minister Mulayam Singh Yadav. The Samajwadi Party (SP) has been asked to vacate the premises within 30 days. The bungalow, located in the posh Civil Lines area near the Police Training College (PTC II), was allotted to the SP patriarch 31 years ago. Spread across nearly 1,000 square meters on Nazul land, the property serves as the local SP office. District Magistrate Anuj Singh said the property is needed for housing officers and other ...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 >
Mumbai: The rupee rose 22 paise to 85.72 against the US dollar in early trade on the back of fall in global crude oil prices and a weaker greenback. FII inflows and a positive domestic equity market further boosted the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 85.75 against the US dollar before rising further to 85.72, up 22 paise against its previous close. The local unit logged a steep fall of 54 paise to settle at 85.94 against the US dollar on Monday. "The rupee recovered towards closing yesterday (Monday) after falling due to heavy d ...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 >
New Delhi, Aug 28 (PTI) India's gains from importing discounted Russian oil are estimated to be just USD 2.5 billion per annum, significantly lower than the previously speculated range of USD 10-25 billion, a research report said on Thursday. Stopping Russian oil imports would force India, the world's third-largest oil importer and consumer, to rely on limited alternatives, potentially driving global crude prices up to USD 100 per barrel amid rising demand and tight supply. "Benefit from Russian oil imports is way less than exaggerated media numbers," brokerage CLSA said in a report. While ...Read More >
New Delhi [India], September 2 (ANI): Prime Minister Narendra Modi on Tuesday said that the day is not far when the smallest chips made in India will drive the biggest change in the world. He added that even though India started late in the semiconductor sector but nothing can stop the country now. Speaking at the inaugural ceremony of India Semicon 2025, the Prime Minister highlighted India's growing role in the global semiconductor ecosystem. He said, "The day is not far when the smallest chip made in India will drive the biggest change in the world. And it is also true that even if we sta ...Read More >
India is concerned with a U.S. Senator's proposal to slap a 500% tariff on goods imported in America from countries buying Russian oil, Indian External Affairs Minister S Jaishankar said, adding that the world's third-largest crude oil importer has conveyed these concerns to the U.S. lawmakers. Republican Senator Lindsey Graham has proposed a bill to impose a huge tariff on any country buying Russian oil. In an interview with ABC News this weekend, Senator Graham said that President Donald Trump appears to be on board for the bill to be moved forward. "If you're buying products from Russia ...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 >
Mangaluru: MangaloreRefinery and Petrochemicals Ltd (MRPL), the ONGC-owned refining major, posted a consolidated net loss of ₹272 crore in the first quarter of FY26, as softening refining margins and lower revenue from operations weighed on its performance. The company's topline fell sharply to ₹20,988 crore, down nearly 23% from ₹27,289 crore in Q1 FY25. Its Gross Refining Margin (GRM) slipped to US$ 3.88 per barrel, compared to US$ 4.70 per barrel a year ago, amid weaker product cracks and planned maintenance shutdowns. Despite the operational headwinds, MRPL achieved a new milestone by pr ...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 >
Mumbai: The Indian benchmark indices opened higher on Tuesday amid positive global cues, as buying was seen in the auto and IT sectors in the early trade. At around 9.26 am, Sensex was trading 188.66 points or 0.23 per cent up at 83,795.12 while the Nifty added 54.80 points or 0.21 per cent at 25,571.85 According to analysts, with the US market setting new record highs, the global equity market mood is positive and West Asian geopolitics is no longer a threat to global economy. "Going forward, the market is likely to be influenced by developments on the tariff front. An India-US trade deal w ...Read More >
New Delhi [India], July 1 (ANI): Oil marketing companies revised the prices of commercial LPG gas cylinders on Tuesday, reducing the cost of a 19 kg commercial cylinder by Rs 58.50. The new rates came into effect from July 1, bringing relief to commercial users such as hotels, restaurants, and businesses. While in Delhi, with the latest revision, the retail sale price of a 19 kg commercial LPG cylinder was set at Rs 1665, down from the previous rate. There was, however, no change in the price of 14.2 kg domestic LPG cylinders, which are widely used in households. Also Read | Bhopal Shocker: ...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 >
India's U.S. Crude Oil Imports Surge 51 Per Cent Following Trump's Return To Office: Sources Sunday, August 03, 2025 by Indian Defence News Since President Donald Trump resumed office for his second term, India has significantly increased its crude oil imports from the United States, marking a substantial shift in its energy procurement strategy. From January to June 2025, India's imports of US crude oil averaged 0.271 million barrels per day (mb/d), a 51% increase compared to 0.18 mb/d in the same period in 2024. This growth was even more pronounced in the April-June 2025 quarter, which sa ...Read More >
No decision has been taken as yet on stopping imports from Russia, the people said, asking not to be named due to the sensitivity of the matter. Both state-run and private refiners are allowed to buy from their preferred sources, and crude purchases remain a commercial decision made by them, several of the people said. Trump blasted India on Wednesday for continuing to purchase most of its military equipment and energy from Russia. The US leader imposed a surprise 25 per cent tariff on India and ...Read More >
In return, India may reduce imports of Russian oil and open its market to non-genetically modified American corn and soymeal products. The U.S. and India are close to a possible trade deal that would reduce tariffs on Indian exports to about 15% to 16% from the current 50%, according to the Mint. In return, India may reduce imports of Russian oil and open its market to non-genetically modified American corn and soymeal products. The bilateral trade agreement could be announced when President Do ...Read More >
Mumbai, Oct 28 (PTI) The rupee depreciated 21 paise to 88.40 against the US dollar in early trade on Tuesday, weighed down by month-end dollar demand from importers and a surge in global crude oil prices. Forex traders said investors are keeping a watch on Federal Reserve's policy decision on Wednesday for further cues. Markets are assigning a 97.8 per cent probability to a 25-basis-point rate cut, with another one expected in December, they said. At the interbank foreign exchange market, the rupee opened at 88.34, and slipped to 88.40 against the greenback, registering a fall of 21 paise fr ...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 >
Also Read | India buys more Russian oil -- but its rupee-rouble plan isn't working Responding to a question on India's likely measures in case secondary sanctions were imposed on Russian oil imports, he said, "My my own view is the price of oil will come down. It will come down only because there is more oil available in the international market. There is more oil coming on the global market from the western hemisphere. I mean countries such as Brazil, Guyana and Canada. They're not even OPEC+ members. I'm not worried at all. If something happens, we'll deal with it." He added that India felt ...Read More >
New Delhi, Aug 14 (PTI) State-owned Indian Oil Corporation Ltd (IOC) on Thursday reported more than doubling of its first quarter net profit, as marketing margins surged because of holding of retail prices despite a drop in input oil cost. Its standalone net profit of Rs 5,688.60 crore in April-June - the first quarter of the 2025-26 fiscal year - compared to Rs 2,643.18 crore earnings in the same period of the last year, according to a stock exchange filing by the company. The first quarter profit is nearly half of the company's full 2024-25 (April 2024 to March 2025) fiscal year earnings o ...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 [India], July 10 (ANI): Petroleum and Natural Gas Minister Hardeep Puri said India's continued purchase of crude oil from Russia helped stabilise energy prices globally, and halting oil trade from Russia would have spiralled crude prices to over USD 120-130 per barrel. When asked about buying Russian oil during a press interaction, Minister Puri explained that Russia produces over 9 million barrels per day and is one of the world's largest crude oil producers. If, out of global oil supplies of around 97 million barrels, 9 million barrels had suddenly vanished, the entire world woul ...Read More >
New Delhi [India], September 2 (ANI): Prime Minister Narendra Modi on Tuesday said that the day is not far when the smallest chips made in India will drive the biggest change in the world. He added that even though India started late in the semiconductor sector but nothing can stop the country now. Speaking at the inaugural ceremony of India Semicon 2025, the Prime Minister highlighted India's growing role in the global semiconductor ecosystem. Also Read | iPhone 17, iPhone 17 Air, iPhone 17 Pro and iPhone 17 Pro Max Price and Camera Specifications Tipped Ahead of Launch on September 9. He ...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 said Prime Minister Narendra Modi on Wednesday assured him that India will end Russian oil purchases, though not immediately -- a claim the Ministry of External Affairs (MEA) disputed, saying the two leaders had "no telephonic talks" that day. "It has been our consistent priority to safeguard the interests of the Indian consumer in a volatile energy scenario. Our import policies are guided entirely by this objective," the MEA said in its first reaction to Trump's claims early on Thursday. "The current (US) administration has shown interest in deepening en ...Read More >