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.
BENGALURU: Wipro has signed an eight-year agreement with Singapore-headquartered Olam Group in a deal expected to exceed $1 billion in total contract value, according to the company's exchange filing. The agreement includes a committed spend of $800 million and is among the largest transformation deals signed by the Indian IT services major. As part of the broader arrangement, Wipro will also acquire Olam's digital services arm, Mindsprint, for a total consideration of around $375 million in an all-cash transaction. The acquisition is expected to close by June 2026. Wipro said it will acquire a 100% stake in the Singapore-based company, which will become a wholly owned subsidiary after the completion of the transaction. The deal comes at a time when Indian IT services firms are increasingly turning to acquisitions to strengthen sector-specific capabilities and secure long-term revenue visibility. Mindsprint, the IT services arm of Olam Group, employs more than 3,200 professionals across India, Singapore, the United States, the United Kingdom and the Middle East. The company provides technology and digital services across enterprise applications, data and analytics, and digital platforms. According to the report, Mindsprint has built a strong presence in the food and agri-business industry, along with capabilities in supply chain transformation and proprietary IP-led solutions. The company reported consolidated revenue of $135 million in CY25, marking an increase of nearly 4% from $130 million in CY24, the report said. Under the eight-year contract, Wipro will deliver end-to-end transformation services for Olam. The engagement will cover Olam's "farm-to-fork" value chain, including farming, forecasting, trading, supply-chain operations and customer engagement.
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 >
Guwahati (Assam) [India], July 1 (ANI): Assam has set a new record in paddy procurement by procuring nearly 7 lakh MT of paddy during the Kharif Marketing Season (KMS) 2024-25. Assam Chief Minister Himanta Biswa Sarma on Tuesday said, 'We are proud to announce the successful conclusion of Kharif Marketing Season (KMS) 2024-25 with a record paddy procurement of 6.97 lakh MT -- the highest ever.' In Kharif Marketing Season (KMS) 2022-23, the state procured 5.92 lakh MT of paddy, and in 2023-24, the state procured 3.14 lakh MT of paddy. 'This remarkable achievement reflects our commitment to e ...Read More >
New Delhi: The central government's endeavours to develop the Indian semiconductor industry will help reduce the country's reliance on imported chips by an estimated $10 billion to $20 billion, said a report by a major consultancy firm, McKinsey. According to the firm, India must combine targeted government incentives with strategic collaborations involving global technology giants to accelerate the growth of its semiconductor industry. The consultancy highlights that such a dual approach is essential for India to establish itself as a key player in the global semiconductor value chain. "To ...Read More >
New Delhi, Jul 15 (PTI) YouTuber Samay Raina appeared before the National Commission for Women (NCW) in Delhi on Tuesday, months after he was summoned in connection with allegedly offensive and sexist content aired during his show "India's Got Latent", officials said. Raina was also among the five social media influencers who appeared before the Supreme Court in a case seeking action against them for ridiculing persons suffering from disabilities. Raina submitted his statement in response to the allegations to NCW officials. Officials said further steps will be considered after reviewing his ...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 >
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 >
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 >
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 >
To boost agroforestry and double farmers' income, the Centre has introduced model rules for tree felling on agricultural land. These rules aim to simplify permissions, promote sustainable land use, and align with climate goals. By registering on the National Timber Management System (NTMS), farmers can gain transparency and access better market prices for their timber, including international markets.The Centre has issued model rules for the felling of trees on agricultural land in a bid to promo ...Read More >
New Delhi: The Aircraft Accident Investigation Bureau (AAIB) is probing from all angles, including sabotage, in the Air India plane crash in Ahmedabad that killed 274 people on board and on the ground last month, Minister of State (MoS) For Civil Aviation Murlidhar Mohol said. Mohol said the black box of the Air India flight AI 171 that has been recovered is in AAIB's custody and will not be outside the country for a thorough assessment. The MoS was speaking at the Pune chapter of the Emerging Business Conclave. "It (plane crash) was an unfortunate incident. The AAIB has begun a full investig ...Read More >
New Delhi: Prime Minister Narendra Modi on Monday called on Brics countries to work together in order to secure critical mineral supply chains and ensure that no one nation is able to dominate and weaponize these resources. His call at the 17th Brics Summit in Rio de Janeiro comes amid a Chinese chokehold on global rare earth supplies. Brics is a group of 11 countries that was set up by Brazil, Russia, India, China and South Africa. Modi said it was important to make critical mineral supply chains reliable and ensure that no one country uses these resources for its own selfish gains or as a ...Read More >
New Delhi: Economic think tank GTRI on Saturday cautioned that allowing genetically modified (GM) farm products from the US under the proposed trade pact would have implications for India, as it may affect the country's agri exports to regions like the European Union. India and the US are negotiating an interim trade pact, which is expected to be announced before July 9. The Global Trade Research Initiative (GTRI) said that allowing the import of GM products such as soybean meal and distillers dried grains with solubles (DDGS) for animal feed would affect India's agricultural exports to the E ...Read More >
Bhopal (Madhya Pradesh) [India], July 13 (ANI): Madhya Pradesh Chief Minister Mohan Yadav is scheduled to go on an official visit to Dubai in the UAE and Spain from July 13 to July 19. The aim of his visit is to bring global investment to Madhya Pradesh, encourage technology sharing, and create new job opportunities. As per the release, Yadav will leave for Dubai on Sunday afternoon. Soon after reaching, he will meet several well-known people to tell them about the strengths of Madhya Pradesh. He will speak about investment, education, and building strong cultural ties between Madhya Pradesh ...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 >
CHENNAI: The Tamil Nadu Anti-Terrorism Squad (ATS) of the state police on Tuesday said it has arrested two accused wanted in several bomb blasts and communal murder cases after being on the run for over 25 years. The key accused among the two is Abubacker Siddique of Nagore. He is allegedly involved in the attempt to plant a pipe-bomb during the rath yatra of former home minister LK Advani in Madurai in 2011, among others. Other cases he is allegedly involved include the bomb blast at Hindu Munnani office in 1995 in Chennai, an explosion in Nagore the same year, and coordinated planting of bo ...Read More >
Thiruvananthapuram: Ravada A Chandrasekhar took charge as the new State Police Chief on Tuesday. He succeeds Shaik Darvesh Saheb, who retired on June 30. His tenure will run until July 1, 2027. A 1991-batch IPS officer currently serving as Special Director with the Intelligence Bureau, Chandrasekhar is on central deputation. He was selected over Nitin Agarwal, who topped the official list of probables. The appointment order, issued by Kerala Chief Secretary Dr A Jayathilak on behalf of the Governor, was released soon after a cabinet meeting held on Monday. Hailing from Andhra Pradesh's Godav ...Read More >
New Delhi: Defence Minister Rajnath Singh and his American counterpart Pete Hegseth have agreed to firm up a 10-year framework to further expand defence and strategic ties between India and the US. The decision on the defence framework was mentioned in a Pentagon statement that was released on Wednesday, a day after Singh and US defence secretary Hegseth held a phone conversation. "Secretary Hegseth and minister Singh agreed to sign the next 10-year US-India defence framework when they next meet this year," it said. It said the two sides discussed pending major US defence sales to India and ...Read More >
Srinagar, Jul 4: Lieutenant Governor (LG) Manoj Sinha Friday said that he was proud to see women breaking barriers in agricultural sciences and technology. In his address at the 6th convocation ceremony of Sher-e-Kashmir University of Agricultural Sciences and Technology, Kashmir (SKUAST-K), the LG said, "Proud to see our daughters breaking barriers and achieving success in Agricultural Science and Technology. It reflects a bright future for J&K and the nation." During the convocation, of the 5250 degrees of undergraduate, master's, and PhD, 2661 degrees were awarded to women, of the 150 stu ...Read More >
New Delhi: Economic think tank GTRI on Saturday cautioned that allowing genetically modified (GM) farm products from the US under the proposed trade pact would have implications for India as it may affect the country's agri exports to regions like the European Union. India and the US are negotiating an interim trade pact, which is expected to be announced before July 9.The Global Trade Research Initiative (GTRI) said that allowing the import of GM products such as soybean meal and distillers dried grains with solubles (DDGS) for animal feed would affect India's agricultural exports to the Eur ...Read More >
Mumbai: Net profit of Nifty 50 companies at the aggregate level is expected to increase 4.6% year-on-year while revenue may increase 4.5% for the June 2025 quarter. Net profit is likely to show single-digit year-on-year growth for the first time in at least nine quarters amid an anticipated poor performance by select companies, including Tata Motors, IndusInd Bank and Coal India. The sample's revenue is expected to grow in single digit for the fourth consecutive quarter reflecting persistent muted demand scenario. Select companies from metals, pharmaceuticals, cement, banking and finance and ...Read More >
New Delhi [India], July 11 (ANI): The UK India Business Council (UKIBC) has released a report, putting out a slew of recommendations to deepen bilateral defence cooperation between the UK and India. Through the report, UKIBC offered suggestions to the UK government to strengthen commercial ties and align strategic priorities with India, including strengthening G2G ties, strategic communication, and industry engagement. UKIBC is a policy advocacy and strategic consulting not-for-profit, with a mission to grow the UK-India trade and investment. UKIBC also suggested establishing a UK-India def ...Read More >
Hyderabad: Databricks, the Data and AI company, announced its Series J funding. The company is raising $10 billion of expected non-dilutive financing and has completed $8.6 billion to date. This funding values Databricks at $62 billion and is led by Thrive Capital. Along with Thrive, the round is co-led by Andreessen Horowitz, DST Global, GIC, Insight Partners and WCM Investment Management. Other significant participants include existing investor Ontario Teachers' Pension Plan and new investors ICONIQ Growth, MGX, Sands Capital and Wellington Management. The company has seen increased momentu ...Read More >
Hyderabad: With the early onset of pre-monsoon showers, farmers across Telangana have started their agricultural activities ahead of schedule. However, the agriculture department is facing strong criticism for failing to provide adequate fertilizers and seeds necessary for the current season. According to officials, there is a significant shortfall in the availability of essential inputs like urea and cotton seeds, which may negatively impact crop planning and productivity across the state. Also Read: Madhuri Dixit Recalls 'Hum Aapke Hain Koun' Magic with Salman Khan as Monsoon Arrives For ...Read More >
NEW DELHI, June 5 (Reuters) - Indian and U.S. are holding high-level talks this week, aiming to finalise tariff cuts in sectors such as farm and automobiles as part of an interim deal, two government sources said, with an announcement likely later this month. A U.S. delegation led by senior officials from the Office of the United States Trade Representative (USTR) began closed-door, two-day discussions in New Delhi on Thursday with Indian trade officials headed by chief negotiator Rajesh Agrawal ...Read More >
Bengaluru: The Karnataka government on Thursday took strong action against the police officers allegedly responsible for the Bengaluru stampede, suspending several high-ranking officials, including the city's police commissioner. Addressing a press conference, Chief Minister Siddaramaiah also announced a one-man commission to probe the lapses that triggered the deadly stampede. "Cubbon Park Police Station police inspector, station house master, station house officer, ACP, Central Division DCP, cricket stadium in-charge, additional commissioner of police, commissioner of police have been susp ...Read More >
Lucknow: Uttar Pradesh is expected to witness a surge in demand for medicinal crops as Chief Minister Yogi Adityanath has announced plans to start 100-bed ayurvedic wellness centres in every district and establish AYUSH colleges in six underserved divisions, officials said.The CM announced the expansion of AYUSH services across the state during the inauguration of Mahayogi Guru Gorakhnath AYUSH University in Gorakhpur on Tuesday."The vision will give a push to holistic healthcare and rural growth by boosting the demand for medicinal crops. This will enhance farmers' incomes and create jobs acr ...Read More >
Srinagar, July 09: Chief Minister Omar Abdullah on Wednesday said that Jammu & Kashmir's tourism sector is witnessing a strong revival, with a steady rise in the number of tourists visiting the Union Territory each day.Abdullah, while addressing reporters in West Bengal ahead of the Kolkata Tourism Fair, said, "Tourists are coming back to Kashmir in good numbers. The ongoingAmarnathYatra is proceeding smoothly with heavy footfall on both the Pahalgam and Baltal routes, he said."I spoke to several pilgrims, and they are all happy and satisfied with the arrangements. I have come to Kolkata to ta ...Read More >
New Delhi - Incuspaze, India's leading workspace solution provider acquires VSKOUT, a B2B SaaS solution offering curated data analytics for commercial real estate (CRE), in a strategic move to enhance and integrate high-tech capabilities. Founded in 2016, VSKOUT has emerged as a trusted name in real estate data services, known for its proprietary analytics tools, data mapping capabilities, and deep insights into India's commercial real estate landscape. The deal is structured as a combination of cash and equity swap. Combining Incuspaze's expansive pan-India footprint spanning 50 locations a ...Read More >
Umwelt.Ai has partnered with PeopleStrong to enhance employee experiences and streamline HR processes through advanced AI-driven engagement solutions. This collaboration combines Umwelt.Ai’s cutting-edge analytics and sentiment analysis with PeopleStrong’s expertise in Human Capital Management (HCM), delivering real-time insights to tackle workforce challenges. The partnership aims to boost employee satisfaction, retention, and productivity, aligning with the rapid growth of India’s employee engagement market. Umwelt.Ai’s CEO Vishal Chopra emphasized its role in fostering dynamic workplaces, w ...Read More >
New Delhi: India's economy remains on firm footing, but persistent global headwinds, ranging from trade frictions and policy uncertainty to ongoing geopolitical tensions, could weigh on future growth, the Finance Ministry said in its latest Monthly Economic Review released on Friday. "These external challenges could potentially impact India's growth trajectory and warrant close and continuous monitoring," added the May edition of the review. Despite these risks, the ministry maintained a largely optimistic tone. "Overall, the outlook for the Indian economy remains positive, demonstrating re ...Read More >