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 6 (SocialNews.XYZ) The government on Monday said that the country has achieved its highest-ever annual wind capacity addition of 6.05 GW in FY26, crossing the landmark of 5.5 GW capacity addition in FY 2016-17. This represents an increase of nearly 46 per cent over the capacity added in FY25, marking a decisive acceleration in India's onshore wind deployment trajectory. "With this addition, India's cumulative installed wind power capacity has crossed 56 GW. This milestone reflects renewed momentum in the sector driven by improved policy clarity, transmission readiness, competitive tariff discovery, and a strong project pipeline," said the Ministry of New and Renewable Energy in a statement. India's wind energy sector has grown steadily. The government has taken several initiatives to promote the sector including Concessional Custom Duty on certain components and raw materials used in manufacturing of wind turbines, graded Waiver of Inter-State Transmission System (ISTS) charges till June 2028, competitive bidding mechanisms, separate Wind Renewable Consumption Obligation (RCO) frameworks, technical support from National Institute of Wind Energy. The record addition significantly strengthens India's renewable energy portfolio and contributes towards achieving the national target of 500 GW of non-fossil fuel-based energy capacity by 2030. India's wind energy programme was initiated in the early 1990s as part of the government's broader renewable energy strategy. Over the past three decades, India has developed a strong wind energy ecosystem and a robust policy framework to promote grid-connected wind power projects, said the ministry. This milestone achievement is the result of sustained policy support, improved project execution, and greater pipeline maturity across key wind states. "States such as Gujarat, Karnataka, and Maharashtra have been the primary contributors to capacity addition during the year, underpinned by a growing pipeline of wind-solar hybrid projects and the progressive roll-out of green energy open access," the statement added.
New Delhi [India], December 2: The IVCA GreenReturns Summit 2024 commenced today in New Delhi, convening over 400 visionaries, investors, policymakers, and entrepreneurs to chart a transformative path for India's green economy. The Summit is dedicated to aligning India's climate goals with its trillion-dollar economic aspirations for a 'Viksit Bharat,' spotlighting high-impact investment opportunities, addressing funding gaps, and driving actionable solutions for net-zero and climate adaptation. Also Read | Mamata Banerjee Says West Bengal Yet To Get INR 14,000 Crore From Centre for Supply of ...Read More >
Ahmedabad (Gujarat) [India], December 2 (ANI): Ambuja Cements has taken a step toward achieving its Net Zero goals. The company has partnered with Finland-based technology leader Coolbrook to implement its proprietary RotoDynamic Heater (RDH) technology. According to the exchange filing, this cutting-edge, zero-carbon heating solution, powered by renewable electricity, will drastically reduce the company's dependence on fossil fuels and lower its carbon emissions, aligning with its sustainability vision. Ambuja Cements will significantly reduce its fossil fuel dependence by harnessing renewa ...Read More >
Bengaluru, 4th December 2024- PURE EV, one of India's leading electric two-wheeler manufacturers, has unveiled an ambitious roadmap to strengthen its presence nationwide and expand globally while introducing innovative solutions for sustainable mobility. Over the next 30 months, the company aims to add 250 new dealerships, taking its total network to over 320 across India. The expansion will be driven by the growing demand for long-range scooters, electric motorcycles, large B2B contracts, and the company's entry into the house-hold brand space. Dr. Nishanth Dongari, Founder & MD of PURE EV, ...Read More >
Jamshedpur, Dec 17 (PTI) Tata Steel has operationalised an all-women shift at its Noamundi iron mine in Jharkhand's West Singhbhum district, an initiative introduced in the country for the first time, a company statement said. Women employees were engaged in all the mining activities of the shift, including heavy earth moving machinery, shovel, loader, drill [...] Jamshedpur, Dec 17 (PTI) Tata Steel has operationalised an all-women shift at its Noamundi iron mine in Jharkhand's West Singhbhum district, an initiative introduced in the country for the first time, a company statement said. Wome ...Read More >
IREDA plans to raise Rs 5,000 crore through a QIP, setting the floor price at Rs 173.83 per share. The initiative supports growing green energy financing demands. The board and shareholders had earlier approved the move, with possible discounts and non-dilution commitments outlined. State-run Indian Renewable Energy Development Agency Ltd (IREDA) has established the floor price for its qualified institutional placement (QIP) at Rs 173.83 per equity share, aiming to raise approximately Rs 5,000 c ...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 >
Tata Steel launched an all-women mining shift at its Noamundi iron mine in Jharkhand, a first in India. This initiative builds on their "Women@Mines" program and aims to empower women in mining. The company trained local women to operate heavy machinery through the "Tejaswini" initiatives, leading to this milestone. Tata Steel also achieved 20% diversity in its India workforce.In order to bring in more diversity, Tata Steel has rolled out an all-women shift at its Noamundi iron mine in Jharkhand. ...Read More >
Speaking at IIT Bombay's Techfest 2024, Mr Adani, the 27-year old younger son of infrastructure magnate Gautam Adani, said the future of technology is both scary and exciting. India cannot stay out of global technological race, said Jeet Adani. Mumbai: India cannot stay out of global technological race and should build capabilities that will keep it at the top while remaining vigilant against its misuse, said Jeet Adani, Director, Adani Airport Holdings Ltd. Speaking at IIT Bombay's Techfest ...Read More >
Vijayawada (Andhra Pradesh) [India], May 22 (ANI): Former Andhra Pradesh Chief Minister and YSRCP president YS Jagan Mohan Reddy on Thursday launched a scathing attack on the current TDP-led government in the State, accusing Chief Minister Chandrababu Naidu of failing to deliver on pre-election promises and engaging in financial mismanagement. The former chief minister also took aim at what he called the "yellow media" for biased reporting in favour of the ruling party. "I am not only fighting against Chandrababu Naidu but also against the 'yellow media'," Reddy said in a press conference. ...Read More >
Gujarat Urja Vikas Nigam (GUVNL) has issued a request for selection for procuring power from 500 MW solar projects on a build, own, operate basis. The tender includes a greenshoe option for an additional capacity of up to 500 MW, increasing the potential total to 1,000 MW. Bids must be submitted by June 13, 2025. Bids will be opened on June 18. Bidders must furnish an earnest money deposit of ₹928,000 (~$10,895)/MW, a tender document fee of ₹25,000 (~$293.50) plus 18% GST, and a tender processing fee of ₹300,000 (~$3,522) plus 18% GST. Successful bidders must submit a performance bank guara ...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 >
Kandla (Gujarat) [India], June 5 (ANI): On the occasion of World Environment Day, the Deendayal Port Authority (DPA) Kandla reaffirmed its unwavering commitment to sustainability and joined the global movement to 'Beat Plastic Pollution.' DPA highlighted its ongoing efforts toward building a cleaner, greener maritime ecosystem. These include conserving green cover, embracing renewable energy, and implementing comprehensive green port initiatives--all aligning with the port's long-term vision of environmental stewardship. To mark the day, a tree plantation drive was organised, witnessing enth ...Read More >
New Delhi: A surge in sales may be around the corner for some of India's leading packaged consumer goods makers, as cheaper inputs and lower import duties craft a perfect recipe for their next stage of growth. Companies and analysts alike said that falling prices of wheat, maize, barley and oils will help expand volumes, in a change from the recent experience of pricier products driving revenue. On 31 May, the government halved the basic customs duty on crude soybean oil, crude palm oil, and crude sunflower oil to 10%, eight months after raising it from nil to 20%. The move had prompted pack ...Read More >
As per Moneycontrol's calculations, a 7 per cent growth in the remaining two quarters will put India's GDP at 6.5 per cent. The Indian economy would find it challenging to achieve over 7 per cent growth for the fourth consecutive year, economists said. They pointed out that the second-quarter (Q2) Gross Domestic Product (GDP) data, which was announced on November 29, has made the task even more daunting for the government. "A sharper than expected growth slowdown in Q2 has tilted risks to our outlook of 6.8 per cent for the current fiscal downwards," said DK Joshi, chief economist, Crisil. ...Read More >
New Delhi: Three Indian citizens vanished mysteriously in Tehran. Darkness closed in as hope seemed lost. A ruthless Pakistani gang with potential links to ISI snatched them away, casting a shadow of fear. But relentless Indian diplomats refused to back down. Against all odds, a daring rescue mission ignited. Now, the captives are free, and a chilling game of espionage comes to light. The Punjab-based trio - Amritpal Singh from Hoshiarpur, Jaspal Singh from SBS Nagar and Hushnapreet Singh from Sangrur - had landed in Iran on May 1. Promised a clandestine route to Australia via Dubai and Tehra ...Read More >
CHENNAI: Indian equity markets opened on a strong note Friday, buoyed by the Reserve Bank of India's unexpected 50 basis point repo rate cut, which lifted investor sentiment and sparked a broad-based rally from early lows. The BSE Sensex rose 96 points or 0.12% to 81,538, recovering nearly 350 points from the day's intraday low. Similarly, the NSE Nifty50 gained 29 points or 0.12%, trading at 24,780, as markets welcomed the central bank's proactive move to support growth. Market Highlights The RBI cut the repo rate to 5.50%, exceeding market expectations. Governor Sanjay Malhotra noted that ...Read More >
New Delhi, Dec 12 (PTI) The government on Thursday came out with the definition of green steel and asked the industry to take measures to bring down carbon emissions below the level of 2.2 tonnes on per tonne of finished products. Union Steel Minister H D Kumaraswamy also released a 'taxonomy on green steel' with parameters for giving star ratings on products based on the amount of carbon dioxide (CO2) emitted during the production process. The steel industry has been the backbone of India's industrial growth and it is imperative that this vital sector undergoes a transformative shift towards ...Read More >
New Delhi, Dec 12 (PTI) Terming the 5.4 per cent GDP growth in the second quarter as a "temporary phenomena", FICCI President Harsha Vardhan Agarwal on Thursday said the industry body expects India to achieve 6.5-7 per cent economic growth in the current financial year, while projecting a pick up in private investment. In an interview to PTI, Agarwal, who is also the Vice Chairman & Managing Director of Emami Ltd, said the RBI needs to manoeuvre a "tight-rope balancing act" between inflation and economic growth, as he opined that the central bank has been doing a prudent job. Notably, the FI ...Read More >
Bihar's infrastructure has seen a 15-fold increase in data consumption over the past five years. Road density is now the third highest in India, electricity generation has increased tenfold, and IT parks and data centers are being developed. Numerous bridges and expanded rail lines are improving connectivity and boosting trade.Bihar has seen a 15-fold jump in data consumption in the last five years as the state goes big on developing infrastructure, investing in connectivity and building rail and ...Read More >
NEW DELHI: Former head of Air India and chairman of the Railway Board Ashwani Lohani is the new Prime Ministers Museum and Library (PMML) director. The official order for his appointment was issued on Wednesday. A 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), Lohani is known for turning around various organisations during his illustrious career. Following his retirement from IRSME service, he joined the GMR Group as the CEO. According to the order dated June 4, his appointment to the post of director, Prime Ministers Museum and Library in the rank and pa ...Read More >
The Minister for Information, Communication, Technology and National Guidance, Hon. Chris Baryomunsi has unveiled government plans to extend internet connectivity to all sub-counties through a loan acquired from the Exim Bank of China. Baryomunsi said that with the US$150 million, government will go beyond its ministries, departments, agencies (MDAs) and district headquarters) to connect all sub-counties to the National Backbone Infrastructure (NBI). "This is vital for ensuring that all regions benefit from the digital economy. Last mile connectivity, the final segment connecting the NBI to ...Read More >
News 2 min read Indian IT industry to see 30-35 pc high demand for niche tech roles in 2025 The Indian IT industry is projected to see 30-35 per cent increased demand for highly-specialised tech roles in 2025, along with increased spending on upskilling in the coming years, according to a new report. New Delhi, The Indian IT industry is projected to see 30-35 per cent increased demand for highly-specialised tech roles in 2025, along with increased spending on upskilling in the coming years, acco ...Read More >
New Delhi, Feb 4 (PTI) Finance Secretary Tuhin Kanta Pandey on Tuesday said the government has taken measures to lower fiscal deficit and delivered a non-inflationary Budget, and hoped that the RBI's monetary policy will work in tandem with fiscal policy to support growth. He also said that although rupee depreciation increases inflation on imported inputs, it also adds to export competitiveness. Pandey said that the government has bettered its fiscal deficit projections for the current fiscal as well as the next. The fiscal deficit for FY'25 has been pegged lower at 4.8 per cent of GDP, low ...Read More >
New Delhi: Rare earth magnets, essential for EV motors, have become the latest flashpoint in India's growing electric mobility ambitions. These magnets power the core of Brushless DC (BLDC) and Permanent Magnet Synchronous Motors (PMSM), which drive most electric vehicles today, particularly two-wheelers. With China tightening export controls, Indian automakers now face serious supply-side disruptions. If the situation continues, industry experts warn that EV prices could rise, production could slow and expansion plans may take a hit. In April this year, China imposed an export curb on rare- ...Read More >
Sample of Earth Minerals. (Representative) Quick Read Summary is AI generated, newsroom reviewed. India is negotiating with companies to create long-term rare earth magnet stockpiles. The initiative aims to reduce dependence on China, which controls 90% of magnet processing globally. The government is considering fiscal incentives to boost domestic production of rare earth magnets. New Delhi: India is holding talks with companies to establish long-term stockpiles of rare earth magnets by offering fiscal incentives for domestic production, people familiar with the matter said. Building ...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 >
New Delhi, Feb 7 (VOICE) In a testament to the nation's commitment to a cleaner, greener future, India has achieved a historic milestone by surpassing 100 GW of installed solar power capacity, reinforcing its position as a global leader in renewable energy, the government said on Friday.As of January 31, India's total solar capacity installed stands at 100.33 GW, with 84.10 GW under implementation and an additional 47.49 GW under tendering. This remarkable achievement marks a significant step toward realising the ambitious target of 500 GW of non-fossil fuel-based energy capacity by 2030 set ...Read More >
New Delhi [India], June 5 (ANI): On the occasion of World Environment Day, a website, "Discover Green Hydrogen," was launched by L&T GreenTech. The website focuses on the global clean energy revolution, providing insights, expert analysis, and real-time updates on the rapidly evolving Green Hydrogen industry. Powered by L&T GreenTech, a key division of L&T Energy's Green & Clean Energy Business, the newly launched website reflects L&T's unwavering commitment to sustainability. Also Read | Delhi: High-Level US Team Arrives for Talks on Bilateral Trade Pact With India. This website is designe ...Read More >
New Delhi [India], June 4 (ANI): To meet the country's ambitious 500 GW target, India's renewable sector will need to double its annual capacity addition to 50 gigawatts (GW) over 2025-2030, S&P Global Ratings said in a report. This will mean almost doubling last year's capacity addition of 29GW. The global rating agency said capacity addition will require USD 175 billion and up to USD 150 billion for the expansion and strengthening of the transmission and distribution network. The next five years will be crucial as the country strives to meet its target of 500GW renewable capacity by 2030. ...Read More >
Dec 3 (Reuters) - India's top renewable energy agency said on Tuesday it withdrew its ban prohibiting Reliance Power (RPOL.NS), opens new tab from participating in tenders for clean energy projects after a court directive. Last month, the Solar Energy Corporation of India (SECI) had barred Reliance Power from bidding for its tenders for three years and was weighing criminal proceedings against the company after a bank guarantee turned out to be a fake endorsement. The High Court of Delhi had granted a stay last week on the notice of debarment after the Anil Ambani-owned company challenged th ...Read More >