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: India has decided to import crude oil from Venezuela after a gap of around 11 months. In April, Indian ports are expected to receive about 10 to 12 million barrels of crude oil from the South American country. This comes at a time when global energy markets are facing uncertainty. Move Driven By Supply Concerns The decision comes as tensions in West Asia, especially around the Strait of Hormuz, have disrupted oil supplies. India is now looking at alternative sources to ensure steady supply. According to commodity analytics firm Kpler, this is not just a short-term solution but part of a long-term strategy to diversify oil imports. Experts say the shipments arriving in April were planned earlier, even before the recent crisis. This shows that India had already started preparing for possible disruptions in supply. Why Venezuela Oil Matters Venezuela mainly produces heavy crude oil, which is suitable for India's advanced refineries. Complex refineries like Reliance Industries' Jamnagar refinery and Nayara Energy's Vadinar plant are designed to process high-sulphur crude efficiently. Some shipments may also reach Cochin port, supporting Bharat Petroleum Corporation Limited's refinery operations. Boost For Fuel Production Heavy crude oil helps produce more middle distillates such as diesel and jet fuel. These fuels are currently in high demand globally. By importing Venezuelan oil, India can improve refinery output and meet rising demand for these fuels. Strengthening Energy Security Before US sanctions, Venezuela was an important oil supplier for India. In FY18, it contributed about 6.7% to India's total crude imports. Now, by restarting imports, India is once again strengthening its energy security and reducing dependence on limited regions. This move highlights India's strategy of diversifying oil sources to protect itself from global supply shocks and geopolitical tensions.
Mumbai, June 7 (SocialNews.XYZ) The Nifty Microcap 250 index posted a strong performance in the month of May, rising 12.10 per cent, while the Nifty Smallcap 250 also recorded an impressive 9.59 per cent gain, according to a report released on Saturday. The broader market remained positive throughout the month, with smaller companies leading the rally, said the latest 'Global Market Snapshot' report by Motilal Oswal Asset Management Company. Over the past year, the Nifty Microcap 250 grew by 13.74 per cent, and the Nifty Smallcap 250 gained 7.72 per cent, showing continued investor interest ...Read More >
Mark Carney declined to answer if he believed Indian PM had a role in murder of Sikh activist Hardeep Singh Nijjar Canada's prime minister Mark Carney has defended his decision to invite India's prime minister Narendra Modi to the upcoming G7 summit in Alberta, despite Canada's federal police's conclusion that the murder of a prominent Sikh activist in British Columbia was orchestrated by the "highest levels" of the Indian government. Carney declined to answer reporters' questions over whether ...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, 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 >
New Delhi, Jun 27 (PTI) The higher oil prices triggered by a brief Israel-Iran war have come down, but it is too soon to sound the "all clear" for the rest of the year, said a finance ministry report on Friday. The ministry's monthly economic review also stressed that with no major imbalances in the macro aggregates, a subdued inflation rate combined with a growth-supportive monetary policy stance, India's macroeconomic health is in a relative goldilocks situation. Also Read | UK F-35B Lightning II Stealth Fighter Jet To Be Moved to Thiruvananthapuram Airport's Repair Facility As It Awaits R ...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 [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 >
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 >
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 >
New Delhi, Jun 27 (PTI) Equity investors became richer by Rs 12.26 lakh crore as stock markets surged for the fourth day in a row on Friday amid de-escalation in geopolitical tensions and softening crude oil prices in international markets. On Friday, the BSE benchmark Sensex climbed 303.03 points or 0.36 per cent to reclaim the 84,000 level and settled at 84,058.90. During the day, the Sensex jumped 333.48 points or 0.39 per cent to 84,089.35. Also Read | Ahmedabad Plane Crash Probe: Parliamentary Committee To Grill Boeing and Air India Executives, DGCA Officials; Sources Say 'Multiple Shor ...Read More >
Dozens of two-wheelers skidded on a Hyderabad road after an oil tanker leaking fuel passed from the area. The incident which occurred on Hyderabad's Kushaiguda-Nagaram road left several bikers injured. In a video, which went viral after the accident, men and women were seen sprawled on the road along with their fallen two-wheelers. While some of them are still on the road, others can be seen attempting to pick up their vehicles. "A road stretch between ECIL & Keesara has turned slick due to a diesel spill. Motorists are urged to drive carefully and consider alternate routes to avoid accident ...Read More >
Benchmark indices Sensex and Nifty rallied for the third straight session on Tuesday (December 3, 2024) amid buying in blue-chip stocks like HDFC Bank, Reliance Industries and firm trends in global markets. The BSE benchmark Sensex jumped 597.67 points or 0.74% to settle at 80,845.75. During the day, it surged 701.02 points or 0.87% to 80,949.10. The NSE Nifty went up by 181.10 points or 0.75% to 24,457.15. From the 30-share Sensex pack, Adani Ports surged nearly 6%. NTPC, Axis Bank, State Bank of India, Larsen & Toubro, UltraTech Cement, Tata Motors, HDFC Bank and Reliance Industries were ...Read More >
New Delhi, Dec 12 (PTI) Gold prices climbed Rs 500 to Rs 80,900 per 10 grams in the national capital on Thursday due to persistent buying by retailers and jewellers, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity finished at Rs 80,400 per 10 grams in the previous trading session. The yellow metal has jumped nearly Rs 2,000 in the past three sessions. Silver also rallied Rs 700 to Rs 97,000 per kg on Thursday. The white metal settled at Rs 96,300 per kg in the previous session. The price of gold of 99.5 per cent purity also surged Rs 500 to Rs 80,5 ...Read More >
New Delhi, Jun 27 (PTI) The higher oil prices triggered by a brief Israel-Iran war have come down, but it is too soon to sound the "all clear" for the rest of the year, said a finance ministry report on Friday. The ministry's monthly economic review also stressed that with no major imbalances in the macro aggregates, a subdued inflation rate combined with a growth-supportive monetary policy stance, India's macroeconomic health is in a relative goldilocks situation. The brief Israel-Iran war, followed by the US intervention, pushed the price of crude oil sharply higher, it noted. "Its persis ...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 >
MUMBAI: Warning that business as usual approach to policy reforms will push the economy which is already facing hiccups, to growth stagnation, the economic survey said by reducing the excessive regulatory burdens, governments can help businesses become more efficient, reduce costs, and unlock new growth opportunities. In short, the governments should help the industry rediscover their animal spirits. "Regulations increase the cost of all operational decisions of firms, the survey said outlining a three-step process for the states to systematically review their regulations for their cost-effec ...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 >
Mumbai, Jun 6 (PTI) Benchmark equity indices Sensex and Nifty declined in early trade on Friday ahead of the RBI monetary policy outcome. Moreover, a sluggish trend in global equity markets and fresh foreign fund outflow also drove investors to stay on the sidelines. Also Read | Lucknow Toddler Rape Case: Man Accused of Abduction, Sex Assault of 3-Year-Old Girl Killed in UP During Police Encounter. The 30-share BSE Sensex declined 159.93 points to 81,282.11 in early trade. The 50-share NSE Nifty dropped 27.65 points to 24,723.25. From the Sensex firms, Tata Motors, Bajaj Finance, ICICI Ban ...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 >
Hyderabad: Chief Minister A Revanth Reddy on Thursday warned educational institutions that cases would be booked against them if drugs were found in their premises. The CM announced that the state's Anti-Narcotics Bureau would henceforth be known as Elite Action Group for Drug Law Enforcement (EAGLE) and was tasked with curbing the menace of narcotics in the state. Speaking at an event marking the International Day Against Drug Abuse and Illicit Trafficking 2025 at Shilpakala Vedika here, Reddy placed an onus on educational institutions to ensure their campuses were free of drugs. "It is the ...Read More >
MUMBAI: Corporate India showed signs of renewed vigour in 2024-25, with listed private non-financial companies reporting a sales growth of 7.2%, an improvement from the anaemic 4.7% recorded the previous year. Data from Reserve Bank of India, based on financial statements of 3,902 listed non-government non-financial firms, point to a broad-based if uneven recovery-tempered by rising input costs and tightening margins.Manufacturing companies saw sales climb by 6.0%, up from 3.5% the year before. The uptick owed much to strong performances in automobiles, electrical machinery, food and beverages ...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 >
Stock market today: The Indian stock market clocked healthy gains for the third consecutive session on Tuesday, December 3, led by gains in shares of select heavyweights, including Reliance Industries, HDFC Bank and Larsen and Toubro. Benchmark index Nifty 50 jumped 0.70 per cent to the level of 24,445.80, breaking above its 50 and 100-day exponential moving averages (DEMA). According to Trendlyne, an equity research platform, Nifty 50 is above its 100-day EMA of 24,306 and 50-day EMA of 24,364. However, the index is yet to breach its 50-day and 100-day simple moving averages (SMAs) of 24,643 ...Read More >
DP World has announced an extension of its Carbon Inset Programme after successfully registering more than 150,000 import containers since its inception in January. The programme, which commenced on 1 January 2025, is claimed to be the first initiative of its kind globally, providing cargo owners with 50kg CO2e of carbon credits for each loaded import container processed through DP World's UK terminals. This initiative aims to assist companies in addressing Scope 3 emissions within their supply ...Read More >
New Delhi: Delhi govt has geared up to enforce the ban on refuelling end-of-life vehicles, with plans to station enforcement teams from transport, traffic, and MCD to impound such vehicles.A senior official said that teams would be deployed at fuel stations to monitor the implementation and take action against such vehicles. The teams would be from MCD, the transport department enforcement wing, and traffic.The Standard Operating Procedures (SOP) issued to the pump owners says that there will be "immediate legal action by enforcement teams" when end-of-life vehicles are "identified". This woul ...Read More >
Kolkata, Jun 27 (PTI) The country's engineering exports conceded a marginal fall of 0.82 per cent year-on-year to USD 9.89 billion in May due to a higher statistical base and geopolitical tensions in West Asia, EEPC India said in a statement. According to EEPC, the share of engineering goods in the country's overall merchandise exports increased to 25.53 per cent during this period. India's engineering exports to the US, a top destination among major exporting countries, remained positive in May 2025 with total shipments growing 4.6 per cent to USD 1.74 billion year-on-year. Engineering shi ...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 >