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.
Ludhiana, Apr 9 (PTI) The country's merchandise exports are expected to register a fall of 2-3 per cent in 2025-26 due to global economic uncertainties, aggravated by the West Asia crisis, according to FIEO. Federation of Indian Export Organisations (FIEO) President S C Ralhan said that the crisis may have led to a decline in shipments by 7-8 per cent in March. The joint attack launched by the US and Israel on Iran on February 28 severely disrupted the country's exports to West Asia, pushed up shipping freight, air transport prices and insurance costs. Disruptions in the movement of oil and gas from Middle East countries have also led to an increase in the prices of raw materials such as steel, plastic and rubber, Ralhan said. "Exports are expected to record a fall of 2-3 per cent last fiscal and 7-8 per cent in March," he told reporters here. However, he said that India's goods and services exports are likely to rise by 5-6 per cent. Exports stood at USD 825 billion in 2024-25 (USD 437 billion goods and USD 388 billion services). The final numbers will be released by the commerce ministry on April 15. Ralhan expressed hope that ship movements would resume soon following the ceasefire announcement for two weeks between the US and Iran. He suggested that the government should look into issues such as high interest rates, simplification of advance authorisation redemption, and harmonisation of nomenclature between the Directorate General of Foreign Trade and customs. Advance Authorization Redemption is a term used in India's foreign trade policy (FTP). It is the process of closing or fulfilling an advance authorization licence after meeting its export obligation. Advance authorization allows exporters to import raw materials duty-free on the condition that they will use those inputs to manufacture export products. "We need a rate of interest at par with international standards, which is 2-4 per cent. In India, it is about 8.25 per cent after subsidy and without collaterals, it goes to about 12 per cent," Ralhan said. He added that it would take a few months for exports to stabilise from the West Asia crisis. The announcement of a ceasefire between the US and Iran would provide immediate relief to exporters by easing shipping disruptions, the FIEO President said. The conflict has posed challenges for exporters to ship goods to the Gulf region, with which India had a bilateral trade of USD 178 billion in 2024-25 (USD 56.87 billion exports and USD 121.67 billion imports). The government has rolled out a host of measures to cushion exporters from the impact of the conflict in the Gulf region, a key market for India's exports such as gems and jewellery, rice and pharma, which were valued at about USD 57 billion in 2024-25. The major sectors which are under stress include petroleum products, chemicals and plastics, engineering goods, rice, pharma and gems and jewellery. The six countries in this region are the UAE, Saudi Arabia, Oman, Bahrain, Qatar and Kuwait. The region is the largest agri-export destination for basmati, marine products and fresh produce, he said, adding that air and sea freight costs surged for fresh fruits and vegetables in transit. PTI RR HVA
Pune Airport is set to boost international travel with new daily flights to Dubai and bi-weekly flights to Bangkok, starting October 27. Pune is gearing up to enhance its international flight connectivity with the launch of new routes beginning October 27.The city will soon have a daily flight to Dubai and a bi-weekly service to Bangkok. This announcement was made on Thursday by Murlidhar Mohol, the Minister of State for Civil Aviation. Currently, Pune airport caters to two international destinations. A prominent route from Pune is the well-established Dubai flight, currently operated by Spi ...Read More >
New Delhi [India], December 6 (ANI): After a steep correction in October 2024, where the Nifty 50 index fell around 6 per cent and closed 8 per cent lower than its all-time highs, FII outflows reduced in November, a sharp drop from October outflows says a report by JM Financials. The benchmark index remained largely flat in November, reflecting a calmer trading environment. Foreign Institutional Investor (FII) activity also exhibited a notable slowdown in selling pressure. FII outflows reduced to Rs182 billion (USD 2.2 billion) in November, a sharp drop from Rs919 billion (USD 10.9 billion) ...Read More >
Gurugram, 11 December 2024: Around USD 40 billion of investments are envisaged over the next 5-6 years for the development of Electric Vehicles (EV) & ancillary industries in India. However, the deployment of these funds will rely upon successful implementation of government policies, charging infrastructure ramp-up and domestic manufacturing capacity scale-up. As per Colliers' latest report "EVs in India: Renewed Vigour in Electric Mobility", about two-thirds of the planned investments, can potentially materialize in the lithium-ion battery segment alone. Interestingly, despite slower than an ...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 >
Bhubaneswar, Jan 31 (PTI) The Odisha Vigilance Department on Friday arrested an official of the Integrated Tribal Development Agency (ITDA) of Mayurbhanj district after detecting disproportionate assets in his possession. The arrested official was a project administrator at the ITDA in the district's Bonai area. Also Read | 'Touched Private Parts Pricked With Pen': Tuition Teacher in Nagaur, Rajasthan Sexually Abused Class 2 Girl for 6 Months, Arrested. A case has been registered at the Rourkela vigilance police station against the official and his wife under various sections of Prevention ...Read More >
xternal Affairs Minister (EAM), S. Jaishankar, on Monday, met with the Foreign Minister of Ukraine and discussed the conflict with Russia at the sidelines of the MED Mediterranean Dialogues Conference in Rome, Italy. Apart from Ukraine, EAM Jaishankar met with his counterparts from France, Lebanon, and Croatia as well. On his meeting with the Ukrainian Foreign Minister Andrii Sybiha, the EAM reiterated India's support for "dialogue and diplomacy" to end the long-running conflict. "Good to meet FM of Ukraine @andrii_sybihain Rome today. Useful exchange on advancing our bilateral cooperation. ...Read More >
The chip makers around the world felt the relief of a rumor suggesting that the sales curb to China could be less severe than previously expected. But the news didn't necessarily translate in a strong rally. ASML (NASDAQ:ASML) - Europe's biggest chip equipment maker that predicted a 30% fall to its Chinese revenue next year - closed 0.22% lower yesterday, while Tokyo Electron - which was up by more than 6% yesterday - couldn't extend gains at today's session. With US markets paused for the Thanksgiving break, France was at the heart of the attention yesterday. The political drama, there, only ...Read More >
New Delhi, Dec 31 (IANS) The year 2024 has been historic for Indian startups as the government abolished the angel tax (a tax levied on investing in startups), which improved Indian startups' funding and enabled them to raise more than $12 billion. Along with this, food delivery company Zomato managed to make its place in the Sensex, the index of top companies in the country. Indian startup companies crossed the magical figure of getting $150 billion in funding in 2024. Between 2014 and 2024, new-age tech companies raised more than $151 billion in funding. Startups raised the highest funding ...Read More >
ess than 24 hours after he asserted in Nigeria's Abuja that stepping out of the comfort zone, innovating and creating new paths has now become the very essence of today's India, Prime Minister Narendra Modi on Monday told the gathering of world's most influential leaders converged in Rio de Janeiro for the G20 Summit that the main reason for India's success lies in his government's 'back to basics' and 'march to the future' approach. Addressing the G20 session on 'Social Inclusion and the Fight Against Hunger and Poverty' at the bayside museum of modern art during the two-day 19th G20 Summit, ...Read More >
Mumbai, Jan 22 (PTI) The rupee appreciated 23 paise to close at 86.35 against the US dollar on Wednesday, supported by positive domestic equities and soft American currency index. Forex traders said the rupee is likely to witness high volatility with a negative bias ahead of key events in the global and domestic economic landscape. Moreover, the overall uncertainty about the global economy continued to weigh on both currencies and commodities, keeping investors on edge. At the interbank foreign exchange, the rupee opened at 86.56 against the greenback. During the day, the local unit touche ...Read More >
The global smoke grenade market is expected to grow from $297.24 million in 2023 to $456.46 million by 2031, driven by a 5.5% CAGR. Military, law enforcement, and emergency services are the primary sectors fueling demand, especially for tactical operations, training, and crowd control. Advances in technology have led to safer, more effective smoke grenades, while commercial uses in activities like paintball and film production are rising. Environmental concerns are promoting the development of eco-friendly products. North America leads the market, with rising military expenditures further boos ...Read More >
Trump warns BRICS nations against replacing US dollar Dec 2 (Reuters) - A gauge of emerging market stocks rose on Monday, driven by positive manufacturing data from China and expectations of continued policy support from Beijing, while India's rupee hit a record low because of weaker-than-expected economic data. As of 0932 GMT, the MSCI's index for emerging market stocks had risen by 0.7%, on track for its biggest percentage gain in over three weeks. China's blue-chip CSI 300 climbed 0.8%, and the Shanghai Composite index jumped 1.1% after a private survey indicated that Chinese factory act ...Read More >
Kolkata, Dec 6 (PTI) Air India Express, the budget-carrier arm of Air India, is embarking on a significant expansion by increasing its fleet size and introducing new routes, as passenger growth remains robust. The airline, however, has deferred plans to launch direct flights between Kolkata and Dhaka, citing the ongoing political crisis in Bangladesh. "You would recall we had announced our operational plan for Dhaka, which is a new and significant market for us. But because of the situation there, we have deferred those plans," Aloke Singh, Managing Director of Air India Express, said. "As ...Read More >
Gurugram (Haryana) [India], December 12: Navanc, a pioneering FinTech startup building India's first AI-powered property score and stack for secured lending and insurance practices, has successfully raised USD 1 million in a seed funding round. The round was led by Prarambh Ventures, with participation from Inflection Point Ventures (IPV), Brigade REAP FirstPort Capital, and marquee angel investors Also Read | US: Joe Biden Commutes Roughly 1,500 Sentences and Pardons 39 People in Biggest Single-Day Act of Clemency. The funds will be directed toward expanding operations across India, with a ...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 >
Chennai: The capacity utilisation of the domestic steel industry is set to drop to 78 per cent for the first time in four years. In order to check unprecedented imports, the government is considering imposing a 25 per cent duty on steel imports. Cheaper imports from China and countries under Free Trade Agreement along with ongoing capacity addition can lead to capacity utilisation of domestic steel mills dropping from 85 per cent in FY2024 to an estimated 78 per cent in the current fiscal, the lowest we have seen in the last four years. The domestic steel industry witnessed an all-time high ...Read More >
New Delhi, Dec 18 (PTI) Gold prices fell Rs 200 to Rs 79,100 per 10 grams in the national capital on Wednesday amid a firm trend in international markets, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity settled at Rs 79,300 per 10 grams in the previous session. Snapping a three-day losing run, silver climbed Rs 500 to Rs 92,000 per kg on Wednesday. It closed at Rs 91,500 per kg on Tuesday. In the last three sessions, the white metal plunged Rs 5,500 per kg. The price of gold of 99.5 per cent purity slipped Rs 200 to Rs 78,700 per 10 grams from the ...Read More >
New Delhi, Jan 2 (PTI) Stakeholders from the electric vehicle (EV) sector will hold a meeting with Commerce and Industry Minister Piyush Goyal here on January 3 on issues, including infrastructure related to charging and battery swapping, sources said. They said that officials from the Department of Heavy Industries are expected to attend the meeting. Also Read | SOF NSO Results 2024-25 Out at sofworld.org: National Science Olympiad Exam Result Released, Get Direct Link and Know Steps To Download. Representatives from Tata, Mahindra, Mercedes-Benz India, Hero MotoCorp, and other companies h ...Read More >
Rupee has maintained its position as one of the best performing Asian currencies, despite the ongoing challenges and geopolitical crisis in the Middle East. Pankaj Chaudhary, Minister of State for Finance on Monday said that this stance indicates India's strong economic fundamentals. In a written reply in the Lok Sabha, he mentioned that Rupee's is market-determined, not limited to any target or specific level. He noted that, as of November 19, 2024, the domestic currency had dropped 1.4 percent against the US dollar in the current calendar year (CY) 2024 and decline was primarily driven by ...Read More >
Since our last publication, the higher risk-sensitive EUR/CHF cross pair has wobbled as it grappled with the Eurozone's economic weakness and a looming unfavorable external trade environment due to further global supply chain disruptions due to incoming US President-elect Trump's 10% to 20% tariffs threat on other countries' exports to the US, inclusive of the Eurozone. The EUR/CHF inched lower in the week of 18 November (ex-post US Presidential election outcome on 6 November) and retested a key intermediate support of 0.9255, a key swing low made almost a year ago on 29 December 2023. Fig 1 ...Read More >
New Delhi: Aviation watchdog DGCA will soon come out with streamlined regulations for wet-leasing of planes by Indian airlines that will also entail enhanced oversight of the aircraft, amid airlines looking to operate more planes to meet rising travel demand. With persisting supply chain woes, there is a delay in aircraft deliveries and to meet the near-term needs, carriers are opting for planes on dry and wet leases. A senior official in the know told PTI that the efforts are on to streamline the regulations for wet-leasing of planes to assist in the growth of the aviation. "Realities of the ...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, Dec 13 (PTI) The Supreme Court on Friday granted conditional future bail to former West Bengal minister Partha Chatterjee in a money laundering case related to the cash-for-job scam. A bench of Justices Surya Kant and Ujjal Bhuyan said that Chatterjee shall be released on February 1, 2025 subject to the trial court framing charges before the winter vacation and examination of vulnerable witnesses by the second and third week of January 2025. The top court said upon his release Chatterjee shall not hold any public office but can continue as MLA. The bench said that a suspect canno ...Read More >
VMPL New Delhi [India], December 18: Five months after the launch of the "Go Green with Taiwan" project by Taiwan International Trade Administration (TITA) and Taiwan External Trade Development Council (TAITRA), and after receiving a total of 396 proposals from 45 countries around the world, the most exciting part is finally here. On December 9, 2024, the Top 5 finalists went on an all-expense paid trip to Taiwan where they presented their entries and convinced a distinguished panel of experts and judges from Taiwan that their entries can and will help change the way we live and establish a ...Read More >
New Delhi, Dec 18 (PTI) Reliance Nippon Life Insurance, a subsidiary of debt-ridden Reliance Capital (RCAP), has initiated talks with IndusInd Bank for bancassurance partnership as the IIHL and RCAP deal has reached the final lap. Mauritius-based IndusInd International Holdings Ltd (IIHL), the parent entity of IndusInd Bank, won the bid to acquire RCAP and entities under it. Also Read | Cancer Vaccine Ready for Use, Announces Russia; What Is the Cost? How Effective Is It? When Will It Be Available?. "IIHL and Japan-based Nippon Life have struck a good understanding and they are absolutely c ...Read More >
Mumbai, Dec 18 (PTI) Private equity and venture capital (PE/VC) funds invested USD 4 billion in November, which was 156 per cent higher than the year-ago period but lower about 15 per cent compared with the preceding month, a report said on Wednesday. The month saw 87 deals -- 47 per cent higher than the 59 transactions in November 2023, as per the report by industry lobby grouping IVCA and consultancy firm EY. "While 2024 had started off on a strong note, geopolitical tensions, uncertainty over US elections outcome, and inflation weighed on the markets, as did the bid-ask spread between sel ...Read More >
New Delhi, Jan 27 (PTI) LT Foods, a leading player in the basmati and speciality rice segment, on Monday posted 4.75 per cent drop in consolidated net profit at Rs 145.38 crore on higher expenses. The company had logged a net profit of Rs 152.64 crore in the year-ago period. Total income rose to Rs 2,288.25 crore from Rs 1,949.68 crore in the corresponding period of the previous year, according to a regulatory filing. Expenses rose to Rs 2,094.42 crore from Rs 1,757.67 crore. The Board reappointed Ashwani Kumar Arora and Surinder Kumar Arora as Managing Directors of the company, subject to ...Read More >
New Delhi, Nov 28 (PTI) Coworking firm Incuspaze, which provides managed flexible office spaces to corporates, is looking to raise USD 25 million (over ₹210 crore) to expand its business across major cities before planning to launch its Initial Public Offer (IPO). Established in 2016, Incuspaze has a presence in 44 locations across 18 cities with a total portfolio of 40 lakh square feet. "We plan to add another 2 million (20 lakh) square feet in our portfolio by the end of December 2025," Incuspaze founder and CEO Sanjay Choudhary told PTI. In view of the growing demand for flexible workspa ...Read More >
NewsVoir Gurugram (Haryana) [India], December 12: Navanc, a pioneering FinTech startup building India's first AI-powered property score and stack for secured lending and insurance practices, has successfully raised USD 1 million in a seed funding round. The round was led by Prarambh Ventures, with participation from Inflection Point Ventures (IPV), Brigade REAP FirstPort Capital, and marquee angel investors The funds will be directed toward expanding operations across India, with a focus on strengthening Navanc's presence in urban and semi-urban areas. Additionally, the startup will bolster ...Read More >
New Delhi, Dec 13 (PTI) Subscribers of the retirement fund body EPFO may soon be able to withdraw money from their accounts through ATMs, a top official said. Union Labour Secretary Sumita Dawra has reportedly stated in a media report that the labour ministry is upgrading information technology infrastructure to provide enhanced services to the Indian workforce. She further said that claimants, beneficiaries or insured individuals will be able to access their claims through an ATM. According to the media report, the withdrawal will be capped at 50 per cent of the Employees' Provident Fund ( ...Read More >