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.
India's electric vehicle (EV) sector is facing a major hurdle due to China's restrictions on the export of rare earth metals. These materials are key components in the production of EV motors, and their restricted import from China has made things difficult for several Indian companies. The issue was highlighted in a recent report by Jefferies, which warned that this could severely impact motor production and jeopardize the entire supply chain.
India's Ministry of Corporate Affairs (MCA) has announced an ongoing investigation into three electric vehicle (EV) manufacturers for allegedly availing government subsidies fraudulently. The total sum in question amounts to approximately Rs2.97bn (about $35m). The firms under scrutiny, Hero Electric Vehicles, Benling India Energy and Technology, and Okinawa Autotech; they are accused of violating guidelines tied to FAME II. FAME II was launched in 2019 by India's Ministry of Heavy Industries (MHI), that aimed to promote local EV manufacturing and drive electrification in India. It is mainl ...Read More >
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 >
New Delhi: Commerce and industry minister Piyush Goyal on Thursday urged the energy storage companies to cut dependency on imports from certain countries and explore alternate sources of supply. He also suggested the industry to focus on research and development for creation of innovative products. "We must work to prevent distortions. We must reduce our dependency on particular geographies and look at alternative sources of supply, where we can have resilience in our supply chain," Goyal said at an event on energy storage. "The industry should look at newer technologies to cut over-dependenc ...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 >
Ranchi (Jharkhand) [India], August 4 (ANI): The Jharkhand government declared a three-day state mourning, starting Monday, following the passing of the state's former Chief Minister and co-founder of Jharkhand Mukti Morcha, Shibu Soren. "In honour of the late Honourable former Chief Minister-cum-Rajya Sabha MP, the State Government has decided to observe 03 (three) days of state mourning from August 4 to August 6," the message from the Jharkhand government read. Also Read | Kerala Shocker: 47-Year-Old Man Dies by Suicide After Failing to Arrange Funds for Son's Engineering College Admission. ...Read More >
New Delhi, Jun 6 (PTI) The incentive scheme for recycling of critical minerals, such as copper, lithium, nickel, cobalt and rare earth elements, is in the final stages, a mines ministry official said on Friday. The Union budget has allocated Rs 1,500 crore for recycling of critical minerals under the National Critical Mineral Mission (NCMM), Joint Secretary in Mines Ministry Dinesh Mahur said during an event here. He said, "the incentive scheme for recycling is in its final stages." Earlier, the government had approved a Rs 16,300-crore National Critical Mineral Mission, envisaging a total o ...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, Jul 11 (PTI) Inter-ministerial consultations are underway for a ₹1,345-crore scheme to subsidise production of rare earth magnets in India with two select manufacturers proposed to be given incentives, Union Heavy Industries Minister H D Kumaraswamy said on Friday. The proposed scheme comes in the wake of China restricting exports of rare earth magnets that has hit global supplies, impacting EV makers, including in India. It will provide end-to-end support for conversion of rare earth oxides into magnets. The proposal may be sent to the Union Cabinet for approval once the inter-m ...Read More >
Rare Earth Elements (REEs) are a group of 17 chemically similar metallic elements that are essential for modern technologies, including smartphones, electric vehicles, and wind turbines President Droupadi Murmu said on Friday that India should achieve self-reliance in production of rare earth elements, given the current geopolitical situation. This would help India achieve its target of becoming a developed nation and play an important role in ensuring the security of the country, Murmu said while speaking at the National Geoscience Awards 2024 here. "Seeing the current geopolitical situati ...Read More >
New Delhi: The Indian auto industry has clocked its highest-ever wholesales for any October, with all major segments, passenger vehicles, two-wheelers, and three-wheelers registering record despatches. This sharp uptick was driven by festive demand during Navratri and Diwali, along with the impact of reduced Goods and Services Tax (GST) rates that kicked in late September. As per the latest data from the Society of Indian Automobile Manufacturers (SIAM), strong dealer push across urban and rural markets helped vehicle makers hit new highs in despatch volumes. Passenger vehicles (PVs) emerged ...Read More >
New Delhi: The Ministry of External Affairs (MEA) said that India is in touch with China on several economic and trade issues, including the supply chain issue of rare earth materials. Addressing a weekly briefing on Thursday, Jaiswal said, "On trade issues on rare earth, yes, we have been in touch with the Chinese side, both in Delhi and also in Beijing, and we have been talking to them as to how we can streamline the supply chain issue on rare earths." "We are in touch with the Chinese side on several economic and trade issues, as and when anything is required," he added. Meanwhile, commerc ...Read More >
Chennai: The auto component industry's trade surplus increased to just short of half a billion dollars in FY25 as exports overtook imports for the second year in a row. According to the latest data from the Automotive Component Manufacturers Association of India (ACMA), the trade surplus was $453 million in FY25 up from $300 million FY24. Auto parts exports at just under $23 billion are up 8% while imports at $22.4 billion are up 7%.Exports have nearly doubled from just over $13 billion in FY21. In FY25 top growth regions were CIS and Baltics (up 35.4%) followed by Latin America (up nearly 21% ...Read More >
New Delhi [India], August 14 (ANI): India's overall trade deficit (merchandise and services combined) widened to USD 11.72 billion in July 2025, up from USD 10.10 billion in the same month last year, driven by a sharper rise in imports than exports, according to the data released by the Commerce & Industry Ministry.The data shows that the overall exports stood at USD 68.25 billion in July 2025, marking a growth from the same month of the previous year at USD 65.31 billion.On the other hand, imports of the country grew at a faster pace, reaching USD 79.99 billion compared with USD 75.41 billion ...Read More >
Bengaluru : TVS Motor Company recorded monthly sales of 402,001 units in June 2025 with a growth of 20% as against 333,646 units in the month of June 2024. Two-Wheeler Total two-wheelers registered a growth of 20% with sales increasing from 322,168 units in June 2024 to 385,698 units in June 2025. Domestic two-wheeler registered growth of 10% with sales increasing from 255,734 units in June 2024 to 281,012 units in June 2025. Motorcycle registered a growth of 24% with sales increasing from 152,701 units in June 2024 to 188,774 units in June 2025. Scooter registered a growth of 26% with sale ...Read More >
MUMBAI - Tesla will open its first India showroom in Mumbai on July 15, having imported US$1 million (S$1.3 million) worth of cars and merchandise, marking its entry into the world's third-largest car market despite CEO Elon Musk's complaints about high import tariffs. Grappling with excess manufacturing capacity at its other factories and falling sales, Tesla has pivoted to selling imported cars in India on which it will need to pay about 70 per cent import duty and other levies. Indian Prime Minister Narendra Modi's government has for years wooed Tesla, including forming a new policy to at ...Read More >
India's semiconductor market is projected to more than double, reaching $100-110 billion by 2030, up from $45-50 billion in 2024-25. A government statement highlighted the urgency to build secure, diversified chip supply chains amid global reliance on Taiwan. India aims to become a trusted global hub, backed by ₹76,000 crore in incentives and over ₹1.55 lakh crore in industry investments. India's semiconductor market is expected to more than double to grow in the range of USD 100-110 billion ...Read More >
Thoothukudi, India. Vietnam's Vinfast on Monday began production at a $500 million electric vehicle plant in southern India's Tamil Nadu state, part of a planned $2 billion investment in India and a broader expansion across Asia. The factory in Thoothukudi will initially make 50,000 electric vehicles annually, with room to triple output to 150,000 cars. Given its proximity to a major port in one of India's most industrialized states, Vinfast hopes it will be a hub for future exports to the region. It says the factory will create more than 3,000 local jobs. The Vietnamese company says it scou ...Read More >
New Delhi: The country's largest carmaker Maruti Suzuki has announced the rollout of its first made-in-India electric vehicle - the e-Vitara SUV - in a major boost to the green segment from its upgraded Gujarat plant, which is now set to become one of the world's largest automotive manufacturing hubs with a projected annual capacity of one million units. Crucially, this facility will serve as Suzuki's global production base for electric vehicles (EVs), exporting to over 100 countries, including advanced markets in Japan and Europe, which is aligned with India's vision of becoming a global aut ...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 >
Mumbai (Maharashtra) [India], July 3 (ANI): In a major move to boost industrial development and job creation in Maharashtra, the Cabinet Sub-Committee on Industries, chaired by Chief Minister Devendra Fadnavis, today approved investment proposals worth Rs 1,35,371.58 crore in thrust sectors and high-technology-based industries. These projects are expected to generate around 1 lakh direct and indirect employment opportunities across the state. Also Read | 'I Will Come Again': Man Posing As Delivery Agent Rapes Woman Techie After Entering Her Pune Flat, Clicks Selfie and Leaves Threatening Mes ...Read More >
New Delhi [India], August 14 (ANI): India overall trade deficit (merchandise and services combined) widened to USD 11.72 billion in July 2025, up from USD 10.10 billion in the same month last year, driven by a sharper rise in imports than exports, according to the data released by the Commerce & Industry Ministry. The data shows that the overall exports stood at USD 68.25 billion in July 2025, marking a growth from the same month of the previous year at USD 65.31 billion. On the other hand, imports of the country grew at a faster pace, reaching USD 79.99 billion compared with USD 75.41 billi ...Read More >
While overall deal volumes remained stable compared to the previous quarter, values spiked sharply due to large-ticket strategic acquisitions. New Delhi: India's automotive sector recorded its strongest quarter in over a year, with 30 transactions valued at $4.6 billion in Q3 2025, according to the Grant Thornton Bharat Q3 2025 Automotive Dealtracker. The surge in deal value was largely driven by Tata Motors' $3.8 billion acquisition of Iveco S.P.A., marking one of the largest outbound automotiv ...Read More >
New Delhi [India], June 6 (ANI): The Federation of Automobile Dealers Associations (FADA) on Friday released vehicle retail data for May, which revealed a modest rise of 5 per cent as compared to the same month last year. Segment-wise, two-wheeler was the best category, which performed, registering a rise of 7.3 per cent on a year-on-year basis, followed by three-wheeler (rise of 6.2 per cent), and the tractor segment registered a gain of 2.7 per cent on yoy basis.On the flip side, the Passenger Vehicle segment, Construction Equipment, and Commercial Vehicle declined by 3.1 per cent, 6.3 per c ...Read More >
India Cellular and Electronics Association (ICEA) in a letter to the Ministry of Electronics and IT said that the import restriction has brought in uncertainty in the efforts of industry to scale up domestic electronics manufacturing.Source : Freepik India's electronics manufacturing sector, which has been struggling with China's restrictions on rare earth magnet exports, faces a double whammy with import curbs on gold compound -- a key raw material. Rare earth magnets have diverse utility ranging from computer chips and electronic components to electric vehicles, wind turbines, and medical ...Read More >
THOOTHUKUDI, India (Reuters) -- Vietnamese electric vehicle maker VinFast is in talks with several component manufacturers as it looks to source more from India, the company's Asia CEO said on Monday. The firm is in discussions with several of its current component suppliers, and some want to shift part of their production to an industrial park in India, VinFast Asia CEO Pham Sanh Chau told Reuters on the sidelines of the inauguration of its Indian plant in the southern city of Thoothukudi. Global manufacturers are increasingly looking to diversify their supply chains by shifting production ...Read More >
Brescia: India and Italy Thursday cautioned against some countries' dominance on critical minerals and how the over-dependence on these key components of semiconductor, aerospace industry and EV batteries can be reduced. Commerce and industry minister Piyush Goyal said the concentration of critical minerals and their supply chains in a few geographies can hurt economic development of countries while Italian Deputy Prime Minister and foreign minister Antonio Tajani said the private sector of the two countries can consider forming joint ventures in this segment. The concerns assume significanc ...Read More >
PUNE: Automobile dealers clocked a modest rise of 5 per cent year-on-year to 22.12 lakh units in the retail sale of total vehicles in May, buoyed by healthy two- and three-wheeler sales. However, passenger vehicle (PV) sales bucked the trend, slipping 3.1 per cent as rising inventory and cautious consumer behaviour signalled a pause in demand recovery, the Federation of Automobile Dealers Associations or FADA data showed on Friday. The PV registrations last month stood at 3,02,214 units, as compared to 3,11,908 units in May 2024. FADA said that customers delayed purchases in several states d ...Read More >
New Delhi, Jun 27 (PTI) The government, industry and academia are working to resolve the issues concerning rare earth magnets, which are used in the automobile sector and other devices, a senior Meity official said on Friday. The technology exists to make rare earth magnets but to produce them at a commercially competitive rate is a challenge, Ministry of Electronics and IT, Additional Secretary, Amitesh Sinha said. Speaking on the sidelines of the Tec-Verse event showcasing PSU technology research, Sinha said that to solve the issues concerning rare earth, all three partners - government, i ...Read More >
New Delhi: Commerce and industry minister Piyush Goyal on Thursday urged the energy storage industry to reduce dependence on imports from certain countries, explore alternative sources of supply and focus on research and development for creation of innovative products. "We must work to prevent distortions. We must reduce our dependency on particular geographies and look at alternative sources of supply, where we can have resilience in our supply chain," he said at the 11th India Energy Storage Week. Goyal said the industry should look at newer technologies to cut overdependence on imports an ...Read More >