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.
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 due to the India-Pakistan conflict. This was further compounded by softening demand for entry-level models, as per FADA. In terms of segment-wise performance, two-wheeler remained the best category registering a rise of 7.3 per cent on a year-on-year basis at 16.52 lakh units, followed by three-wheeler which registered a rise of 6.2 per cent at 1.04 lakh units. The tractor segment registered a gain of 2.7 per cent on yoy basis at 71,992 units. However, commercial vehicles declined by 3.1 per cent, FADA said. FADA President CS Vigneshwar said the PV segment suffered due to "Elevated inventory days and subdued consumer sentiment-particularly in entry-level models-compounded by war-related tensions for border-state (J&K, Punjab, Rajasthan, Gujarat) and margin-money challenges and healthy bookings offset by weak retail conversions." But the robust semi-urban/rural demand driven by auspicious marriage dates, strong Rabi harvest, and pre-monsoon pull helped the two-wheeler segment to register a year-on-year rise. FADA has projected that global supply-chain headwinds like rare-earth constraints in EV components, geopolitical tensions may limit urban consumer sentiment and exert cost pressure. "Additionally, monsoon forecast 106 per cent of LPA signals renewed rural liquidity and stronger farm incomes, supporting 2W/trac traction in semi-urban and hinterland markets," FADA said.
Srinagar, Nov 27 (UNI) Jammu and Kashmir's Road Transport Corporation (RTC), a crucial backbone of public transportation, has raised serious concerns over the barring of its buses from entering Srinagar city limits. The move has triggered alarm within the Corporation, with officials cautioning about significant disruptions to public transport services and daily commutes, alongside substantial financial losses for the RTC. The restriction, in effect since November 4 when the maiden session of the Assembly commenced, is causing a daily revenue loss of Rs. 4 lakh to the Corporation. In a lette ...Read More >
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 >
SOLAPUR, India (Reuters) - India is likely to produce a record amount of sugar in the next marketing year from October after millions of farmers expanded cane cultivation, encouraged by ample water supplies and declining prices of competing crops, farmers and industry officials told Reuters. The rebound in production would allow the world's second-largest sugar producer to resume exports in 2025/26, they said, after a lack of rain cut cane yields and led to two years of restrictions. Indian exports could cap global sugar prices, traders said, by increasing supplies in the world market at a t ...Read More >
NEW DELHI (Reuters) - India's retail inflation eased in November as soaring vegetable prices moderated, boosting expectations of an interest rate cut by the central bank at its next policy review amid concerns around slowing growth. Retail inflation eased in November to 5.48%, lower than 6.21% in the previous month and below a 5.53% forecast by economists in a Reuters poll. Food inflation slowed down to 9.04% from 10.87% a month earlier. Food accounts for nearly half of the consumption basket. Vegetable prices rose 29.33% in November from a year earlier after rising 42.18% in October. Indi ...Read More >
Mumbai: The birth of three penguin chicks at Mumbai's Veermata Jijabai Bhosale Udyan and Zoo has sparked an unexpected row not over their care, but their names. BJP functionary Nitin Bankar from the Byculla Assembly constituency has objected to the chicks being given English names, insisting they be named in Marathi instead. The BMC is expected to respond by June 10, after which Bankar will decide his next move. Speaking to The Free Press Journal, Bankar said, "When penguins were brought from abroad, we accepted that their names would be in English. But these chicks were born on the soil of M ...Read More >
New Delhi: The Enforcement Directorate (ED) on Friday carried out searches at 15 places in Mumbai and Kochi in connection with the Mithi River desilting scam that caused a wrongful loss of more than Rs 65 crore to the Brihanmumbai Municipal Corporation (BMC), official sources said. The massive crackdown is underway at the premises across Mumbai and Kochi linked to the accused and suspects as part of an ongoing probe into alleged financial irregularities. According to the sources, the searches are being carried out under the provisions of the Prevention of Money Laundering Act (PMLA) at locat ...Read More >
The BE 6e, just as its name sounds, stands out as a futuristic, power-packed, and sporty electric Mahindra SUV on Indian roads. The highly anticipated Mahindra BE 6e, an all-electric compact SUV, has been finally launched at an introductory price of Rs 18.9 lakh (ex-showroom). Globally revealed alongside its sibling, the XEV 9e, this born-electric offering from Mahindra seems to be good enough (on-paper) to position itself as India's answer to luxury compact SUVs from global brands. With its futuristic design, a wealth of modern features, and an impressive power output - the highest in its fa ...Read More >
The financial repercussions of Parliament disruptions are considerable, impacting both public resources and the productivity of the nation's legislative process. However, both the Lok Sabha and Rajya Sabha have cumulatively functioned for merely 2 hours, with daily disruptions and sloganeering resulting in adjournments. The Rajya Sabha faced disruptions today (December 2) as Vice Chairman Jagdeep Dhankhar expressed discontent over sloganeering by Opposition MPs. The protests, which centered around demands for discussions on key issues, forced the Vice Chairman to adjourn the session until 12 ...Read More >
Mumbai: The death toll in Monday's BEST bus crash rose to seven and the number of injured to 42 even as the driver, Sanjay More, booked for culpable homicide not amounting to murder, claimed he had noticed a spark and mistakenly accelerated the bus instead of applying brakes. Seeking More's custody, police said they want to investigate if he intentionally used the vehicle as a weapon. The bus on Route 332 had accelerated on a congested 200m stretch near Kurla station hitting vehicles and pedestr ...Read More >
New Delhi, Jan 14 (PTI) Wheat sowing increased by 1.38 per cent year-on-year to 320 lakh hectare so far in the ongoing 2024-25 rabi season, according to the agriculture ministry data released on Tuesday. Wheat, the main rabi (winter) crop, was sown in 315.63 lakh hectare in the year-ago period. Sowing of most rabi crops is nearing end. Harvesting will begin from April. According to the data, pulses' acreage remained flat at 139.81 lakh hectare as on January 14, compared to 139.11 lakh hectare in the year-ago period. Gram was covered in 96.65 lakh hectare and lentil in 17.43 lakh hectare. ...Read More >
PRNewswire New Delhi [India], January 21: SWITCH Mobility Ltd, a part of the Hinduja Group, has unveiled the SWITCH IeV8, a revolutionary electric light commercial vehicle (eLCV) in the 7.2T category catering to mid-mile logistics. Designed with sustainability and operational efficiency at its core, the SWITCH IeV8 is set to transform the logistics sector in India. * H. D. Kumaraswamy, Minister of Heavy Industries and Steel, unveils the SWITCH IeV8, an electric light commercial vehicle (eLCV) designed for mid-mile logistics, at the Bharat Mobility Expo 2025 The SWITCH IeV8, a robust additio ...Read More >
New Delhi [India], May 19 (ANI): Union Agriculture Minister Shivraj Singh Chouhan on Monday said that his ministry's resolve is to increase the Kharif crop production while reducing the production cost. He added that the synergy between the agricultural research and the farmers will be increased. The Minister was speaking to reporters here after a meeting with the State agricultural ministers. "Today, I held a meeting with the Agriculture ministers of all the states...Agriculture is important for the country, whether it is a question of livelihood, employment, contribution to the economy or ...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: 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 >
Heavy rains across Tamil Nadu have led to school closures in several districts, including Chennai, on Thursday. The India Meteorological Department (IMD) has issued a yellow alert, predicting moderate rains and light thunderstorms in parts of the state. Rainfall figures show significant precipitation in multiple areas. Meanwhile, Northern India braces for a cold wave beginning December 9, with the IMD forecasting plunging temperatures in Rajasthan, Punjab, Haryana, and Uttar Pradesh.Schools acros ...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 >
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 >
Mumbai, June 6: RBI Governor Sanjay Malhotra on Friday announced a jumbo 50 basis points cut in the repo rate from 6 per cent to 5.5 per cent to spur growth in the economy, as inflation has come down below the lower RBI band of 4 per cent. The RBI Governor also announced a 100 basis points CRR cut, effective in four equal tranches of 25 basis points starting from September 6, October 4, November 1 and November 29. The step is expected to inject Rs 2.5 lakh crore into the banking system, boosting liquidity and supporting credit flow. A lower policy rate leads to a decline in interest rate on b ...Read More >
Mahindra's total sales volumes stood at 79,083 in November 2024 with the company's SUV lineup making up a major share of 46,222 units Mahindra has released its sales data for November 2024. Sales of the company's passenger vehicles have improved to 46,222 units which was a 15.16% YoY growth from 39,981 units sold in Nov 2023. This related to a 6,241 unit volume growth. MoM sales however fell by 15.20% when compared to 54,504 units sold in Oct 2024 relating to a decline by 8,282 units. The company has just released two Electric Origin SUVs called the BE6e and XEV9e. Both these models are buil ...Read More >
Mumbai, Dec 11 (PTI) Murugappa Group-run TCI Clean Mobility subsidiary TIVOLT Electric Vehicles on Wednesday said it has signed a pact with EV charging solutions provider Tata Power Renewable Energy Limited (TPREL) to build a charging ecosystem for its electric commercial vehicles. Under the collaboration, Tata Power Renewable Energy will bring its extensive experience in setting up and managing an expansive EV charging infrastructure at strategic locations across the country to TIVOLT dealerships, customer locations, and high-traffic public spaces, the company said in a statement. "This str ...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 >
Guwahati, June 5 (SocialNews.XYZ) The flood situation in Assam marginally improved on Thursday, while the situation further improved in other northeastern states, an official said. With two more fresh deaths in Assam, the death toll in seven states, excluding Sikkim, of the region increased to 48. According to the disaster management officials of different northeastern states, out of 48 deaths during the current spell of rain and floods since May 29, at least 21 people died in Assam, followed by 12 in Arunachal Pradesh, six in Meghalaya, five in Mizoram, two in Tripura and one each in Nagalan ...Read More >
The XEV 9e is fast and even in the lower range mode feels smooth along with lots of performance.Source : Somnath Chatterjee Electric cars are different and Mahindra has thrown everything at their new range of EVs in terms of a new electric architecture along with specifications normally seen on luxury cars. The XEV 9e based on the Inglo platform is the bigger and more premium EV which starts at Rs 21.9 lakh while coming with two battery pack options- 59 and 79kwh. The 79 kwh battery pack means 656 km range and 284 bhp which means 0-100 km/h is just 6.8 seconds. The big XEV has lots of road p ...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 >
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 >
New Delhi, Jan 2 (PTI) The initial public offer of Indo Farm Equipment garnered a whopping 227.57 times subscription on the closing day of bidding on Thursday. The Rs 260-crore initial share sale received bids for 1,92,75,49,293 shares against 84,70,000 shares on offer, according to NSE data. The portion for non-institutional investors fetched a mammoth 501.65 times subscription. The quota for Qualified Institutional Buyers (QIBs) received 242.40 times subscription while the category for Retail Individual Investors (RIIs) got subscribed 101.64 times. The IPO of Indo Farm Equipment got subsc ...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. Representatives from Tata, Mahindra, Mercedes-Benz India, Hero MotoCorp, and other companies have been invited to the deliberations, they added. Earlier in March last year, the government rolled out an electric-vehicle policy, under which duty ...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 >
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 >