India, being one of the fastest-growing economies in the world, has always been in the limelight when it comes to business news. The year 2021 has been no exception, as we have seen many new developments in various sectors and industries. In this article, we will delve into some of the most-read business news in India in 2021.
Covid-19 Pandemic: The Ever-Present Topic
The ongoing Covid-19 pandemic has been the talk of the town for the past two years. The second wave of the pandemic hit India hard, leading to a significant economic slowdown. The government announced several relief measures for small businesses, including extended loan moratoriums and tax relaxations. Additionally, vaccination drives have boosted consumer confidence, leading to a boost in several sectors such as healthcare, education, and hospitality.
Crypto Ban in India
In March 2021, the Indian government proposed a bill that would effectively ban all cryptocurrencies, including Bitcoin. The rationale behind this move was to prevent the illegal use of digital currencies for criminal activities such as money laundering and terrorism financing. The move was not well-received by the crypto community, and several petitions were filed in the court to challenge the decision. As of now, the bill is still under discussion, and the final decision is yet to be made.
Tesla in India
In January 2021, Tesla announced its entry into the Indian market with a registered entity in Bangalore. The news was welcomed by the Indian automotive industry, and it was seen as a significant boost to India’s goal of becoming a leading electric vehicle market. Tesla is planning to set up a manufacturing plant in India, which will be a game-changer for the Indian manufacturing sector.
Farm Bills and Farmer’s Protest
The Indian government passed three Farm Bills in September 2020, which aimed to reform the agricultural sector and provide better price realizations for farmers. However, the passing of these bills led to widespread protests among farmers, who believed that the bills would reduce their bargaining power, leading to a loss of income. The protests gained international attention, and several famous personalities spoke in support of the farmers’ cause. The government has been in talks with the farmers’ unions, but a resolution has not been reached yet.
Conclusion
The business news in India has been eventful in 2021, with several developments in various sectors. The ongoing Covid-19 pandemic has played a significant role in shaping the business landscape. We have seen some controversial decisions, such as the proposed cryptocurrency ban, and some promising developments, such as Tesla’s entry into the Indian market. It will be interesting to see how these developments pan out in the coming months and their impact on the Indian economy.
(Note: Do you have knowledge or insights to share? Unlock new opportunities and expand your reach by joining our authors team. Click Registration to join us and share your expertise with our readers.)
Speech tips:
Please note that any statements involving politics will not be approved.