Top 25: 2024 Business News | Current Affairs for Interviews

Here are the top 20 business news stories from India in 2024:

1. India’s GDP Growth: India’s economy grew by 6.6% in 2024, reinforcing its position as the world’s fifth-largest economy and narrowing the gap with Germany.
2. Stock Market Performance: India’s domestic market capitalization soared by 18.4% to $5.18 trillion, adding $806 billion and ranking third globally among major markets.
3. Surge in IPO Activity: India surpassed China to become Asia’s leading market for initial public offerings (IPOs) in 2024, driven by companies like Swiggy and Hyundai Motor.
4. Record Corporate Debt Issuance: Indian companies raised a record ₹10.67 trillion ($124.81 billion) through corporate bonds, a 9% increase from the previous year.
5. Foreign Investment in Government Bonds: Foreign inflows into Indian government bonds reached record highs in 2024, following India’s inclusion in JPMorgan’s emerging market debt index.
6. Rupee Depreciation: The Indian rupee declined for the seventh consecutive year, ending 2024 with a 2.8% annual decrease against the US dollar.
7. Adani Ports’ Expansion: Adani Ports & SEZ handled 420 million tonnes of cargo in FY24, a 24% increase, and expanded its global presence with acquisitions in Israel, Sri Lanka, Tanzania, and Vietnam.
8. Advancements in Space Technology: India’s Space Docking Experiment (Spadex) aimed to dock two satellites in orbit, positioning India among the few nations with such capabilities.
9. UPI Market Share Cap Delayed: India postponed the implementation of market share caps for UPI payments by two years, providing relief to major players like PhonePe and Google Pay.
10. Union Budget 2024: The 2024 Union Budget introduced revised income tax slabs, increased standard deductions, and abolished the “angel tax,” impacting startups and investors.
11. India’s Rise in Global Rankings: India improved its global rankings in business, competitiveness, and innovation, becoming the second-largest phone manufacturer.
12. Embrace of Artificial Intelligence: India developed its own large language models and boosted supercomputing capabilities, applying AI across sectors from healthcare to governance.
13. Digital Payments Growth: The Unified Payments Interface (UPI) continued its exponential growth, with transaction volumes reaching new heights, furthering India’s digital economy.
14. Renewable Energy Investments: Significant investments in renewable energy projects positioned India as a leader in sustainable development, with a focus on solar and wind energy.
15. Automotive Industry Expansion: India’s automotive sector saw growth with increased production and export of electric vehicles, attracting global manufacturers to set up operations.
16. Pharmaceutical Exports Increase: India’s pharmaceutical exports reached record levels, solidifying its role as the “pharmacy of the world” by supplying affordable medicines globally.
17. E-commerce Sector Growth: The e-commerce industry experienced significant expansion, with increased consumer adoption and entry of new players, enhancing competition.
18. Infrastructure Development Projects: Major infrastructure projects, including highways and urban development initiatives, progressed, boosting economic growth and connectivity.
19. Agricultural Reforms Implementation: The government implemented agricultural reforms aimed at improving farmers’ income and modernizing the sector, despite facing protests.
20. Telecom Sector Advancements: The rollout of 5G services commenced, enhancing connectivity and opening avenues for technological innovations across various industries.

These developments highlight India’s dynamic business environment in 2024, marked by economic growth, technological advancements, and significant policy reforms.

Here are the top 20 international business news stories from 2024:

1. Nvidia’s Market Capitalization Surges: Nvidia’s market cap exceeded $2 trillion in March and reached over $3.3 trillion by June, making it the world’s most valuable company, driven by advancements in AI technology.
2. Record Trading Revenues for Banks: Global banks projected approximately $225 billion in trading revenues for 2024, the highest since 2010, fueled by equity derivatives and credit deals.
3. Stock Market Achieves Significant Gains: The S&P 500 posted a 23.3% increase, and the Nasdaq composite jumped 28.6% in 2024, marking the best two-year gains since the late 1990s.
4. FTSE 100’s Consecutive Growth: The UK’s FTSE 100 experienced a 5.8% growth, marking its fourth consecutive year of gains, though it lagged behind Wall Street’s performance.
5. Revolut’s Milestones: Fintech giant Revolut obtained a UK banking license, expanded its headquarters to Canary Wharf, and achieved a record valuation of $45 billion.
6. Apple’s Challenges with New Ventures: Apple faced hurdles as its Vision Pro headset and AI initiatives struggled to gain market traction, posing challenges for CEO Tim Cook.
7. DEI Policies Under Scrutiny: Several major U.S. companies and universities scaled back or eliminated Diversity, Equity, and Inclusion initiatives amid legal and social pressures.
8. Surge in IPO Activity: The U.S. IPO market raised over $41 billion, signaling a rebound with high-profile offerings and increased investor optimism for 2025.
9. Global Economic Fluctuations: Cocoa prices doubled due to adverse weather, Bitcoin surpassed $100,000 following political events, and oil prices fluctuated amid geopolitical tensions.
10. UK Pub Closures Reach All-Time High: Over 400 pubs closed in 2024, bringing the total number in England and Wales to an all-time low, impacted by rising costs and cautious consumer spending.
11. Microsoft’s Strategic Investments: Microsoft invested $1.5 billion in Emirati AI firm G42 and $1.7 billion in AI and cloud infrastructure in Indonesia, expanding its global footprint.
12. Exxon Mobil’s Acquisition: Exxon Mobil reached an agreement with the FTC, poised to close a $60 billion deal to acquire Pioneer Natural Resources, expanding its oil and gas portfolio.
13. SpaceX’s Milestone: SpaceX achieved a major milestone with the successful ocean landing of its Starship rocket, marking progress in reusable space vehicle technology.
14. AI’s Impact on Business: The rapid development of AI technologies continued to reshape industries, with significant investments and regulatory considerations influencing the business landscape.
15. Global Business Trends: Geopolitical, economic, and policy trends, including moderate international interest rates, affected global business operations and strategies.
16. Retail and Restaurant Dynamics: The retail and restaurant sectors experienced notable changes, with new openings and closures reflecting shifting consumer behaviors and economic conditions.
17. Technological Disruptions: Advancements in technology, particularly in AI and cloud services, led to significant disruptions and milestones across various business sectors.
18. Global Business Environment: Leaders navigated challenges including geopolitical turmoil, energy transitions, and generative AI implications, shaping the business environment in 2024.
19. Corporate Compliance Challenges: Regulatory uncertainty, technological disruption, and changing enforcement priorities created new compliance challenges and opportunities for businesses.
20. UK Housing Market Trends: The UK housing market experienced fluctuations, with initial declines due to rising interest rates followed by recovery as mortgage rates fell.

These stories highlight the dynamic nature of the global business landscape in 2024, encompassing technological advancements, market fluctuations, regulatory changes, and strategic corporate movements.