General Awareness

BUSINESS AND ECONOMY - May 2015

May 2015

Jun 29, 2026

Prabhjeet Singh resigns as Uber India and South Asia president

Prabhjeet Singh resigned as President of Uber India and South Asia on 26 June 2026 after more than a decade with the company. Reports indicate he will join OpenAI as India Managing Director, marking a major leadership shift in India’s tech and mobility sector. Uber India acknowledged his contributions while signaling a search for a successor. The move aligns with a broader pattern of executive changes in tech firms. The resignation and subsequent OpenAI appointment were widely reported by multiple outlets on 26–27 June 2026, highlighting India’s evolving leadership landscape in digital platforms.

Resignation date: 26 June 2026.
Role: President of Uber India and South Asia.
Next role: India Managing Director at OpenAI.
Significance: major leadership shift in India’s tech mobility sector.
Source reports: Indian media coverage in late June 2026.

Jun 27, 2026

RIL tops Hurun India 500 for fifth year; private sector valued at $3.4 trillion

Axis Bank Burgundy Private has released its analysis of India's Hurun India 500 list. The study shows Reliance Industries Limited (RIL) maintaining its position as India's most valuable company for the fifth consecutive year. Together, the top 500 private firms carry an estimated value of about 3.4 trillion US dollars, highlighting the expanding size of India's private sector. HDFC Bank and Bharti Airtel are among other leading names in the ranking, reflecting strength in financial services and telecommunications. The report notes continued growth in consumer and technology segments, with exposure to digital platforms and new business models shaping valuations across industries.

RIL remains India's most valuable company for fifth year.
Top 500 private firms valued at about $3.4 trillion.
HDFC Bank and Bharti Airtel among leaders.
Growth driven by consumer, technology, and digital platforms.

Jun 25, 2026

Jonnagiri Gold Mine Begins Commercial Operations in Andhra Pradesh

The Jonnagiri Gold Mine in Kurnool district, Andhra Pradesh, began commercial operations in June 2026. Described as India’s first operational private‑sector primary gold mine since Independence, the Rs. 405 crore open‑pit project aims to strengthen domestic gold production and reduce imports. Initial annual output is targeted at about 400 kilograms, with plans to scale to nearly one tonne as the operation matures. The mine adopts modern extraction and processing methods and is expected to generate local employment and boost regional development while complying with environmental and statutory norms. The development signals a milestone for private mining and India’s mineral value chain in the coming years.

Location: Jonnagiri, Kurnool district, Andhra Pradesh
Project cost: Rs 405 crore; open-pit operation
Initial output: ~400 kg/year; target ~1,000 kg/year later
Significance: India’s first private-sector primary gold mine since independence
Regulatory/compliance: environmental and statutory norms upheld

Odisha Exports Dried Egg Powder to Austria

Odisha marked its first commercial export of dried whole egg powder to Austria in June 2026. A 22.6‑metric‑tonne shipment from Balangir, produced by OVO Farm Pvt. Ltd. and facilitated by APEDA, showcased India’s value‑added agricultural exports. The export aligns with government aims to diversify agri‑exports and expand processed food industries. APEDA’s support through registration, market access assistance, and export promotion activities helped complete the deal. The shipment is expected to encourage further international buyers and push broader development of Odisha’s agro‑processing sector, creating rural employment in addition to strengthening India’s presence in European markets.

Shipment: 22.6 metric tonnes to Austria
Origin: Balangir, Odisha; exporter: OVO Farm Pvt. Ltd.
Facilitator: APEDA; date: June 2026
Significance: first commercial egg powder export from Odisha
Impact: value‑added exports; rural employment potential

Jun 23, 2026

Khurasani Imli from Mandu, MP Receives GI Tag

Khurasani Imli, a fruit from Mandu in Madhya Pradesh, received the Geographical Indication tag in June 2026. The GI ties the fruit to Mandu’s iconic baobab trees and links its identity to local culture and regional agriculture. The GI status helps protect the fruit from imitation and supports local livelihoods by enabling branding and premium pricing. Producers expect increased demand from domestic and export markets as well as enhanced tourism related to Mandu’s cultural heritage. Authorities emphasise that GI protection preserves traditional knowledge and contributes to rural development in the Mandu area.

Product: Khurasani Imli from Mandu, Madhya Pradesh.
GI Tag granted in June 2026.
Linked to Mandu’s baobab trees and regional heritage.
Benefits: brand protection, potential higher prices, livelihoods support.
Impact: supports rural development and local economy.

India Remains ADB’s Largest Private Sector Market in 2026

India remained the largest market for the Asian Development Bank's private sector operations in 2026. The ADB's private-sector arm is expected to provide nearly USD 1 billion in direct financing to private businesses in India this year. When funds mobilized from other sources are included, the total investment flow could reach around USD 2 billion. The bank's data highlight sustained private sector activity and growing investor confidence in India as a destination for ADB-backed projects. By supporting private firms, the ADB aims to help mobilize capital, encourage job creation, and promote technological adoption. These figures reflect India's continuing importance in the bank's regional private sector strategy.

India is the largest market for ADB private sector operations in 2026.
Direct financing to Indian private businesses: nearly USD 1 billion.
Total investment flow with mobilized funds: around USD 2 billion.
Implication: stronger private sector activity and investor confidence.
Supports job creation and technology adoption in India.

Jun 21, 2026

Bharat Buildcon 2026 inaugurated in New Delhi under One Nation, One Expo

Bharat Buildcon 2026 was inaugurated at the Yashobhoomi Convention Centre in New Delhi, with the theme One Nation, One Expo. The four‑day event focuses on building materials and the construction industry, bringing together policymakers, industry leaders, manufacturers, builders and international buyers. The opening ceremony featured Union Minister Manohar Lal Khattar, with other dignitaries including Jitin Prasada representing the Ministry of Commerce & Industry. The expo is organised with CAPEXIL under the Ministry of Commerce & Industry to promote domestic manufacturing and export opportunities in the sector. It aims to boost industry collaborations and showcase innovations from India and abroad.

Event: Bharat Buildcon 2026, New Delhi, 18 June 2026, at Yashobhoomi.
Theme: One Nation, One Expo; focus on building materials and construction industry.
Inauguration: Union Minister Manohar Lal Khattar; Jitin Prasada represented Ministry of Commerce & Industry.
Organisers: CAPEXIL under the Ministry of Commerce & Industry.
Must‑know: CAPEXIL promotes exports of building materials.

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