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BUSINESS AND ECONOMY - January 2017

Jan 2017

Jul 30, 2025

Reliance Industries Limited Signs Joint Operating Agreement with Oil and Natural Gas Corporation ...

Reliance Industries Limited (RIL) entered into a joint operating agreement with Oil and Natural Gas Corporation Limited (ONGC) and BP Exploration (Alpha) Limited (BP) for the exploration Block GS-OSHP-2022/2 (Block).
This Block in located off the western coast in Saurashtra basin and was awarded to RIL, ONGC and BP as part of Hydrocarbon Exploration and Licensing Policy.

India Emerges as Top Smartphone Supplier to US

According to Canalys, India emerged as the largest manufacturing hub for smartphones shipped into the US for the first time in Q2, 2025, as China's share shrunk amid tariff negotiations.
The research from Canalys (now part of Omdia) revealed that United States smartphone shipments grew 1 per cent in the second quarter of the current calendar year as vendors continued to frontload device inventories amid tariff concerns.

Jul 29, 2025

P&G Names Indian Born Shailesh Jejurikar as its President and CEO

Procter & Gamble appointed Shailesh Jejurikar as its next global Chief Executive Officer CEO. He will take over as Chief Executive Officer (CEO) at Procter & Gamble (P&G) in January 2026, joining the ranks of top Indian origin CEOs in the US such as Sundar Pichai, Satya Nadella, Shantanu Narayen, Arvind Krishna, Neal Mohan and Leena Nair.
Procter & Gamble appointed Shailesh Jejurikar as President and Chief Executive Officer (CEO), becoming the first Indian to lead the consumer goods conglomerate effective January 1, 2026.
Jejurikar who joined the company in 1989, will replace Jon Moeller, according. Moeller, who was named to the top job about four years ago, will become P&G's Executive Chairman.

L&T Technology Services Bags $60 mn Multi-year Agreement from a US Client

Engineering and technology services firm L&T Technology Services (LTTS) signed a $60 million multi-year agreement with a prominent US-based provider of wireless telecommunications services.
This latest win marks LTTS' fourth deal exceeding $50 million in the last four consecutive quarters.
This strategic engagement will see LTTS delivering advanced network software development and application engineering solutions.
Under the terms of the agreement, LTTS will provide engineering services, including R&D lab integration, new product development, and functionality testing for the customer's network software automation platforms.

Tesla Signs Chip Supply Deal with Samsung Electronics

Tesla CEO Elon Musk said that the US automaker has signed a deal to source chips from Samsung Electronics, a move expected to bolster the South Korean tech giant's loss-making contract manufacturing business.
The deal came as Samsung faces mounting pressure in the race to produce artificial intelligence chips, where it trails rivals such as TSMC and SK Hynix. This lag has weighed heavily on its profits and share price.

Jul 28, 2025

Anuradha Thakur Nominated as Director on RBI Central Board

The Central Government nominated Anuradha Thakur, Secretary of the Department of Economic Affairs, as a Director on the Central Board of the Reserve Bank of India (RBI), replacing Ajay Seth.
Thakur's appointment is effective immediately and will remain in effect until further notice.

Jul 27, 2025

RBI Approves Warburg Pincus Investment in IDFC First Bank

The Reserve Bank of India (RBI) granted approval to Warburg Pincus, a prominent global private equity firm, to acquire up to 9.99% stake in IDFC First Bank. The Rs. 4,876 crore investment is expected to enhance the bank's capital base and support its growth ambitions.
The investment proposal was first announced in April 2025 and subsequently received clearance from the Competition Commission of India (CCI) in June 2025. The investment is being routed through Currant Sea Investments B.V., an affiliate of Warburg Pincus.

Jul 26, 2025

Kotak Bank Launches Solitaire to Target India's Growing Affluent Class

The Mumbai-based private lender, Kotak Mahindra Bank, backed by billionaire Uday Kotak launched 'Kotak Solitaire', an offering targeted at salaried customers with Rs. 0.75 crore ($86,786) in relationship value and self-employed clients with Rs. 1 crore.

Comviva Appoints Manish Agrawal as President and Chief Operating Officer

Comviva, a global leader in digital transformation solutions, specialising in customer experience management, data monetisation, and digital financial services, announced the appointment of Manish Agrawal as President and Chief Operating Officer. This strategic leadership announcement marks a significant milestone in the company's Comviva 2.0 journey, aimed at accelerating market growth, deepening customer engagement, and scaling innovation in a rapidly evolving digital ecosystem.

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