General Awareness

BUSINESS AND ECONOMY - March 2017

Mar 2017

Oct 28, 2026

Wabtec Secures $94 Million Vande Bharat Sleeper Order

Wabtec Corporation, a US‑based railway technology company, secured orders worth about $94 million (₹839 crore) from Indian Railways in October 2026. The contract covers braking systems, doors and gangway solutions for 24‑coach Vande Bharat Sleeper trains built by the Integral Coach Factory (ICF) in Chennai. The project aims to enhance passenger safety, reliability and maintenance efficiency as part of India’s railway modernisation programme. The deal highlights growing collaboration between Indian Railways and global suppliers to upgrade rolling stock and accelerate project timelines.

Wabtec won orders worth roughly $94 million from Indian Railways.
Contract covers braking systems, doors and gangway solutions for 24‑coach Vande Bharat Sleeper trains.
Built by ICF in Chennai, India.
Goal: improve safety, reliability and maintenance efficiency as part of railway modernisation.

LTTS Signs Five‑Year R&D Pact with Nokia

L&T Technology Services (LTTS) signed a five‑year engineering and R&D agreement with Nokia in October 2026. The deal includes establishing a dedicated Offshore Development Centre (ODC) in India to support Nokia’s global R&D operations. The collaboration will cover 5G networks, artificial intelligence, intelligent automation, software development, product engineering and system integration. The partnership strengthens India's role in advanced telecommunications research and creates opportunities for engineers and startups in the country. The ODC will enable closer cooperation with Nokia and speed up new product development for telecom networks worldwide.

Five‑year engineering and R&D agreement between LTTS and Nokia.
ODC to be established in India to support Nokia’s global R&D.
Focus areas: 5G, AI, intelligent automation, software development, product engineering, system integration.
Aims to strengthen India’s position in telecom R&D and industry collaboration.

Oct 27, 2026

PM Modi Inaugurates Arvind Limited Textile Plant in Varanasi

Prime Minister Narendra Modi inaugurated a textile manufacturing plant of Arvind Limited at Khochwan, Mirzamurad, in Varanasi, Uttar Pradesh, during October 2026. The facility, developed at an estimated cost of ₹150 crore, covers about 7–8 acres and marks the company's first major manufacturing unit in Purvanchal. Officials say the plant will boost local industry, create jobs, and strengthen regional value chains in eastern Uttar Pradesh. The project aligns with government priorities to accelerate industrial development in the region, expand exports, and promote inclusive growth by integrating traditional textile skills with modern production capabilities.

Arvind Limited opens a ₹150 crore textile plant in Varanasi (Khochwan, Mirzamurad).
Facility spans approximately 7–8 acres; first major unit in Purvanchal.
Expected to create jobs and boost regional manufacturing capabilities.
Aligns with government focus on industrial development in eastern UP.
Part of broader efforts to combine traditional skills with modern production.

Oct 24, 2026

Paytm Partners with AU Small Finance Bank to Launch RuPay Credit Card

One97 Communications, Paytm's parent, partnered with AU Small Finance Bank to launch a lifetime-free co-branded RuPay credit card. The card offers rewards on eligible Paytm UPI transactions and provides complimentary airport lounge access for family travel booked via Paytm. It carries no joining or annual fees and features QR-based lounge entry. The offer targets India’s mobile-first consumers and aims to expand digital payments, broaden access to credit and enhance travel benefits for Paytm users.

Partnership: Paytm with AU Small Finance Bank.
Product: lifetime-free RuPay credit card.
Rewards: up to 2% on Paytm UPI spends; 5% on Travel and Gold.
Family lounge access: up to 12 visits per year; QR-based entry.
No joining or annual fee.

India-New Zealand Free Trade Agreement Comes Into Force

The India-New Zealand Free Trade Agreement comes into force on 20 October 2026. The pact eliminates tariffs on about 95% of New Zealand exports to India and is expected to boost bilateral trade, with NZ projecting about US$20 billion in investments over 20 years. The agreement also expands visa commitments for Indian professionals and students; dairy products face certain tariff limits. The FTA aligns with broader push to deepen trade corridors in the Indo-Pacific region.

FTA between India and New Zealand enters into force on 20 Oct 2026.
Tariffs removed on about 95% of NZ exports to India.
NZ commitments: ~US$20 billion in investments over 20 years.
Indian workers: visa commitments expanded.
Dairy products remain tariffed in some cases.

Oct 22, 2026

Fisheries Investors & Exporters Conclave 2026 held in Bhopal

The Fisheries Investors & Exporters Conclave 2026 was held at the Kushabhau Thakre International Convention Centre in Bhopal, Madhya Pradesh. The event aimed to attract investment, boost fish exports and develop the fisheries sector. The Madhya Pradesh Fisheries Investment and Export Guidelines, 2026 were released during the conclave, outlining licensing, quality standards and export procedures. Industry representatives discussed value addition, cold-chain logistics and market access in key destinations. The conclave highlighted India's growing role in global seafood trade and signalled policy support for fishermen and small-scale operators through improved access to credit, technology and training.

Conclave held at Kushabhau Thakre Centre, Bhopal.
Aims: attract investment, boost exports, sector development.
MP Fisheries Investment and Export Guidelines, 2026 released.
Discussions on value addition, logistics and market access.

Oct 21, 2026

India–New Zealand Free Trade Agreement comes into force with zero-duty access

On 20 October 2026, the India–New Zealand Free Trade Agreement (FTA) came into force, offering zero-duty access to 100 percent of Indian exports entering New Zealand. Signed on 27 April 2026, the pact aims to boost bilateral trade and investment, with anticipated gains for sectors such as textiles, leather, footwear, engineering, and agriculture. India will extend tariff concessions on certain New Zealand goods as part of the deal. Union Commerce and Industry Minister Piyush Goyal described the arrangement as a major step in deepening economic ties between the two democracies. The pact aligns with New Delhi’s broader push to diversify export markets and support domestic producers.

FTA entered into force on 20 October 2026.
Zero-duty access to 100% of Indian exports to New Zealand.
Signed on 27 April 2026.
Beneficiary sectors include textiles, leather, footwear, engineering, agriculture.
Tariff concessions will apply to select New Zealand imports.

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