General Awareness

BUSINESS AND ECONOMY - October 2017

Oct 2017

Aug 21, 2025

India and Eurasian Economic Union Sign Terms of Reference to Launch FTA Negotiations

India and the Eurasian Economic Union (EAEU), comprising Armenia, Belarus, Kazakhstan, Kyrgyz Republic and Russia signed the Terms of Reference (ToR) to launch negotiations on a Free Trade Agreement (FTA).
The ToR was signed by Additional Secretary, Department of Commerce, Government of India, Ajay Bhadoo, and Deputy Director, Trade Policy Department, Eurasian Economic Commission (EEC), Mikhail Cherekaev.
The ToR provides the framework for negotiations and is expected to unlock untapped trade potential, increase investments and establish a stronger, durable India-EAEU economic partnership.

Flipkart Expands Footprint in Northeast

Flipkart expanded its footprint in Northeast by unveiling its first grocery fulfilment centre in Agartala, Tripura.
Flipkart's first grocery FC in the state will support rising consumer demand for online groceries by enhancing serviceability and offering delivery slots as per the consumer's choice across Agartala and nearby areas. Built on deep consumer insights, the facility will offer a curated selection of over 4,000 products across staples such as aata, rice, and pulses in addition to snacks, beverages, personal care, and household essentials. The assortment includes several locally popular brands to cater to the diverse preferences of consumers across Tripura.

Aug 20, 2025

Volvo Cars Select Tata Technologies as a Strategic Supplier

Tata Technologies, a global product engineering and digital services company, was selected as a strategic supplier by Volvo Cars – a milestone that reinforces Tata Technologies commitment towards #Engineering A Software Defined Future by innovating smarter, safer, and more sustainable solutions for global automotive companies.

Patanjali Gets International-level Authorised Economic Operator Tier-2 Certificate

The World Customs Organisation (WCO) and the Ministry of Finance of the Government of India - Indian Customs awarded Patanjali the Authorized Economic Operator (AEO) Tier-2 certificate.
This certificate symbolises the highest standards of honesty, transparency and supply chain security in global trade.
Only a handful of companies among the top companies of India have this status, and in the FMCG sector, only a few companies have received this prestigious certificate. Now Patanjali's name has been added to this list in golden letters.
It is worth mentioning that with this AEO Tier-2 certificate, Patanjali Foods will get more than 28 types of international trade benefits along with Duty Deferred Payment, Bank Guarantee Waiver, Direct Port Delivery (DPD), 24x7 Clearance facility etc.

Ex-Twitter CEO Parag Agrawal Launches AI Start-up 'Parallel' to Build a Web for Machines

Three years after his sudden exit from Twitter following Elon Musk's takeover, Parag Agrawal is back at the forefront of tech innovation with a bold new venture—Parallel Web Systems. This AI-focused start-up aims to revolutionise how artificial intelligence systems interact with the internet, introducing tools that empower AI agents to perform complex web tasks with unprecedented speed and precision.
Parallel Web Systems is not just another AI company—it's building what Agrawal calls the "web's second user": machines. The startup's mission is to create web infrastructure specifically for AI, allowing machines to not only browse the web but consume, process, and act on information more effectively than humans ever could.

Aug 19, 2025

Foxconn's Bengaluru Unit Commences Operation with iPhone 17 Production

In India's electronics manufacturing sector, Foxconn's new facility in Bengaluru officially commenced operations with the production of iPhone 17. This makes the Devanahalli unit in Karnataka the company's second-largest plant globally outside China, strengthening India's position in Apple's global supply chain.
The launch marks a significant milestone in India's ambitions to become a global hub for advanced electronics and smartphone manufacturing.
Foxconn, Apple's biggest manufacturing partner, has been steadily scaling up operations in India. While its Chennai unit in Tamil Nadu has been producing iPhones for several years, the new Bengaluru facility represents a strategic investment to diversify production outside of China.

China to Resume Fertilizer, Rare Earth, TBM Supply to India

India and China took a step towards normalising relations as visiting Chinese Foreign Minister Wang Yi assured External Affairs Minister (EAM) S. Jaishankar that Beijing will resume critical supplies of fertilizers, rare earth minerals, and tunnel boring machines (TBMs) to India.
The assurance comes after nearly a year-long halt that had strained India's agriculture and infrastructure sectors.

First for India: Kotak Mahindra Wins UAE License to Launch Local Funds

Kotak Mahindra (International) Limited ("KMIL"), a wholly owned subsidiary of Kotak Mahindra Bank Limited, was granted a license by the Securities and Commodities Authority ("SCA"), the capital markets regulator of the United Arab Emirates, to conduct Investment Fund Management and Portfolio Management activities.
With this approval, KMIL became the first Indian firm to receive this license from the SCA, marking a significant milestone in the evolution of cross-border financial services. This development paves the way for the launch of UAE-domiciled funds for retail investors, further reinforcing the UAE's position as a regional financial and investment hub.

Aug 18, 2025

Platinum Industries Joins 2025 Barclays Hurun India List of Most Valuable Family Businesses

Platinum Industries Ltd., one of India's most respected family-run manufacturers in the chemical manufacturing sector, announced its inclusion in the 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses List. This marks the first time Platinum has been featured on this prestigious platform, which honours the nation's most valuable family enterprises.
The annual list, now expanded to 300 families with 100 new entrants this year (2025), showcases the strength and influence of Indian family businesses. Together, these companies control an astounding USD 1.6 trillion (INR 134 lakh crore) in value, a figure that exceeds the combined GDP of Turkey and Finland and generated INR 7,100 crore in value every day over the past year.

Tata Sons Shareholders Unanimously Approve Noel N. Tata's Appointment as Director

Tata Sons shareholders unanimously approved the appointment of Noel N. Tata as a Director during the company's 2025 Annual General Meeting (AGM). The meeting marked a new chapter in the group's leadership following the passing of Ratan Tata, the group's iconic figure.
Held virtually the AGM also saw all six resolutions passed without opposition signalling consensus and optimism about the Tata Group's direction.

Yogi Adityanath Inaugurates Uttar Pradesh's First Green Hydrogen Plant in Gorakhpur

Uttar Pradesh Chief Minister Yogi Adityanath inaugurated the state's first and the country's second green hydrogen plant at Khanimpur village in Gorakhpur, set up by Torrent Gas and Torrent Power.
Calling it a milestone in clean energy transition, Adityanath said that green hydrogen represents the energy of the future and would play a decisive role in protecting biodiversity, reducing carbon emissions and improving human health.

Microsoft Tops TopBrand 2025 Global Brands List; NVIDIA and Apple Follow

At the 19^th China Brand Festival, held in Shenzhen the TopBrand Union unveiled its Top 500 Global Brands List 2025. The rankings highlighted the dominance of US tech giants, with Microsoft, NVIDIA, and Apple securing the top three positions, respectively. The event, themed "AI and Global Expansion", drew over 10,000 participants, including entrepreneurs, policymakers, and brand leaders from across the globe.
According to the report, brand valuations (in USD) are as follows: Microsoft – $1,062.505 billion, NVIDIA – $1,046.760 billion, Apple – $997.685 billion, Amazon, Alphabet (Google), Saudi Aramco, Walmart, Meta (Facebook), Berkshire Hathaway and Broadcom.
Microsoft's leadership reflects its continued dominance in AI, cloud computing, and enterprise software solutions.
NVIDIA's rose to the second place underscores the AI chip revolution and its role in powering next-gen technologies.
Apple's third place reflects its strong consumer ecosystem despite intense market competition.

Aug 17, 2025

NTPC Becomes First PSU to Adopt Global Standard for Power Supply Continuity

NTPC Limited, India's largest power producer, became the first public sector company in the country's power industry to implement a Business Continuity Plan (BCP) aligned with ISO 22301:2019, the international benchmark for business continuity management systems (BCMS).
NTPC said the plan would strengthen its ability to maintain uninterrupted power generation and supply in the face of unexpected events.

India Welcomes First Sovereign Rating Upgrade in 18 Years to 'BBB'

India received its first sovereign credit rating upgrade in 18 years, with S&P Global Ratings raising the country's long-term rating to 'BBB' from 'BBB-' and the short-term rating to 'A-2' from 'A-3', while keeping the outlook stable.
This upgrade reflects India's robust economic growth, sustained fiscal consolidation, and policy stability. The stable outlook indicates that continued policy stability and high infrastructure investment will support India's long-term growth prospects.

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