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BUSINESS AND ECONOMY - March 2021

Mar 2021

Mar 17, 2026

Surya Midha Becomes Youngest Billionaire on Forbes List

Surya Midha, Indian-origin cofounder of Mercor, joined Forbes 2026 World’s Billionaires List at age 22, with a net worth of $2.2 billion. Born in Mountain View, California and raised in San Jose, Midha co-founded Mercor in 2023 with Brendan Foody and Adarsh Hiremath. His rapid ascent mirrors the broader tech and AI hiring sector’s growth in India and abroad. The profile underscores the rising presence of young Indian entrepreneurs in global business circles and highlights Mercor’s role in AI-driven hiring solutions across markets.

Net worth: $2.2 billion (Forbes 2026 list).
Age: 22; cofounder of Mercor (founded 2023).
Co-founders: Brendan Foody, Adarsh Hiremath.
Birth: Mountain View, California; raised in San Jose.
Significance: reflects growth of Indian tech entrepreneurs on global stage.

Akasa Air Pioneers MRO Self-Reliance at Jewar Tie-Up

Akasa Air and Noida International Airport at Jewar, Uttar Pradesh, announced a landmark MRO (maintenance, repair, and overhaul) facility to be established within the airport complex. This collaboration aims to enhance fleet maintenance efficiency and reduce reliance on external services. The airport recently received its aerodrome licence from the DGCA, paving the way for upcoming flight operations. The MRO unit will be a strategic asset for Akasa Air, supporting safer and more cost-effective aircraft upkeep while contributing to Noida’s emergence as a regional aviation hub.

Partnership: Akasa Air with Noida International Airport, Jewar.
Facility: In-house MRO at the airport premises.
Regulatory milestone: Aerodrome licence granted by DGCA.
Impact: improved maintenance efficiency and reduced outsourcing.
Strategic outcome: strengthens Noida as a regional aviation hub.

Mar 14, 2026

Port Digital Twin Platform Launched at V.O. Chidambaranar Port

V. O. Chidambaranar Port in Tamil Nadu launched India's first Digital Twin platform for port management on 23 February 2026. The initiative, inaugurated by Sarbananda Sonowal, aims to create a smart, efficient port ecosystem through digital simulations of vessel scheduling, cargo handling, berthing, and yard operations. The platform enables predictive analytics to optimize resource use, reduce congestion, and improve decision making across port processes. By modeling real‑time terminal operations, stakeholders can test scenarios before implementation. The Digital Twin is expected to set a benchmark for other Indian ports to adopt advanced digital management tools and enhance competitiveness in maritime logistics.

Launch location and date: V.O. Chidambaranar Port, 23 February 2026.
Inaugurator: Sarbananda Sonowal.
Technology: Digital Twin platform for port management.
Benefits: reduced congestion, improved scheduling, predictive analytics.
Impact: could catalyze across‑port digitalization in India.

Mar 13, 2026

International Rail Coach Exhibition inaugurated at ICF Chennai

Integral Coach Factory (ICF) general manager U. Subba Rao inaugurated the International Rail Coach Expo (IRCE) 2026 in Chennai on 12 March 2026. Held from 12 to 14 March 2026, IRCE is a premier global platform for rail coach manufacturing, interior furnishing and safety. The event, organised in association with CII, brings together policymakers, industry leaders, technology providers and researchers under one roof. It aims to showcase India’s rail design capabilities, promote domestic manufacturing, and explore export opportunities while strengthening collaboration across vendors and government agencies.

Event: IRCE 2026 in Chennai
Dates: 12–14 March 2026
Organizer: ICF with CII
Participants: policymakers, industry leaders, suppliers
Focus: rail coach manufacturing, safety, interiors

Mar 12, 2026

HDFC ERGO names Parthanil Ghosh as MD and CEO; to take charge from 16 April 2026

HDFC ERGO General Insurance has announced the appointment of Parthanil Ghosh as its new Managing Director and Chief Executive Officer. The decision was approved by the company’s Board of Directors and marks a leadership transition for the insurer as it pursues growth amid rapid digital adoption in India's general insurance market. Ghosh will assume the role on 16 April 2026, subject to approvals from the Insurance Regulatory and Development Authority of India and other regulators. The move signals a strategy to nurture internal leaders. India’s general insurance sector continues to expand, driven by digitisation and improved customer services.

Parthanil Ghosh appointed as MD & CEO; taking charge on 16 April 2026.
Board approval secured; subject to IRDAI and other regulatory clearances.
Indicates internal leadership promotion within HDFC ERGO.
Indian general insurance market expanding with digital adoption.
Must-know last 48 hours: 11 March 2026 National Conference of Women Elected Representatives; 12 March 2026 World Kidney Day.

AAHAR 2026 Food and Hospitality Fair inaugurated in New Delhi

The 40th AAHAR International Food and Hospitality Fair was inaugurated in New Delhi by Union Commerce and Industry Minister Piyush Goyal. The event, organized by the Ministry of Food Processing Industries (MoFPI) and the India Trade Promotion Organisation (ITPO), runs from 10 to 14 March 2026. It showcases products, technologies and trade opportunities across the food processing, hospitality and agriculture sectors. Visitors from across the country and abroad attend, with business-to-business engagements and a public day from 13–14 March. AAHAR serves as a major platform for policy dialogue, product innovations and industry networking.

AAHAR 2026 inaugurated in New Delhi by Minister Piyush Goyal.
Dates: 10–14 March 2026; public days 13–14 March.
Organisers: MoFPI and ITPO; focus on food processing, hospitality and agriculture.
Offers B2B engagements and international participation.
Must-know last 48 hours: GCWAS begins 12 March; World Kidney Day observed.

HDFC ERGO Names Parthanil Ghosh as MD and CEO, Effective 16 April 2026

Parthanil Ghosh has been appointed Managing Director and Chief Executive Officer of HDFC ERGO General Insurance. The appointment was approved by the company’s Board of Directors and marks a major leadership transition for the firm. The new MD and CEO will take effect on 16 April 2026, contingent on approvals from the Insurance Regulatory and Development Authority of India (IRDAI) and other regulatory bodies. Ghosh is seen as a veteran within the organization, having led multiple initiatives in digital transformation, product development, and distribution. In the context of India’s rapidly expanding general insurance market, his leadership is expected to drive growth, risk management, and customer-centric strategies across channels.

Parthanil Ghosh appointed MD & CEO of HDFC ERGO General Insurance.
Effective date: 16 April 2026; subject to IRDAI and other approvals.
Board approved the appointment as part of internal leadership succession.
Ghosh has prior leadership experience within the company.
Role focuses on digital adoption, product strategy, and distribution growth.
Industry context: rapid expansion in India's general insurance sector.

Mar 10, 2026

India ranks fourth in global cross-border land investments

India has ranked as the fourth most attractive global destination for cross-border investments in land and development sites, according to Colliers’ Global Capital Flows Report released in September 2025. The study highlights India’s rising importance in the international real estate market despite wider uncertainties in the Asia-Pacific region. Across nine major APAC markets, total investments reached 71.9 billion US dollars in the first half of 2025, down 6 percent from the previous year. The markets studied include Australia, Mainland China, Hong Kong, India, Japan, Singapore, South Korea, New Zealand, and Taiwan. India’s position reflects strong demand for logistics, office space, and urban development projects, supported by reforms and growth in the economy.

Source: Colliers Global Capital Flows Report (Sept 2025)
India ranked 4th in cross-border land investments
APAC total: USD 71.9 billion in H1 2025, down 6% YoY
Markets covered: 9 major APAC economies
Indicative sectors: logistics parks, office space, urban development

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