General Awareness

BUSINESS AND ECONOMY - August 2021

Aug 2021

Jan 03, 2025

Abu Dhabi's Mubadala Tops Global Sovereign Investments with $29.2 Billion in 2024

Mubadala Investment Company, Abu Dhabi's sovereign wealth fund, claimed the title of the world's leading sovereign investor in 2024, deploying an impressive $29.2 billion across 52 deals. This marks a significant achievement, as it surpassed Saudi Arabia's Public Investment Fund and accounted for approximately 20% of the $136.1 billion in total sovereign wealth fund spending globally last year (2024).

Amit Ganorkar new CEO & MD of TATA AIG General Insurance Company

TATA AIG General Insurance Company appointed Amit Ganorkar as its Chief Executive Officer and Managing Director.
Ganorkar succeeded Neelesh Garg after the approval of the Board of Directors.
Ganorkar has more than two decades of experience in the general insurance industry, especially in key sectors such as sales and distribution, as well as product development. He previously served as the Managing Director of Royal Sundaram General Insurance. Ganorkar has also served as the Chief Operating Officer at TATA AIG.

Manish Singhal New Secretary General of ASSOCHAM

The Associated Chambers of Commerce and Industry of India (ASSOCHAM), one of the country's oldest business chambers, appointed Manish Singhal as its new Secretary General. Singhal brings over 35 years of experience in both corporate India and chambers of commerce, having previously served as the Deputy Secretary General of the Federation of Indian Chambers of Commerce and Industry (FICCI).
His extensive career includes stints with major Indian transnational companies such as Tata Motors, Eicher (Volvo), Tata Auto Comp Systems, Moser Baer India, and BEML. Singhal succeeds Deepak Sood, who led ASSOCHAM for the last five years, steering the chamber to success and establishing a solid financial foundation.
ASSOCHAM, established in 1920, plays a crucial role in policy advocacy and strengthening India's economic ecosystem.

Jan 02, 2025

Rikant Pittie New CEO of EaseMyTrip

Ease Trip Planners, also known as EaseMyTrip, an online travel technology platform, announced the appointment of Rikant Pittie as its Chief Executive Officer (CEO) and co-founder, succeeding his brother Nishant Pitti.
Nishant Pitti stepped down as the CEO of the company effective January 1, citing personal reasons.
In his new role, Rikant Pittie will oversee the company's strategic initiatives, drive innovation, and enhance customer experiences to further strengthen EaseMyTrip's position in the industry.

Jan 01, 2025

India's Adani Green CEO to Step Down for New Role in Group

Adani Green Energy's Chief Executive Officer Amit Singh will step down to take up the role of the Chief of the international energy business of the Adani Group.
He will be replaced by Ashish Khanna starting April 1, who is the current CEO of the group's international energy business.
Amit Singh, who has previously worked as a director at the oilfield services company SLB, was appointed as Adani Green's CEO in May 2023.

Dec 31, 2024

DPIIT Partners with boAt to Boost Start-up Ecosystem in India

The Department for Promotion of Industry and Internal Trade (DPIIT) entered a strategic partnership with boAt, a prominent Indian audio and wearables brand, to foster innovation and support DPIIT-recognised start-ups, especially in the Direct-to-Consumer (D2C) and manufacturing sectors. This collaboration aims to provide essential mentorship, resources, and guidance, helping start-ups scale both locally and internationally. With boAt's industry expertise and the government's backing, the initiative is poised to empower the Indian start-up ecosystem.
DPIIT and boAt will create tailored programs to mentor start-ups, innovators, and entrepreneurs. These initiatives will cover critical stages like prototype development, offering expert guidance and hands-on support.

Reliance Acquires Karkinos Healthcare

In a strategic move to bolster its healthcare portfolio, Reliance Industries, led by Mukesh Ambani, acquired oncology-focused platform Karkinos Healthcare for Rs. 375 crore. This acquisition, completed through Reliance Strategic Business Ventures Ltd (RSBVL), is a significant step towards expanding the company's reach in cancer detection, diagnosis, and treatment.
Reliance's subsidiary RSBVL acquired 10 million equity shares and 36.5 million optionally fully convertible debentures of Karkinos, with the transaction entirely in cash.
Karkinos, founded in 2020, specialises in providing innovative technology-driven solutions for early cancer detection and management. It has partnered with around 60 hospitals and is setting up a 150-bed cancer hospital in Imphal, Manipur.

Dec 29, 2024

Akums Group Signs 200 Million Euro Deal for European Market Expansion

Akums Group, India's largest contract development and manufacturing organisation (CDMO), entered into a 200 million euro (Rs. 1,760 crore) partnership with a global pharmaceutical major to manufacture and supply a range of pharmaceutical formulations for the European market.
The company will receive an upfront payment of 100 million euro (Rs 880 crore) to support product development and secure European regulatory approvals for its oral liquid manufacturing facility.
The collaboration involves the production of multiple SKUs of oral liquid formulations at Akums' manufacturing facilities in India, which will be marketed by the partner company across various European countries.

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