General Awareness

BUSINESS AND ECONOMY - March 2024

Mar 2024

Jan 26, 2026

Ganesh Lakshminarayanan named CEO-designate of Tata Communications

Tata Communications has named Ganesh Lakshminarayanan, formerly with Airtel Business, as CEO-designate. After regulatory approvals, he will be appointed MD and CEO of the company. He will succeed AS Lakshminarayanan, who retires on April 13, 2026. Lakshminarayanan brings more than 30 years of experience with multinational corporations, B2B start-ups and Indian enterprises. The appointment aligns with Tata Communications’ leadership transition plans as the company continues to expand its digital infrastructure and global connectivity services.

New CEO-designate: Ganesh Lakshminarayanan
Current role: former Airtel Business executive
Target start: after regulatory approvals
Outgoing MD/CEO: AS Lakshminarayanan
Retirement date: April 13, 2026
Experience: 30+ years

Jan 24, 2026

Guardian India appoints Karunakaran Azhisur as India Head

Guardian India Operations Private Limited has appointed Karunakaran Azhisur as Country Head for India. In this role, he will report to Chief Strategy Officer and Chair of the Guardian India Board, while continuing to serve as Chief Information Officer for Guardian India. The appointment is part of Guardian Life Insurance’s global operations, with support from the executive team. Michael Prestileo, Guardian India’s Chief Strategy Officer, praised Karunakaran's experience and leadership, saying his appointment will advance the company’s technology strategy and innovation for policyholders. Azhisur is expected to lead digital transformation initiatives and strengthen customer services in the Indian market globally.

Karunakaran Azhisur appointed as Guardian India Country Head.
He remains Chief Information Officer for Guardian India.
Reports to the Chief Strategy Officer and Chair of the Guardian India Board.
Appointment aligns with Guardian Life Insurance’s global operations.
Leadership praised for driving technology strategy and innovation.

Jan 23, 2026

Deepinder Goyal Steps Down as Eternal Group CEO; Dhindsa to Succeed

Deepinder Goyal will step down as CEO of Eternal Group, with Albinder Singh Dhindsa slated to replace him as chief executive from February 1, 2026. Goyal will move to a non‑executive role as Director and Vice Chairman, pending shareholder approval. The board’s filing notes the transition, with Dhindsa assuming leadership from February 1, 2026. The move signals a strategic leadership shift for the group, with ongoing governance changes and potential changes in corporate strategy as the company aligns with market dynamics and investor expectations. Further details of governance transitions will be shared post‑approval.

Deepinder Goyal to step down as Eternal Group CEO.
Aldbinder Singh Dhindsa to become CEO from Feb 1, 2026.
Goyal to become Director and Vice Chairman pending approvals.
Governance transition signals strategic corporate restructuring.

HPCL to Purchase LNG from ADNOC Gas under $3 Billion 10-Year Pact

Hindustan Petroleum Corporation Ltd (HPCL) has signed a $3 billion deal to buy LNG from ADNOC Gas of the United Arab Emirates, making ADNOC Gas a principal supplier. The Sales and Purchase Agreement (SPA) was signed during a brief visit to India by UAE President Sheikh Mohammed bin Zayed Al Nahyan for talks with Prime Minister Narendra Modi. The agreement reinforces energy trade ties between India and the UAE and secures long‑term LNG supplies for India’s growing energy needs. The pact will help HPCL diversify its gas portfolio and stabilize pricing over the decade.

HPCL signs $3 billion LNG SPA with ADNOC Gas.
Long‑term supply arrangement for 10 years.
Announced during UAE President’s visit to India.
Strengthens India‑UAE energy trade relations.
Diversifies HPCL LNG sourcing portfolio.

RBI Clears Kaizad Bharucha’s Reappointment as HDFC Bank Whole‑Time Director

The Reserve Bank of India (RBI) approved Kaizad Bharucha’s reappointment as Whole‑Time Director (Deputy Managing Director) of HDFC Bank for a three‑year term from April 19, 2026. The regulatory filing states RBI’s approval was issued on January 20, 2026. Bharucha’s reappointment follows a period of governance shifts in Indian banking and is expected to support strategic oversight and risk management at India’s leading private sector lender. The bank will seek shareholder confirmations as required for the appointment to take effect.

RBI approves Bharucha’s 3-year WTD term.
Term begins April 19, 2026.
Regulatory approval granted January 20, 2026.
Implications for governance at HDFC Bank.

IMTEX Forming 2026 Inaugurated at BIEC, Bengaluru

The ninth IMTEX Forming 2026 exhibition opened at the Bangalore International Exhibition Centre (BIEC) in Bengaluru. Running January 21–25, the event gathers 714 exhibitors from 24 countries to showcase metal forming technologies. Co‑located shows include Tooltech, Digital Manufacturing, Weldexpo, and Moldex India. Organized by the Indian Machine Tool Manufacturers’ Association (IMTMA), the five‑day program aims to accelerate manufacturing innovation, automation, and export readiness. Industry leaders and policymakers are attending to discuss technology adoption, supply chains, and workforce development for India’s evolving metal forming sector.

IMTEX Forming 2026 opened at BIEC, Bengaluru.
714 exhibitors from 24 countries; Jan 21–25.
Co‑located shows: Tooltech, Digital Manufacturing, Weldexpo, Moldex India.
Focus on manufacturing innovation and export readiness.

Jan 22, 2026

Emirates NBD to acquire majority stake in RBL Bank

Mumbai, 22 January 2026 — Emirates NBD has received clearance from the Competition Commission of India to acquire a majority stake in RBL Bank, potentially taking 51 to 74 percent of the lender’s voting capital. The deal involves a complex open offer of up to 26 percent and a proposed amalgamation of Emirates NBD’s Indian banking operations with RBL Bank. The transaction would consolidate retail, corporate and institutional banking under a larger financial group, subject to regulatory approvals. Emirates NBD operates in India via branches, while RBL Bank provides a range of financial services and a GIFT City unit.

Proposed stake: 51%–74% in RBL Bank; through open offer up to 26%
Structure: Amalgamation of Emirates NBD India with RBL Bank
Authors: Regulatory approvals required (SEBI/ RBI/ CCI as applicable)
Current players: Emirates NBD in India; RBL Bank portfolio
Implication: Potential consolidation in Indian private banking

Jan 21, 2026

UP signs MoUs at Davos on clean energy, AI and defence

Uttar Pradesh secured MoUs worth ₹9,750 crore at the World Economic Forum in Davos, signaling a push toward clean energy, artificial intelligence and defence manufacturing. The state delegation, led by finance and parliamentary affairs minister Suresh Khanna, engaged with investors through Invest UP. Key deals include an ₹8,000 crore waste-to-energy project by SAEL Industries, ₹1,600 crore from Sify Technologies for an AI-ready data centre and an AI City in Noida, and ₹150 crore with Yeoman for defence systems. The government anticipates further MoUs in AI, quantum computing and renewable energy moving ahead.

UP MoUs at Davos total ₹9,750 crore.
Major deals: waste-to-energy (₹8,000 crore), AI data centre and AI City (₹1,600 crore).
Defence manufacturing agreement with Yeoman (₹150 crore).
Invest UP leads the state’s investment promotion efforts.

Palantir inks deal with HD Hyundai worth hundreds of millions

Palantir Technologies has clinched a deal to supply software to HD Hyundai, boosting the U.S. firm’s presence in Korea’s heavy-industries sector. The agreement, reportedly valued at hundreds of millions of dollars over multiple years, will enhance data analytics and digital capabilities across Hyundai’s shipbuilding and manufacturing operations. Reuters cited anonymous sources for the figure. Company executives described the partnership as a strategic milestone in advancing industrial digital transformation in Korea, positioning Palantir as a preferred provider for large-scale data integration, analytics, and operational optimization in critical manufacturing sectors.

Palantir signs multi-year software deal with HD Hyundai.
Deal value described as hundreds of millions of dollars (per Reuters).
Aims to boost data analytics and digital capabilities in heavy industries.
Strengthens Palantir’s role in Korea’s manufacturing ecosystem.

Maharashtra signs MoUs worth ₹14.5 lakh crore at Davos

Maharashtra signed 19 memorandums of understanding worth ₹14.5 lakh crore on day one at the World Economic Forum in Davos. Investments span green energy, food processing, steel manufacturing, IT-ITES, data centres, electric vehicles, shipbuilding and digital infrastructure. The government said the deals could create about 15 lakh jobs in the state over time. Chief Minister Devendra Fadnavis announced that more MoUs are expected in AI, quantum computing, digital infrastructure, FinTech and renewable energy over the next two days, underscoring the state’s ambition to attract large-scale investment and technological shifts.

19 MoUs worth ₹14.5 lakh crore signed at Davos (WEF 2026).
Sectors include green energy, steel, EVs, data centres and IT-ITES.
Estimated job potential: about 15 lakh in the state.
Additional MoUs expected in AI, quantum computing, digital infra and renewables.

Hyderabad to host L’Oréal’s beauty-tech GCC

Hyderabad will host L’Oréal’s global beauty-tech Global Capability Centre (GCC) in Telangana. The state government plans to invest to set up the GCC with beauty technology as a niche area later this year. L’Oréal Chief Executive Officer Nicolas Hieronimus discussed the project with Chief Minister A. Revanth Reddy during a Davos meeting, confirming continued collaboration. The Telangana GCC will focus on product development, digital services and innovation in beauty tech, strengthening the state’s role in the global cosmetics market. The project aligns with Telangana’s broader push to attract high-value knowledge-based industries and create skilled employment.

Telangana to host L’Oréal beauty-tech GCC in Hyderabad.
Investment planned to establish the GCC this year.
Nicolas Hieronimus discussed the project with CM in Davos.
GCC focus: product development, digital services, beauty tech innovation.

India ranks sixth in Asia Manufacturing Index 2026

India ranks sixth among 11 Asian economies in the Asia Manufacturing Index (AMI) 2026, released by Dezan Shira & Associates. The report places India behind Malaysia, which moved to second, with Vietnam slipping to third. Singapore rises to fourth, while South Korea sits at fifth among developed economies. The AMI assesses eight pillars and 43 sub-parameters of manufacturing competitiveness, highlighting regional shifts and competition. The 2026 edition underscores the need for stronger policy support, infrastructure and investment momentum in India to close the gap with top regional players and sustain output growth across sectors.

AMI 2026 ranks India sixth among 11 Asian economies.
Malaysia ahead of India; Singapore and Korea among top three/five.
AMI evaluates eight pillars and 43 sub-parameters of manufacturing.

Raymond Lifestyle appoints Satyaki Ghosh as CEO

Raymond Lifestyle Limited announced on 21 January 2026 the appointment of Satyaki Ghosh as Chief Executive Officer, marking a key leadership change as the apparel maker pursues its next growth phase. Ghosh brings more than 25 years of experience across FMCG, textiles, retail and consumer businesses. He joins from the Aditya Birla Group, where he most recently led the Cellulosic Fashion Yarn division at Grasim Industries, guiding a large manufacturing operation with emphasis on efficiency and sustainability. Earlier at Aditya Birla, he headed Domestic Textiles and oversaw the Thai Acrylic Fibre business. In earlier years, he spent seven years with L’Oréal India in senior roles, including as Director of the Consumer Products Division, managing brands such as L’Oréal Paris, Garnier and Maybelline.

Satyaki Ghosh appointed CEO of Raymond Lifestyle; effective 21 January 2026.
Over 25 years’ experience across FMCG, textiles, retail and consumer sectors.
Most recently led Grasim’s Cellulosic Fashion Yarn as part of Aditya Birla Group.
Formerly headed Domestic Textiles and Thai Acrylic Fibre businesses within the group.
Earlier career includes seven years at L’Oréal India in senior roles.
Aims to steer Raymond Lifestyle through its next growth phase.

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