General Awareness

BUSINESS AND ECONOMY - May 2024

May 2024

Jan 15, 2026

Make in India drive showcased at SteelFab 2026 in Sharjah

Ahead of the Make in India push, the Indian pavilion at SteelFab 2026 in Sharjah highlighted the country’s steel fabrication and metalworking capabilities. The event, running January 12–15, spotlighted 31 Indian exhibitors and 54 total Indian participants, emphasizing machine tools, welding technologies, automation, and fabrication services. The pavilion served as a platform for B2B meetings and live demonstrations, connecting Indian manufacturers with Gulf, African, and regional buyers. Exhibitors showcased advanced tools and solutions, signaling India’s growing role in global manufacturing and the government’s efforts to expand export-oriented industry partnerships.

Make in India showcased at SteelFab 2026, Sharjah
31 Indian exhibitors; 54 total Indian participants
Focus on welding, automation, and fabrication tech
B2B meetings and live demos with Gulf and regional buyers

TVS SCS appoints Vikas Chadha as Global CEO from January 22, 2026

TVS Supply Chain Solutions announced the appointment of Vikas Chadha as Global CEO, effective January 22, 2026. Chadha succeeds Ravi Viswanathan, who will retire during the 2026–27 financial year. The leadership transition follows a formal succession process led by the board and its Nomination and Remuneration Committee. Previously CEO at Dubai-based Jumbo Electronics, Chadha brings extensive international experience to TVS SCS as it scales its supply chain and logistics services globally. The announcement highlighted continuity in strategy and the company’s ongoing focus on expanding global footprints and enhancing operational excellence.

Vikas Chadha appointed Global CEO of TVS SCS, effective Jan 22, 2026.
Succeeds Ravi Viswanathan, who retires in 2026–27.
Chadha previously led Jumbo Electronics (Dubai).
Board-led succession process ensured leadership continuity.
Aims to expand global footprint and operational excellence.

Intersec 2026 in Dubai showcases firefighting robots and AI security tech

Intersec 2026, the security and safety trade fair in Dubai, concluded with a demonstration of firefighting robots, AI innovations, and cyber-security tools. The event drew more than 1,200 exhibitors from over 60 countries and attracted tens of thousands of visitors. Highlights included Dubai Civil Defence’s advanced firefighting robots and robotic dogs for emergency response. Experts discussed regional security challenges and technology-driven solutions across five sectors: homeland security, cyber, perimeter security, fire and rescue, and health and safety. The exhibition reinforced how technology is shaping protective services and public safety in the Middle East and beyond.

Intersec 2026 concluded in Dubai
Showcased firefighting robots and AI safety tech
1,200+ exhibitors; 60+ countries; 50,000+ visitors
Five core sectors highlighted: security, cyber, rescue, health

IOCL-BPCL JV discovers oil in Abu Dhabi Onshore Block 1

Indian Oil Corporation Limited (IOCL) and Bharat Petroleum’s exploration arm, Bharat PetroResources (BPCL), through the Urja Bharat Pte Limited venture, reported new oil discoveries in Abu Dhabi’s Onshore Block 1. UBPL, a 50:50 SPV, completed the exploration phase after investing about $166 million since securing the concession in 2019. The latest finds include unconventional oil resources in the Shilaif play (XN-76) and exploratory well XN-79 02S (Habshan carbonate). The block spans roughly 6,162 square kilometres, with UBPL holding full concession rights. The discoveries strengthen India’s overseas upstream portfolio and energy security strategy.

IOCL-BPCL joint venture UBPL discovers oil in Abu Dhabi
Block Onshore 1; 50:50 SPV UBPL
Invested ~$166 million since 2019 concession
Finds include Shilaif play XN-76 and XN-79 02S

TVS Supply Chain Solutions names Vikas Chadha as Global CEO

TVS Supply Chain Solutions announced the appointment of Vikas Chadha as Global CEO, effective January 22, 2026. The Chennai-based firm confirmed a planned leadership transition following the retirement of Ravi Viswanathan, the current Managing Director. Chadha previously served as CEO of Jumbo Electronics in Dubai and will lead a multi-national team across the supply chain services company. The move aligns with enterprise succession planning and growth strategies as the company expands its logistics network and digital offerings. Industry observers expect Chadha to drive expansions in new markets, technology-enabled solutions, and cross-border operations.

Vikas Chadha named Global CEO of TVS SCS
Effective January 22, 2026; successor to Ravi Viswanathan
Chadha previously led Jumbo Electronics (Dubai)

Swiggy and Zepto drop '10-minute' delivery claim after government order

Swiggy and Zepto have altered branding around their '10-minute' delivery service following a government directive. The government ordered Eternal's Blinkit, Zepto, and Swiggy to stop promoting grocery deliveries as a '10-minute' service due to safety concerns about riders and wage implications for rapid deliveries. Industry analysts describe the branding change as optics-driven rather than fundamentally altering business models. The move highlights regulatory scrutiny in the fast-delivery segment, which remains valued at about $11.5 billion. Despite branding adjustments, analysts say core delivery capabilities and logistics networks remain largely unchanged, though operators will need to emphasize safety and fair compensation.

Regulators require removal of '10-minute' branding claims
Concerns over rider safety and wages cited
Industries see branding changes as optics-driven
Fast-delivery market valued at ~$11.5 billion
Core operations remain unless further policy actions occur

Jan 14, 2026

Karnataka Bank enables Khajane-2 payments via net banking

Karnataka Bank announced it has enabled Khajane-2 government e-receipts payments through its internet banking platform. The move aligns with state and central digital payment initiatives, offering customers a secure and convenient way to settle government receipts. The bank emphasized its commitment to digital services, aiming to simplify transactions for individuals and businesses, while reinforcing security and reliability. The feature complements existing mobile and branch-based payment options and is expected to improve user experience and reduce processing times for government payments.

Karnataka Bank enables Khajane-2 payments via net banking
Aligns with state and central digital payment initiatives
Aims to simplify government receipts for customers
Emphasis on security, reliability, and convenience
Supports digital transformation in public finance

Nissan strengthens India leadership with Sabbagh appointment

Nissan announced a leadership reshuffle in its AMIEO region, expanding Thierry Sabbagh’s responsibilities to include India as Divisional Vice President and President for Middle East, KSA, CIS, and India—Nissan and Infiniti. The changes take effect on January 1, 2026. The company frames India as central to its 2026 plan, with a forecast of three new models—GRAVITE, TEKTON, and a 7-seater C-SUV—within 14 to 16 months. The move underlines Nissan’s push to regain momentum in the Indian market and strengthen its manufacturing, sales, and after-sales footprint across the region.

Thierry Sabbagh appointed Divisional VP and President for India
Effective January 1, 2026; India central to 2026 plan
Three new models expected within 14–16 months
Strategic emphasis on refreshed operations in AMIEO region
India leadership move signals growth ambitions

Jan 13, 2026

Websol Renewable to build 8 GW solar manufacturing complex in Naidupeta

Websol Renewable Private Limited (WRPL) received government approval to establish a fully integrated 8 GW solar manufacturing facility in Naidupeta, Tirupati district, Andhra Pradesh. The project comprises 4 GW solar cells and 4 GW solar modules on a 120-acre site, with total investment of ₹3,538 crore. Development will occur in two phases, targeting commercial production by July 2027 and July 2028. The facility aims to boost domestic solar supply chains, reduce imports, and support India’s renewable energy growth. The GoAP stated the project would create jobs and advance the state’s clean energy goals.

WRPL to build 8 GW solar manufacturing complex in Naidupeta.
Facility: 4 GW cells + 4 GW modules on 120 acres.
Total investment: ₹3,538 crore; two-phase development.
Production scheduled July 2027 and July 2028.
Aims to strengthen India’s domestic solar supply chain.

Akzo Nobel India appoints Parth Jindal as chairman; board approves leadership changes

Akzo Nobel India announced the appointment of Parth Jindal as Chairman, effective 9 January 2026. Jindal is currently managing director of JSW Paints and JSW Cements. JSW Paints acquired a majority stake in Akzo Nobel India in a ₹12,915 crore deal last year, making JSW the promoter. The board also redesignated Rajiv Rajgopal as joint managing director and chief executive officer, effective 9 January 2026. Rajgopal previously served as chairman and managing director. Akzo Nobel India remains a leading paints and coatings company, best known for Dulux paints. The leadership changes come as the group pursues growth and integration strategies.

Parth Jindal appointed Chairman, effective 9 January 2026.
Jindal also MD of JSW Paints and JSW Cements.
JSW Paints acquired majority stake in Akzo Nobel India for ₹12,915 crore.
Rajiv Rajgopal redesignated as joint MD and CEO, effective 9 January 2026.
Company continues to market Dulux paints in India.

Jan 12, 2026

Google teams with Walmart, Shopify and others to add shopping in Gemini AI chatbot

Google said on Sunday that it is expanding shopping features in its Gemini AI chatbot by partnering with Walmart, Shopify, Wayfair and other large retailers to turn the Gemini app into a virtual merchant as well as an assistant. An instant checkout function will let customers buy from participating businesses without leaving the chat, using a range of payment providers. The announcement was made on the first day of the National Retail Federation’s annual convention in New York, where AI in e-commerce was a central topic. Walmart’s incoming president and CEO John Furner, and Alphabet chief Sundar Pichai, described this as the next evolution in retail.

Gemini AI chatbot will host shopping from multiple major retailers including Walmart, Shopify and Wayfair.
Instant checkout feature enables purchases directly within Gemini chat without switching apps.
Payments will be processed through a variety of providers, without leaving the chat interface.
Announcement coincides with the National Retail Federation convention in New York.
Company executives frame agent-led commerce as a key future trend in retail.

CIO Mahesh Patil steps down from Aditya Birla Sun Life AMC after 21 years

Mahesh Patil has resigned as Chief Investment Officer at Aditya Birla Sun Life AMC after 21 years with the fund house. He announced on LinkedIn that he is leaving to pursue personal goals and will hand over responsibilities to his successors. Patil oversaw assets under management of about Rs 4.5 lakh crore and noted that the leadership team would continue to meet investor expectations. He named Harish Krishnan (CIO Equity), Kaustubh Gupta (CIO Fixed Income) and Sunaina da Chuna (Co CIO Debt) as his potential successors. The transition comes amid a broader phase of succession planning at the company.

Mahesh Patil resigns as CIO of Aditya Birla Sun Life AMC after 21 years.
Leaves to pursue personal goals; handover to named successors.
Managed roughly Rs 4.5 lakh crore in AUM.
Successors named: Harish Krishnan, Kaustubh Gupta, Sunaina da Chuna.
Resignation signals ongoing leadership succession planning.

NLCIL wins SKOCH Gold award for financial performance

NLC India Limited (NLCIL) has won the SKOCH Gold award for financial performance, announced at the 105th SKOCH summit in New Delhi. The award recognises strong financial management, operational efficiency and consistent value creation for stakeholders. NLCIL, a Navaratna CPSE under the Ministry of Coal, emphasised transparency and accountability in its reporting and governance practices. The accolade reflects the company’s efforts to maintain financial discipline while supporting energy production and diversification strategies in India’s coal and power sectors.

NLCIL receives SKOCH Gold award for financial performance.
Award announced at the 105th SKOCH summit, New Delhi.
Honours financial management, efficiency and stakeholder value.
NLCIL is a Navaratna CPSE under the Ministry of Coal.
Highlights governance and transparency in corporate performance.

Macquarie India head Abhishek Poddar resigns; second senior exit in months

Abhishek Poddar, managing director and country head-India at Macquarie Asset Management, has resigned after an eight-year tenure. He is currently on gardening leave and is expected to formally exit by the end of January. This marks the second senior-level departure from Macquarie India in recent months, following the December resignation of Deep Gupta after nearly 18 years with the group. The leadership churn at the Australia-headquartered asset manager’s India franchise highlights restructuring within the firm’s local operations as it navigates evolving market conditions and investment strategies.

Abhishek Poddar resigns as MD-India at Macquarie Asset Management.
Exit planned by end of January; Poddar is on gardening leave.
Second senior departure from Macquarie India in recent months.
Follow-up leadership changes include earlier departure of Deep Gupta.
Indicates ongoing leadership churn within Macquarie’s India franchise.

Jan 11, 2026

Meesho announces resignation of Megha Agarwal from CXO (business) role

Meesho, the Indian e‑commerce platform, announced the resignation of Megha Agarwal, the CXO (business) and a senior management executive. Agarwal had been with Meesho for more than six years, joining the company in 2020 and serving in several leadership roles across growth, strategy and business functions. She held posts including chief of staff, vice president and general manager – user growth, and CXO–growth before taking on the CXO, business role in October 2023, succeeding Utkrishta Kumar, who left after a five‑year stint to pursue his own fintech venture. Meesho said it will begin a search for a replacement and continue pursuing its growth roadmap. The company did not share further details about the departure.

Meesho confirms Megha Agarwal's resignation from CXO (business).
Agarwal joined Meesho in 2020 and served in multiple leadership roles.
Prior roles included chief of staff and VP–GM for user growth.
Took the CXO, business role in October 2023 after Utkrishta Kumar's exit.

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