General Awareness

BUSINESS AND ECONOMY - May 2024

May 2024

May 21, 2026

India Surpasses US as Bangladesh’s Second-Largest Trading Partner

Latest trade data show India becoming Bangladesh’s second‑largest trading partner, narrowly ahead of the United States by February 2026. India accounted for about 8.47 percent of Bangladesh’s total external trade, equivalent to roughly Tk 123.28 billion, while the United States stood at 8.46 percent (around Tk 123.17 billion). China remains the largest partner. The shift underscores growing regional trade links and India’s expanding export footprint in Bangladesh. Analysts note the margin is slim, but the trend could influence future tariff decisions, supply chains, and regional partnerships between the two neighbors.

By February 2026, India: 8.47% of Bangladesh’s external trade.
United States: 8.46%; margin is narrow.
China remains the largest trading partner for Bangladesh.
Potential implications for tariffs and regional supply chains.

May 20, 2026

Maharashtra signs MoUs for 25,400 MW nuclear projects

On 19 May 2026, Maharashtra signed Memorandums of Understanding with four companies to develop 25,400 MW of nuclear capacity. The parties are NTPC Limited, Adani Power Limited, Reliance Industries Limited and Lalitpur Power Generation Company Limited. Projects include a 6,000 MW plant at Barsu, Ratnagiri (Adani Power) with an investment of about Rs 1.5 lakh crore; a 7,200 MW Bharat Small Reactor plan at Purnagadh, Ratnagiri (Reliance) costing around Rs 2 lakh crore; NTPC proposing 7,200 MW with Rs 1 lakh crore; and Lalitpur 5,000 MW with Rs 2 lakh crore. The package is expected to generate about 1.23 lakh jobs, alongside broader industrial growth.

Four firms sign 25,400 MW nuclear project MoUs.
Projects include Barsu 6,000 MW and 7,200 MW SMR plans.
Investments: Rs 1.5 lakh cr, Rs 2 lakh cr, Rs 1 lakh cr, Rs 2 lakh cr.
Estimated jobs: ~1.23 lakh.
Part of Maharashtra’s energy diversification strategy.

Mahindra & DBS launch sustainability-linked dealer financing scheme

On 19 May 2026, Mahindra & Mahindra and DBS Bank India launched India’s first sustainability-linked dealer financing programme for the automotive sector. The scheme ties loan terms to environmental, social and governance performance and sales targets of authorised Mahindra dealerships. It offers preferential interest rates based on ESG metrics, including greenhouse gas emissions tracking, water consumption, renewable energy adoption, rainwater harvesting, waste management and public EV charging facilities. Higher eSUV sales also influence financing terms. Scope covers dealer networks as part of a broader decarbonisation effort. The programme aligns with a wider ESG framework used in corporate lending and aims to incentivise lower-emission dealership performance.

First sustainability-linked dealer financing programme in India.
Loan terms linked to ESG performance and sales targets.
Metrics include emissions tracking, water, renewables, rainwater harvesting.
Public EV charging and higher eSUV sales favorable for terms.
Targets decarbonisation across Mahindra dealership network.

May 18, 2026

Tata Electronics and ASML sign partnership to enable India's first 300 mm semiconductor fab in Dh...

Tata Electronics and ASML signed a strategic partnership to support India’s first commercial 300 mm semiconductor fabrication facility in Dholera, Gujarat. The agreement was witnessed by Prime Minister Narendra Modi and Dutch Prime Minister Rob Jetten, highlighting high-level political attention to India’s chip ambitions. ASML will provide advanced lithography tools and manufacturing solutions essential for the Dholera plant, which is under construction as part of Tata Electronics’ push to establish a domestic semiconductor ecosystem. The collaboration complements Tata Electronics’ long-running partnership with Powerchip Semiconductor Manufacturing Corporation (PSMC) for technology transfer and capability building and aims to accelerate ramp-up of India’s first front-end fab.

Partnership to support India’s first 300 mm semiconductor fab in Dholera.
ASML to supply lithography tools and manufacturing solutions.
MoU witnessed by Prime Minister Narendra Modi and Dutch PM Rob Jetten.
Dholera facility under construction as part of India’s domestic chip push.
Collaboration complements PSMC for technology transfer and capability building.

May 16, 2026

Rupee hits record low as oil worries rise in May 2026

The rupee touched a record low near 96 per US dollar on 14 May 2026 as energy prices stayed high and global markets remained volatile. Analysts cited elevated crude costs and inflation pressures as primary drivers. The slide added to import costs and could influence policy discussions on exchange-rate management and energy subsidies. Market participants noted cautious trading ahead of key domestic and international events. Government and central bank officials signaled readiness to intervene if needed, while monitoring the macro backdrop created by energy-market tensions in West Asia.

Date: 14 May 2026; currency near 96 per USD.
Drivers: High crude prices, inflation, global volatility.
Impact: Higher import costs; potential policy considerations on exchange rate.
Market reaction: Cautious trading; possible government intervention if required.
Context: Part of broader energy-security concerns.

Rajasthan inaugurates first semiconductor cluster in Bhiwadi

Rajasthan’s first semiconductor cluster was inaugurated in Bhiwadi, Alwar district, on 15 May 2026. The facility, located in Salarpur Electronics Manufacturing Cluster, is launched by Sahasra Semiconductors Pvt Ltd. It has an annual packaging capacity of 60 million units and specializes in Assembly, Testing, Marking and Packaging (ATMP) and Outsourced Semiconductor Assembly and Test (OSAT). The project sits on 29.58 acres and includes memory products. This unit forms part of India’s broader semiconductor ecosystem, which spans design, fabrication, assembly, testing, marking and packaging, linking wafer fabrication to final product delivery.

Inauguration date: 15 May 2026.
Location: Salarpur Electronics Manufacturing Cluster, Bhiwadi, 29.58 acres.
Operator: Sahasra Semiconductors Pvt Ltd.
Capacity: 60 million units annually for ATMP/OSAT.
Context: Part of India’s expanding semiconductor ecosystem.

May 15, 2026

Airtel appoints Mittal as chairman through 2031; Godrej to continue as independent director

Bharti Airtel announced through a board decision on 13 May 2026 that Sunil Bharti Mittal will continue as chairman for a five-year term starting October 2026, subject to shareholder approval, extending his tenure through 30 September 2031. Nisaba Godrej will also serve a second five-year term as an independent director, with appointments due to commence in August and October 2026, respectively. Mittal’s current term was set to end on 30 September 2026 before the new term begins. The company indicated these leadership moves will proceed with shareholder consideration at the upcoming approvals process.

Mittal to serve as Airtel chairman 2026–2031, subject to approval.
Nisaba Godrej to continue as independent director; terms start Aug/Oct 2026.
Board meeting held on 13 May 2026.
Mittal’s current term ends 30 September 2026; new term to follow.
Leadershi p continuity ahead of approvals.

FinBox unveils Atlas AI-native lending platform to cut loan timelines

FinBox has unveiled Atlas, an AI-native lending infrastructure platform designed to dramatically shorten loan processing times and boost borrower completion rates. The Mumbai-based fintech says Atlas automates critical stages of loan origination to address long approval cycles, bottlenecks, and high drop-offs in India’s rapidly growing digital lending market. In early deployments, Atlas reportedly cuts processing timelines from about three weeks to 24 hours and adapts to borrower language, behavior, and document availability. Early metrics show an 85% application completion rate, most applications finished under 10 minutes, credit turnaround dropping from 21 days to 1 day, 60% fewer file send-backs, and first-time-right processing above 95%.

Atlas automates key loan origination stages to speed approvals.
Reported processing time reduced from ~21 days to 24 hours.
84–85% application completion rate with many applications under 10 minutes.
File send-backs reduced by 60%; first-time-right processing above 95%.
Platform adapts to borrower language and document availability.

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