General Awareness

BUSINESS AND ECONOMY - July 2024

Jul 2024

Oct 28, 2025

New GDP Series to Map India's Digital Economy and Gig Sector

India's economy has changed dramatically over the past decade and its statistics are finally catching up. The government plans to roll out a new GDP series early next year that will better reflect the country's growing digital footprint, from e-commerce and gig work to logistics and digital payments.
Officials said that the upcoming series, which will shift the base year from 2011–12 to 2022–23, will include richer data on services and unincorporated enterprises, capturing the transformation of India's economy in far greater detail.

Global Urban Leaders Convene in Dubai for Historic Asia Pacific Cities Summit

More than 15,000 urban leaders, policymakers, and innovators from over 600 cities worldwide converged Expo city Dubai as the 2025 Asia Pacific Cities Summit and Mayors' Forum officially opened, marking a historic first for the event in the Middle East, Africa, and South Asia region.
The three-day summit, running through October 29, brings together 118 mayors, deputy mayors, business executives, and young professionals under the banner 'Collaborate. Inspire. Transform'. Organised by Brisbane City Council at the legacy site of Expo 2020 Dubai, the gathering represents the 15^th edition of a summit with a 30-year tradition of fostering urban innovation and cross-regional cooperation.

NITI Aayog Extends Support to Indian Rice Exporters Federation's Bharat International Rice Confer...

In a significant step towards strengthening India's agricultural trade and enhancing the country's global leadership in rice exports, NITI Aayog extended its support to the Indian Rice Exporters Federation (IREF) for organising the Bharat International Rice Conference (BIRC) 2025. The prestigious event will take place on October 31, 2025, at Bharat Mandapam, New Delhi.
The conference, a flagship initiative by IREF, aims to bring together policymakers, exporters, scientists, researchers, and international trade representatives under one platform to deliberate on innovation, sustainability, and strategies to boost India's export competitiveness.

Amazon Deepens Ties with Govt. to Boost e-commerce Exports; Signs MoUs with FIEO and Gujarat MSME...

The Amazon Global Selling India strengthened its partnership with the government to accelerate the country's e-commerce export ecosystem, signing new Memorandums of Understanding (MoUs) with key export and MSME bodies, Srinidhi Kalvapudi.
An MoU was signed with the Federation of Indian Export Organisations (FIEO), the apex body of exporters in India. It also signed an MoU with the MSME Commissionerate of Gujarat.

Reliance, Meta Launch Enterprise AI Joint Venture

In a tech partnership, Reliance Industries and Meta Platforms announced a Rs. 855 crore joint venture to build enterprise-grade AI products. The new entity, named Reliance Enterprise Intelligence Limited (REIL), will develop and scale AI solutions for business clients in India and selected global markets. This collaboration is seen as part of a larger push towards 'Made-in-India' digital infrastructure, amid ongoing India–US trade tensions and increasing global demand for trusted AI ecosystems.
The joint venture will focus on building scalable AI products tailored for enterprises, such as,
AI-driven automation tools
Predictive analytics platforms
Customer service chatbots
Generative AI models optimised for Indian markets

Oct 27, 2025

RBI Approves Reappointment of C. S. Rajan as Kotak Mahindra Bank's Part-time Chairman

The Reserve Bank of India (RBI) approved the reappointment of C. S. Rajan as part-time Chairman of Kotak Mahindra Bank Limited for another term beginning January 1, 2026, until October 21, 2027.
Rajan has been serving as part-time Chairman since January 1, 2024, following his appointment as an Independent Director on the Bank's Board in October 2022.

RBI Launches Global Hackathon 'HaRBInger 2025'

The Reserve Bank of India (RBI) launched a global hackathon, HaRBInger 2025 – Innovation for Transformation, to leverage emerging technologies to build innovative, secure, and user-centric financial solutions. It is aimed to protect customer identity and foster trust.
HaRBInger 2025, the RBI's fourth global hackathon, is centred around the theme 'Secure Banking: Powered by Identity, Integrity, and Inclusivity'. The RBI invited entities and individuals to develop solutions using technology and innovative approaches under three problem statements- Tokenized KYC, Offline CBDC, and enhancing trust.

India Maritime Week (IMW) 2025)

The India Maritime Week 2025 (IMW 2025) is being held from October 27 to 31 at the NESCO Grounds (Bombay Exhibition Centre) in Mumbai. The event is organised by the Ministry of Ports, Shipping and Waterways (MoPSW) in partnership with the Indian Ports Association. This five-day event running will convene business leaders, government officials, industry experts and international delegates under the theme 'Uniting Oceans, One Maritime Vision'.
Union Home Minister Amit Shah inaugurated the event, joined by the Chief Ministers of key coastal states — Devendra Fadnavis (Maharashtra), Bhupendra Patel (Gujarat), Pramod Sawant (Goa) and Mohan Charan Majhi (Odisha).
This biennial mega event will spotlight India's growing leadership in the global maritime ecosystem, drive strategic dialogues, and unlock transformative investment opportunities worth over USD 82 billion across the sector.

Oct 26, 2025

Karthik Narain Joins Google Cloud as Chief Product Officer

Karthik Narain, a former Accenture Chief Technology Officer, was appointed as the Chief Product and Business Officer of Google Cloud. The announcement was welcomed by Google CEO Sundar Pichai, who expressed optimism that Narain's leadership will help accelerate the company's growth in AI and cloud services. This strategic hire came as Google Cloud deepens its enterprise offerings and expands its AI capabilities globally.
Karthik Narain brings with him over 25 years of experience in the technology and consulting industry.
Before joining Google, he served as the CTO of Accenture, where he led AI, data, and cloud innovation at a global scale.
He also held key roles at HCLTech and other major technology firms, building a reputation for deep expertise in enterprise systems and business transformation.

Oct 25, 2025

Blackstone Affiliate Buys 9.99% Stake in India's Federal Bank

An affiliate of U.S. private equity major Blackstone bought a 9.99% stake in India's Federal Bank via preferential equity shares and warrants for 61.97 billion rupees ($705.05 million).
The Federal Bank also approved the granting of a special right to Blackstone affiliate to nominate one retiring non-executive director on the Board upon exercise of all the warrants by the firm.

DPIIT Signs MoU with Kotak Mahindra Bank to Enhance Financial, Non-financial Support for Start-ups

The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, signed a Memorandum of Understanding (MoU) with Kotak Mahindra Bank Ltd. to enhance financial and non-financial support for start-ups across India.
This strategic collaboration aims to create a comprehensive framework enabling start-ups to access customised banking solutions, credit and funding opportunities, digital and payment infrastructure, and capacity-building programs.
Under the MoU, Kotak Mahindra Bank will extend a range of dedicated offerings for DPIIT-recognised start-ups, including zero-balance current accounts, working capital and term loans, API-based banking platforms, digital payment solutions, and specialised start-up cards. The Bank will also facilitate access to mentorship, investment advisory, incubation support, and networking platforms, helping startups progress from ideation to scale.

Oct 24, 2025

ET Make in India SME Regional Summit to Debut in Raipur

Raipur, the capital city of Chhattisgarh, is set to host its first ET Make in India SME Regional Summit on October 30, 2025. The city has its stronghold in mineral-based industries like steel, iron and cement. It also serves as a major commercial hub for agriculture, agro-processing, forest products, and solar energy.
The Summit will begin with a keynote address on the topic 'The Chhattisgarh growth story: Empowering MSMEs for Viksit Bharat'.
This is the third annual edition of the ET Make in India Regional Summit series. In its inaugural year, the programme covered Ahmedabad, Chennai, and Hyderabad. The previous edition expanded its reach to 16 cities. This edition will cover 20 cities, including Thane, Nagpur, Nashik, Kochi and Baroda.

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