General Awareness

BUSINESS AND ECONOMY - September 2024

Sep 2024

Oct 31, 2026

Bahram Vakil appointed Chairman of Trent Limited

Trent Limited appointed Bahram Vakil as its next Chairman, effective 12 November 2026, succeeding Noel N. Tata. Tata will retire as Chairman and Director on 11 November 2026 after nearly 29 years with the company and will become Chairman Emeritus. Vakil is the co-founder of AZB & Partners, a prominent Indian law firm. Trent Limited, part of the Tata Group, operates major fashion and lifestyle brands including Westside and Zudio. The leadership transition comes as the retailer seeks growth in a competitive market, leveraging Vakil’s legal expertise and corporate leadership experience.

Bahram Vakil to become Chairman on 12 November 2026.
Noel N. Tata retires on 11 November 2026 after 29 years.
Vakil is co-founder of AZB & Partners.
Trent Limited operates Westside and Zudio brands.
Part of the Tata Group; leadership change supports growth strategy.

Oct 30, 2026

Vijay Sankar Appointed FICCI President-Elect for 2026–27

On 29 October 2026, the Federation of Indian Chambers of Commerce and Industry (FICCI) named Vijay Sankar, chairman of the Sanmar Group, as President‑Elect for 2026–27. The decision was announced at the association's National Executive Committee meeting. Sankar will succeed Anant Goenka as President after the Annual General Meeting and Convention scheduled for 18–19 November 2026 in New Delhi. FICCI is a leading industry body representing Indian businesses and promoting growth and investment. The appointment places Sankar at the helm of policy advocacy and industry collaboration during a period of high domestic demand and export opportunities for the coming year.

Announcement on 29 October 2026
Vijay Sankar chairs the Sanmar Group
Sankar to succeed Anant Goenka after AGM on 18–19 November 2026
FICCI role: policy advocacy and industry collaboration
Context: strong domestic demand and export opportunities

Oct 28, 2026

Wabtec Secures $94 Million Vande Bharat Sleeper Order

Wabtec Corporation, a US‑based railway technology company, secured orders worth about $94 million (₹839 crore) from Indian Railways in October 2026. The contract covers braking systems, doors and gangway solutions for 24‑coach Vande Bharat Sleeper trains built by the Integral Coach Factory (ICF) in Chennai. The project aims to enhance passenger safety, reliability and maintenance efficiency as part of India’s railway modernisation programme. The deal highlights growing collaboration between Indian Railways and global suppliers to upgrade rolling stock and accelerate project timelines.

Wabtec won orders worth roughly $94 million from Indian Railways.
Contract covers braking systems, doors and gangway solutions for 24‑coach Vande Bharat Sleeper trains.
Built by ICF in Chennai, India.
Goal: improve safety, reliability and maintenance efficiency as part of railway modernisation.

LTTS Signs Five‑Year R&D Pact with Nokia

L&T Technology Services (LTTS) signed a five‑year engineering and R&D agreement with Nokia in October 2026. The deal includes establishing a dedicated Offshore Development Centre (ODC) in India to support Nokia’s global R&D operations. The collaboration will cover 5G networks, artificial intelligence, intelligent automation, software development, product engineering and system integration. The partnership strengthens India's role in advanced telecommunications research and creates opportunities for engineers and startups in the country. The ODC will enable closer cooperation with Nokia and speed up new product development for telecom networks worldwide.

Five‑year engineering and R&D agreement between LTTS and Nokia.
ODC to be established in India to support Nokia’s global R&D.
Focus areas: 5G, AI, intelligent automation, software development, product engineering, system integration.
Aims to strengthen India’s position in telecom R&D and industry collaboration.

Oct 27, 2026

PM Modi Inaugurates Arvind Limited Textile Plant in Varanasi

Prime Minister Narendra Modi inaugurated a textile manufacturing plant of Arvind Limited at Khochwan, Mirzamurad, in Varanasi, Uttar Pradesh, during October 2026. The facility, developed at an estimated cost of ₹150 crore, covers about 7–8 acres and marks the company's first major manufacturing unit in Purvanchal. Officials say the plant will boost local industry, create jobs, and strengthen regional value chains in eastern Uttar Pradesh. The project aligns with government priorities to accelerate industrial development in the region, expand exports, and promote inclusive growth by integrating traditional textile skills with modern production capabilities.

Arvind Limited opens a ₹150 crore textile plant in Varanasi (Khochwan, Mirzamurad).
Facility spans approximately 7–8 acres; first major unit in Purvanchal.
Expected to create jobs and boost regional manufacturing capabilities.
Aligns with government focus on industrial development in eastern UP.
Part of broader efforts to combine traditional skills with modern production.

Oct 24, 2026

Paytm Partners with AU Small Finance Bank to Launch RuPay Credit Card

One97 Communications, Paytm's parent, partnered with AU Small Finance Bank to launch a lifetime-free co-branded RuPay credit card. The card offers rewards on eligible Paytm UPI transactions and provides complimentary airport lounge access for family travel booked via Paytm. It carries no joining or annual fees and features QR-based lounge entry. The offer targets India’s mobile-first consumers and aims to expand digital payments, broaden access to credit and enhance travel benefits for Paytm users.

Partnership: Paytm with AU Small Finance Bank.
Product: lifetime-free RuPay credit card.
Rewards: up to 2% on Paytm UPI spends; 5% on Travel and Gold.
Family lounge access: up to 12 visits per year; QR-based entry.
No joining or annual fee.

India-New Zealand Free Trade Agreement Comes Into Force

The India-New Zealand Free Trade Agreement comes into force on 20 October 2026. The pact eliminates tariffs on about 95% of New Zealand exports to India and is expected to boost bilateral trade, with NZ projecting about US$20 billion in investments over 20 years. The agreement also expands visa commitments for Indian professionals and students; dairy products face certain tariff limits. The FTA aligns with broader push to deepen trade corridors in the Indo-Pacific region.

FTA between India and New Zealand enters into force on 20 Oct 2026.
Tariffs removed on about 95% of NZ exports to India.
NZ commitments: ~US$20 billion in investments over 20 years.
Indian workers: visa commitments expanded.
Dairy products remain tariffed in some cases.

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