Current Affairs - Business

ABB is a global automation and electrification company headquartered in Switzerland. The company announced a $75 million investment in India for 2026 as part of its “local-for-local” strategy, which focuses on strengthening domestic manufacturing and research capabilities. This investment builds on a previous $35 million investment in 2025 and contributes to more than $230 million invested in India over the last decade. The expansion will enhance facilities across multiple locations, including Bengaluru, Hyderabad, Nashik, and Vadodara. These investments will support innovation in areas such as sustainable mobility, high-speed rail propulsion, power technologies, and advanced research while also creating around 300 new skilled engineering and research jobs in India.

Adani Group was selected as the official partner for UNESCO’s World Engineering Day for Sustainable Development (WED) 2026. This recognition marks the first time an Indian organization has been chosen for this global partnership coordinated by the World Federation of Engineering Organizations under UNESCO. The selection highlights the company’s contributions to renewable energy and sustainable engineering solutions. A major factor behind this recognition is the massive Khavda Renewable Energy Project in Gujarat, being developed by Adani Green Energy Limited. The project aims to reach a capacity of 30 GW by 2029, making it one of the largest renewable energy projects in the world and supporting India’s clean energy goals.

BMW Ventures Limited secured a ₹36 crore contract to supply fabricated steel products for a major project executed by Bharat Heavy Electricals Limited (BHEL). The order signifies the company’s strategic expansion into large-scale infrastructure and power sector projects, moving beyond its traditional operational scope. The contract includes the supply of structural steel fabrication and related critical components essential for thermal or industrial infrastructure initiatives. The execution timeline is estimated at 12–18 months, enhancing the company’s order book strength, revenue visibility, and positioning within India’s rapidly growing infrastructure and energy sector.

PhonePe introduced an AI-powered natural language search feature on 20 February 2026, leveraging Microsoft Foundry to enhance user experience within its application. The feature allows users to perform tasks such as payments, recharges, navigation, and transaction tracking through simple voice or text-based commands. By using intent-based queries, the platform transitions from a purely transactional interface to a more intelligent and personalised system. Built on a hybrid on-device and cloud model, the solution ensures data security while improving accessibility, convenience, and discoverability for millions of users across India through a phased rollout.

L&T Vyoma signed a Memorandum of Understanding with the Gujarat government during the India AI Impact Summit 2026 to study the feasibility of establishing a 250 MW green AI-ready data centre at Dholera Special Investment Region. The proposed ₹25,000 crore project aims to strengthen AI infrastructure, cloud computing capabilities, and sustainable digital ecosystems in the state. The study will evaluate land suitability, infrastructure readiness, availability zones, and sustainability aspects before final execution. The initiative aligns with Gujarat’s IT/ITeS Policy and India’s broader digital transformation and renewable energy goals, targeting operational readiness by 2028.