Current Affairs - Business

Steel Authority of India Limited (SAIL), a Maharatna Central Public Sector Enterprise, has entered into a partnership with The Art of Living to improve employee well-being. The collaboration focuses on delivering structured programs that emphasise emotional resilience, mindfulness, and leadership development. These initiatives are designed to help employees manage stress effectively, enhance productivity, and foster a more harmonious workplace environment. By aligning individual well-being with organizational growth, SAIL aims to build a healthier, more motivated workforce. This initiative also reflects the growing emphasis on mental health and holistic development in India’s corporate and public sector ecosystem.

Adani Power has partnered with Druk Green Power Corporation to establish a 570MW hydroelectric project in Bhutan with a massive investment of Rs 6,000 crore. The project will be developed under the BOOT (Build, Own, Operate, Transfer) model, ensuring long-term sustainability and infrastructure development in the region. The agreements, including a power purchase agreement and concession agreement, were signed in the presence of Bhutan’s Prime Minister Dasho Tshering Tobgay and Adani Group Chairman Gautam Adani. This collaboration strengthens the energy cooperation between India and Bhutan, supporting clean power generation and promoting regional energy security in South Asia.

Tata Consultancy Services (TCS), India’s largest IT services firm, has launched a new Artificial Intelligence and Services Transformation Unit to strengthen its AI-led business strategy. This unit aims to consolidate TCS’ existing AI capabilities, create domain-specific AI solutions, drive IT operational efficiency, and enhance partnerships in the AI ecosystem. Amit Kapur, a seasoned TCS leader with over 20 years of experience and prior head of the UK & Ireland business, has been appointed as the unit’s head. The move positions TCS as a frontrunner in India’s IT industry, setting a benchmark for rivals while accelerating AI adoption for global clients.

Reliance Industries is spearheading one of the world’s largest clean energy transformations by setting up massive solar, hydrogen, and battery gigafactories in Jamnagar and Kutch. The company’s solar project in Kutch, covering 550,000 acres (about three times the size of Singapore), is designed to become a national powerhouse capable of meeting nearly 10% of India’s electricity needs. Alongside, Reliance is establishing battery and electrolyser gigafactories to drive large-scale renewable energy production. These initiatives not only position Reliance as a leader in clean energy but also aim to make India a global hub for green hydrogen and its derivatives.

National Aluminium Company Limited (NALCO), a public sector enterprise under the Ministry of Mines, has announced an investment of ₹300 billion (~$3.43 billion) to establish a new aluminium smelter in Odisha and a coal-based power plant. This five-year investment plan will be financed through a combination of debt and internal accruals. Of the total, ₹180 billion is dedicated to the smelter while ₹120 billion is earmarked for the power plant. The project aims to strengthen India’s aluminium production capacity, reduce dependence on imports, and create thousands of jobs. Odisha’s rich bauxite reserves and industrial base make it an ideal location for this strategic expansion.