Current Affairs - Business

SIAM's 3rd International Conference on Sustainable Circularity highlighted the importance of promoting electric vehicles (EVs) as a step towards achieving sustainability and green job creation. The conference underscored initiatives like the FAME and PLI schemes, which aim to increase EV adoption and achieve 35% EV sales by 2030. This goal is part of India's broader strategy to reduce environmental impact, promote a circular economy, and transition towards cleaner energy sources. By setting 2030 as the target year, the government demonstrates its commitment to fostering economic growth while addressing climate change and reducing dependency on fossil fuels.

BMW India unveiled its first locally-produced electric vehicle, the BMW X1 Long Wheelbase All Electric, at the Bharat Mobility Global Expo 2025. Manufactured at BMW's Chennai plant, this EV features a 66.4 kWh battery, a PMSM electric motor delivering 204 hp, and a claimed range of 531 km. The launch signifies BMW's commitment to sustainable mobility and the growing EV market in India.

PV Sindhu, a two-time Olympic medallist and global badminton icon, has partnered with PUMA India in a multi-year collaboration, marking the brand's official entry into the badminton domain. This partnership highlights PUMA's commitment to promoting badminton in India, where the sport has a rapidly growing fan base of 57 million. Sindhu's legacy of achievements, including her Olympic medals and World Championship title, positions her as the perfect ambassador for the brand. The collaboration aims to inspire young athletes, launch innovative badminton gear, and expand PUMA’s presence in India's burgeoning sports market.

Shriram Housing Finance has rebranded itself as Truhome Finance after being acquired by Warburg Pincus and Qatar Investment Authority (QIA), with a ₹1,225 crore investment. This strategic rebranding aligns with the company’s vision to enhance accessibility to affordable home loans, particularly in Tier 2 to Tier 4 cities. The new identity underscores a commitment to trust, transparency, and customer-centric services while setting ambitious growth targets for assets under management and disbursements. The initiative also aims to boost the company’s presence in non-metro regions, making homeownership more accessible across India.

DPIIT, under the Ministry of Commerce & Industry, has joined forces with ITC Limited, a leading Indian conglomerate, to bolster the startup ecosystem in the country. This strategic partnership aims to facilitate the growth of startups by promoting technological innovations and ensuring sustainable market opportunities. ITC’s diversified expertise across various sectors provides startups with a robust platform to scale their operations, access mentorship, and unlock market potential, aligning with the government’s vision of fostering innovation and entrepreneurship at a national level. This collaboration underscores ITC's commitment to supporting emerging businesses and driving economic progress.