Current Affairs - Business

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.

Google announced the $15 billion America-India Connect initiative at the India AI Impact Summit 2026 to significantly strengthen digital and artificial intelligence connectivity between India and the United States. The project includes the establishment of a new international subsea gateway in Vizag, along with three new subsea cable routes connecting India to Singapore, South Africa, and Australia, and four strategic fibre-optic land routes. This large-scale infrastructure investment is designed to increase bandwidth, enhance network redundancy, support AI model training, improve cloud computing capabilities, and promote secure cross-border digital services.

GalaxEye entered into a significant data reseller partnership with NewSpace India Limited (NSIL), becoming the first private Indian satellite operator to formalise such collaboration. Under this agreement, NSIL will globally resell GalaxEye’s satellite imagery portfolio, particularly its advanced SyncFused OptoSAR technology, which integrates optical imagery with Synthetic Aperture Radar data. This enables high-precision, all-weather, day-and-night Earth observation. The partnership strengthens India’s New Space economy by combining public-sector commercialisation channels with private innovation, enhancing global access to Indian geospatial intelligence solutions across agriculture, disaster management, infrastructure planning, and environmental monitoring sectors.