Current Affairs - Business

The cooperative sector has launched a new taxi service named ‘Bharat’ with the objective of competing directly with established players like Ola and Uber. This initiative involves eight major cooperatives, including the National Cooperative Development Corporation, under the banner of the Multi-State Sahakari Taxi Cooperative Ltd. With a financial backing of ₹300 crore and a starting fleet of 200 drivers operating across four states, the rollout is expected by the end of 2025. This move aims to strengthen the presence of cooperative ventures in the transport sector while promoting more community-driven economic models in public services.

ACKO, a leading digital insurance provider in India, has partnered with Tesla to provide insurance solutions for its electric vehicles as the company enters the Indian market. This collaboration is aimed at offering a seamless, fully digital insurance experience, from policy purchase to claim settlement. The plans will be specifically tailored to suit the unique requirements of electric vehicles, including Tesla’s high-performance models. By integrating insurance into the EV purchase process, this move simplifies car ownership and supports the broader adoption of electric mobility in India, aligning with the country's sustainability and clean energy goals.

The United Kingdom is set to invest €163 million in Eutelsat, acquiring a 10.89% stake in the satellite communication firm. Eutelsat, backed by the Bharti Group, is the world’s second-largest satellite communications provider, positioned as a competitor to Starlink. This investment increases Eutelsat’s capital raise from €1.35 billion to €1.50 billion and reflects the UK’s strategic move to diversify its state ownership in critical communication infrastructure. Alongside the UK’s investment, Bharti is also contributing an additional €150 million, reinforcing the company's global positioning and financial stability in the space communication industry.

Tesla is set to mark its formal entry into the Indian market by launching its first experience centre in Mumbai. The showroom will be located in the Bandra Kurla Complex (BKC), one of the city's major commercial hubs. This strategic move comes as Tesla begins testing the Indian market with electric vehicle (EV) and merchandise imports worth around $1 million, mainly sourced from China and the United States. While no manufacturing commitment has been made yet, the Mumbai launch is significant as it signals Tesla's intent to establish a strong retail presence and gauge consumer interest in India’s growing EV sector.

Adani Power Ltd acquired the 600 MW Vidarbha Unit, located in Nagpur, Maharashtra, for ₹4,000 crore through the insolvency resolution process. This acquisition, completed on July 7, 2025, was approved by the National Company Law Tribunal and adds significantly to the company’s growing energy portfolio. The Vidarbha Unit, formerly operated by Vidarbha Industries Power Ltd, consists of two 300 MW units powered by domestic coal. This strategic purchase increases Adani Power’s total operating capacity to 18,150 MW, reinforcing its position as India’s largest private thermal power producer and aligning with its target of reaching 30,670 MW by 2030.