Current Affairs - Business

Amazon has signed a Memorandum of Understanding with the Department of Posts to enhance logistics capabilities and expand parcel delivery services across India. This partnership builds on an ongoing collaboration since 2013, leveraging DoP's extensive postal network to support Amazon's e-commerce operations and contribute to job creation. The MoU aims to improve operational efficiencies, share capacities, and utilize networks to boost delivery reach across India, thereby promoting the growth of e-commerce logistics.

Adani Group has formed a partnership with Google to supply renewable energy from its solar-wind hybrid project located in Khavda, Gujarat, starting in 2025. This collaboration is a significant step towards supporting Google’s ambitious goal of achieving 24/7 carbon-free energy and aims to reduce emissions. By leveraging Adani's extensive renewable energy capabilities, the partnership not only furthers Google’s sustainability objectives but also aligns with the broader initiative of decarbonization in industrial sectors. The partnership emphasizes the importance of collaboration in tackling climate change and promoting clean energy solutions.

Bharat Electronics Limited (BEL), in partnership with Israel Aerospace Industries (IAI), has created a joint venture named BEL IAI AeroSystems Private Ltd. This venture is focused on providing long-term product support for the Medium Range Surface-to-Air Missile (MRSAM) systems used by India's defense forces. The collaboration highlights the ongoing partnership between the two companies and aims to enhance India's defense capabilities, aligning with the government's initiative of ‘Atmanirbhar Bharat’ (self-reliant India). The MRSAM system plays a critical role in countering aerial threats for various branches of the Indian armed forces.

Reliance Group has announced plans to invest in Bhutan's renewable energy sector through its new company, Reliance Enterprises. The investment will focus on solar and hydropower projects, including a 500 MW solar plant and a 770 MW hydro project in collaboration with Druk Holding. This partnership marks a significant step in Bhutan's renewable energy journey and represents the largest foreign direct investment by an Indian company in the country. The projects aim to support Bhutan's net-zero goals and enhance sustainable energy solutions.

The Air India Group has merged Air India Express with AIX Connect, resulting in the formation of a stronger low-cost carrier under the unified brand "Air India Express." This strategic merger aims to consolidate operations and enhance the airline's ability to meet the increasing demand for air travel, particularly among younger travellers. The integration has expanded the airline's fleet, routes, and passenger capacity, positioning it for significant growth in the competitive low-cost carrier market. The successful collaboration with regulatory bodies ensured that the merger complied with all necessary standards, marking a crucial milestone for the Air India Group.