Current Affairs - Business

Tata AIG launched CyberEdge, a comprehensive cyber insurance solution aimed at protecting Indian businesses, particularly SMEs, from the growing threat of cyber risks. The product provides extensive coverage, including data recovery, legal fees, and business interruption losses. Tata AIG’s goal is to capture 25% of the cyber insurance market in the next five years. With cyberattacks on the rise in India, this initiative is timely, offering essential protection to businesses vulnerable to cyber threats, including small and medium enterprises that often lack strong cybersecurity measures.

Walmart launched strategic pilot programs with Indian startups to enhance its US supply chain and sourcing operations. The selected startups include KBCols Sciences from Pune, GreenPod Labs from Chennai, and Cropin from Bengaluru. This initiative focuses on leveraging innovative solutions to build a more resilient global supply network, showcasing Walmart’s commitment to fostering innovation and collaboration in its operations.

DPIIT has signed an MoU with Apna to support DPIIT-registered startups by offering skilled manpower. Through this partnership, each of the 7,00,000 entities on Bhaskar receives ₹2,000 in hiring credits on Apna, amounting to an initial value of ₹140 crore. These credits allow startups to post job openings and leverage Apna's AI-driven talent-matching tools. As the startup ecosystem expands, the initiative's potential worth could increase to ₹300 crore, helping startups efficiently recruit talent and grow their businesses.

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.