Current Affairs - Business

Larsen & Toubro (L&T) has secured a significant order from ITER for a nuclear fusion project based in France. This project involves L&T’s expertise in assembling advanced components for the Vacuum Vessel, a crucial part of ITER’s Tokamak fusion reactor, which is essential for nuclear fusion experiments. Through this collaboration, formalized by an MoU, L&T will contribute to pioneering advancements in fusion technology, supporting global efforts in sustainable energy innovation.

Hindalco Industries, a leading player in the metals sector and part of the Aditya Birla Group, has joined the International Copper Association. As a major producer of copper and aluminium, Hindalco manufactures copper cathodes and continuous-cast copper rods for domestic and international markets. With the CEO of Copper Business being Rohit Pathak, the company's membership in ICA underscores its commitment to global cooperation and best practices in the copper industry. Founded in 1958, Hindalco has established itself as a key player in India's metals landscape.

Reliance Industries, led by Mukesh Ambani, has collaborated with Nvidia to establish a robust AI infrastructure in India, aligning with the Prime Minister's vision of self-sufficiency in AI development. This partnership leverages India's vast IT talent, digital data, and youthful population, aiming to position the country as a leading intelligence market. The initiative involves deploying Nvidia's GB 200 supercomputer technology for large-scale AI capabilities. With Jio's affordable data and robust connectivity infrastructure, Reliance Industries is poised to drive India's transformation into an intelligence-driven economy, which is estimated to generate immense value between $500 billion and $700 billion annually.

Zydus Lifesciences has obtained in-principle approval from the World Health Organization (WHO) for its Typhoid Vi conjugate vaccine, ZyVac TCV. This approval allows the vaccine to be eligible for procurement by the United Nations, marking a significant achievement for the company. Manufactured at Zydus Biotech Park in Ahmedabad, ZyVac TCV is designed to provide protection against Salmonella typhi for individuals aged 6 months to 65 years. This development highlights Zydus Lifesciences' commitment to addressing public health challenges through innovative vaccine solutions.

China has surpassed other nations to become India's largest import source between April and September 2024, with imports valued at USD 56.29 billion, marking an 11.5% increase from the previous year. This significant trade development underscores China's substantial presence in India's import market. India's import landscape is diversified, with Russia and the UAE also featuring among key import sources. Conversely, the US remains India's top export destination, highlighting the complexities of India's international trade relationships.