Current Affairs - Business

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.

Hero MotoCorp collaborated with Thums Up, a popular soft drink brand by The Coca-Cola Company, to launch the limited-edition Mavrick 440 Thunderwheels motorcycle. This partnership aims to appeal to young consumers with its bold design and adventurous spirit. The special edition bike, available until November 15, 2024, features a unique look inspired by Thums Up, supported by endorsements from cricket stars like Jasprit Bumrah and Rishabh Pant. The campaign focuses on combining Hero’s innovation with Thums Up’s essence of excitement and adventure.

Dassault Aviation, renowned for its Rafale fighter planes, has expanded its presence in India by establishing Dassault Aviation MRO India (DAMROI), a wholly-owned subsidiary focused on customized MRO services for the Indian Air Force's Rafale and Mirage 2000 fleets. This move aligns with India's strategic objectives, including promoting indigenous capabilities, supporting the "Make in India" initiative, and contributing to the "Skill India" scheme. DAMROI will leverage Dassault's technological expertise and foster local collaboration, enhancing India's aerospace and defence capabilities.

Wabtec Locomotive Private Limited, a joint venture between Indian Railways and Wabtec, is set to begin exporting Evolution Series locomotives from its Marhowra plant in Bihar to Africa by 2025. This plant, established in 2018, has already manufactured approximately 650 locomotives and will produce ES43ACmi locomotives featuring a 4,500 HP engine. The joint venture underscores Wabtec's significant presence in India's locomotive manufacturing sector and its expansion into international markets. This development highlights the growing collaboration between Indian Railways and global industry leaders like Wabtec.