Current Affairs - Business

The Ministry of Skill Development and Entrepreneurship has partnered with Swiggy to launch a program aimed at enhancing skilling and employment opportunities for Swiggy's delivery partners and restaurant staff. This initiative will provide training through the Skill India Digital Hub (SIDH) and aims to benefit around 2.4 lakh individuals. The collaboration focuses on improving skills in the logistics and retail sectors, contributing to the overall growth and employment prospects within Swiggy's network.

The Adani Group, in partnership with Israel’s Tower Semiconductor, will invest $10 billion in a semiconductor plant in Maharashtra, India. This significant project is part of India's efforts to boost domestic chip production and establish itself as a global hub for semiconductors. The plant aims to produce 40,000 wafers initially, contributing to India's growing semiconductor market, which is projected to reach $63 billion by 2026.

Alembic Pharmaceuticals received approval from the US Food and Drug Administration (USFDA) for its Albendazole Tablets USP (200 mg), a generic version of Impax Laboratories' Albenza. This approval allows Alembic Pharma to market its generic tablets, which are used to treat infections such as parenchymal neurocysticercosis and cystic hydatid disease caused by worm larvae. The approved ANDA (Abbreviated New Drug Application) is therapeutically equivalent to Impax Laboratories' Albenza tablets.

Paysharp, a rising fintech startup from Tamil Nadu, achieved a significant milestone by securing final authorization from the Reserve Bank of India (RBI) on August 30, 2024. This authorization strengthens its position in India's payment system ecosystem, marking the company's journey from preliminary authorization in December 2022 to becoming one of the 36 authorized payment aggregators in the country. This achievement highlights Tamil Nadu’s growing presence in India's fintech sector.

FlixBus, a Germany-based travel-tech company, is expanding its operations into South India, connecting major cities like Bengaluru, Hyderabad, and Chennai. With a focus on affordable, safe, and eco-friendly intercity travel solutions, FlixBus aims to connect 33 cities and 215 stops across India. This expansion marks a significant milestone for the company, which has partnered with local bus operators to offer services in Tamil Nadu, Karnataka, and Andhra Pradesh. Germany's FlixBus is poised to transform India's intercity travel landscape with its innovative approach.