Current Affairs - Business

DPIIT, under the Ministry of Commerce & Industry, has joined forces with ITC Limited, a leading Indian conglomerate, to bolster the startup ecosystem in the country. This strategic partnership aims to facilitate the growth of startups by promoting technological innovations and ensuring sustainable market opportunities. ITC’s diversified expertise across various sectors provides startups with a robust platform to scale their operations, access mentorship, and unlock market potential, aligning with the government’s vision of fostering innovation and entrepreneurship at a national level. This collaboration underscores ITC's commitment to supporting emerging businesses and driving economic progress.

Swiggy introduced the 'Snacc' app on January 7, 2025, offering 15-minute delivery of snacks, beverages, and meals in select Bengaluru areas. This new initiative aims to capture a share of the rapidly growing quick-commerce sector, competing with services like Zomato's Blinkit, Zepto Cafe, and Magicpin’s ‘magicNOW’. Unlike Swiggy's existing feature, Bolt, 'Snacc' operates as a standalone app with centralized locations to ensure fast delivery. The move intensifies competition in the quick-commerce industry, highlighting the growing demand for rapid food delivery services.

Microsoft has announced a significant $3 billion investment to boost AI and cloud infrastructure in India, a move aligned with the Prime Minister's vision for a developed India by 2047. This initiative focuses on multiple areas, including skilling 10 million Indians in AI by 2030, fostering innovation through partnerships that support 5,000 startups, and expanding data centre capabilities. The investment will enhance India's technological landscape, with a new data centre region set to be operational by 2026. Microsoft's commitment highlights India's growing importance as a hub for global technology innovation and AI development.

Suzuki Motor Corporation has acquired a 26% stake in NDDB Mirda Ltd, a bio-gas venture developed by the National Dairy Development Board (NDDB). This strategic investment aligns with Suzuki's goals to utilize Compressed Bio-Gas (CBG) for improving the performance and longevity of vehicles. The partnership also reflects Suzuki’s commitment to sustainability by investing in alternative fuel sources. Furthermore, Suzuki has the provision to gradually increase its stake to 49%, showcasing its long-term dedication to this environmentally friendly initiative.

HDFC Bank has been granted approval by the Reserve Bank of India (RBI) to acquire up to a 9.5% stake in Kotak Mahindra Bank and other banks through its group entities. This strategic move follows the merger of HDFC Bank with its parent company, HDFC, in July 2023, which expanded its financial portfolio. The approval is valid until January 2, 2026, and aligns with HDFC Bank’s efforts to diversify investments and build stronger partnerships in the financial sector. This initiative also complements the bank's focus on enhancing deposits and managing its loan-to-deposit ratio.