Current Affairs - Business

Zoho, an Indian software firm headquartered in Tamil Nadu, is planning a significant $700 million investment in chipmaking. Seeking incentives from the Government of India, Zoho aims to manufacture compound semiconductors with specialized commercial applications, utilizing alternatives to silicon.

Industry experts predict that India's internet economy will reach $1 trillion by 2030, driven primarily by the booming e-commerce sector expected to grow from $60 billion in FY2023 to $325 billion.

Nayara Energy intends to invest Rs 600 crore in establishing ethanol manufacturing plants in Andhra Pradesh and Madhya Pradesh. This initiative aligns with the government's target of achieving 20% ethanol blending by FY26, showcasing the company's commitment to sustainable energy practices.

Mahindra & Mahindra Ltd, commonly known as M&M, is gearing up to invest ₹26,000 crore in its automotive business over the next three years. This investment will focus on developing new vehicles and enhancing production capacity, reflecting the company's ambitious growth plans.

PhonePe has partnered with LankaPay to enable UPI payments in Sri Lanka, allowing users to transact at LankaPay QR merchants. This initiative aims to provide a familiar and secure payment method for Indian tourists and business travellers, enhancing their convenience while travelling in Sri Lanka.