Current Affairs - Business

REC Limited (Rural Electrification Corporation), a Maharatna CPSE under the Ministry of Power, has collaborated with RVNL, pledging Rs. 35,000 Crores for various infrastructure projects over the next 5 years, reflecting their commitment to sectoral development.

Adidas is strategically setting up its first and only Global Capacity Centre (GCC) in Asia outside of China, and the chosen location is Tamil Nadu. This move reflects the trend of multinational corporations selecting India, specifically Tamil Nadu, as a prime destination for establishing their GCCs.

The 10th edition of the Vibrant Gujarat Global Investors Summit, taking place from January 10 to 12, 2024, features the theme "Gateway to the Future." Notably, the Chief Guest for the event will be President Mohamed Bin Zayed of the UAE.. This theme emphasizes the summit's crucial role as a platform for global policymakers, diplomats, business leaders, and investors to collaborate, form partnerships, and explore diverse investment opportunities, thereby contributing to shaping a promising future.

The 'National Single Window System (NSWS)' for simplifying medical device imports in India has been developed by Tata Consultancy Services (TCS), providing a centralized platform and enhancing the ease of doing business. Tata Consultancy Services (TCS) has developed the 'National Single Window System (NSWS)' for India's Central Drugs Standard Control Organisation (CDSCO).

Ola Electric, the IPO-bound electric scooter company, met the stringent criteria of the PLI scheme, including a minimum of 50% domestic value addition to its electric vehicles (e2W). This significant achievement positions Ola Electric as the first Indian e-scooter company to gain approval, opening avenues for potential financial benefits and reinforcing its role in advancing sustainable mobility in India.