WEEKLY CURRENT AFFAIRS

 

BUSINESS & CORPORATE

1. Air India and Azerbaijan Airlines enter codeshare partnership

Air India signed a codeshare agreement with Azerbaijan Airlines, also known as AZAL, to improve air connectivity between India and Azerbaijan.

Key points:

• Air India will place its “AI” airline code on Azerbaijan Airlines’ daily services connecting:
  • Delhi–Baku
  • Mumbai–Baku
• Travellers will be able to book these flights under a single Air India itinerary.
• The arrangement will provide coordinated connections and a more convenient travel experience.
• The agreement was signed by:
  • Nipun Aggarwal, Chief Commercial Officer, Air India
  • Jamil Manizade, Chief Commercial Officer, Azerbaijan Airlines
• This became Air India’s 26th codeshare partnership.
• Azerbaijan Airlines is part of AZCON Holding.

About Air India:

• Founded: 1932 by J. R. D. Tata
• Headquarters: Gurugram, Haryana
• Owner: Tata Group since 2022

2. Jupiter Wagons forms integrated rail-wheel manufacturing platform

Jupiter Wagons Limited partnered with Italy’s Lucchini RS Holding and development-finance institution SIMEST to establish India’s first fully integrated private-sector rail-wheel manufacturing platform.

Key points:

• The platform will operate through Jupiter Tatravagonka Railwheel Factory Private Limited, or JTRWF.
• Lucchini RS and SIMEST will acquire a combined 25% stake in JTRWF:
  • Lucchini RS: 15%
  • SIMEST: 10%
• The total investment is approximately:
  • EUR 28 million
  • Around ₹307 crore
• The platform will combine:
  • Jupiter Wagons’ existing facility at Chhatrapati Sambhajinagar, Maharashtra
  • Its upcoming greenfield manufacturing plant in Odisha
• Lucchini RS will provide engineering support, manufacturing technology, technology transfer and product-development expertise.
• The collaboration is supported under the Italian government’s Sistema Italia framework.
• Italy’s Cassa Depositi e Prestiti, or CDP, will provide financing and advisory support.
• The project is expected to reduce India’s dependence on imported railway wheels.

About Jupiter Wagons:

• Established: 1979
• Headquarters: Kolkata, West Bengal

3. IIT Hyderabad and Crimson Energy launch ANUGYAN programme

The Indian Institute of Technology Hyderabad and Crimson Energy Experts India Private Limited launched ANUGYAN, described as India’s first industry–academia nuclear-technology orientation programme.

Key points:

• ANUGYAN is a three-month residential programme.
• It is intended for:
  • Engineering graduates
  • Working professionals
  • Executives of public-sector enterprises
  • EPC contractors
  • Nuclear-equipment manufacturers
• Major subjects include:
  • Reactor physics
  • Thermal hydraulics
  • Radiation shielding
  • Nuclear safety
  • Small modular reactors
  • Regulatory compliance
  • Plant simulators
• The programme will familiarize participants with regulations administered by the Atomic Energy Regulatory Board.
• It aims to build skilled human resources for India’s nuclear-energy industry.
• India is working towards expanding its nuclear power capacity from approximately 8.8 GW to 100 GW by 2047.

4. BEL and Esri India collaborate on GIS and GeoAI solutions

Bharat Electronics Limited and Esri India Technologies signed a memorandum of understanding to develop geospatial and location-intelligence solutions for India’s defence and strategic sectors.

Key points:

• The partnership will combine:
  • BEL’s defence-electronics and system-integration expertise
  • Esri India’s GIS, digital-mapping and GeoAI capabilities
• The companies will work on solutions supporting rapid or surge deployment by defence forces.
• Proposed applications include:
  • Mission planning
  • Situational awareness
  • Asset monitoring
  • Location-based intelligence
  • Strategic infrastructure management
• Esri India will provide specialized training using its indigenous Indo ArcGIS technology.
• The MoU was exchanged by:
  • Rajnish Sharma, Director, Business Coordination and Additional Charge of Marketing, BEL
  • Agendra Kumar, Managing Director, Esri India

About BEL:

• Established: 1954
• Headquarters: Bengaluru
• Status: Navratna defence public-sector enterprise

About Esri India:

• Established: 1996
• Headquarters: Noida, Uttar Pradesh

5. REC and PFC provide ₹26,850-crore loan for Meja Thermal Project

REC Limited and Power Finance Corporation signed a common loan agreement worth ₹26,850 crore for the second-stage expansion of the Meja Thermal Power Project in Uttar Pradesh.

Key points:

• REC is serving as the lead financier.
• REC and PFC will provide equal shares of the sanctioned loan.
• The estimated total cost of the expansion is ₹38,357.81 crore.
• Stage II will add 2,400 MW of generating capacity through:
  • Three units of 800 MW each
• The new units will use ultra-supercritical thermal-power technology.
• An air-cooled condenser system will be installed to reduce water consumption.
• The project is operated by Meja Urja Nigam Private Limited, or MUNPL.
• MUNPL is a 50:50 joint venture between:
  • NTPC Limited
  • Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited
• The expansion is expected to strengthen power availability in Uttar Pradesh and the northern electricity grid.

6. ASSOCHAM signs agreements to promote international business cooperation

The Associated Chambers of Commerce and Industry of India signed separate memoranda of understanding with Business France and the India & Arab Countries Chamber of Commerce, Industry and Agriculture.

Key points:

• The agreements seek to expand commercial cooperation among India, France and Arab countries.
• Principal areas of cooperation include:
  • Bilateral and multilateral trade
  • Foreign direct investment
  • Industrial partnerships
  • Joint ventures
  • Technology collaboration
  • Market access
  • Business delegations
• The partnerships will help companies identify investment opportunities and suitable international business partners.
• They are also expected to improve institutional support for Indian companies entering French and Arab markets.

About ASSOCHAM:

• Established: 1920
• Headquarters: New Delhi

7. Lohia Aerospace and Massivit to establish large-format 3D-printing facility

Lohia Aerospace Systems Private Limited signed an MoU with Israel-based Massivit to establish India’s first commercial large-format additive-manufacturing facility.

Key points:

• The facility will be established in Kanpur, Uttar Pradesh.
• The companies plan to invest approximately USD 8–10 million over one to two years.
• The facility will manufacture:
  • Composite tooling
  • Aerospace moulds
  • Production tools
  • Large-format industrial components
• Massivit’s large-scale 3D-printing technology could reduce some production cycles by as much as 90%.
• Lohia Aerospace will hold exclusive rights to deploy the technology in India’s aerospace and defence sectors.
• Potential applications include:
  • Unmanned aerial vehicles
  • Manned aircraft
  • Aerospace components
  • Defence-manufacturing tools
• The collaboration supports the Make in India and Aatmanirbhar Bharat initiatives.

About Lohia Aerospace Systems:

• Established: 2019
• Headquarters: Kanpur, Uttar Pradesh

8. DPIIT signs five MoUs to strengthen India’s startup ecosystem

The Department for Promotion of Industry and Internal Trade signed five memoranda of understanding to provide technology, financial and mentoring support to Indian startups.

Partner organizations:

1. Cashfree Payments
2. Darwin Dynamics LLP
3. Vultr India Private Limited
4. Cars24 Services Private Limited
5. Council for Startup India

Key objectives:

• Expand access to digital-payment infrastructure.
• Provide cloud-computing services and technical credits.
• Support innovation, incubation and mentorship.
• Improve access to investors and funding opportunities.
• Help startups reach domestic and international markets.
• Promote corporate–startup collaboration.
• Provide sector-specific assistance to early-stage businesses.

DPIIT is the nodal department responsible for implementing the Startup India initiative, which was launched on 16 January 2016.

9. ONGC and Shell Energy India sign MoU for deep-water exploration

Oil and Natural Gas Corporation Limited and Shell Energy India Private Limited signed a non-binding memorandum of understanding to explore cooperation in offshore oil and gas exploration and LNG sourcing.

Key points:

• The agreement was signed on 10 August 2026.
• The companies will explore joint participation in:
  • Deep-water offshore blocks
  • Ultra-deep-water offshore blocks
  • Current and future oil and gas bidding rounds
• Cooperation may cover blocks offered under the Open Acreage Licensing Policy, including OALP Rounds X and XI.
• The companies will assess opportunities under the government’s Samudra Manthan initiative.
• They will also examine farm-in and farm-out opportunities involving ONGC’s existing OALP blocks.
• Under a farm-in arrangement, a company acquires an interest in an existing oil or gas block.
• Under a farm-out arrangement, an existing stakeholder transfers part of its interest to another company.
• ONGC and Shell will explore opportunities for sourcing Liquefied Natural Gas.
• The partnership seeks to:
  • Increase domestic energy exploration
  • Attract advanced international technology
  • Strengthen LNG availability
  • Support India’s transition towards a gas-based economy
  • Improve long-term energy security
• The MoU does not commit either company to a specific investment or project.

About ONGC:

• Established: 1956
• Headquarters: New Delhi
• Status: Maharatna central public-sector enterprise
• Sector: Oil and gas exploration and production

10. Airtel Business and ITI Limited collaborate on digital transformation

Airtel Business, the enterprise division of Bharti Airtel, entered into a strategic collaboration with ITI Limited to accelerate enterprise digital transformation and strengthen India’s digital infrastructure.

Key points:

• The collaboration combines:
  • Airtel Business’s enterprise-connectivity and digital-technology capabilities
  • ITI Limited’s engineering and manufacturing expertise
• The partnership was highlighted by:
  • Rajesh Rai, Chairman and Managing Director, ITI Limited
  • Sharat Sinha, Chief Executive Officer, Airtel Business
• The companies will jointly provide solutions in:
  • Enterprise connectivity
  • Data centres
  • Sovereign cloud services
  • Artificial intelligence
  • Internet of Things
  • Cybersecurity
  • Low-Earth-Orbit satellite services
• Infrastructure solutions will cover:
  • Optical Fibre Cable
  • Gigabit Passive Optical Network
  • Software-Defined Wide Area Networking
  • Private 4G and 5G networks
• Major target sectors include:
  • Banking
  • Public-sector enterprises
  • Defence
  • Security
  • Government organizations
• The partnership supports Make in India and Aatmanirbhar Bharat.

About ITI Limited:

• Established: 1948
• Headquarters: Bengaluru, Karnataka
• Significance: India’s first telecommunications public-sector enterprise

11. Adani Airport City incorporates AACL Global IFSC Limited

Adani Airport City Limited incorporated AACL Global IFSC Limited as a new wholly owned subsidiary of Adani Airport Holdings Limited.

Key points:

• Adani Airport City Limited is a step-down wholly owned subsidiary of Adani Enterprises Limited.
• The new company was originally incorporated on 15 July 2026.
• Its certificate of incorporation was received by Adani Airport City on 5 August 2026.
• AACL Global IFSC Limited will operate as a Global Treasury Centre.
• It will function under the International Financial Services Centre (Finance Company) Regulations, 2021.
• The company can undertake treasury and finance-related activities permitted by the International Financial Services Centres Authority.
• Its initial paid-up capital is ₹5 lakh.
• The capital consists of:
  • 50,000 equity shares
  • Face value of ₹10 per share
• A global treasury centre generally manages:
  • Corporate liquidity
  • Foreign-exchange exposure
  • Group financing
  • Cash management
  • Financial risks

About Adani Airport Holdings Limited:

• Incorporated: August 2019
• Headquarters: Ahmedabad, Gujarat
• Significance: India’s largest private airport operator under the public-private partnership model

12. N. Chandrasekaran to step down as Tata Sons Chairman in February 2027

N. Chandrasekaran announced that he would not seek reappointment as Chairman of Tata Sons when his current term concludes on 20 February 2027.

Key points:

• Chandrasekaran will continue serving as chairman until the completion of his present term.
• He said leadership clarity was important because several Tata Group projects were at critical stages of execution.
• His proposed five-year extension reportedly did not receive the required unanimous board support.
• The Sir Dorabji Tata Trust and Sir Ratan Tata Trust had recommended extending his tenure.
• The Tata Sons Nomination and Remuneration Committee had also recommended the proposal.
• However, the matter remained unresolved after being considered by the Tata Sons board.
• Tata Trusts owns approximately 66% of Tata Sons.
• Reported areas of disagreement included:
  • A possible listing of Tata Sons
  • Air India’s losses
  • Board representation
  • The proposed exit of a minority shareholder
• Tata Group shares declined following the announcement:
  • TCS fell by approximately 5%
  • Tata Motors declined by about 3.5%
  • Tata Steel and Titan fell by around 2% each
• Chandrasekaran joined the Tata Group as an intern at TCS in 1987.
• He became Chief Executive Officer of TCS in 2009.
• He took over as Chairman of Tata Sons in 2017.
• He became the first non-Parsi chairman of Tata Sons.
• Tata Sons will have to select a successor to ensure an orderly leadership transition.

Important clarification: Chandrasekaran did not leave the position immediately. He announced that he would not seek another term and would serve until 20 February 2027.

13. V.O. Chidambaranar Port receives ISO 50001:2018 certification

V.O. Chidambaranar Port Authority in Thoothukudi, Tamil Nadu, became India’s first port to receive ISO 50001:2018 certification for its Energy Management System.

Key points:

• The certification was provided by Indian Register Quality Systems.
• ISO 50001:2018 establishes requirements for:
  • Energy-management systems
  • Improved energy efficiency
  • Energy-performance monitoring
  • Reduction of energy costs
  • Continuous improvement
• The port was also accredited by Bureau Veritas as a Scope-2-emission-free port.
• Renewable sources supplied 93.89% of its electricity requirements during FY2025–26.
• Scope-2 emissions are indirect greenhouse-gas emissions resulting from purchased:
  • Electricity
  • Heating
  • Cooling
  • Steam
• The recognition highlights the growing adoption of sustainable energy-management practices in India’s port sector.

About V.O. Chidambaranar Port:

• Location: Thoothukudi, Tamil Nadu
• Former name: Tuticorin Port
• It is one of India’s major ports.

14. VinSpace signs satellite-launch agreement with SpaceX

Vietnam’s VinSpace signed an agreement with SpaceX to deploy its first satellites through a Transporter Rideshare Mission in 2027.

Key points:

• VinSpace is the aerospace division of Vietnamese conglomerate Vingroup.
• The satellites will be launched using SpaceX’s Falcon 9 rocket.
• The Transporter rideshare model allows several small satellites belonging to different customers to share a single launch.
• This system reduces launch costs for small-satellite developers.
• The project will help Vietnam build indigenous capabilities in:
  • Satellite engineering
  • Satellite manufacturing
  • Assembly and integration
  • Testing
  • Launch coordination
  • In-orbit operations
  • Space-based data services
• VinSpace will manage the complete satellite lifecycle.
• The agreement is expected to create a foundation for commercial space applications and international partnerships.

About VinSpace:

• Founded: 3 November 2025
• Headquarters: Hanoi, Vietnam
• Parent organization: Vingroup
• Chief Executive Officer and Director General: Vu Trong Thu

About SpaceX:

• Founded: 2002
• Founder: Elon Musk
• Headquarters: Hawthorne, California, United States

15. Behari Lal Engineering sets IPO price band at ₹271–₹285

Behari Lal Engineering announced the price band for its initial public offering at ₹271 to ₹285 per equity share.

Key points:

• The public issue opened for subscription on 12 August 2026.
• It was scheduled to close on 14 August 2026.
• An Initial Public Offering, or IPO, is the process through which a privately held company offers its shares to the public for the first time.
• The price band specifies the minimum and maximum prices at which investors may submit their bids.
• The development was an important corporate-market event during the week.

Quick Revision

1. Air India–Azerbaijan Airlines: Codeshare partnership covering Delhi–Baku and Mumbai–Baku services.
2. Air India codeshare count: The AZAL agreement became Air India’s 26th codeshare partnership.
3. Jupiter Wagons partnership: Formed with Lucchini RS Holding and SIMEST.
4. Rail-wheel investment: EUR 28 million, approximately ₹307 crore.
5. JTRWF stake: Lucchini RS and SIMEST will jointly acquire 25%.
6. ANUGYAN programme: Launched by IIT Hyderabad and Crimson Energy.
7. ANUGYAN duration: Three-month residential nuclear-technology programme.
8. India’s nuclear target: 100 GW by 2047.
9. BEL–Esri India: Partnership for GIS, GeoAI and location-intelligence solutions.
10. Esri’s indigenous platform: Indo ArcGIS.
11. Meja Thermal Project loan: ₹26,850 crore from REC and PFC.
12. Stage II generating capacity: 2,400 MW through three 800-MW units.
13. MUNPL ownership: 50:50 joint venture between NTPC and UPRVUNL.
14. ASSOCHAM agreements: Signed with Business France and IACCIA.
15. Large-format 3D-printing facility: To be established in Kanpur.
16. Partner companies: Lohia Aerospace Systems and Israel’s Massivit.
17. Proposed investment: USD 8–10 million.
18. DPIIT startup support: Five strategic MoUs covering payments, cloud services, mentorship, mobility and market access.

19. ONGC–Shell MoU: Deep-water and ultra-deep-water exploration and LNG sourcing.
20. MoU date: 10 August 2026.
21. Exploration policy: Open Acreage Licensing Policy Rounds X and XI.
22. Airtel Business–ITI: Enterprise digital-transformation partnership.
23. Major technologies: Sovereign cloud, AI, IoT, cybersecurity, LEO satellites and private 4G/5G.
24. ITI Limited: India’s first telecommunications PSU, established in 1948.
25. AACL Global IFSC: New subsidiary under Adani Airport Holdings.
26. AACL Global IFSC’s role: Global Treasury Centre.
27. Initial paid-up capital: ₹5 lakh.
28. Tata Sons leadership: N. Chandrasekaran will not seek reappointment.
29. End of current term: 20 February 2027.
30. Chandrasekaran became Tata Sons Chairman: 2017.
31. V.O.C. Port: First Indian port to receive ISO 50001:2018 energy-management certification.
32. Renewable electricity contribution: 93.89% during FY2025–26.
33. VinSpace–SpaceX: Satellite-launch agreement for a 2027 Transporter mission.
34. Launch vehicle: Falcon 9.
35. VinSpace parent organization: Vingroup of Vietnam.
36. Behari Lal Engineering IPO: Price band fixed at ₹271–₹285 per share.
37. IPO opening date: 12 August 2026.
38. IPO closing date: 14 August 2026.