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Corporate News - February 2025
GLOBAL PARTNERSHIPS
India and US set $500 Billion Trade Target, Eye Major Deal 
India and the United States have set an ambitious target of reaching $500 billion in annual bilateral trade by 2030, up from $130 billion last year. During a meeting between Prime Minister Narendra Modi and US President Donald Trump at the White House, both leaders discussed strategies to achieve this goal, including reducing trade barriers and increasing energy trade. As part of their efforts, India will import more US oil and gas to reduce the trade imbalance. The two countries also announced plans for the first phase of a mega trade agreement, aimed at accelerating cooperation in areas such as defense, technology, and commerce. The agreement is expected to foster transformative change and strengthen ties between the two nations. Both leaders committed to addressing concerns related to market access and overcapacity in certain sectors.
Tesla Begins Recruitment in India, Signals EV Market Entry 
Tesla has started posting job openings in India, signaling its potential entry into the country's electric vehicle (EV) market. The recruitment follows a recent meeting between Prime Minister Narendra Modi and Tesla CEO Elon Musk, where discussions about expanding Tesla's presence in India were reportedly held. Tesla's move to hire local talent is seen as a step toward setting up operations in India, a growing market for electric vehicles. The company is expected to explore manufacturing and sales opportunities in the country as part of its global expansion strategy. This development has fueled speculation that Tesla may soon launch its EVs in India, which could accelerate the country's shift toward clean energy and sustainable transportation.
India-Qatar Partnership to Focus on Sustainability, Tech, and Energy 
India and Qatar are set to strengthen their partnership, focusing on sustainability, technology, entrepreneurship, and energy, according to Hon'ble Union Minister of Commerce and Industry, Mr. Piyush Goyal. Speaking at the India-Qatar Business Forum in New Delhi, he highlighted the evolving bilateral relationship, which is moving beyond traditional trade to include emerging sectors like AI, IoT, quantum computing, and semiconductors. He emphasized the complementary strengths of both nations and the potential for collaboration to drive prosperity. Mr. Goyal also announced two significant MoUs: one between the Qatari Businessmen Association and the Confederation of Indian Industry, and another between Invest Qatar and Invest India. He encouraged Qatari companies to explore opportunities in India's expanding sectors, including renewable energy, smart cities, and infrastructure. The partnership aligns with Qatar Vision 2030 and India's Viksit Bharat 2047, aiming for a prosperous future for both nations.
ESG
BYD and SEC Partner for World's Largest Grid-Scale Energy Storage System
BYD Energy Storage and Saudi Electricity Company (SEC) have finalized a historic agreement for the, totaling 12.5GWh. This new project, combined with a previously delivered 2.6GWh system, brings their collaboration to 15.1GWh. The initiative supports Saudi Arabia's Vision 2030 goal of integrating 50% renewable energy into its power mix. The energy storage solutions will be deployed across five sites to stabilize the grid and manage fluctuations from renewable energy sources. BYD has already delivered 75GWh across 350 projects in over 110 countries, advancing the global clean energy transition.
MERGERS AND ACQUISITION
JioHotstar: A New Era in Streaming 
Reliance and Disney have launched JioHotstar, a combined platform merging JioCinema and Disney+ Hotstar's content. This merger integrates India's top sports rights, including the IPL, ICC events, and the English Premier League, alongside global content from Disney, Warner Bros., HBO, NBCUniversal, and Paramount. Existing subscribers can continue their plans but must switch to JioHotstar. Users accessing JioCinema or Disney+ Hotstar will be redirected to the JioHotstar platform. The JioCinema app will prompt users to switch JioHotstar, while the Disney+ Hotstar app is already updated to reflect the new platform.
JKort Payments to Acquire Paysafe's Direct Marketing Payment Business 
Paysafe is selling its direct marketing payment processing unit, Paysafe Direct, to Kort Payments, led by former Paysafe CEO Joel Leonoff. The deal includes merchant contracts, technology, and employees. This move allows Paysafe to focus on its core growth areas, while Kort Payments views the acquisition as a key step in expanding its presence in the U.S. market. Kort Payments, with over 25 years of experience, aims to enhance its offerings and strengthen its position in North America.
Arcadia acquires RPD Energy to enhance Clean Energy Procurement Solutions 
Arcadia has acquired RPD Energy, a leader in renewable energy procurement, to expand its enterprise energy solutions. This acquisition enhances Arcadia's offerings, providing businesses with access to customized procurement strategies, community solar options, and demand-side management. RPD Energy has been at the forefront of clean energy procurement, offering innovative solutions and risk analysis for major clients like Adobe, UPS, and Intuit. With this acquisition, Arcadia strengthens its ability to deliver comprehensive, smarter energy procurement solutions.
AI IN INDIA
India and Intel Launch AI Training for 1 Lakh Youth 
India's Ministry of Skill Development and Entrepreneurship (MSDE), National Skill Development Corporation (NSDC), and Intel India have partnered to launch the "AI for Entrepreneurship" program, aiming to train 100,000 youth across India by 2025. The program is designed to simplify AI concepts and foster entrepreneurial thinking among learners. Through the initiative, Intel aims to bridge the digital divide by making AI education accessible to youth from both urban and rural areas, ensuring inclusivity. The module, available on the Skill India Digital Hub, offers interactive, multimedia-based content and a comprehensive curriculum covering AI in business and problemsolving. Participants will earn industry-recognized certifications. The program aligns with India's vision to promote innovation, create job opportunities, and build a future-ready workforce in the digital economy, preparing young minds to lead the techdriven transformation.
AI will soon also mean 'Assam Intelligence' - An investment of Rs. 50,000 crore
Reliance Industries Chairman, Mr. Mukesh Ambani has announced an investment of over Rs 50,000 crore in Assam over the next five years, stating that the state will transform from a "tea paradise" to a "technology paradise", at the Advantage Assam 2.0 summit. Reliance Industries announced strategic investments across various sectors to accelerate Assam's growth Technology & AI Readiness - technology, AI readiness, green energy, and retail expansion. Reliance will establish an AI-ready data centre in Assam, supporting education, healthcare, and agriculture. This initiative aims to equip the state's youth with digital skills, enabling them to 'learn and earn from home.'
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Institute of Directors (IOD) is an apex national association of Corporate Directors under the India's 'Societies Registration Act XXI of 1860'. Currently it is associated with over 30,000 senior executives from Govt, PSU and Private organizations of India and abroad.
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Disclaimer: The opinions expressed in the articles/ stories are the personal opinions of the author. IOD/ Editor is not responsible for the accuracy, completeness, suitability, or validity of any information in those articles. The information, facts or opinions expressed in the articles/ speeches do not reflect the views of IOD/ Editor and IOD/ Editor does not assume any responsibility or liability for the same.
