Corporate News - February 2026

ESG

SEBI Launches Review of ESG Rating Providers (ERPs) to Strengthen Transparency, Investor Confidence

The Securities and Exchange Board of India (SEBI) has constituted a multi-stakeholder working group to review the regulatory framework governing ESG Rating Providers (ERPs), reflecting growing global scrutiny of ESG methodologies and disclosure practices. The group includes representatives from issuers, investors, ESG rating agencies, analysts, academia, and legal experts, signalling SEBI's intent to ensure comprehensive and credible reforms.

The review will focus on improving transparency, strengthening reliability, and aligning India's ESG rating ecosystem with evolving global regulatory standards, while preserving relevance to domestic market conditions.

With ESG ratings increasingly influencing capital allocation, credit risk assessment, and corporate reputation, the initiative aims to reinforce trust and ensure decision-useful sustainability metrics.

Union Budget 2026 Unveils $2.2B Carbon Capture Plan for Heavy Industries

India committed about Rs.20,000 crore ($2.2 billion) to scale up carbon capture technologies and outlined expanded green transport, clean energy and urban sustainability plans in its Union Budget 2026, strengthening its climate agenda.

The applications will cover power, steel, cement, refineries and chemicals. The funding targets sectors deemed difficult to decarbonize solely through renewable energy.

The finance minister said the objective was to move Carbon, Capture, Utilisation and Storage (CCUS) from pilot stages toward wider industrial use. She added that the effort would support energy security while lowering emissions.

UK Finalises Sustainability Reporting Standards Aligned With IFRS Baseline

The United Kingdom has published its Sustainability Reporting Standards (UK SRS S1 and S2), aligned with the International Sustainability Standards Board's (ISSB) IFRS Sustainability Disclosure Standards. The framework is currently available for voluntary adoption, with the Financial Conduct Authority (FCA) consulting on potential amendments to Listing Rules that could make reporting mandatory for certain entities.

The standards establish a globally consistent framework for disclosing sustainability and climate-related financial information, enhancing transparency and enabling investors to assess corporate sustainability risks and opportunities more effectively.

The move places the UK among leading jurisdictions integrating internationally aligned sustainability disclosure frameworks into domestic regulation, reinforcing its position as a global centre for sustainable finance.

Developed under the IFRS Foundation, the standards aim to improve comparability, reliability, and decision-usefulness of sustainability disclosures across markets. Their adoption reflects growing recognition that sustainability risks, particularly climaterelated risks, are financially material and increasingly influence capital allocation.

Google Launches Climate Technology Center in India to Accelerate AI Driven Decarbonization

Google has launched a Climate Technology Centre in collaboration with the Office of the Principal Scientific Advisor, positioning artificial intelligence at the core of India's climate innovation strategy.

The centre will provide access to AI models, research infrastructure, and collaborative platforms to accelerate development of lowcarbon technologies across sectors such as aviation, construction, and infrastructure.

The initiative aligns India's expanding digital economy with sustainability priorities, supporting innovation in climate resilience and decarbonization.

ECONOMY

India, Canada seal $2.6 billion uranium deal, agree on economic partnership framework

India and Canada have signed a landmark $2.6 billion uranium supply agreement, reinforcing India's long-term civil nuclear energy security and deepening bilateral economic engagement.

The agreement ensures reliable fuel supply for India's expanding nuclear power programme, supporting its clean energy and energy transition objectives. Both countries also agreed to accelerate negotiations on a Comprehensive Economic Partnership Agreement (CEPA), with Canadian Prime Minister Mark Carney indicating a target conclusion by end-2026. In addition, multiple Memorandums of Understanding were signed covering critical minerals cooperation, renewable energy promotion, and cultural exchange. A dedicated agreement on critical minerals aims to strengthen resilient supply chains and support emerging clean energy industries. Prime Minister Narendra Modi outlined an ambitious economic roadmap, with both nations targeting $50 billion in bilateral trade by 2030 signalling a significant expansion of strategic, trade, and energy cooperation.

India's manufacturing Purchasing Managers' Index (PMI) hits fourmonth high in February, rises to 56.9

India's manufacturing sector recorded its fastest expansion in four months, with the HSBC India Manufacturing Purchasing Managers' Index (PMI) rising to 56.9 in February, up from 55.4 in January. A PMI reading above 50 indicates expansion, highlighting continued strength in the country's industrial activity. The growth was primarily driven by robust domestic demand, which accelerated new orders and boosted production levels across industries. Export growth, however, moderated to its slowest pace in nearly 18 months, reflecting softer external demand amid evolving global economic conditions.

The strong manufacturing performance reinforces India's broader economic resilience. The economy grew by 7.8 per cent in the October–December quarter, supported by a 13.3 per cent surge in manufacturing output. For the full fiscal year ending March, India's GDP is projected to grow approximately 7.6 per cent.

Sustained expansion in manufacturing underscores the sector's critical role in driving economic growth, strengthening industrial capacity, and reinforcing India's position as a key global manufacturing hub.

TECHNOLOGY

Airtel and Google Collaborate to Advance Spam Protection in India with Secure RCS Messaging

Airtel and Google have announced a collaboration to offer a secure and engaging messaging experience for millions of users in India. By combining Airtel's network intelligence with Google's Rich Communications Services (RCS) platform and spam filtering, users get to experience RCS messaging with high-quality photo/video and interactive elements like message reactions, all while benefiting from enhanced protections that significantly reduce mobile spam and digital fraud.

The platform will offer stringent real-time checks to:

1. Validate message sender's identity using telco-backed business identity checks.

2. Respect users' DND preferences by categorising communications as promotional or transactional and imposing restrictions, accordingly.

3. Block spam business messages from landing on customers' devices.

4. Filter malicious domains through a multitiered threat detection layer.

5. Help keep users safe by throttling messages from individual senders who have been jointly flagged by Google and Airtel's AI-powered spam filters.

The messages sent through the RCS messaging service platform can be directly viewed in Google Messages, available on most Android phones.

Airtel and Google's collaboration represents a world-first example of how telecom service providers (TSPs) and global technology platforms can work together to apply analogous safety, verification, and accountability measures to OTT messaging - measures that have long existed in telecom networks.

The India AI Impact Summit 2026, held from 16-21 February 2026 at Bharat Mandapam, New Delhi, marked a historic shift in the global artificial intelligence landscape. As the first global AI summit hosted in the Global South, it brought together heads of state, technology leaders, policymakers, industry pioneers, and representatives from over 100 countries. Organised under the IndiaAI Mission, the summit symbolised a transition in global discourse from speculative discussions on AI's potential to tangible frameworks for AI deployment, governance, and societal impact. Its central theme, (welfare for all, happiness for all), underscored a vision of inclusive, ethical, and globally beneficial AI.

• Prime Minister Unveils the MANAV Vision: Establishing India's Human-Centric AI Doctrine

Prime Minister Narendra Modi unveiled the MANAV (Machine Assistance for Nurturing and Augmenting Vision) framework, establishing India's first comprehensive philosophical and policy doctrine for artificial intelligence. The MANAV vision positions AI as a national development multiplier designed to enhance human productivity, strengthen governance, and expand equitable access to opportunity. Crucially, the doctrine affirms that India's AI development will prioritise human oversight, ethical governance, and societal benefit. This vision elevates artificial intelligence from a purely technological pursuit to a strategic public good, aligning AI advancement with India's democratic values, economic ambitions, and inclusive growth model.

• Reliance Jio's 10 Lakh Crore Commitment: The Largest Private AI Investment C in India's History

Reliance Jio, led by Mukesh Ambani, pledged an unprecedented C10 lakh crore investment to build India's AI infrastructure and ecosystem. This investment will fund hyperscale data centres, sovereign cloud infrastructure, foundational AI model development, and nationwide AI deployment platforms. The scale of this commitment signals a structural shift in India's private sector, positioning artificial intelligence as the core infrastructure underpinning India's next phase of economic expansion and technological independence. It also marks India's transition from being an AI services hub to becoming a foundational AI infrastructure powerhouse.

• Microsoft's $50 Billion Global South AI Push: Positioning India at the Centre of Global AI Expansion

Microsoft announced that it is on track to invest $50 billion in AI infrastructure, research, and capacity-building across the Global South, with India emerging as a central anchor of this strategy. This investment will support cloud infrastructure expansion, AI skilling initiatives, enterprise adoption, and research collaborations with Indian institutions. It reflects a fundamental shift in global AI investment flows, recognising India not only as a major AI talent hub but as a strategic geography for future AI deployment. The announcement reinforces India's emergence as a global centre for scalable, inclusive AI innovation.

• Google's Subsea Cable Expansion: Strengthening India's Global Digital Connectivity Backbone

Google announced plans to build new subsea cable systems connecting India directly to major global data corridors, dramatically enhancing India's digital bandwidth and connectivity resilience.

Subsea cables form the backbone of global internet infrastructure, and this investment will ensure faster data flows, reduced latency, and enhanced AI processing capabilities. It strengthens India's strategic digital sovereignty and positions the country as a major global hub for AI computation, cloud services, and digital innovation.

• Nvidia and OpenAI Partnerships: Integrating India into the Core of Global AI Innovation

Nvidia and OpenAI announced strategic partnerships with Indian enterprises, startups, and academic institutions to accelerate AI research, model development, and compute access. These collaborations will enable Indian institutions to access advanced GPUs, develop indigenous AI models, and build domain-specific AI solutions tailored to India's needs. The partnerships will also strengthen India's research ecosystem and accelerate innovation in sectors such as healthcare, education, and manufacturing.

• Guinness World Record for Responsible AI Commitments: Establishing India as a Global Ethical AI Leader

The summit achieved formal recognition from Guinness World Records for securing the largest number of responsible AI pledges ever recorded at a single global event. Thousands of organisations, institutions, and stakeholders committed to ethical AI deployment, transparency, and responsible governance. This milestone reinforces India's leadership in advancing ethical AI frameworks and strengthens its credibility as a global steward of responsible AI development.

• Expansion of the IndiaAI Mission: Scaling Sovereign AI Infrastructure and Indigenous Models

The Government of India announced major expansion of the IndiaAI Mission, including increased compute capacity, expanded AI research funding, and accelerated development of indigenous foundational models. The initiative will support domestic AI startups, research institutions, and public sector deployments, reducing dependence on foreign AI platforms. It aims to build a comprehensive sovereign AI ecosystem capable of serving India's governance, economic, and security needs.

• Massive AI Skilling and Education Partnerships: Building the World's Largest AI Workforce Pipeline

Major technology firms and Indian educational institutions announced nationwide partnerships to expand AI education, training, and research capacity. These initiatives will integrate AI curricula into universities, support advanced research programs, and prepare millions of professionals for AI-driven industries. This effort recognises that human capital-not just infrastructure-will determine leadership in the AI era. India's focus on talent development ensures sustained competitiveness and long-term innovation capacity.

Taken together, these announcements represent a structural transformation in India's technological and economic trajectory. The summit marked the convergence of visionary public policy, unprecedented private capital, global technology collaboration, and institutional capacity building. India is no longer positioning itself merely as an adopter of artificial intelligence. It is building the infrastructure, capital base, governance frameworks, and talent ecosystem required to lead the next era of global technological development.

The India AI Impact Summit 2026 will therefore be remembered not simply as a conference, but as the moment India laid the foundations for enduring leadership in the global AI age.

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