Uber, headquartered in San Francisco, California, has invested $10 million in Carrum Mobility, a fleet management startup based in Gurgaon, Haryana in the Delhi National Capital Region. The Series B round values Carrum at $168 million, nearly tripling the roughly $63 million valuation the company carried after Uber's first $7...
NVIDIA Partners with India’s Payments Authority to Build Banking AI Platform
NVIDIA, headquartered in Santa Clara, California, and the National Payments Corporation of India (NPCI) have unveiled an open reinforcement learning environment designed to train artificial intelligence agents for banking. The platform, announced at the Global Fintech Fest 2026 in Mumbai, is described as the first of its kind for the...
Tesla to Maintain a Minimal Footprint in India
Tesla’s five-year pursuit of manufacturing in India has ended. On May 19, 2026, India’s Minister of Heavy Industries, H.D. Kumaraswamy, confirmed that the automaker will not proceed with a local factory. The exit follows a prolonged deadlock over import tariffs. Tesla wanted lower duties to test the market with imported...
Afcons Infrastructure Wins Major Contract for India’s Newest Deepwater Hub
In a milestone for the planned Vadhvan Port project near Mumbai, Afcons Infrastructure, headquartered in Mumbai, secured the contract to construct a large offshore breakwater. The project is set to become India’s largest container port. Vadhvan Port enjoys a strategic advantage due to its proximity to Mumbai, India’s financial and...
U.S. Authorizes First-of-Its-Kind Nuclear Tech Transfer to India’s Private Sector
In a significant move for international energy cooperation, CORE Energy Systems, headquartered in Thane,on the outskirts of Mumbai, India, partnered with Irving, Texas,-based Flowserve Corporation to locally manufacture Primary Coolant Pumps (PCPs) for India’s nuclear power plants. This collaboration marks a first in U.S.-India energy relations, specifically regarding the transfer...
IKEA Targets 30 Stores and Export Dominance in India
IKEA, the world’s largest furniture retailer, is significantly accelerating its investment in India, designating it a "priority market" for long-term growth. Despite global sales dropping to $51.7 billion in FY2025 from $52 billion the previous year, the company's Indian operations saw a 6% revenue increase and a 10% improvement in...