Daily News - Monday, 16 February 2026

JSW MG to Invest USD $441 Million to Triple India's EV Capacity (Bloomberg)

JSW MG Motor India Pvt., a joint venture between billionaire Sajjan Jindal’s JSW Group and China’s SAIC Motor Corp., announced an investment of INR 40 billion (USD $441 million) to expand its production capacity in India. The company plans to triple output at its Halol plant in Gujarat from 110,000 units to 300,000 units over the next two years, focusing primarily on new-energy vehicles (NEVs) including battery electric and plug-in hybrids. Managing Director Anurag Mehrotra stated that 75-80% of the company’s business will be concentrated on NEVs, with three to four new launches in 2026, including a full EV and a plug-in hybrid. In 2025, JSW MG’s retail sales surged 35%, while revenue grew 27%, significantly outpacing India’s overall auto industry growth of 5–6%. The company’s EV market share rose from less than 10% in 2023 to about 30% in 2025, driven largely by the success of its electric MPV, Windsor. The expansion will also include upgrades to paint and body shops, support new models from 2027, and accelerate localization to reduce foreign exchange exposure and improve margins.

A.I. Summit in New Delhi Welcomes 35,000 Global Leaders, Focus on Human-Centric Progress (Business Standard)

Prime Minister Narendra Modi inaugurated the India AI Impact Expo 2026 at Bharat Mandapam, New Delhi, running from February 16–20. He emphasized that India is at the forefront of global AI transformation, driven by its 1.4 billion people, strong digital public infrastructure, vibrant startup ecosystem, and cutting-edge research. The summit’s theme, “Sarvajana Hitaya, Sarvajana Sukhaya” (welfare for all, happiness for all), highlights India’s commitment to human-centric AI progress. Major tech CEOs expected include Satya Nadella (Microsoft), Sundar Pichai (Google), Arvind Krishna (IBM), Jensen Huang (NVIDIA), and Rajesh Nambiar (NASSCOM), with Elon Musk (Tesla/SpaceX) invited for AI in autonomous systems. PM Modi noted AI’s transformative role across healthcare, education, agriculture, governance, and enterprise, and expressed confidence that summit outcomes will shape a progressive, innovative, opportunity-driven future. The event is expected to host 35,000 global leaders, policymakers, researchers, and industry captains, making it one of the largest AI gatherings globally. Modi also linked India’s AI push to recent tax incentives announced in the Union Budget, aimed at lowering costs for advanced facilities and positioning India as a globally competitive hub for data infrastructure.

India aims to capture 5% of global biopharma market share under new initiative (Fortune India)

Global pharmaceutical multinationals are increasingly relying on India‑based Global Capability Centres (GCCs) to drive drug discovery, development, regulatory affairs, and safety operations worldwide. Merck, the German drug major founded in 1668, has made India one of its main global support hubs, with three GCCs in Bengaluru employing 2,500 people. The Merck IT Centre (MITC), established in 2018, focuses on building digital platforms, data capabilities, and enterprise IT solutions to enhance efficiency and innovation across Merck’s global operations. According to industry data, India now hosts 55+ pharma GCCs, generating over 300,000 jobs, and these centres are evolving from routine back‑office tasks into innovation hubs that attract global investment. The Union Budget 2026–27 reinforced this trajectory by announcing the Biopharma SHAKTI initiative, with an outlay of ₹10,000 crore (USD $1.2 billion) over five years, aimed at capturing 5% of the global biopharmaceutical market share. Together, these developments position India as a tech vanguard in pharma, combining government policy, multinational investment, and talent‑driven innovation to reshape global life sciences.

India’s oil demand projected to hit 400M tonnes by 2050, says Petroleum Planning and Analysis Cell (Financial Express)

India’s oil demand is projected to rise from 250 million tonnes today to 400 million tonnes annually by 2050, according to the Petroleum Planning and Analysis Cell (PPAC). Diesel remains dominant at 35% share (about 91 million tonnes annually), though its peak share of 44% in 2013 has declined as the price gap with petrol narrowed from ₹30 per litre to ₹7-₹10. Petrol’s share has nearly tripled over two decades, climbing from 7% in 2001 to 18% now, with consumption reaching 40 million tonnes in 2024-25, reflecting urban mobility growth and carmakers’ retreat from diesel variants. LPG has surged from 7.7% in 2001 to 13.7% today, with consumption above 31 million tonnes, driven by government clean‑cooking initiatives, while kerosene collapsed to just 0.2% of demand from 11% in 2001, marking the end of its household dominance. Industrial fuels have shifted too: fuel oil fell from 13% to 2.6%, while petroleum coke rose from 0.5% to 9%, becoming a key cement industry fuel despite environmental curbs. Experts like Pankaj Sharma, former Additional Director at PPAC, note that the next 25 years will see greater petrochemical intensity, CNG adoption, and EV penetration, reshaping India’s fuel basket beyond traditional oil growth.