Hero MotoCorp Announces RS 3200+ Crore Investment In Andhra Pradesh

* Breaks Ground For Future Ready Global Parts Centre In Tirupati

* Investment Roadmap: Announces cumulative investment of over Rs 3,200 crores in Andhra Pradesh

* Next-Gen Logistics: Over Rs 750 crore investment to establish its second Global Parts Centre in Tirupati

Fostering Future Talent: Partners with Government of Andhra Pradesh to launch a merit-based scholarship program supporting technical education

Empowering Women in Uniform: Advancing community safety and sustainable mobility by deploying VIDA electric scooters and providing specialized safety training to women police personnel.

Reinforcing its commitment to sustainable growth and community empowerment, Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today reached a pivotal milestone in its nation-building mission with the Foundation Stone Laying Ceremony for its second Global Parts Centre (GPC) in Tirupati, Andhra Pradesh. This landmark facility, representing a significant investment of over Rs 750 crores, serves as the foundation of an expansive Rs 3,200 crore plus investment roadmap. The investment is aimed at transforming Tirupati into a world-class manufacturing and electric mobility hub, while strengthening Hero MotoCorp’s global supply chain and reinforcing India’s position in the automotive and EV ecosystem.

Shri N. Chandrababu Naidu, Hon'ble Chief Minister, Andhra Pradesh, said, “Hero MotoCorp has been a valued partner in Andhra Pradesh's growth journey, and particularly in the transformation of Rayalaseema. Its decision to establish the Global Parts Centre in Tirupati is a strong endorsement of our state's progressive policies, world-class infrastructure, investor-friendly ecosystem, and our commitment to the Speed of Doing Business. Over the years, Hero MotoCorp's presence has generated thousands of jobs, strengthened local supply chains, enhanced skills, and accelerated economic growth across Rayalaseema and Andhra Pradesh. We are delighted to see this partnership grow even stronger.

This landmark investment will create new opportunities for our youth, strengthen the industrial economy of Rayalaseema, and further establish Tirupati as one of India's leading manufacturing, mobility and logistics hubs. As Rayalaseema emerges as a major centre for industry, innovation and advanced manufacturing, partnerships like these will play a defining role in shaping its future. We deeply appreciate Hero MotoCorp's continued trust in Andhra Pradesh and look forward to working together to build a future-ready, globally competitive industrial ecosystem that drives innovation, creates quality employment, and delivers sustainable prosperity for all.”

Dr. Pawan Munjal, Executive Chairman, Hero MotoCorp said, "At Hero MotoCorp, we have always believed that business growth and nation-building go hand in hand. The foundation stone of our second Global Parts Centre in Tirupati marks an important milestone in our journey and reflects our deep confidence in India’s future and Andhra Pradesh’s vision for growth. By transforming Tirupati into a future-ready manufacturing and electric mobility hub, this investment will enhance our global supply chain, support our expansion across markets, and reaffirm our commitment to 'Made in India, for India and the World.'

It is deeply meaningful to mark this milestone on the birth anniversary of my father, our Founder and Chairman Emeritus, Dr. Brijmohan Lall Munjal. He believed in building enduring institutions and always preparing for the future. It is deeply meaningful to mark this milestone on the 103rd birth anniversary of my beloved father, our Founder and Chairman Emeritus, Dr. Brijmohan Lall Munjal. A true visionary, he championed the belief that great institutions are not just built to survive the present but are actively sculpted to lead the future. This Centre is a humble tribute to his vision, values and enduring belief in India’s potential. I am certain that this new Centre will proudly carry forward his legacy of enterprise, purpose and service to the nation.”

Building for India, Supplying to the World

The upcoming Global Parts Centre will serve as a strategic nerve centre for Hero MotoCorp’s domestic and international spare parts operations. 100% of our electric vehicle portfolio is entirely designed, engineered and manufactured in the Tirupati plant. With this investment, the plant’s annual production capacity is expected to scale aggressively to 1.2–1.5 million units, further strengthening Tirupati’s position as one of India’s premier manufacturing hubs for future mobility.

Creation of Job opportunities

The expansion is expected to generate around 4,000 employment opportunities. This job creation aligns with both the national vision of Viksit Bharat 2047 and the Government of Andhra Pradesh’s SwarnAndhra vision. Beyond employment, this Global Parts Centre will act as an economic catalyst to deliver sustained benefits in the region.

Empowering Communities

Continuing its efforts to sustainable growth, Hero MotoCorp launched two transformative community initiatives in partnership with the Government of Andhra Pradesh. The “Dr. Brijmohan Lall Munjal Heroes of Tomorrow Scholarship” program will empower technical education students across 28 districts. This initiative will provide full tuition coverage for meritorious students pursuing engineering degrees at state IIITs, fostering the next generation of tech leaders. Furthermore, reinforcing its commitment to local community welfare, the company will deploy VIDA electric scooters and provide specialized road safety training to women police personnel across the Tirupati district, fostering empowerment through sustainable mobility.

About Hero MotoCorp

Hero MotoCorp, headquartered in New Delhi, India, is the world’s largest manufacturer of motorcycles and scooters for 25 consecutive years with ~$5 billion revenue. The Company’s global footprint spans 52 countries across Asia, Africa, Europe, Central and Latin America with a customer base of over 130 million. The Company operates eight manufacturing facilities - six in India and one each in Colombia and Bangladesh - along with two Research and Development centres: Centre for Innovation and Technology (CIT) in India and Tech Centre Germany (TCG).

Hero MotoCorp is driving the transition to electric mobility through VIDA, powered by Hero. Its strategic alliances with Harley-Davidson and Zero Motorcycles support the design and development of premium and electric motorcycles, respectively. Further demonstrating its commitment to the EV future, the Company has made strategic investments in two- and three-wheeler EV manufacturers, Ather Energy and Euler Motors. Hero MotoCorp is the only Indian two-wheeler manufacturer listed on the prestigious Dow Jones Sustainability Index (DJSI).

Hero MotoCorp’s Executive Chairman, Dr. Pawan Munjal, was named to the 2025 TIME100 Climate List of the 100 most influential leaders driving business climate action.

Beyond mobility, Hero MotoCorp is a major global promoter of sports, including golf, football, field hockey, and cricket. Hero MotoSports Team Rally is India's flag bearer in global rally racing.  

Business Loans To Entrepreneurs Grew Faster Than Those To Commercial Entities Over Three Years

* Individual borrower business-oriented loans balances grew 1.8 times between March 2023 and March 2026, outpacing entity borrower balance growth at 1.5 times

* Substantial scope for expansion in MSME credit access, with nearly 41% commercial enterprises having formal credit access in entity or individual capacity

* Overall commercial portfolio remained stable at 1.8% as of March 2026. The analysis identified emerging signs of risk in specific borrower segments.

India’s commercial credit market is seeing a shift in borrower composition, with individual borrowers with business-oriented loans now forming a meaningful share of overall commercial credit balances, according to the latest MSME Pulse released by TransUnion CIBIL and the Small Industries Development Bank of India (SIDBI).

Loans to individuals accounted for 28% of outstanding commercial balances, while loans to entities accounted for 72%. Individual borrower balances grew 1.8 times during the three-year period between March 2023 and March 2026, compared with 1.5 times growth in entity borrower balances during the same period.

The report finds that outstanding commercial credit stood at ₹65.8 lakh crore as of March 2026, across 4.4 crore active commercial trades. This is a year-over-year (YoY) growth of 14% compared to the total outstanding credit of Rs 57.9 lakh crore as of March 2025.

Individual Business Borrowers Credit Profile

Individual Borrowers Form a Sizeable Business Credit Segment

As of March 2026, 2.8 crore individual borrowers had active business-oriented loans. Of these borrowers, 43% were early-stage as commercial entities with credit history of less than 24 months, highlighting a borrower segment that is active in business-purpose borrowing while still being relatively new as commercial entities. Almost half (48%) the share of the total Non-Banking Financial Companies’ (NBFCs) Commercial Balances pertained to Individual Borrowers. All other lender categories have a much lower share, with private banks the second largest at 24% of the commercial balance share among individual borrowers.

The individual borrower segment has been increasingly visible across key commercial credit products. Loans against property formed the largest share of outstanding balances for this borrower group, followed by commercial vehicle loans and unsecured business loans. At a product level, individual borrowers accounted for 68% of loan against property balances, 76% of commercial vehicle balances and 67% of unsecured business loan balances. The report notes that loans against property, commercial vehicle loans, unsecured business loans, term loans, overdraft and cash credit together formed ~87% of outstanding commercial credit balances.

Bhavesh Jain, MD & CEO, TransUnion CIBIL, said: “In India’s MSME economy, the entrepreneur and the enterprise are often deeply connected, particularly in the early years of business growth. A proprietor may borrow in an individual capacity, but the credit is frequently linked to business activity, working capital needs or asset creation. This makes individual business borrowing an integral part of how commercial credit is evolving, and it deserves to be understood within the broader MSME credit landscape.

“As MSMEs grow, their credit needs also change, from small-ticket working capital to larger, sector-led funding requirements. The real opportunity for the credit ecosystem lies in understanding this progression with greater clarity, especially as borrowers move from individual business borrowing to entity-level credit, or from trade-led borrowing to manufacturing-led expansion.”

Formal Credit Access Remains a Large Opportunity

The share of new-to-credit (NTC) entities in origination volumes declined from 52% in FY23 to 42% in FY26, indicating that the pace of first-time formal credit onboarding has moderated in recent years.

NTC Opportunity Sizing

NTC originations among commercial entities were concentrated in smaller ticket sizes. The report finds that 60% of these originations were in the ₹2 lakh to ₹10 lakh ticket-size segment, while 34% were in the ₹10 lakh to ₹2 crore segment. It also notes that 75% of ₹2 lakh to ₹2 crore NTC entity borrowers had prior retail credit experience, showing that first-time entity borrowers may enter formal commercial credit through different borrower pathways.

Emerging Pockets Of Risk in Specific Borrower Segments

While overall commercial credit portfolio performance remained stable as of March 2026, the report indicates elevated delinquency levels in certain borrower and product segments. Delinquency (measured as share of balances in 90+ Days Per Due (DPD) or classified sub-standard) in unsecured business loans to entities stood at 7.2%, up 274 basis points (bps) over three years. The ₹2 lakh to ₹10 lakh entity borrower segment recorded delinquency of 5.6%, up 111 basis points over the same period.

Signs of stress were also seen in early delinquencies (measured as accounts ever in 90+ DPD in first 12 months since origination) as well, for both unsecured business loans to entities and for the ₹2 lakh to ₹10 lakh entity borrower segment. For originations in the March 2025 ending quarter, for unsecured business loans to entities, early delinquencies were 2.9 times higher, while for the ₹2 lakh to ₹10 lakh entity borrower segment, early delinquencies were 2.1 times higher than the overall early delinquency of 3.4% for loans to entities originated in the same period.

Sectoral Patterns Point to Different MSME Credit Structures

The report shows that commercial credit patterns vary across sectors by exposure size and geography. Textiles, professional services, wholesale trade and infra-linked industries are led by the ₹10 lakh to ₹2 crore exposure segment. Maharashtra and Gujarat the leading states across key industries such as textiles, food processing. The report identifies manufacturing as a sector with strong concentration in industrial clusters.

Trade showed a different pattern, with retail trade anchored in the ₹2 lakh to ₹10 lakh exposure segment and wholesale trade led by the ₹10 lakh to ₹2 crore segment basis share of entities with live loans. Uttar Pradesh ranked first in both retail and wholesale trade counts, while Uttar Pradesh, and West Bengal appeared among the other leading states. In professional services, the report shows a higher share of entities in small exposure segments of ₹10 lakh to ₹2 crore, with Maharashtra, Karnataka and Tamil Nadu among the leading states.

Mr Jain said: “MSMEs remain central to India’s enterprise base, employment creation and regional economic growth. As more small businesses seek formal credit, it is important to recognise the diversity within the MSME segment. A micro enterprise seeking working capital, a trade borrower operating in a local market and a manufacturing unit looking to scale will have different credit needs, business cycles and growth paths. Expanding formal credit access for MSMEs has to go hand in hand with a deeper understanding of these differences. A more granular view across sectors, ticket sizes and geographies can help the ecosystem serve smaller and emerging enterprises while maintaining a focus on sustainable credit growth.”

About TransUnion CIBIL

India’s pioneer information and insights company, TransUnion CIBIL, makes trust possible by ensuring each person and business entity is reliably represented in the marketplace. We do this by providing an actionable view of consumers and businesses, stewarded with care.

We have developed technology and innovative solutions across core credit, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences, and personal empowerment for millions of people and commercial enterprises in India.

We serve the financial sector as well as commercial enterprises and individual consumers. Our customers in India include banks, credit institutions, NBFCs, housing finance companies, microfinance companies, telecom companies and insurance firms.

For more information visit www.transunioncibil.com

About SIDBI

Since its formation in 1990, SIDBI has been touching the lives of citizens across various strata of society through its integrated, innovative and inclusive approach for all round development of MSMEs. SIDBI has directly or indirectly through various credit and developmental measures impacted the myriad Micro, Small and Medium Enterprises (MSMEs) in the country, whether they are traditional, domestic small entrepreneurs, bottom-of-the-pyramid entrepreneurs, or high-end knowledge-based entrepreneurs.

For more information, visit: https://www.sidbi.in/       

Sony India Expands Premium Alpha Line-Up With The New Alpha 7R VI

* 66.8-megapixel full-frame mirrorless interchangeable-lens camera offering the highest resolution and continuous shooting performance in the Alpha™ series

Sony India today announced the launch of the Alpha 7R VI, the latest addition to its acclaimed Alpha 7R series. Combining an approximately 66.8 effective megapixel back-illuminated fully stacked Exmor RS™ CMOS sensor with Sony's latest BIONZ XR2™ image processing engine, the Alpha 7R VI delivers exceptional resolution, AI-powered subject recognition, and high-speed performance for professional photographers and filmmakers.

Sony also introduces the XLR-A4 XLR adaptor to expand on-camera audio capabilities for professional productions, including 32-bit float recording[ii].

"The Alpha 7R VI represents the next chapter in Sony's commitment to imaging innovation, bringing together exceptional resolution, AI-powered intelligence, and professional-grade performance in our most advanced Alpha R series camera yet. Designed for creators who demand uncompromising image quality and speed, it empowers photographers and filmmakers to capture every moment with extraordinary precision and creative freedom.” said Mukesh Srivastava, Head-Imaging & Professional Solution Business, Sony India

Alpha 7R VI Key Features

Expanded High-Resolution Shooting

· 66.8 MP (approximate, effective) full-frame fully stacked Exmor RS sensor with up to 16 stops[iii] of dynamic range and reduced noise in the mid-sensitivity range

· Precise 5-axis optical image stabilization delivering up to 8.5 stops at the centre and 7.0 stops at the periphery[iv]

· Auto White Balance powered by visible light and infrared (IR) sensor and deep-learning illumination estimation, for stable natural colour in shaded or indoor scenes

Intelligence in Every Frame with High-Speed, High-Precision Continuous Shooting

· BIONZ XR2 engine with integrated AI processing unit and approximately 5.6x faster sensor readout than the previous model[v], enabling blackout-free continuous shooting at up to approximately 30 fps[vi] delivering up to 60 AF/AE calculations per second with AF/AE tracking

· Real-time Recognition AF+ (Plus) with skeletal-based human pose estimation and tracking, for reliable focus on fast-moving subjects including athletes and dynamic scenes

Built for Professional Demands

· New NP-SA100 high-capacity battery (2670 mAh) supports up to 710 still images via LCD monitor or 600 via viewfinder (CIPA standard), reducing battery changes during extended shoots[vii]

· Approximately 9.44M dot OLED viewfinder with a DCI-P3 equivalent colour gamut and 10-bit HDR—maximum brightness is approximately three times higher than conventional models5 for clear visibility in bright environments

· Effective heat management allows uninterrupted 8K movie recording up to 120 min[viii]

· Dual USB Type-C🄬 ports for simultaneous charging and data transfer; illuminated rear buttons for low-light operation

· Magnesium alloy for a lightweight and durable body; 4-axis multi-angle LCD monitor for flexible shooting angles; mode-dial “Memory Recall” links shooting setups to customizable buttons[ix]

· Supports Sony’s Camera Authenticity Solution, including the C2PA standard, enabling verification that still images and videos were captured with a camera (not AI-generated)

Professional Video

· 8K 30p recording with 8.2K oversampling[x] and full frame 4K 60p and 120p recording without crop[xi]

· Dual Gain Shooting, a first in the Alpha series[xii], optimizes sensor performance to reduce noise losing shadow detail for smooth gradation and wide latitude

· Redesigned in-camera stabilization expands the roll-direction compensation range by 2x5; Dynamic active Mode[xiii] delivers smooth and steady handheld

· 32-bit float audio internal recording in camera when paired with the XLR-A4 XLR adaptor, eliminating the need for fine adjustment on location[xiv]

Key Features of the XLR-A4 XLR Adaptor

· Supports in-camera digital audio recording with up to 4-channel; XLR microphones, such as the ECM-778 (up to 2ch), and connects 3.5 mm stereo mini jack microphones (2ch stereo) via the Multi Interface (MI) Shoe

· Dual AD converters digitize microphone signals across a wide dynamic range, capturing quiet ambience through loud action with clarity2

· Records digital audio at up to 96kHz 32-bit float 4ch on compatible cameras2, fully leveraging high-end XLR microphone quality. The 32-bit float format eliminates the need for fine gain adjustment on location, significantly reducing the risk of audio distortion14

· Lower profile height design and a reinforced chassis structure compared to the XLR-K3M, supporting stable shooting across on-location scenarios

· Supplied shoe audio extension cable allows placement up to approximately 60 cm from the camera; side routing minimizes interference with rigs and accessories

· USB Audio Class 2.0 compatible; functions as a 96 kHz 24-bit 2ch audio interface when connected to a PC for on-site audio monitoring and editing

Complementing the Alpha 7R VI is a lineup of optional accessories designed to enhance power management, ergonomics, and workflow efficiency for professional creators (sold separately):

· Rechargeable Battery Pack NP-SA100- High-capacity battery with Info LITHIUM functionality, delivering approximately 1.3x the power capacity of the NP-FZ100 Z-series battery. Integrates with camera power management to optimize endurance and thermal behaviour. Includes an in-camera battery deterioration indicator.

· Vertical Grip VG-C6- Ergonomic grip for comfortable vertical or horizontal shooting, housing up to two high-capacity SA-series batteries. Dust and moisture resistant construction, equivalent to the camera body.

· Battery Charger BC-SAD1- Dedicated charger for the SA-type battery NP-SA100. With a USB Power Delivery source of 45 W or higher[xv], charges two batteries to 100% simultaneously in approximately 115 minutes or one battery to 80% in approximately 55 minutes and full charge in approximately 55 minutes. Displays battery pack deterioration status during charging.

· DC Coupler DC-C2- Provides stable continuous power via an external USB Power Delivery source of 100 W or higher a USB-C® to USB-C cable15.

Availability

The Alpha 7R VI will be available from 03rd July 2026 across Sony Center, ShopatSC.com, and Amazon. Customers will also receive one complimentary NP-SA100 battery, worth ₹10,490, with every purchase.

*Offer valid for a limited period only.

About Sony Alpha Community

In an effort to build a robust Alpha community with a strong network of amateur and professional photographers on one platform, a special initiative has been undertaken by Sony India where users can now avail several benefits by simply registering their Alpha cameras, lenses and accessories on the Alpha Community. Some of the benefits of registration include an extended warranty of 3 years (2-year standard warranty + 1 Year extended warranty) and free exclusive workshops by Sony experts and Artisans. Customers can also avail attractive discounts on photo tours (50% discount on photo tours for their first trip and 25% discount for the consecutive trips) and a chance to participate in photography/videography contests to win exciting prizes like cameras, lens and professional camcorders and a lot more. The platform will be a one-stop destination to get all latest updates, firmware updates, free service camps, workshops and new launches for Sony Alpha. For more information, visit Alpha Community.

Explore the new Sony Alpha Community App. We invite you to download, experience, and share feedback on the app.

About Sony India Pvt. Ltd.

Sony India Private Limited (Sony India), a private limited company with its ultimate holding company as Sony Group Corporation, Japan, has established itself as a premium brand in various product categories including television, digital imaging, personal audio, home entertainment, gaming, car audio, and professional solutions. The company places a strong emphasis on customer satisfaction and maintains high standards in sales and services. Sony also prioritizes environmental sustainability, aiming to achieve a zero environmental footprint throughout the lifecycle of its products and business activities to contribute to a healthier and enriched life for all of humanity and future generations.

Indriya, Aditya Birla Jewellery Makes History With India's Largest Hand-Painted Madhubani Hoarding

* Paying Homage To Bihar’s Rich Cultural Heritage

* Following the launch of its Bihar Bridal Collection, Madhuragini, Indriya worked with local artisans to create a 1000 sq. ft. hand-painted Madhubani hoarding with jewellery installation

In a tribute to one of India’s most ancient and spiritually resonant art traditions, Indriya, Aditya Birla Jewellery, has showcased India's largest hand-painted Madhubani hoarding at the Boring Road Entrance in Patna, Bihar. This record-breaking achievement of a 1000 sq. ft. hand-painted hoarding is exemplary of Indriya's deep-roots in Indian tradition while offering contemporary designs. The painting displays the sacred wedding of Lord Ram and Sita, the very stories that are celebrated in the brand’s newly launched collection, Madhuragini.

Created in collaboration with Indriya, Aditya Birla Jewellery with 12 traditional Madhubani artisans from the region over 15 days, the artwork was painted in real time using intricate linework, mythological motifs and culturally significant symbols deeply associated with the art form. The hoarding also features Indriya’s life-size jewellery artwork embedded within the composition, transforming the canvas into a sacred ornamental frame inspired by bridal adornment and ceremonial beauty.

Madhuragini, Indriya’s latest regional bridal jewellery collection is an ode to the visual vocabulary and symbolic richness of Madhubani art. The collection translates the intricate detailing, layered storytelling and sacred motifs of the art form into bridal jewellery designed for the modern Indian bride.

Speaking on the record-breaking initiative, Shantiswarup Panda, Head of Marketing & Visual Merchandising at Indriya said, “Bridal jewellery in India has always been deeply connected to cultural heritage. With the launch of Madhuragini, we wanted to create a moment that imbibed a sense of regional pride in a way that gracefully inspired by Bihar’s rich heritage dating back to the kingdom of Mithila and the marriage of Lord Ram with Devi Sita. Creating one of India’s largest Madhubani hoardings in Bihar itself was a conscious decision to honour the birthplace of the tradition while bringing visibility to the craftsmanship of local artisans an unprecedented scale. In today’s landscape, meaningful cultural experiences create far deeper consumer connection than conventional launches, and this initiative reflects our philosophy of making heritage-led storytelling central to the Indriya brand journey.”

By bringing together traditional artistry, large-scale craftsmanship and bridal storytelling, Indriya continues to champion India’s diverse regional art forms while creating culturally rooted experiences that celebrate heritage in a contemporary and immersive manner.

About Indriya

Indriya, the jewellery brand from Aditya Birla Group, was launched in July 2024. Derived from the Sanskrit word for 'five senses,' Indriya embodies timeless elegance, unmatched craftsmanship, and a captivating sensorial experience. With an exquisite range of diamonds, precious gemstones, and artisanal gold, the brand offers jewellery that transcends traditional artistry and modern aesthetics. Indriya stores are more than just a jewellery store—it is the ultimate destination for bridal collection and celebrations of life’s most cherished moments. For brides-to-be, Indriya is a treasure trove of meticulously designed wedding jewellery, where each piece is a timeless heirloom, seamlessly blending tradition with modernity, ensuring every bride feels radiant on her special day. Beyond weddings, Indriya redefines jewellery as an expression of personal identity and artistry, cementing its position as the go-to destination for all occasions.

Air India Inks Agreement With SIA Engineering Company For Collaboration On MRO

* MoU to explore partnership to contribute towards developing India as a global aviation MRO hub

Air India, India’s leading global airline, announced the signing of a Memorandum of Understanding (MoU) with SIA Engineering Company Limited (SIAEC) to explore a collaboration in Maintenance, Repair and Overhaul (MRO) which will contribute to the development of India as a global aviation MRO hub.

The MoU was signed in Mumbai on 3 July 2026 by Air India Chief Executive Officer and Managing Director, Campbell Wilson, and SIAEC Chief Executive Officer, Chin Yau Seng.

This follows Air India’s earlier collaborations with SIAEC to strengthen maintenance and component support for its growing fleet and network expansion:

(a) Signing of a 12-year Inventory Technical Management (ITM) agreement with SIAEC for extensive component support coverage for Air India’s current fleet of Airbus A320 family aircraft on 21 February 2024;

(b) Appointment of SIAEC as Air India’s Base Maintenance strategic partner for the development of the airline’s Base Maintenance facilities located in Bangalore on 11 May 2024.

The latest MOU aims to deepen the partnership between both parties by tapping on SIAEC’s MRO and technical expertise to bolster Air India’s established airline operations network by jointly developing a world-class MRO ecosystem in India. This collaboration could include the potential formation of an MRO Joint Venture in India, serving the increasing needs of the Indian and regional aviation markets.

Campbell Wilson, Chief Executive Officer & Managing Director, Air India, said: “India’s rapid aviation growth is driving the need for a stronger, more self-reliant MRO ecosystem within the country. As fleet sizes expand and operations scale up, developing local maintenance capacity will be important to support efficiency, resilience and long-term growth. Partnerships such as this can play a constructive role in enabling that broader direction and developing India as a global aviation hub.”

Chin Yau Seng, Chief Executive Officer SIAEC, said: “India is one of the world’s fastest-growing aviation markets, and the continued development of its MRO capabilities will be an important step in strengthening its position within the global aerospace ecosystem.

Through this MOU, we look forward to exploring how SIAEC’s technical expertise can support the progressive build-up of capabilities and capacity in India, alongside our ongoing partnership with Air India.”

The potential collaboration, which is legally non-binding, is likely to be progressively firmed up with material developments in future.

About Air India Group:

The Air India Group – comprising full-service global airline, Air India, and value carrier, Air India Express – is spearheading a new era of Indian aviation. The Air India story began in 1932 when JRD Tata piloted the airline’s inaugural flight and opened the skies for aviation in India. Today, Air India Group employs more than 30,000 people, operates over 300 aircraft and carries travellers to 60 domestic and 51 international destinations across five continents.

Returning to Tata Sons in 2022 following 70 years under Government ownership, Air India Group is in the midst of a five-year transformation programme, Vihaan.AI. As part of the transformation, Air India has placed orders for 600 new aircraft. In addition to taking new aircraft deliveries, Air India is progressively retrofitting all its legacy aircraft. The Air India Group operates South Asia’s largest aviation training academy in Gurugram, India. The construction of a new flying school and a greenfield maintenance base is in progress.

With transformation underway across all facets of the business and India’s rich legacy of hospitality, Air India is committed to being a world class global airline with an Indian heart.

For more news on Air India, visit http://www.airindia.com/newsroom

Tata Power Renewable Energy Limited Commissions 100.8 MW Jewali Wind Project In Maharashtra

Photo Caption: Jewali wind project by Tata Power Renewables.

* To generate 299 million units of clean electricity annually and offset over 245 million kg of CO₂ emissions

* Project to power Tata Power Mumbai Distribution consumers and support its Renewable Purchase Obligation compliance

Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited, has successfully commissioned its 100.8 MW Jewali Wind Project in Dharashiv district, Maharashtra. The electricity generated from the project will be supplied to Tata Power Mumbai Distribution and will help contribute towards its Renewable Purchase Obligation targets, supporting its transition to a more sustainable and environmentally responsible Utility.

The project underscores TPREL's strong execution capabilities and commitment to delivering large-scale renewable energy projects. The milestone further strengthens the TPREL's growing renewable energy portfolio and reinforces its leadership in India's clean energy transition.

The project comprises 28 SG 3.6-145 Wind Turbine Generators, based on advanced horizontal-axis wind turbine technology. The facility is expected to generate approximately 299 million units (kWh) of clean electricity annually

The project is expected to offset nearly 245 million kg of CO₂ emissions every year, based on an estimated emissions reduction of 0.82 kg of CO₂ per unit of electricity generated, making a significant contribution towards decarbonisation and enhancing Tata Power's clean energy portfolio.

With this commissioning, TPREL's wind energy portfolio now exceeds 3.9 GW, including more than 1.3 GW of operational capacity, with the balance under various stages of development across Rajasthan, Gujarat, Maharashtra, Andhra Pradesh, Karnataka, and Tamil Nadu.

The project also advances Tata Power's long-term vision of achieving 100% clean energy generation by 2045 and complements its expanding renewable energy portfolio.

With the addition of the Jewali Wind Project, TPREL's total renewable utility capacity has reached 11.6 GW. Of this, 6.7 GW is operational, including 5.4 GW of solar and 1.3 GW of wind capacity, while 4.9 GW is under various stages of implementation. The under-construction portfolio comprises approximately 2.1 GW of solar, 2.6 GW of wind projects and 0.2 GW of BESS, which are expected to be commissioned in phases over the next 6-24 months.  

PNB Gilts Celebrates 30 Years Of Excellence In India's Debt Market

Photo Caption: From left to right: Smt. Anju Mittal (nominee director), Shri Pareed Sunil MD & CEO PNB Gilts Ltd; Shri B.P. Mahapatra Chairman & Nominee Director; Shri Ashok Chandra MD&CEO PNB; Independent Directors – Shri TM Bhasin; Shri GS Gusain, Shri RK Verma & Dr. Rekha Jain.

PNB Gilts Limited, a standalone primary dealer and subsidiary of Punjab National Bank, celebrated its 30th Foundation Day, commemorating three decades of steadfast contribution to the development of India's debt market and the Government securities ecosystem. Established in 1996, PNB Gilts has played a pivotal role in strengthening India's fixed income market through its expertise in Government securities, treasury solutions, market making, underwriting, and debt capital market (DCM) services.

The milestone celebration was graced by Shri Ashok Chandra (MD&CEO, PNB), Shri Pareed Sunil (MD&CEO, PNB Gilts), along with the Board of Directors, senior management, employees, and distinguished guests.

PNB Gilts's growth journey reflects its strong financial fundamentals and market leadership. The Company has grown its net worth to approximately ₹1,700 crore, achieved a Top 10 ranking in Debt Capital Market (DCM) business, and recently completed 25 years of successful listing on the stock exchanges. The Company has also delivered a ~13% CAGR in long-term Net Owned Funds (FY97–FY26), underscoring its sustained financial strength and disciplined growth.

Speaking on the occasion, Shri Ashok Chandra, MD&CEO, PNB said: "PNB Gilts' 30-year journey is a testament to its unwavering commitment to excellence, resilience, and customer-centricity. As one of India's premier Primary Dealers, the Company has played an important role in supporting the development of the Government securities market and strengthening the country's financial ecosystem. PNB Gilts has consistently embraced innovation, robust governance, and prudent risk management to create long-term value for stakeholder."

Over the years, PNB Gilts has built a diversified business franchise by continuously investing in technology, digitising its processes, strengthening risk management practices, and promoting sustainability initiatives

About PNB Gilts Limited

PNB Gilts Limited, promoted by Punjab National Bank, is a leading listed Standalone Primary Dealer in Government Securities. Since its establishment in 1996, the company has played a key role in the Government securities market through market making and underwriting activities, while offering a wide range of fixed-income products and services to institutional, corporate, and retail clients.