Autoverse Mobility Concludes Successful Garage Leadership Summit 2026, Bringing Together India's Independent Garage Ecosystem

· Introduces two strategic initiatives- Autoverse Quick Commerce Program and the Autoverse Franchisee Program; designed to help independent garages accelerate business growth and improve operational efficiency -

· Industry experts, global automotive leaders and garage entrepreneurs discuss the future of India's automotive aftermarket, technology adoption and business growth

Bengaluru, July 5, 2026: Autoverse Mobility, India's fast-growing B2B platform for independent garages, successfully hosted the Garage Leadership Summit 2026 in Bengaluru, bringing together over 100 independent garage owners, automotive experts, technology leaders and aftermarket stakeholders to discuss the future of India's rapidly evolving automotive service ecosystem.

The summit served as a knowledge-sharing platform focused on equipping garage owners with the technical expertise, business insights and digital capabilities required to succeed in an increasingly technology-driven automotive aftermarket.

Led by Mihir Mohan, Founder & CEO, Autoverse Mobility, along with Rama Shankar Pandey, Co-Founder, Shiv Soni, Co-Founder and Krishna Kumar, Co-Founder, the event showcased Autoverse Mobility's vision of empowering India's independent garages through technology, access to quality spare parts and industry knowledge.

At the event, Autoverse Mobility unveiled two strategic initiatives designed to help independent garages accelerate business growth and improve operational efficiency—the Autoverse Quick Commerce Program and the Autoverse Franchisee Program.

The Autoverse Quick Commerce Program enables garages to order automotive spare parts directly through the Autoverse platform with deliveries in as little as 15 minutes from nearby Autoverse stores. Initially available across Bengaluru, the service covers high-demand categories including clutches, suspension components, filters, brake pads, brake discs, belts, hoses, clips and other fast-moving parts.

The Autoverse Franchisee Program allows entrepreneurs and garage owners to establish an Autoverse franchise store while leveraging the company's technology, sourcing capabilities and supply chain expertise.

A key highlight of the event was the panel discussion titled "Building a Profitable Garage in 2026," moderated by Rama Shankar Pandey, featuring leading independent garage entrepreneurs including Ranjith (Owner, Tweak7), Dhiren Mehta (Partner, United Motors), Rajendra (Owner, VR Automotive) and Raghavendra (Owner, Laksh Multibrand). The discussion explored emerging opportunities in India's automotive aftermarket, customer expectations, digital transformation, operational excellence and sustainable business growth for independent workshops.

Speaking on the occasion, Mihir Mohan, Founder & CEO, Autoverse Mobility, said, "India's independent garages are the backbone of the country's automotive service ecosystem. As vehicles become more connected, software-driven and technologically advanced, garages need more than just access to spare parts; they need knowledge, training, digital tools and a strong ecosystem that helps them compete and grow. The two initiatives launched by the company today are aimed at solving critical challenges faced by workshops, including faster access to spare parts and improved inventory management.”

He further added, “Garage Leadership Summit 2026 reflects our commitment to building that ecosystem. Our vision is to empower every independent garage with the technology, expertise and trusted partnerships required to deliver world-class service while building profitable, future-ready businesses."

Commenting on the discussions, Rama Shankar Pandey, Co-Founder, Autoverse Mobility, said, "Independent garage owners today are looking beyond repairs; they are focusing on building brands, adopting technology and redefining customer experience. The conversations at the Summit highlighted the industry's readiness to embrace change and reinforced the importance of continuous learning and collaboration."

The event featured a series of expert-led technical sessions, including "Future-Ready Lubrication – Engine Oils, Additives & E20 Fuel" by Rene Tschamler of LIQUI MOLY, who shared global best practices on lubrication technologies, engine protection and the impact of E20 fuel adoption on vehicle maintenance.

Participants also attended a practical technical workshop on DPF (Diesel Particulate Filter) Regeneration, conducted by Alyasir Qureshi from Launch, which focused on diagnostics, preventive maintenance and servicing modern diesel vehicles.

The Summit also introduced attendees to Autoverse's latest digital capabilities through a product session titled "Before WhatsApp, Open Autoverse", presented by Vidhi Jha, demonstrating how technology can simplify spare parts sourcing, ordering and business operations for workshops.

The event concluded with networking sessions that enabled participants to engage with industry experts, technology providers and fellow garage owners, fostering meaningful partnerships and knowledge exchange. Through initiatives like the Garage Leadership Summit, Autoverse Mobility aims to continue building a connected, digitally enabled and future-ready ecosystem for India's independent automotive aftermarket.

About Autoverse Mobility

Founded by Mihir Mohan in Bangalore, along with Shiv Soni, Krishnakumar (KK) and Rama Shankar Pandey - an automotive aftermarket veteran with over three decades of experience across Bosch, CEO of Hella India, and CEO of Tata Greens’, Autoverse combines strong industry knowledge with a technology-first approach to solving long-standing inefficiencies in the automotive aftermarket.

Autoverse Mobility is an innovative distribution platform dedicated to revolutionizing the Indian automotive aftermarket. Our mission is to streamline the supply chain of genuine auto parts, ensuring multi-brand workshops receive timely deliveries that support safe and reliable vehicle maintenance.

With a keen focus on authenticity and customer satisfaction, Autoverse Mobility is committed to elevating the standards of auto service across the nation. By leveraging cutting-edge technology and a robust logistics network, we aim to be the partner of choice for garages seeking quality and excellence.  

Taneira Launches Its Sale Across A Curated Collection Of Handcrafted Sarees And Ethnic Ensembles

* Avail up to 40% off on sarees and up to 50% off on kurtas and kurta sets, featuring thoughtfully crafted styles for weddings, festivities and special occasions

Taneira, a TATA product, has announced the launch of its Sale, offering customers an opportunity to bring home handcrafted sarees and ensembles at exceptional value. Commencing from 1st July 2026, the Sale offers up to 40% off on select sarees and up to 50% off on kurtas and kurta sets across Taneira stores and online. Encircle members can also enjoy an additional 5% off during the first five days of the Sale. The Sale offers customers an ideal opportunity to invest in timeless pieces for weddings, festive occasions and celebrations throughout the season.

Known for celebrating India's rich textile heritage, Taneira brings together an extensive repertoire of handcrafted weaves sourced from renowned weaving clusters across the country. The Sale spans some of the brand's most-loved saree collections, including Kanjeevarams, Banarasis, South Silks, Tussars, Jamdanis, Sambalpuris, Ikats, Chanderis, Maheshwaris, Kota Dorias and more—each representing the legacy of distinct weaving clusters.

As customers begin preparing for weddings, festive celebrations and other special occasions in the months ahead, Taneira's Sale presents an ideal opportunity to explore a thoughtfully curated selection of handcrafted sarees, alongside elegant kurtas, kurta sets, blouses and unstitched ensembles crafted from pure and natural fabrics. Whether choosing timeless heirloom-worthy drapes or contemporary ethnic wear for every celebration, customers can discover styles that beautifully reflect India's rich textile heritage. At the heart of Taneira lies an unwavering commitment to authenticity and purity. Every pure silk saree is certified with the Silk Mark, while select collections also carry Zari Certification, reinforcing the brand's promise of genuine quality. Guided by its enduring values of trust, Taneira continues to celebrate and preserve the country's time-honoured weaving traditions while making handcrafted excellence accessible to discerning customers.

Speaking about the Sale, Mr. Somprabh Kumar Singh, Chief Sales and Marketing Officer, Taneira, said, "At Taneira, every creation is rooted in India's rich textile heritage and crafted with authenticity. Through the Season Sale, we invite customers to explore a thoughtfully curated collection of handcrafted sarees and ensembles that celebrate craftsmanship and enduring style."

Visit the Taneira store or shop online at www.taneira.com and enjoy exclusive offers.   

MTR & Vasu Dixit Bring Karnataka's Love For Sambar To Life With A New Anthem

* Unveiled through a special live performance by Vasu Dixit in Bengaluru, the Sambar Anthem is a musical tribute to the flavours, memories and traditions that have made Sambar an inseparable part of Karnataka's cultural identity

MTR Foods, one of Karnataka's most loved and trusted food brands, has launched the Sambar Anthem, a musical tribute celebrating the state's deep-rooted love for Sambar. Created in collaboration with acclaimed musician Vasu Dixit, the anthem captures the flavours, traditions, stories and nostalgia that have made Sambar an inseparable part of everyday life across Karnataka.

For generations, Sambar has been more than just a dish in Karnataka; it is a part of the state's cultural identity. From accompanying idlis and dosas at breakfast to being served alongside rice at family meals and festive gatherings, it is a dish that transcends occasions, regions and generations. Every household has its own recipe, its own preferences and its own Sambar story, making the dish both deeply personal and universally loved, and often the subject of spirited conversations around the dining table.

As one of Karnataka's leading brands in the Sambar Masala category, MTR has long played a role in preserving and popularising the authentic taste of Sambar through products that have become a trusted part of kitchens across the state. With the Sambar Anthem, the brand builds on this legacy by celebrating the dish's place in Karnataka's culture through the coming together of food, music and community.

At the heart of the anthem is the voice of the community itself. As part of the campaign, MTR and Vasu Dixit invited consumers to share their memories, stories and experiences around Sambar. Drawing inspiration from these authentic voices, Vasu transformed these sentiments into an original composition that reflects the warmth, nostalgia and sense of belonging that Sambar evokes across the state.

To mark the launch, Vasu Dixit performed the Sambar Anthem live in Bengaluru, bringing together food lovers, music enthusiasts and consumers in a celebration of Karnataka's rich culture.

Speaking about the initiative, Sunay Bhasin, CEO, MTR Foods, said “For generations, MTR has celebrated the authentic flavours that define Karnataka's food culture, and Sambar remains one of its most beloved culinary icons. Through MTR Sambar Powder and our wider portfolio, we have had the privilege of being part of millions of meals and memories. When we set out to celebrate Karnataka's love for Sambar, we wanted to do so through a voice that genuinely reflects the culture and spirit of the region. Vasu Dixit, with his deep roots in Karnataka and ability to bring local stories to life through music, was a natural choice for this collaboration. Together, we wanted to create something that brings to life how a simple dish can inspire stories, conversations and a sense of belonging."

Commenting on the collaboration, Vasu Dixit said, "As musicians, we are always looking for stories that bring people together. I don't think I have come across many things in Karnataka that evoke as much pride, nostalgia and debate as Sambar. When I began working on the anthem, I wasn't just thinking about Sambar as a dish alone. I was thinking about the sounds, rhythm, memories and emotions that surround it. Through this collaboration with MTR, a brand that has been part of Karnataka's culinary culture for generations, we wanted to turn a shared cultural experience into something people could listen to, sing along with and celebrate together. I hope every listener finds a piece of their own home, family or favourite Sambar memory in the music."

Through the Sambar Anthem, MTR continues its long-standing commitment to preserving and celebrating Karnataka's culinary heritage in meaningful and contemporary ways. By bringing together food, culture and community voices, the campaign reinforces MTR's role in keeping regional food traditions alive and creating deeper connections with consumers through shared experiences and authentic storytelling.

The Sambar Anthem will release on the MTR’s official pages and Spotify on 8th of July.

Tata Motors Limited And Welspun Renewable Energy Private Limited Partner To Develop 86 MW Wind-Solar Hybrid Project

● The project is estimated to generate 200 million units of clean energy annually and offset over 1.4 lakh tons of CO₂ emissions

● The project will provide renewable energy to four Tata Motors manufacturing plants across Jharkhand, Uttar Pradesh, Uttarakhand, and Karnataka, contributing to the company’s RE100 target and advancing its net-zero emissions ambition.

Tata Motors Ltd., India’s largest commercial vehicle manufacturer, has joined hands with Welspun Renewable Energy Private Limited (WREPL), a frontrunner in India’s clean energy transition, for a landmark Power Purchase Agreement (PPA) to co-develop an 86 MW wind-solar hybrid renewable energy project supplying power to Tata Motors’ manufacturing plants in Jharkhand, Uttar Pradesh, Uttarakhand and Karnataka.

Estimated to generate 200 million units of clean electricity annually, the project is expected to offset over 1.4 lakh tons of CO₂ emissions each year. Enabled through co-investment and a long-term Power Purchase Agreement (PPA), this integrated wind-solar hybrid solution will provide a reliable supply of green energy exclusively to Tata Motors’ four manufacturing facilities in the covered states, supporting the production of commercial vehicles.

This initiative will significantly catalyse Tata Motors’ clean energy transition and support its RE100 target by 2030, accelerating meaningful progress toward climate-resilient operations. It also marks a major milestone in Tata Motors’ sustainability roadmap, aligning with the company’s broader ambition to achieve net-zero emissions through responsible manufacturing.

Signing the PPA, Mr. Vishal Badshah, Vice President – Operations, Tata Motors Ltd, said, "This project reflects Tata Motors’ continued focus on building greener and more energy-efficient manufacturing operations. The scale and integrated nature of this wind-solar hybrid solution will help us secure a reliable supply of renewable energy for key commercial vehicle manufacturing facilities, while meaningfully reducing carbon emissions across operations on a sustained basis. Collaborations like these are critical as we progress to fulfil our RE-100 commitment and net-zero aspirations."

Speaking on the occasion, Mr. Kapil Maheshwari, MD & CEO, Welspun Renewable Energy Private Limited, said, “This partnership with Tata Motors represents a defining milestone in Welspun New Energy's journey. We are not merely signing a PPA, we are co-creating a model for how India's largest manufacturers can decarbonize and achieve net zero and sustainability goals. We thank Tata Motors for their trust and look forward to making this one of many long and successful partnerships. At Welspun New Energy, we remain committed to building resilient, future-ready renewable energy infrastructure for both Utilities and C&I consumers”

About Tata Motors Ltd (Formerly TML Commercial Vehicles Ltd):

Part of the USD 180 billion Tata Group, Tata Motors Ltd., (BSE: Scrip code 544569; NSE: Scrip code TMCV) is India’s largest and a globally renowned manufacturer of utility vehicles, pick-ups, trucks, and buses. With over eight decades of leadership in commercial mobility, the company is known for its innovation, reliability, and performance. Its advanced powertrains, connected technologies, and intelligent fleet solutions support a wide range of applications—from last-mile delivery to public transport while seamlessly driving the wheels of the nation’s economy. Guided by its brand promise Better Always, Tata Motors delivers future-ready solutions that enhance customer experience and drive sustainable growth. The company operates in India and South Korea, with a global presence across Africa, the Middle East, Latin America, Southeast Asia, and SAARC countries.

As per the Composite Scheme of Arrangement sanctioned by the Hon’ble National Company Law Tribunal, Mumbai Bench—amongst Tata Motors Limited, TML Commercial Vehicles Limited (the Company) and Tata Motors Passenger Vehicles Limited—the Company’s name was changed to Tata Motors Limited from TML Commercial Vehicles Limited (effective 29 October 2025), and its equity shares are listed on the BSE Ltd and the National Stock Exchange of India Limited. 

The House Of Berunda Unveiled - Berunda Coffee - At The Royal Launch Soiree Celebrating Karnataka’s Coffee Heritage

* Guests tasted the debut collection — Drona, Arjuna and Gajendra — at an evening that paired Mysore court tradition with a working coffee bar

The House of Berunda unveiled Berunda Coffee, its premium Karnataka estate coffee brand, at an exclusive launch soirée this evening — and put the coffee at the center of the room. Guests moved between brewing stations pouring all three debut variants: Drona through the South Indian filter it was blended for, Arjuna and Gajendra as hand-poured brews, each served alongside the story of the palace elephant it is named for.

The evening opened with a traditional Ganesh Aarti, followed by the ceremonial lighting of the lamp by Maharajkumari Kamakshi Devi Wadiyar of Mysore and Mr. M.J Dinesh , Chairman, Coffee Board. A Bharatanatyam performance by the Tharang Academy of Art followed, before members of the House of Berunda addressed guests on the brand’s origins. Attendees included M.J Dinesh, Chairman , Coffee Board, Maharajkumari Kamakshi Devi Wadiyar, Maharajkumar Aatmanya Dev of the Wadwan royal family, Mr Vikram Iyer, Consul General of Peru, Nayantara Urs, Hema Mandana and other celebrated Barista Champions from Karnataka’s coffee, design and hospitality circles.

The collection they tasted is deliberately built as three distinct crafts: Drona, a sun-dried Arabica–Robusta blend (60/40, medium dark ) named for the elephant who carried Mysore’s Golden Howdah for a record eighteen consecutive years; Arjuna, a washed BR Hills Arabica (medium light ) , named for the howdah bearer who died in 2023 defending his handlers from a wild tusker; and Gajendra, a rare small-lot honey-process Arabica , named for the working kumki elephant still in state service. All three are AA-grade, chicory-free, roast-date stamped and sourced from Chikmagalur, the BR Hills and Coorg.

Speaking at the launch, Rajkumari Jayapalashri Anil, Founder, House of Berunda, said: “My mother used to tell me about waking as a child to the smell of fresh coffee, watching her father savour his morning cup. Coffee, in our family, was never just a drink — it connected generations long before I understood why. So tonight is not really a brand launch. It is a continuation of something that began at our family table, long before I was born.”

Dhushyant Anil, Founding Member and great-grandson of the last Maharaja of Mysore, added: “Legacy is meaningful only if it continues to evolve. We are not asking anyone tonight to admire our history — we are asking you to taste what Karnataka can do. If the cup convinces you, the story will take care of itself.”

The evening drew on the traditions of the Mysore royal household, with Karnataka regional dishes paired course by course with the three coffees — Drona with milk against the richer plates, Arjuna black alongside the lighter ones, Gajendra closing the evening in place of dessert wine.

The founders closed with three commitments for the road ahead: more variants to come; sustainability as a non-negotiable, from shade-grown sourcing to sun-dried processing; and a promise to bring more women into the story at every step — on the estates, in the roastery and at the leadership table. It is a pointed ambition in an industry where Karnataka grows roughly 71 per cent of India’s coffee and the country’s exports just set a US$2.13 billion record, yet the growers’ side of the story is rarely told at the premium shelf.

The collection is available in 250g ground packs and single-serve pour-over boxes of five.

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/