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.  

Verena Siow Named New SAP Regional President, Asia Pacific Based In Singapore

SAP Asia Pacific (APAC) announced Verena Siow as President for the APAC region, effective immediately. Based in Singapore, she will focus on driving customer success, accelerating business transformation, and helping organizations across Asia Pacific realize the full value of their SAP solutions.

With almost three decades of technology sector experience, Siow has served in multiple capacities during her fifteen-year tenure at SAP, most recently as the Business Suite Leader APAC, driving cloud growth and the end-to-end customer value journey. Prior to that, she was SAP’s Southeast Asia President and Managing Director.

Manos Raptopoulos, Chief Revenue Officer for APAC, EMEA, and MEE, said “Our business is fuelled by accelerated AI innovation, underpinned by our purpose, our people, and our partnerships. Verena brings deep regional expertise, focus on customer success, and exceptional leadership to this important growth market.”

Verena Siow said “It’s a pivotal time to take the reins at SAP Asia Pacific. Our vision for the Autonomous Enterprise connecting data, processes, and people seamlessly, is delivering real outcomes for customers as they reinvent their businesses for the AI era.”

With SAP market units operating in Australia and New Zealand, Greater China, India, Japan, Korea, and Southeast Asia, SAP employs more than 50,000 people across 46 offices and SAP Labs locations in Asia Pacific. SAP works with tens of thousands of customers in Asia Pacific, including NEC Corporation, Coles Group, Wipro, Alibaba Group, Fujitsu Limited, Hyundai Motor Corporation, Fonterra, Queensland Department of Transport and Main Roads, and Asian Paints.

About SAP

As a global leader in enterprise applications and business AI, SAP (NYSE:SAP) stands at the nexus of business and technology. For over 50 years, organizations have trusted SAP to bring out their best by uniting business-critical operations spanning finance, procurement, HR, supply chain, and customer experience. For more information, visit www.sap.com.

Beyond The Gen Z Myth: Four Distinct Luxury Mindsets Reshaping Travel In Asia Pacific

* New research by the Luxury Group by Marriott International challenges assumptions about Gen Z travelers, uncovering diverse motivations and definitions of luxury travel

As Gen Z rises as a defining force in luxury travel, one long-held assumption no longer holds: there is no single Gen Z traveler. A new report from the Luxury Group by Marriott International in Asia Pacific excluding China (APEC), reveals a generation comprising four distinct luxury mindsets, with each redefining luxury on their own terms, from cultural immersion and personal wellbeing to digital disconnection and heritage-driven exploration.

Drawing on insights from 2,800 affluent travelers across eight Asia Pacific markets, including 1,200 Gen Z respondents aged 18 to 29, the report signals a decisive shift. Luxury travel is no longer anchored by demographic factors, but increasingly shaped by intention, identity, and personal meaning.

"Luxury today is no longer defined by a singular standard. It is deeply personal," said Oriol Montal, Regional Vice President of Luxury, Marriott International Asia Pacific excluding China. "Our research reveals that affluent Gen Z travelers are not just participating in luxury travel. They are reshaping it, driven by a desire for meaning, wellbeing, and authentic connection. As the definition of luxury continues to fragment and evolve, understanding these emerging perspectives will be critical for shaping the next generation of travel experiences."

From Followers to Architects of Luxury Travel

Today’s affluent Gen Z travelers are no longer passive participants. Rather, they are deliberate architects of their journeys. More than half fund their own trips, while nearly half plan every aspect of their journeys themselves. Immediate family remains their preferred travel companions (51%), while small-group travel has grown by 17%, signaling a shift toward more intimate, shared experiences.

They also bring sophisticated expectations to every journey. Cultural immersion and engagement with local communities influence destination choice for 87% of respondents, while culinary discovery (86%), proximity to nature (86%), and wellness (85%) are key priorities shaping travel decisions.

At the same time, Gen Z travelers expect luxury to be seamless. Time inefficiencies and communication gaps are among their biggest frustrations, underscoring a growing demand for intuitive, frictionless service. Meanwhile, technology is playing an increasingly important role in trip planning, with 23% already using AI tools for travel inspiration and planning.

Four Distinct Luxury Mindsets

The report identifies four Gen Z archetypes whose definitions of luxury diverge significantly:

The Connoisseur Traditionalist (34%)

For this group, luxury remains rooted in the enduring pillars of hospitality: reputation, service, and craftsmanship. They gravitate toward iconic hotels, exceptional service, loyalty recognition, acclaimed dining and meticulously planned itineraries. Notably, 79% consistently stay in luxury hotels, while 91% say brand reputation influences booking decisions. Loyalty remains a powerful driver, with 85% motivated by recognition and rewards. As one of the most organized traveler groups, 66% book trips at least one to two months in advance, underscoring a definition of luxury grounded in precision, trust, and excellence.

The Future Proofer (30%)

For Future Proofers, travel is an investment in long-term wellbeing. Their journeys are shaped by a desire for optimization and balance, with nearly all (97%) engaging in wellness facilities during their stay, while 95% value access to in-house healthcare experts and consider proximity to nature important when choosing a destination. More than half (57%) are willing to spend more on wellness treatments, far exceeding the broader Gen Z average (20%). Their growing influence reflects the evolution of luxury travel toward an indulgence in preventive health, restoration and holistic wellbeing.

The Quiet Luxurist (20%)

In an era of constant connectivity, Quiet Luxurists are choosing absence over access. They are redefining luxury as the ability to disconnect, disappear, and reclaim stillness. All respondents in this profile (100%) say they limit technology use while traveling, compared with 63% of Gen Z overall. Meanwhile, 85% seek out lesser-known destinations, 60% prefer places before they become popular, and 90% value private dining experiences. Favoring boutique hotels, private villas and secluded escapes, they measure luxury not by visibility, but by the freedom to step away.

The Cultural Reclaimer (16%)

For Cultural Reclaimers, luxury travel is closely linked to identity, heritage and meaningful connection. Every respondent in this group takes an active role in planning family trips, with 65% also acting as the primary financial decision-maker. Half say destinations linked to family heritage are very important, significantly above the broader Gen Z average of 33%. They are also highly engaged travelers, with 88% seeking immersive experiences. Their journeys are driven less by social validation, and more by cultural discovery, personal enrichment and strengthening intergenerational bonds.

A Broader Recalibration of Luxury Travel

Beyond Gen Z, the report also signals a broader recalibration of luxury travel across the region. Fueled by a continued appetite for premium travel experiences, affluent travelers are also becoming more selective, taking fewer trips while extending their length of stay. Average international leisure trips are expected to increase in duration from seven to nine nights, reflecting a shift from frequency to depth. As travelers concentrate their time and spending, expectations around personalization, seamless service, and meaningful engagement continue to rise.

As luxury travel enters a new era, the findings point to a fundamental shift: the future of luxury will not be defined by a single aspiration, but by a spectrum of personal values. From the pursuit of stillness to the search for identity, from wellbeing to cultural immersion, Gen Z is transforming luxury into something more nuanced and more intentional.

For the industry, the implication is clear. Success will depend not on creating one definition of luxury, but on understanding many, and delivering experiences that feel deeply personal, emotionally resonant, and unmistakably relevant.   

ToneTag’s eKosha Brings Banking Beyond Branches With A Voice-First Business Assistant For Every MSME

* Built for India’s 80+ million MSMEs, enabling banks to deepen merchant engagement and unlock new growth opportunities

* Converges payments, banking, and AI into a single device powered by on-device analog Edge AI, turning every merchant counter into an always-on banking channel

* Helps banks reduce merchant servicing costs by up to 60% through continuous, voice-led merchant engagement

* Doubles cross-sell per merchant and reduces churn from 15–20% to 6–9% through customised daily engagement

ToneTag, India’s deep-tech platform, today announced the launch of eKosha, a voice-first business assistant for merchants that enables banks to deliver a full range of merchant banking services directly at the merchant counter without requiring new infrastructure investment.

Building on ToneTag’s vision to transform payment acceptance, eKosha turns every merchant counter into an intelligent, full-service banking endpoint, powered by ToneTag’s proprietary analog Edge AI and contextual intelligence. At its core, eKosha reimagines conventional payment acceptance devices as intelligent banking touchpoints, enabling banks to engage with merchants directly at the point of business.

With more than 80 million MSMEs in India, banks have a significant opportunity to expand merchant services and strengthen everyday banking interactions. eKosha addresses this by transforming the payment acceptance point into a daily banking engagement channel, enabling banks to serve, engage, and cross-sell to merchants through a single device. By creating this direct merchant engagement layer, eKosha reduces dependency on external aggregators and enables banks to own and strengthen merchant relationships more closely.

Combining payments, banking, and AI into a single device, eKosha delivers full banking capability at the point of payment with zero friction. It accepts UPI, UPI 123Pay, and CBDC payments while also functioning as an extended banking channel, enabling merchants to access instant support, essential banking services, personalised loans and credit, government schemes and benefits, direct access to brands, and business insights through natural voice conversations in their own language.

With eKosha, every transaction at the merchant counter becomes an opportunity not just for payments, but for banks to stay continuously connected with merchants, turning each interaction into a moment to inform, assist, and offer relevant financial products. In effect, the device becomes the bank’s relationship manager at the merchant counter, creating a continuous engagement layer that helps banks build richer merchant intelligence, enabling safer credit decisions and faster loan origination.

Speaking on the launch, Kumar Abhishek, Founder and CEO, ToneTag, said, “The merchant counter has always been at the centre of India’s commerce. With eKosha, we are reimagining it as the centre of merchant banking. For the first time, banks have a dedicated, always-on engagement channel embedded at the point where merchants conduct business every day, enabling access to banking services through simple, natural conversations in their own language. This fundamentally changes how banks serve, support, and build relationships with merchants, while helping them drive deeper engagement, improve service efficiency, and unlock new growth opportunities across their merchant ecosystem.”

eKosha integrates ToneTag’s Small Action Language Model (SALM), enabling natural language interactions across all Indian languages without requiring app downloads. What sets eKosha apart is ToneTag’s proprietary analog edge-compute architecture: rather than routing every request to the cloud, the device runs AI inference locally using analog compute, delivering real-time, fully offline voice interactions at a fraction of the energy and cost of conventional digital, cloud-dependent systems. Forged over a decade of transmitting secure data over soundwaves — an inherently analog medium — this analog edge-compute capability is ToneTag’s core differentiator: it enables reliable voice-led banking anywhere, even in low-connectivity environments, and cannot be easily replicated because it is earned through large-scale, real-world deployment rather than funded overnight. It is the foundation on which the next phase of edge-AI-led merchant banking is built.

Deployed directly by banks to merchants, eKosha requires no app, no digital literacy, and no change in merchant behaviour. As an extension of existing banking channels, it enables simpler and faster everyday banking interactions, making services more accessible to merchants.

Banks deploying eKosha can reduce merchant servicing costs by up to 60%, improve merchant stickiness, accelerate loan origination, double cross-sell per merchant, and reduce churn from 15–20% to 6–9% through continuous daily engagement. By improving retention and reducing churn, eKosha also helps banks lower merchant re-acquisition costs while strengthening long-term merchant relationships.

As banks look to deepen merchant engagement and unlock new growth opportunities, eKosha creates a scalable, always-on channel at the merchant counter, bringing together payments, banking, and AI — anchored by ToneTag’s unique analog edge-compute advantage — to power the next phase of merchant banking.

About ToneTag

ToneTag, the brand of Naffa Innovations Pvt. Ltd., is a Bengaluru-headquartered deep-tech platform transforming everyday devices into intelligent financial endpoints using AI, blockchain, and sound-based technologies. ToneTag enables secure, interoperable, and context-aware transactions across a wide range of edge devices including phones, POS machines, soundboxes, wearables, and vehicles. Its full-stack platform spans a proprietary sound protocol and analog edge-compute architecture on edge devices, blockchain-powered infrastructure, and a device management system capable of remotely managing devices at scale. With millions of merchants and tens of millions of daily interactions. Recognized with several industry awards, including as a winner at RBI’s HaRBInger 2021, ToneTag is building in India, scaling in India, and exporting globally.

To learn more about ToneTag, visit https://www.tonetag.com/

Tata Motors Delivers Strong Sales With 1,08,488 Units In Q1 FY27; Sustains Robust 27% YoY Growth

The Q1 FY27 sales in the domestic & international markets stood at 1,08,488 units, compared to 85,606 units during Q1 FY26. June 2026 sales in the domestic & international markets stood at 40,805 units, compared to 30,238 units during June 2025.

Category	June ’26	June ’25	% Change	Q1 FY27	Q1 FY26	% Change
HCV Trucks	9,645	7,359	31%	26,491	21,735	22%
ILMCV Trucks	6,186	4,863	27%	16,971	14,497	17%
Passenger Carriers	7,040	5,658	24%	18,540	15,089	23%
SCV cargo and pickup	13,728	10,056	37%	38,346	28,251	36%
Total CV Domestic	36,599	27,936	31%	1,00,348	79,572	26%
International Business	4,206	2,302	83%	8,140	6,034	35%
Total CV	40,805	30,238	35%	1,08,488	85,606	27%

 

· Domestic sales of MH&ICV in June 2026, was 16,327 units vs 12,871 units in June 2025 (27% YoY); In Q1 FY27 it was 44,571 units, compared to 37,370 units in Q1 FY26 (19% YoY).

· Domestic & International sales for MH&ICV in June 2026, was 18,063 units vs 14,027 units in June 2025 (29% YoY); while in Q1 FY27 it stood at 48,062 units, vs 40,401 units in Q1 FY26 (19% YoY).

· EV volumes saw 4.4X YoY growth in Q1 FY27

Mr. Girish Wagh, MD & CEO, Tata Motors Ltd., said, “We commenced FY27 on a positive note, delivering consistent double-digit growth in each month of Q1, on a year-on-year basis. Despite heightened geopolitical uncertainties, sales for the quarter stood at 1,08,488 units, up 27% year-on-year, reflecting healthy industry fundamentals and sustained demand across segments.

HCV growth continues to be led by increased freight availability, infrastructure and mining activity, while ILMCV demand is supported by e-commerce, FMCG, courier and parcel. SCVPU is seeing improving momentum in last-mile mobility, with electric SCVs and pick-ups achieving highest ever salience of ~10% for the months of May and June. Demand in the commercial passenger segment remains strong, driven by school transport and Government orders.

Our focus on future-ready solutions is translating into traction in the market. Customer interest in electric heavy trucks is strengthening, with our ecosystem-led approach supporting a growing order pipeline. For our international business, we have commenced shipments for the Indonesia order, and are gradually resuming supplies to the Middle East, following a two-month pause.

Looking ahead, while commodity pressures will persist, we expect the momentum to continue, driven by gradual improvement in customer sentiment which had seen softening during the quarter. The growth is expected to be driven by auto and port logistics, e-commerce and core sectors, with the monsoon remaining a key monitorable. With strong market acceptance of our refreshed portfolio and a continued focus on deepening customer engagement, we are well positioned to build on this positive trajectory and drive sustained growth in the coming quarters.”

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 NSE Ltd.