Category: Business

Chennai, May 05: Samsung R&D Institute Bangalore (SRI-B) and Samsung R&D Institute Noida (SRI-N) have announced the launch of the 2026 edition of Samsung Mobile Advance (SMA), the company’s flagship global startup incubation and partnership programme focused on advancing next-generation mobile technologies.

Rooted in Samsung Electronics’s Open Innovation vision, the SMA programme aims to bridge the gap between deep-tech startups and Samsung’s global mobile ecosystem, enabling breakthrough innovations across millions of devices worldwide.

With its latest edition, SMA invites startups from India to collaborate with Samsung in shaping the future of mobile experiences. Since its inception, Samsung’s Open Innovation initiative has focused on combining external innovation with in-house R&D to deliver differentiated consumer experiences.

Launched in India in 2023, SMA introduced a dedicated grant funding model of up to $50,000 for Proof-of-Concept (PoC) development, with no equity taken from participating startups. This approach enables startups to validate, scale, and integrate their innovations within Samsung’s ecosystem.

Mohan Rao Goli, Managing Director and CVP, SRI-B, said,

“SMA reflects our deep commitment to open innovation, bringing together startup ingenuity and Samsung’s global R&D strength to co-create the future of mobile experiences. We aim to build long-term partnerships that translate bold ideas into impactful solutions at global scale.”

Kyungyun Roo, Managing Director, SRI-N, added,

“Through SMA, we focus on partnering with startups that demonstrate strong cultural and technological synergy, integrating external innovation with Samsung’s R&D expertise.”

Focus Areas for 2026

SMA continues to encourage startups across a wide range of domains, including:

• Artificial Intelligence (AI)
• Extended Reality (XR)
• Security
• Health
• Camera and Imaging
• Audio
• Wearables and mobile ecosystem innovations

Programme Structure & Timeline

The programme follows a multi-stage evaluation and incubation process:

• Application Submission: April – June 30, 2026
• Application Review: July 2026
• Pitch Day: September 2026
• Final Selection: Post Pitch Day
• Programme Commencement: October 2026
• PoC Demo Day: Final showcase with potential pathways to commercialization

Benefits for Startups

Participants in SMA will receive:

• Grant funding (no equity) for PoC development
• Mentorship from Samsung’s global experts
• Access to Samsung’s product ecosystem and distribution scale
• Opportunities for strategic partnerships and investments
• Long-term collaboration within Samsung’s innovation ecosystem

Over the years, Samsung has collaborated with startups across domains such as voice intelligence, 4D modelling, and security, reinforcing its commitment to co-creating impactful, real-world solutions.

With the 2026 edition of SMA, Samsung R&D Institutes in India reaffirm their commitment to empowering startups, accelerating innovation, and shaping the future of mobile technology through meaningful partnerships.

Startups building transformative mobile technologies are invited to apply before June 30, 2026, and become part of Samsung’s global innovation journey.

Mumbai, May 5 (BNP): Indian equity markets closed lower on Tuesday as renewed geopolitical tensions in the Strait of Hormuz and concerns over the fragile US-Iran ceasefire weighed on investor sentiment.

Benchmark indices came under selling pressure during a volatile trading session, with broader risk aversion also driven by a weakening rupee, which hit a record low against the US dollar amid rising crude oil prices.

The 30-share BSE Sensex ended the day down 251.61 points, or 0.33%, at 77,017.79. During intraday trade, the index had fallen as much as 754.37 points to 76,515.03 before recovering some losses.

Market participants remained cautious as elevated oil prices and global uncertainty added to concerns over inflationary pressures and foreign capital flows.

New Delhi, May 5 (BNP): India’s net direct tax collections recorded steady growth in the financial year 2025–26, rising 5.12% year-on-year to ₹23,40,406 crore, according to data released by the Central Board of Direct Taxes (CBDT).

Gross direct tax collections for the fiscal stood at ₹28,11,936 crore, marking a 4.03% increase compared to the previous financial year. The growth was driven by stable inflows from both corporate and non-corporate tax segments, reflecting consistent economic activity and improved compliance levels.

Corporate tax collections showed strong performance, increasing to ₹13,81,606 crore from ₹12,72,542 crore in FY25. Non-corporate tax collections, which include taxes paid by individuals, HUFs, and other entities, stood at ₹13,72,474 crore.

Collections from Securities Transaction Tax (STT) also saw an uptick, reaching ₹57,522 crore during the fiscal year.

Meanwhile, refunds issued declined slightly by 1.09% to ₹4,71,531 crore, which contributed to higher net tax collections. Analysts noted that the overall figures indicate steady tax buoyancy and efficient tax administration despite global economic uncertainties.

The data reflects a balanced contribution from corporate and individual taxpayers, underscoring the resilience of India’s tax system.

Mumbai, May 05: Recon Oil Industries Pvt. Ltd., a leading manufacturer of premium edible and application-based oils, celebrated Poila Baisakh (Bengali New Year) by strengthening its bond with the Bengali community in Mumbai. Through a series of on-ground activations, TEZ Premium Mustard Oil collaborated with several prominent Durga Puja committees across the city to bring the “goodness of nature” directly to consumers during this auspicious period with a special offer.

The “Notun Bochor with full on TEZ” campaign featured a heavy on-ground presence at local committee gatherings, where families celebrated the New Year. To enhance the festive experience, Recon offered special prices, exclusive offers to consumers, ensuring that the traditional flavours of the season were accessible to all.

TEZ Premium Mustard Oil is recognized for its PT3 Kachchi Ghani process, which ensures natural pungency and a product that is rich in MUFA, Omega 3, and Omega 6. As part of Recon’s commitment to purity, the oil is produced using a proprietary Seed-to-Oil technology that preserves natural micronutrients without the use of chemicals or refining.

Speaking on the initiative, Nirmalya Biswas, Head of Marketing, Recon Oil stated:

“With a legacy of 35 years of manufacturing premium edible oil, our mission is to integrate the goodness of nature into the daily lives of our customers. Collaborating with Durga Puja committees during Poila Baisakh or Bengali New Year allowed us to engage directly with the hearts and homes of our consumers. Activities like this reinforce our brand promise of purity and tradition, ensuring that the authentic taste of TEZ mustard oil continues to be a staple in every festive meal in this New Year and always.”

New Delhi, May 5 (BNP): Jaguar Land Rover (JLR) India has announced a significant price reduction of up to ₹75 lakh on its flagship Range Rover SV models, ahead of the expected benefits from the India–UK Free Trade Agreement (FTA).

The company said the revised pricing applies to its completely built unit (CBU) models imported from the UK, with the steepest cuts seen in the high-end SV range. The Range Rover SV has been reduced from ₹4.25 crore to ₹3.5 crore (ex-showroom), while the Range Rover Sport SV now starts at ₹2.35 crore, down from ₹2.75 crore.

According to JLR India, the price revision reflects anticipated changes in import duties once the FTA comes into effect, and the new prices are effective immediately.

Managing Director Rajan Amba said the move is aimed at passing on expected trade benefits to customers in advance and strengthening the brand’s presence in India’s luxury car market.

The company clarified that prices of locally manufactured models, including Range Rover, Range Rover Sport, Range Rover Evoque, Range Rover Velar, and Discovery Sport, remain unchanged. Models such as Defender and Discovery will also retain current pricing as they are manufactured outside the FTA’s scope.

New Delhi, May 5 (BNP): India has emerged as the most resilient large emerging market economy since 2020, supported by strong macroeconomic fundamentals and substantial foreign exchange reserves, according to Moody’s Ratings.

In its latest report on emerging markets, Moody’s noted that India’s sizeable forex reserves have helped curb currency volatility and strengthen investor confidence during periods of global uncertainty and economic shocks.

The rating agency stated that India is well-positioned to manage future external shocks, citing a clear and predictable monetary policy framework, well-anchored inflation expectations, and a flexible exchange rate system that allows adjustment when required.

Moody’s further observed that India is among the better-placed sovereigns in the emerging market space, adding that the country is likely to enter any future stress periods with strong and readily accessible economic buffers.

New Delhi, May 05:  Redcliffe Labs today announced that Gaurav Jain has taken on the role of Chief Operating Officer (COO), marking a key leadership milestone as the company continues to scale its operations and strengthen its technology-led, consumer-first diagnostics ecosystem to make preventive diagnostics more accessible, affordable, accurate, and actionable across India.

Gaurav’s transition reflects a journey defined by consistent execution, cross-functional leadership, and the ability to scale high-impact business functions, underscoring Redcliffe Labs’ focus on building leaders from within.

With two decades of experience across pharmaceuticals and diagnostics, Gaurav brings a strong track record of driving growth, operational excellence, and profitability across business verticals. His leadership has consistently translated into sharper execution, stronger performance, and scalable transformation.

Joining Redcliffe Labs in November 2021 as Senior Vice President & Head of Growth, Gaurav’s journey within the organization reflects a progression built on ownership, scale, and impact.

He began by driving new initiatives and expansion opportunities before taking on the responsibility of building and scaling the home-collection phlebotomy network, significantly strengthening last-mile connectivity and service reach.

As his role evolved, he went on to lead the online business P&L as its Chief Business Officer (CBO), where his focus on execution discipline, cost efficiency, and consumer experience helped turn the vertical into a sustainable and profitable growth engine.

He also played a key role in building AI-powered post-report consultation and personalized diet solutions, advancing the company’s Care Beyond Reports philosophy from insights to actions.

In subsequent roles, he integrated logistics with phlebotomy operations to create a unified field services model, improving operational efficiency at scale. He also led supply chain management and lab operations, with a strong focus on turnaround time (TAT), customer experience, cost optimization, and margin improvement, strengthening service delivery across the network.

Gaurav will work closely with Dr. Sonal Saxena and Dr. Gurpreet Kaur Malik to further strengthen clinical excellence across Lab Operations driving diagnostic accuracy, standardization, and ensuring that our scale continues to be anchored in top notch quality.

From building new growth engines to strengthening core operations and quality systems, his journey reflects a rare blend of entrepreneurial thinking and execution discipline, closely aligned with Redcliffe Labs’ next phase of growth.

Commenting on the development, Aditya Kandoi, Founder & CEO, Redcliffe Labs, said: “At Redcliffe Labs, we believe that the strongest leaders are those who grow with the purpose of the organization and build alongside it. Gaurav’s journey is a strong reflection of that belief. From driving growth initiatives to strengthening field operations, supply chain, and lab efficiency, he has consistently taken ownership of critical business functions and delivered impact at scale. His ability to work hand in hand with teams, solve for execution, and stay aligned with our larger mission of making quality diagnostics accessible has been remarkable. This is a well-deserved recognition of his contribution, and I am confident that in this role, he will further strengthen our systems, operational excellence, and customer-first approach as we move into our next phase of growth.”

On stepping into the role, Gaurav Jain, Chief Operating Officer, Redcliffe Labs, said:  “My journey at Redcliffe over the last five years has been both professionally and personally transformational. What makes it special is not just the scale we’ve built, but the impact we’ve been able to create – touching over one crore lives across the country. And yet, it truly feels like day one. The opportunity ahead of us to move India from illness care to proactive, preventive healthcare is massive. As I take on this role, my commitment is to keep building with the same intensity and purpose, ensuring that every test we do translates into better health outcomes for the people we serve.”

With this leadership transition, Redcliffe Labs continues to strengthen its focus on building a scalable, execution-driven organization, enhancing its capabilities in operations, clinical quality, and customer experience to serve millions nationwide.

Hyderabad, May 5: Kuehne+Nagel has expanded its healthcare logistics footprint in India with the opening of a new temperature-controlled airfreight cross dock facility in Hyderabad. The investment strengthens the company’s ability to support the safe, compliant and reliable movement of healthcare products, in response to growing demand for specialised logistics solutions for pharmaceutical and medical shipments.

Hyderabad is a major centre for pharmaceutical manufacturing, contributing over 40 per cent of India’s active pharma ingredients and vaccine production. Strategically located within this ecosystem, Kuehne+Nagel’s new facility supports efficient handling and distribution while improving proximity to key customers and manufacturing sites.

The 248 sqm facility operates across dedicated temperature zones, including +2°C to +8°C and +15°C to +25°C. These controlled environments are designed to safeguard product integrity across a wide range of healthcare shipments. The site complies with Kuehne+Nagel’s global HealthChain quality standard, ensuring consistent GxP compliance across healthcare supply chains. With the addition of Hyderabad, Kuehne+Nagel now operates two HealthChain-certified facilities in India, following the launch of its Bengaluru Cool Zone facility in December 2025.

Anish Kumar Jha, Managing Director for Kuehne+Nagel India, Sri Lanka and the Maldives, said:

“This investment strengthens our healthcare logistics network in India and brings us closer to customers operating in one of the country’s most important pharmaceutical hubs. By investing in specialised, HealthChain-certified infrastructure, we are supporting Indian healthcare companies as they grow and connect to global markets through compliant, temperature-controlled supply chains.”