Category: Business

Bangalore,  May 29: The German Indian Mobility Summit 2026 took place on the 26th of May  at the Indian Institute of Management Bangalore (IIM Bangalore), bringing together leading voices from industry, government, venture capital, mobility, and deep technology across India and Germany. Hosted by NSRCEL at IIM Bangalore in partnership with the German Indian Innovation Corridor  the summit focused on accelerating cross-border collaboration in mobility, industrial AI, infrastructure, and next-generation transport systems.

The summit convened founders, corporates, investors, researchers, and policymakers for a full day of discussions around electric mobility, AI-driven transport systems, industrial transformation, logistics, public infrastructure, and innovation partnerships between Europe and India.

Participants and speakers included representatives from Mercedes-Benz, Maruti Suzuki, Siemens Mobility, Fraunhofer, Indian Railways, FlixBus India, Ather Energy, Euler Motors, Exponent Energy, Agnikul Cosmos, Aapti Institute, GIZ, NSRCEL, Halusa Advisors, family offices, venture capital firms, and leading Indian mobility startups.

The summit forms part of the broader German Indian Innovation Corridor (GIIC) initiative, which aims to strengthen long-term collaboration between India and Europe across strategic sectors including mobility, AI, manufacturing, healthcare, climate technology, and deep tech. 

Discussions throughout the day focused not only on innovation itself, but on creating practical pathways to pilot projects, market entry, industrial cooperation, investment opportunities, and long-term institutional partnerships between both ecosystems.

Jan Lachenmayer, Chair of the Executive Board,GIIC e.V. – German Indian Innovation Corridor said,

 “The first German Indian Mobility Summit at IIM Bangalore marks an important step toward a deeper Germany-India innovation partnership. At a time of industrial transformation and geopolitical uncertainty, Germany and India must step up and build together for the world, creating shared value by combining industrial excellence, technological innovation and entrepreneurial scale. Our vision at GIIC is to help shape a strong European-Indian axis of innovation leadership that drives global impact, resilience and geopolitical stability.”

The Bangalore summit also marked the beginning of a broader week-long Indo-German programme featuring CXO roundtables, private leadership dinners, curated meetings, and institutional visits across India.

The initiative continues on 29 May with the German Indian Innovation Summit at IIT Delhi in partnership with IvyCap Ventures, focusing on “AI for Industries” and the next phase of industrial transformation between India and Europe.

Western Australia’s Aboriginal tourism sector is entering a new phase, with the official launch of the Cook Labor Government’s next Jina Plan to strengthen Aboriginal-led visitor offerings across the State.

The Jina: Western Australian Aboriginal Tourism Action Plan 2026-2030 outlines the Cook Labor Government’s framework to grow Aboriginal tourism businesses, support jobs and strengthen Aboriginal culture as the heart of the State’s visitor economy.

The Plan outlines 40 initiatives that will be delivered by Tourism WA in partnership with the Western Australian Indigenous Tourism Operators Council (WAITOC) and seven Cook Government agencies and is backed by a $20 million investment.

WA Tourism Minister Reece Whitby joined WAITOC chair Darren Capewell and CEO Robert Taylor in Carnarvon at the 2026 Perth Airport WA Tourism Conference to celebrate the launch of the plan and meet with Aboriginal operators.

The 2026-2030 Jina Plan comes after the inaugural Jina Plan 2021-2025 delivered strong results, growing the number of Aboriginal tourism businesses to around 150, up from 110 in 2019. It supported initiatives including marketing campaigns, cultural activations, the development of Aboriginal-owned and managed campgrounds, training programs and public art projects.

Visitor interest in Aboriginal tourism continues to grow in Western Australia, with more than four in five visitors expressing interest in experiencing Aboriginal tourism in WA in 2024-25.

In 2023-24, Aboriginal tourism businesses in Western Australia contributed $55.1 million to the State’s economy, an increase of more than 25 per cent from 2021-22.

The Jina Plan 2026-2030 will continue to support Aboriginal communities to stay connected to Country, strengthen cultural pride, and deliver high-quality tourism experiences that showcase Western Australia’s unique cultural heritage.

The plan is a key part of the Cook Labor Government’s strategy to develop and maintain regional destinations and support Aboriginal tourism as a vital sector in building a resilient, diversified economy.

Find out more at Our strategies – Tourism Western Australia

Comments attributed to Tourism Minister Reece Whitby:

“Aboriginal tourism is a cornerstone of Western Australia’s tourism industry, and the new Jina Plan 2026-2030 will build on the success of the first plan to create even more opportunities for communities and businesses across the State.

“The results of the previous Jina Plan speak for themselves – more Aboriginal tourism businesses, more visitors experiencing Aboriginal culture, and stronger connections to Country. This next plan will take that work further and make Aboriginal tourism an even bigger part of Western Australia’s story.

“Through strong collaboration with Aboriginal people, communities, businesses and government agencies, the Jina Plan 2026-2030 will ensure Aboriginal voices and stories remain central to our tourism industry, while supporting jobs and economic growth in regional WA.”

Comments attributed to Aboriginal Affairs Minister Don Punch:

“This plan is about empowering Aboriginal communities to lead, create and grow their own tourism businesses, sharing culture in a way that is guided by community and grounded in Country.

“We are supporting Aboriginal people to shape their own economic future, build strong businesses, create local jobs, and ensure communities directly benefit from tourism across Western Australia.

“At its heart, this plan is about showcasing the strength of culture, connections to Country and knowledge sharing by Aboriginal tourism throughout WA.”

New Delhi, May 29: Kärcher India participated in an exclusive automotive seminar in Jaipur themed “No Matter What Your Challenge Is. There’s Kärcher for That.” The session focused on helping automotive workshops and dealerships improve operational efficiency, maintenance standards, and customer experience through advanced cleaning technologies.

With Rajasthan, particularly Jaipur, emerging as a growing hub for automotive retail and service businesses, the seminar brought together industry professionals, dealership representatives, and business partners to discuss evolving operational requirements and the increasing need for smarter, more efficient workshop management solutions.

The event featured interactive discussions and live demonstrations showcasing how modern cleaning systems can help automotive businesses reduce downtime, improve turnaround efficiency, maintain hygiene standards, and create a better customer-facing environment across workshops and showrooms.

As part of the showcase, Kärcher demonstrated a range of professional cleaning solutions designed for automotive applications:

●High-pressure cleaner – HD 7/16 – Used for efficient vehicle exterior cleaning and heavy-duty automotive washing applications.

●High-pressure cleaner – HD 6/15 – Designed for effective cleaning of vehicles, workshop areas, and automotive equipment.

●Wet and dry vacuum cleaner – NT 30/1 – Suitable for workshop maintenance and vehicle interior cleaning applications.

●Scrubber dryer – BD 43/40 – Used for cleaning and maintaining showroom and workshop floors with improved efficiency.

●Manual sweeper – KM 70/20 – Ideal for indoor and outdoor sweeping applications across automotive facilities.

●Single-disc machine – BDS 43/150 – Designed for deep floor cleaning, scrubbing, and polishing applications.

●Steam vacuum cleaner – SG 4/4 – Used for deep cleaning and sanitization of automotive interiors, surfaces, and hard-to-reach workshop areas.

Speaking at the seminar, Mr Puneet Sharma, MD, Kärcher India, said, “Jaipur and the larger Rajasthan market are witnessing steady growth across the automotive sector, with businesses increasingly focusing on operational excellence and customer-centric service experiences. As workshops, showrooms and dealerships continue to modernize, the demand for efficient and reliable maintenance solutions is also growing. Through initiatives like these, we aim to engage closely with industry stakeholders and showcase technologies that can help improve productivity, optimize operations, and maintain high standards across facilities.”

The live demonstrations enabled attendees to experience Kärcher’s solutions first-hand and understand their role in enhancing operational efficiency and long-term maintenance management within automotive facilities.

Karnataka, May 29: Sri Narasu’s Coffee Company Pvt. Ltd., South India’s iconic authentic coffee brand with a legacy spanning a century, today highlighted its aggressive pan India expansion plan, and strengthen its distribution network and opening its first store in Bangaluru, to be followed by Amaravati. The brand expands its footmark into Kerala, Karnataka, and Andhra Pradesh, after creating a significant foothold in Tamil Nadu, with 78 company owned stores and 180 SKUs, including a range of products in Coffee, Tea, and other food products in the FMCG category. The company is known for its high-quality gold standard coffee blend.

The move is part of company’s strategic expansion plan for the year, after Tamil Nadu, Kerala, Karnataka, and Andhra Pradesh are the next big markets for coffee consumption. Narasu’s Coffee is favourably positioned to acquire a significant market share in these regions, with its strategic geographic location – Salem being at the center for these connecting states. Bangaluru currently has one store, and Amaravati store is set to open in next 2-3 months. Each store will host the range of products including their premium coffee blend, instant coffee, and freeze-dried variants. Similarly, the company plans to enhance is existing distribution of 42 distributors to 150 by the fiscal year end.

Narasu’s Coffee has an extensive portfolio in the instant coffee segment, which includes – Pure Instant Coffee range, Master’s Extra Strong, Insta Strong Coffee range and Freeze dry segment. The price points range from Rs. 560 to Rs. 3340 per kg. and caters to consumers from all economic strata.

Shri. Sivanantham, Chairman, Sri Narasu’s Coffee:

“Our journey has been built on the pillars of ethics, reliability, and integrity values that have earned us the trust of millions of families who have made Sri Narasu’s Coffee a part of their daily lives across generations. Our focus remains firmly on the future without compromising on the standards, and the commitment to quality that has defined us since 1926. We believe in growth with responsibility and will ensure that our consumers always get the value for their spend, consumer satisfaction is a non-negotiable virtue at Narasu’s.”

Mr. Srudheep S, Managing Director, Sri Narasu’s Coffee:

“To sustain a legacy for nearly a century requires deep respect for our roots and an unyielding commitment to quality. We have spent decades building an unassailable foundation in Tamil Nadu in product integrity, supply chain discipline, and consumer trust. Today, we have a strong network of distributors and dealers, we see immense potential in the southern region and aspire to capture a significant market share. Our vision is clear: to bring the authentic South Indian coffee experience to every modern kitchen across India and beyond.

We have a strategic pan India expansion plan charted for next 3 years, the Bengaluru and Amaravati stores mark the commencement our journey to growth. By establishing a strong supply chain network combined with good retail presence, by this fiscal year end, this should add approx. 18 to 20% revenue to our existing portfolio. Our instant coffee range is the key offering and growth driver for us.

The domestic instant coffee market is fast growing and Narasu’s is best placed to create a niche and achieve a significant market share. Out USP is our blend, which has remained consistent for decades, our consumers come to us for the authentic taste and blend we provide. Which is the result of our stringent quality control standards and operational excellence. We are the only brand in Tamil Nadu to ensure the products are dispatched and are on the racks within 24 hours of dispatch.”

Built on a legacy of trust, authentic taste, and an uncompromising commitment to the South Indian filter coffee tradition, Sri Narasu’s Coffee is set to become one of India’s most respected coffee enterprises.

DETROIT, Mich. (May 28, 2026) – ITS America Conference & Expo, organized in partnership by RX Global and ITS America, welcomes 170 exhibitors to its 2026 event, including nearly 70 first-time participants and a growing group of innovative startups featured in the inaugural ITS StartUps Zone. The event takes place June 9-12, 2026, at Huntington Place in Detroit, bringing together over 3,000 public and private sector transportation leaders, researchers, and decision-makers committed to advancing safer, smarter, and more connected mobility solutions.

New Exhibitors Expand the ITS and Mobility Ecosystem

This year’s show floor welcomes companies spanning artificial intelligence, connected transportation, cybersecurity, data analytics, digital infrastructure, autonomous vehicles, and smart city technologies. New exhibitors joining the 2026 lineup include:

• BusPatrol delivers AI-powered school bus safety programs trusted by communities across North America.

• Claro provides AI video analytics and cybersecurity solutions designed to protect logistics and supply chain operations.

• Chainzone Technology is a veteran LED variable message sign manufacturer with global project experience, including major European tunnel and highway deployments.

• Connected Signals delivers real-time, predictive traffic light information directly to vehicles.

• Raytec Systems designs high-performance LED lighting solutions that support license plate recognition, wrong-way detection, and smart city applications.

The complete list of new exhibitors is available at itsamericaevents.com.

Startups Gain a Bigger Stage

ITS America Conference & Expo 2026 introduces the all-new ITS StartUps Zone, a dedicated space on the show floor built exclusively for emerging transportation companies, with an estimated 5 companies set to participate. The event also wants to cast a spotlight on other start-up companies that are exhibiting on the show floor with a larger presence, such as Mobito Neuweb, Inex.Net, ASX, ViaSight and Intreelligent. ITS America Conference & Expo ensures new voices in transportation receive the visibility and connections they need to grow.  Placed alongside the industry’s most established players, emerging companies gain direct access to the agencies, investors, and partners who can advance their technologies from concept to deployment.

“The growth in new exhibitors and startups reflects the extraordinary momentum building across the intelligent transportation sector,” said Laura Chace, President and CEO, ITS America. “Cities, agencies, and industry partners all benefit when the full range of innovation, from established platforms to emerging technologies, is represented in one place. ITS America Conference & Expo is exactly that place, and we are proud to be the platform where the future of transportation comes to life.”

More to Discover for Attendees 

The expanded exhibitor lineup gives attendees more opportunities to explore new technologies, identify deployment partners, and learn from real-world implementations. From advanced cybersecurity platforms and AI-powered traffic management tools to connected vehicle systems and smart infrastructure technologies, the 2026 show floor offers a broader, more diverse range of solutions than ever before.

“The ITS StartUps Zone is a direct response to the appetite we see for emerging technology across the transportation sector,” said Jaime McAuley, Event Vice President, ITS America Events, RX Global. “We created this dedicated space so the boldest new innovators in transportation can stand alongside the industry’s most established names, because that kind of access accelerates innovation and drives real results for the communities transportation professionals serve.”

New exhibitors are integrated throughout the show floor at Huntington Place, with the ITS StartUps Zone and other start-up companies exhibiting, the event offers a dedicated destination for the latest emerging technologies. To register and explore the full exhibitor list, visit itsamericaevents.com.

New Delhi, May 28 : Eastman Impex, a player in India’s automotive components and manufacturing sector, has announced an aggressive expansion roadmap with a planned investment of approximately  INR 40 crore year-on-year over the next three years. The investment will be directed towards strengthening its aluminium fabrication and axle assembly parts manufacturing capabilities, further reinforcing its position in the domestic and global markets. 

With a current turnover of INR 700 crore, the company is targeting a significant scale-up to INR 1,200 crore in revenue by 2029. As part of its long-term strategic vision, Eastman Impex is also preparing for a potential IPO by 2030.

The upcoming investments will primarily focus on expanding advanced aluminium fabrication facilities and enhancing production capacity for axle assembly components—key segments that are witnessing strong demand across the automotive and industrial sectors.

Speaking on the development, Gaurav Singal, CEO, Eastman Impex, said,

“We are focused on building a future-ready manufacturing ecosystem by consistently investing in innovation, capacity expansion, and people. Our ₹40 crore annual investment plan reflects our long-term commitment to scaling our aluminium fabrication and axle assembly businesses. With a clear roadmap to achieve ₹1,200 crore in revenue by 2029 and a planned IPO in 2030, we are confident of delivering sustainable growth while contributing to India’s manufacturing ambitions.”

In line with its growth strategy, the company is also strengthening its human resource vision with a strong focus on inclusive hiring and local employment generation. Eastman Impex currently employs over 2,200 workers, including approximately 230 women employees. The company is actively promoting women workforce participation and prioritising recruitment from the local Punjabi talent pool, contributing to regional economic development.

Additionally, Eastman Impex is leveraging various Punjab government schemes to enhance its operational efficiencies and support its expansion initiatives.

With a robust investment pipeline, a clear growth trajectory, and a strong focus on workforce development, Eastman Impex continues to solidify its position as a key contributor to India’s evolving manufacturing and automotive ecosystem .

New Delhi, May 28: Redcliffe Labs today announced the appointment of Vijay T. S. as Chief People Officer (CPO), as the company continues to strengthen its organizational foundation to support its next phase of growth and expansion across India.

In this role, Vijay will lead the company’s people strategy across talent management, leadership development, organizational culture, performance excellence, and capability building to support Redcliffe Labs’ long-term growth and operational excellence.

Vijay, an ISB alumni, joins Redcliffe Labs with over 28 years of experience across healthcare, edtech, technology, manufacturing, and global business environments. Over the course of his career, he has led work across human resources, organizational development, business operations, change management, talent strategy, and leadership capability building. He brings deep expertise in organizational design, performance management, employee engagement, leadership hiring, and building scalable, high-performing teams.

Most recently, Vijay served as Chief People Officer at CureBay, where he worked on organizational design, leadership hiring, performance-linked rewards, and policy frameworks to support the company’s expansion across rural India. Prior to this, he spent nearly eight years at Chegg as Managing Director – India, leading a significant phase of operational growth and organizational scaling for the business in India.

Earlier in his career, Vijay held leadership roles at DuPont, Birlasoft, and Hyundai Motor India, where he built extensive experience across HR transformation, compensation and benefits, employee engagement, capability building, and strategic business partnering.

Commenting on the appointment, Aditya Kandoi, Founder & CEO, Redcliffe Labs, said, “Vijay brings a strong blend of strategic leadership, operational depth, and transformational people experience built over nearly three decades across diverse industries. As Redcliffe Labs continues to scale, strengthening leadership capability and building an agile, high-performance organization will remain a key priority for us. Vijay’s experience in building scalable organizations and aligning people strategy with business priorities makes him a valuable addition to our leadership team.”

On joining Redcliffe Labs, Vijay T. S., Chief People Officer, Redcliffe Labs, said, “After decades of building organizations, I have learned that purpose is what truly sustains growth. What drew me towards Redcliffe Labs was the sincerity behind its vision. A vision shaped by real experiences and a genuine commitment towards making preventive healthcare more accessible for millions of Indians.

My conversations with Aditya Kandoi reflected deep clarity of thought about building an organization that balances growth and impact while remaining equally committed to its people and culture. It feels great to join Redcliffe Labs at this phase of its journey and contribute towards building a strong, purpose-driven organization focused on Better Health Everyday.”

With this appointment, Redcliffe Labs continues to strengthen its leadership team and organizational capabilities as it expands its preventive healthcare ecosystem across India.

National, May 28: Leap Scholar, South Asia’s largest AI-powered study-abroad ecosystem, has released new data showing that Indian students are widening their study-abroad choices by increasingly looking beyond traditional destinations. The data shows rising demand for New Zealand, Italy, Singapore, France and wider Europe, as students evaluate global education through a sharper lens of career outcomes, specialised courses, affordability and long-term ROI.

The shift indicates that destination choice is becoming more strategic. Students are no longer looking only at the most popular countries; they are comparing markets based on what they offer in terms of future-ready courses, employability, lower-cost public university options and post-study value.

A strong example of this shift is New Zealand, where AI-led education is gaining significant traction. The University of Auckland’s Master of AI programme saw demand rise by 33,800% YoY, contributing to the university’s 865% overall growth. This highlights how a sharply positioned programme in a high-demand field can quickly influence destination preference among Indian students.

Singapore is also emerging as a serious contender. It appeared in 26.6% of student conversations, making it the second-most discussed destination after the UK in this dataset. Its proximity to India, strong academic ecosystem and technology-led job market are making it increasingly relevant, though students still need clearer India-specific guidance on costs, jobs, PR pathways and long-term outcomes.

Italy is gaining ground as a fresher-STEM destination. Freshers account for 65.8% of STEM demand, while STEM fields make up 52.9% of all fresher demand for the country. This positions Italy as a strong high-ROI option for Indian engineering and science students, especially due to its lower-cost public university ecosystem.

France is moving beyond its MBA-led perception, recording 541.8% YTD growth, driven by specialised non-management degrees such as MSc Finance and MSc Marketing.

Interest is also building across Europe beyond the UK and Germany, with the Netherlands, Finland, Sweden, Denmark and other destinations appearing in 17.6% of student conversations. However, students continue to seek clarity on tuition, language requirements, work rights, PR pathways and job-market realities.

A separate destination-wise cost comparison for Singapore, France, Italy and New Zealand can also be shared with journalists as background data, for reference and publication at their editorial discretion.

Methodology

This trend report is based on anonymised lead-generation and student-interest data from Leap’s internal database. The insights have been drawn from a relevant subset of students within Leap’s overall database of 1.1 million+ students, filtered basis the specific geography, time period, destination interest, course preference, and student behaviour patterns analysed for this report.

The data has been reviewed to identify directional shifts in study-abroad intent, emerging destination preferences, course-level demand, and student decision-making trends. The report is intended to provide a timely view of how Indian students are evaluating global education opportunities and the factors shaping their choices.

Mumbai, May 28 : Equirus Securities, in its latest 4QFY26 result review on Varroc Engineering, noted that the company delivered an operationally steady performance with revenues and EBITDA surpassing estimates, although higher taxation resulted in a miss at the profit-after-tax  level.

Varroc Engineering reported consolidated revenue of Rs 23.7 billion for 4QFY26, marking a growth of 13% year-on-year and 4% quarter-on-quarter. The performance came approximately 3% ahead of Equirus Securities’ estimate of Rs 23.1 billion.

EBITDA stood at Rs 2.2 billion, up 1% year-on-year and 6% sequentially, surpassing estimates by around 6%. EBITDA margin came in at 9.4%, ahead of expectations, supported by improved operational efficiencies and stable gross margins.

Gross margin for the quarter stood at 35.8%, while employee costs increased 11% year-on-year to Rs 2.4 billion. Other expenses rose 22% year-on-year to Rs 3.9 billion, reflecting continued investments and operational scaling.

Profit before tax  grew 4% year-on-year to Rs 1,074 million, slightly ahead of estimates. However, recurring PAT declined 10% year-on-year and 27% quarter-on-quarter to Rs 693 million, primarily due to a significantly higher tax outgo during the quarter. The effective tax rate rose sharply to 35.7% compared to 23.5% in the corresponding quarter last year.

The company also reported improved contribution from joint ventures and associates, with profit from JV operations rising to Rs 14 million during the quarter compared to Rs 3 million in the year-ago period.

Interest expenses declined 14% year-on-year to Rs 349 million, while other income increased 14% year-on-year to Rs 55 million.

On the cash flow front, cash flow from operations  for FY26 stood at Rs 5.4 billion compared to Rs 7.4 billion in FY25. Capital expenditure during FY26 increased to Rs 4.0 billion against Rs 2.8 billion in FY25, indicating continued focus on capacity enhancement and growth investments.

Equirus Securities maintained that the quarter reflected a “decent operational performance,” though elevated taxation weighed on net profitability.

At the current market price of Rs 589, Varroc Engineering trades at FY27E and FY28E P/E multiples of 21.2x and 16.2x respectively.