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Brakes India and TBK sign business alliance agreement

Chennai, Dec 9: Brakes India Private Limited and TBK Co., Ltd. recently signed a capital and business alliance agreement. With this, Brakes India, a TSF Group Company, acquires 10% shareholding in TBK through a primary capital infusion. The investment marks an important development for both organisations. This paves the way to leverage the strength of both the companies for commercial vehicle braking and create enhanced value for customers and stakeholders.

TBK, a leading global auto component manufacturer in the M&HCV segment specialises in brakes, pumps, and engine-related components.  This move gives both organisations the scope to draw on each other’s strengths. It provides access to complementary geographies and has the potential to engage new customers and explore new supply chains. This opportunity introduces Brakes India’s existing hydraulic and pneumatic products into new export markets. It also opens avenues to extend the complementary product portfolio of TBK in the Indian domestic market. “Through this partnership, both companies will mutually complement each other’s technological strengths and customer bases to the fullest extent, jointly creating high value-added products and solutions for respective markets. Together, we aim to unlock new opportunities and contribute to the advancement of next-generation mobility” said Mr Kaoru Ogata, President & CEO, TBK.

“This milestone is a starting point for a long-term association with TBK. It reinforces our commitment to strategic, long-term growth. With this agreement, Brake India has access to TBK’s line-up of products for the Indian market and will offer Brakes India’s leading pneumatic braking products to new customers outside of India” said Mr Sriram Viji, Managing Director, Brakes India. This collaboration drives the development of cleaner, safer and more efficient commercial vehicle braking technologies, supporting the industry’s shift towards advanced and sustainable mobility.

Reinvigorating India’s Ghost Shopping Centres can unlock INR 357 Cr in annual rentals: Knight Frank India

Mumbai, Dece 9: Knight Frank India today released its flagship retail study, Think India, Think Retail 2025 Value Capture: Unlocking Potential, presenting the most extensive mapping of the country’s retail real estate across 32 cities. A significant finding of the report is that nearly one-fifth of India’s operational shopping centres fall into the category of ‘Ghost Malls’ assets marked by high vacancies, weak tenant curation, ageing infrastructure, and declining relevance. Across 365 shopping centres surveyed, 74 have been classified as ghost assets, representing 15.5 million square feet (mn sq ft) of dormant retail potential. Within this pool, 15 centres with a combined area of 4.8 mn sq ft have been identified as high-potential assets that could deliver as much as INR 357 crore (cr) in annual rental revenues if reinvigorated effectively. Of the 15 shortlisted assets with clear reinvigoration potential, Tier 1 cities hold an opportunity of INR 236 crore in annual rentals, while Tier 2 cities add another INR 121 cr to the reinvigoration landscape.

The study reveals that the ghost mall challenge is not confined to smaller cities or emerging markets. Tier 1 cities account for 11.9 mn sq ft of this dormant stock, indicating that even some of the country’s earliest and most established malls have struggled to keep pace with changing consumer expectations, shifting brand strategies, and the evolution of modern, experience-led retail formats. Tier 2 cities contribute the remaining 3.6 mn sq ft, where operational inefficiencies, inconsistent management practices, and limited anchor presence have restrained shopping centres from reaching their full potential. 

Shishir Baijal, Chairman and Managing Director, Knight Frank India, said,

“India’s retail sector is entering a defining phase of growth, supported by strong consumption and a clear shift toward high-quality organised retail formats. Our analysis shows that reinvigorating 4.8 mn sq ft of dormant mall stock could unlock INR 357 cr in annual rentals, which is a substantial opportunity for developers and investors. With Grade A malls operating at only 5.7 percent vacancy and several Tier 2 cities demonstrating strong absorption trends, the sector is exceptionally well placed for future expansion. As consumer demand evolves and brands scale their footprint, revitalising older centres through redevelopment or adaptive reuse will play a pivotal role in shaping the next chapter of India’s retail transformation.”

Identifying ghost shopping centres is essential to unlocking viable reinvigoration opportunities. High vacancies, unstable tenant mixes, outdated layouts, and weak or missing anchor tenants are the clearest signals of an underperforming asset. Grade C malls and older developments, particularly in peripheral locations, are most vulnerable to obsolescence unless repositioned as community hubs, co-working spaces, or mixed-use developments.

Tier 1 cities are beginning to see a decline in ghost shopping centres as redevelopment, new ownership models, design upgrades, and alternate-use conversions bring ageing assets back to life. With rising flexible workspace demand and evolving retail formats, dormant centres are finding renewed relevance. While Grade A malls continue to outperform and lower-grade assets struggle, tightening quality supply is shifting attention to these revitalise-able centres. With focused interventions, improved management, and curated leasing, ghost malls can be repurposed into viable, future-ready assets that support the next phase of India’s retail growth.

Of the 365 shopping centres across the top 32 cities, 74 are classified as ghost malls. Within this group, immediate opportunity lies in the 15 centres which alone have the potential to unlock INR 357 cr in annual rentals by reinvigorating 4.8 mn sq ft of dormant space. 

Tier 1 cities offer two-thirds of immediate potential to generate a rental revenue of INR 236 cr, and Tier 2 cities comprises the remaining one third with INR 121 cr rental revenue. Reviving distressed centres, often at a lower cost than new builds, can rapidly yield healthy, value-added cashflows. 

India’s dormant retail infrastructure shows strong reinvigoration potential, especially in ageing but well-located shopping centres. Of the 74 ghost malls identified, 44% lie in the West, aligning with both favourable catchments and revenue potential. The West and South together contribute 77% of the estimated rental opportunity, while the Top 8 metros account for 66% of the INR 357 cr annual potential for 2025. Further, a rental yield of 5.86% makes reinvigoration a compelling investment. With improving connectivity and a shift toward experience-led, mixed-use development, revitalising dormant retail assets is set to drive the next wave of growth.

India’s retail real estate is becoming increasingly polarised. While Grade A malls record high occupancy, strong footfalls, and robust brand mixes, ageing and poorly designed centres from the early 2,000s face declining relevance due to structural flaws, weak catchment planning, outdated formats, and anchor tenant exits. Vacancy across 32 cities stands at 15.4%, yet the real challenge is a shortage of quality space, especially in Tier 2 cities. This gap creates a strong opportunity to revitalise dormant malls through design upgrades, tenant remixing, and alternate-use conversions. Success depends on accurate diagnosis and disciplined execution backed by strong design and management. 

In contrast, markets with ageing malls, fragmented ownership, or design inefficiencies demonstrate higher vacancy levels and weaker brand penetration. The analysis shows that vacancy across all shopping centres in the 32 cities stands at 15.4%, but this headline number masks a clear structural divide: Grade A centres enjoy single-digit vacancies driven by steady demand and robust performance, whereas Grade C assets experience vacancies as high as 36%. High streets in many cities continue to thrive, driven largely by Indian brands, while airports maintain a strong mix of premium international and domestic retailers. Overall, the Retail Pulse points to a market where demand is strong, consumer aspirations continue to rise, and the most significant opportunity lies in expanding and upgrading quality retail infrastructure to keep pace with evolving expectations.

Shopping Centre Performances across Cities

Across 32 Indian cities, the report reveals a dynamic, yet uneven retail landscape defined by strong demand for quality spaces and widening disparities between Grade A and lower-grade centres. Tier 1 cities account for 73% of India’s shopping centre stock, but several Tier 2 cities such as Mysuru, Vijayawada, Vadodara, Thiruvananthapuram, and Visakhapatnam have performed remarkably with near-full occupancy and balanced tenant mixes, highlighting growing appetite for organised retail beyond metros. 

High performing Markets based on Vacancy 

A handful of cities clearly outperform the rest on key metrics like vacancy. These high achievers generally have retail supply well calibrated to demand, and benefit from proactive centre management. Shopping centres in such cities operate near full capacity and enjoy healthy tenant mixes.

• Mysuru (vacancy ~2%) – A tightly supplied market with very limited organised retail space. The scarcity of shopping centres relative to demand ensures that any quality centre attracts strong footfalls and remains almost fully occupied.
• Vijayawada (vacancy ~4%) and Vadodara (~5%) – Both are mid-sized cities with steady growth in consumer spends, yet new retail supply has been introduced cautiously. This equilibrium means the existing shopping centres face less competition, keeping vacancies low and retailer interest high.
• Thiruvananthapuram (~6%) and Visakhapatnam (~6%) – Southern India’s rising retail stars, where robust consumer demand meets a new generation of well-managed shopping centres. These cities have benefited from avoiding overbuilding; each new centre has strong anchors and caters to an eager customer base, resulting in consistently high occupancy.

Underperforming Markets based on Vacancy

At the other end of the spectrum, several cities struggle with significant vacant retail space and underutilised shopping centres. The causes range from oversupply and poor planning to operational issues and changing market dynamics:

• Nagpur (vacancy ~49%) – Nearly half of this city’s shopping centre space lies empty. A spate of development in anticipation of future demand overshot what Nagpur’s consumer base could absorb. Excess capacity, combined with only modest growth in retailer interest, has led to centres that never achieved critical mass and languish with high vacancies.
• Amritsar (~41%) and Jalandhar (~34%) – In these cities of Punjab, developers built too many shopping centres in proximity, outpacing the depth of viable retail tenants. Though consumer appetite exists, when multiple large centres compete for the same set of brands, none can sustain healthy occupancy. The result has been chronically half-empty properties as retailers cherry-pick only the top-performing locations. 

Retail Density

Shopping centre density varies sharply, with cities like Mangaluru (1,521) and Lucknow (1,230) showing high penetration, while Pune (1,103) and Bengaluru (1,031) also reflect strong modern retail presence. In contrast, Surat (118) and Ludhiana (218) have limited mall infrastructure, where traditional formats dominate. Among metros, Mumbai and NCR benefit more from sheer market size than density, while Chennai and Hyderabad exhibit mid-level penetration. These contrasts highlight varied levels of market maturity and distinct opportunities for future retail expansion. 

Brand Mix 

Across India’s retail landscape, the mix of international and national brands differs sharply by format, revealing how each environment caters to distinct shopper expectations. Shopping centres offer the most balanced and globally attuned mix, with Indian brands accounting for 67% of the tenant universe and international brands contributing a significant 33%. This makes malls the primary gateways for global retailers entering India. High streets, by contrast, remain deeply rooted in domestic retail culture, with an overwhelming 86% share of Indian brands and only 14% international presence, reflecting their legacy-driven appeal and hyper-local relevance. Airports occupy a unique middle ground with 70% of brands here are Indian, while 30% are international, a ratio shaped by the affluent, captive traveller base that favours premium and global labels alongside established local favourites. Together, these contrasts demonstrate that while shopping centres and airports are driving international brand penetration across the country, high streets continue to champion India’s homegrown retail strength

Cloudera FSI Customers Win at IDC Future Enterprise Awards 2025

India, Dec 9:-Cloudera, the only company bringing AI to data anywhere, today announced that its customers, Taipei Fubon Commercial Bank and Axis Bank, have been named winners in the IDC Future Enterprise Awards 2025. These wins reflect the region’s accelerating shift toward AI-powered operations and reinforce Cloudera’s role as a trusted partner, enabling organizations to harness governed, scalable, and hybrid data capabilities for real-world impact.

“Cloudera is proud to support Taipei Fubon Commercial Bank and Axis Bank in their AI and data transformation journeys” says Remus Lim, Senior Vice President, Asia Pacific & Japan, Cloudera. “Their achievements at this year’s IDC Future Enterprise Awards demonstrate how a strong, governed, and hybrid data foundation enables organizations to build enterprise AI that delivers measurable business outcomes. We congratulate the winners for setting new benchmarks in innovation across the region.”

Taipei Fubon Commercial Bank Wins “Best in Digital Innovation” for Full-Product Recommendation and Optimal Contact Time Model

Taipei Fubon Commercial Bank has transformed its customer engagement strategy by replacing rule-based marketing with a fully AI-powered personalization engine. Powered by two advanced machine learning models the Full-Product Recommendation Model and the Optimal Contact Time Model  the bank delivers hyper-personalized, real-time offers embedded directly into digital and telemarketing workflows. This AI-driven approach has resulted in a 2.4× increase in conversion rates, a 1.3× uplift in engagement, and reduced operational waste across channels.

“Personalization is a key differentiator for the future of financial services, and AI is enabling us to engage customers with far greater precision and relevance,” says a spokesperson from Taipei Fubon Bank. “By combining product recommendation intelligence with optimal engagement timing, we have transformed the way we connect with our customers across channels. This award from IDC is a meaningful recognition of our team’s ability to apply machine learning creatively and responsibly to deliver better outcomes, higher engagement, and more seamless customer experiences.”

“Fubon Bank’s dual-model strategy reflects a shift toward intelligence-led marketing, where relevance and timing are optimized simultaneously. It’s a data-driven approach to engagement that measurably improves conversion and reduces friction,” says Daniel-Zoe Jimenez, Vice President, Digital Innovation, IDC Asia/Pacific. “The impact metrics—2.4× lift in conversion and reduced waste point to a maturing AI capability that aligns business goals with intelligent automation. It’s an example of how data science can be translated into everyday marketing decisions.”

Axis Bank Wins “Special Award for Customer Experience” for AI-Driven Personalization at Scale

Axis Bank has transformed customer engagement for over 50 million customers by building an AI-powered personalization engine on Cloudera’s anywhere cloud platform on AWS. The system analyzes more than 2,000 attributes per customer daily and generates 17,000+ personalized nudge variants across nine channels, including WhatsApp, email, push notifications, and Relationship Manager-assisted engagement.

This initiative has delivered measurable impact:

• 45% of term deposits now originate from personalized nudges
• 70% of instant credit card loans booked via nudges
• 10% uplift in personal loan campaign effectiveness
• 1.5× increase in BillPay registrations through experimentation-driven optimization

“At Axis Bank, delivering meaningful and timely customer experiences is at the heart of our digital transformation,” says Balaji Narayanamurthy, President & Head of Business Intelligence Unit at Axis Bank. “Through our personalization engine built on Cloudera’s platform, we’ve moved beyond traditional segmentation to real-time, AI-powered engagement that reflects each customer’s needs and behaviors. This shift has helped us deepen relationships, increase product relevance, and elevate satisfaction across millions of interactions daily. Our customer-first strategy is not just about using data it’s about turning insight into action to create seamless journeys that build long-term trust and value.”

“Axis Bank’s customer engagement transformation shows how scaled personalization, driven by AI and deep behavioral insight, can move the needle on both experience and conversion. The combination of a robust data foundation and intelligent decisioning models demonstrates maturity in applying AI across complex customer journeys,” says Dhiraj Badgujar, Senior Research Manager, IDC Asia/Pacific.

HEED Unveils India’s First Additively Manufactured  Electric Hydrojet Propulsion System 

Mysuru, Dec 09: HEED, a marine deep tech homegrown startup focused on clean  and accessible water mobility, proudly unveils India’s first additive-manufactured  electric hydrojet propulsion system. Designed, developed, and tested entirely in house in the royal city of Mysuru, this venture marks a significant step in India’s  

In its initial phase, HEED is applying its hydrojet propulsion system to the  recreational watercraft segment, developing fully electric jetboards that  combine performance with forward-looking design and clean propulsion. With this  foundation, the company aims to deliver accessible, clean-powered products that  can set new benchmarks in personal water mobility.

The hydrojet propulsion system is 100% electric and optimised for efficiency  across India’s diverse water conditions. While the current focus is on recreational  use, the system has the potential to power a wider range of future  applications, including performance vessels, passenger transport, and even defence and cargo solutions, positioning HEED as a foundational player in the  country’s long-term ambitious blue economy goals. Engineered in India 

The propulsion unit is supported by a dynamic test bench and sensory system,  both developed entirely in-house. This test setup enables high-fidelity performance  assessments and real-time data collection. With a payload capacity of up to  1000kg and force measurement capabilities reaching 500KgF (equivalent to  5000N or 5kN), the platform ensures the propulsion system can be precisely  tuned and validated under realistic load conditions.  In perspective: Successfully conducted first aquatic test 

Why It Matters 

This business initiative is a significant step toward strengthening India’s capabilities  in designing and building next-generation watercraft. Rooted in Mysuru, HEED  demonstrates what is achievable when performance engineering, local talent, and  electric mobility intersect. As a deep tech venture, the company combines  advanced hardware innovation and systems engineering to tackle complex  challenges in water mobility.

The commitment to in-house development, local sourcing, and domestic assembly  reflects a broader vision of economic self-reliance and technical excellence in  India’s blue economy. 

Impact Potential: 

As one of the first Indian companies to focus exclusively on electric hydrojet  propulsion, HEED is uniquely positioned to help shape India’s future in maritime  transport. While recreational watercraft remain the core priority today, the  foundational technology being built has the potential to scale into multiple sectors  as the company grows.