Category Archives: Business

Thomas Cook India and SOTC Travel Unveil Winter Travel Trends 2025

Mumbai, December 12, 2025: Winter travel is witnessing growing interest from Indian travellers showcasing a mix of winter adventures, cultural/festive celebrations and exceptional experiences. Thomas Cook (India) Limited, India’s leading omnichannel travel services company, and its group company, SOTC Travel, announced their Winter travel trends 2025, unveiling evolving traveller preferences for the winter/end-of-year season.

A notable highlight this year is the extension of winter holiday travel timelines – till March—providing travellers with an expanded window to explore winter destinations and experiences. Alongside Europe’s alpine routes, Northern Lights and iconic Christmas markets, Indians are showing strong interest in global cultural calendars including the Rio Carnival in February and snow festivals across Japan, South Korea and China in January–February. This evolution reflects how diverse traveller segments—from families and couples to millennials, Gen Z and professionals—are making travel a year-round pursuit, with winter 2025 offering a rich blend of adventure, culture, wellness and luxury. We are also witnessing a growing interest towards closer-to-home destinations with easy visa/visa-free processes and improved connectivity.

Key Winter travel trends

· Soft adventure & Outdoor winter activities: Skiing, snowshoeing, Tobogganing/sledding, snowmobiling, husky/reindeer safaris across Europe’s Alpine regions of Switzerland, France, Austria and Germany, witnessing Northern Lights in Scandinavia and Russia’s Murmansk

· Direct connectivity, no-visa or easy visas and attractive pricing inspiring travel to short haul destinations like Vietnam, Thailand, Philippines, Indonesia, Singapore, Malaysia, Dubai, Abu Dhabi, Oman, Morocco and long haul favourites like Australia, New Zealand

· India and Indian subcontinent’s Andamans, Kerala, Rajasthan, Goa, North East and Sri Lanka

· Winter wellness experiences like thermotherapy and cold plunges, ice bathing in Sweden’s Uppsala and Fjällnora; Norway’s Tjuvholmen and Svalbard, renowned Swiss spa town of Bad Zurzach, Japanese onsen, Korean jjimjilbang, mineral mud baths in New Zealand & Vietnam, wellness retreats in Bali & Thailand; Himalayan spa retreats and Ayurvedic centers in Kerala

· Distinctive stays: eco-friendly glamping in geodesic domes amidst the Swiss Alps; stargazing through glass igloos in Lapland; châteaux/palaces in France, Italy and Austria; traditional mountain lodges in Scandinavia/Georgia; wooden cabins in Himachal Pradesh and Uttarakhand, havelis and luxury tents in Rajasthan

· Event/Cultural calendars: Harbin International Ice and Snow Festival in China, the Sapporo Snow Festival in Japan, Hwacheon Sancheoneo Ice Festival in South Korea, Winter Lights Festival in Reykjavík, Amsterdam Light Festival, New Year’s Eve fireworks celebrations in Sydney Australia, USA’s Las Vegas, San Francisco and California; Christmas markets/ winter wonderland in Europe’s Switzerland, France, Austria, UK and Scandinavia; Rann Utsav in Gujarat, Hornbill festival in Nagaland, Bikaner Camel Festival in Rajasthan

· Wildlife safaris are gaining interest: reverse migration season in Kenya and South Africa; wildlife spotting and trekking in Australia and New Zealand; India’s national parks and sanctuaries like Ranthambore National Park, Periyar National Park and Kaziranga National Park opening up for the winter season

· Cruises continue to be the flavor of the season: domestic and international sailings – Resort World Cruise sailings in Singapore, Disney Cruise Line in Australia & New Zealand, MSC sailings in Dubai-Abu Dhabi; river cruising in Egypt

Mr. Rajeev Kale, President & Country Head – Holidays, MICE, Visa, Thomas Cook (India) Limited, said, “Winter travel is shaping up as a season of discovery for Indian travellers. With the introduction of new air routes, improved direct connectivity and attractive early-booker pricing, we are seeing strong demand across diverse segments—from multigenerational families and couples to millennials and working professionals. While Europe’s alpine adventures and Scandinavia’s Northern Lights remain timeless favourites, there is rising interest in closer-to-home destinations across South East Asia, Central Asia and India, driven by easy visa access and direct/improved connectivity. From a domestic front, Andamans, Himachal Pradesh, Uttarakhand, Kashmir, Kerala, Rajasthan, Goa and North East continue to be the top destinations. What excites us most is the appetite for unique experiences—whether it’s winter wellness in Japan and Scandinavia, distinctive stays from igloos to palaces, vibrant cultural festivals, or wildlife safaris and luxury cruises in Antarctica.”

Mr. S D Nandakumar, President & Country Head – Holidays & Corporate Tours – SOTC Travel, said, “Travel is increasingly becoming a year-round pursuit, and Winter 2025 reflects this evolution with a rich blend of adventure, culture and wellness. Europe’s winter wonderland and iconic Christmas markets continue to inspire festive travel, while unique experiences like witnessing the Aurora Borealis across Scandinavia and Russia are gaining traction. Cruising too has emerged as a strong favourite—whether international sailings across Singapore, Australia and Abu Dhabi, or river cruises in Egypt. This growing appetite underscores how Indian travellers are seeking distinctive experiences across destinations and formats, making winter travel more diverse and dynamic than ever. What’s especially encouraging is the rising interest from India’s Tier 2 and Tier 3 cities, along with strong growth in the MICE segment, signaling a broader shift in travel aspirations across the country.”

Tata Hitachi Unveils Next-Gen Machines & Electric Excavators at EXCON 2025

Hyderabad, Dec 10: Tata Hitachi, one of India’s leading construction machinery manufacturers, officially opened its pavilion at EXCON 2025  South Asia’s largest construction equipment exhibition  under the theme “Reliable Orange.”

Mr. Masafumi Senzaki, the Representative Executive Officer, President & Executive Officer, and COO of Hitachi Construction Machinery in Japan, inaugurated the Tata Hitachi Pavilion at EXCON 2025. His attendance was a notable event, as it marks renewed commitment to India’s infrastructure growth story and HCM’s support to Tata Hitachi for more than 4 decades. It also highlighted India’s pivotal role in Hitachi Construction Machinery Japan’s global growth strategy.

This year’s theme ‘RELIABLE ORANGE’ highlights Tata Hitachi’s unwavering promise of reliability, innovation, and consistent performance, built on a legacy of trust, engineering excellence, and customer commitment.

Reliable Orange is embodied in more than 120,000 units, working with our esteemed customers, who have come to experiencesuperior fuel efiiciency, durability and excellent resale value. As the company continues its journey with more than 120,000 machines sold, it reinforces its legacy of engineering excellence and customer trust. Tata Hitachi’s portfolio is acknowledged for providing superior fuel efficiency across various categories, enabling customers to substantially lower operating costs while enhancing productivity, performance, and sustainability.

Mr. Masafumi Senzaki, Representative Executive Officer, President & Executive Officer and COO, Hitachi Construction Machinery, Japan said,

“India is one of the fastest-growing construction markets in the world, and our collaboration with Tata Hitachi enables us to meet the expectations of Indian customers with world-class machinery and dependable support. With the innovations showcased at EXCON 2025, we aim to empower customers with machines that deliver high output, reduced operating costs, and long-term reliability attributes that define our shared philosophy of engineering excellence.”

Mr. Sandeep Singh, Managing Director at Tata Hitachi, said;

 “Our customer-centric philosophy, people, processes have stood us in good stead in our journey of over 60+years. It is this ethos that has enabled us to build one of India’s largest customer-facing networks in the excavator segment’’.

Speaking about the participation at EXCON 2025, Mr. Singh said;

“EXCON continues to be the most significant platform for the construction equipment industry, and we are proud to showcase our expanded portfolio under the theme ‘Reliable Orange.’ This theme reflects our long-standing promise of reliability, durability, and customer trust. With the introduction of electric machines, new attachments, and live demonstrations of advanced technologies, we are reinforcing our commitment to shaping the future of India’s construction ecosystem. These demonstrations will offer visitors a first-hand understanding of machine capability, efficiency, and operator comfort in real application scenarios. They will also highlight how smart systems, automation, and precision technologies are transforming productivity and safety on job sites.”

He further added ‘’As the country accelerates infrastructure development at an unprecedented pace, our focus remains on delivering machines that are reliable, efficient, and designed for real-world conditions.’’

Tata Hitachi’s participation at EXCON 2025 demonstrates its continued commitment in shaping the future of the construction equipment industry with innovation, sustainability, reliability, and customer-centricity at its core.

From Chaos to Confidence – Future-Proofing Pune & PCMC’s Real Estate Story

By Anil Pharande, Chairman – Pharande Spaces

Pune and its sister city Pimpri-Chinchwad (PCMC) in the West have solidified their position as real estate growth powerhouses, with more than 90,000 homes sold each year. In 2025, these markets infused more than Rs. 5,550 crore in stamp duty revenue into the state government coffers – a strong testimony to the confidence homebuyers and investors have in these twin property dynamos.

Pune and PCMC appeal to people from all walks of life. They have a generous stock of affordable housing and a wide range of homes across other price bands, from budget-friendly options to luxury developments. The IT corridors around Hinjewadi, Magarpatta and Kharadi continue to draw in talent and investments. This continuously drives up demand for homes. End-user demand from families, young professionals, and retirees remains the backbone of these markets, maintaining a stability that many other major cities can only dream of.

Infrastructure Investment Equals Long-Term Value

The story about infrastructure in these two cities is just as interesting. Transformative connectivity projects have fuelled Pune’s and PCMC’s real estate booms. The Pune Metro has been running since 2017 and now covers more than 100 km. The Phase 1A extensions are almost done. On November 26, 2025, the Union Cabinet approved the second phase of the expansion and added Lines 4 and 4A, which will run 31.636 km and have 28 new stations.

Pune’s Rs. 1.30 lakh crore Comprehensive Mobility Plan (CMP) – a 30-year plan – includes ring roads, bypasses, grade separators, and flyovers that work together to fight traffic jams. This is real progress towards making the city more modern and efficient. Likewise, PCMC’s Transit-Orientated Development (TOD) project around 11 metro stations aims to create livelier, more commutable neighbourhoods.

Hard Realities

However, we cannot ignore the reality that explosive growth has outpaced infrastructure problems. The problem is not in these markets’ fundamentals, which are still strong, but in ensuring that these plans are coordinated and carried out efficiently to keep up with Pune and PCMC’s rapid growth.

Consider the number of cars on the roads of these twin cities today – Pune now has more than 35 lakh registered four-wheelers, and 2.5 to 3 lakh more are added each year. The Pune RTO registered 3 lakh new vehicles in 2024, and the PCMC added 1.2 lakh. PCMC now has almost one car for every person. There are 21.45 lakh cars in a population of about 30 lakh. Unfortunately, our roads have not kept up; only 4% of PCMC’s 2,300 km of roads have been improved to handle real-time traffic.

Despite a massive amount of capital being spent, the average speed in both these cities is still only 18 km/h. The Pune Ring Road, which will be a key solution for reducing traffic woes, officially began construction in December 2024. However, the completion date has been pushed back to 2030. This 168.94 km project was supposed to be finished years ago.

Population pressure makes things even more complicated. The number of people living in PCMC went from 17 lakh in 2011 to 30 lakh today, and it is expected to reach 96 lakh by 2041. This sudden increase puts a lot of stress on public services, sewage systems, and the water supply. Even though people in newly merged areas pay higher property taxes, they still don’t have basic services.

Regulatory bottlenecks have resulted in a huge backlog of pending residential projects. Over 100 major housing projects worth Rs. 30,000+ crore in PCMC are stuck because they have not been given environmental clearance yet. These kinds of delays raise construction costs and push back possession dates, which hurts buyer confidence and keeps new supply from coming on the market when demand is still strong.

In the past, PCMC was a deacon of scientific city planning, cluster-based zoning, and superior infrastructure. But in recent years, things have started to go wrong. While beautification projects look nice, it seems we are putting looks ahead of important improvements like widening roads, managing traffic, and better parking. There are plans for development, but they are not always followed through on. PCMC’s most recent development plan, which was only recently in draft form after a ten-year delay, received more than 18,500 objections from citizens.

This shows that there are real problems with planning and execution.

Building on Past Successes – The Way Forward

The good news is that recognising these problems has led to real action. Using data-driven methods and feedback from citizens, PCMC has chosen 25 busy intersections to focus on. The focus is now on changing road layouts and adding grade separators and signal-free corridors.

Anti-encroachment drives are tackling illegal shops and temporary buildings that obstruct traffic. These measures do show that PCMC is trying to get back into a proactive, scientific planning track that used to make it a model for urban development.

The ambitious goals of the CMP and the Rs. 9,858 crore set aside for Pune Metro Phase 2 show that the Maharashtra government is serious about its plans. The CMP framework is a major step towards greater collaboration between the Pune Municipal Corporation, PCMC, traffic police, and transportation authorities.

All stakeholders must be on board to ensure that these projects align with the master plan. The expansion of PCMC’s cluster-based development strategy through transit-oriented development could transform metro corridors into self-sustaining urban ecosystems.

Action is the Magic Word

The opportunity for real estate developers, investors and city planning authorities is waiting to be addressed. Pune and PCMC’s underlying strengths – strong end-user and investor demand, a wide range of market segments, a dynamic IT sector, and relatively low prices – are still intact. The 1.45 lakh property registrations in 2025 (the most in four years) show that buyers are still loyal to their cities despite the traffic chaos, regulatory delays, and various financial market upheavals.

However, the infrastructure story must go from plans on paper to on-ground action. We must uphold our promises to fix the execution gaps causing urban chaos and take coordinated, time-limited actions. Making Pune and PCMC future-ready depends on strong political leadership and will.

There is too much at stake. The real estate developer fraternity is ready to work together with the city planning authorities to usher Pune and PCMC into their next phase of growth. However, there must be a unanimous consensus on one fundamental fact, namely that growth at the cost of liveability is ultimately meaningless and will result in a degraded market that benefits no one.

Anil Pharande is Chairman of Pharande Spaces, a leading real estate construction and development firm famous for its township projects in Greater Pune and beyond. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer of townships in the region. With the recent inclusion of Puneville Commercial into one of its most iconic townships, Pharande Spaces taken a major step towards addressing Pune’s current and future requirements for fully integrated residential-commercial convenience. 

airpay joins elite club of full-stack aggregators with RBI’s cross-border licence

Mumbai, Dec 10: airpay Payment Services has secured approval from the Reserve Bank of India to operate as a cross-border payment aggregator, completing its authorisations under the unified payment aggregator (PA) framework. With this, the company is licensed to operate across PA-O (online), PA-P (physical/POS/QR) and PA-CB (cross-border) categories.

This milestone positions airpay as a homegrown full-stack payments infrastructure provider for Indian enterprises, D2C brands and SMEs, a single compliant platform for collections, payouts and settlements whether they sell in deep-tier Bharat or global markets. The company expects this launch to accelerate scale, projecting a 30–40% rise in processing volumes over the next 6-12 months and anticipating 20%+ revenue contribution from cross-border flows alongside onboarding 50,000+ merchants in the same period.

“Indian business growth is no longer domestic-only. Our exporters, SaaS firms, digital merchants and local retailers are all engaging globally, and they need reliability, compliance and speed in payments,” said Kunal Jhunjhunwala, Founder of airpay Payment Services. “RBI’s approval positions us to support that shift responsibly and at scale. It strengthens our ability to provide Indian businesses a regulated yet seamless bridge to make or collect payments from Mumbai, Manipur or to Madrid,” he further added.

The PA-CB framework brings cross-border payment facilitation under direct RBI supervision with requirements around governance standards, escrow management and foreign-exchange regulations. For businesses, this results in reduced compliance overhead, lower settlement risks, and greater transparency in international commerce.

The timing aligns with India’s shift to global trade. From export-led MSMEs and D2C brands targeting Europe, Middle East and SEA, to service providers and subscription businesses scaling internationally, cross-border e-commerce volumes continue to expand on both the import and export fronts.

India’s payment aggregation ecosystem is entering a phase where reliability, regulatory discipline and full-stack infrastructure are not optional but essential for growth. As businesses scale across online, offline and international markets, they need payment partners who remove friction, reduce compliance risk and ensure money movement remains fully within RBI and FEMA guardrails. The companies that can prove end-to-end compliance while maintaining uptime, security and speed will be the ones powering India’s grassroot and export-led growth while enabling SMEs to seize scaling opportunities without operational or financial hurdles.

With all three licences secured, airpay is now positioned to support the next decade of Indian commerce, enabling Bharat-to-World payment flows while continuing to strengthen the country’s regulated digital-payments backbone.

ADP Appoints Gaurav Rathee as Head of HR for Global Shared Services International India & the Philippines

Hyderabad, Dec 10: ADP India, the world’s largest provider of human capital management solutions, has announced the appointment of Gaurav Rathee as Divisional Vice President and Head of Human Resources, overseeing the people strategy for two of ADP’s Global Shared Services International (GSSI) operations – India and the Philippines.

With a proven track record of over 25 years in human resources leadership, Gaurav brings deep expertise in building world-class talent ecosystems, driving large-scale organizational transformation, and fostering inclusive, high-performing workplaces. In his new role, he will lead the HR strategy for more than 15,000 associates across multiple locations.

Gaurav’s career began in 1999 with the Indian Army, Parachute Regiment Special Forces, where he served for eight years. During this time, he led Special Forces troops in high-pressure environments, overseeing training, performance, welfare and grievance management, and coordinating with government agencies on civic action and disaster relief missions. This early foundation in leadership, resilience, and people management has shaped his approach to building strong, purpose-driven teams throughout his corporate career.

Prior to joining ADP, Gaurav held senior leadership roles at Aon and Genpact, where he played a pivotal role in scaling global capability centers, strengthening leadership pipelines, and enhancing employee experience across diverse functions such as technology, analytics, operations, growth functions, and transformation teams. At ADP, Gaurav’s focus areas include strengthening ADP’s culture of collaboration, nurturing next-generation talent, and reinforcing the company’s position as an employer of choice in the industry.

Speaking about his appointment, Vijay Vemulapalli, General Manager and Managing Director, GSSI said,

“We are delighted to welcome Gaurav to ADP. His extensive leadership experience, strategic mindset, and deep commitment to people development make him an invaluable addition to our Global Shared Services International leadership team.”

Gaurav Rathee, Divisional Vice President and Head of HR, GSSI added,

“Stepping into ADP feels like joining a team that already knows the playbook of best practices, and is ready to invent a few new moves. Workforces today want more than roles, they want purpose, growth, and energy. ADP already has the foundation, and I’m delighted to help amplify that energy across India and the Philippines.” 

Gaurav holds a Bachelor of Science from Delhi University, an MBA in Human Resources from the Institute of Management Technology (IMT) Ghaziabad, an Executive Certificate in HR Management from XLRI Jamshedpur, and a Post Graduate Certification in Business Administration from the Management Development Institute (MDI) Gurgaon.

Khaitan & Co Appoints Dr. Vimal Choudhary as COO to Drive Strategic Growth

Khaitan & Co Appoints Dr. Vimal Choudhary as Chief Operating Officer, Strengthening Leadership Amidst Strategic Growth

Bengaluru, Dec 09: Khaitan & Co, a leading full-service Indian law firm, has announced the appointment of Dr. Vimal Choudhary as Chief Operating Officer (COO). Dr. Choudhary brings more than 23 years of deep experience in global consulting, strategy and operations, most recently as Head of McKinsey’s Global Centres in India and Global Chief Strategy Officer at McKinsey Global Services. He will be based at the Firm’s Mumbai office.  

Haigreve Khaitan, Senior Partner at Khaitan & Co said 

“We are thrilled to have Vimal join the Firm as our new COO. This appointment marks an important step forward in our continuous pursuit of excellence, transformation and strategic growth. In an era where operational sophistication and forward-thinking digital capabilities set industry benchmarks, Vimal’s exceptional track record in building world-class teams, leading global transformation, and driving strategic outcomes at scale will be crucial as we power the next chapter of our Firm’s evolution. His leadership comes at an exciting juncture for us, amplifying our ambition to deliver outstanding value for clients, strengthen our organisational foundations, and accelerate our journey as an employer of choice in the legal sector.”  

As COO, Dr. Choudhary will lead all of Khaitan & Co’s internal functions, with a sharpened mandate to drive strategic initiatives, infuse digital and AI-led innovation, optimise operational infrastructure, and elevate the Firm’s knowledge and capability platforms. His leadership will span all aspects of operations, with focus areas including the implementation of next-generation technology solutions, and instituting best-in-class processes for enhanced collaboration, resilience and scale. 

A Chartered Accountant and an MBA, Dr. Choudhary is a McKinsey veteran where during his 23-year tenure, he held several global leadership roles – shaping strategy and operations for McKinsey Global Services, overseeing the Firm’s largest office complex outside the US in India, and stewarding key initiatives around client services, acquisition integration, digital capability building, talent development and business expansion. He was also served on the Board of Directors at McKinsey Global Capabilities and Services and ETML Singapore, a boutique analytics company acquired by McKinsey. 

Dr. Choudhary’s appointment underscores Khaitan & Co’s commitment to industry leadership, sustainable growth, and fostering an environment that attracts and nurtures top talent. It sets the stage for bold advances in client service, operational excellence, and the Firm’s long-term competitiveness in the evolving legal landscape.

DS Group Expands Hospitality Portfolio in the NE

Guwahati, Dec  9: Expanding its hospitality portfolio, the Dharampal Satyapal Group (DS Group), a leading FMCG conglomerate and multi-business corporation, has announced a strategic expansion of its hospitality portfolio in the North East with significant developments at its existing property – Radisson Blu Guwahati. This move introduces the largest pillar less convention centre in the North East, alongside 85 additional rooms, bringing the property’s total room inventory to 280. The new purpose-built convention centre boasts a 25,000 sq. ft. area which includes a 15000 sq. ft. pillar-less hall having a capacity for 1500 guests, effectively positioning Radisson Blu Guwahati as the region’s largest integrated convention and stay facility that addresses a significant gap in its MICE (Meetings, Incentives, Conferences, Exhibitions) infrastructure as well as weddings.

The new 25,000 sq. ft. convention centre at Radisson Blu, Guwahati will significantly enhance the region’s capacity for large-scale, multi-day conferences and events with integrated accommodation which was a need in this market. It is also ideal for weddings and large functions. This strategic expansion aligns with DS Group’s hospitality growth strategy, targeting high-growth markets with untapped potential. Guwahati was selected due to its emergence as a key economic and administrative hub in Northeast India, presenting a compelling combination of economic significance and rising demand.

Speaking on the occasion, Mr Nathan Andrews, Business Head, Hospitality, DS Group said,

“DS Group’s expansion aims to reposition Radisson Blu, Guwahati, as a preferred destination for business and leisure events, leveraging the city’s evolution as a gateway to the Northeast. By focusing on personalized service, authentic local experiences, and a tranquil ambiance, the property can seamlessly integrate its unique cultural ethos, continuing to serve diverse travellers while attracting a new segment of business, policy and cultural events.”

The additional rooms are expected to be operational by end of 2026, further enhancing the property’s ability to host large-scale, multi-day events with seamless guest experience. The expansion also elevates Radisson Blu Guwahati’s competitive positioning—not just within the city, but across the broader region.

The Radisson Blu in Guwahati offers an exotic and unique dining experience that truly highlights the rich culinary heritage of India’s North East. While Café B-You provides a diverse selection of international buffets and à la carte options with Mediterranean and Indian influences, the true gem for food enthusiasts is Nest Asia. Nest Asia is a major draw for guests, offering a curated North-Eastern dinner that takes diners on a delectable journey through the flavours of the “Seven Sisters” states. Here, one can savour authentic local cuisine, such as the comforting Aloo Pitika, a flavourful mashed potato dish, and the tangy Masor Tenga, a traditional Assamese fish curry. The meal culminates in the unique and subtly sweet Black Rice Kheer, a dessert that perfectly encapsulates the region’s distinct culinary identity.

Radisson Blu Guwahati aims to provide guests with an ideal starting point to explore the vibrant culture and stunning natural landscapes of Assam. Conveniently situated just 10 km from the airport, the hotel offers easy access to key attractions such as the sacred Kamakhya Temple (about 9.8 km), the picturesque Amchong Tea Estate (about 45 km), and the renowned Kaziranga National Park (about 174 km). This makes it a serene yet well-connected base for both leisure and business travellers. The hotel distinguishes itself through its exceptional service, thoughtfully curated regional experiences, and meticulous attention to aesthetic detail, seamlessly blending global standards with authentic local flavour. Guests consistently praise the warm hospitality, immersive experiences, and sense of serenity that embody the property’s unique cultural ethos.

DS Group’s long-term vision for its hospitality division is to become a leading player in the Indian market with a strong, diversified portfolio of modern, luxurious, and sustainable hotels across India. The growth strategy involves aggressive pan-India expansion through asset management and brand partnerships, targeting high-growth Tier I and Tier II cities, and capitalizing on the opportunity in domestic and international tourism with a mix of city and resort properties. The company plans to significantly expand its room inventory, aiming to double its current room count by 2029. This ambitious growth will be supported by an investment of INR 1000 crores over the next few years, funded through internal resources and strategic partnerships, leveraging the hospitality sector’s increasing contribution to the group’s overall revenue. While focusing primarily on luxury and mid-scale hotels, DS Group aims to have 10-12 hotels in its portfolio within the next three years, strategically located in key cities across India, including new developments in the North and East, and an expanded presence in the Northeast.

The DS Group has been in the hospitality business since 2000. Presently, its hospitality portfolio encompasses six distinguished properties which include The Namah Corbett and Namah Nainital are Radisson Individual Resorts, Radisson Blu Hotel Guwahati, InterContinental, Jaipur, Holiday Inn Express, Kolkata Airport and the Renaissance Hotel in Bengaluru.

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.