22, Sep 2026
State Budgets Shift Focus to Capex as States Push Fiscal Discipline
New Delhi, Sep 22: State governments are increasingly focusing on capital spending as they look to support economic growth while maintaining fiscal discipline. For FY27, capital expenditure is expected to grow significantly faster than routine revenue spending across 19 states, signalling a greater emphasis on infrastructure and long-term asset creation.
According to the report, capital outlay across the 19 states is projected to rise 16.4 per cent in FY27, compared with 9.2 per cent growth in revenue expenditure excluding interest payments. The difference reflects a shift in budget priorities, with states creating more room for spending on projects that can strengthen economic activity over the longer term.
Infrastructure gets greater budget focus
Capital expenditure typically goes towards projects such as roads, transport networks, irrigation, power, urban infrastructure and other public assets. Such investments can improve connectivity and create the foundation for businesses and communities to expand.
At the same time, states continue to manage regular expenses, including salaries, pensions, subsidies and essential public services. Slower growth in revenue expenditure suggests an effort to contain recurring costs and preserve fiscal space for development projects.
Wider impact on businesses and jobs
Higher public investment can create demand across several sectors, including construction, engineering, cement, steel, equipment and logistics. Infrastructure projects can also generate employment directly and indirectly through the businesses involved in their execution.
For local businesses and smaller enterprises, improved roads, transport, electricity and urban facilities can make it easier to move goods, reach customers and access wider markets. Over time, stronger infrastructure can also improve the environment for private investment.
Balancing development with fiscal prudence
The spending pattern also highlights the challenge facing state governments: supporting growth without allowing fiscal pressures to rise unchecked. States have to meet their regular commitments while ensuring that borrowing and expenditure are increasingly directed towards productive uses.
The focus on capital spending therefore forms part of a broader effort to improve the quality of public expenditure. Rather than simply increasing overall spending, states are seeking to direct a larger portion of their budgets towards projects that can create lasting economic value.
A shift in the quality of spending
The FY27 budget trend shows that states are trying to make development spending more investment-oriented. If these planned projects are executed efficiently and completed on time, the resulting infrastructure could support business activity, improve connectivity and strengthen economic opportunities across regions.
For the wider economy, the key will be how effectively states convert these higher capital allocations into completed projects and productive assets. The combination of stronger infrastructure spending and continued fiscal discipline could shape the pace and quality of state-led economic development in the coming years.
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- By Neel Achary
22, Sep 2026
blackNgreen Builds AI Without Barriers, Powered by an AI-First Workplace
As AI reshapes industries worldwide, blackNgreen (BNG) is focused on a different challenge: making AI accessible to everyone and not just those with smartphones or always-on internet. That mission is driving the company’s next phase of product innovation, global expansion and talent growth as it scales AI-powered platforms across telecom networks in more than 80 countries.
NEW DELHI, Sept. 22, 2026 /PRNewswire/ — blackNgreen (BNG), an 18-year-old technology company serving customers across 80+ countries and handling more than a trillion transactions a month, is putting AI at the centre of its next phase of growth. Its focus spans AI-first products designed to make AI more accessible through telecom networks, as well as the way its own teams work, build and innovate. To support this, BNG is stepping up hiring across technology, sales and business development, in India and globally.
One of the key initiatives is AI On Call, which allows people to access and speak to AI simply through a phone call. The service addresses a major gap in the digital ecosystem: around 3.4 billion people, about 40% of the world’s population, still do not use mobile internet, according to the GSMA, and handset affordability remains one of the biggest barriers. Now live in more than 24 countries, AI On Call can reach about 180 million subscribers through telecom networks.
What makes blackNgreen different
BNG combines deep telecom expertise with capabilities across large language models (LLMs), automatic speech recognition (ASR) and text-to-speech (TTS). This lets it localise AI for new languages, adapt to operator requirements and comply with local regulations in each market. “Most AI today is built for people who are already online. We are building for the person who has never owned a smartphone, and that is now the centre of our product strategy. A phone call is the one interface everyone already knows how to use. Our 18 years inside telecom networks let us take AI there, in local languages, and go live in a new market within days,” said Rahul Gupta, Co-Founder and CEO, blackNgreen.
Turning technology into real-world impact
AI On Call currently handles approximately 60 million queries every month, providing insight into the everyday needs of subscribers across live operator networks. Companionship and emotional support is the largest category, at 22.8% of all queries. Education and learning follows at 14.5%, then news and current affairs (12.5%), sports and entertainment (12.3%), telecom and account services (10.8%), health and medical (9.2%), agriculture and farming (5.4%) and financial guidance (4.3%). Other topics make up the remaining 8.2%. Users spend an average of around 28 minutes on the service each month.
BNG is also transforming everyday communication through AI PA (Personal Assistant), an AI-powered voice assistant that intelligently answers calls on behalf of subscribers when they are unavailable, helping them stay connected without missing important conversations.
Designed for everyone from small-business owners to busy professionals, it helps reduce missed calls and ensures individuals and businesses can stay reachable outside working hours. The service currently handles more than 18% of subscriber calls and is planned to expand to around 18 countries over the next 12 months. Together, these innovations reflect blackNgreen’s broader vision of building AI that reaches subscribers across devices, connectivity environments and everyday telecom interactions.
An AI-First Company, Inside and Out
AI is also being integrated across blackNgreen’s existing products. Its AI outreach platform is replacing traditional outreach platforms across 12 countries and delivering 2.5x conversions, while SmartConnect’s AI-led decision matrix has helped increase revenue by 40%. Inside the organisation, AI is becoming part of everyday work. Teams across functions are being trained to use AI and build their own tools. A specialised automation team has reduced operational effort from 7,200 to 2,200 man-hours, feature sprint cycles have shortened from 15 days to one week, and the product R&D cycle for new launches has fallen from around one year to four months.
Growing the Team Behind Global Innovation
BNG is expanding its engineering, product, marketing, sales and business development teams. The technology team is expected to grow by 65–100% over the next 12 months, and sales and business development are set to double within six to eight months. The company will also add six to seven senior leadership roles. About three-quarters of the new positions will be in India, with the rest across Africa, Europe, Latin America, the Middle East and Southeast Asia.
“Taking AI to new markets at this pace needs a bigger and stronger team. We are hiring across engineering, product, sales & marketing, in India and globally, and we want people who use AI every day to build faster and solve harder problems,” said Rahul Gupta.
Where Ownership Drives Growth
blackNgreen is pairing this expansion with a workplace that gives employees real responsibility early. Its appraisal process no longer relies on a fixed curve, and growth-based profit sharing extends across employee levels. Strong performers work on live operator networks within three to six months of joining and move into product leadership roles as they progress. Business performance is already feeding back to employees. Over the last five months, commercial traction doubled and demand for SmartConnect grew several times over. BNG marked this with company-wide rewards, most of which went to employees outside senior leadership, alongside profit-share payouts linked to business results.
“Our growth model is built on ownership and shared success. People at BNG build products for live operator networks within months of joining, share in the value they create, and progress on capability,” said Atul Tiwari, Chief Human Resources Officer, blackNgreen. For engineers, product builders, AI researchers and business leaders, BNG offers the chance to build technology for global telecom networks and shape how AI is accessed and used at scale.
About blackNgreen (BNG)
Founded in 2008, blackNgreen (BNG) is a global AI technology company enabling telecom operators to accelerate customer engagement, unlock new revenue opportunities and advance digital inclusion. Through its integrated ecosystem of intelligent platforms and digital services, BNG helps deliver AI-powered experiences at scale, making digital services accessible to millions of people across diverse connectivity environments. With 180+ operator relationships across more than 80 countries, blackNgreen combines deep telecom expertise, AI innovation and scalable platforms to help operators grow faster, innovate with confidence and create meaningful business and societal impact.
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22, Sep 2026
ContentLens: India’s First AI Platform That Protects Your Personal Identity
MUMBAI, India, Sept. 22, 2026 /PRNewswire/ — Around 90% of Indians have already encountered a fake celebrity endorsement. Indian celebrities are increasingly turning to courts to protect their personality and identity rights against AI deepfakes and digital likeness misuse. India’s ContentLens provides the solution to protect your personality rights.
ContentLens builds a unique biometric signature for each protected celebrity, covering their face, voice and visual identity. It runs 24/7 surveillance across social media platforms. The moment a potential violation is found, the celebrity’s team gets an instant alert with full evidence and an information package required to initiate and support a takedown request or legal case. India has approximately 15 million active content creators. Even if each creator uploads just 5-6 videos a month, the resulting volume is approximately 75-90 million content pieces. No human team can monitor this at scale. Detection that once took months now takes minutes.
Experiencing the platform firsthand, famous Indian actress Manisha Kandkur says, “I have spent years building my name, my image, and the trust of my fans. When I discovered that AI-generated versions of my face were appearing in fraudulent advertisements, without my knowledge or consent, it was one of the most violating experiences I have had as a public figure. Within days of onboarding, the ContentLens platform flagged multiple instances of my likeness being misused. Every artist deserves this kind of personality rights protection platform.”
Rohan Sahu, Founder & CEO, ContentLens, says, “ContentLens is already working with the Indian music industry and helping them to protect their music IP from unauthorised use. A celebrity’s identity or IP is their face, their voice, the way they carry themselves visually. It is their most valuable and most important personal asset. Generative AI, without safety guardrails, has made it possible for anyone to misuse this IP. Every week, our platform finds potential violations that the celebrity teams had no idea existed, such as fake endorsements, voice clones and scam ads. ContentLens is the only platform in India built specifically to detect it and stop it.”
Hari Nair, Strategic Advisor (ContentLens) & Former CEO (Tips Music Limited), says, “Across celebrity teams in India, the reaction is always the same: they know the deepfake threat is real. What they often don’t realize is that their identity is also being used by brands without permission, a clear revenue loss, and that fake endorsements built on it can just as easily be used to run scams. Do celebrity teams actually know what’s being done with their face, voice and visuals on social media today? If the answer is no, that’s exactly the problem ContentLens solves.”
About ContentLens
ContentLens (www.contentlens.ai) is an AI-powered intellectual property protection platform built for the generative AI era. The company operates across four verticals: celebrity likeness and deepfake detection, music IP protection, content provenance (C2PA) & watermarking, and counterfeit brand detection. ContentLens is headquartered in Bangalore, India, and serves celebrity talent, music labels, sports organisations and enterprise brands seeking to protect their IP at scale.
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22, Sep 2026
NEC India Expands Strategic Partnership with WingArc1st to Bring Data Empowerment Solutions to India
India, Sep 22: NEC Corporation India Pvt. Ltd. and WingArc1st Inc. today announced the expansion of their strategic collaboration in India following the execution of a Master Distribution Agreement between NEC Corporation India Pvt. Ltd. and WingArc Singapore Pte. Ltd, a WingArc1st group company.
Under the agreement, NEC India will provide organizations in India access to WingArc1st’s data empowerment solutions, including Dr.Sum and MotionBoard. Dr.Sum enables enterprise data warehousing and analysis, while MotionBoard supports data visualization and analytics, helping organizations gain greater visibility into their operations and make informed business decisions.
The partnership will focus on opportunities across Enterprise, Financial Services, Manufacturing, and Public Sector/Government sectors, as organizations increasingly look to leverage data and analytics technologies to improve operational efficiency and business intelligence capabilities.
NEC and WingArc1st have collaborated in Japan for more than two decades, combining NEC’s Industrial IoT, consulting, and digital transformation expertise with WingArc1st’s data empowerment technologies. The expansion into India will leverage NEC India’s experience across enterprise, government, and public-sector organizations to further strengthen WingArc1st’s presence in the Indian market.
The partnership reflects NEC’s continued focus on enabling organizations with advanced technology solutions while supporting India’s evolving digital transformation landscape.
22, Sep 2026
India’s Rising Economic Scale Draws Bigger Global Business Interest, Says JPMorgan CEO
Mumbai, Sep 22: India’s rapidly expanding economy is attracting growing attention from global financial institutions, with JPMorgan Chase CEO Jamie Dimon saying the country’s economy could nearly triple in size over the next decade.
Dimon’s comments highlight the increasing importance of India in the global business and investment landscape, as international companies and financial institutions look to deepen their presence in the country.
JPMorgan is also preparing to significantly expand its India operations and research coverage. The bank plans to increase the number of Indian companies it tracks to around 2,000, with nearly 400 companies expected to have dedicated research coverage, according to reports. Its research operations currently cover close to 200 Indian companies.
JPMorgan expands its India footprint
The bank’s growing India presence reflects the country’s expanding corporate and financial markets.
Dimon pointed to the significant increase in JPMorgan’s India workforce since his first visit to the country in 2005. The bank now employs around 60,000 professionals in India, working across technology, investment banking and other specialised functions.
The expansion is also an indication of the increasing role India plays in the global operations of multinational financial institutions.
As Indian companies grow and increasingly look overseas, demand is expected to rise for investment banking, capital raising, financial research, advisory services and cross-border transactions.
More opportunities for Indian companies
A larger international financial presence could give Indian businesses greater access to global investors and financial expertise.
Companies seeking to raise capital, enter overseas markets, form international partnerships or expand their global operations could benefit from deeper links with international banks and investors.
The expansion of research coverage could also bring greater visibility to Indian companies among global investors, particularly as India’s corporate sector becomes more diversified.
Trade agreement remains a key focus
Dimon also called for India and the United States to complete their trade agreement, emphasising the importance of stable and predictable rules for trade and investment.
Greater certainty could help businesses plan long-term investments, strengthen supply chains and explore opportunities in both markets.
For Indian exporters and companies operating in globally integrated sectors, clearer trade arrangements could support decisions on manufacturing capacity, sourcing and overseas expansion.
Global economy faces pressure on capital
Alongside India’s growth prospects, Dimon highlighted several challenges facing the global economy.
Persistent inflation, high government borrowing, geopolitical tensions and rising investment requirements could increase competition for capital, he said.
He also indicated that interest rates and bond yields could remain higher for longer, as governments and businesses face increasing financing requirements.
AI investment could reshape global demand
The rapid expansion of artificial intelligence is emerging as another major source of investment demand.
Dimon said spending across the hyperscaler ecosystem could rise to around $1 trillion next year, compared with approximately $700 billion this year.
Such investment is expected to generate demand for data centres, semiconductors, computing infrastructure, electricity and other supporting technologies.
However, the longer-term impact of AI could extend beyond investment. Dimon said productivity gains from the technology could eventually reduce costs and create deflationary pressure in some parts of the economy.
India gains a larger role in the global economy
The outlook presented by Dimon comes as India continues to attract attention from global investors and multinational businesses.
The combination of a large domestic market, expanding corporate sector and growing international business links is creating opportunities across financial services, manufacturing, technology and other industries.
JPMorgan’s plans to expand its workforce and research coverage underline the bank’s long-term focus on India and its expectations of a significantly larger role for the country in the global economy over the coming decade.
22, Sep 2026
Scholastic India Announces Publishing and Distribution Partnership with Mattel
Bringing beloved Mattel brands including Barbie®, Hot Wheels®, Monster High® and Masters of the Universe® to young readers across the Indian subcontinent.
NEW DELHI, Sept. 22, 2026 /PRNewswire/ — Scholastic India, an international office of the global children’s publishing, education and media company Scholastic Inc., today announced a publishing and distribution partnership with Mattel, Inc., a leading global play and family entertainment company.
Facilitated by Dream Theatre, Mattel’s Master Licensing Agent in India, the partnership will see Scholastic India develop and distribute a diverse portfolio of books, activity titles, storybooks and early readers, inspired by some of Mattel’s most iconic brands, including Barbie®, Hot Wheels®, Monster High® and Masters of the Universe®, across the Indian subcontinent.
“This partnership marks an important milestone in Mattel’s global publishing strategy,” said Claudia Lucarella, Director, Global Licensing Publishing at Mattel. “By combining Scholastic India’s market-leading publishing expertise with the growing Mattel Press catalogue, we’re creating a publishing platform that brings together globally developed content with locally relevant publishing programmes for readers across the Indian subcontinent. It expands access to our iconic brands while enabling us to scale our publishing business through trusted, best-in-class partners around the world.”
Designed to excite kids to read and spark creativity, the first wave of titles include Hot Wheels Ultimate Handbook 2026, Level 1 Readers Barbie’s Big Move and Hot Wheels: To the Extreme as well as story collections from both brands. Having launched across major retail, online, and educational channels, the program will continue to expand with additional formats and publishing initiatives in the coming years.
“We are thrilled to partner with Mattel. Together, we aim to create meaningful literacy experiences that combine imagination, adventure, creativity, and learning,” said Neeraj Jain, President-Asia, Scholastic Inc. “Bringing Barbie, Hot Wheels, Monster High, and Masters of the Universe to life on the page aligns with our commitment to creating world-class content for young readers across the Indian subcontinent, just as we have done with iconic Scholastic characters from Clifford the Big Red Dog® to The Magic School Bus®.”
The collaboration combines Mattel’s powerful storytelling brands with Scholastic India’s deep understanding of local markets, extensive publishing expertise and unmatched reach across schools, bookstores, e-commerce platforms, and educational channels, all at a time when character-based publishing continues to experience strong growth, driven by increasing demand for trusted brands that encourage reading engagement among children.
“We are delighted to partner with Scholastic India to bring the iconic brands of Barbie, Hot Wheels and Masters of the Universe to life through stories, activity and coloring books that not only engage young fans but also spark creativity and imagination. We believe that licensing’s true power is in delivering meaningful products to fans while driving long-term business value for our partners and this collaboration successfully achieves both,” said Jiggy George, Founder and CEO, Dream Theatre.
About Scholastic India
Scholastic India is the international office of Scholastic Inc, the world’s largest publisher and distributor of children’s book. Through its publishing programs, school partnerships, book fairs, and extensive reach across retail stores and ecommerce, Scholastic India reaches millions of children, parents, teachers, and schools across India, fostering a lifelong love of reading and learning.
About Mattel
Mattel is a leading global play and family entertainment company and owner of one of the most iconic brand portfolios in the world. We engage consumers and fans through our franchise brands, including Barbie®, Hot Wheels®, Fisher-Price®, American Girl®, Thomas & Friends™, UNO®, Masters of the Universe®, Matchbox®, Monster High®, Polly Pocket®, as well as other popular properties that we own or license in partnership with global entertainment companies. Our offerings include toys, content, consumer products, digital and live experiences. Our products are sold in collaboration with the world’s leading retail and ecommerce companies. Since its founding in 1945, Mattel is proud to be a trusted partner in empowering generations to explore the wonder of childhood and reach their full potential.
About Dream Theatre
Dream Theatre leverages the power of licensing to CREATE, REPRESENT and DISTRIBUTE iconic brands in South Asia. These brands are focused on Entertainment, Sports, Lifestyle and Corporate brands businesses. Dream Theatre represents The Pokémon Company, Sanrio, Real Madrid CF, FIFA, Little Singham, Universal Music amongst other iconic brands for licensing and merchandising in India and South Asia.
Media Contact
Sugandha Wahal
Head Marketing, Scholastic India
swahal@scholastic.asia
+91 97180 17285
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22, Sep 2026
Woxsen University Named Among Top 5 Business Schools in Asia-Pacific by Bloomberg Businessweek 2026-27
HYDERABAD, India, Sept. 22, 2026 /PRNewswire/ — In another significant milestone, Woxsen University, Hyderabad has secured the No. 5 spot in the Asia-Pacific region in the Bloomberg Businessweek B-School Rankings 2026–27. This ranking places Woxsen among other leading institutions, highlighting its growing presence on the global business education landscape. Woxsen has moved up one spot from last year, rising from No. 6 to No. 5 in the latest rankings.
The Bloomberg ranking methodology evaluates business schools through four distinct indexes: Learning, Networking, Entrepreneurship, and Compensation. The final ranking is based on inputs provided by students, alumni, and corporate recruiters together with employment and salary statistics. Woxsen University demonstrated specific strength by ranking 4th in the Learning, Networking, and Entrepreneurship categories, while securing the 8th position for Compensation.
In May, Woxsen University’s MBA program has also received a five-year renewal of its EFMD Global accreditation, highlighting its focus on innovation and experiential learning. Woxsen graduates have moved into careers across Consulting, Financial Services, and Manufacturing, with internships and case studies helping them gain practical industry experience. Graduate feedback also highlights the program’s focus on connecting classroom learning with real-world industry needs.
The Bloomberg site quotes one of the MBA graduates on what’s best about the MBA programs at Woxsen University: “The best part of my MBA program was the practical learning through projects, internships, and case studies. It helped me improve my business knowledge, communication skills, and confidence for my career.”
Based in Hyderabad, Woxsen University maintains partnerships with over 175+ global universities. The university’s strategic approach centers on emerging industry requirements, preparing students to navigate shifting market dynamics through high-visibility industry exposure and new-age learning modules.
About Woxsen University:
Woxsen University, located in Hyderabad, is one of the first private universities in the state of Telangana, India. Renowned for its 200-acre state-of-the-art campus and infrastructure, Woxsen University offers new-age, disruptive programs in the fields of Business, Technology, Arts & Design, Architecture, Law, and Liberal Arts & Humanities. Woxsen also houses Asia’s largest Sports Infrastructure, spread over 60 acres. With 175+ Global Partner Universities and a strong industry connect, Woxsen is recognized as one of the top universities for Academic Excellence and Global Edge. Woxsen has also secured the QS Business Masters World Ranking 2025, Rank #8 All India, Top 100 B-Schools by Times B-School Ranking 2026, Rank #5, Asia Pacific, Bloomberg Best B-School, and features in India’s Best B-Schools beyond IIMs by Dalal Street Investment Journal 2025, in 4th consecutive year. Woxsen is ranked as one of the Top Professional Colleges in India by Outlook I-CARE for its undergraduate programs, securing All India Rank 12 among the Top 130 BBA Private Institutes, All India Rank 20 among the Top 160 B. Tech Private Institutes, All India Rank 3 among the Top 25 Design Private Institutes, and All India Rank 3 among the Top 30 B. Arch Private Institutes.
Media Contact:
Ahana Bose
ahana.bose@woxsen.edu.in
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22, Sep 2026
Beyond the Factory Gates: How Samsung Chennai Plant Is Creating Opportunities for Small Businesses in Sriperumbudur
Sep 22: The growth of Sriperumbudur as a major manufacturing hub is creating opportunities well beyond factory floors, with local small businesses benefiting from the expanding workforce, residential communities and demand for everyday goods and services around the industrial corridor.
From tea shops, grocery and hardware stores to drinking-water suppliers, mechanics and local transport operators, entrepreneurs across Sriperumbudur say their businesses have grown as the town has expanded. The presence of major manufacturers, including Samsung’s Chennai plant, has been part of a broader industrial ecosystem that has brought more jobs, people and economic activity to the area.
Samsung established its Chennai manufacturing facility in Sriperumbudur in 2007. In the years since, the area has seen the growth of factories, housing and supporting services, creating a larger customer base for businesses serving the everyday needs of workers and families.
For long-time local entrepreneurs, the transformation is visible in the businesses they run.
Rajan, who has operated a tea shop in Sriperumbudur for nearly three decades, remembers a very different town.
“When I started, the customer base was small and the surrounding area was far less developed. Today, small houses have given way to flats, more companies and agencies have emerged, and a much larger population now lives and works in the area,” Rajan said.
His shop has grown alongside the neighbourhood, with the steady flow of customers reflecting the wider transformation taking place around him.
A Growing Industrial Hub, a Growing Local Economy
The same evolution can be seen in businesses catering to everyday household needs.
Sathish Kumar, who runs an electrical and hardware store, has seen demand increase as more families and workers have settled in the area.
“As more people settled here, the need for everyday products grew,” he said.
For Santhosh, the transformation has changed the scale of his grocery business. What began as a neighbourhood store now serves a much larger community, including employees working at companies nearby. As demand increased, he expanded his inventory and introduced deliveries.
“What began as a small neighbourhood store has become part of the daily rhythm of a much larger community,” he said.
New Needs, New Opportunities
The economic activity surrounding an industrial hub extends well beyond retail.
More people mean greater demand for housing, drinking water, cooking gas, transportation, vehicle repairs and other essential services. Across Sriperumbudur, local entrepreneurs have stepped in to meet these everyday needs.
Mastaan, who operates a drinking-water supply business, has seen demand rise as residential settlements have grown.
“With companies and industrial establishments bringing more housing settlements into the area, supplying water in larger quantities has become an increasingly important part of my business,” he said.
Local LPG distribution companies such as Prem Kumar’s and delivery services have similarly grown with the increasing number of households. Automobile repair stations, including Babu’s workshop, are serving more vehicles as economic and commuting activity increases across the area.
Transportation has also become an important part of Sriperumbudur’s expanding local ecosystem.
Govindaraj, a longtime resident who operates a bus service, has witnessed the town’s changing mobility needs first-hand.
“Today, my bus carries children going to school and people travelling to work. The growth in the area has increased the need for transportation, connecting homes, workplaces and communities,” he said.
Autorickshaw driver Manikandan has experienced a similar shift, with greater industrial and commercial activity bringing more passengers and more movement across Sriperumbudur.
Beyond the Factory Gates
The experiences of these entrepreneurs illustrate how the impact of manufacturing can extend beyond the workplace. A large industrial facility creates employment within its operations, while the people and economic activity around it can also generate demand for a wider network of local businesses.
In Sriperumbudur, that network can be seen every day.
It is the tea shop serving workers in the morning. The grocery store delivering essentials to nearby homes. The mechanic repairing vehicles. The autorickshaw and bus drivers connecting people with workplaces and schools. And the entrepreneurs supplying water, LPG, electrical goods and household products.
Together, they are part of the wider community that has grown around Sriperumbudur’s industrial development.
For entrepreneurs who have lived and worked here for decades, the transformation is visible not just in factories, buildings or infrastructure. It can be seen in the customers walking through their doors, the communities they serve and the businesses they have built over the years.
Nearly two decades after Samsung began manufacturing in Sriperumbudur, its Chennai plant is part of a much larger industrial and community ecosystem.
Beyond the factory gates, local entrepreneurs are building livelihoods around the everyday needs of a growing Sriperumbudur—showing how the expansion of manufacturing can create opportunities that ripple through the communities around it.
22, Sep 2026
MENA Fintech Association Releases Bi-Annual Regulatory Update on ADGM’s Evolving Digital Asset Framework
Abu Dhabi, UAE – 22nd September, 2026 – The MENA Fintech Association has released its latest Bi-Annual Regulatory Update Session report, providing members and the wider financial services industry with insights into the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority’s (FSRA) latest regulatory priorities, market developments, and forthcoming initiatives across digital assets and financial services.
The report follows MFTA’s Policy & Regulations Working Group participation in the FSRA Bi-Annual Regulatory Update Session held on 19 May 2026, led by members of the FSRA Policy & Legal team, Lawrence Paramasivam and Margaret Devaney. The session was moderated by Christine Assali, Co-Chair of the MFTA Policy & Regulations Working Group, and brought together approximately 20 representatives from MFTA member firms across the fintech and digital assets ecosystem.
The report provides an overview of how ADGM’s digital asset ecosystem has evolved from a predominantly institutional market focused on custody and price exposure into a broader and increasingly sophisticated financial ecosystem. It highlights developments across tokenised assets, structured products, staking, lending and borrowing, and the growing infrastructure supporting regulated digital asset businesses.
A key area highlighted in the report is the expansion of the virtual asset ecosystem within ADGM. Regulated entities are now engaging with a broader universe of virtual assets, while the development of independent custodians, brokerage venues, staking providers, security assessors, compliance providers, and transaction monitoring solutions is helping reduce barriers to entry and supporting more sophisticated operating models.
The report also examines the FSRA’s evolving regulatory frameworks around fiat-referenced tokens (FRTs), including the accepted FRT framework and the distinction between virtual assets and payment instruments. It further covers developments relating to staking activities, custody, financial crime controls, technology risk, market integrity, and the FSRA’s supervisory approach.
Beyond digital assets, the update provides insights into a number of emerging regulatory themes, including AI in regulated entities, tokenisation and TradFi convergence, cross-border regulatory coordination and harmonisation, and the potential implications of quantum computing for financial services.
The report reflects MFTA’s continued focus on creating practical channels for regulatory dialogue between policymakers, regulators, financial institutions, fintechs, and digital asset businesses. By translating regulatory discussions into accessible industry intelligence, the Association aims to help its network better understand evolving requirements and prepare for developments shaping the financial services landscape.
Nameer Khan, Chairman of the MENA Fintech Association and Founder of Fils, added:
“Regulatory clarity is fundamental to the sustainable development of financial innovation. Our ongoing engagement with regulators such as the FSRA provides the industry with an important opportunity to understand how regulatory frameworks are evolving alongside new technologies, business models, and market infrastructure. Through initiatives such as these regulatory update sessions, MFTA continues to strengthen the dialogue between regulators and the private sector and support a more informed, responsible, and forward-looking fintech ecosystem across MENA.”
The report also reflects MFTA’s appreciation for the FSRA’s continued engagement and openness to substantive dialogue with industry participants. MFTA thanked Lawrence Paramasivam, Margaret Devaney, Brian Byagaba, Monique Elgin, and John Hermann for their participation and contribution to the session.
As digital assets, tokenisation, AI, and emerging financial technologies continue to develop, MFTA will continue to convene regulatory and industry stakeholders to support greater clarity, knowledge exchange, and policy-aligned innovation across the region.
22, Sep 2026
Onward Technologies renews multi-year Managed Digital Services contract valued at ₹44.46 Crore
MUMBAI, India, Sept. 22, 2026 /PRNewswire/ — Onward Technologies Limited (BSE: 517536) (NSE: ONWARDTEC), announced the renewal of a multi-year Managed Digital Services contract valued at approximately ₹44 Crore (Rupees Forty Four Crore) with one of the world’s leading manufacturers of construction and mining equipment. The contract extends from August 2026 to August 2029 and represents a 72% increase in value over the previous engagement.
The engagement covers Managed Digital Services supporting the customer’s global e-commerce and aftermarket business platforms. This includes application development and enhancement, cloud-native engineering, microservices architecture, API development, DevOps-enabled delivery, testing, deployment and integration services.
Commenting on the development, Mr. Jigar Mehta, Managing Director, Onward Technologies, said:
“This renewal reflects the confidence that our customers place in Onward Technologies’ engineering expertise and delivery capabilities. We remain focused on delivering high-quality digital engineering solutions that create long-term value for our customers.”
About Onward Technologies Limited
Onward Technologies Limited (BSE: 517536) (NSE: ONWARDTEC) is a software outsourcing company specializing in digital and engineering research & development (ER&D) services for global clients. Headquartered in Mumbai, India, the company works closely with customers across North America and Europe, supporting product development and engineering initiatives across sectors such as Industrial Equipment, Off-Highway, Energy, Data Centers, Automotive, Rail Transportation, Healthcare and Life Sciences. Onward Technologies operates through its 12 global offices and India based delivery centers, providing scalable offshore delivery, domain expertise, and integrated engineering solutions to its customers. More information at www.onwardgroup.com
For Further Information, Please Contact:
investors@onwardgroup.com
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