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  • Samsung Receives $600 Million Tax Notice from India for Telecom Imports

    India has accused South Korean tech giant Samsung of tax cheating in the purchase of necessary telecom equipment and has imposed a $601 million tax demand on the company. One of the largest orders in recent years, it may have a significant impact on Samsung’s net profit in India, which was $955 million in 2024. It may be contested in court or before a tax tribunal. The company was warned in 2023 for misclassifying imports to avoid 10% or 20% tariffs on a crucial transmission component used in cell towers. The corporation also imports telecom equipment through its network segment.

    Tug of War Between Samsung and Custom Authorities

    By arguing that the component did not incur taxes and that officials had been aware of its classification method for years, Samsung persuaded India’s tax office to end the investigation. However, customs officials disagreed in a private order dated January 8 that was examined by a media outlet. Samsung “knowingly and intentionally presented false documents before the customs authority for clearance” and “violated” Indian regulations, according to the ruling issued by customs commissioner Sonal Bajaj. Investigators discovered that Samsung violated all industry norms and commercial ethics in order to fulfil their exclusive goal of maximising their profit by cheating the government exchequer, Bajaj continued. Samsung was mandated to pay 44.6 billion rupees ($520 million), which included a 100% penalty and outstanding taxes. It imported and sold these goods to Reliance Jio, the telecom powerhouse owned by billionaire Mukesh Ambani.

    The ruling stated that seven executives in India, including Sung Beam Hong, the vice president of the network business, Dong Won Chu, the chief financial officer, and Sheetal Jain, a general manager for finance, as well as Nikhil Aggarwal, Samsung’s general manager for indirect taxation, face fines of $81 million.

    Samsung’s Response

    In a statement, Samsung stated that it conformed with Indian legislation and that the problem was with the way customs classified the goods. To make sure its rights are completely safeguarded, the business is evaluating its legal options. The event occurs when India tightens its regulations on foreign businesses and their imports. Due to incorrectly classifying automobile parts, Volkswagen is contesting a record demand of $1.4 billion in import back taxes in a legal dispute with New Delhi. The issue has reignited the concerns of foreign investors regarding tax battles, but the German corporation denies any wrongdoing in what it described as a “matter of life and death” for its India operation.

    The Samsung probe started in 2021 when tax officials raided the company’s offices in Gurugram, which is close to New Delhi, and Mumbai, the financial capital, and confiscated records, emails, and a few electronic devices. Later, senior executives were questioned. A radio-frequency circuit housed in a compact outside module, the “Remote Radio Head” is “one of the most important” components of 4G telecom networks, according to tax officials, and its imports are at the heart of the Samsung controversy.

  • Aukera Jewellery Set to Raise $15 Million from Peak XV for Growth in India’s Lab-Grown Diamond Market

    The Bengaluru-based startup Aukera Jewellery, specialising in lab-grown diamond (LGD) jewellery, is in talks to raise $15 million in a Series B funding round led by Peak XV Partners. This funding will help scale operations for the company due to increasing competition in the $2.6 billion LGD market in India.

    Company Overview

    Established in the year 2023, Aukera was co-founded by Lisa Mukhedkar and Kumar Saurabh. It has occupied space as an emerging player in the LGD segment. The range of products includes diverse jewellery items, such as bracelets, earrings, pendants, and necklaces, made of gold and silver. The company believes in its art form and craft and works with integrity to create beautiful and precious fine diamond jewellery.

    Previous Funding and Growth

    Aukera raised INR 26.7 crore (nearly $3.2 million) in a Series A funding round in August 2024, with Fireside Ventures being the lead investor. The funding was also significant because it was the company’s first institutional funding and highlighted growing interest among investors in the lab-grown diamond space. The money was intended for expansion and general corporate purposes, while Fireside Ventures now holds a 19.20% stake in the company.

    Lab-Grown Diamond Market in India

    Consumer demand for sustainable and ethically sourced jewellery is driving significant growth in India. India’s lab-grown diamond market was valued at $2.61 billion in 2023 and is expected to grow at a 13.73% CAGR, reaching $8.31 billion by 2032. This means ample opportunities for companies like Aukera to innovate and gain some market share. The acceptance of lab-grown diamonds, allied to their price positioning below-mined diamonds, has further augured well for this trend.

    Strategic Implications of the Funding

    The expected funding from Peak XV Partners for an amount of $15 million is anticipated to be utilised for scaling the operations of Aukera, enhancing products, and establishing further presence in the market. It is in accordance with the company’s strategy to catch up with the dynamically changing trends of the LGD market and consumers’ preferences. It also includes existing investors like Fireside Ventures in this funding round, proving their faith in the business model and future growth potential of Aukera.

    It is the pursuit of additional funding by Aukera Jewellery, which reiterates the purpose of growth and innovation in the lab-grown diamond industry. The company, supported by important investors, will be able to swim itself in the competing terrain into which it has to grow while also catering to the rising demand for sustainable and ethical luxury. It is true that they are sustainable and interesting in that regard.

    From Pre-seed to Late Stage Funding – Sources of Every Funding Stage
    As the business grows, it requires funding for expansions and research. There are different stages of funding that respond to the different needs of a growing business.
    StartupTalkyKinnary Nensee

  • 23andMe, Genetic Testing Company, Declares Bankruptcy

    After turning down a takeover offer from its departing CEO, the US genetic testing business 23andMe has declared bankruptcy and is searching for a buyer. Late on 23 March, 23andMe, a company that charges less than $200 for a mail-back saliva test that can identify ancestry or specific genetic features linked to health, announced that it had “filed a voluntary petition for reorganisation” with a Missouri state bankruptcy court. Additionally, the Silicon Valley-based company stated that it plans to carry on with business as usual during the selling process. Furthermore, it stated that there would be no modifications made to the way consumer data is stored or protected.

    23andMe Rejected Takeover Offer

    According to the announcement, 23andMe declined a takeover approach from its CEO and co-founder, Anne Wojcicki, who has resigned but will continue to serve on the board of directors. Wojcicki wrote on X that she was upset by the brand’s decision to reject her bid, but she nevertheless offered the business her entire support. Strategically, she claimed, she resigned as CEO in order to “be in the best position to pursue the company as an independent bidder.” Despite the company’s difficulties, Wojcicki, who co-founded 23andMe 19 years ago, highlighted her “unwavering” faith in its future. According to regulatory documents, 23andMe, which claims to have 15 million clients, has suffered a drop in sales in recent months and has also agreed to pay about $37.5 million to settle allegations relating to a 2023 data breach. Due to the challenges, 23andMe said in November that the company was firing around 200 employees, or 40% of its workforce. Additionally, it halted its research initiatives.

    What will Happen to the Genetic Data Collected by the Company?

    Although 23andMe’s privacy regulations state that the genetic data may be sold to other companies, officials, including California Attorney General Rob Bonta, had expressed concerns about what would happen to the data. According to the enterprise, the bankruptcy procedure won’t have an impact on how it handles, preserves, or maintains client data. When 23andMe went public in 2021 at a $3.5 billion valuation through a special-purpose acquisition vehicle (SPAC) led by billionaire Richard Branson, it attracted a lot of interest from investors. Due to a surge in demand for DNA testing kits, its market value reached a peak of about $6 billion later that year. However, since then, demand has decreased, harming 23andMe and its rival AncestryDNA, which is owned by Blackstone. The holiday season usually saw a spike in sales of the consumer kits, but 23andMe has had trouble keeping consumers because they would use the kits just once and find little incentive to buy more.

    The market for ancestry testing kits may be nearing saturation, according to Bernstein analysts. Over the course of five months in 2023, hackers compromised the personal information of around 7 million 23andMe consumers, severely harming the company’s reputation and making its growth issues worse. Customers who were worried about their privacy and the way DNA testing companies handled their data were alarmed by the incident. In a lawsuit pertaining to the breach, 23andMe ultimately consented to a $30 million settlement late last year. As part of what will be a significant restructure, the San Francisco-based company has also terminated the development of all medicines and fired off 200 people.

  • Fractal Analytics Makes a Bid for the First Large Reasoning Model in India

    At a total project cost of INR 118.8 crore, Fractal Analytics, an artificial intelligence startup based in Mumbai, has planned to construct India’s first large reasoning model (LRM). Fractal has proposed to the IndiaAI Mission that the government provide INR 76.6 crore in external finance for the project. A small model (2–7 billion parameters), a medium model (20–32 billion parameters), and a big state-of-the-art model (70 billion parameters) with up to 1 trillion training tokens will all be part of the planned LRM series. Srikanth Velamakanni, the inventor of Fractal, confirmed the news to a media outlet, saying that India should prioritise post-training models that are capable of “thinking and reasoning” as opposed to pre-trained models.

    What are LRMs?

    Large language models (LLMs) that specialise in advanced thinking, problem-solving, and decision-making activities are known as LRMs. Compared to OpenAI’s o1 and o3 reasoning models, Fractal’s proposed model is far larger in terms of size. DeepSeek R1 is now the largest reasoning model in the world, with 671 billion parameters. India might lead the world in AGI (artificial general intelligence) and catch up to nations like the US and China with the help of the planned LRM. The days of pre-training are finished, according to Velamakanni. Building systems that can operate with pre-trained models and complete challenging real-world tasks through improved planning and reasoning is currently the main focus of the race for stronger AI. According to Velamakanni, Fractal wants to incorporate Indian LLMs and create reasoning skills from scratch on open-source LLMs with permissive licences.

    IndiaAI Mission

    During the second round of bidding, which ended on March 15, the IndiaAI Mission received 120 applications to create sovereign AI foundation models. 187 applications have been submitted thus far, with 67 ideas having been received in the first round, as per various media reports. A senior government official told a prominent media outlet that the Ministry of Electronics and Information Technology (MeitY) hopes to approve at least a handful of the applications by the end of the month. In order to develop a world-class reasoning model in STEM, coding, medicine, and agentic systems, Fractal also intends to produce and make available a variety of datasets from top tests in India, including JEE Advanced, NEET-PG, National Olympiads, CAT, GATE, and others. Due to data saturation and performance plateaus, scaling train-time computation presents diminishing returns. Thus, according to the Mumbai-based advanced research firm, increasing inference-time computation is a cost-effective strategy and creates a quicker route to AGI for India.

  • Andy Jassy, CEO, Amazon, Told Town Hall staff: We’re Rethinking Our Promotion Strategy

    At a recent internal town hall meeting, Amazon CEO Andy Jassy highlighted a major change in the company’s promotion strategy, stressing that growing big teams will no longer be the route to promotion at the e-commerce behemoth. Jassy informed staff that Amazon is actively altering its perspective on promotions, emphasising that the best leaders are those that do the most with the least number of resources needed to complete the task, according to a recording of last week’s all-hands meeting that a media house was able to access.

    Changing the Entire Dynamics of Promotion                        

    The CEO clarifies that building a massive workforce and domain is not the path to success at Amazon. Having a large team is not rewarded. Amazon wants to do a lot more things and be resourceful. The CEO’s remarks are in line with Amazon’s recently concluded plan to minimise bureaucracy and management layers by increasing the proportion of individual contributors to managers by 15% throughout its organisations. Every new project shouldn’t require 50 or more people to complete, Jassy told staff members, pointing out that some of Amazon Web Services’ most popular products were first introduced with teams of only a dozen individuals.

    Meritocracy over Bureaucracy

    Meritocracy is more important than bureaucracy, according to the Amazon CEO, who also stated that employee charisma is not a factor. It doesn’t matter if they are adept at sideways or upward management. What the company does for its clients is what counts. It’s what the business rewards. Recognising the fierce competition Amazon faces from the most technologically proficient, most hungry businesses, including startups operating around the clock, Jassy also asked staff to act like owners and move quickly. “What would I do if this were my company?” Jassy asked the employees. By the way, it’s your business. This encompasses our entire organisation,” urging people to stay cognisant of both internal objectives and external advancements.

    Amazon Plans to Eliminate 14,000 Managerial Positions

    By early 2025, Amazon plans to let off 14,000 administrative staff members as part of a comprehensive restructuring strategy meant to boost productivity and cut expenses. It is anticipated that Amazon will save between $2.1 billion and $3.6 billion a year as a result of the decision, which represents a 13% drop in the company’s global management personnel. Following recent layoffs in Amazon’s sustainability and communications departments, this most recent round of layoffs represents a larger change in the company’s corporate structure. The choice is in keeping with CEO Andy Jassy’s continuous attempts to reduce organisational complexity and streamline processes. In an effort to improve operational efficiency and speed up decision-making, Amazon intends to raise the proportion of individual contributors to managers by at least 15% by the first quarter of 2025. Jassy has been outspoken about cutting back on bureaucratic layers that impede operations, according to sources Business Insider reported. This supports his goal of having Amazon operate more like a quick-thinking company.

  • From April 1, India Plans to Eliminate the 6% Google Tax

    India plans to eliminate the Google tax, a 6% equalisation levy levied on online advertising services provided by Google and Meta, starting on April 1. The action is probably intended to appease US President Donald Trump, who has threatened to impose retaliatory tariffs on nations that, starting on April 2, impose digital taxes on US internet businesses. Nirmala Sitharaman, the finance minister, introduced 59 amendments to the Finance Bill in the Parliament on Monday, including the clause. In order to encourage them to migrate to India, the other major revision suggests eliminating the phrase “indirectly” from a clause controlling offshore funds. In connection with search and seizure evaluation, a new word, “total undisclosed income”, is introduced in another modification.

    India is Strengthening its Partnership With US

    The above development makes it clear that the sole purpose of a search and seizure procedure is to tax unreported income. To allow the Income Tax Department to make modifications while processing a return, a new subclause is being proposed. The planned change to eliminate the equalisation levy follows trade negotiations between the US and India, with New Delhi seeking to avoid the impending announcement of reciprocal duties on April 2. In addition, the government has suggested eliminating the income tax benefits that these businesses currently enjoy in place of the equalisation levy. To please Trump, some other nations, like the UK, are also thinking about eliminating the internet tax.

    Experts believe that the government of India (GoI) made a wise decision in eliminating the equalisation charge because the revenue was not very high, and, at the same time, it was raising concerns for the US government by giving the impression that there were “non-tariff” tax obstacles. They added that India might use this action as leverage in talks with the US on trade tariffs. In addition to providing taxpayers with predictability, the ruling allays partner countries’ worries about the levy’s initial unilaterality, including those of the US.

    Amendments in Offshore Funds

    Additionally, the government has suggested changes to offshore fund managers’ Section 9A. According to the Finance Bill, Indian citizens could not “directly or indirectly” participate in or invest in more than 5% of the corpus. A media report on February 10 stated that the phrase “indirectly” appeared to be impeding foreign fund managers’ desire to move to India. Many trade analysts feel that the proposed amendments to the Finance Bill, 2025, are largely clarifying in nature, in line with the government’s mission to address doubts and issues being faced by the taxpayers and businesses at large.

  • Sanjeev Nanda Highlights The Role of Art and Design in Elevating Guest Experiences

    Hotels today are more than just places to stay, they are immersive experiences that shape guest perceptions through aesthetics. From grand lobbies to carefully curated artwork, the design of a hotel influences emotions, relaxation, and overall satisfaction. The strategic use of art, architecture, and interior design helps hotels create a distinct identity, setting them apart from competitors.

    Sanjeev Nanda, a hospitality leader known for his expertise in luxury hotel experiences, emphasizes that design is not just about beauty but also about creating memorable and engaging atmospheres. “A well-designed hotel tells a story, evokes emotions, and ensures guests leave with lasting impressions,” says Nanda.

    The Impact of Art on Hotel Branding

    Art is a powerful tool that enhances hotel branding, making spaces visually appealing and unique. Carefully curated art collections, murals, and sculptures contribute to a hotel’s identity, giving it a personality that resonates with guests. A study from the Cornell University School of Hotel Administration found that hotels with unique art collections are often seen as more creative and prestigious.

    Many hotels collaborate with local artists to showcase cultural authenticity, ensuring that their aesthetic reflects the location’s history and heritage. Some luxury establishments even host rotating art exhibitions to offer fresh experiences to returning guests. This approach not only enriches the ambiance but also builds a stronger connection with visitors.

    Nanda states, “Art in hospitality is more than decoration; it is an experience that tells a story and connects guests to the space. By integrating art into branding, hotels can create an emotional link with their visitors, making them feel part of something special.” 

    How Architecture and Interior Design Shape Guest Experience

    A well-designed guest experience is crucial for building customer loyalty, boosting revenue, and enhancing a business’s reputation. A positive experience encourages repeat visits, increases spending on additional services, and leads to favourable online reviews, which attract new customers. In a competitive market, exceptional guest experiences help businesses stand out and create lasting impressions. The structure and layout of a hotel play a vital role in shaping guest perceptions, with elements like lighting, spatial design, and furniture placement influencing mood and comfort. Open, airy designs evoke a sense of freedom, while enclosed spaces offer intimacy and exclusivity. Choices between minimalism and opulence also shape guest expectations, some prefer sleek, modern aesthetics, while others appreciate intricate and grand interiors.

    Luxury hotels often invest in custom furniture, statement chandeliers, and grand entrances to create a striking first impression. “The first few moments a guest spends in a hotel lobby set the tone for their entire stay,” says Sanjeev Nanda. “Every design choice, from the height of ceilings to the material of the floors, plays a role in defining that experience.”

    The Business Benefits of Aesthetic Investments

    Investing in art and design is not just about aesthetics; it has tangible business benefits. Visually stunning hotels naturally attract social media attention, leading to organic marketing and word-of-mouth promotion.

    A unique architectural style or carefully designed interiors can also justify premium pricing, as guests are willing to pay more for an aesthetically enriching experience. Moreover, hotels that focus on strong visual branding see higher guest retention rates, as visitors are more likely to return to spaces, they find beautiful and comfortable. In today’s competitive hospitality industry, a hotel that stands out visually will always have a competitive edge and design is an investment with long-term returns.

    Art, architecture, and design are fundamental to shaping a hotel’s character and guest experience. Beyond decoration, they serve as strategic assets that enhance branding, attract guests, and boost revenue. As Sanjeev Nanda aptly puts it, “Design is not an afterthought; it is the heart of a hotel’s identity. The right aesthetic choices can turn a simple stay into an unforgettable journey.” Hoteliers looking to remain competitive should rethink their approach to design, ensuring their spaces are not only functional but also inspiring and emotionally engaging.

    Career Options in Design Industry in India
    The design industry in India is growing at the rate of 25%. Here are some of career options if you want to pursue Design Industry.
    StartupTalkyPV Vyshnavi

  • Apna Mart Secures INR 214.5 Crore in Funding Led by Fundamentum and Accel

    Apna Mart, an omnichannel grocery and FMCG retail chain has secured INR 214.5 crore (around $25 million) in a new funding round. The investment includes a mix of equity and debt, with Fundamentum Partnership Fund and Accel leading the round. Existing investors also participated.

    According to regulatory filings, the company raised INR 176.5 crore ($20.5 million) by issuing 6,342 Series B compulsory convertible preference shares, priced at INR 2,78,402 each. An additional INR 38 crore ($4.5 million) was secured through 3,800 debentures.

    Fundamentum invested INR 84 crore, while Accel contributed INR 60.88 crore. Other investors, including Peak XV Partners (INR 17.4 crore), Sparrow Capital (INR 4 crore), and funds such as 2 AM Ventures, Disruptors Capital, and Alteria, also took part.

    Following this round, Accel India now holds a 20.91% stake in Apna Mart, making it the company’s largest external shareholder. Peak XV Partners and Fundamentum own 13.06% and 11.39%, respectively. Titan Capital remains one of the early backers.

    Expanding Footprint with Franchise Model

    Founded by Abhishek Singh and Chetan Garg, Apna Mart operates through a hybrid model of quick commerce and physical retail. The company promises grocery and FMCG deliveries within 15 minutes while also expanding its network of franchise-run stores.

    Currently, Apna Mart has a presence in 14 cities, including Ranchi, Hazaribagh, Bilaspur, and more. The franchise approach has helped the company scale efficiently while keeping costs in check.

    Growth, Losses, and Future Plans

    For the fiscal year ending March 2024, Apna Mart’s operating revenue increased 85.6% year-on-year, reaching INR 59.6 crore in FY24 from INR 32 crore in FY23. However, its losses also widened by 51.4%, standing at INR 33 crore in FY24 from INR 21.8 crore in FY23.

    The recently raised capital will be used for business expansion and general operations. As competition in quick commerce heats up with players like Blinkit, Swiggy Instamart, and Zepto, Apna Mart aims to strengthen its position in the market.

    About Apna Mart

    Apna Mart is a grocery and FMCG retail chain in India that operates both online and through physical stores. Founded in 2021 by Abhishek Singh and Chetan Garg, the company focuses on serving Tier II and III cities. It offers 15-minute grocery delivery through its online platform while also running franchise stores to reach more customers. This mix of online and offline shopping helps Apna Mart serve smaller towns efficiently and build trust in local communities.

  • Samsung’s New Smart Glasses Challenge Apple and Meta

    According to reports, Samsung is developing a new line of extended reality (XR) smart glasses. Similar to the recently disclosed Project Moohan headgear, Google’s Android XR platform is anticipated to power these smart glasses. As the XR headset is anticipated to be more complicated to use in contrast, Samsung wants to provide more comfort and versatility with the smart glasses, according to a report by Android Authority. Samsung may introduce both the Project Moohan headset and the much-anticipated XR smart glasses during a joint launch event later this year, as per the various media reports.

    Codename “Haean”

    It has been revealed that Samsung has been working on their XR smart glasses under the codename “Haean.” The company’s primary goal seems to be making the device as comfortable as possible by customising it to match various face shapes, which will make it easier for a larger audience to utilise. The Qualcomm Snapdragon XR2 Plus Gen 2 CPU, which is probably also powering the Project Moohan headgear, is slated to power the upcoming Samsung smart glasses. According to the media citings, the glasses might possibly have a 155mAh battery and a built-in 12MP camera. Furthermore, the gadget might have several sensors to monitor user movements, which could allow for gesture control and fitness tracking features.

    Special Features to Look Forward to

    AI integration is anticipated to be a major feature of the Haean glasses, with Samsung most likely depending on Google’s Gemini assistant, which is comparable to Meta’s AI-powered Ray-Ban smart glasses. According to reports, Samsung is getting ready to release a first batch of 500,000 handsets at the upcoming Unpacked event in July. Although Google has made references to its own Gemini-powered smart glasses, no formal release date has been disclosed. Samsung’s foray into the smart glasses industry may have a big impact on how Android-powered XR devices develop in the future. Whether or not the device will have a display is still unknown. However, Google said that the Android XR platform will enable glasses without screens when it was unveiled. It is anticipated that Gemini AI will be essential to system navigation if Samsung’s smart glasses adopt this strategy. Users would get help from the AI assistant with things like directions, conversation translation, and smartphone message summarisation.

    One of the Main Obstacles is Affordability

    Although smart glasses have a lot of potential, there are obstacles to their widespread use, chief among them being cost. Historically, many firms, particularly smaller ones, have been unable to afford smart glasses due to high production costs. This obstacle is acknowledged by many experts, who stress that in order to be widely adopted, smart glasses must be “light enough” to fit in the pocket. Industry giants like Intel are actively working on creating affordable solutions to alleviate the affordability issue. Over time, price reductions due to mass production, economies of scale, and technological developments could make smart glasses a feasible choice for a wider range of organisations.

  • M&M in Negotiations to Purchase SML Isuzu’s Whole Promoter Stake

    A media outlet reported on March 24 that Mahindra & Mahindra (M&M) is in negotiations to acquire the entire value of Sumitomo Corp’s stake in SML Isuzu, a manufacturer of heavy vehicles in Japan. The agreement will probably aid M&M’s entry into the truck and bus market. M&M is considering valuing SML Isuzu at INR 1,400–1,500 per share. The M&M board will probably get together this week to discuss the suggestion. M&M informed the media that it would prefer not to address the rumours. According to exchange records, promoter Sumitomo Corporation owned 43.96% of SML Isuzu as of December 2024. 15% of SML Isuzu is owned by Japan’s Isuzu, which produces SUVs and pickup trucks through a different company.

    Financial Dynamics of SML Isuzu

    SML Isuzu’s net profit decreased 80.22% to INR 0.53 crore in the December 2024 quarter from INR 2.68 crore in the December 2023 quarter. Compared to the previous quarter, which ended in December 2023, when sales were INR 386.13 crore, sales in the quarter ending in December 2024 fell 14.07% to INR 331.80 crore. According to a June 2023 article by a prominent media group, SML Isuzu’s Japanese promoters were seeking to abandon their activities in India, and JBM Auto was one of the leading candidates to acquire the company.

    Revamping the Board of SML Isuzu

    In the meantime, SML Isuzu notified the stock exchanges that the company’s board of directors, in its meeting on March 21, 2025, accepted the resignation of managing director and CEO Junya Yamanishi, with effect from April 16, 2025. The Ministry of Corporate Affairs (MCA) of the Government of India must issue a Director Identification Number (DIN) before the board can ratify Yasushi Nishikawa’s appointment as an additional director, which will take effect on April 17, 2025. According to the corporation, the Board has also authorised his nomination as managing director and CEO, effective April 17, 2025, for a five-year term, contingent upon the shareholders’ and central government’s consent, if necessary. SML Isuzu predicts that infrastructural development, changing industry dynamics, and macroeconomic expansion will fuel the need for trucks.

    There will likely be a large demand for commercial vehicles as a result of the government’s emphasis on infrastructure development, the Bharatmala project, the Smart Cities Mission, and designated freight corridors. It is anticipated that rising investments in the nation’s transit system would fuel an increase in the demand for buses overall in the upcoming years. The federal government and state governments are eager to improve the transportation infrastructure. According to the corporation, it is considering a favourable chance in special application vehicles, including water tankers, refrigerated vans, dog vans, and specialised rubbish collection trucks. At the moment, Bangladesh, Nepal, and Bhutan, the company’s neighbours, account for the majority of its export volumes.