Toyota Motor plans to build three new assembly plants in Maharashtra, India, targeting annual output of one million vehicles by the 2030s. The investment is estimated at 300 billion yen, making it one of the company's largest manufacturing bets outside Japan. The move would roughly triple Toyota's current production capacity in India. Maharashtra, already home to major auto manufacturing clusters, is the chosen base for this scale-up. India's passenger vehicle market has been growing steadily, and global automakers are racing to lock in capacity ahead of expected demand surges later this decade. For Toyota, higher local output reduces dependence on imports, cuts costs, and positions the company to compete more aggressively on price in a market where value-conscious buyers dominate. The key number to watch is whether Toyota hits the one-million-unit target on schedule, as that would make India one of its top global production hubs. Progress on land acquisition, supplier ecosystem development, and state-level clearances will determine how quickly these plants come online.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
