Hyundai Motor aims to develop India into a ‘strategic export hub’

IANS File Photo

Seoul, (IANS): The head of South Korea's automotive giant Hyundai Motor Group has visited three key overseas markets -- China, the United States and India -- at the start of the new year as part of the group's global expansion strategy, the company said on Wednesday.

Executive Chair Euisun Chung's visits were aimed at exploring business opportunities in major economies that are expected to underpin the group's future growth, while also seeking partnerships with leading global companies, the group said in a press release.

During his visit to India, Chung toured three production facilities -- Hyundai Motor's Chennai and Pune plants and Kia's Anantapur plant -- to review production operations and sales strategies.

Hyundai Motor Group ranks second in the Indian automotive market with a market share of about 20 percent. The three plants have a combined annual output capacity of 1.5 million vehicles.

The group aims to develop India into a "strategic export hub" following the listing of Hyundai Motor India on the Indian stock market in 2024 in what was the largest initial public offering (IPO) in the country's history.

"Hyundai has been able to grow over the past three decades thanks to the support of the Indian people," Chung was quoted as saying. "We must pursue a home-brand strategy for the next 30 years so that Hyundai can become a truly national company in India."

During his 10-day trip through Tuesday, Chung attended the Korea-China Business Forum held in conjunction with President Lee Jae Myung's state visit to China, and the world's largest IT and electronics exhibition, CES 2026, in Las Vegas, and toured the group's production facilities in India, reports Yonhap news agency.

In Beijing, Chung exchanged views with Zeng Yuqun, chairman of Contemporary Amperex Technology Co. (CATL), the world's largest battery maker, on cooperation in the electric vehicle (EV) battery sector. He also met with Hou Qijun, chairman of China Petroleum & Chemical Corp. (Sinopec), to discuss potential collaboration in hydrogen-related businesses.

To boost sales in China, Hyundai Motor Co. launched its first China-dedicated EV model, the Elexio, in October and plans to expand its EV lineup in the world's largest automobile market to six models by 2030. Its smaller affiliate, Kia Corp., plans to strengthen its Chinese EV lineup by introducing at least one new model each year through 2027, following the launch of the EV6 in 2023.

At CES 2026, Chung held meetings with executives from global big-tech companies, including Nvidia Corp. CEO Jensen Huang and Qualcomm Inc. Chief Operating Officer (COO) Akash Palkhiwala.The group unveiled its artificial intelligence (AI) and robotics strategy at the exhibition, with the presentation of Atlas, a humanoid robot developed by its U.S. subsidiary Boston Dynamics, drawing significant attention. Hyundai Motor aims to develop India into a ‘strategic export hub’ | MorungExpress | morungexpress.com

Read More........ → February 18, 2026

Domestic travel demand drives structural growth in India's hospitality market

IANS Photo

New Delhi, (IANS): The Indian hospitality market is exhibiting higher structural growth driven primarily by domestic travel demand, which makes the sector less exposed to global shocks than in the pre-Covid-19 period, a report said on Wednesday.

The report from ICRA said industry revenues are expected to grow in FY26 despite a high FY25 base, supported by leisure travel, meetings, incentives, conferences and events, weddings, and business travel.

Pan‑India premium hotel occupancy rate is anticipated to hold at 72-74 per cent in FY26, with average room rates for premium hotels projected to rise to Rs 8,200-8,500 in FY26.

This follows room rates of Rs 8,000-8,200 in FY25, the report said.

Despite subdued foreign tourist arrivals, the overall demand scenario remains unaffected, with demand drivers having broadened significantly, supporting the sector’s next phase of expansion.

The ratings agency forecasted the upcoming Union Budget to continue its focus on measures supporting tourism and infrastructure investments, ease of doing business, and enhanced connectivity and accessibility.

With supply growth continuing to trail demand, policy frameworks enabling favourable financing terms are expected to support inventory addition and sustain the next phase of hotel expansion in India.

Supply growth continues to trail demand expansion, boosting pricing power and pushing revenue per available room to record highs, the report said. This persistent demand-supply imbalance has strengthened sector profitability and supports calibrated capacity addition across markets.

“The market can support multiple formats and price points, pushing hotel companies to diversify beyond the traditional upscale business hotel,” said Sruthi Thomas, Vice President & Sector Head, Corporate Ratings, ICRA Limited.

“There is an increasing preference towards asset‑light operating models, including management contracts and franchise models, which generate fee‑based, high‑margin income, require minimal capital, and improve return on capital employed and free cash flows,” she said.

The ratings agency predicted sustained demand and pricing power to support revenue growth for the premium hotel segment in H2 FY2026 and FY2027.The room occupancy and average room rates are estimated at 69-71 per cent and Rs. 8,100-8,200, respectively, in nine months of FY26, the report said. Domestic travel demand drives structural growth in India's hospitality market | MorungExpress | morungexpress.com

Read More........ → February 02, 2026

Paytm wants Sri Lanka to build “world’s most seamless travel corridor” for Indian tourists

Paytm CEO for Travel and COO for Consumer Payments Vikash Jalan – Pic by Ruwan Walpola

• Says modern tourism depends on seamless, invisible payments and destinations become more attractive when travellers do not worry about currency or acceptance
• Notes with UPI acceptance in Sri Lanka, Indian arrivals boosted; opines country could attract 1 m Indians annually if payments become fully frictionless
• Stresses digital payments must reach micro-merchants and SMEs, enabling homestays, guides, tuk-tuk drivers and fishermen to earn instantly, become visible to all
• Suggests creating a national fintech-tourism task force to build a unified digital journey for travellers, make India-Sri Lanka travel corridor most seamless in the region

By Charumini de Silva: Paytm CEO for Travel and COO for Consumer Payments Vikash Jalan on Wednesday urged Sri Lanka to position itself as the “most frictionless, trusted, and convenient overseas destination” for Indian travellers, insisting that digital payments and fintech infrastructure will be just as critical as flights, hotels, and marketing in shaping the country’s next phase of tourism growth.

Speaking at the India-Sri Lanka Tourism Connect forum on the theme “Role of Fintech in Tourism Experiences,” Jalan said modern tourism is increasingly defined by action and ease, not advertising, and that seamless payment experiences are now fundamental to destination choice, visitor satisfaction, and spending levels.

“A traveller shouldn’t have to worry about currency, conversion, or acceptance. When payments disappear into the background, destinations become instantly more attractive,” he pointed out.

He explained that payments are often invisible when they work smoothly, but “painfully visible” when they don’t; affecting not only the individual tourist, but also a destination’s revenue, reputation, and repeat visitation.

A frictionless payment layer, he said, creates a self-reinforcing cycle; destination choices expand, travellers increase, revenues rise, and experience quality improves, helping that destination win in a highly competitive regional market.

Jalan stressed that India’s payments ecosystem is now among the most advanced in the world, driven by Unified Payments Interface (UPI), which processed 85 billion transactions last year, accounting for over 83% of all non-cash retail payments.

“India has gone from ‘cash-first to mobile-first in less than a decade’ and Sri Lanka’s rapid progress in digital payments places it on a parallel track,” he said.

He said over 67% of Sri Lanka’s merchant transactions now run through digital channels, and with UPI acceptance enabled in Sri Lanka in 2024, Indian travellers can simply ‘scan and pay’ as they would at home.

“This changes everything,” Jalan said, pointing to the sharp rise in Indian arrivals.

He noted that Sri Lanka saw 430,000 Indian visitors in 2024, up from 300,000 the previous year, and has already welcomed over 450,000 Indians in the first 10 months of 2025. “If Sri Lanka reaches its projected 3 million annual tourist arrivals, at least 1 million could come from India alone, especially if Sri Lanka becomes a fully frictionless UPI-enabled destination,” he added.

Jalan described the opportunity as transformational, particularly with the next wave of outbound Indian travellers emerging from tier-2 and tier-3 cities. These new travellers are value-conscious, but digitally confident.

“They trust Indian apps, Indian payment systems and Indian digital journeys. If Sri Lanka gets the experience right, it becomes closer than Bangkok, more convenient than Dubai and more interesting than many Southeast Asian markets,” he said.

To unlock this potential, Jalan argued that payment acceptance must be universal, extending beyond hotels and big retailers to micro-merchants, homestays, guides, tuk-tuk drivers, craft sellers, fishermen and local eateries.

He outlined how fintech can bring thousands of Sri Lankan small and medium enterprises (SMEs) into the formal digital economy, making them discoverable and bookable, while enabling transparent pricing and instant settlements.

“Imagine a fisherman in Jaffna getting paid instantly through QR, or a small homestay in Yala earning digitally from Indian travellers. When you solve trust and transparency, participation increases and prices stabilise naturally,” he opined.

He added that digital payments generate valuable insights to personalise tourism offerings whether for families heading to beaches, couples preferring hill country, or younger groups seeking nightlife and adventure. “A mature payments ecosystem allows Sri Lanka to curate experiences at scale,” he said.

Jalan proposed developing a national fintech–tourism task force bringing together Government, tourism authorities, banks, fintech companies and travel platforms to address issues such as cross-border settlements, QR standardisation, and merchant on-boarding and regulatory clarity.

He said this could evolve into a unified marketplace allowing travellers to discover, book, pay and experience everything in one digital journey.

Jalan said fintech is no longer an add-on, but the invisible backbone of modern tourism. “Imagine a traveller who plans on Paytm, lands in Colombo, discovers local gems, moves around easily, pays instantly, books the next experience on the go and returns home already planning the next visit. That is what happens when payments and travel work together,” he said.

“India has fintech. Sri Lanka has the most charming destination. It’s time to connect them and build the world’s most seamless travel corridor,” he added. Paytm wants Sri Lanka to build “world’s most seamless travel corridor” for Indian tourists | Daily FT

Read More........ → December 20, 2025