This strategic partnership between AM General and KSSL addresses the requirement of modern armies of the world in an evolving combat scenario, equipping them with compact, robust, lightweight, ruggedized, mobile, all-weather, all-terrain Next-Gen Mounted Artillery gun platforms, with a distinct competitive edge. There are numerous opportunities globally, and the partnership is intended to support broader allied distribution, positioning the platform as a scalable, exportable artillery solution for partner nations seeking modern, mobile, and survivable 155mm fires capability.

Leveraging this strategic partnership, AM General has also offered a proposal to participate in the U.S Army Mobile Tactical Cannon (MTC) program. The proposal to the U.S. Government includes the development and delivery of a 155mm MTC solution based on the mature, combat-relevant architecture of KSSL’s Mounted Artillery Gun platform, with delivery planned in 2027 upon its down-selection.

The MArG system delivers class-leading strategic transportability and tactical mobility through the combination of a purpose-built powerpack and suspension, and a lighter gross vehicle weight rating. It’s a 52–caliber 155mm Cannon is combined with the patented Soft Recoil Technology (SRT) Recoil Mitigation system, an automated load-assist, and an advanced all-weather fire control suite providing indirect and direct fire capabilities. The system fires a standard high-explosive projectile over 40 Kilometers and carries over 20 projectiles and propellant charges on board. The MARG’s SRT system absorbs significantly more recoil force than traditional artillery systems, and this allows for a lighter vehicle, lighter turret, and less shock on the entire weapons system over its life.

Amit Kalyani, Vice Chairman and Joint Managing Director, Bharat Forge Ltd, the parent company of KSSL, shared, “Our partnership with AM General is underscored by trust in our advanced artillery capabilities, and confidence in our commitment to delivering leading-edge and combat-proven solutions that meet modern warfare requirements.”

John Chadbourne, AM General President and CEO, said, “Working with KSSL signifies our mutual commitment to support our allies and, ultimately, the Warfighter. By integrating the patented soft recoil technology into their state-of-the-art and mature platforms, we will be delivering truly groundbreaking capabilities that can provide an advantage on the evolving battlefield.”

At KSSL, we take pride in building designed and made in India, globally benchmarked defence platforms, driven by the purpose of delivering technologically advanced, strategic defence capabilities for India and the world.

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Marking its 20th edition, the forum serves as a flagship platform for high-level dialogue, convening policymakers, regulators, development practitioners, academics, and industry leaders to advance innovation and development in Islamic finance. This year’s forum will focus on strengthening regional integration and unlocking sustainable growth across IsDB member countries through Islamic finance solutions.

The forum will examine how Islamic finance can help address structural development challenges, including “development traps” that constrain inclusive growth and resilience. It will also highlight innovative Islamic social finance mechanisms, particularly Awqaf Free Zones, as tools for mobilizing sustainable resources to support food and energy security.

Key highlights of the forum include keynote speeches, launch of a new report on the prospects of Islamic Finance in Azerbaijan alongside other flagship publications, announcement of a memorandum of understanding between IsDBI and Labuan Financial Services Authority, distinguished panel discussion sessions, and unveiling of top achievers in the Applied AI in Islamic Finance Competency Challenge.

H.E. Taleh Kazimov, Governor of the Central Bank of the Republic of Azerbaijan, will deliver the first keynote speech, followed by Eng. Adeeb Yousuf Al Aama, Chief Executive Officer of ITFC, whose speech will be on behalf of the IsDB Group. Dr. Sami Al-Suwailem, Acting Director General of IsDBI, will deliver the welcome remarks.

The first panel session will explore how Islamic finance can help countries overcome development barriers and achieve sustainable economic transformation. The panelists include Mr. Shahin Aydin Mahmudzade, Executive Director, Central Bank of Azerbaijan; Mr. Adnan Zaylani, Deputy Governor, Bank Negara Malaysia; Ms. Mihoko Kumamoto, Director, Division for Prosperity, UNITAR; Dr. Bambang Brodjonegoro, Dean, Asian Development Bank Institute; and Dr. Areef Suleman, Chief Economist, IsDB Group. The session will be moderated by Mr. Mustafa Adil, Head of Islamic Finance, London Stock Exchange Group.

The second panel session will examine innovative approaches to mobilizing Islamic social finance, particularly through Awqaf Free Zones, to address global food and energy challenges. The speakers include Mr. Valeh Alasgarov, Chairman of the Board, AFEZ Authority, Azerbaijan; Dr. Mansur Muhtar, Chairman of the Board, Bank of Industry, Nigeria; Professor Emeritus Dato’ Dr. Azmi Omar, President & CEO, INCEIF University; and Mr. Orkhan Vidadi oglu Mammadov, Chairman, Small and Medium Business Development Agency of Azerbaijan (KOBİA). The session will be moderated by Mr. Yahya Rehman, Associate Manager, IsDBI.

The forum is expected to generate actionable recommendations, strengthen partnerships, promote stakeholder collaboration, and advance innovative, AI-enabled tools to support the growth of Islamic finance globally.

More information about the forum is available on the IsDBI website here.

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India’s GCC ecosystem has evolved beyond cost and operational efficiency centres into strategic hubs driving innovation, digital transformation, advanced engineering, research, analytics, and enterprise-wide solutions. As this shift accelerates, Pune is emerging as the next chapter of India’s GCC story—defined by clear purpose and momentum. The city’s strong industrial legacy, deep engineering talent, vibrant technology ecosystem, robust academic base, and high quality of life make it an increasingly attractive GCC destination.

The report, developed in collaboration with AMCHAM and research partner UnearthIQ, underscores the factors that make Pune an increasingly attractive destination for global enterprises. These include its deep, functionally skilled talent pool, strong tech ecosystem, strong presence of U.S.-headquartered organisations, supportive state policies, and rapidly expanding digital and infrastructure capabilities. Today, Pune is home to 500+ GCCs across sectors, with organisations from over 30 countries leveraging the city’s strengths to drive global innovation, operational excellence, and enterprise-wide transformation.

Pune’s growth is strongly driven by U.S.-headquartered companies, which continue to expand their footprint and establish future-ready centres with end-to-end ownership, innovation mandates, and global impact.

Supportive policy measures such as the Government of Maharashtra’s GCC Policy 2025, alongside investments in AI, digital infrastructure, talent, and innovation ecosystems, are set to further accelerate this momentum. Increasingly, successful GCCs are those that evolve beyond execution to become capability centres—building for future needs as much as present demands—an environment Pune is well positioned to support.

Shalini Pillay, Partner and India Leader, Global Capability Centres, KPMG in India, notes, “As India’s Global Capability Centre story enters its most consequential chapter, Pune is emerging as a compelling destination for organisations looking to establish and scale future-ready capability centres. With its strong ecosystem spanning talent, infrastructure, and innovation, Pune offers a unique opportunity to go beyond execution and build centres that deliver enterprise-wide value and transformation for global organisations.”

Key insights from the report include:

• Pune is home to 500+ GCCs, with firms from 30+ countries across 20+ industries
• The city accounts for ~14% of India’s GCC units and ~9% of total GCC talent
• Pune’s GCC ecosystem is growing at ~9% CAGR, with strong expansion expected through 2030
• 130+ GCCs have entered or expanded in Pune since 2024, signalling accelerating momentum
• U.S.-headquartered firms anchor ~55% of Pune’s GCC base
• Pune produces ~200,000 graduates annually, including ~90,000 STEM graduates
• Maharashtra’s GCC Policy 2025 aims to establish 400 new GCCs and create 4 lakh high-skilled jobs
• Future growth will depend on addressing infrastructure, connectivity, and talent challenges while leveraging opportunities such as AI-first mandates, policy support, and the Mumbai–Pune business corridor
• Pune can strengthen its position by capitalising on overflow from saturated Tier-I cities and scaling AI-led innovation hubs

Together, these insights position Pune as a critical node in India’s next phase of GCC-led growth. As global organisations increasingly prioritise innovation, AI, and value creation, Pune offers a compelling platform to build scalable, innovation-driven, and future-ready global capability centres.

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The firm will deploy the majority of this capital toward pursuing international acquisitions to expand into new markets, including entry into new jurisdictions such as Australia and the addition of firms that strengthen its service capabilities. Alongside this, organic growth will remain an equally important driver, with continued investment in talent, leadership development, and training to build skills across its global teams. A portion of the investment will also support KNAV’s ongoing automation and AI deployment across its service lines.

KNAV is currently in Phase 1 of its AI deployment, focused on embedding AI into core workflows to improve quality, efficiency, and decision-making, with further expansion planned over time.

This financing builds on KNAV’s initial funding from NKSquared in September 2024. Since then, the firm has grown its global revenues from $26 million in 2023 to $50 million in 2025 and expanded its presence across international markets, including the Netherlands, the United Kingdom, and, most recently, in the UAE.

Headquartered in Atlanta, KNAV operates across seven countries, serving more than 1,500 enterprises, primarily multinational. The firm has built a global delivery model that combines local expertise with cross-border execution, supporting clients seamlessly across markets.

“NKSquared’s continued support reinforces our long-term vision of building a truly global accounting and advisory firm,” said Nishta Sharma, CEO, KNAV Advisory Inc. “This investment allows us to pursue international acquisitions to enter new markets, while continuing to invest in our people and in building capabilities across the firm.”

“Our follow-on investment reflects our conviction in KNAV’s leadership, its consistent execution, and its ability to grow with both agility and discipline. That’s a rare combination, and it gives us real confidence in their vision to build a truly global professional services firm, proudly originating from Indian roots,” said Nikhil Kamath, investor and entrepreneur at NKSquared.

KNAV’s growth strategy continues to focus on a dual approach of international acquisitions and organic expansion, deepening client relationships, entering new markets, and strengthening capabilities across assurance, tax, and advisory.

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Founded in 1966 by the visionary Late Mr. C. V. Khandelwal, the firm took root when Pune was still considered a pensioner’s paradise. Six decades on, it stands as a testament to his foresight, a thriving institution headquartered in Pune and with network offices in Aurangabad, Indore, and Bagalkot.

Commenting on this milestone, Ashish Khandelwal said, “Some of our client relationships are for almost 6 decades. The trust that our clients repose in SKJ is what drives us to achieve excellence.”

“We have kept SKJ relevant by reinventing ourselves constantly. We have combined AI with our experience to improve client service. Our 3rd generation is ready to step in, and we are also increasing our global footprint”, added Neelesh Khandelwal.

The firm today employs over 200 professionals and has been the training ground for more than 1,000 Chartered Accountants who completed their articleship within its walls. Many of these students came from remote rural areas of India, and some of them are now CFO’s of big corporations. Leadership of SKJ is now shared by the second generation — Partners Ashish Khandelwal and Neelesh Khandelwal — alongside Nishant Mundada, a former intern turned Partner, embodying the firm’s tradition of nurturing talent from within.

With the third generation already qualified and ready — including daughters of Ashish and Neelesh who are practising CAs — the firm’s future is firmly in capable hands.

Looking ahead, Shah Khandelwal Jain and Associates is set to launch offshore operations in the Middle East in June 2026 and has embraced Artificial Intelligence to drive operational excellence — staying true to its founder’s forward-thinking spirit.

Built on decades of principles, values, and client-first service, the firm enters its seventh decade stronger than ever.

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The high-profile event, which took place on Thursday, 7^th May 2026, at Azerbaijan’s Ministry of Economy, came as part of ongoing preparations for the upcoming IsDB Group Annual Meetings and Private Sector Forum (PSF 2026), scheduled to take place from 16 to 19 June 2026, under the high patronage of His Excellency President Ilham Aliyev, the President of the Republic of Azerbaijan.

Bringing together a diverse range of stakeholders, the Forum showcased IsDB Group services, activities, and initiatives across its 57 member countries, with particular emphasis on Azerbaijan. It highlighted the Group’s ongoing support for private sector development and its efforts to stimulate promising investment and trade opportunities in the Azerbaijani market.

The event also served as a unique opportunity, inviting the audience to participate actively in IsDB Group Annual Meetings and the Private Sector Forum (PSF 2026). The program included panel discussions and specialized workshops on ways to enhance economic partnerships and the role of IsDB Group’s institutions in supporting the needs of member countries. The spectra of services, solutions, and financial tools were also presented, including lines and modes of Islamic financing, trade finance, and trade development solutions, corporate private sector financing, as well as risk mitigation solutions, plus investment insurance and export credit insurance services.

Keynote speakers, in their speeches, underlined strong commitment to deepening engagement with the private sector and fostering meaningful partnerships that drive sustainable economic growth in light of the upcoming IsDB Group Annual Meetings in Baku, all to showcase integrated solutions especially in Islamic finance, trade, investment, and risk mitigation while working closely and collectively with private sector partners to unlock new opportunities, support innovation, and empower businesses contributing to inclusive and resilient development across IsDB Group member countries.

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The report captures insights from 115 government leaders, executives, and technology decision‑makers from around the world, offering a focused view of how public sector organisations are embracing artificial intelligence (AI), data, cybersecurity, and digital foundations while grappling with challenges around scale, skills, and governance.

As governments accelerate toward a more digital, data‑driven future, the research highlights a clear shift from tactical projects to enterprise‑wide transformation. While AI and cybersecurity remain high on the agenda, leaders are placing renewed emphasis on strengthening core digital foundations, including cloud platforms, enterprise systems, data management capabilities, workforce skills, and ecosystem partnerships, to build resilience and improve service delivery in an increasingly complex environment.

The findings underscore that ambition continues to outpace execution. Many public sector organisations are still constrained by fragmented data environments, organisational silos, legacy technology debt, and talent shortages, limiting their ability to scale pilots and convert innovation into sustained, measurable impact. In response, leading governments are sharpening their technology strategies, adopting citizen‑centric design principles, and forming trusted, outcome‑focused partnerships to accelerate execution, strengthen delivery confidence, and unlock long‑term public value and trust.

Nilachal Mishra – Partner and Head, Government and Public Services, KPMG in India, said, “India’s public sector stands at a critical juncture as it moves from digital implementation to intelligent, outcome-led transformation. While AI, data, and cloud provide the technological impetus, lasting impact will depend on three foundations: robust digital infrastructure, seamless institutional integration, and trusted cross-sector partnerships. By embedding citizen-centric design, responsible AI, and resilient operating models into the core of government, India can accelerate execution, enhance public trust, and deliver long-term value at scale“.

Key findings from the Global Tech Report 2026 – Government and Public Sector include:

• 89 per cent describe themselves as technology innovators or fast followers, signaling strong transformation intent
• 86 per cent believe managing AI agents will become an important workforce skill within the next five years, reinforcing the urgency of talent and capability transformation
• 64 per cent plan to increase investment in cybersecurity over the coming year, reflecting heightened risk and threat awareness
• 59 per cent expect to increase budgets for data and analytics, many by more than 10 per cent, to improve insight‑driven decision‑making
• 55 per cent say they are getting 40 per cent or more of their financial value from foundational and core tech
• 48 per cent of government respondents say they will be deploying AI use cases into production at scale within the next 12 months
• 43 per cent admit they are hitting roadblocks in scaling digital and AI initiatives across the enterprise
• 40 per cent anticipate spending more than 40 per cent of their technology budgets on maintaining legacy environments, highlighting the drag of technical debt

Taken together, the insights point to a government and public sector at a critical inflection point. Those organisations that invest in strong digital foundations, responsible and scalable AI, cyber resilience, and workforce capability—while maintaining a human‑centric, outcomes‑driven approach—will be best positioned to deliver trusted, resilient, and citizen‑focused services in the Intelligence Age.

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This milestone highlights a closely integrated development-to-submission model: Orbicular led the product development and technical program for this complex peptide, while OneSource supported the program as the CDMO partner, providing end-to-end manufacturing capabilities for the U.S. market filing. The collaboration is designed to ensure a reliable commercial supply from OneSource’s US-FDA-approved flagship site in Bangalore.

Neeraj Sharma, CEO & MD, OneSource Specialty Pharma Limited, speaking on the development, said: “We are pleased to announce that our partner Orbicular, along with its front-end partner (the ANDA holder), has received tentative approval for a generic version of Ozempic® (Semaglutide Injection). This milestone reflects Orbicular’s scientific expertise and OneSource’s COMO capabilities, supported by our US-FDA approved manufacturing site.”

OneSource continues to strengthen its position as a global CDMO partner for drug-device combinations, complex injectables, and specialty pharmaceutical products through strategic collaborations such as the one with Orbicular, where OneSource serves as the CDMO partner supporting manufacturing and commercial supply readiness.

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TOKYO: NTT DATA, a global leader in AI, digital business, and technology services, announced an initiative to deliver NVIDIA-powered enterprise AI factories that drive innovation and operational excellence for organizations worldwide. NTT  DATA’s new enterprise AI factories provide full-stack, domain-specific solutions that integrate data, infrastructure, workflows, and governance to give organizations a repeatable and production-ready operating model for enterprise AI.

NTT DATA enterprise AI factories, powered by NVIDIA, are adaptive, intelligent, and automated ecosystems designed to help clients accelerate return on investment by scaling enterprise AI efficiently and managing the full AI lifecycle end to end. The company’s new enterprise AI factories integrate the NVIDIA AI infrastructure—combining GPU-accelerated computing and high-performance networking—with NVIDIA AI Enterprise software, including NVIDIA NIM microservices, to deliver high‑throughput, low‑latency AI that can be deployed consistently across cloud, data center, and edge environments. Through NTT DATA’s advanced solutions and services, this enables scalable model training, inference, and enterprise AI application development.

Building on NTT DATA’s end-to-end capabilities and deep industry expertise, the NVIDIA-powered enterprise AI factories are purpose-built to meet domain-specific requirements at industry scale. This enables organizations to drive faster innovation, optimize operations, enhance knowledge management, and support data-driven decision-making while reducing risk and time to value.

“Visionary enterprises are redesigning core workflows end to end with AI, and they need trusted partners working in unison to achieve transformative and measurable results,” saidAbhijit Dubey, CEO, NTT DATA, Inc. “By integrating NVIDIA technologies into our enterprise AI factories, we’re giving clients a powerful, standardized and secure environment to adopt agentic AI with measurable returns from the start.”

NTT DATA Real-World Deployments Demonstrate Measurable Impact

Early adopters are demonstrating how NTT DATA is deploying NVIDIA AI infrastructure to translate advanced AI capabilities into real-world, domain-specific impact. Examples include:

• Healthcare: A leading cancer-research hospital is working with NTT DATA and Dell to use NVIDIA HGX platforms for advanced radiology analysis and rapid model evaluation, supporting clinical research and diagnostic workflows.
• Automotive Manufacturing: A global automotive supplier partnered with NTT DATA to accelerate smart factory modernization using GPU as a Service powered by NVIDIA AI infrastructure. This manufacturer reduced production setup time from months to days by validating workloads on bare metal and then scaling them via an AI-factory architecture.
• Technology Manufacturing: A U.S.-based advanced manufacturing company is working with NTT DATA to virtually validate a next-generation battery production line using NVIDIA-accelerated simulation and 3D visualization. Modeling material flow, automation logic, and production scenarios before physical deployment reduces commissioning risk, improves throughput, and establishes a scalable foundation for future digital factory expansion.

NTT DATA Integrates NVIDIA NeMo and NIM Microservices

NTT DATA has also expanded NTT DATA AI solutions by integrating NVIDIA NeMo, a modular software suite for building, customizing, and managing enterprise-scale agentic AI systems on GPU-accelerated infrastructure, and NVIDIA NIMmicroservices, which provide prebuilt, GPU‑optimized containers with industry‑standard APIs for fast, reliable deployment of AI applications at scale.

NTT DATA offers integrated, prequalified GenAI prototypes and solutions that standardize output, minimize complexity, reduce risk, speed adoption, and accelerate return. With the integration of NeMo and NIM, NTT DATA AI solutions provide a full-stack, production-ready, GPU-accelerated AI agent platform.

“Organizations worldwide are moving from isolated model adoption to intelligent AI solutions and platforms, often complementing GenAI with agents that reason, act, and adapt within enterprise systems,” said Yutaka Sasaki, President and CEO, NTT DATA Group. “Embedding NVIDIA technologies into our platforms accelerates innovation while giving clients the performance, control, and compliance they require.”

“Enterprises are now seeking robust, scalable platforms that can successfully transition their AI initiatives from pilot projects to full-scale production,” said John Fanelli, Vice President, Enterprise Software, NVIDIA. “NTT DATA’s AI factory offerings, built on the NVIDIA full-stack platform, provide clients with the domain-specific solutions needed to confidently achieve production-grade enterprise AI at scale.”

NTT DATA Builds on Longstanding Foundation of Innovation with NVIDIA Technology

NTT DATA is the only global IT services provider that is active across NVIDIA’s Solution Provider, Cloud Partner, and Global System Integrator Partner Network tracks. This broad and deep expertise enables NTT DATA to deliver unique full-stack services, from advisory to deployment and operations.

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JEDDAH: The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank (IsDB) Group, and the Islamic Republic of Mauritania have signed a three-year Memorandum of Understanding (MoU) establishing a framework for strategic cooperation across key areas of private sector development and economic capacity building.

The agreement was signed at ICD Headquarters by H.E. Dr. Abdellah Souleymane Cheikh-Sidia, Minister of Economic Affairs and Cooperation, IsDB Governor, and the Acting CEO of ICD, Dr. Khalid Khalafalla, in the presence of H.E. Mohamed Lemine Dhehby, Central Bank of Mauritania, IsDB Alternate Governor,  and senior officials from the IsDB Group and members of the Mauritanian delegation.

A central pillar of the MoU is ICD’s commitment, on a non-binding and best-effort basis, to arrange a Shariah-compliant syndicated or club financing facility of up to USD 900 million in favor of Mauritania Saudi Mining and Steel S.A. (Takamul). The facility will support the development of the Atomai iron ore project in the Tiris Zemmour mining region, encompassing an open-pit iron ore mine, beneficiation facilities, two pelletizing plants in Nouadhibou, and ancillary infrastructure, including power generation and water desalination, targeting an annual output of 10 million tonnes of High-Grade Direct Reduction Pellets.

Beyond this flagship initiative, the cooperation framework encompasses a range of activities aimed at strengthening Mauritania’s institutional foundations and broadening access to private sector financing. These include supporting Mauritania’s sovereign credit rating engagement, developing a Public-Private Partnership (PPP) ecosystem, and extending lines of financing to local financial institutions to enhance SME access to capital. ICD will also work to identify and finance bankable projects in priority sectors, including energy.

Commenting on the signing, Dr. Khalid Khalafalla, Acting Chief Executive Officer of ICD, said: “We are honored to formalize this cooperation with the Islamic Republic of Mauritania. This MoU reflects our commitment to deploying Shariah-compliant finance as a catalyst for sustainable development. From supporting one of the region’s most significant mining and industrial projects to building institutional capacity in areas such as PPP and sovereign credit rating readiness, ICD is proud to play a role in Mauritania’s long-term economic transformation.”

H.E. Abdullah Suleiman Sheikh Sidiya, Minister of Economic Affairs and Development and IsDB Governor for Mauritania, stated:  “This partnership marks an important step in strengthening Mauritania’s efforts to accelerate sustainable and inclusive economic growth. Through this cooperation with ICD, we aim to mobilize innovative and Shariah-compliant financing solutions to support strategic investments, strengthen our institutional framework, and expand opportunities for private sector development. We particularly welcome ICD’s support in areas such as sovereign credit rating engagement, the development of a robust PPP ecosystem, and improving access to finance for SMEs. These initiatives will contribute to unlocking Mauritania’s economic potential and advancing our long-term development objectives.”

H.E. Mohamed Lemine Dhehby, Governor of the Central Bank of Mauritania and Alternate Governor of the IsDB Group, said: “Strengthening Mauritania’s sovereign credit profile is an important step toward deepening our integration into international financial markets and unlocking new sources of sustainable financing for our development priorities. We welcome ICD’s support in advancing our sovereign credit rating engagement and in reinforcing the financial ecosystem necessary to attract long-term investment. This collaboration will contribute to enhancing transparency, strengthening investor confidence, and supporting the continued development of Mauritania’s financial sector.”

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