Brands
India to build Mercedes-Maybach GLS, price cut over Rs 40 lakh
PUNE: India has just parked itself firmly in the global fast lane of luxury motoring. Mercedes-Benz will begin local production of its ultra-luxury Maybach GLS in India, making the country the first market outside the United States to assemble the flagship SUV. Until now, the model rolled out only from the brand’s Tuscaloosa plant in Alabama.
The move reflects India’s growing appetite for high-end automobiles. The country has entered the top five global markets for Mercedes-Maybach in 2025, a milestone that surprised even seasoned industry watchers.
“India is now among the top five Mercedes-Maybach markets globally,” said Santosh Iyer, managing director and chief executive officer of Mercedes-Benz India, speaking to CNBC TV18. “Localisation allows us to pass on pricing benefits directly to customers.”
Those benefits are substantial. The locally assembled Maybach GLS will be priced at Rs 2.75 crore ex-showroom, sharply lower than the earlier fully imported version that cost Rs 3.17 crore.
Luxury, it seems, is no longer niche. Cars priced above Rs 1.5 crore now make up over a quarter of Mercedes-Benz India’s total sales. The company’s top-end portfolio grew 11 per cent in 2025, delivering one of its strongest revenue years in the country.
Customers at this end of the market are not just buying cars, Iyer said. They are buying personal statements. While locally built Maybach GLS models promise quicker deliveries, fully imported versions will remain available for buyers seeking bespoke customisation or enhanced security features.
Electric luxury is also quietly picking up speed. While EVs still form a small slice of the overall Indian car market, they account for nearly 20 per cent of Mercedes-Benz’s top-end sales. To ease charging anxiety, the company has rolled out MB.Charge in India, bringing together more than 9,000 DC charging points on a single platform, with in-car payment functionality planned for future models.
Despite a sluggish luxury market growing at just 1 to 2 percent, Mercedes-Benz is steering clear of heavy discounts.
“We are not playing the price game,” Iyer said. “Residual value and brand integrity matter more than short-term volumes.”
Looking ahead, 2026 promises to be busy. Mercedes-Benz plans to launch 12 new vehicles in India across petrol, diesel and electric powertrains. Among them will be the new CLA, set to become the brand’s entry point into electric mobility.
In short, the Maybach may be built for the elite, but its local assembly signals something broader. India is no longer just buying global luxury. It is helping build it.
Brands
Reserve Bank of India cancels Paytm Payments Bank licence
Central bank cites compliance failures; curbs tighten as wind-up looms
MUMBAI: India’s banking watchdog delivered its sharpest blow yet to Paytm Payments Bank, cancelling its licence and effectively ending its ability to operate as a bank under the law.
The Reserve Bank of India said the entity can no longer conduct banking business under the Banking Regulation Act, citing concerns that its affairs were not being run in the interest of depositors or the public and that it had failed to meet licence conditions.
The move escalates a crackdown that has been building for months. The bank had already been barred from onboarding new customers since March 11, 2022, and later faced restrictions on deposits, credit and wallet top-ups. In January 2024, the central bank ordered it to stop accepting fresh deposits, pointing to persistent non-compliance, including lapses in customer due diligence, use of funds and technology systems.
Operationally, the bank is now on a tight leash. It may process withdrawals of existing deposits and facilitate loan referrals through banking correspondents, but it cannot take fresh deposits.
The central bank said it would apply to the high court to wind up the bank.
Paytm sought to ringfence the fallout. In a regulatory filing, it said the licence cancellation applies to Paytm Payments Bank Limited, a separate entity, and should not be attributed to One 97 Communications. It added that there is no exposure or material business arrangement with the bank and that it operates independently, without Paytm’s board or management involvement.
“As informed earlier, Paytm (One 97 Communications Limited) and its services, which have been operating without interruption, will continue to operate uninterrupted. These include the Paytm app, Paytm UPI, Paytm Gold and all other services offered by its subsidiaries and associated companies,” the company said.
The distinction may reassure users of the app ecosystem, but the regulator’s verdict is unequivocal. After years of warnings, caps and curbs, the payments bank experiment at Paytm is being shut down—decisively, and with little room left to manoeuvre.
