MAM
Standard Chartered India ropes in P.D. Singh as new CEO from April 2025
MUMBAI: Standard Chartered has announced the appointment of P.D. Singh as its chief executive officer (CEO) for India, effective 1 April 2025. Singh will succeed Zarin Daruwala, who is set to retire on 31 March 2025, after an illustrious tenure at the helm.
Bringing nearly 30 years of experience in banking and finance, Singh holds a double MBA alongside an engineering degree. His career spans leadership and coverage roles across top European and American banks, making him a formidable force in the industry.
Before joining Standard Chartered, Singh served as CEO of JP Morgan Chase Bank NA India. Prior to that, he spent a decade at HSBC, where he held multiple leadership roles in corporate and commercial banking.
With deep industry knowledge and a track record of steering financial institutions to success, Singh’s leadership is expected to drive innovation, strengthen client relationships, and accelerate Standard Chartered’s growth in India. His global exposure positions him well to navigate the evolving financial landscape while ensuring continuity and stability.
As Daruwala prepares to retire, Standard Chartered acknowledges her significant contributions to the bank’s success in India. Under her leadership, the bank witnessed remarkable expansion and innovation, solidifying its position in a competitive market.
Singh’s appointment signals a bold step towards the future, reinforcing Standard Chartered’s commitment to leadership in India’s dynamic banking sector.
Brands
Funskool India crosses US$40 million turnover in FY 2025-26
Toy manufacturer posts steady growth despite global headwinds.
MUMBAI: Funskool India has played its cards well turning challenges into steady growth while keeping the fun alive in the toy business. The country’s leading toy manufacturer has reported a turnover of $40 million in FY 2025-26, demonstrating resilience in a difficult global environment. The company recorded an average growth of 14 per cent over the past two years, with exports growing at a healthy 19% year-on-year.
While domestic business grew at a modest single-digit pace, Funskool saw encouraging traction in key categories such as Fundough (dough) and Handycrafts (arts & crafts).
Funskool India Ltd. CEO K.A. Shabir said, “We successfully navigated the challenges posed by US tariffs last year and continued to grow both our export and domestic businesses. Given the ongoing geopolitical situation in West Asia, we are currently working with a moderate growth outlook of 12–15 per cent, with plans to revisit our targets after Q1 once the situation stabilises.”
He highlighted strengthened partnerships with global companies including Spin Master (Canada), Moose Toys (Australia), Melissa & Doug (USA), Asmodee (France), Learning Resources (USA), and Buffalo Games (USA). The expansion of the company’s Goa plant is progressing and is expected to be completed by the end of the current financial year.
Looking ahead, Funskool expects a significant shift in domestic growth momentum for FY 2026-27, driven by new categories such as friction vehicles under the brand “BlazeTrix”, remote-control cars under “VoltRush”, and the addition of popular licences like Paw Patrol.
In an industry where playtime never stops, Funskool has shown that even in turbulent times, a smart strategy and strong partnerships can keep the business ticking along nicely. As it gears up for the next financial year, the company appears well-positioned to build on its solid foundation and bring even more joy to children worldwide.
