Category — Market Entry
The Wall Street Journal’s and the Dow Jones VentureSource’s Billion Dollar Club includes startups that venture-capital investors believe are worth at least $1 billion and have raised money in the past three years, and four Indian startups make the list.
Ranked 5th of 73 companies listed is Flipkart Internet Private Ltd., India’s largest e-commerce company by sales valued at $11 billion. Snapdeal, a rival online marketplace, ranks 30th with a value of $2 billion. Online-ad company InMobi, valued at $2.5 billion, and Ola Cabs valued at $1 billion are also included in the club.
India is expected to become home to the world’s second-largest number of startups, after the U.S., in the next couple of years as investors pipe in cash to new companies.
February 27, 2015 No Comments
U.S.-based chip manufacturing company Cricket Semiconductor is setting up a $1 billion analog seminconductor fabrication facility in the central state of Madhya Pradesh in India. The fab will manufacture analog/power chips that are key components of any electronic product.
India is a large consumer of electronic products and services, and the electronics market is growing rapidly. It is expected to rise from a reported $68 billion in 2012 to $400 billion by 2030. The county consumes close to $7 billion worth of semiconductors every year and this is expected to expand to $55 billion by 2020. Currently India imports almost all electronic content. Without an internal semiconductor manufacturing capability, by 2030 India’s outflow of cash will be 8% of its gross domestic product.
Both Lou Hutter the CEO of Cricket Semiconductor and Mark Harward the co-founder used to work at Texas Instruments Inc.
“India has a large and fast growing electronics market. A specialty wafer fab focused on analog/power semiconductors is well suited to catalyze the Indian Electronics System Design and Manufacturing ecosystem. We are confident that we can establish a high-volume, globally competitive specialty wafer fab in India,” said Lou Hutter.
February 25, 2015 No Comments
In India’s first helicopter competition reserved for domestic defense companies to produce a light utility helicopter (LUH), Larsen & Toubro has teamed up with Airbus Helicopters; Tata Advanced Systems with Sikorsky Aircraft; Mahindra Defense Systems with Bell Helicopter; and Punj Lloyd with Russian Helicopters. State-owned Hindustan Aeronautics also is negotiating a tie up with Russian Helicopters.
When the Modi government came to power in May 2014, it canceled a 2009 global re-tender to purchase 197 LUHs and instead issued the RFI only to domestic defense majors as part its policy to build domestic industry capabilities.
The domestic companies were required to respond by February 17 to a request for information (RFI) they received last October to provide the helicopters on a “Buy and Make” (India) basis in the $2.5 billion tender.
DefenseNews reports that the RFI describes purchase of 197 LUHs — 133 for the Army and 64 for the Air Force — though an air force official said that India required more than 400 light utility helicopters.
February 22, 2015 No Comments
The Airports Council International ranked Hyderabad International Airport third best in the world in Airport Service Quality (ASQ) in the 5-15 Million Passengers Per Annum Category, for the year 2014. The airport has retained its position among the top three airports in this category for the 6th consecutive year, reports The New Indian Express.
The ASQ survey has become the world’s leading airport passenger satisfaction benchmarking survey which represents passenger feedback on 34 key service indicators, and has over 300 airports participating.
February 19, 2015 No Comments
Amazon India has secured the title sponsorship of India Fashion Week, a prestigious bi-annual event organized by the Fashion Design Council of India. India’s deep-pocketed e-commerce companies are increasingly snapping up title sponsorships of television shows, and fashion and sporting events to increase their visibility. Amazon will spend close to $16 million (100 crore rupees) for a multi-year association with the event which will now be called Amazon India Fashion Week. Amazon replaces Will Lifestyle, the clothing brand associated with the ITC cigarette line, “Wills.”
Backed by private equity money and foreing investment online companies have been spending big on advertising as more and more consumers across the country have started shopping online.
Economic Times reports that Amit Deshpande, director for seller’s services at Amazon, said in an interview last month that the U.S. e-commerce company has been building its fashion vendor base over the last one year and the company is currently in position to pitch its fashion offerings.
February 19, 2015 No Comments