Category — Market Entry
Sourcing from India for 30 years for its global stores, Swedish home furnishing company, IKEA, plans to double its sourcing from India to 600 million euros by 2020. About 70 percent of the current sourcing is in textiles and rugs.
To be part of the $600 billion Indian retail market, IKEA has pledged to invest over $1.5 billion in India over the next 10 years, reports Shilpa Kannan of BBC.
The company also plans to launch 25 stores in the next 10 years in India, and it will invest $110 million on its first store in the southern city of Hyderabad that will span over 400,000 sq feet, reports The Hindu. Construction work has begun on a 13 acre plot of land.
IKEA India CEO Juvencio Maeztu told reporters that this will be followed by opening more stores in the cities of Mumbai, Banalore and Delhi NCR. He said the company will open two to three retail stores every year. Ahmedabad, Chennai, Kolkatta, Pune and Surat are the other cities IKEA is looking at. Some major cities may get more than one store, he added.
August 13, 2016 No Comments
Warsaw, Indiana-based medical device company Zimmer Biomet announced a multi-year collaboration with the Indo-U.K. Institutes of Health that will increase the capacity of India’s healthcare infrastructure. The Institute will help improve the delivery of healthcare across India by training more than 1,000 orthopedic surgeons annually on the latest orthopedic procedures and the safe and effective use of Zimmer Biomet medical technologies.
The first phase of the collaboration involves the establishment of the Zimmer Biomet Institute of India, a 30,000 square foot medical training and education facility on the campus of King’s College Hospital in Amaravati, in the eastern state of Andhra Pradesh. Zimmer Biomet plans on investing $5 million in this facility over three years, starting in 2017. The King’s College Hospital in Amaravati is scheduled to break ground later this year, and is expected to create jobs for 2,500 nurses and 500 physicians.
Beckersspine reports that the Indo UK Institutes of Health, along with the United Kingdom’s National Health Service, is also planning on establishing 11 “medicities” across India, which will include hospitals, medical schools and training centers. The initiative is backed by the U.K. and Indian prime ministers and governmental institutions, including U.K. Trade and Investment and Healthcare UK.
August 7, 2016 No Comments
Waltham, Massachusetts-based global diagnostic device and service provider, Alere Inc., announced the opening of a diagnostics manufacturing facility in Manesar, in the northern state of Haryana, which will produce rapid tests for the detection of infectious diseases including Malaria, Dengue and HIV and export them across the Asia Pacific region. The 180,000 square foot factory, in which the company has currently invested $25 million, will initially employ a staff of y 300 people; it can double its capacity as needed.
Namal Nawana, CEO & President, Alere Inc., said, ”Alere’s new facility will support the goals of our ‘Make in India’ initiative, which seeks to transform India into a global manufacturing hub. Efforts to foster and expand India’s medical device sector are important not only to our economic growth, but also to improve the health of the people of India. The new state-of-the-art facility will not only help us meet the needs of the burgeoning domestic market but also help us cater to the APAC market.”
BioSpectrum reports that Alere Inc., aims to achieve its target of $ 149 million (Rs. 1,000 crore) over the next 3 years equipped with portfolio innovative Point-Of-Care-Testing diagnostic products that will focus on improving health outcomes. The company will continue to focus on cardiometabolic diseases, infectious diseases and toxicology solutions in India by providing affordable, sensitive, specific, user-friendly, devices for disease control & management.
August 6, 2016 No Comments
Bangalore, India-based Graviky Labs, is turning polluted air into paint and ink. The lab is the brainchild of Anirudh Sharma who co-led the MIT Media Lab India Initiative for two years, where he worked on creating an innovation ecosystem in India.
Vehicular emissions are one of the biggest contributing factors of India’s serious pollution woes, and ”because of this, we wanted to create technology that can capture a vehicle’s carbon emissions without compromising the performance of the vehicle. Our vision is to arrest the vehicular, environmental soot in a way that it doesn’t reach our lungs,” says Sharma.
July 31, 2016 No Comments
The Center for International & Strategic Studies (CSIS), a well-respected Washington think tank, has just released the first in a series of reports identifying which of the various Indian states have instituted breakthrough reforms of the business climate.
The southern state of Andhra Pradesh, under Chief Minister N. Chandrababu Naidu‘s leadership wins the first-ever State Breakthrough award for an industrial land policy that combines a large land bank, a long standard lease, and an openness to selling state land to private sector buyers. The states of Telangana and Haryana rank second and third, according to the report.
Nathan Associates and the CSIS Wadhwani Chair gathered data primarily from official government publications, and occasionally supplemented it with information from reliable media sources.
Highlights from the Data:
Andhra Pradesh had the largest land bank, at 338,000 acres, including current Industrial Estates. Maharashtra (207,000 acres), Telangana (139,000 acres), Karnataka (116,000 acres), and Gujarat (103,000 acres) rounded out the top five.
Andhra Pradesh, Haryana, Odisha, Punjab, and Telangana are the only states that clearly lay out the terms under which they will sell government land to private buyers. Telangana and Haryana are the only states where sale is the default mode of land transfer.
Five states — Andhra Pradesh, Gujarat, Karnataka, Punjab, and Tamil Nadu — offer a standard 99-year lease. Maharashtra, Odisha, and Uttar Pradesh all get honorable mentions for standard leases between 90 and 95 years.
July 23, 2016 No Comments