Category — Market Entry

India’s Property Market May Flourish in 2017

Word on the street was that India’s November 2016 demonetization of high value currency notes would have a significant impact on the real estate price; here is what the experts say:

Forbes reports that 2017 will be a bumper year for India’s real estate market as well as for its economy. The country tops the list of preferred destinations for investment in property by institutional investors.

High Rise Apartments

The middle class in India is the driver of the surge in domestic consumption, has very little household debt and is looking for suitable housing. The finance industry is supportive and India’s central bank has repeatedly cut interest rates. All these factors are promising trends for investors in the realty market, and for 2017 Bangalore and Mumbai are the top-ranked cities for both investment and development, according to the 2017 version of Emerging Trends in Real Estate Asia Pacific, put out by Washington D.C.-based Urban Land Institute.

India is seeing a boom in business-park development, and suburban development is creating new business and residential neighborhoods. Blackstone of New York City, the Toronto-based Brookfield Asset Management, privately-held Chinese conglomerate Dalian Wanda are seriously interested in property assets in India.

Anuj Puri, chairman and country head of Jones Lang LaSalle India says: 2016 saw the biggest changes in decades, especially on the policy front – the Goods and Services Tax and the Real Estate Regulatory Authority bill cleared hurdles, and are on their way to implementation. REITs will help smaller investors to invest in Grade-A commercial real estate across India. India’s first REIT listing will happen in 2017.

India’s Tier-I cities moved up to the 36th rank in JLL’s biannual Global Real Estate Transparency Index in 2016 due to improvements in structural reforms and liberalization of the foreign direct investment policy. India came 4th in developing Asia in terms of Foreign Direct Investment inflows per the World Investment Report 2016 by the United Nations Conference for Trade and Development. Thanks to a proactive government keen on improving India’s ranking on different indices and strengthening public institutions, the country is poised to become a modern economy.

As the real estate market achieves higher transparency, the mismatch of demand/supply can offer opportunities for developers and investors alike. Indian real estate is on its way to becoming a consolidated and moderately efficient  sector over the next few years.

 

December 30, 2016   No Comments

Data Migration Resources Sets Up Product Development Center in India

Mission, Kansas-based Data Migration Resources (DMR), a company that deals in data conversion, data quality and data governance, inaugurated its product development center in the southern city of Hyderabad, India. Managing Director Vijay Garud said, “This is a leased facility and after two to three years, we might consider building our own office”

Data Management

The five-year-old, privately-held DMR helps companies migrate data when they implement SAP. Going ahead, DMR will also build competencies in data governance (which is mainly about ensuring data quality). The company has around 150 employees globally, reports the Times of India.

December 29, 2016   No Comments

Reinsurance Group of America Opens India Branch

The Insurance Regulatory and Development Authority of India granted the Certificate of Registration to Missouri headquartered Reinsurance Group of America to set up a branch in India. RGA’s Canadian entity – RGA Life Reinsurance Company of Canada will be based in Mumbai.
Insurance

RGA has been operating in India since 2001 through its Irish entity and has 23 life insurance companies including state-owned Life Insurance Corporation as its clients in India and 5 in Sri Lanka, reports Money Control.

Thomas Mathew, managing director and CEO said the company has a long-term commitment to the Indian insurance market and is keen to provide continued service to its clients.

December 28, 2016   No Comments

Inteva Products Inaugurates India Technical Center

Troy, Michigan-headquartered Inteva Products, a global Tier One automotive supplier of engineered components and systems, celebrated the opening of its new India Technical Center in Bangalore.  On the occasion, Inteva President, CEO and Founder Lon Offenbacher said the idea behind this facility was to expand the company’s technical capabilities and footprint in the southern India.

Inteva Panoramic Roof Systems

The center of expertise houses advanced engineering support, design, development, durability testing, and functional testing teams. The teams will focus on developing and launching advanced technologies in roof systems, closures, and motors and electronics for Inteva’s global customers, reports The Hindu. The center currently employs more than 200 research and development engineers, with plans for additional growth.

December 22, 2016   No Comments

Semtech Partners with Tata Communications

Camarillo, California-based Semtech Corporation has teamed up with Tata Communications to launch India’s first applications center to facilitate LoRa, or long range networks, technology in Mumbai.

The Economic Times reports a joint statement by the two companies which said that this center will allow enterprise customers and Internet of Things  solution providers to deploy and test their applications over a LoRaWAN-based low power, wide area network. As many as 35 IoT applications can be deployed across Bangalore, Delhi and Mumbai. Research firm IDC estimates that the global IoT market will grow to $7.1 trillion by 2020, up from $1.9 trillion in 2013.

IoT

“The current LoRaWAN-based network allows millions of devices to be connected, and our goal is to have 200 million end devices connected by 2019,” V.S. Shridhar, Senior Vice President and Head – Internet of Things, Tata Communications said.

December 22, 2016   No Comments