Category — Market Entry

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

NBA To Open a Training Facility in India

The National Basketball Association announced plans to open a training facility for top prospects in India — NBA Academy India will focus on instruction for athletes ages 14 to 18 and will be located in the National Capital Region. It is scheduled to begin operation in April 2017 and will provide academic education through a school partnership, reports ESPN.

“Our mission with this academy is to develop and grow basketball in India,” NBA vice president of international basketball operations Brooks Meek said. “It’s focused on improving the level of the players on the national team and to really give a vision to Indian kids that there’s a chance and a pathway for them in basketball.”

Basketball

By February 2017, representatives from NBA will select the first 24 male scholarship athletes from a series of scouting camps which they plan to hold across the country. The league will also select coaches, scouts and consultants to staff the academy.  Once the facility begins operations, top female athletes will be enrolled to train at the academy too.

“The strategy is a holistic approach,” Meek said. “This is off-court and on-court education, all of the things we feel that we want to have a direct impact on influencing the 360-degree development of an elite basketball player.”

December 22, 2016   No Comments

Apple Discussing with Government on Manufacturing in India

Apple Inc., has written a letter to the federal government in India outlining its plans to seek financial incentives in an effort to gain market share in the country where 97% of all smartphones run Android, reports Buzzfeed.

Earlier in June, the government allowed single-brand retailers like Apple to open stores in the country with the caveat that they procure at least 30% of their raw materials from India after the first three years.

apple-ipad_1

Prime minister, Narendra Modi, has been trying to ramp up manufacturing in the country through the “Make In India” initiative, and smartphone makers such as Samsung, Xiaomi, and OnePlus already assemble their phones in India to keep prices down.

With 50 million of the country’s 1.2 billion people owning a smartphone, India’s market is not saturated, yet, and is an attractive market for Apple to see significant growth.

 

December 20, 2016   No Comments