Category — Market Entry

Mexico’s Grupo Bimbo Enters India

Mexican company Grupo Bimbo, the world’s biggest baked goods manufacturer acquired a 65 percent stake in Jaipur, Rajasthan-based Ready Roti for an undisclosed amount. The move is a sign of Bimbo’s interest in emerging markets.

Ready Roti manufactures many kinds of breads, buns, pizza bases, as also rotis or Indian bread under the brand name Harvest Gold.

A packet of Ready Roti

Just-Food reports that Ready Roti has four plants and more than 500 workers, and that its annual sales are about $48 million.

 

May 30, 2017   No Comments

CPPIB to Form JV with India’s IndoSpace Realty

Canada Pension Plan Investment Board (CPPIB) plans to invest up to $1.2 billion in a joint venture with Mumbai-based IndoSpace, an industrial real estate-focused investment firm jointly owned by private equity investor Everstone Capital and Maryland-based Realterm Global.

Key Highlights:

  • Canada Pension Plan Investment Board and IndoSpace form IndoSpace Core, a joint venture that will focus on acquiring modern logistics facilities in India.
  • CPPIB has initially committed approximately $500 million to the joint venture and will own a significant majority stake.
  • IndoSpace Core has committed to acquiring 13 well-located industrial and logistics parks totaling approximately 14 million square feet, from current IndoSpace development funds.
  • The venture also has the option to acquire an existing pipeline worth approximately $700 million as well as participate in a future development pipeline.

A warehouse

Andrea Orlandi, Managing Director, Head of Real Estate Investments – Europe, CPPIB, said, “The strong fundamentals underlying the Indian manufacturing and retail sectors and growth in e-commerce, combined with the low stock of high-quality modern industrial real estate in the country, make this a compelling investment opportunity for a long-term investor like CPPIB.

The Canadian fund, which has invested about $3 billion in India since 2010, has been ramping up its India play over the past couple of years. Last month, the Toronto-headquartered fund formed a joint investment platform with Mumbai-based developer The Phoenix Mills Ltd to develop, own and operate retail-led mixed-use developments in India, reports VCCircle.

 

 

 

May 16, 2017   No Comments

UberEats launches in Mumbai

San Francisco-based Uber launched its initial UberEats service in Mumbai, and by the end of this year the company plans to expand this service to six cities in India. The country’s online population is tipped to reach 450 million-465 million people by June 2017, according to a report co-authored by the Internet and Mobile Association of India, bringing with it the potential to connect people to taxis, cars, food and more.

“Mumbai is home to a booming food industry with a vibrant food culture offering both global and local cuisines. The introduction of UberEats in India, with Mumbai as the first city, is a major step in our global expansion and showcases our commitment to the region,” Bhavik Rathod, Head of UberEats India, said.

Uber Eats Food Service

TechCrunch says: Uber has thrown more focus on Eats lately, beyond its ongoing global expansion. Recent updates added tailored recommendations, customizable drop-off directions for drivers and new filtering options, while it also introduced a restaurant management service that helps restaurant partners get actionable insight through data.

 

 

May 15, 2017   No Comments

India’s Infosys to Set Up Tech Center in Indiana

Bangalore, India-based information technology company Infosys announced that it will establish a central Indiana tech center, the first of four facilities it plans to launch as part of a broader expansion in the United States that is projected to create 10,000 jobs over the next two to four years.

Vishal Sikka, CEO of Infosys joined Republican Governor Eric J. Holcomb to announce an $8.7 million investment to lease and equip office space in the Indianapolis area that will accommodate 2,000 new workers by the end of 2021, reports abc News.

Indiana Gov Holcomb

Indiana Gov. Holcomb

Speaking on the occasion, Governor Holcomb said, “Indiana continues to put the tools in place, such as the Next Level Trust Fund and incentivizing direct flights, that allows us to attract and retain great companies like Infosys. In addition, our higher education institutions are producing a world class workforce, establishing Indiana as the innovation hub of the Midwest. I look forward to working with Infosys to elevate Indiana to the next level.”

 

May 14, 2017   No Comments

Facebook Rolls Out Express Wi-Fi in India

Facebook announced the commercial launch of Express Wi-Fi, its second attempt to bring millions of Indians online at an “affordable” fee. The service is currently available in the four Indian states of Uttarakhand, Gujarat, Rajasthan, and Meghalaya, where the company has 700 hotspots through other internet providers. It has also partnered with Airtel, (currently India’s largest telecom operator), to launch an additional 20,000 hotspots. Customers can sign up for daily, weekly, or monthly plans that cost about $0.15 a day.

“Express Wi-Fi is designed to complement mobile data offerings by providing a low-cost, high bandwidth alternative for getting online and access apps, download and stream content,” says Munish Seth, regional head for connectivity solutions in the APAC region.

Facebook Logo

Mashable reports that India is the fastest growing market for Facebook. As of last month, Facebook’s marquee platform had 184 million monthly active users in the country, 50 percent of which return to the site every day. The company’s instant messaging and voice calling app WhatsApp also has over 200 million monthly active users in India. 

May 13, 2017   No Comments