Category — Market Entry
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
Here are three stories of entrepreneurs that went east to India, survived, and succeeded:
Valerie Wagoner started her company ZipDial, which was acquired last month by Twitter, based on her insight of the potential of missed calls in the bandwidth deprived Indian mobile market.
In 2013, Greg Moran and David Back left the U.S. to work in India, but ended up starting their own company ZoomCar, a self-driving (ie no chaffeur provided) car rental start-up. What started with just seven vehicles is now a business of 250 cars in the cities of Bangalore and Pune. They have plans to expand to 10 more cities this year with the recent funding they received from Sequoia. “I like the energy levels of the people here. Besides, starting business in India is becoming an easy process,” says Moran.
Eleven years ago, in 2004, Sean Blagsvedt came to India to head Program Management and Advanced Prototyping for Microsoft Research. He had no plans of settling down in India, but within months he quit his high-paying job, married an Indian woman, and set up a company to solve the problems of unskilled and blue-collar jobs in India. Blagsvedt has no regrets. He considers the move to become an entrepreneur in India one of his best decisions. “India is largely an under-served market, but has huge potential when it comes to adoption of technology. We are trying to solve some socioeconomic problems with the help of digital technology,” he says. His venture, Babajob, connects job seekers such as security guards, drivers, maids and cooks with potential employers.
With the start-up ecosystem maturing in India, the numbers of expat entrepreneurs are so significant that it has led to the formation of an Expat Entrepreneurs Circle, an exclusive organization of foreign entrepreneurs and non-resident Indians doing business in India.
February 12, 2015 No Comments