Category — Foreign Companies in India
In an interview with MoneyControl over Amazon’s India strategy to counter a possible merger between India’s largest e-commerce company Flipkart, and its rival Snapdeal, Amazon’s India chief Amit Agarwal said, “… no matter what happens, even after 20 years, customers will want great selection, great product and fast delivery. So I am going to keep my focus on that… our strategy 20 years later in India will be the same.”
Moneycontrol says that the Indian e-commerce sector is undergoing a phase of consolidation. Last year, Tiger Global-backed Flipkart acquired fashion e-tailer Jabong and is currently in talks to acquire Snapdeal. Earlier this month, it raised $1.4 billion from eBay Inc, Microsoft and Tencent. As part of the deal, eBay’s India business was merged with Flipkart’s.
Amazon has been able to grow its market share in India significantly since the time it started four years ago. In 2016, it pushed Snapdeal to the third position to become the second-largest e-commerce firm in India. Currently, its business is very close to Flipkart’s.
April 21, 2017 No Comments
ICT Service Management Solutions, owned by Taiwan’s Wistron Corporation (Apple’s original equipment manufacturer) will manufacture the iPhone SE at its factory located in Yeshwanthpur, a suburb of Bangalore.
Forbes reports that Wistron obtained an official certification from the Bureau of Indian Standards for Model A1723, which is the 4-inch iPhone SE with a small screen. “With its great screen with brightness and colors, it is an ideal phone for those who are using Apple for the first time. It will go well with Indian buyers,” said Amit Misra, an IT analyst from Bangalore. ”
With aim of getting a significant share in the India market, Apple discounted the iPhone SE to Rs. 19,999 or $310.
April 21, 2017 No Comments
With 31 percent of the surveyed respondents being more optimistic on the economic outlook over the next three years, India has jumped one spot to rank 8th in the 2017 AT Kearney Foreign Direct Investment (FDI) Confidence Index.
Vikas Kaushal, partner and head of India at U.K.-based AT Kearney said, “Investors see India as a vast and diverse up-and-coming market with plans to increase investments there over the near to medium term. Reform efforts by the current government have improved the country’s investment environment. India’s vast domestic market is an added attraction for foreign companies. Investors are looking at India’s phenomenal economic performance as a key selling point. It is forecast to be the fastest-growing major economy in the world in the coming years, which should provide a variety of investment opportunities to global firms.”
Business Standard reports that according to Kearney, 70 percent of the respondents plan to maintain or increase their FDI in India in the coming years. The government will eliminate the need for FDI approvals in sectors where licenses are also required, such as defense, telecommunications and broadcasting.
April 20, 2017 No Comments
At a joint news conference in New Delhi with visiting Australian Prime Minister Malcolm Turnbull, and Prime Minister Narendra Modi, Turnbull said Australia was looking forward to the first export of Australian uranium to India as soon as possible. “We have worked closely with India to meet our respective requirements for the provision of fuel for India’s civil nuclear program,” he said. “Now we are working with India to secure timely conclusion of a quality Regional Comprehensive Economic Partnership, which would provide a significant boost to regional confidence,” he added.
Indian Prime Minister Modi said that cooperation between the two countries in the energy sector, including renewable energy, was on the upswing.
The two leaders inaugurated a research center on nano and bio technology. At the event, Modi said that the Australia-India Research Fund of nearly $100 million “has focused on collaborative research projects in the areas such as nano-technology, smart cities, infrastructure, agriculture and disease control.”
April 20, 2017 No Comments
A startup, Saathi (meaning ‘companion’ in Hindi), founded by three graduates from the Massachusetts Institute of Technology and a graduate from Nirma University in India, is hoping to improve access and waste disposal of sanitary pads for women in rural India.
275,000,000 women in India cannot access pads because they are too expensive (also scarcely available, and difficult to discard). “Only 16 percent of women have access to sanitary pads in India,” Kristin Kagetsu, co-founder and CEO of the company told NBC News during an interview at the company’s production facility, located outside Ahmedabad, in India’s western state of Gujarat.
The sanitary napkins are eco-friendly: they are made from locally-sourced banana fiber, which is highly absorbent and biodegradable; it doesn’t have to be burned when disposed, thus helping to reduce greenhouse gas emissions.
Saathi is one of the finalists in the Health and Wearable Technologies category at SXSW, Austin, Texas. It is looking funding this project, and according to its website, $12,737 have been raised toward a target of $20,000.
April 19, 2017 No Comments