Category — Foreign Companies in India

GE to distribute Indian Startup’s Breast Cancer Device

Recognizing that women in 90% of the developing world don’t have access to early detection of breast cancer, Mumbai-based startup UE Lifesciences developed iBreastExam (iBE), a handheld, mobile connected, and completely wireless device which can detect tumor tissues as small as 1/8  of an inch (3-5 mm) while emitting no harmful radiation. The patented tactile  technology using a piezoelectric sensor array was invented by scientists and doctors at Drexel University in Philadelphia. The device is US FDA cleared and CE marked.

With $1.3 million in grant funding from the Pennsylvania Department of Health, University City Science Center, Drexel’s Coulter Program and Unitus Seed Fund, iBE was developed by a team of  twenty scientists, engineers, and clinicians.

UE LifeSciences  announced a distribution partnership with GE Healthcare to commercialize iBE in  twenty-five countries across South-Asia, South-East Asia and Africa. Commenting on the partnership, Terri Bresenham, president and CEO, GE Healthcare Sustainable Healthcare Solutions said, “We are delighted to welcome UE Lifesciences as partner in our efforts to improving healthcare outcomes for the world’s developing economies.”

UE Lifescience Partners with GE Healthcare

February 18, 2018   No Comments

India’s Aakar Innovations Creates Compostable Sanitary Pads

Twelve percent of India’s 300 million menstruating women use sanitary napkins during their menstrual cycle. One billion commercially produced disposable sanitary napkins made by companies such as Procter & Gamble and Johnson & Johnson end up in urban sewers, landfills, as well as in rural fields and water bodies in India every month.

Because of the adverse environment impact from commercially produced pads, social enterprises and public health organizations are beginning to introduce environment friendly, biodegradable sanitary pads. Headquartered in Navi Mumbai, a city twenty miles north of Mumbai, Aakar Innovations has created Anandi, the first fully compostable pad in India.

Making Anandi Pads

Making Anandi Pads

Made from sterilized agricultural waste and other natural fibers, Anandi pads are sold in rural areas and in urban slums. A pack of eight biodegradable pads is priced at 63 cents says Pratik Kumar, director of Aakar Social Ventures. “We pioneered the making and selling of fully compostable pads in 2013 and today we have 30 manufacturing units all over the country and are setting up manufacturing plants in Kenya, Tanzania, Uganda, South Africa, Rwanda, Sierra Leone, and Ethiopia,” added Kumar.

February 17, 2018   No Comments

Mondelez, Colgate Upbeat about India in 2018

Reporting significant sales growth in the latest quarter, global companies such as Mondelez, ColgatePalmolive and Unilever are upbeat about opportunities in India and said the country remains a bright spot. Several companies posted a double digit year-on-year volume growth for the December quarter.

“India is very strong, we had a 27 percent growth in Q4, but that’s of course lapping the demonetization. Still, we grew double-digits without that, and overall for the year India is up 12%,” Brian Gladden, CFO at Mondelez, said in an earnings call. “We see a growing middle class, we still have a low per capita consumption of chocolates, and the GDP growth rates are pretty strong. So we are overall very bullish on India,” he added.

Toblerone by Mondelez

Companies expect a volume boost from price-cuts that started in July last year and were further accelerated after the GST Council dropped tax rates on 200 products, including chocolates, toothpaste, shampoo, washing powder, and shaving creams, to 18 percent from 28 percent.

February 17, 2018   No Comments

Nestle India’s Revenue Crosses $1 Billion

Nestle India announced that it had crossed $1 billion  in revenue in 2017, and that the company’s net profit grew 22.3 percent. For the quarter ended December 31, 2017, total sales grew 10.9 percent and the company posted a 60% greater net profit compared to the corresponding quarter of the previous fiscal.

Suresh Narayanan, chairman and managing director, Nestle India, said, “It is extremely pleasing that we ended year 2017 on a strong note  in revenue, in a year where we had to adapt to significant changes in the external environment,” refering toe new goods and services tax.

For Valentine’s Day, the company  introduced a new two finger Kit Kat Strawberry Duo — a combination of chocolate and strawberry — priced at 15 cents.

Valentine Day Kit Kat

February 17, 2018   No Comments

P&G Champions Gender Equality in India

Cincinnati, Ohio-based Procter & Gamble announced that it will source as much as $30 million from women-owned businesses across India in the coming three years. The move aligns the company’s global commitment to building greater gender equality with the United Nations’ sustainable development goals.

Working in partnership with WEConnect International in India, a non-profit that allows qualified buyers to connect with women-owned businesses, the companies hopes to  develop capability among women entrepreneurs through training and workshops.

woman entrepreneur

P&G India sub-continent managing director and CEO Al Rajwani said, “The impact of our spending with women-owned businesses helps to stimulate economic growth in communities who are often overlooked, which in turn promotes job creation and further opportunities.”

February 17, 2018   No Comments