A report titled Digital Dynasties: The Rise of Innovation Empires Worldwide by Paris, France-based technology consulting and services firm Capgemini has listed Bangalore, India, as one of the top five most preferred locations for multinational companies that want to set up innovation centers and harness technology talent.
India, which did not figure in the top 10 list in July 2015, took Tokyo’s spot in February 2016 to stand at fifth place. Globally, 56 innovation centers opened in 20 countries over the past year, and 11 more plan to open soon. Capgemini analysts say that there has been a 29 percent rise in the number of innovation centers in Asia as compared to their previous research.
Quoting from the report:
India has been rising in the ranks of favorite destinations to open innovation centers. Our previous research identified eight innovation centers in India in July 2015. India has since seen eight more innovation centers open their doors. Bangalore has been the most favored city with four new innovation centers. Bangalore is home to several billion-dollar Indian startups such as: Flipkart, InMobi and Mu Sigma, and attracts world-class technology talent and investments. Among the new innovation centers opened here are: Airbus’ BizLab, which intends to bring together startups and Airbus’ internal entrepreneurs; and Visa, whose new technology center in Bangalore will house 1000 developers accelerating development of next generation payment solutions. Global firms are showing interest in other Indian cities as well. For instance, TriMas Corporation – a diversified global manufacturer of engineered and applied products – opened an innovation center in Delhi to focus on driving innovation across its range of packaging solutions, while Puratos, a leading global food ingredient company, launched an innovation center in Mumbai.
July 14, 2016 No Comments
Leicestershire, U.K.-based Electrolube, maker of electro-chemicals, established a new manufacturing facility in Bangalore, offering the advantages of shorter lead times and reliability of supply. Electrolube India has run a successful technical sales operation in the city since 2012, reports EMSNow.
The new factory, which will start operations in August 2016, will have an initial focus on the production of encapsulation resins, conformal coatings and thermal management materials. Electrolube managing director, Ron Jakeman, commented, “India is poised to become one of the world’s prime electronics manufacturing regions. Both export and local markets are booming and demand for specialized services and products, such as those provided by Electrolube, is growing rapidly.”
Electrolube India’s sales manager, Padmanabha Shaktivelu, added, “Electrolube’s business and reputation have grown exponentially since our initial opening in India four years ago. There is enormous potential for growth in India with endless opportunities for Electrolube’s specialty products to help customers find new solutions to old problems. We have also discovered that local manufacturers are keen to enhance their green credentials and we will be investing further in promoting our eco-friendly, aromatic-free conformal coatings and water-based cleaning solutions, as well as the full range of coatings, greases, resins and cleaning products.”
July 11, 2016 No Comments
In an interview with the Times of India, Amit Phadnis, president engineering and India site leader of Cisco, discussed the progress the company’s Globalization Center in Bangalore has made.
Excerpts from the interaction:
On the extent of innovation taking place at Cisco’s R&D center in Bangalore
Phadnis: We have developed 10 products from India since 2010 and have another 10-15 products in the pipeline that are completely engineered out of the country. Each of these globally has at least a $100 million annual run rate.
Out of Cisco’s total product revenue of $36 billion, $13 billion comes from products developed and managed out of India. 10% of Cisco’s patents are filed out of India.
On Cisco’s involvement with the smart cities program in India
We have done deployments in Navi Mumbai and Jaipur. The Jaipur Development Authority will set up a digital infrastructure provided by us to offer citizens amenities including connected transport, interactive kiosks, wireless broadband, safety and security services, traffic management and environmental updates. It will install an urban platform of sensors which allows for the sharing of information.
In Navi Mumbai, such an application is used to create public security and safety infrastructure. Running on a Cisco network, this solution provides live camera updates and alerts so that security breaches are not missed due to human error or oversight.
On the charter ahead for the engineering team
The charter is to take more complex responsibilities for product development. To create a larger ecosystem, we are getting the engineering team closer to the field engineers and sales teams, who really work with customers to understand their problems.
July 6, 2016 No Comments
San Jose, CA-based Cisco Inc., launched its second Global Delivery Center in Pune, 91 miles east of Mumbai, making India the only country in the world where the company will have two global delivery centers, reports the Times of India. The Pune center builds on the success of the Global Delivery Center at Bangalore which also includes a Network Operations Center that allows engineers to proactively monitor and report any detected anomalies in the customer’s network.
The delivery center in Pune will focus on customers embracing digitization including leading Indian and global telcom operators, insurance and finance institutions, as well as consumer goods companies – most of them operating on a global scale. This center plans to double its headcount in the next two years.
“The Pune center plays a key role in our global strategy to execute global advanced services business along with providing services to India,” said Sanjay Pal, Vice President, Advanced Services. Cisco Inc.
He added, “We believe the Pune center will set the global standard in terms of its ability to attract talent, deliver the quality of the services, and achieve customer satisfaction. This center enables Cisco to share its global best practices and cutting-edge technologies with local customers and provide great services for a broader customer base.”
July 2, 2016 No Comments
New York-based JPMorgan Chase & Co. will open three branches in India, even as global competitors HSBC and UBS are scaling back to cut costs and bolster capital. JPMorgan is witnessing an increasing level of cross-border activity among its clients as they capture more business driven by India’s economic growth, Madhav Kalyan, chief executive of the bank’s Indian unit, said.
India’s central bank, the Reserve Bank of India, granted approval to open the outlets in the capital New Delhi, in Devanahalli, Bangalore where the international airport is located, and in Paranur, near Chennai, where the banks will provide existing products and services including cash management, trade finance and foreign-currency payments, The bank already has one branch in Mumbai, which opened in 1994, reports Blomberg.
“We’ve been very careful in selecting these locations,” given Chennai’s status as a manufacturing hub and Bangalore’s standing as an information-technology center, Muhammad Aurangzeb, Asia-Pacific CEO of JPMorgan’s global corporate bank, said in a phone interview. “We have a number of clients in both locations. The target market in our wholesale business is very clear, which is very different from retail,” Aurangzeb added.
July 2, 2016 No Comments