According to the FDi report 2013, three of the BRICS countries namely India, China and Brazil, ended up in the top 5 destination countries for Foreign Direct Investment (FDI) globally in 2012.
Collectively, they attracted 18% of all global FDI projects. Regarding India, is has attracted 30.02% of all the FDI projects from the BRICS countries. The city which attracted the biggest amount of FDI in India, is Bangalore with 15% of total projects between 2003 and 2012.
Moreover, India is expected to attract even more FDI project in the medium to longer term, thanks to reforms such as, passing a new law about land acquisition, allowing more FDI in retailing, airlines and broadcasting.
April 26, 2013 No Comments
Citrix Systems, the Software maker based in California, has chosen Tuebora, a Bangalore-based startup for an investment. The technology provider is the second Indian venture to make it to the Citrix Startup Accelerator in Silicon Valley after Grexit, chosen in 2011.
Tuebora will now have access to Citrix products, partner channel and global customer base. Moreover, it will also acquire a seed capital of $250,000 and get office space in the Valley for the next 18 months. The market for identity and access governance solutions is growing at 30%-40% annually, according to research company Gartner. Tuebora, which has been running pilots for their technology at various companies, found numerous instances of undesired access granted to employees. The company, with headquarters in California now, has already filed three patents for its technology.
April 19, 2013 No Comments
Momentive Performance Materials Holdings of Columbus, Ohio, a provider of specialty chemicals and materials to Original Equipment Manufacturers in the automotive, paints and agriculture sectors, has opened of its research and development center in Bangalore. The location will work on developing new technologies and products for both global and regional markets in India, Africa and Middle East.
The R&D Centre is being operated by its subsidiaries, Momentive Performance Materials and Momentive Specialty Chemicals in the Electronic City region of Bangalore. The company has invested $4.5 million. Bangalore will would be the business headquarters for India, Middle East and Africa (IMEA) region and employment there will rise to 100. Presently, 37 engineers and scientists work there, according to V.P. Nalian, Momentive’s Vice President & General Manager.
We will work on the global technology platforms and product development for new and existing applications in diverse industry segments, such as personal care, energy, healthcare, electronics, automotive, and construction. In addition, the facility will house its commercial, business support, business process and information technology functions.
Presently, Momentive has a $20 million factory in Chennai.
November 23, 2012 No Comments
Missisauga, Ontario based Imax opened a new theater in Bangalore, India yesterday with some high-profile help from Canadian Prime Minister Stephen Harper and its own high hopes for success in the Indian market.
Harper gave a ringing endorsement of the company’s large-screen experience, which immerses filmgoers in the action. “If there is a Bollywood wedding filmed in Imax, you’re going to feel like you are right there in the middle of the dancers. You’re going to love it,” Harper told a crowd of guests gathered for the official opening.
While the James Bond thriller Skyfall was showing when Harper visited, Imax has contracted to do its first Bollywood production, Dhoom:3. Imax now has four screens in India and plans to open 13 more by the end of 2013. Tthe company thinks the Indian market, with its population of 1.2 billion, could support 70 Imax theatres in all, said Preetham Daniel, Imax’s director of sales for India and Southeast Asia.
November 10, 2012 No Comments
According to the Times of India, Bangalore hires the highest proportion of returning overseas Indians (NRIs or non-resident Indian as they are still oxymoronically called) in its workforce. It is especially relevant in the IT, pharmacy and healthcare sectors, where they prefer to hire candidates with international exposure, as told by Rajesh Kumar, CEO of a global recruitment consulting firm, MyHiringClub.
Companies that are especially looking into expanding globally need to understand global practices and specific markets. Studies conducted under MyHiringClub indicate NRI professionals accounted for 21% of total lateral hiring in India. The IT & ITES sector has seen the number of NRI hiring at 23%, pharmacy and healthcare accounted for 21%, FMCG 18% and infrastructure 11%.
October 26, 2012 No Comments