Amazon Considers Inorganic Growth in India

After buying Whole Foods in the United States, Amazon is targeting groceres in India. Bangalore, India-based BigBasket, a five-year-old e-grocer, has signed a 60 day exclusivity agreement with Amazon India  during which time Amazon will conduct a due diligence on the company’s assets with a view to acquisition

Valued at $450 million since its last round of funding, BigBasket’s asking price of  $700 million stalled the transaction, reports ET Retail. A final value will be decided once the inquiry is completed successfully. It is uncertain whether Amazon will go ahead with the final deal and so BigBasket is also on the lookout for fresh capital.

BigBasket Logo

Acquiring BigBasket, which has created a supply chain and back end infrastructure, will add to Amazon’s e-commerce growth; it will also enable Amazon’s entry into the hugely untapped grocery and food market in India. Technopak pegs the grocery and food market in India at $400 billion of which organized retail contributes $12 billion to the industry, while online e-grocers have a 4% share, its report said, outlining viable prospects for the players.

June 21, 2017   No Comments

Intel Invests $178 Million for R&D in India

Santa Clara, CA-based Intel Corporation will invest $178 million in India to set up a new research and development center in Bangalore said Intel India’s general manager Nivruti Rai at a news conference. This fresh investment is in addition to the $4.3 billion  Intel invested in the country over the last 15 years since it set up its largest design center outside the U.S.

Intel Corporation logo

 Spread over a 44-acre campus, the new center will have a computer software development, hardware design services and verification facility. “The nine storied building with 620,000 sq.ft. of office space will be completed in the next nine months,” said Rai. “The new facility will enable us to continue our momentum in doing cutting-edge innovation and design work from India,” he added.

The company’s Indian subsidiary has about 7,000 engineers to design and power semiconductor chips for its global customers, including original equipment manufacturers of computers, smart phones and other electronic devices, reports ET Telecom.

June 19, 2017   No Comments

Shell Inaugurates Technology Center in India

British-Dutch oil and gas multinational Shell opened a new major technology hub in Bangalore — a 52 acre, custom-built facility – that can house up to 1,500 scientists and engineers, who will  work on worldwide innovative energy projects.

This third center, which is similar to those in Amsterdam and Houston, will have specialists who will work closely with experts from external industrial partners, universities, and institutes. In India, chemistry and catalysis research is done in collaboration with the Indian Institutes of Technology.

“Collaboration is essential to meet our biggest challenge: timely development and deployment of the best and affordable energy solutions, for today and for the future as the world transitions to a low carbon energy system,” said Harry Brekelmans, Shell’s Projects & Technology Director.

Shell Logo on a canopy

Using its IH2 (waste to fuel) technology, this center will help pioneer efforts to turn forestry, agricultural and city-generated waste into transportation fuels, with a new demonstration plant built at the site, reports the Economic Times.

“The center is slated to play a prominent role in Shell India’s aspiration to custom-build a portfolio of new energy solutions specifically suited to India’s energy challenges,” Nitin Prasad, Chairman of Shell Companies in India, said.

June 8, 2017   No Comments

Panasonic Announces its First India Innovation Center

Osaka, Japan-based Panasonic will jointly work with India’s Tata Consultancy Services (TCS) at its Center of Excellence – a part of the India Innovation Center  – that it set up at TCS’s campus in Bangalore.

Both companies will drive innovation and create new business opportunities in the Internet of Things technology, Mobility, and Artificial Intelligence ), reports the Economic Times.

“The key focus of this enterprise will be to bring together Panasonic’s research and development efforts under one cohesive umbrella. This will also strengthen India’s position as a critical region for the corporation to lead innovations in the ISAMEA (India, South Asia, Middle East and Africa) market. It will work as a hub that will be central to developing new age technology driven range of products that will emerge from India for both domestic and global consumption,” said Daizo Ito, managing executive officer, and regional head for ISAMEA.

Panasonic Inaugurates India Innovation Center

The platform will bring the best minds from the two countries together to develop transformative solutions on Panasonic’s five key focus areas – Connected/ Community, Mobility, Energy, Industrial and Finance Solutions, said Manish Sharma, president and CEO, Panasonic India and South Asia.

 

May 31, 2017   No Comments

“Co-Working” Catches on in India

Co-working, a concept where individuals or startups share a common workplace environment, is slowly catching on across prime property markets in India. Across the country, co-working space of 0.73 million sq ft was tenanted last year.

“Though still nascent, this category could prove to be a disrupter as bigger co-working players such as WeWork enter India and more such facilities pop up across cities,” said Ramesh Nair, CEO of JLL India.

With 9,600 seats available at co-working facilities across the country, Mumbai records the highest absorption nationally, followed by Delhi-NCR, Kolkata, Bangalore, Chennai, Pune and Hyderabad, reports the Economic Times.

Inside an Office

Sumit Lakhani, CMO at Awfis Space Solutions said, “Companies can make savings of up to 20-30% by working in a co-working space.” The firm’s clientele includes small and medium-sized enterprises, start-ups, freelance professionals, consultants, and corporations.

May 30, 2017   No Comments