Feeling positive about the government’s Make in India initiative, French engineering and transport company Alstom of France will double its business in the country to almost $1billion in the next three years.
“We love doing business in India. We are finding good business environment in India. We are looking at doubling the order book in the next three to four years,” Alstom (Transport) President Henri Poupart-Lafarge told The Economic Times. Alstom will bid for projects in the urban transport sector which is expected to witness rapid growth and it will hire about 250 engineers every year for the next four years depending on the growth in business, he added.
The company is expanding its manufacturing facility in Chennai and opening a new factory for building traction systems in Coimbatore this year – both these cities are located in the south eastern state of Tamil Nadu. It says it will also supply the German market from India.
Alstom notes that India is the only country where it has a complete supply chain from design to manufacturing sourced locally, and that it expects growth from the dedicated freight corridor, the largest railway infrastructure project currently in the country creating a freight quadrilateral across India.
In India, the company runs the Train Information Systems for the Delhi, Bangalore, Jaipur and Kochi local train systems, and it has provided the initial coaches and the technology for the LHB (lightweight all-metal) coaches used on the country’s high speed Rajdhani and Shatabdi trains.
June 18, 2015 No Comments
In the latest example of a commitment to the ‘Make in India’ initiative, Aequs Automotive, headquartered in Bangalore, announced the inauguration of its new 100% export-oriented automotive manufacturing facility in Belagavi. Located in the state of Karnataka, Belagavi is India’s first precision engineering special economic zone.
The 27,000 square feet facility will manufacture engine, transmission and hydraulic components for passenger and commercial vehicles for export to Aequs customers such as Jacobs Vehicle Systems, Bosch Group, Danaher Group, and Eaton Corporation.
Rajeev Kaul, Group CFO and Managing Director, India of Aequs said, “The launch of this new manufacturing facility and our planned investment of an additional $5 million to upgrade the facility over the next two to three years reflect our confidence in India’s ascension as a major automotive manufacturing hub and in our ability to serve the needs of our global customers.”
June 10, 2015 No Comments
Internet Multinational Companies are growing fast in India. Last month, Google announced the setting up of its largest campus outside the U.S., in Hyderabad, India. The 2 million square feet facility — the first company owned premises in Asia — is expected to house 13,000 employees when it’s ready in 2019. Google started its India office with five people and now has more than 2,000 staff across Mumbai, Gurgaon, Hyderabad, and Bangalore.
“India is very important now from twin perspectives: talent and market. We did our Android One global launch in India (in 2014) besides launching other products,” says Rajan Anandan, managing director, Google India.
The growing internet user base is the most important reason for internet companies to expand in India’s market. Television reaches 600 million people. The internet has 300 million users. By 2020, Google expects 600 million online users with online videos being accessed by 500 million people. “It will be a different story then, not only for Google but for all companies,” says Anandan. “Growth is a function of how fast GDP grows. If GDP is 6% the market for internet companies could grow by 12%,” he adds.
Amazon which has been in India since 2004, announced setting up its 11th and largest fulfillment center in India on the outskirts of Hyderabad. “We are planting seeds for the future. India has been mentioned in the shareholder letter by Jeff (Jeff Bezos, founder-CEO, Amazon) and that’s big,” says Amit Agarwal, vice president & country manager, Amazon India. Last year, when Bezos was here, he also announced a $2 billion investment push in India.
The Economic Times reports that in 2013 Amazon entered India as a marketplace, and now boasts of a catalog of 22 million products with India being its fastest market to do $1 billion in sales. Amazon operates all its businesses in India: the marketplace Amazon.in, B2B business, Kindle devices and e-book store, and Amazon Web Services, the cloud offering.
June 5, 2015 No Comments
Speaking on Stem Cell Awareness Day, lead researcher, Polani B. Seshagiri said that researchers at the Indian Institute of Science, Bangalore, have cultivated cardiac cells from stem cells, and that the cardiac cells so developed exhibited properties and functions identical to the original cardiac cell.
Nazeer Ahmed, deputy drug controller of the state of Karnataka, said that the state health authorities are in the process of developing a regulatory framework to nurture stem cell research.
May 28, 2015 No Comments
Minnesota-based Stratasys, the manufacturer of 3D printers and 3D production systems for office-based rapid prototyping and direct digital manufacturing solutions, is setting up shop in India. The company inaugurated its first 3D Printing Experience Centre in Bangalore, where its range of professional 3D printers have been displayed.
Since the past ten years Stratasys has sold its products in India through its dealers, and after seeing over 60 percent year-on-year growth in the India business it decided to set up its direct presence.
“India is already one of the fastest-growing markets for us and we expect to see over 50 per cent year-on-year growth in the country for at least the next few years,” Omer Krieger, general manager, Asia Pacific and Japan, at Stratasys, told The Economic Times. Currently, Stratasys sells only its professional range of printers that cost between $10,000 and $600,000 each. Krieger said the company is also planning to bring its consumer printing brand MakerBot to India, which has products starting from $1,375.
May 8, 2015 No Comments