iPhone Assembler to Expand Operations in India

With Apple‘s earnings in India doubling year-on-year, Taiwanese manufacturer Wistron, primary iPhone assembler in India, is scouting for 100 acres of land in Bangalore to expand its facilities.

Though Apple is currently a minor player in India, its potential is huge. CEO Tim Cook said on the earnings call in early November that there was much work to be done to fulfill this potential.

He said he’s confident the company can gain ground, but it will take work on many fronts.”It’s building stores. It’s building channels. It’s building markets. It’s building the developer ecosystem,” he said. “It’s having the right product lineup for the market. And I feel like we’re making good progress there and are gaining understanding of the market, but we still have a long way to go.”

Picture of PM Modi and Tim Cook

The India government’s Department of Industrial Policy & Promotion wrote to the firm saying it was “actively involved in resolving issues raised by Apple” and the various key departments in charge of vetting these concessions are “positively inclined to the proposal,” according to a document from an official to Apple that was reviewed by Bloomberg News.

November 12, 2017   No Comments

Minister Gadkari Highlights Aggressive Infrastructure Expansion

Speaking at a session on Opportunity in Infrastructure, Logistics Technology and Equipment in New Delhi this November, the Federal Minister for Road Transport & Highways, Shipping, Water Resources, Nitin Gadkari, said that the  federal government is committed to providing transport and logistics infrastructure in the country.

Gadkari noted that the logistics cost in India was higher than China’s. “We are trying to bring this cost down which will make Indian goods more competitive in the international market,” Gadkari said, adding that the government was prioritizing coastal transport and inland waterways which are priced comparatively lower than road or rail tariffs.

Nitin Gadkari

The Press Information Bureau quoted Gadkari who recounted:

  • Construction work for Logistics Parks  in  Chennai, Bangalore, Hyderabad, Vijayawada, Surat and Guwahati has begun.
  • Construction of National Highways has gathered considerable momentum. Three years ago the country had just 59,652 miles of highways, but this has now grown to nearly 105,633 miles, and will soon reach a length of 124,274 miles.
  • 44 Economic Corridors and 24 Multi Modal Logistics Parks have been planned under the Government’s flagship program Bharatmala. These will facilitate faster movement of farm produce to food processing centers and to markets.  14 Coastal Economic Zones to help fishermen and the fishing industry have been planned under the Sagarmala program. Two mega food processing parks for processing, grading and packaging of fish will also be developed.
  • 111 waterways are being developed as National Waterways.  The rivers Ganga, Brahmaputra, and Barak are already under development. Water transport will reduce logistics costs.
  • The efficiency of the 12 major ports has been growing rapidly, and they have been making profits consistently over the last three years. Dry ports are being developed at Jalna, Vidarbha and Nashik to begin with. The availability of ports will give a boost to movement of goods.

 

November 8, 2017   No Comments

Cargill to Invest Additional $240 Million in India

Minnesota-based Cargill said it will invest $240 million in India over the next five years in its business of edible oil, cocoa and chocolates, starches and sweeteners, and animal nutrition. This announcement was made at the World Food India Conference held in Delhi in early November by Cargill Asia Pacific CEO  Peter Van Deursen, at a MoU signing ceremony in the presence of Harsimrat Kaur Badal, India’s minister for Food Processing.

Cargill Logo

Van Deursen said, “India is an important market for us and this increased investment demonstrates our commitment to the country and the development of its agriculture and food processing industry,” reports BusinessLine.

The company employs more than 3,500 employees in India. Last year, Cargill inaugurated its first wet corn milling plant in India, set up with an investment of $100 million. The company also inaugurated a new dairy feed mill in Bathinda, Punjab, and its largest business services center in Bangalore.

November 7, 2017   No Comments

WeWork Expands to India

Miguel McKelvey, co-founder and chief creative officer of the $20 billion New York-based collaborative workspace startup WeWork, discussed his business in India with Forbes’ India staff Anshul Dhamija.

McKelvey said that in India WeWork had entered into a partnership with the Embassy Group. They launched operations in the beginning of this year and had close to 350,000 square feet of shared workspaces in Bangalore and Mumbai. “India’s probably the biggest market for us,” says McKelvey.

The concept of sharing a workspace with diverse set of professionals and enterprises is new in India and is catching on. WeWork gives access to discounted health care services, payment processing for their companies, IT support, education and training, to all its members.

When asked to comment on what opportunities India offers, McKelvey said: When we first came here, or thought about coming here, it certainly felt a bit overwhelming because it’s such a huge place and the culture is so diverse, varying from city to city and state to state. So having a partner is essential in understanding the local culture and also gives us credibility in the market. India’s probably the biggest market for us. While we are super excited to be in Japan, Australia and Europe, we are talking about hundreds of millions of people here in India. I think this is a place that, in the upcoming years, will play a major part in the way the world economy develops. For us to be here now is an incredible opportunity.

Inside an Office

October 29, 2017   No Comments

India’s Zoomcar to Launch Bicycle Sharing Service

Ford-backed car rental service Zoomcar based in Bangalore, India, is set to start a bicycle sharing business. Founder, American  expatriate  Greg Moran, said that the company will have its own fleet of cycles and will start the service in Bangalore, Chennai and Kolkata.

“We have observed a huge market gap for trips shorter than 5 kilometers (3 miles)  and we believe that the cycle is best positioned to serve these cases. We are starting with a fleet of 500 cycles but we will take it to 10,000 within this year. We have worked heavily on the technology aspect of this business,” said Moran.

Bicycles

Zoomcar partners with a number of locations, such as retail stores and other small businesses in each city, to keep and manage the cycles. When a user requests for a cycle on the app, the nearest location will show up. The user can pick up a cycle from the location, and after using it, can leave it pretty much anywhere. The partner that is nearest has to arrange to pick up the cycle. The cycles will have GPS to indicate its location, reports the Economic Times.

October 16, 2017   No Comments