Ola Claims 75% Market Share of India’s Urban Taxi Services

India’s Bangalore-based transport aggregator Ola said that because of its India-specific innovations such as offline booking and local language apps, the company “effectively holds over three-fourth market share”, reports the Economic Times. COO Pranay Jivrajka told the Press Trust of India that the focus of a business needs to be on localization in building customized products, and replicating existing business models and innovations will not work for the market here.
Ola Logo

“We are using technology to create ‘Made for India’ solutions, both on the supply and demand side, right from offline bookings for customers and 2G optimization to local language apps. Several introductions by our competition such as the ride later option, and the cash payment option have already been pioneered months ago by Ola’s technology team,” Jivrajka added.

Backed by investment from Japan’s SoftBank, Ola is a credible  competitor in India  to California-based Uber.

January 2, 2017   No Comments

India’s Property Market May Flourish in 2017

Word on the street was that India’s November 2016 demonetization of high value currency notes would have a significant impact on the real estate price; here is what the experts say:

Forbes reports that 2017 will be a bumper year for India’s real estate market as well as for its economy. The country tops the list of preferred destinations for investment in property by institutional investors.

High Rise Apartments

The middle class in India is the driver of the surge in domestic consumption, has very little household debt and is looking for suitable housing. The finance industry is supportive and India’s central bank has repeatedly cut interest rates. All these factors are promising trends for investors in the realty market, and for 2017 Bangalore and Mumbai are the top-ranked cities for both investment and development, according to the 2017 version of Emerging Trends in Real Estate Asia Pacific, put out by Washington D.C.-based Urban Land Institute.

India is seeing a boom in business-park development, and suburban development is creating new business and residential neighborhoods. Blackstone of New York City, the Toronto-based Brookfield Asset Management, privately-held Chinese conglomerate Dalian Wanda are seriously interested in property assets in India.

Anuj Puri, chairman and country head of Jones Lang LaSalle India says: 2016 saw the biggest changes in decades, especially on the policy front – the Goods and Services Tax and the Real Estate Regulatory Authority bill cleared hurdles, and are on their way to implementation. REITs will help smaller investors to invest in Grade-A commercial real estate across India. India’s first REIT listing will happen in 2017.

India’s Tier-I cities moved up to the 36th rank in JLL’s biannual Global Real Estate Transparency Index in 2016 due to improvements in structural reforms and liberalization of the foreign direct investment policy. India came 4th in developing Asia in terms of Foreign Direct Investment inflows per the World Investment Report 2016 by the United Nations Conference for Trade and Development. Thanks to a proactive government keen on improving India’s ranking on different indices and strengthening public institutions, the country is poised to become a modern economy.

As the real estate market achieves higher transparency, the mismatch of demand/supply can offer opportunities for developers and investors alike. Indian real estate is on its way to becoming a consolidated and moderately efficient  sector over the next few years.

 

December 30, 2016   No Comments

AMD to Grow R&D Team in India

In an interview with India’s Economic Times, Sunnyvale, California-based semiconductor company AMD‘s chief technology officer Mark Papermaster discussed the contribution of the company’s R&D facilities in India. These R&D centers are located in Hyderabad and Bangalore, housing over 1,000 of its 6,000-strong global tech team.

Mark Papermaster CTO of AMD

Mark Papermaster CTO of AMD

Excerpts of the interview:

On the role of the India centers
Papermaster: India is a key element of our development team and every aspect of product development. The AMD strategy is focused on three pillars: gaming and immersive apps, which is Virtual Reality and Augmented Reality, compute – which is data centers, high-performance computing and high performance graphics – and semi-custom solutions, where we work with partners on products like the Xbox 1or PS4. The India design center does a lot of key software and IP development with gaming and graphics, chip design and software as well as to create tailored solutions.

On the growth of technologies such as Virtual Reality

Papermaster: Just like in consumer goods, there are tech cycles. Every 12-18 months, we will see new product revisions … it could be better screens or a wireless headset. As it becomes more affordable, more content is likely to be created and apps will take off. All it takes is one killer app for something to become popular.

On areas of focus in the future

Papermaster: There are a couple of areas that we expect to be high growth. One is compute: AMD products are very well suited for machine learning applications as they need CPU and GPU. Immersive computing is another area. It’s a nascent industry and will see significant growth for AMD to develop and support products.

 

December 29, 2016   No Comments

India’s Britannia Industries to Go Global

Bakery and dairy product maker Britannia Industries headquartered in Bangalore, India, is planning to expand its presence in overseas markets, reports moneycontrol.

“It’s our vision to make Britannia not just an Indian food company but a global food company. We want our footprint across the globe and have made some move across that direction and a lot more would be coming in future,” said managing director Varun Berry.

Britannia Logo

The company aims to double its revenue of $1.2 billion, for FY 2015-2016, in the next four to five years. Britannia products are currently available in 70 countries across the globe but its manufacturing activities are located in India and the Middle East only. The company is setting up an additional manufacturing plant in Gujarat‘s Export Zone.

In November, Britannia inaugurated its new R&D center at Bangalore, in which it has invested $33 million.

December 29, 2016   No Comments

Panasonic To Establish an India R&D Center

Panasonic Corporation, the Japanese manufacturer of consumer electronics & home appliances, will set up an India R&D center consisting of two technical divisions – a design division of appliances (focusing on India) and an offshore development division.

The design division will focus on product development processes for India and its neighboring countries, while its offshore development project will be in partnership with Tata Elxsi, at Bangalore. Through this division, it will develop technologies for artificial intelligence and robotics applicable to appliance products not only for India, but also for Japan and global markets, reports Business Standard.

Panasonic Corporation, R&D

“Globally, India has been identified as one of the strategic regions for growth. The prospering economy, increasing buying power and a conducive environment for manufacturing has transformed India into a growth magnet for the world, said Tetsuro Homma, president of appliance company and senior managing director, Panasonic Corporation.

 

December 26, 2016   No Comments