Global Finance Firms to Add Office Space in India

Even as they downsize their retail operations worldwide, Barclays Plc, Credit Suisse Group AG, Standard Chartered Plc and Citigroup Inc., are among global financial firms looking to add office space in India.

Barclay Technologies Center India Ltd, an offshore unit of the London-based financial services firm, is planning to add 100,000 sq. ft in Pune, 90 miles east of Mumbai, where it currently operates. At Panchshil Realty Ltd’s IT parks in Pune, approximately 35% of the total space is occupied by the captive technology businesses of Deutsche Bank AG, MasterCard Inc. and Credit Suisse, while Swiss bank UBS leased around 400,000 sq. ft at K Raheja Corp.’s IT park at Navi Mumbai.

Inside an Office

“Captive banking, financial services and insurance clients, which were outsourcing earlier, prefer to do the work themselves, given the cost optimization. Instead of paying third-party operators, it’s better to have your own offshore unit,” said Gautam Saraf, managing director (Mumbai region), of global property consultant Cushman and Wakefield.

Mike Holland, chief executive officer of Embassy Office Parks, Bangalore said, “The BFSI industry is a strong demand driver, especially in Pune and Bangalore. We are also doing transactions in Chennai and Hyderabad in that segment.”

March 22, 2017   No Comments

Qualcomm Expands its Design Initiatives in India

After successfully completing the first edition of the Qualcomm Design in India Challenge, the company announced an investment of $8.5 million for its second edition, where the challenge will focus on rural technology, biometric devices, payment terminals, agriculture technology, medical technology, and smart infrastructure.

“Qualcomm Design in India Challenge is one of the most successful initiatives by Qualcomm to nurture some of the talented startups in India. After seeing the overpowering response during the 2016 edition, we decided to go ahead with a second year, as well as expanding the number of participants Qualcomm nurtures through this program from 10 to 16 participants in 2017,” announced Qualcomm Technologies‘ senior vice president and president of Asia Pacific and India Jim Cathey in his statement.

Innovation

The company plans to support mobile and IoT vendors in India by providing advanced cameras, audio, and RF designs at its new Innovation Lab to be set up in the southern city of Hyderabad, as well as at its current Innovation Lab in Bangalore which will be expanded to support the initiative, reports the Economic Times.

February 8, 2017   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

Data Migration Resources Sets Up Product Development Center in India

Mission, Kansas-based Data Migration Resources (DMR), a company that deals in data conversion, data quality and data governance, inaugurated its product development center in the southern city of Hyderabad, India. Managing Director Vijay Garud said, “This is a leased facility and after two to three years, we might consider building our own office”

Data Management

The five-year-old, privately-held DMR helps companies migrate data when they implement SAP. Going ahead, DMR will also build competencies in data governance (which is mainly about ensuring data quality). The company has around 150 employees globally, reports the Times of India.

December 29, 2016   No Comments

Microsoft Collaborates with India’s Prasad Eye Institute

Microsoft India, and the L. V. Prasad Eye Institute, a not-for-profit comprehensive eye care institution in Hyderabad, India, have launched the Microsoft Intelligent Network for Eyecare (MINE), a machine learning network that will help doctors in India fight eye disease and reduce the risk of avoidable blindness.

Silicon ANGLE reports that Microsoft’s new AI network combines eye care data and research from a consortium of eye health institutes from around the world, including Bascom Palmer at the University of Miami, Flaum Eye Institute at the University of Rochester, the Federal University of Sao Paulo and the Brien Holden Vision Institute, Australia. Some of this data includes information specific to eye health in children, such as the rate of change of myopia in children and the conditions that impact children’s eyesight. Microsoft also hopes that MINE will be able to generate predictive models for eye surgery, allowing doctors to personalize treatment for each patient to maximize the chance for success.

L.V. Prasad eye Institute

Globally, 285 million people are visually impaired; 55 million of them live in India. “At L.V. Prasad Eye Institute, we have been using Microsoft Azure Machine Learning and Power BI to drive clinical interventions and improve patient outcomes,” said Dr. G.N.Rao, the eye institute’s founder-chair.

December 20, 2016   No Comments