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 Food Safety Regulator Eases Business Policies

To facilitate ease of doing business, state-owned Food Safety and Standards Authority of India (FSSAI) put in place procedures to simplify licensing and registration processes:

  • It developed an online Food Licensing and Registration System in all states, (except in Nagaland) as also at airports, seaports and in India’s railway systems.
  • Working in collaboration with the national Center for Good Governance, FSSAI developed forms  that are now much simpler than before.
  • Inspection of premises before issuing licenses has been waived by the authority.
  • FSSAI will strengthen its customer care cell and make it available throughout the day for consumer complaints, food import clearance issues, food registration and licensing issues, and any other related queries.
  • FSSAI approved a policy to accept Codex standards where there are no government guidelines in place, while concurrently initiating the exercise of aligning its standards with Codex.
  • FSSAI simplified food import clearances: It integrated its Food Import Clearance System with the Indian Customs and Central Excise gateway, enabling a food importer to file an application on the Single Window Interface to Facilitate Trade or SWIFT System.

Food Import Clearance Process:

File Application on SWIFT ->Document Scrutiny->Inspection & Sampling->Samples to Lab->Lab Test Report-> No Objection or Non Conformance Certificate ->Transmit NOC/NCC online to SWIFT->Authorities decide on release of consignment

  • For importing food into India the importer must have a valid FSSAI License and the Import-Export Code from the Directorate General of Foreign Trade.
  • Currently FSSAI is present at 6 places in India: Chennai, Kolkata, Mumbai, Delhi, Cochin and Tuticorn.
  • In the case of food items with a very short shelf life, (such as fresh fruit and processed cheese) FSSAI will issue a Provisional No Objection Certificate immediately.
  • To eliminate the current practice of multiple sampling and testing from the same cargo, and to facilitate import clearance, FSSAI now allows one homogeneous sample to be drawn from commingled cargo of pulses, cereals and oils for multiple importers at the first port of discharge. The analysis report of the sample at the first port of discharge will remain valid at other ports of discharge.

FSSAI Logo

October 23, 2017   No Comments

Gujarat Leads Race to Manufacture Electric Vehicles in India

With the Government of India’s initiative to put 1 million electric vehicles on the roads by 2019 , car and bike makers are preparing to manufacture electric and hybrid systems. The western state of Gujarat is set to become the electric vehicle hub of India.

Ford Motor Co., which has a manufacturing unit at Sanand in Gujarat will partner with Mahindra Group to explore electrification of vehicles as a potential area of co-operation on which they would collaborate and work together for the next three years.

Mumbai-based JSW Group signed an agreement with the government of Gujarat to promote production of battery operated vehicles in the state along with the production of electrical battery, storage solutions and charging infrastructure. The company will invest $700 million (4000 crore) in the project.

Electric car

Suzuki Motor Corporation is gearing up to manufacture EVs in a factory at Hansalpur in Gujarat, and has committed $600 million for the venture.

Tata Motors is looking to revamp its Nano as an EV, in a bid to boost sales; its factory too will be in Gujarat.

Live Mint says that MG Motors India Ltd, a subsidiary of China’s largest auto maker SAIC Motor Corp. Ltd is also considering launching electric and hybrid cars in India. The company has recently taken over General Motors India’s manufacturing facility in Halol, Gujarat “from where we aim to roll out environment-friendly vehicles,” said P. Balendran, executive director at MG Motors India.

September 30, 2017   No Comments

India Sets Up the 5G India 2020 Forum

The Government of India set up a high-level 5G India 2020 Forum to roll out 5G in India by 2020.

The committee will have on board three secretaries, one each from the Department of Telecommunications, IT and Electronics, and Science and Technology Ministries. Other members of the forum will include Dr. A. Paulraj, professor emeritus, Stanford University; Gururaj Deshpande, chairman of Sycamore Networks, U.S.A.; CEOs from India’s ICT industry; officials from the Telecommunications Standards Development Society of India; and professors from the Indian Institute of Technology at Madras, Mumbai, Delhi, and Hyderabad, the Indian Institute of Science Bangalore; as well as stakeholders from industry associations.

The primary goals of 5G India 2020 Forum are: an early deployment of 5G in India, which will require a rapid overhaul of basic infrastructure and a focus on substantial growth of India’s technical ecosystem, and a globally competitive product development and manufacturing ecosystem.

5G connections

Gizbot suggests that a vibrant ecosystem of research built around 5G that encompasses industry, government and academia will further strengthen the Make and Design in India initiatives to enable design and manufacture of 5G technologies, products, and solutions in India.

September 28, 2017   No Comments

India is a Winner in Hyperloop One Global Challenge

A panel of experts in infrastructure, technology, and transportation, announced ten Hyperloop One winners from five countries — Canada, India, Mexico, U.K. and the U.S. — which were  chosen from among hundreds of applicants.

The two Indian companies that made it to the winning list are Hyperloop India and AECOM India. The former proposed a Mumbai-Chennai route that would provide an east-west connection across India. The 685-mile stretch will take passengers and goods from Mumbai to Chennai in just 63 minutes. AECOM India proposed the 208-mile Bangalore-Chennai Industrial Corridor that would take passengers and goods in just 23 minutes, reports The News Minute.

“The winning teams of the Hyperloop One Global Challenge represent the best innovation and creativity from government agencies, engineering firms, academics, infrastructure experts and more,” said Josh Giegel, co-founder and president [Engineering] of Hyperloop One. “We look forward to working closely with all the winners, their partners and local authorities to examine the feasibility and scope of these routes and, ultimately, build the first Hyperloop routes around the world,” he added.

September 22, 2017   No Comments