A report titled Digital Dynasties: The Rise of Innovation Empires Worldwide by Paris, France-based technology consulting and services firm Capgemini has listed Bangalore, India, as one of the top five most preferred locations for multinational companies that want to set up innovation centers and harness technology talent.
India, which did not figure in the top 10 list in July 2015, took Tokyo’s spot in February 2016 to stand at fifth place. Globally, 56 innovation centers opened in 20 countries over the past year, and 11 more plan to open soon. Capgemini analysts say that there has been a 29 percent rise in the number of innovation centers in Asia as compared to their previous research.
Quoting from the report:
India has been rising in the ranks of favorite destinations to open innovation centers. Our previous research identified eight innovation centers in India in July 2015. India has since seen eight more innovation centers open their doors. Bangalore has been the most favored city with four new innovation centers. Bangalore is home to several billion-dollar Indian startups such as: Flipkart, InMobi and Mu Sigma, and attracts world-class technology talent and investments. Among the new innovation centers opened here are: Airbus’ BizLab, which intends to bring together startups and Airbus’ internal entrepreneurs; and Visa, whose new technology center in Bangalore will house 1000 developers accelerating development of next generation payment solutions. Global firms are showing interest in other Indian cities as well. For instance, TriMas Corporation – a diversified global manufacturer of engineered and applied products – opened an innovation center in Delhi to focus on driving innovation across its range of packaging solutions, while Puratos, a leading global food ingredient company, launched an innovation center in Mumbai.
July 14, 2016 No Comments
New York-based JPMorgan Chase & Co. will open three branches in India, even as global competitors HSBC and UBS are scaling back to cut costs and bolster capital. JPMorgan is witnessing an increasing level of cross-border activity among its clients as they capture more business driven by India’s economic growth, Madhav Kalyan, chief executive of the bank’s Indian unit, said.
India’s central bank, the Reserve Bank of India, granted approval to open the outlets in the capital New Delhi, in Devanahalli, Bangalore where the international airport is located, and in Paranur, near Chennai, where the banks will provide existing products and services including cash management, trade finance and foreign-currency payments, The bank already has one branch in Mumbai, which opened in 1994, reports Blomberg.
“We’ve been very careful in selecting these locations,” given Chennai’s status as a manufacturing hub and Bangalore’s standing as an information-technology center, Muhammad Aurangzeb, Asia-Pacific CEO of JPMorgan’s global corporate bank, said in a phone interview. “We have a number of clients in both locations. The target market in our wholesale business is very clear, which is very different from retail,” Aurangzeb added.
July 2, 2016 No Comments
Amazon’s cloud computing business officially inaugurated its first data center infrastructure in India with the launch of two data centers in Mumbai, which becomes the 6th AWS Region in Asia Pacific bringing the global footprint of AWS Regions to 13. Local server infrastructure enables a quicker transfer of data between clients and Amazon’s servers. However, more importantly, local data centers help satisfy “data sovereignty” concerns, as data stored digitally is subject to the laws of the country in which it is located. Amazon said that some of its customers had requested local server infrastructure for just that reason. Some of AWS’s India clients are: Ola Cabs, NDTV, Tata Motors, Macmillan India, Hotstar, and redBus.
Amazon Web Services (AWS) CEO Andy Jassy, who was in Mumbai for the launch, said the company had built a base of 75,000 active customers (those who use the service at least once a month) even without a data center in India and he expected the number to rise significantly with the launch.
Early last year, the company’s head of sales and marketing told Times of India that it had 12,000 customers. The latest figure indicates a six-fold jump since then. It is also 7.5% of AWS’ customer strength of 1 million globally, a substantial proportion for a single country, according to Venture Beat.
AWS has emerged as one of Amazon’s most lucrative businesses, netting the company $2.5 billion in Q1 2016.
June 28, 2016 No Comments
In Mumbai, India, Amazon has set up Amazon Tatkal a specially designed studio-on-wheels offering a suite of launch services including registration, imaging and cataloguing services, as well as basic seller training. This service will allow Mumbai-based shop keepers to sell products like apparel, electronics, and books, through Amazon.in., reports the Times of India.
Over the next several months, Amazon Tatkal will visit multiple cities in the country and engage with local businesses.
Company representatives plan to educate sellers on the benefits of selling online, and will introduce them to the seller services offered by Amazon.in such as Easy Ship, Fulfillment by Amazon as well as Global Selling. Amazon Tatkal will also launch interested sellers on the Amazon platform, helping them with on-the-spot imaging and cataloguing tasks.
May 3, 2016 No Comments
In India to inaugurate a 50-acre campus in Mumbai, Paul Hermelin, CapGemini group chairman and CEO said the company will set up a new innovation center within the campus with focus on more R&D work. Called The Applied Innovation Exchange, the center is expected to focus on enhancing Capgemini’s service offerings, including digital and infrastructure services, which would be delivered to global customers based in the U.S. and Europe.
“Following the iGate integration, we wondered how we can put India at the heart of the group. The question is: is it the heart, the brain or backbone? For me, it is the backbone of the group because it (India) holds the group together,” Hermelin said at a media event in Mumbai.
Post iGate’s acquisition, the headcount of the group in India increased to around 90,000 people, making the country its largest offshore center. The company plans to further hire 25,000 to 30,000 employees in India over the next one year. Currently it has an employee strength of nearly 190,000 across the globe, reports Live Mint.
April 15, 2016 No Comments