Category — Information Technology

Intel Invests $178 Million for R&D in India

Santa Clara, CA-based Intel Corporation will invest $178 million in India to set up a new research and development center in Bangalore said Intel India’s general manager Nivruti Rai at a news conference. This fresh investment is in addition to the $4.3 billion  Intel invested in the country over the last 15 years since it set up its largest design center outside the U.S.

Intel Corporation logo

 Spread over a 44-acre campus, the new center will have a computer software development, hardware design services and verification facility. “The nine storied building with 620,000 sq.ft. of office space will be completed in the next nine months,” said Rai. “The new facility will enable us to continue our momentum in doing cutting-edge innovation and design work from India,” he added.

The company’s Indian subsidiary has about 7,000 engineers to design and power semiconductor chips for its global customers, including original equipment manufacturers of computers, smart phones and other electronic devices, reports ET Telecom.

June 19, 2017   No Comments

Diebold Nixdorf Targets over 30 percent Revenue Growth in India

With 49 percent market share in the ATM segment, and a presence in 4,000 Tier I cities in India, Ohio-based Diebold Nixdorf plans to shift its focus to Tier 2 and Tier 3 cities. This is part of its strategy to grow its retail business in India the company’s managing director S. Asia, and vice-president, operations, Asia-Pacific, Jaivinder Singh Gill, told BusinessLine. “We have started work [entering Tier 2 and Tier 3 cities]. We should get returns in 2018-19. We need different solutions and products for that market,” he said.

Diebold Nixdorf PoS machine

Gill sees ample opportunities to grow the retail (ePoS) side of the business in India. The target is to grow retail revenues by 30-40 per cent this fiscal, he said. The company will also look to manufacture ePoS machines under the ‘Make in India’ program, Gill added.

 

June 16, 2017   No Comments

ATM Maker Diebold Says India is a High Growth Market

With a presence in over 4,000 cities and towns, Ohio-based Diebold has operated in India for more than 25 years and is well versed in the country’s banking and financial narrative. The company recently completed integration after acquiring German corporation Nixdorf.

In an interview with CXO Today, Jaivinder Singh Gill, managing director – South Asia and vice president Operations – Asia Pacific, Diebold Nixdorf, discussed the future of the banking and e-Point of Sales (PoS) market in India.

Lightly edited excerpts from the interview:

The current scenario of banking

Gill: The number of banking outlets in the villages went up from 67,694 in March 2010 to 586,307 in March 2016 after India’s central bank permitted the appointment of Banking Correspondents – entities engaged by a bank to provide banking services in geographical territories where banks are under represented. A banking correspondent works as an agent of the bank and substitutes for the brick and mortar branch of the bank. The number of urban locations covered through such Banking Correspondents also surged from 447 in March 2010 to 102,552 in March 2016.

On the changing consumer patterns in Indian banking

Gill: Since currency demonitization in November 2016, ATM transactions have increased by 26% and the value of ATM transactions is up by 83%. Customer transaction behavior is now a mix of both ATM and PoS transactions. We see the increasing usage of mobile phones as a banking channel and the use of social media by millennials to interact with banks.

On the implications of India moving towards a digital economy

Gill: The PoS market is expanding fast in India with digital adoption on the upswing. Some data facts highlight that there has been a 67% growth in the absolute number of terminals across the country. There has been a 64% growth in the number of P0S transactions in India.

The PoS market is directly linked to the growth in the retail industry which has a very high growth potential in India. This high growth will be see in Tier 2 and 3 cities/ towns due to rapid urbanization, growing aspiration levels, and availability of credit.

Augmented Reality and Virtual Reality are two key levers which retailers need to focus on to drive footfalls. Adopting an Omni-channel approach is another major criterion on which the retailers need to shape their strategy on.

On how products like PoS or ATM machines will support the economy

Gill: The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. It accounts for over 10 percent of the country’s GDP and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space and the Indian retail market is expected to nearly double to $1 trillion by 2020, driven by income growth, urbanization and attitudinal shifts.

The e-POS solution delivers a seamless, Omni-channel retail experience to enhance competitiveness. It can rapidly roll out pre-configured templates to support diversification into different retail sectors and accelerate international expansion with centralized store-lifecycle management. The technical benefits are also immense: it enables a reliable, secure and easily manageable platform for retail asset management based on trusted industry standards. It also comes with comprehensive data exchange options and offers support for centralized and client/server configuration.

On the roadmap for the India market in the next one year

Gill: We expect high growth in cash recycling with almost 30% y-o-y market growth expected in 2017/18 per our internal estimates. Branch redesign and teller automation is also a focus area for banks to reduce their operational costs. Growth is also expected in cash system logical security solutions, multi-vendor software solutions, services, and e-POS growth in Tier 2/ 3 market segments. The ATM replacement market with banks opting for technology refresh also has immense potential. This growth market is predicted to reach up to 52% of the overall procurement by 2021.

Mobile and Stationary PoS

June 14, 2017   No Comments

GMEX and India’s Metropolitan Stock Exchange to Collaborate

London-based GMEX Group and the Metropolitan Stock Exchange of India will collaborate to develop technology-driven products to enhance India’s capital markets. As part of the proposal, GMEX will acquire a 5% stake in the Exchange, and its subsidiary, the Metropolitan Clearing Corporation of India.

The collaboration includes product development in the existing segments; launching new product categories; an increased focus on technological innovations; and development of market infrastructure for new products, reports waterstechnology. Udai Kumar, CEO at the Exchange said, “The new products will enable key objectives to deepen and widen our capital markets and address the growing needs of the economy.”

Metropolitan Stock Exchange Logo

The Metropolitan Stock Exchange is the youngest of India’s three stock exchanges recognized by the Securities and Exchange Board of India, the other two being the Bombay Stock Exchange and the National Stock Exchange.

June 8, 2017   No Comments

Dell EMC to Invest $1 Billion in India

IT infrastructure provider Dell EMC, based in Massachusetts, plans to invest $1 billion to set up its product development center in Pune, a city 75 miles east of Mumbai, as well as expand its manufacturing base in India.

Dell EMC Product

The company already has a factory near Chennai, in south India, from where it shipped its 10 millionth product last month, Dell EMC Director for Mega Projects, Ravinder Pal Singh said. He added that the sales turnover of the company will be over $3 billion over the next couple of years, reports India Infoline News Service.

 

June 5, 2017   No Comments