Category — Innovation(RnD)

Warburg Pincus to Invest in India’s Tata Technologies

New York-based private equity firm Warburg Pincus will invest $360 million in Tata Technologies for a 43 percent stake, of which 30 percent will be acquired from Tata Motors, the parent company, and 13 percent from Tata Capital.

Tata Technologies Logo

Tata Technologies provides outsourced design, research and development services to the automotive, aerospace, and industrial machinery industries, and has about 8,500 employees in 23 countries. Warren Harris CEO of Tata Technologies said, “As the engineering services outsourcing market has matured from cost arbitrage and staff augmentation to increasingly high-end, strategic work, Tata Technologies has been there leading the charge.”

Vishal Mahadevia, managing director and co-head of Warburg Pincus India, said that the PE firm will leverage its global network and prior experience in the engineering services sector to help Tata Technologies grow both organically and through acquisitions, reports Bloomberg.

 

June 19, 2017   No Comments

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

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

Shell Inaugurates Technology Center in India

British-Dutch oil and gas multinational Shell opened a new major technology hub in Bangalore — a 52 acre, custom-built facility – that can house up to 1,500 scientists and engineers, who will  work on worldwide innovative energy projects.

This third center, which is similar to those in Amsterdam and Houston, will have specialists who will work closely with experts from external industrial partners, universities, and institutes. In India, chemistry and catalysis research is done in collaboration with the Indian Institutes of Technology.

“Collaboration is essential to meet our biggest challenge: timely development and deployment of the best and affordable energy solutions, for today and for the future as the world transitions to a low carbon energy system,” said Harry Brekelmans, Shell’s Projects & Technology Director.

Shell Logo on a canopy

Using its IH2 (waste to fuel) technology, this center will help pioneer efforts to turn forestry, agricultural and city-generated waste into transportation fuels, with a new demonstration plant built at the site, reports the Economic Times.

“The center is slated to play a prominent role in Shell India’s aspiration to custom-build a portfolio of new energy solutions specifically suited to India’s energy challenges,” Nitin Prasad, Chairman of Shell Companies in India, said.

June 8, 2017   No Comments

Clean Motion Expects India Largest Market for its Electric Rickshaws

Clean Motion India, a subsidiary of Clean Motion AB, Sweden, rolled out its three-wheeled electric  rickshaw or  “pod” called the Zbee in 2016. Certified in the L5 category by the International Center for Automotive Technology, these electric vehicles are gaining acceptance in India.

Business World interviewed Anil Arora, Country Head, Clean Motion India who shared his insights into the future of this e-vehicle in India:

Arora said that the third generation of this vehicle are used in malls in Gurgaon, and Noida, near Delhi. “We would like to be integrated as a connected electric vehicle for Greenfield smart cities. We will go for subscription-based models and are in talks with five-star hotel management in multiple cities to operate our vehicles. Yes, we do have such plans for South East Asian markets. We are starting our shipment to Nepal and Sri Lanka,” said Arora.

Zbee the elctrical vehicle

Currently most of the 230 components for building this vehicle are imported from Sweden, and the company is localizing the product at their  manufacturing facility at Faridabad in India’s northern state of Haryana. “We are aiming for a 70 percent localization which will enable us to bring down the price of the vehicle. The automotive ancillary industry even for e-vehicles is very good in India,” mentioned Arora.

By 2020 the company aims to have a valuation of $150 million. “The key growth drivers will be widespread expansion and mass acceptance of our products. In fact, India is expected to be the biggest market for us globally,” Arora added.

June 8, 2017   No Comments