Category — Market Entry
Shanghai headquartered Youzu Interactive will invest $10 million to set up its India operations in Pune, 90 miles east of Mumbai, from where it plans to launch local-to-India casual strategy games this year. Media and entertainment industry analysts said Youzu Interactive is the first international entity to enter the Indian gaming industry.
CEO Anuj Tandon said, ” This year we will be looking at social casino, cricket, shooting games for the Indian market, but as we wait for the market to mature we will have role-playing games, mid and hardcore strategy games that we will introduce too.”
The company will cater to individuals in the 18-40 year age group who own smartphones worth over $150; (Rs 10,000) they will also cater to users at the lower end of the smartphone spectrum in smaller cities. App purchases and reward-based videos will also be offered, reports the Economic Times.
March 5, 2017 No Comments
PayTM, a consumer shopping Android app has launched an e-commerce mall modeled on TMall, China’s dominant e-commerce platform. With Alibaba’s and SAIF Partners‘ infusion of $200 million into Paytm, an Indian payment and commerce company based out of Delhi NCR, the company is now valued at $1 billion.
Paytm e-commerce aims to offer 1 billion products from all across the globe to its shopping cart by the festive season in India that starts in August. It plans to bring sellers from Southeast Asia, especially from Alibaba’s other investments such as e-commerce major Lazada in Indonesia. Market sources cite Amazon as having about 500 million products on its platform, while Flipkart and Snapdeal have about 50 million products each.
Paytm has already set up 17 fulfillment centers and 40 courier partners for speedy service as the company aims to dominate the Indian online shopping market, reports Business Standard.
March 4, 2017 No Comments
Los Angeles-based Hyperloop One‘s chief executive officer Rob Lloyd, senior vice-president global field operations Nick Earle, and executive chairman and co-founder Shervin Pishevar were in New Delhi end February to showcase their ‘Vision for India’ to mark their official launch in the country.
The event convened India’s five semifinalist teams from the Hyperloop One Global Challenge, along with a roster of government officials, media, urbanists, and transportation specialists. The teams shortlisted from more than 100 applications, were AECOM, LUX Hyperloop Network, Dinclix GroundWorks, Hyperloop India and Infi-Alpha. Each put forward a comprehensive and commercially viable transport plan covering economic and policy aspects of their respective cities and regions, reports Mint.
Shervin Pishevar, executive chairman of Hyperloop said, ‘India is an extremely important geography for developing Hyperloop networks and re-imagining how cities and regions work. Prime Minister Narendra Modi’s vision for transforming India and the role he sees for technology in driving this change is indeed remarkable,’ he added.
March 3, 2017 No Comments
Raytheon signed an MoU with India’s Tata Advanced Systems Limited (TASL) to co-produce Stinger air defense missile components in India.
“Our agreement with Tata Advanced Systems deepens our industrial partnership in India with a global technology leader and will expand the range of options and capabilities for U.S. and coalition forces to achieve their missions,” said Duane Gooden, Raytheon Land Warfare Systems vice president in a statement.
Last year, India was one of three international customers to order Stinger missiles, and it plans to equip its AH-64 Apache helicopters with them, reports Defense World.Net.
February 22, 2017 No Comments
French automobile conglomerate PSA Peugeot Citroen (also known as the PSA Group), finalized a $12 million deal to acquire Hindustan Motors from parent company the C.K. Birla Group.
Once known as the ‘King of Indian Roads’, the Ambassador car brand is the most iconic car of India. Modeled after the British car Morris Oxford III, this car was first manufactured in 1958, and in 2014 production was shut down.
The PSA Group, which owns the Peugeot, Citroen, and DS Automobile marques, established a partnership with the C.K. Birla Group in January 2017 to enter the Indian automobile market. The joint venture, with a reported initial investment of $112 million, will see the French company set up a factory in Tamil Nadu to manufacture around 1,00,000 vehicles each year, reports Your Story.
February 16, 2017 No Comments