Category — Market Entry

Enphase Energy Launches R&D Center in India

Petaluma, California-based energy technology company and supplier of solar microinverters, Enphase Energy Inc., opened it first Indian R&D center in Bangalore.

“I am pleased to announce our first R&D center in India, which is an important part of our overall global strategy,” said Badri Kothandaraman, president and CEO of Enphase Energy. “The abundant engineering and technology talent in India not only fits well with Enphase’s core of product innovation, but also helps us in operational excellence to achieve our 30-20-10 financial operating model.”

An enphase microinverter being bolted to the racking system

Business Insider reports that India has a mature R&D ecosystem that includes many renewable energy companies with more than twenty years of business in the region. Enphase Microinverters integrated solar plus storage solutions are designed and proven to operate for decades in harsh climates such as India’s.

 

December 7, 2017   No Comments

Madame Tussauds Museum Launches in New Delhi

Madame Tussauds Wax Museum opened its doors on December 1, in New Delhi. It will be home to around 50 wax figures, including cricketers Sachin Tendulkar, Brian Lara; actors Richard Gere, Amitabh Bachchan, Salman Khan, Marilyn Monroe; sports personalities Mary Kom, Milkha Singh and Lionel Messi; as well as political leaders Mahatma Gandhi, and current Prime Minister of India, Narendra Modi.

Sachin Tendulkar's wax figure at Madam Tussauds Delhi

Sachin Tendulkar’s wax figure at Madam Tussauds, New Delhi

Anshul Jain, general manager and director, Merlin Entertainment Group, India, which brought Madame Tussauds to India said, “60 percent of the wax models are Indian.” The ticket price in India is one-third the charge elsewhere in a bid to make it more accessible to the masses, reports the Indian Express.

December 6, 2017   No Comments

Digital Domain Expands To India

Los Angeles-based provider of visual effects and immersive experiences, Digital Domain, launched a 42,000 sq. ft. facility, in Hyderabad, India, its tenth global location. Digital Domain India is located in Hyderabad’s IT/ITES Special Economic Zone campus, where it joins Apple, Microsoft, Facebook and Google already have offices

Digital Domain Logo

India is, and will continue to be, an integral part of Digital Domain’s global expansion plans, as we foresee the region to be a leading consumer of premium content,” said Amit Chopra, COO, Digital Domain, reports Prnewswire. “The escalating demand for premium film and digital experiences in India combined with a highly skilled local talent pool and Digital Domain’s prowess in the visual effects and the interactive content space will prove unstoppable.”

India is the world’s largest producer of movies, an industry that Germany-based online research firm Statista has forecast to be worth $3.2 billion by 2021.

“The world class infrastructure and start-up ecosystem in Hyderabad make it an extremely desirable location for innovative companies like Digital Domain,” said Daniel Seah, Global CEO, Digital Domain. “Combined with the recent projections for smartphone growth and mobile bandwidth expansion in the region, the people of India are primed to demand and expect premium content, and we are ready to deliver on that need.”

 

 

December 2, 2017   No Comments

S. Korea’s Lotte Acquires Ice Cream Maker in India

South Korea’s Lotte Confectionery bought Ahmedabad, Gujarat-headquartered ice cream maker Havmor Ice Cream Ltd for $150 million  in an all cash deal. Privately held Havmor, worked with KPMG, Veritas Legal and Dhruva Tax Consultants, to seal the deal. It is the first time that a South Korean company has entered the food space in IndiaAnkit Chona, managing director, Havmor, said that he would continue to manage the company for Lotte for the foreseeable future.

Havmor was founded in Karachi – then part of India –  by Satish Chona in 1944. Immediately after partition in 1947, Havmor moved operations to India and set up its base in Ahmedabad. In 1951, it started as a handcart venture, and by 1953  the company’s first shop was set up, reports the Business Standard.
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Havmor has a 3.5-4 percent share of the  $1 billion (Rs 6,000 crore) Indian ice cream market, which is growing at 10 percent annually. 

November 24, 2017   No Comments

India to Get its First Cartoon Network Themed Park

Turner International India, a division of New York City-based Times Warnerand the Rajgreen Group of Companies based in Gujarat, India, announced a 10-year partnership in Amaazia — India’s first Cartoon Network-branded amusement park. The Rajgreen Group invested $66 million in the venture which is located at Surat in the state of Gujarat. Amaazia is expected to be operational by the first quarter of 2019. 

Spread over 657,00  square feet, the park has been conceptualized and designed by the Sanderson Group, Australia. Planned as a family entertainment destination, the park will have 33 rides and attractions featuring popular Cartoon Network characters, 20 unique water-slides, a water park, a family recreational hub, and a retail shopping area. The venture aims to tap one million footfalls in its first year of operations, reports Business Line

Sanjay Movaliya, chairman, Rajgreen Group, said, “Our audience today is well-travelled and exposed to global entertainment venues. Our aim is to create a similar experience closer home, via our association with a hugely popular global brand like Cartoon Network.” 

A section of a roller coaster

According to a KPMG report, the Indian theme park industry grew at 10.25 per cent in 2016 to reach $466 million, up from $426 million in 2015.

November 10, 2017   No Comments