Category — Foreign Companies in India

SAP Labs India Gains in Strategic Importance

SAP Labs India, SAP’s largest research and development center outside its headquarters in Germany, is steadily growing in strategic importance, says Stefan Ries, chief human resources officer of the company.

In an interview with the Economic Times, Ries said, ” The India center is gaining in strategic importance for us: the Fashion Management solution, which is used by Armani and Gucci, has been built entirely out of here. Our India footprint is steadily growing, adding 800-1,000 people to the overall headcount annually.

We recently inaugurated a new addition to our Whitefield, [Bangalore] campus — the Gerhard Oswald Innovation Space — built with an investment of €50 million [$57.52 million]. We will continue to make strong investments in our India center.”
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SAP India recently improved its learning and development process with its SAP Success Factor program where learning is a one-stop digital experience with 1.3 million opportunities available in the system. Employees can register their learning need and find solutions. The company will invest €160 million [$184 million] in learning this year, adds Ries.

July 20, 2017   No Comments

India Has Highest Number of Facebook Users

As of July 13, Facebook reported a total “potential audience” of 241 million active users in India, compared to 240 million in the United States, making India the largest audience country for the social media company.

The Next Web says: Facebook has achieved impressive growth in both countries since the start of 2017, but new figures suggest that active users in India are growing more than twice as fast as they are in the United States. Active users in India are up 27 percent in the past six months alone (+50 million), compared to growth of 12 percent (+26 million) in the United States over the same period.

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Social media penetration in India remains relatively low, with just 19% of the country’s total population using Facebook in June, compared to 73% penetration in the U.S., and a global average of around 42%.

Men still represent three-quarters of India’s active Facebook profiles, and its gender imbalance in India is in stark contrast to its U.S. audience where 54% of the platform’s active users are women. Facebook’s active users in India also skew young, with more than half of the country’s users below the age of 25.

 

 

July 20, 2017   No Comments

Volvo’s Managing Director Says GST Is Good for Business

In an interview with the Economic Times, Tom Von Bonsdorff managing director of Volvo Auto India said that the recently introduced Goods and Services Tax (GST) is a business enabler. “The ease of doing business in India will grow. Now we have just transitioned to GST, give it a few months, it will settle down and will be good for business.”

Bonsdorff told the publication that the company will continue to bring hybrid cars into India despite the higher GST levies on this category of vehicles. Hybrid cars are the crucial first step in helping India achieve its 2030 goal of switching to electric cars for personal transport, he added. In 2019, Volvo will launch its fully electric car globally.

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“We launched our first plug-in-hybrid last fall. We will continue to launch plug-in-hybrids in all the cars that we bring in. We are committed to that,” Bonsdorff said. He also noted that the company had a good start this year and will go forward in its plan to bring in new cars. He was confident of achieving a target of selling 2000 cars and having 25 new showrooms by the end of this year.

July 20, 2017   No Comments

Warburg Invests $100 Million in India’s CleanMax Solar

In its seventh transaction within one year, NYC-based Warburg Pincus will invest up to $100 million in Mumbai-based rooftop solar projects developer CleanMax Enviro Energy Solutions Pvt. Ltd. According to VCCEdge, the data research arm of VCCircle, this latest investment takes the total amount Warburg Pincus has committed in India to $1.14 billion.

CleanMax is the first renewable energy company that Warburg Pincus has backed in India since it entered the country two decades ago. According to the company’s website, it has more than 45 MW of installed and onsite projects, and caters mainly to corporate customers across automotive, food and beverage, IT and other industries.

Kuldeep Jain, CleanMax founder and managing director, said that his company aims to use the funds to expand in India and pursue growth opportunities in the Middle East and Southeast Asia.

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July 19, 2017   No Comments

U.S. House Passes Bill on Defense Cooperation with India

The U.S. House of Representatives passed a $621.5 billion defense policy bill that includes defense cooperation with India. An amendment in this regard, moved by Indian-American Congressman Ami Bera, was adopted by a voice vote by the House as part of the National Defense Authorization Act 2018, beginning October 1 this year.

The India-related amendment passed by the House requires the Secretary of Defense, in consultation with the Secretary of State, to develop a strategy for advancing defense cooperation between the United States and India. “The United States is the world’s oldest democracy and India is the world’s largest democracy. It is vitally important to develop a strategy that advances defense cooperation between our two nations,” Bera said.

Photograph of Ami Bera

The Act now  needs to be passed by the Senate before it can be sent to the White House for President Donald Trump to sign into law, reports News 18.

Cara Abercrombie, Deputy Assistant Secretary of Defense for South and Southeast Asia, said, “We have the same interests in upholding this international system that upholds the rule of law that favors freedom of navigation, open sea lanes of communication, and freedom of over flight. Those are values that are critically important to the United States and India to our economic prosperity and to our access in the region.”

July 16, 2017   No Comments