Category — Foreign Companies in India

New Jersey based ATCS Sets Up Innovation Lab in India

New Jersey-based IT solutions company Advanced Technology Consulting Service (ATCS) expanded its operations in India by recruiting new staff and setting up its first Innovation Lab (I-Lab) in Jaipur, in the western state of Rajasthan. The company also opened a new office in Bangalore.

“The I-Lab not only serves as a functional space for approaching ideas and concepts in an alternative setting but also embeds a spirit in our team that ATCS is expected to think differently, creating solutions beyond one’s peripheral views,” said Jason Castellani, partner at ATCS.

The company provides strategic guidance to and implements software solutions for several Fortune 500 companies, and has offices in China, Germany and Canada, reports NDTV Profit.

Manish Krishnan, Global CEO, ATCS, said, “For our customers, innovation is a big drive. Having such a lab in our India office helps us in delivering more inventive ideas to our clients.”

ATCS Press Conference in Jaipur

ATCS Press Conference in Jaipur

July 13, 2017   No Comments

India Approves Amazon’s $500 Million Investment in Food Retail

India’s Department of Industrial Policy and Promotion approved e-commerce major Amazon‘s proposed $500 million investment in retailing of food products in the country. The company will launch a wholly-owned subsidiary in India to stock food products and sell online.

Last year the government allowed 100 percent foreign direct investment for trading, including through e-commerce, in food products manufactured and produced in India. In 2016-17 (December to April) the food processing sector in the country received FDIs of $663.23 million, reports the Economic Times.

Amazon Logo

July 13, 2017   No Comments

Google Acquires India-Based Halli Labs

Halli Labs, where Halli (pronounced Hull – Lee) means ‘village’ in Kannada, the language of the southern state of Karnataka in India, is the latest AI startup acquired by Google. Based in Bangalore, the four-month-old startup’s focus is building deep learning and machine learning systems to address what it describes as ‘old problems’ and domains. Halli Labs has been working on natural language processing which can help Google efficiently process real-world language.

Halli Labs Logo

Google confirmed the acquisition with a statement  to TechCrunch:

“We are excited that the Halli Labs team is joining Google,” said spokesperson Taj Meadows. “They’ll be joining our team that is focused on building products that are designed for the next billion users coming online, particularly in India.”

Market intelligence research firm IDC reports that the AI market currently stands at $8 billion. The research forecasts the rise of the AI market to $47 billion in 2020.

July 13, 2017   No Comments

India and Israel Sign Defense Agreements Worth $4.3 Billion

Ten agreements worth $4.3 billion were signed during a formal meeting of India-Israel CEOs forum in Tel Aviv soon after Indian Prime Minister Narendra Modi’s visit. These include the manufacture of air defense systems, radars, anti-ship missiles, and medium altitude long endurance UAVs in India, under technology transfer.

Israel Aerospace Industries (IAI) and Kalyani Strategic Systems Ltd., will expand their joint venture to establish a maintenance center for selected advanced air defense systems radars, anti-ship missiles and command & control systems for the Indian armed forces, for $1.54 billion.

Bangalore-based Dynamatic Technologies and Elcom signed a ‘Strategic Teaming Agreement’ to produce, assemble and support UAVs in India with IAI.

Elbit Security Systems Ltd signed a contract with India’s Alpha Design Technologies to increase the scope of their existing joint venture ‘Alpha-Elsec Defense & Aerospace Systems Pvt Ltd’, into areas such as new generation thermal imaging equipment, fire control systems, unmanned aerial systems (UAS), in addition to night vision devices, laser range finders, laser pointers, and reflex sights.

India’s Garware Wall Ropes Ltd., signed a Memorandum of Understanding with Israel’s Aero-T for manufacturing and supply of advanced aerostats for India’s Defense services, reports Defense World.

Israel-India flag

 

July 11, 2017   No Comments

Indian Oil Corporation to Buy American Crude Oil

State-owned Indian Oil Corporation floated its first tender to purchase high-sulfur, or sour, crude from North America as it seeks to diversify imports.

BusinessLine reports that India’s largest oil refiner is seeking to buy the crude grades Mars, Southern Green Canyon and Thunderhorse from the United States, and Western Canadian Select from Canada. Sellers are to deliver the oil in late September or early October.

Indian Oil Corporation

Indian refiners consider these heavy, high-sulfur grades as feedstocks. After effecting modifications at their plants, these types of crude grades are easier to process and they typically sell at a lower cost compared to other oil types. The U.S. could become an alternative source for the Indian companies for these grades.

July 11, 2017   No Comments