Cargill to Invest Additional $240 Million in India

Minnesota-based Cargill said it will invest $240 million in India over the next five years in its business of edible oil, cocoa and chocolates, starches and sweeteners, and animal nutrition. This announcement was made at the World Food India Conference held in Delhi in early November by Cargill Asia Pacific CEO  Peter Van Deursen, at a MoU signing ceremony in the presence of Harsimrat Kaur Badal, India’s minister for Food Processing.

Cargill Logo

Van Deursen said, “India is an important market for us and this increased investment demonstrates our commitment to the country and the development of its agriculture and food processing industry,” reports BusinessLine.

The company employs more than 3,500 employees in India. Last year, Cargill inaugurated its first wet corn milling plant in India, set up with an investment of $100 million. The company also inaugurated a new dairy feed mill in Bathinda, Punjab, and its largest business services center in Bangalore.

November 7, 2017   No Comments

WeWork Expands to India

Miguel McKelvey, co-founder and chief creative officer of the $20 billion New York-based collaborative workspace startup WeWork, discussed his business in India with Forbes’ India staff Anshul Dhamija.

McKelvey said that in India WeWork had entered into a partnership with the Embassy Group. They launched operations in the beginning of this year and had close to 350,000 square feet of shared workspaces in Bangalore and Mumbai. “India’s probably the biggest market for us,” says McKelvey.

The concept of sharing a workspace with diverse set of professionals and enterprises is new in India and is catching on. WeWork gives access to discounted health care services, payment processing for their companies, IT support, education and training, to all its members.

When asked to comment on what opportunities India offers, McKelvey said: When we first came here, or thought about coming here, it certainly felt a bit overwhelming because it’s such a huge place and the culture is so diverse, varying from city to city and state to state. So having a partner is essential in understanding the local culture and also gives us credibility in the market. India’s probably the biggest market for us. While we are super excited to be in Japan, Australia and Europe, we are talking about hundreds of millions of people here in India. I think this is a place that, in the upcoming years, will play a major part in the way the world economy develops. For us to be here now is an incredible opportunity.

Inside an Office

October 29, 2017   No Comments

India’s Zoomcar to Launch Bicycle Sharing Service

Ford-backed car rental service Zoomcar based in Bangalore, India, is set to start a bicycle sharing business. Founder, American  expatriate  Greg Moran, said that the company will have its own fleet of cycles and will start the service in Bangalore, Chennai and Kolkata.

“We have observed a huge market gap for trips shorter than 5 kilometers (3 miles)  and we believe that the cycle is best positioned to serve these cases. We are starting with a fleet of 500 cycles but we will take it to 10,000 within this year. We have worked heavily on the technology aspect of this business,” said Moran.

Bicycles

Zoomcar partners with a number of locations, such as retail stores and other small businesses in each city, to keep and manage the cycles. When a user requests for a cycle on the app, the nearest location will show up. The user can pick up a cycle from the location, and after using it, can leave it pretty much anywhere. The partner that is nearest has to arrange to pick up the cycle. The cycles will have GPS to indicate its location, reports the Economic Times.

October 16, 2017   No Comments

Nielsen Partners India’s SnapBizz for Data on Retail Analytics

New York-based global marketing research firm Nielsen Corporation announced a strategic partnership with retail technology start-up SnapBizz, headquartered in Bangalore, India, to provide real-time, actionable insights on products and services for retailers and companies in traditional trade.

Traditional trade stores account for nearly 90 percent of the fast-moving consumer goods sector in India. However, unlike in organized retail, very limited data and insights are available in this sector. The Nielsen-SnapBizz partnership brings together the latter’s point-of-sale technology architecture, which is used in 2,500 kirana (mom and pop) stores, and Nielsen’s expertise in the retail data analytics space. The data captured will provide store-level consumer buying insights on real-time promotions, launches, performance, price efficiency, displays and assortment based on consumer buying patterns, reports BrandEquity.

Kirana Shop in India

“The partnership will enable unorganized kirana store owners to drive business decisions based on data. Traditional trade will continue to play a very significant role for the country’s retail landscape,” SnapBizz chief executive and founder Prem Kumar said.

 

 

October 15, 2017   No Comments

Volvo Starts Assembling Cars in India

Swedish  brand Volvo has begun assembling cars at their plant near Bangalore in India. Cars valued $40,000 or more that are brought into the country through the Completely Built Unit route attract an import duty of 100%. So to make the cars more affordable to Indian consumers, Volvo India will go the Completely Knocked Down route paying a 10% import duty on car components.

Volvo’s facility in India has its Scalable Product Architecture (SPA) modular chassis technology on which the company assembled its first XC90 SUV for India. SPA allows a wide range of cars, powertrains, electrical systems and technologies – all of differing complexity – to be fitted on the same architecture, generating significant economies of scale.

Volvo XC90 - Air suspension

Indiancarsbikes.in quotes Volvo Auto India’s managing director Charles Frump as saying, “It’s a moment of great pride for all of us at Volvo Cars. The roll-out of the first locally assembled Volvo car speaks volumes for the company’s commitment to grow further in India. The last three years have been good for us in India.”

 

 

 

 

 

October 15, 2017   No Comments