October 16, 2016 No Comments
Mississauga, Canada-based Datawind, a developer of wireless, web-access products and services, announced that it will launch three 4G LTE-capable phones in India in October. The smartphones will be priced between $45 and $75, and will be manufactured in the company’s plants in Amritsar and Hyderabad, reports Mashable. The company has applied for license to become a virtual network operator.
The cheapest model features 1GB of RAM and 8GB of internal storage. The other two variants feature 2GB of RAM and 16GB of internal storage, and 3GB of RAM and 32GB of internal storage respectively. Datawind plans to offer a data plan featuring unlimited browsing at $1.5. “Moreover, we shall offer internet browsing for one year free of cost on our 4G handset,” Datawind CEO, Suneet Singh Tuli said.
September 27, 2016 No Comments
NCR Corporation, the Duluth, Ga.-based company said it is moving its existing engineering center in Hyderabad to a larger location in the city in early 2017 since it is expanding its operations in India.
The current facility develops and supports software and services used by global institutions. Some of these are the Interactive Teller ATMs, EMV contactless ATMs cash withdrawals, mobile cash withdrawals, mobile check deposits, EMV-enabled multi-industry payments systems, retail self-checkout lanes, CRM platforms, and cinema and stadium systems management solutions, reports Bizjournals.
“As we continue to build out our innovative, omni-channel architecture, the Hyderabad facility will play an important role as a strategic global center for software development,” Eli Rosner, Senior Vice President and CTO for Software Solutions at NCR Corporation, said in a statement.
September 5, 2016 No Comments
Sourcing from India for 30 years for its global stores, Swedish home furnishing company, IKEA, plans to double its sourcing from India to 600 million euros by 2020. About 70 percent of the current sourcing is in textiles and rugs.
To be part of the $600 billion Indian retail market, IKEA has pledged to invest over $1.5 billion in India over the next 10 years, reports Shilpa Kannan of BBC.
The company also plans to launch 25 stores in the next 10 years in India, and it will invest $110 million on its first store in the southern city of Hyderabad that will span over 400,000 sq feet, reports The Hindu. Construction work has begun on a 13 acre plot of land.
IKEA India CEO Juvencio Maeztu told reporters that this will be followed by opening more stores in the cities of Mumbai, Banalore and Delhi NCR. He said the company will open two to three retail stores every year. Ahmedabad, Chennai, Kolkatta, Pune and Surat are the other cities IKEA is looking at. Some major cities may get more than one store, he added.
August 13, 2016 No Comments
During Prime Minister Modi’s recent visit to the U.S. to address the joint meeting of members of Congress, several U.S. businesses announced investments into the Indian market, reports Huffington Post.
Star India, a subsidiary of 21st Century Fox, announced it will invest an additional $5 billion in the country over the next three years. “We see huge potential in the Indian market and have been one of the largest foreign investors in India and the largest in the media and entertainment sector,” said Uday Shankar, chairman and CEO of Star India.
Amazon announced an additional $3 billion in India, taking its total investment commitment to $5 billion. “Our Amazon India team is surpassing even our most ambitious planned milestones,” Jeff Bezos, Amazon CEO and Founder, said in a statement. The company plans to launch a “web services Cloud Region” in India. Its development center in Hyderabad will become its largest software engineering and development facility outside of the U.S.
California-based SunLink said it will partner with Indian companies to deploy up to 1.4 gigawatts of solar power over the next five years.
Westinghouse Electric Co., and Nuclear Power Corporation of India have agreed to start engineering and site design work for six nuclear power plant reactors in India, and conclude contractual arrangements by June 2017, the White House noted. India and the U.S. Export-Import Bank are expected to jointly finance the project.
June 13, 2016 No Comments