Shanghai headquartered Youzu Interactive will invest $10 million to set up its India operations in Pune, 90 miles east of Mumbai, from where it plans to launch local-to-India casual strategy games this year. Media and entertainment industry analysts said Youzu Interactive is the first international entity to enter the Indian gaming industry.
CEO Anuj Tandon said, ” This year we will be looking at social casino, cricket, shooting games for the Indian market, but as we wait for the market to mature we will have role-playing games, mid and hardcore strategy games that we will introduce too.”
The company will cater to individuals in the 18-40 year age group who own smartphones worth over $150; (Rs 10,000) they will also cater to users at the lower end of the smartphone spectrum in smaller cities. App purchases and reward-based videos will also be offered, reports the Economic Times.
March 5, 2017 No Comments
Germany-based Mercedes Benz introduced the 2017 Long Wheel Base version of its popular sedan, the Mercedes-Benz E-Class in India this month. It is the first India-specific product from Mercedes-Benz; it took 48 months for its development and is made in India for sale in India. The gasoline version in Mumbai comes at a price tag of Rs. 5,600,000 ($85,120) and the diesel version is priced at Rs. 6,900,000 ($104,880).
March 2, 2017 No Comments
New York City-based Blackstone Group is in advanced talks to acquire over 360,000 sq ft spread over six floors in the First International Financial Center (FIFC) Tower at Bandra-Kurla Complex, a business district in Mumbai, for over $125 million.
With rising income levels of India’s consumers, Blackstone has started focusing on retail spaces in India. The company has acquired properties across major markets in India in deals that are turning out to be benchmarks in the real estate sector. It owns India’s biggest portfolio of income producing office assets totaling over 30 million sq ft worth over a billion dollars across Noida, Mumbai, Pune and Bangalore says ET Realty.
February 13, 2017 No Comments
Canadian institutional money is pouring into India. One of our earlier blogs talks about Toronto-based Brookfield acquiring the telecom towers of India’s Reliance Communications. The Brookfield-Reliance Infratel transaction worth $1.6 billion is the second-biggest private equity transaction ever in the country.
Last October, in one of India’s largest deals in the commercial property space, Brookfield Asset Management acquired Hiranandani Group‘s 4.5 million square feet of offices and retail space in Powai, Mumbai, for approximately $1 billion.
“Our long investment horizon aligns to the financing and capital needs of India’s economy, growing entrepreneur culture and the strength of business in the country,” says Suyi Kim, Managing Director, Head of Asia Pacific at CPPIB.
February 10, 2017 No Comments
Headquartered in Mumbai, India’s largest automobile maker, Tata Motors, showcased its most recent vehicle: the hydrogen powered “Starbus”, a zero-emission mass transport solution, for inter-city commutes.
This bus, developed in partnership with India’s Space Research Organization, works by combining hydrogen and oxygen in a fuel cell. The fuel cell produces electricity to power the electric motor; water and heat are byproducts. This is the first time an Indian manufacturer has ventured in this direction, reports carandbike, a unit of NDTV.
Ravindra Pisharody, Executive Director – Commercial Vehicles, Tata Motors said, “We have consistently been developing and manufacturing products that can contribute to CO2 reductions across all road transport segments and with early investments in new technologies, we are geared up to further strengthen our market leadership.”
February 10, 2017 No Comments