U.S. Fashion Designer Connects East with West

Ruby Bhandari‘s passion for designing began even as she was a teenager. Born in New York of Indian descent, the University of Texas, Austin graduate set up Silk Threads in northwest Dallas where she offers ready-to-wear or custom-designed dresses, custom bridal wear, Indian American styles, and fusion menswear.

Her creations are manufactured in a factory in New Delhi, where junior designers procure the fabric and get it dyed according to a customer’s specifications, and artisans start on the embroidery. On request, the company will send pictures of the order in progress, and if needed, at an extra cost, it also arranges to courier swatches of the embroidery that is being done on a specific apparel.

Ruby Bhandari in her factory at Delhi

Ruby Bhandari in her factory at Delhi

Bhandari has expanded her designs to include royal blue and silver items in honor of the Dallas Cowboys, and she just launched a collection of destination bridal wear, reports Dallas News.

August 29, 2017   No Comments

Some of IBM’s Biggest Successes Developed in India

New York-based IBM, runs four parallel research organizations: IBM Software Labs, IBM Research Labs, IBM Global Technology Services Labs and IBM Hardware Labs. All the four are present in Bangalore, India.

The Global Technology Services (GTS), the most recent of these labs, was set up in November 2016, and is headed by Gopal Pingali. Within nine months of its formation, the lab, which includes 1,000 researchers spread across 20 countries and all reporting to Pingali, filed for 150 patents and launched 10 products for global markets. “GTS Labs is a worldwide lab with [its] center of gravity in India, which is the services delivery capital of the world. We also have the largest developer (programmer) ecosystem in the world. Therefore, especially for services, it makes sense driving GTS labs from here,” Pingali said.

IBM Logo

Watson — a cognitive software platform that can mimic human brain and help solve problems which the traditional computers have so far been unable to — is driven from India. Scientists from IBM’s research lab in India were part of a core team that did the early ground work on blockchain, the technology behind digital currency bitcoin, for enterprises and business networks. India is a key global center of excellence in this space within the company, reports BusinessLine.

Vanitha Narayanan, chairman, IBM India Private Limited, said, “Our labs in India have been at the forefront in developing solutions like IoT for agriculture, and cognitive fashion which are being leveraged not only by local but global clients as well. In India, we have created a pool of innovations that can be applied both globally and in the domestic market.”

August 12, 2017   No Comments

Warburg Pincus to Invest in India’s Tata Technologies

New York-based private equity firm Warburg Pincus will invest $360 million in Tata Technologies for a 43 percent stake, of which 30 percent will be acquired from Tata Motors, the parent company, and 13 percent from Tata Capital.

Tata Technologies Logo

Tata Technologies provides outsourced design, research and development services to the automotive, aerospace, and industrial machinery industries, and has about 8,500 employees in 23 countries. Warren Harris CEO of Tata Technologies said, “As the engineering services outsourcing market has matured from cost arbitrage and staff augmentation to increasingly high-end, strategic work, Tata Technologies has been there leading the charge.”

Vishal Mahadevia, managing director and co-head of Warburg Pincus India, said that the PE firm will leverage its global network and prior experience in the engineering services sector to help Tata Technologies grow both organically and through acquisitions, reports Bloomberg.

 

June 19, 2017   No Comments

India Best Country for Wall Street Says Forbes

New York-based Wisdom Tree, that pioneered the concept of fundamentally weighted Exchange Traded Funds (ETFs) and active ETFs, says  that its India Earnings (EPI) Fund is up 12.8% year-to-date and is ahead of China, Indonesia, Thailand, Vietnam, South Korea and Japan.

Gaurav Sinha, strategist for Wisdom Tree said, “If you look across the countries the IMF tracks worldwide, how many can you name that are growing over 7%? Iraq, Myanmar and India, and India is the only large economy that has those numbers and that you can buy in the equity markets.”

Indian Currency

Forbes reports: “Prime Minister Modi continues his plans to cut red tape, root out corruption, upgrade infrastructure, improve the fiscal position. No trade drama. No political crisis. No wars and rumors of wars. Reliable central bank. Stable government. A little expensive, but these days, who cares?”

India’s recent demonetization caused a temporary economic slowdown; however, recent company visits confirm that the economy is beginning to normalize.  Gerardo Zamorano, director of the investment group for Brandes in San Diego says, “From my perspective, that policy [demonitization] did not change the long term outlook on India that much. If you’re the owner of a car dealer or a restaurant business, this might affect you next week or so, but not for a decade. That’s how we think of India. It’s a long term investment for Brandes.”

Robin Parbrook, head of Asia ex-Japan equities at Schroders, says India remains the best domestic story in Asia at the moment. “The base is low in India, so the building of roads, provision of mobile telecom networks, formal banking to the masses, and rooting out of middlemen and corruption can all make a big difference, ” he feels.

 

 

 

March 5, 2017   No Comments

KKR’s New India Credit Fund Raises $160 Million

VCCircle reports that New York-based private equity firm Kohlberg Kravis Roberts & Co Ltd., (KKR) marked the pre-close of its second India-focused credit fund at $160 million, with the aim of finally closing  at $298 million  in a few months.  The company will invest in structured credit situations in either promoter holding entities or companies over two to three years.

B.V. Krishnan, head of KKR’s credit and capital markets business in India, told the Economic Times, “The idea is to back quality promoters and good businesses, helping them create a proper capital structure by cleaning up short-term liabilities, providing grown capital, and in some cases helping them consolidate their equity ownership.” The fund will have a private-equity approach for a debt market “which has done extremely well for us,” he added.

US Currency

KKR has been an active investor in India through both its PE and credit portfolio businesses; it is also active in the non-banking finance sector in India to give a push to its credit business.

 

January 9, 2017   No Comments