Blackstone Puts Big Money in Indian Real Estate

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.

Real Estate

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

AkzoNobel Inaugurates Specialty Coatings Facility in India

AkzoNobel a Dutch multinational company in paints, coatings and specialty chemicals has set up a first-of-its-kind Specialty Coatings production facility and color laboratory in the satellite town of Noida 15 miles from New Delhi, reports BusinessWire, India.

Alberto Slikta, managing director, Specialty Coatings, AkzoNobel, said, “India is a key market for our growth strategy and this facility will enable us to further strengthen our position as a leading producer while supporting the supply network. Additionally, this market shows signs of a high demand for consumer durables and electronics. As demand and volumes rise, we will continue to fortify our footprint in high-growth economies such as India.”

AkzoNobel Logo

AkzoNobel India has been operating in the country for over 60 years. It currently has six manufacturing sites, two research centers, and a network of over 8,800 dealers and distributors.

December 28, 2016   No Comments

Fair Wear Foundation Reports Improvements in India’s Apparel Industry

A report by multi stakeholder Fair Wear Foundation, a European initiative working to improve workplace conditions in the garment and textile industry, highlights positive factors in India’s garment industry.

Apparel Resources reports that Fair Wear Foundation India Country Study 2016 found no child labor in the garment industry of the country now as compared to the year 2000. Similarly there is no discrimination either on the basis of religion or caste, and women get ‘equal pay’ for ‘equal work’ just as men do.

Fair Wear Foundation

The audit was conducted in garment manufacturing hubs such as Delhi, and Noida in the north, and in Tirupur and in the state of Karnataka in the south, between 2013 and 2016. However, during the time of audit, it was found that 2-3 factories employed workers who were 15 to 18 years old.

 

September 19, 2016   No Comments

Uflex Engineers “Seal of Authenticity” for Nestle India

Flexible packaging  company Uflex Ltd., located in Noida, India, has created a 3-D seal for Nescafe instant coffee manufactured by Nestle India. The ‘Seal of Authenticity’ is an engineered tamper-proof brand protection / anti-counterfeiting solution that does not disturb the retail price coordinates. The seal, among several other features, comprises an innovative 3D reflective lens image using transfer technology, reports beveragedaily.com.

Uflex Holographic Division

 

In a 2015 joint study by KPMG and industry body FICCI,  consumer product counterfeitingwas estimated at $1.4 billion annually in India.

Ashok Chaturvedi, CEO of  Uflex Limited said, “The Seal of Authenticity has imposed an insurmountable technology, application and process know-how barrier, in the brand protection arena. We have raised the bar of competition in the best interest of our clients.”

August 16, 2016   No Comments

Kronos Scales Technology Operations in India

Kronos Incorporated, a multi-national workforce management software and services company headquartered in Chelmsford, Massachusetts, will increase its India headcount by around 25 per cent over the next four years. The company’s India R&D center is the second largest outside the U.S. where it employs 700 people, reports The Hindu.

Kronos logo

“India is an emerging market for us and we want to significantly grow the India business. We are scaling our operations in India and localizing our product to make it more relevant to this diverse country,” said Aron Ain, Chief Executive Officer, Kronos Inc. The company is also introducing Hindi language in Kronos InTouch a solution sold in India.

Kronos is also planning to open a customer experience center in Noida, near New Delhi. The live lab in Noida will enable clients to experience Kronos products. The center – the first outside the U.S. – will be set up at a cost of $150,000  and will be launched in the second half of this year. This center will aim to drive engagement between customers and engineering teams enabling Kronos to tailor offerings in line with market expectations in the region.

May 12, 2016   No Comments