U.S. Tops All Destinations for India’s Engineering Products

Engineering Export Promotion Council of India — the apex body for Indian engineering exporters — says that the demand for Indian engineering goods in many of the developed economies and especially in the U.S. has increased sharply.

Shipments of engineering exports to the U.S. went up 91 percent to $1.53 billion in September 2017 from $551 million in the same month last fiscal year; the April-September exports increased by over 47 percent to $4.79 billion from $3.25 billion for the same period last year.

Gears

European nations falling under the top 25 engineering export destinations such as Germany, Italy, Belgium, Netherlands, France, and Poland also recorded considerable growth. Engineering exports to Germany saw a jump of over 67 per cent to $288 million in September 2017 over $172 million in the same month last fiscal. Likewise, the shipments to Italy rose by 30 percent to $209 million from $161 million for the same period last year, reports The Hindu.

 

November 8, 2017   No Comments

60 Global Food Brands to Set Up Outlets in India

More than 60 global food and beverage brands, including  U.S.-based Planet Hollywood and pizza chain Little Caesar’s, Singapore-based Sarpino’s Pizzeria, Finland’s Hesburger, and Dubai-based Ice Cream Lab are planning to enter India, investing an estimated $1 billion and opening as many as 5,000 outlets over the next five years.

These brands are seeking local partners to take advantage of the $60 billion food services market in India, according to FranGlobal, the overseas arm of Franchise India Holdings Ltd.

“Planet Hollywood and the connection with Bollywood is a marriage made in heaven. The symmetry and compatibility between the two is very strong. We are delighted to have the opportunity to introduce our brands in this huge, exciting and dynamic marketplace,” Alex Garland, managing director for Europe, Middle East and Asia at Planet Hollywood, said.

A Burger

LiveMint reports that according to a joint report published by the National Restaurants Association of India and consulting firm Technopak Advisors the food services market in India is projected to reach $74 billion (Rs4.98 trillion) by 2021. The market is growing at an annual average rate of 10%.

November 7, 2017   No Comments

Regional Languages Drive India Smartphone Sales Further

With nearly as many smartphone users as the U.S. has people, India is already one of the world’s hottest mobile markets, with America’s Apple, Korea’s Samsung, China’s Oppo, Vivo and Xiaomi jostling for market share with Indian brands such as Micromax.

Nubia Smartphone

India’s 300 million smartphone users could grow by more than 50% in the next few years, reports CNN Tech giving reasons for this:

  1. 1 billion Indians do not yet have a smartphone — a huge market opportunity.
  2. More than 66% of India’s 1.3 billion people still don’t have access to the Internet, and when they do so over the next decade, it will likely be through mobile devices. “Mobile has already become the primary device from which users access the internet,” says Shobhit Srivastava, an analyst at Counterpoint Research, a global industry analysis firm headquartered in Hong Kong.
  3. India has many regional languages, and many of the country’s newest mobile users are discovering the Internet in one of them. “One of the major reasons the smartphone hasn’t been able to penetrate rural or [smaller] cities is because it’s all in English. You need to have the regional languages, and a lot of players have understood that. They are investing in putting regional languages in their smartphones, turning this challenge into a differentiating factor for themselves,” Srivastava added.
  4. India has more than 100 smartphone brands catering to a variety of budgets.

October 4, 2017   No Comments

U.S. Invests the Most in India’s Startups

According to New York-based CB Insights, U.S.-based investors are the most active foreign participants in India’s start-up ecosystem over the past five years, making over 800 equity deals during the period.

In the list of top five foreign investors in India’s technology ecosystem, U.K., with 1% of deals stood at 5th place; Japan at 4th with 2% of deals; Hong Kong at 3rd with 3% of deals; Singapore at 2nd with 5% of deals; while the U.S. topped with four times the number of deals than investors from Singapore.

Planning in a startup

Business Standard reports: Of the U.S.-based investors, New York-based Tiger Global has been the most active, backing some of India’s largest start-ups, including Flipkart, Ola, and ShopClues, while also making numerous other investments in smaller companies. Hong Kong-based Saif Partners, has backed firms such as Paytm and Urban Ladder. California’s Accel Partners, which has an India unit, made its largest investment in Flipkart through its overseas unit rather than the local one.

Both Tiger Global and Japan-based Softbank have pumped billions of dollars in India’s startup ecosystem in the past few years.

August 31, 2017   No Comments

India Dominates Online Work Space

The Online Labor Index published by the ‘iLabor’ project of the Oxford Internet Institute, an affiliate of U.K.’s  University of Oxford, notes that India is the largest supplier of online labor. This report analyzed data for the first week of July, and reported that India is followed by Bangladesh, U.S., Pakistan, Philippines and the U.K. in what is being termed “digital gig work” or freelance work offered online.

The report analyses data from four online platforms – Fiverr, Freelancer, Guru, and PeoplePerHour. “Based on traffic statistics, we can estimate that these four sites represent at least 40% of the global market for platform-based online work,” says senior Oxford Internet Institute’s research fellow Vili Lehdonvirta.

Freelancing from home

Over half of the online work carried out in India is dominated by software development and the technology sector, followed by creative and multimedia services, and sales and marketing support, reports the Times of India.

 

July 22, 2017   No Comments