Two of India’s major telecom networks, Reliance Jio Infocomm Bharti Airtel and Bharti Airtel, have inked a historic pact to share infrastructure with the aim of making their operations more cost-effective.
“This (arrangement) will include optic fibre network – inter and intra city, submarine cable networks, towers and internet broadband services and other such opportunities identified in the future,” a joint statement by the two companies announced this week.
Mukesh Ambani led Reliance Jio Infocomm is the only company which has pan-India airwaves that can be used for 4G services and very high-speed wireless broadband services.
On the other hand, Sunil Bharti Mittal’s network is already the largest telecom operator in India. Airtel offer a gamut of telecom services, including 4G mobile broadband.
The statement added: “the pricing would be at 'arm's length', based on the prevailing market rates”.
Bharti and Reliance Jio are already in an agreement under which Bharti had provided capacity on its i2i submarine cable to Reliance Jio.
Japanese manufacturer of light commercial vehicles (LCVs) and sports utility vehicles (SUVs) Isuzu Motors is betting big on its India operations with plans to set up its first car plant in the country.
The company has made plans to set up a new factory in Sri City, Hyderabad, with an investment of $489 million. The plant will be operational by 2016 and will have the capacity to produce 120,000 units a year. The models to be produced there are yet to be announced.
The company plans to have a localisation of 70 per cent at its new facility, which will increase to 100 per cent over the period. It indicated that exports will be one of the key strategies for the India operations and it could become an export hub for the country.
In June 2013, the company had inked a contract manufacturing agreement with Hindustan Motors Limited post which it rolled out its first assembled SUV 'MU-7'.
It has eight dealer outlets in South India, which will increase to as many as 60 in the next two years.
American multinational retail corporation that runs chains of large discount department and warehouse stores, Walmart, is looking at expanding its Bangalore-based technology centre to compete with its e-commerce rival Amazon.
In 2011, the company set up Walmart Labs to help get its internet strategy right. It will set up teams to work on mobile applications and gather social media intelligence to make its e-commerce business more competitive. It plans to grow the company's information systems division that develops software products and applications that will help integrate its e-commerce platform with its traditional store business.
Walmart Labs has 200 employees in the US and the Bangalore centre has 400 employees. It plans to more than double the head count in India by the end of next year as it believes India will play a key role.
US retailers such as Amazon, Target, Sears and Tesco have well established back office technology teams in India and Bangalore is seen as a talent pool in emerging technologies.
Japanese firm CAC Corporation is planning to buy a stake in Chennai-based Information technology (IT) service firm Accel Frontline.
Both the companies have signed a definitive agreement under which CAC will become a strategic partner in Accel Frontline. CAC will acquire 51 per cent stake in the Indian company through purchase of equity shares from the promoters, subscription of new equity shares of the company and through open offer.
CAC is likely to bring in investments of about $21.24 million.
The joint venture will give CAC an immediate platform in the India IT services market, while Accel Frontline will be able to access CAC's relationship in Japan to provide IT services with India as a service hub.
CAC, which has 47 years of experience, specialises in providing services to the banking, manufacturing sectors.
Accel Frontline, which operates in over 100 locations in India and subsidiaries in Japan, offers Engineering and R&D services, Outsourced Product Development, IT Infrastructure Management, Managed Services and Enterprise Applications for the Banking, Telecom and Manufacturing sectors.
Indian drug firm Venus Remedies has signed a pact with South African pharmaceutical firm Austell Laboratories to exclusively out-license its flagship antibiotic product, Elores, in South Africa.
The company has signed a memorandum of understanding (MoU) with the South African firm and expects to launch the drug in South Africa by mid-2015. Venus Remedies is projected to generate cumulative revenue of $20 million within five years of the launch of Elores in South Africa.
Elores is a novel antibiotic adjuvant entity that effectively counters serious hospital-acquired infections caused by multidrug-resistant extended-spectrum beta-lactamase (ESBL) and metallo-beta-lactamase (MBL)-producing gram negative bacteria.
Venus has already filed the common technical document for Elores in Europe and is planning to take this product to other international markets.
Globally, the systemic antibacterial market, which is growing at a compounded annual growth rate of 7.2 per cent, is set to reach $44 billion by 2016.
DongFang, one of the largest manufacturers of power generators and contractors of power station projects in China, is in talks to acquire South Indian power equipment manufacturer Cethar.
The acquisition of the Trichy-based firm will help DongFang establish its presence in the country and also control its costs and comply with the localisation norms in India.
Cethar manufactures both sub-critical and super-critical boilers, used in power plants. It also designs and constructs thermal power plants up to a capacity of 800 megawatts.
Founded in 1984, DongFang takes the lead in China particularly in contracting international power stations and a wide variety of large engineering projects, and exports complete plants and equipment to over 30 countries, involving projects in diverse fields such as power generation, electric and mechanical works, power distribution etc.
The government has made it mandatory for foreign companies to have service centres in India and hence such companies prefer firms with a domestic presence.