India’s second-largest airline, Jet Airways, is flying high on its recent deal with Etihad Airways with plans to set up more international hubs.
British estate agents Winkworth have launched an expansion programme across the Indian subcontinent with the opening of their first office in Bangalore.
The London-based agency plans to open offices across all major cities in India, with Chennai and Delhi branches planned for later this year.
Winkworth has plans to go against the grain of traditional Indian house purchases by working for only one party in each transaction rather than for both sides, as has locally been the case.
Narayanan Soundararajan, a former Royal Bank of Scotland banker, has taken on the master franchise for India and will look to build close relationships with credible property developers.
“India is a rapidly growing real estate market, particularly in the luxury segment, so there is a great opportunity for an international brand like Winkworth, that combines global expertise and local knowledge, to enter the market,” he said.
The Indian franchised offices will also work with Winkworth's UK network to offer support and advice to prospective clients looking to buy in the UK, and vice versa.
“The Indian property market has gone from strength to strength over the last decade and is now considered to be one of the most vibrant real estate markets in the world,” CEO Dominic Agace said.
G4S Plc, a UK-based global security company, plans to expand business in India and is looking at targeting sectors such as information technology (IT), infrastructure and hospitality.
Its $546.65-million India business operates via four companies, providing security guards, electronic security systems, facility services (cleaning, laundry, room service) and bullion and cash-moving services.
The company is looking at expanding through acquisitions and is likely to announce one in the facilities sector by the end of this year. It also plans to upgrade facilities in the cash business, area offices and its 36 training schools.
However, many of its investments are dependent on Indian government regulations and the constantly evolving foreign direct investment (FDI) laws.
Many foreign security companies are looking at the Indian security market, which is growing at a sustained rate of 18 per cent annually.
UK Chancellor George Osborne is among the many champions of the India growth story in the British Cabinet and is proud of the fact that he drives around in a Land Rover – owned by Tata Motors and a symbol of the healthy India-UK business links.
UK Chancellor George Osborne is among the many champions of the India growth story in the British Cabinet and is proud of the fact that he drives around in a Land Rover – owned by Tata Motors and a symbol of the healthy India-UK business links.
Britain’s leading insurance group, Aviva, plans to move around 600 jobs to India as part of cost-cutting measures.
The jobs affected are at its offices in York, Sheffield and Norwich and follows the company’s plans revealed last month to cut 6 per cent of its workforce, amounting to about 2,000 people in the UK, Europe and Asia.
It has now said the final total is likely to be much less, possibly around 400.
The changes would largely affect administrative posts in its life insurance operation, which are mostly based in York.
“After careful review we have identified around 600 roles where off-shoring will achieve significant cost savings. The number of full time employees impacted by this decision will be significantly less, as we expect at least a third of the role reductions to be met by closure of vacancies, temporary contracts, and natural turnover,” the London-headquartered firm said in a statement.
Union leaders said the move was a betrayal of its UK staff and believe the plans would affect hundreds of posts. Unite, one of the UK’s leading workers’ unions, claimed those jobs were being switched to Pune.
One of India’s largest integrated power companies, Tata Power, has signed an agreement to develop hydro power projects in Georgia.
Tata Motors’ owned Jaguar Land Rover (JLR) has set up a new engineering test centre in Dubai to conduct extreme hot weather vehicle research, development and testing.
With temperatures in the desert typically reaching 48 to 50 degrees Celsius in the summer months, the new 11,120 square feet facility in the Al Barsha area of the UAE city is to offer a comprehensive range of tests including durability, calibration and hot weather testing for heat and humidity.
The engineering team at the new centre, which replaces an existing smaller facility in Dubai, will also test power-trains, chassis and heat and ventilation systems, as well as the off-road and sand driving capability of Land Rover’s unique terrain response system.
JLR has a network of five global test facilities at Nurburgring, Germany; Arjeplog, Sweden; Phoenix and International Falls, US; and Dubai.
The new facility in Dubai is four times the size of the previous test centre and is aimed at enhancing its testing of future products and technologies.
The UK-based firm has already announced plans to invest around £2.75 billion in the current financial year on product creation and capital expenditure.
India’s second-largest bank, ICICI, has announced plans to offer a Money2India mobile application for non-resident Indians (NRIs) to track their money remittances to India.
The application will enable the bank’s registered users to avail themselves of the money transfer tracking service through their smartphones.
The application can be downloaded from the iOS App Store for iPhones and iPads, Android Marketplace and Windows 8 Store across five countries such as the US and UK, Canada Singapore and Hong Kong, ICICI said in a statement.
To use this service, users are required to complete a one-off online registration at Money2India.com. They can then track money transfers from any bank in eight countries – the US and UK, Canada, Sweden, Switzerland, Singapore, Hong Kong and UAE – to any account with over 100 banks in India.
“Customers or NRIs can now easily track exchange rates, status of their money transfer requests and place new requests for tracking from their mobile phones,” an ICICI Bank spokesperson said.
UK based Smith & Nephew PLC which is into medical technology business will acquire Indian firm Adler Mediequip Pvt. Ltd. and the brands and assets of Sushrut Surgicals Pvt. Ltd, producer of orthopaedic trauma products.
The acquisition will help Smith & Nephew enter the Indian market and provide a platform to export and develop products.
With sales going down in the European countries, the firm has set an expansion plan to tap emerging markets.
Sushrut Surgicals Pvt. Ltd. was incorporated in 1973 whereas its group company Adler Mediequip, was set up in 1993. Adler Mediequip is the exclusive manufacturing arm for the group's operations, with Sushrut Surgicals being the marketing arm.
As part of the agreement the work force of both the companies which include a total of 166 employees, will come under the London listed company.
Smith & Nephew has presence in more than 90 countries with around 10500 employees working under them.
