India’s leading communication services provider, Tata Communications Limited, has signed a five-year voice sourcing deal with US-based Vonage Holdings.
The New Jersey headquartered Internet telephony firm will get access to Tata Comm’s global network and ongoing investments in systems, tools and processes to improve voice call quality. These resources will help improve operational efficiency and the delivery of superior international call quality for customers.
Helical Auto Technology India Private Limited, a subsidiary of the UK-based Helical Technology Limited, has set up a modern manufacturing unit in Pune.
The new plant will produce actuators and valve rotators and cater to the growing need of the Indian market.
With an annual installed capacity of 4 million units, the new facility is the result of an investment of around Rs 16 crore.
The company also plans to design parts of some components required specifically by Indian customers, catering to Indian engine manufacturers such as Cummins India, Honeywell, Turbo Energy and all the major manufacturers in the country.
The British firm will set up a separate dedicated assembly line to produce exhaust valves for luxury passenger and commercial vehicles such as Mercedes-Benz, BMW, Audi, Porsche, among others.
Manufacturing components in India will reduce cost by 25-30 per cent as compared to the imported units from its two plants in China and the UK.
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.
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.
India’s leading telecommunication firm, Tata Communications, has revealed plans to delist from the New York Stock Exchange (NYSE) due to low trade volumes.
India has become the 54th country to join the Enterprise Europe Network (EEN) in a bid to facilitate trade, investment and technology between companies in India and the European Union (EU).
The EEN works through local business organisations to help small and medium enterprises (SMEs) make the most of the European marketplace. India's entry into the EEN will give the country's SMEs access to Europe's large database of cutting-edge technology, with companies from the 27-member bloc both offering and seeking research and commercial applications in 17 sectors, including agro-food, automotive, transportation and logistics, biotech and healthcare.
The latest consortium is led by the European Business and Technology Centre, which helps the business, science and research community in Europe and India, generating new business opportunities and encouraging cooperation. This centre works closely with other existing networks, initiatives, partners and institutions, with a focused knowledge of Indian market sectors such as biotechnology, energy, environment, transport and trade.
Another partner is the Confederation of Indian Industry (CII), which serves more than 90,000 companies. The Federation of Indian Export Organisations is the third partner, focusing on the promotion of Indian exports and run by the Indian ministry of commerce and private trade and industry.
The EEN serves as a one-stop shop for enterprises looking to go global with their innovative ideas.
One of the world’s largest India-focused infrastructure funds, London-listed 3i Infrastructure, is pulling out of the country along with all its portfolio companies.
The move follows a period of poor returns and failure to meet investor expectations due to slowing growth.
The 3i Group, which launched a $1.2-billion fund in India five years ago, now plans to focus on Europe where it has reportedly earned strong returns.
The company board has decided to gradually sell all its India holdings and not invest the proceeds back into the region.
While the firm claims to be upbeat about infrastructure development in the country, it believes that private infrastructure investment in India has faced more political, market and macro-economic challenges than they had initially envisioned.
The 3i India Fund had invested around $875 million in seven firms.
“Macroeconomic, market and regulatory conditions in India have been more challenging than initially expected when the company committed to the India Fund in 2007. This investment has not, to date, delivered the premium risk adjusted returns that were expected and has brought unwelcome volatility to overall portfolio performance. On this basis, the board has decided that the company will make no further new investment in India or emerging markets, lowering overall portfolio return volatility,” 3i Infrastructure said in a statement this week.
Indian information technology firm, Tech Mahindra, has announced a partnership with Falcorp to launch Tech Mahindra South Africa to cater to demand from telecom and media companies in the region.
“The launch of Tech Mahindra South Africa follows an announcement in 2011 to reinforce its leadership and focus on its African operations,” the company said in a statement this week.
“Tech Mahindra South Africa will help create local job opportunities and invest heavily in skills development and employment over a period of 12 months,” the statement added.
A dedicated talent exchange programme for the transfer of skills between India and South Africa is also in the pipeline.
“Tech Mahindra will bring its full range of network and mobility offerings including of design, building, implementing and support for the telecom sector to the African information and communication technologies (ICT) sector,” the company said.
Tech Mahindra and Mahindra Satyam, both part of the $15-billion Mahindra Group, together employ close to 300 associates in South Africa.
The newly-formed company will be a Level 3 Broad-Based Black Economic Empowered (B-BBEE) firm.
As part of the B-BEEE strategy, the company will target to have approximately 65 per cent in local preferential procurement, a corporate social investment plan as well as a leadership and internship programme.
India’s Sobha Group which is into property development has formed a joint venture (JV) with Dubai based Meydan Group to build a township in Dubai spread across 1000 acres of land.
The JV will be called Meydan Sobha FZ LLC and both the firms will hold equal stake.
The project would include 1500 luxury villas, a 350000 square meter water park, seven km of lagoons and man-made beaches, retail zones and sports attractions.
They have divided the project into four phases and expect to complete the same in seven years. The work for the first phase has already started will take three years to complete.
Named ‘Mohammed bin Rashid City — District One’ is located alongside Al-Khail Road, adjacent to the Meydan Racecourse and less than 3 km from Dubai’s key financial, leisure and shopping districts.
It will have the world biggest shopping malls, 100 hotels and a park larger than London’s Hyde Park.
Currently Sobha has 38 ongoing residential projects and 47 ongoing contractual projects.
