India Economy Thread

CallSignMaverick · Dec 26, 2023

Dominos, plans to invest Rs 750 crore towards capex in FY24 to be spent for opening around 220 outlets, others.

Jubilant Foodworks To Invest Rs 750 Crore In FY24; To Open 220 Domino's Pizza Outlets

Jubilant FoodWorks Ltd., which operates the Domino's Pizza brand in India, plans to invest Rs 750 crore towards capital expenditure this fiscal to be spent for opening around 220 outlets and others.

www.ndtvprofit.com

BlackBerry strengthens global cybersecurity development with new hub in India

BlackBerry strengthens global cybersecurity development with new hub in India

BlackBerry's expansion of its software and services presence in India is a strategic complement to its existing teams in Canada, the United States, and Europe. The company plans to have a highly skilled workforce of over 100 employees at its India cybersecurity hub by the end of 2023.

www.indiatvnews.com

Lloyds Bank to open tech centre in India

Lloyds Bank to open tech centre in India | Computer Weekly

Lloyds Bank taps into Hyderabad tech ecosystem by opening a tech centre focused on improving digital experiences for customers.

www.computerweekly.com

Thyssenkrupp sets up new tech centre in India

https://www.financialexpress.com/industry/thyssenkrupp-sets-up-new-tech-centre-in-india/3099167/

Continental India to hire 1000 software engineers for Technical Center in Bengaluru

Continental India to hire up to 1000 software engineers for Technical Center in Bengaluru - ET Auto

Continental Technical Center India: Continental's TCI in Bengaluru is one of its largest and key R&D locations globally, catering to both the global and the local markets. The German technology giant is looking to hire software engineers to further support its new business areas including...

auto.economictimes.indiatimes.com

Citi to step up hiring at India in-house centres, says head HR Sara Wechter

Read more at:

Citi to step up hiring at India in-house centres, says head HR Sara Wechter

Citigroup plans to hire over 5,000 people at its captive technology centres in India over the next two years, increasing its total headcount to more than 32,000. The US bank will focus on areas including engineering, AI and analytics. The bank recently sold its consumer banking business in...

economictimes.indiatimes.com

Deutsche India expands tech operations in country, to hire thousands

https://www.business-standard.com/companies/interviews/deutsche-india-expands-tech-operations-plans-to-hire-in-thousands-123071000508_1.html

CallSignMaverick · Dec 26, 2023

CallSignMaverick · Dec 26, 2023

$9 billion investment to develop nearly 18 Gigawatt solar projects in Maharashtra

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GCCs of multinationals may hire half a million in India this fiscal

Huge numbers, would also mean office space absorption of more than 30 million square feet by GCCs alone. Great news for commercial office developers as well.

A combination of factors including wide availability of specialised skilled professionals, especially in the areas of technology, digital, analytics and AI, as well as a favourable cost environment make India a preferred destination, said top executives at Citi, PwC, EY and Grant Thornton.

According to EY estimates, the GCC headcount in the country is currently about 2 million.

This is estimated to increase to 4.5 million by 2030.

Citigroup, which recently exited its consumer banking business in India, is among those looking at a talent acquisition spree. Head of human resources Sara Wechter said Citi Solution Centres (CSCs) in India will hire at least 5,000 people in the next two years, taking the strength to more than 32,000 from 27,000 now. The focus will be on specialised skills in the areas of engineering, technology, analytics, AI, cloud and risk among others.

"India is a favoured ground for GCCs due to its robust engineering and technology arbitrage, along with a mature startup ecosystem," said Jaspreet Singh, partner, Grant Thornton Bharat. The emphasis on innovation, coupled with cost-effectiveness, enhances the appeal.

PwC India plans to double headcount at its Regional Delivery Centre in next two-three years, said Shirin Sehgal, deputy people officer.

"Over the last two years, our Regional Delivery Centre headcount has been increasing and stands at close to 10% of our total headcount," she said. "The range of services we offer has expanded to include more in-demand skill sets like digital transformation, cyber, forensics, analytics, cloud and emerging technologies like GenAI."

GCCS India: GCCs of multinationals may hire half a million in India this fiscal - The Economic Times

The in-house units of global companies in India across sectors such as banking, financial services and insurance (BFSI), pharmaceuticals, retail, energy, automotive and telecom are set to clock half a million gross hires, including attrition refills, this fiscal year, according to data from...

m.economictimes.com

CallSignMaverick · Dec 26, 2023

$4.25 billion contract for 100 Vande Bharat trains likely to be awarded to Alstom to manufacture them in India

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Asian Development Bank to set up International Fintech Institute in GIFT City

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Singapore and South East Asia's largest bank i.e. DBS Bank has also setup an International Financial Services Banking Unit in GIFT City

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DBS Targets US$1B in First Year of Operations at GIFT City in India - Fintech Singapore

DBS Bank has inaugurated its IFSC Banking Unit (IBU) in the Gujarat International Finance Tec-City (GIFT City) at Gandhinagar in India.

fintechnews.sg

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Temasek seeks partnerships to deploy $5 billion a year in India

Means $30 to $35 billion or more investments in India by 2030 by Temasek

Temasek seeks partnerships to deploy $5 billion a year in India - Times of India

India Business News: Singapore’s Temasek Holdings plans to invest up to $5bn annually in India, with intentions to hire around four or five new investment professionals to

timesofindia.indiatimes.com

OnePlus has inaugurated its latest OnePlus Experience Store at the Forum Mall, located on Konanakunte Cross, Kanakapura Road in Bengaluru. This new store, spanning 1711 square feet, aims to provide an immersive space to explore.

OnePlus opens its new Experience store in Bengaluru: Details

OnePlus has opened a new experience store in Bengaluru, India, showcasing its range of smartphones, TVs, and other products. The company is also rumored to be launching its flagship OnePlus 12 in December.

www.livemint.com

Japan's Marubeni expresses interest to establish high-tech industrial park in Kolar with ₹10,000 crore investment ($1.25 billion)

Japan's Marubeni expresses interest to establish high-tech industrial park in Kolar with Rs 10,000 crore investment

The proposed industrial park, spanning 720 acres of land, is planned to be developed in Bavanahalli near Vemagal, Kolar district, is expected to create 40,000 jobs

www.moneycontrol.com

UBS expects Havells' addressable market to reach $40 billion in five years, expects 46% upside

UBS expects Havells' addressable market to reach $40 billion in five years, expects 46% upside - CNBC TV18

According to the brokerage, Havells' estimated addressable market, which is currently around $25 billion is likely to grow up to $40 billion by 2028, registering a growth of 10 percent per annum.

www.cnbctv18.com

CallSignMaverick · Dec 26, 2023

This Japanese tech major is set to invest $2 billion in data centres across India

CallSignMaverick · Dec 26, 2023

SBI to fund $4.25 billion Adani PVC manufacturing project

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Industrial and warehousing park supply to touch 435 million sq ft, grow 15% in FY24: Report!

Industrial and warehousing park supply to touch 435 million sq ft, grow 15% in FY24: Report

The top five markets, Mumbai, NCR, Pune, Chennai, and Kolkata, accounted for 75-78 percent of total IWLP stock in India as of March 2023.

www.moneycontrol.com

India will have solar module manufacturing capacity of 100 GW per annum by 2026: Bhupinder Bhalla, Secy, MNRE

India will have solar module manufacturing capacity of 100 GW per annum by 2026: Bhupinder Bhalla, Secy, MNRE - ET EnergyWorld

Clean Energy Ministerial: This will not only make India self-sufficient in solar manufacturing but also enable us to export a significant part of our output and we are quite confident of achieving this, Bhalla said.

energy.economictimes.indiatimes.com

India's Auto Parts Manufacturing Industry To Reach $80 Billion By 2026 Thanks To MSMEs

Indias Auto Parts Manufacturing Industry To Reach $80 Billion By 2026 Thanks To MSMEs

The Indian Auto Component industry is witnessing remarkable growth in exports, currently valued at $13.3 billion in FY21.

zeenews.india.com

L&T Bags Mega Bullet Train Order In India Worth Nearly A Billion Dollars

L&T Bags Mega Bullet Train Order In India Worth Nearly A Billion Dollars

www.ndtv.com

Curlec by Razorpay targets over $2 billion annualised transaction value by 2025 in Malaysia

Curlec by Razorpay targets over $2 billion annualised transaction value by 2025 in Malaysia

Harshil Mathur, the Co-Founder & CEO of Razorpay, expressed optimism about the Malaysian market's growth potential. As of now, the digital economy in Malaysia is estimated to be around $20-21 billion, and it is projected to nearly double to almost $50 billion by the next year.

www.cnbctv18.com

CallSignMaverick · Dec 26, 2023

France based IT services giant Teleperformance to hire 60,000 people in India in the next 2 years

Currently, the company has centres in locations like Gurugram, Hyderabad, Mumbai, Chennai, Jaipur, Indore, and Mohali and is mulling to open additional centres in Noida, Bengaluru, Pune, and Hyderabad to fuel its growth plans.

The talent base is what makes India a strategic talent hub for Teleperformance, said Anish Mukker, CEO of Teleperformance in India. “India is doing lot of high-end non voice work already. And for that India has the best talent that any country has to offer, whether it is underwriting or financial planning or solving problems for customers…there is no other country that offers better talent,” Mukker told Business Standard.

https://www.business-standard.com/companies/news/teleperformance-to-hire-60-000-in-2-years-as-it-expands-india-operations-123072400668_1.html

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CallSignMaverick · Dec 26, 2023

CallSignMaverick · Dec 26, 2023

Indian IT industry expected to grow to $350 bn by 2030, to double employment

Indian IT industry on track to grow to $350B by 2030; 5M+ employ, double in 10 yrs; 8% GDP contribution; AI, 5G, Cloud, sustainable tech driving growth; need for infrastructure, skill enhancement, education & healthcare for vulnerable. #BengaluruTechSummit #ITIndustry #Growth

www.thehindubusinessline.com

Yantra To Invest Rs 100 Crore In India’s Generative AI Market

As part of its expansion plan, Yantra aims to hire 500 employees over the next two years.

www.bqprime.com

Foxconn to invest another $1.6 billion in India in China+1 push

Foxconn to invest NT$50B ($1.6B) in India to diversify outside China, expand footprint. Will create 14,000 jobs, build factories, explore semiconductor production. Chairman Young Liu says investment is only beginning, capex to grow more this year.

www.thehindubusinessline.com

Now $4.4 trillion!

Bharat Bio plans to invest ₹3-4K crore in post-Covid shift | Business Standard - newspaper - Lee esta historia en Magzter.com

Lea esta emocionante historia del número Business Standard de September 25, 2023. Not thinking about an IPO as of now, says chairman

www.magzter.com

Make In India Push: Govt Targets To Raise Local Sourcing of IT Parts To $20 Billion

The government is not happy with the heavy dependence on China, and does not find the current ecosystem of component sourcing healthy, says an official

www.news18.com

Bloomberg - Are you a robot?

Goldman Sees India Bond Inclusion Spurring $40 Billion Inflows

Goldman Sachs Group Inc. sees India’s inclusion to JPMorgan’s key emerging market index spurring inflows upwards of $40 billion to the country’s bonds markets over the next 18 months.

www.bqprime.com

Bloomberg - Are you a robot?

Casio to start local manufacturing of watches in India by the end of 2023

NEW DELHI: Leading Japanese consumer electronics maker Casio would start local manufacturing of watches by the end of this year in India, which is a priority ma

www.newindianexpress.com

PE-VC Investments Increase To $5.2 Billion In August As Large Deals Shoot Up

PE/VC funds raised $1.5 billion compared to $583 million in August 2022, as per the report.

www.bqprime.com

Schneider Electric India plans to invest ₹ 3,200 Crore by 2026: CEO & MD Deepak Sharma

Schneider Electric India has lined up an investment of Rs 3,200 crore by 2026 to increase its footprint in the country, company's CEO & MD Deepak Sharma said.

tradebrains.in

Exclusive | Boeing eyes India as upcoming MRO hub, aims to ramp up sourcing to Rs 10,000 crore - CNBC TV18

Boeing has delivered 12 P8 aircraft which have a cumulative flying hour of more than 40,000. P8 is a maritime patrol and reconnaissance aircraft. The company is in talks with the Indian Navy to add 6 extra P8 to the Navy's fleet.

www.cnbctv18.com

https://www.manufacturingtodayindia.com/sectors/micron-breaks-ground-for-2-75-billion-semiconductor-plant-in-gujarat-under-india-semiconductor-mission

India's economy projected to reach $7.3 trillion by 2030

in.investing.com

CallSignMaverick · Dec 26, 2023

CallSignMaverick · Dec 26, 2023

CallSignMaverick · Dec 26, 2023

On American shelves, Made-in-India is slowly replacing Made-in-China

While US goods imports from China declined by 10% from 2018 through 2022 in inflation-adjusted terms, they rose by 44% from India, 18% from Mexico and 65% from the 10 countries of the Association of Southeast Asian Nations (ASEAN), a recent study by Boston Consulting Group has pointed out.

economictimes.indiatimes.com

CapitaLand India Trust secures Rs 1,300-crore construction loan for Navi Mumbai data centre

Navi Mumbai real estate update: The company said that construction of the data centre has commenced and is scheduled for completion by mid-2025.

www.moneycontrol.com

Adani Enterprises aims big on data centers with $1.5 billion capex planned

Adani Enterprises is planning to build nine data centers and targeting a total capacity of 1 gigawatt by 2030. This will provide infrastructure for the booming digital services demand in the nation of 1.4 billion people thats already luring the biggest global firms such as Amazon.com Inc and Google.

economictimes.indiatimes.com

InoxGFL bets big on battery chemicals in $1 bn investment

In an interview, Devansh Jain, executive director, InoxGFL said the factory investment is in the initial phase of discussions

www.livemint.com

Aequs bags 10-year deal to supply parts to Airbus

Belagavi-based precision manufacturing company Aequs has secured a 10-year contract to produce parts for Airbus' A320, A330neo, and A350 aircraft. The agreement involves manufacturing detailed parts and bench assembly for wings, fuselage, and pylons of Airbus' single-aisle family of aircraft.

economictimes.indiatimes.com

Amazon Expands Renewable Energy Footprint In India With 198 MW Wind Farm

The wind farm in Osmanabad is the seventh utility-scale renewable energy project announced by Amazon in India within the past year.

inc42.com

Tesla ready to invest $2B to build in India

in.investing.com

4e829855-5b12-42dd-a10f-d3521feb6f5d (1).png

Adani Group’s $1.1 bn copper project to start operations from March 2024

Adani, at the company's AGM a few days back, stated, "Of the several projects underway, two of the key ones include the Navi Mumbai Airport and the Copper Smelter, and both are on schedule".

indianexpress.com

Zetwerk plans to invest ₹1000 crore in electronics manufacturing

Zetwerk, a manufacturing unicorn, plans to invest ₹1000 cr to expand its consumer electronics manufacturing. It aims to enter EV, IT hardware, and laptop categories, and is in talks with international brands. It currently produces 1 mn devices/month and is looking to tie-up with govt. to access...

www.thehindubusinessline.com

Bloomberg - Are you a robot?

Indian startups raised over $1.2 Bn in October: Report

Monthly Report Highlights: Funding in October 2023 is on par with the same month a year ago (October 2022).

entrackr.com

Apple nears $10 bn India revenue

The revenue estimates come on the back of 47.8% growth in sales to $5.9 billion and strong profitability growth in India

www.livemint.com

No Nation in the World Is Buying More Planes Than India. Here’s Why.

While most Indians travel by road or rail, the country is engaged in a major expansion of its aviation industry to serve the needs of its middle class.

www.nytimes.com

Carrier to invest $800 million in India over the next 5 years, says CEO - CNBC TV18

Carrier CEO aims for double-digit growth in India

www.cnbctv18.com

Dhruva Space to build 2.8 lakh sq ft satellite infra manufacturing facility in Hyderabad

Dhruva Space expects to finish the construction of the first phase of the manufacturing plant in the next 18-24 months

www.moneycontrol.com

Emaar India to Invest $1.85 Billion for Growth

Emaar India's $1.85B investment marks a major leap

www.constructionworld.in

India leaves Europe behind in 5G network expansion

Ivan Razon, Vice President of Strategy and Corporate Affairs at Ericsson, underscored India's 5G Standalone availability, while also noting a substantial lag in progress in Europe.

www.moneycontrol.com

India's Electricity Demand Just For ACs To Exceed Africa's Total Consumption

India's demand for electricity for running household air conditioners is estimated to expand nine-fold by 2050 and will exceed total power consumption in the whole of Africa today, the International Energy Agency (IEA) said today.

www.ndtv.com

Krypton Solutions likely to invest $100 million in Karnataka

Noting that Texas Instruments was the first technology company to set up an R&D centre in Bengaluru in 1985, the release said, the company's R&D centre in the city is the largest outside of the Texas Instruments’ headquarters in Dallas.

www.moneycontrol.com

India could host 200+ unicorns by 2025, says USIBC Chairman Edward Knight - CNBC TV18

India and US can collaborate on artificial intelligence and cybersecurity, says Edward Knight, Chairman of USIBC

www.cnbctv18.com

Renaissance Solar And Electronic Materials Plans $300 Million Investment Following Its Official Launch

The launch of RSOLEC aligns with India’s "Atmanirbhar Bharat" mission, showcasing the country's capabilities in the solar value chain

startup.outlookindia.com

Sify to invest ₹9,000 crore in six years on data centres

Sify Technologies is investing ₹9,000 crore in the next 5-6 yrs to expand its data centre capacity from 100 MW to 350 MW. The company is investing ₹3,000 crore in current projects, and another ₹3,000 crore in new projects in Chennai, Mumbai, Noida and Bengaluru. The next phase of expansion will...

www.thehindubusinessline.com

India tops AIIB's project funding list with $10 billion allocation By Investing.com

India tops AIIB's project funding list with $10 billion allocation

www.investing.com

India aiming to monetize $24 billion worth of highways by 2027

With 4,000 kilometers to 4,500 kilometers (2,796.2 miles) of new roads likely to be commissioned annually by the National Highways Authority of India over the next three years, the government can monetize these assets through a Infrastructure Investment Trust or toll-operate-transfer model...

www.moneycontrol.com

Data centers to attract $10bn investments over next 3-years: CII-Colliers - Times of India

India Business News: NEW DELHI: Data centres are likely to attract investments of $10 billion in the next three years on rising demand for storage capacity with a sharp gr.

timesofindia.indiatimes.com

VVDN to make 4G, 5G modules for Italy's Telit Cinterion

This is the first time such modules will be manufactured in India.

www.livemint.com

E-commerce To Grow To $300 Billion By 2030, Shipments By 3rd-Party Logistics Firms To 17 billion: Redseer

According to the report, as the third party logistics (3PL) scales up, the cost per shipment is projected to decrease by 23%, dropping from Rs 60 in 2023 to Rs 47 by 2030.

www.bqprime.com

SOLIS-IDC to invest USD 2 bn in India to set-up data center

With a strong presence in the global tech industry, the company's decision to invest in India is expected to have far-reaching implications for the country's digital ecosystem.

cio.economictimes.indiatimes.com

JPMorgan M&A Head Sees Up to $150 Billion Funds Focused on India

Investors have about $2 trillion of funds available to invest, and about $100 billion to $150 billion of that is focused on India, according to Anu Aiyengar, JPMorgan Chase & Co.’s global head of mergers and acquisitions.

www.bloomberg.com

CallSignMaverick · Dec 26, 2023

If we look at the global Electronics Manufacturing Services (EMS) space, India formed a small part of around 2.2% two years ago, but it is expected to grow the fastest at 32% CAGR from 2021 to 2026.

Electronics manufacturing poised for breakthrough growth

www.deccanherald.com

Gogoro has already committed to investing $1.5 billion in western Maharashtra state including in a factory where it will build its CrossOver e-scooter in partnership with Foxconn, Horace Luke told reporters in New Delhi.

Gogoro to make e-scooter bikes in India, rolls out battery swap network

Gogoro has already committed to investing $1.5 billion in western Maharashtra state including in a factory where it will build its CrossOver e-scooter in partnership with Foxconn, Horace Luke told reporters in New Delhi.

economictimes.indiatimes.com

CallSignMaverick · Dec 26, 2023

Foxconn to invest additional $1.7 billion in India’s Karnataka state

Foxconn to invest additional $1.7 billion in India's Karnataka state

(Reuters) - Apple supplier Foxconn plans to invest an additional 139.11 billion rupees ($1.67 billion) in India's Karnataka state, the state government said in a statement on Tuesday. ($1 = 83.3900

theprint.in

CallSignMaverick · Dec 26, 2023

India Economy Thread

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BlackBerry strengthens global cybersecurity development with new hub in India​

Lloyds Bank to open tech centre in India​

Thyssenkrupp sets up new tech centre in India​

Deutsche India expands tech operations in country, to hire thousands​

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GCCs of multinationals may hire half a million in India this fiscal​

Registered Member

Temasek seeks partnerships to deploy $5 billion a year in India​

Japan's Marubeni expresses interest to establish high-tech industrial park in Kolar with ₹10,000 crore investment ($1.25 billion)​

UBS expects Havells' addressable market to reach $40 billion in five years, expects 46% upside​

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This Japanese tech major is set to invest $2 billion in data centres across India​

Registered Member

Industrial and warehousing park supply to touch 435 million sq ft, grow 15% in FY24: Report!​

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France based IT services giant Teleperformance to hire 60,000 people in India in the next 2 years​

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Registered Member

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Amazon Expands Renewable Energy Footprint In India With 198 MW Wind Farm​

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BlackBerry strengthens global cybersecurity development with new hub in India

Lloyds Bank to open tech centre in India

Thyssenkrupp sets up new tech centre in India

Deutsche India expands tech operations in country, to hire thousands

GCCs of multinationals may hire half a million in India this fiscal

Temasek seeks partnerships to deploy $5 billion a year in India

Japan's Marubeni expresses interest to establish high-tech industrial park in Kolar with ₹10,000 crore investment ($1.25 billion)

UBS expects Havells' addressable market to reach $40 billion in five years, expects 46% upside

This Japanese tech major is set to invest $2 billion in data centres across India

Industrial and warehousing park supply to touch 435 million sq ft, grow 15% in FY24: Report!

France based IT services giant Teleperformance to hire 60,000 people in India in the next 2 years

Amazon Expands Renewable Energy Footprint In India With 198 MW Wind Farm