Semiconductors and telecom major Qualcomm will invest $400 million to set up its largest facility outside its headquarters at San Diego, CA., at Hyderabad in India's southern state of Telangana. Phase-1 of the project will include a built-up space of 1.7 million square feet to house 10,000 employees. Qualcomm already...
Amazon Acquires 49 Percent of India Supermarket
Amazon and Mumbai-based private equity firm Samara Capital acquired Aditya Birla Retail Limited’s food and grocery retail chain More at an enterprise value of over $600 million. More is the fourth-largest supermarket chain in the country after Future Group's Big Bazaar, Reliance Retail and D-Mart. Samara Capital will acquire 51...
Amway India to Enhance Online Sales
Direct selling firm Amway India plans to strengthen its digital infrastructure to benefit from India's fast-growing e-commerce sales. Amway India CEO Anshu Budhraja said that in the next five years, the company will invest up to five million, which will be used to ensure that the company's "website stays relevant,...
Walmart Acquires 77% Stake in India's Flipkart
Bentonville, AR-based Walmart has acquired a 77% stake in Bangalore-based e-commerce company Flipkart for $16 billion. Walmart and Flipkart will remain separate brands with the goal of transitioning Flipkart to a publicly-listed, majority-owned subsidiary in the future. "India is one of the most attractive retail markets in the world, given...
Amazon Attributes Success in India to 'Glocalization'
In India since June 2013, Amazon took nearly three years to reach a seller base of 100,000. However, within twenty months, this base increased three-fold. Amazon’s strategy in India is 'Glocal'– the ability to think globally but act locally – adopting global principles of selection, pricing and convenience, while creating...
Fox's Star India Secures Indian Cricket Rights for $940 Million
Outbidding peers Sony Entertainment Television and Indian telecom major Reliance Jio, Fox’s Star India retained worldwide TV and digital rights for all international cricket matches to be played in India through 2023 in a $940 million deal. This agreement will bolster Star India's sports network, as well as boost content...