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...
GSK Partners with India's Syngene for R&D
U.K.-based pharmaceutical company GlaxoSmithKline, popularly known as GSK, signed an R&D agreement with Syngene International, a global contract research services company based in Bangalore, India. The multi-year agreement will focus on accelerating the discovery of new drug candidates with the potential to address some of the world’s most pressing healthcare needs....
ThoughtSpot Invests $10 Million in India R&D Center
Palo Alto, CA-based business intelligence and big data analytics platform ThoughtSpot expanded its engineering operations by establishing an India Engineering Center in Bangalore. This research and development hub is ThoughtSpot’s first in the Asia Pacific region and third globally, complementing offices in Seattle, Washington and its Silicon Valley headquarters. The Center will accelerate the development...
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...
Reverse Innovating in India, for India and the World
In India, GE innovates on products and services that are relevant to the Indian market, and these innovations are then taken to global markets. This concept is being adopted by many U.S. and European multinational companies in the country. To solve the challenge of electrification of rural households, GE created...
Gap Launches India-Specific Product Line
San Francisco, CA-based Gap Inc., along with its India joint venture partner Arvind Lifestyle Brands, rolled out a range of products customized according to the fit, color, and design preferences that appeal to Indian consumers. Parag Dani, business head for Gap at Arvind Lifestyle Brands India, explained that the range was...