Europe's fourth-biggest retailer, Metro AG, said it wants India to become one of its "focus expansion countries", alongside Russia, China and Turkey. "We have seen continuous like-for-like growth recently in India. Now we decide to inject extra momentum into our expansion course there," Metro CEO Olaf Koch confirmed. The company...
Johnnie Walker Scotch Seeks 10% in India
As a result of the partnership with the largest spirits company in India, Diageo, the maker of Johnnie Walker Scotch and Smirnoff vodka is aiming to derive about ten per cent of its total business from the country according to Diageo’s Chief Executive Ivan Menezes. Diageo, the world’s largest distiller...
American Express invests in Bangalore Payment Device Maker
American Express Co., has bought a minority stake in Bangalore-based payment device maker Ezetap Mobile Solutions. Ezetap received venture funding of $10 million from a consortium of investors led by Helion Venture Partners. CEO Abhijit Bose, a former executive at mobile commerce platform ngpay, cofounded Ezetap in 2011 along with...
Cisco Grows at 20 percent in India on $1 billion base
Cisco, the Silicon Valley based networking giant get 2 per cent of its global revenues of over $48 billion from India, expected the number to grow to 5 per cent over the next five years on the back of growing demand for cloud and networking services. “Right now, India’s contribution...
India attracts 30 percent of BRICs FDI
According to the FDi report 2013, three of the BRICS countries namely India, China and Brazil, ended up in the top 5 destination countries for Foreign Direct Investment (FDI) globally in 2012. Collectively, they attracted 18% of all global FDI projects. Regarding India, is has attracted 30.02% of all the...
Tuebora becomes second Indian company to join Citrix Mentorship
Citrix Systems, the Software maker based in California, has chosen Tuebora, a Bangalore-based startup for an investment. The technology provider is the second Indian venture to make it to the Citrix Startup Accelerator in Silicon Valley after Grexit, chosen in 2011. Tuebora will now have access to Citrix products, partner channel and...