Both Daimler and Volvo are making India their export hub for large trucks and luxury buses such as the Mercedes-Benz, Mitsubishi Fuso, Freightliner and UD Trucks. Daimler India Commercial Vehicles (DICV), the Indian subsidiary, has already begun exporting its Mercedes-Benz trucks and buses, made at its Chennai facility, to Southeast...
Global Finance Firms to Add Office Space in India
Even as they downsize their retail operations worldwide, Barclays Plc, Credit Suisse Group AG, Standard Chartered Plc and Citigroup Inc., are among global financial firms looking to add office space in India. Barclay Technologies Center India Ltd, an offshore unit of the London-based financial services firm, is planning to add...
India's Auto Part Maker to Build Factory in S. Carolina
Chennai India-based Sundaram Clayton Limited, a leading supplier of aluminum die castings to the automotive and non-automotive sectors, announced that it will establish its first American unit in Dorchester County, South Carolina, at an estimated cost of $50 million. The company has acquired 50 acres of land for its new facility,...
India's Institute of Technology Develops Cardio Implant
The Indian Institute of Technology Madras located in Chennai, India has developed Asia’s first ‘life-saving’ implant called SynkroScaff — A tissue engineered bovine pericardial patch — for critical cardiovascular patients. A Chennai-based firm, SynkroMax Biotech, has been appointed as the commercial partner. C.V. Seshadri, managing director of Synkromax Biotech said,...
Foreign Lenders Support Non Banking Systems in India
The Wall Street Journal reports that global players such as KKR & Co. L.P., headquartered in New York City, and Manhattan-based Goldman Sachs are actively involved in alternative lending in India. Though the amount of the loans being offered are far smaller than those disbursed by big banks, the sector...
Ford To Invest in Global Technology and Business Center in India
Dearborn, Michigan-based Ford Motor Co. said it will invest $195 million and create 3,000 jobs over the next five years for a new global technology and business center in Chennai, India. The site will feature 2.5 million square feet of floor space which will house engineers, IT, finance, accounting, data...