Chinese billionaire Guo Guangchang’s Shanghai-based Fosun Pharmaceutical Group has approached several private equity firms to buy its stake in Hyderabd India-based Gland Pharma according to a report in Money Control Reportedly, Advent International, Baring Private Equity Asia, Bain Capital, Blackstone, Carlyle and KKR are among those who have been approached....
U.S., India, 16 Allies Strengthen Supply Chains
U.S. Secretary of State Antony Blinken and Commerce Secretary Gina Raimondo co-hosted the Supply Chain Ministerial Forum virtually on July 19-20. A partnership was formed of 18 economies: the U.S. EU, Australia, Brazil, Canada, Congo, France, Germany, India, Indonesia, Italy, Japan, Mexico, Netherlands, South Korea, Singapore, Spain and the U.K....
Safran to Expand Footprint in India
French engine maker Safran, announced plans to invest $150 million in a maintenance, repair, and overhaul (MRO) facility in India. On July 5, during a visit to New Delhi, CEO of Safran Group Olivier Andries, told India's Minister for Defense, Rajnath Singh, that the company plans to open a maintenance...
French IT Firm Atos to Increase Headcount in India
With an existing workforce of 40,000 in India, Atos is planning to add another 15,000 employees in 2022. The €11 billion firm invests €400 million in India annually on employee-related expenses, including payroll and skill enhancing. Currently one-third of its revenues are accrued from the India office. This is due...
India’s Indigo Selects CFM Engines for Airbus Fleet
India's biggest airline IndiGo selected CFM International's LEAP-1A engines to power its fleet of 310 new Airbus A320neo, A321neo, and A321XLR aircraft. CFM International is a joint venture between GE Aviation, a division of General Electric of the U.S. and Safran Aircraft Engines of France. The joint venture was formed...
Washington Galvanizes as India Battles Covid-19 Tsunami
On April 6, 2020 , as the United States was pummeled by the Covid-19 pandemic, Time Magazine lamented how India had blocked exports of a malaria drug that held potential to treat novel coronavirus patients. The President of the United States tweeted asking India for help and within just six...