Inverter solution supplier for renewables, Sungrow Power Supply Company Limited, launched a manufacturing facility at Bangalore, India. The facility, the first of its kind outside of China, has an annual production capacity of 3 GW of central and string inverters for its clients in India, the U.S., Europe, Japan and...
India Overtakes France as Sixth Largest Economy
Per the World Bank's updated data for 2017, India edged past France to become the world's sixth-largest economy. India's gross domestic product stood at $2.597 trillion at the end of last year while the French economy was valued at $2.582 trillion. The U.S. remains the world's largest economy with a...
150 Pharma Manufacturing Units Approved in Gujarat, India
The Gujarat Food and Drug Control Administration approved layout designs of 150 pharmaceutical companies including Illinois-based Abbott, Baxter, Israel-based Teva, Japanese company Otsuka Pharmaceutical, among others, from July 2017 onward. The manufacturing units include APIs, formulations, and medical device units. In Gujarat, a manufacturing park which will help reduce capital...
Virginia Tech Develops Grape Harvesters in India
Virginia Polytechnic Institute and State University in partnership with India's Mahindra & Mahindra Ltd.‘s farm equipment division will develop grape-picking robots. Known as the Mahindra AgTech Center, the facility will complement the ongoing work in product development centers at Mahindra Research Valley in India, Japan, and Finland to create a...
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...
Blackstone's New Asia Fund to Invest $2.4 Billion in India
New York City-based Blackstone Group L.P. will invest 60% of its maiden $4 billion Asia-focused fund—BCP Asia—in India. Blackstone’s global private equity fund will contribute around 40% of the deal value for every transaction the firm does in Asia, while BCP Asia will invest the balance. Blackstone, which manages $430...