Mumbai, India-based Mahindra Group's wholly owned Houston-based subsidiary Mahindra USA plans to set up a greenfield manufacturing facility for tractors in the U.S. in the next three to five years. When asked about expanding operations, Mahindra USA president and CEO Mani Iyer said, "It makes sense down the line to...
Mobile Data and Subscribers to Grow Exponentially in India
A report by Mumbai-headquartered global analytical company CRISIL says that mobile data consumption in India grew 24 times in last five years, and is set to grow four-fold in the next five years through fiscal 2022, with data subscribers expected to double beyond 900 million and penetration reaching 80% from...
Marigold Capital Set to Acquire The Leela in Chennai
Mumbai-based private equity fund Marigold Capital and Investments is set to acquire the Leela Group’s 326-room hotel in Chennai, India, for approximately $109 million. The fund specializes in buying debt-ridden hotels and commercial real estate properties and turning them around. Mumbai-based JM Financial, an investment bank that is the advisor...
Female Filmmakers From India Shine on Global Stage
Female filmmakers of Indian origin are making history by standing out as award winning directors including Mira Nair (2016’s Queen of Katwe) and Deepa Mehta (2012’s Midnight’s Children) In 2015, Ruchika Oberoi won the FEDORA prize for best new director at the Venice Film Festival with her first feature, Island City. Konkona Sen...
KKR Invests $50 Million in India's Walchand Nagar Industries
New York City-based private equity firm KKR & Co., will invest $50 million (Rs 300 crore) in Mumbai-based Walchand Nagar Industries, one of India's oldest business groups. KKR has so far deployed around $4 billion in structured financing to business groups in India over the past seven years, and has...
UberEats launches in Mumbai
San Francisco-based Uber launched its initial UberEats service in Mumbai, and by the end of this year the company plans to expand this service to six cities in India. The country's online population is tipped to reach 450 million-465 million people by June 2017, according to a report co-authored by the Internet and...