New York-based Henry H. McVey,and Singapore-based Frances Lim, both KKR’s heads of global and Asia macro, said in an October note that Asia’s competitive advantage used to be inexpensive labor. Now, whether it’s China, India, or Japan, the region’s edge lies in industrial services. "The bid for infrastructure and logistics...
Micron Technology hires Tata Projects to Build Chip Packaging Plant
Mumbai-headquartered Tata Projects was awarded the contract to build Boise Idaho-based Micron Technology's $2.75 billion semiconductor plant in India's western state of Gujarat. An initial investment of $875 million will go into the establishment of the plant in two phases. The remaining investment will be supported by both the state...
India’s Consumer Market Soon to Become World’s Third Largest
According to a report by BMI, a company that is part of New York and London-headquartered Fitch Solutions, India’s consumer market is set to become the world’s third largest by 2027. Currently, India ranks fifth, but as the number of middle to high-income households rise, BMI predicts that a 29%...
India’s Reliance Jio Launches a $12 Internet-Enabled Phone
Reliance Jio, the telecommunications arm of India's Mumbai-based Reliance Industries, is enabling more Indians to gain access to the internet by launching its new internet-enabled phone with a 4G mobile network. There are about 250 million feature phone users in India, and many of them still use 2G phones and...
India’s Epsilon Advanced Materials to Set Up EV Battery Plant in U.S.
Mumbai, India-based battery material company, Epsilon Advanced Materials (EAM), will set up a greenfield electric vehicle battery component factory - the largest ever Indian investment in the U.S. electric vehicle battery industry. EAM will invest $650 million to establish an annual capacity of 50,000 tons of high-capacity synthetic graphite anode...
Apple CEO Tim Cook inaugurates stores in Mumbai and Delhi
Apple CEO Tim Cook inaugurated of the country’s first two retail stores, Apple BKC and Apple Saket, reports Bloomberg. Apple's first-ever retail store in India, called Apple BKC, opened on April 18. It is located at Jio World Mall, in the upscale area of Bandra Kurla Complex in Mumbai. Apple Saket opened...