Food for thought
Cab firm Uber sees a new road ahead with plans to launch UberEats in India in the second quarter of this year.
UberEats has already started hiring staff including branding and sales executives in six cities – Pune, Mumbai, Hyderabad, Bengaluru, Chennai and Gurugram. The platform has started on-boarding restaurant partners in a bid to create a network.
Jobs on the line
Job loss fears have hit telecom tower firms as increasing consolidation among telecom service providers may hit their revenues, a report says.
Nearly 10 per cent of the around 60,000 employees in these infrastructure firms could be axed over the next year. Hiring by such firms has also been reduced sharply in the wake of the consolidation plan.
Ringing in India
Chinese smartphone brand Tecno is planning to enter the Indian market by setting up manufacturing, research and development centres, a report said.
Transsion Holdings will use its Indian facilities to export to its core markets in the Middle East and Africa. Four Tecno smartphones will be launched by the company next week in two phases as part of its India push.
Confidence booster
India has been ranked eighth, up one place from last year, in a key FDI confidence index.
The AT Kearney Foreign Direct Investment (FDI) Confidence Index took into consideration government and regulatory issues among others factors that investors use when deciding an investment decision.
Flying high
IndiGo is aggressively expanding in the Gulf region by increasing seating capacity 40 per cent in the past one year, a report said.
This comes as the airlines’ other competitors like Air India Express and Jet Airways are reducing seating capacity to the Gulf. However, Jet Airways says that its dominant position in the Gulf would e strengthened by its tie-up with Etihad. The Gulf is an important region for all airlines as there are millions of Indian expats working the there. It also serves as a hub for onward journey to Europe and other destinations.
Apple assembling phone
Apple plans to start “trial assembly’ of iPhones in India in May, a report said.
The company will go ahead with the plan despite not yet getting the green light for some of the concessions it has sought from the Indian government. Taiwanese firm Wistron, with has been contracted by Apple, will begin assembling the phones at its unit in Bengaluru.
Hyundai boost
South Korean carmaker Hyundai Motors’ Indian unit has crossed the vital $500 billion turnover mark, becoming the company’s fastest growing subsidiaries.
The landmark was achieved through two of its most popular models – the Elite i20 and Creta SUV. Hyundai Motors India also posted a profit of $289 million last year, a report said.
Consolidation on the cards
India’s $15 billion handset industry is heading for a consolidation due to increased competition, a survey said.
Analysts at Bank of America Merrill Lynch said that this was inevitable for the more than 100 brands present in the market. They said smaller companies will find it difficult to survive in the long run as competition heightens.
Offshore hiring
More than 11,500 people have been hired overseas by Tata Consultancy Services (TCS) during 2016-2017 in a bid to tackle visa-related challenges, a report said.
These include engineering graduates in the US. Hiring locals abroad increases operational costs for IT outsourcing companies.
Expansion eyed
Mobile-wallet firm MobiKwik is in talks with lenders to raise Rs. 1,000 crores to fund its expansion plans.
The expansion plan also includes taking over a rival, a report said.
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