JV PARTNER
ET Prime Special Series: Multibagger or IBC - Part 82: This auto ancillary’s name tells only 20% of the story. What’s the other 80%?
The shift towards electric vehicles, or EVs, is forcing traditional auto-component suppliers to reconsider their future. For some, it threatens core products. For others, it creates opportunities in components that can survive the death of the combustion engine. This supplier finds itself on both sides of that transition. Its original business is exposed to ICE vehicles, while its manufacturing division has developed products relevant to EVs. Alongside, the company is pursuing other initiatives. Will these translate into stronger profits, or will rising financial obligations limit the benefits?
JSW Steel and Japan's JFE to add 5 MT steel capacity at Odisha JV plant with Rs 7,500 cr investment
JSW Steel and JFE Steel have entered into a mutual agreement to enhance their joint venture steel initiative in Odisha. With a notable investment of Rs 7,500 crore from both parties, this ambitious project targets an increased production capacity of 9.5 million tonnes by FY31. In addition, further investments will support improvements in other steel and mining activities, reinforcing their competitive edge and significantly upgrading their product range.
Petronet LNG, Gruner Renewable float JV to develop CBG plants with Rs 1,200 cr investment
Petronet LNG and Gruner Renewable Energy have formed a 50:50 joint venture to develop compressed biogas plants. This joint venture will involve an estimated investment of Rs 1,200 crore for developing ten plants in India. Each plant is designed to handle 18 metric tonnes of biogas per day, contributing to renewable energy goals. The partnership aims to enhance the commercial viability of the compressed biogas ecosystem in India.
BrahMos-NG prototype by 2027-28, 1,500-km range missile on future roadmap: BrahMos chief
BrahMos Aerospace is developing the BrahMos-NG missile with a prototype expected by 2027 or 2028. The company has initiated a conceptual phase for a missile range extension to 1,500 km. Various foreign countries have shown interest in integrating BrahMos with the Sukhoi-30 platform. The CEO highlighted the need to enhance research and development for this next-generation system. BrahMos' performance has strengthened India's defensive capabilities and is considering expanding defense exports.
BrahMos CEO says Operation Sindoor boosts missile’s global appeal
BrahMos Aerospace's CEO highlights the missile system's effectiveness during Operation Sindoor against Pakistan. The recent launches have attracted global attention and further cemented India's defense export ambitions. Significant contracts have been signed with countries like the Philippines, Indonesia, and Vietnam. Future projects include a new generation missile and a long-range variant to enhance India's capabilities. India's defense exports are projected to continue their rapid growth in the coming years.
Varroc Engineering to set up JV with French co Forsee Power to develop battery-pack solutions
Varroc Engineering has announced a joint venture with Forsee Power to develop battery-pack solutions for electric vehicles. The collaboration will begin with battery packs for three-wheelers, with plans to expand into other vehicle segments. Varroc will acquire a 45 percent stake in Forsee Power’s Indian subsidiary. This venture aims to combine expertise in battery technology and manufacturing for scalable solutions.
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With JSW by its side, Volkswagen to put India expansion plans on the fast track
Volkswagen Group is preparing a broad overhaul of its India strategy after its proposed alliance with JSW Group, covering sourcing, production, vehicle launches and dealer expansion. Skoda Auto acting CEO Holger Peters told employees the partnership would accelerate scale and competitiveness, with two locally assembled electric vehicles planned within two years.
Marsons to form JV with US-based Cleanhill Partners to tap North American market
Marsons has partnered with Cleanhill Partners to address the transformer supply shortage in North America. The joint venture will combine manufacturing capabilities with capital for enhanced distribution and service operations.
PwC’s new India consulting JV signals bigger global role for India
PwC is putting India at the centre of its global consulting strategy by combining its India consulting business with the US firm’s India advisory operations into a nearly 40,000-person joint venture. Executives said the move is aimed at routing more global consulting work through India, expanding work with GCCs and giving Indian clients greater access to PwC’s global capabilities, rather than simply cutting costs.
'AI raises the floor, people raise the ceiling': PwC US CEO on India venture, Big Four race and GCC push
In a bold move to enhance global integration, PwC is merging its Indian consulting operations with its US counterparts. This monumental shift, led by Sanjeev Krishan, will unite around 40,000 professionals in a shared mission focused on artificial intelligence and technology investments. Expected to rake in $1.5 billion in initial revenue, this merger marks a significant trend in the consulting industry, prioritizing advanced technology integration and local-global collaboration.
ET Prime Special Series: Multibagger or IBC - Part 77: This auto ancillary wants to double revenue by FY30. Execution to decide
A business can diversify in two ways: Slowly, by building new capabilities internally; or quickly, by acquisitions. This supplier has chosen the second route. It has expanded from a mechanical-only portfolio to a multi-discipline platform, doubled its manufacturing footprint, and added more than four alliances. The opportunity is obvious: A broader product basket and new global orders. The risk is equally important. The new businesses still have to prove that growth can translate into durable returns.
KAS Group eyeing chip gear refurb play with Singapore company
Partnering with a Singaporean firm, it plans to be the first Indian company to enter the high-growth vertical at a time when chip designing and packaging units in India are expanding fast, and an explosion in chip equipment demand has exacerbated supply bottlenecks, Manjunath Jyothinagara told ET.
Japan, Korea, China had their turn. India is now ‘inevitable’: Nothing's Carl Pei bets on the next global tech wave
Nothing CEO Carl Pei has called India “inevitable” as the next major hub for global consumer electronics, arguing that manufacturing is only the first step and real R&D will determine whether India builds homegrown global brands. Drawing on China’s experience, Pei outlined why engineering capabilities could drive India’s next consumer tech wave.
From INSAS to AK-203: How India's 'Sher' assault rifle came to be
The journey from INSAS to the indigenous AK-203 'Sher' involved years of negotiations, technical challenges and efforts to secure technology transfer from Russia. The article traces how India selected the AK-203, established a joint venture at Korwa in Uttar Pradesh and overcame hurdles to begin delivering the fully indigenous assault rifle to the Army.
ETMarkets Management Talk | Nuclear, data centres, hydrogen: DEE Development Engineers maps its next growth phase, says Shikha Bansal
For DEE Development Engineers, the focus is now shifting from a largely capex-led expansion phase towards capacity utilisation, execution, asset turns and stronger operating cash flows.
EQT Group plans to invest $50 billion in India by 2030: Jean Eric Salata, Chairman
Swedish buyout firm EQT plans to invest $50 billion in India over the next four years, roughly twice the $26 billion it has invested since entering the country in 1998. A large part of the investment will go into data centres and renewable energy, with EQT planning to deploy at least $2 billion annually in private equity through 2030 across manufacturing, pharma, financial services and sports.
PwC India, US to create 40,000-strong consulting JV: India to get operating control
PwC India and PwC US plan to create a 40,000-employee consulting joint venture that would be worth about $2 billion at launch. PwC India will control operations despite holding 49.9%, bringing its consulting business together with PwC US’s India-based acceleration centres to target global, domestic and GCC clients.
Cochin Shipyard, DP World arm to develop and run Kochi ship repair facility
Cochin Shipyard Limited and Drydocks World will jointly operate the International Ship Repair Facility. This partnership aims to expand the facility to meet growing regional and global demand. The collaboration will create additional capacity for servicing a wider range of vessels. India aims to become a top shipbuilding nation by 2030 and 2047. This public-private partnership marks a significant step for India's ship repair sector.
‘People’s welfare first’: Russia’s Alipov praises India’s BRICS presidency ahead of Putin visit
Russian Ambassador Denis Alipov praised India’s “people-centred” approach to its BRICS presidency, saying the grouping must ensure Global South and East interests shape global decisions. Ahead of Vladimir Putin’s second India visit in under a year, Alipov highlighted trade, energy, healthcare, AI and potential cooperation in urea, aircraft and nuclear energy.
JSW, Skoda-Volkswagen India stitch up 51:49 JV plan; sign non-binding MoU, begin exclusive valuation talks
JSW Group and Volkswagen have signed a non-binding MoU for a new alliance. This partnership aims to strengthen competitiveness through expanded product offerings and deeper localisation. The agreement initiates exclusive negotiations with a target final deal by end of 2026. The proposed alliance will operate through a new entity separate from existing JSW ventures.
Avalon Technologies, Zollner Elektronik AG form strategic JV for advanced electronics manufacturing in India
The companies said the JV will serve customers across geographies in sectors including healthcare and life sciences, test and measurement, rail and other industrial verticals.
DEE Development Engineers eyes global partner for nuclear piping space JV: Chairman
DDEL is the leading industrial pipe fabrication player in India and among the top five globally. It welds steel, stainless steel and other alloy pipes of different diameters for applications across multiple sectors.
ONGC can withstand oil prices in $60-90 range, says chairman
ONGC chairman Arun Kumar Singh stated the company is prepared for oil prices between $60-90 per barrel. The company's integrated operations help offset gains or losses linked to crude price variations. ONGC plans to expand its renewable energy portfolio to 30% over the next decade. A global oil trading joint venture is planned for establishment by year-end. Significant investment is earmarked for deepwater exploration, targeting 87 wells by 2030-31.
HAL, Safran to develop next-gen helicopter engine
The engine has been selected for IMRH, which is expected to eventually replace the Russian-origin Mi-17 fleet. The same day, HAL chairman and managing director Ravi K inaugurated manufacturing facilities of its JV with Samtel, which will produce avionics for helicopters, including Light Combat Helicopters, and develop next-generation electronic systems for aircraft.
Starbucks India brews up a fresh plan; puts expansion back on the menu
Starbucks India plans aggressive store expansion after a two-year business model recalibration. The company reported four consecutive quarters of same-store sales growth. This renewed expansion will increase store density in existing cities. Tata Starbucks aims to eventually match Starbucks' scale in China. The joint venture posted revenue growth and narrowed its net loss.
McDonald's dispute: Singhvi writes to CPRL logistics partner to resume supply
McDonald's estranged JV partner Vikram Bakshi said nearly all outlets of the food chain in East India have been shut and several others in the north are on the brink of closure
BEML may set up JV for making hi-end boggies
The rail and metro business group of BEML is looking for a joint venture (JV)partner from overseas to manufacture hi-end boggies to meet the growing demand.
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