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Indian companies are expanding their operations into foreign markets more and more, leveraging their expertise and capabilities in varied sectors. We can see this trend taking shape in sectors like automation, esports, gadgets, and drones, where Indian companies are making substantial strides in growing their global footprint.
An example is JARVIS Invest, an Indian AI-based investment advisory platform, which recently expanded to Australia with Melbourne as its Oceania headquarters. JARVIS Invest plans to deploy its AI technology to invest in India and Australia equity markets, capitalizing on market opportunities. With the support of Australian investors and the backing of the Government of Victoria, JARVIS Invest is expected to generate tech/AI jobs in the state of Victoria, making Melbourne the hub for Australia’s AI-based fund management platform.
Read more: IT talent pool & EODB attract big foreign players for long term plans in India
Sumit Chanda, Founder and CEO of JARVIS Invest, stated, “AI is already disrupting how businesses are done, and we believe there will be several economic opportunities that will flow from AI in the years to come.”
In the automation sector, Jidoka Technologies, an Indian company specializing in automated cognitive inspection for the manufacturing industry, signed a value-added reseller agreement with Cybernetics, a robotics-based automation company in Lithuania. This partnership aims to help manufacturing companies in Europe improve their production processes and reduce their dependency on human labor. With the increasing focus on robotics and innovation in Europe, this expansion into foreign markets by Jidoka Technologies reflects the company’s commitment to catering to the growing demand for automation solutions in the region.
This expansion into foreign markets highlights the growing confidence of Indian companies in the global tech ecosystem and their ability to compete in international markets.
Esports, a rapidly growing industry worldwide, has also seen Indian companies expanding into foreign markets. Esportswala, an Indian esports organization, recently acquired Thailand’s PUBG Mobile team to bolster its presence in the Southern and Southeastern Asia regions. Despite the ban of PUBG Mobile in India, the global popularity of the game presents significant opportunities for Esportswala to expand its operations internationally and capitalize on the growing esports landscape.
In the gadgets sector, Fire-Boltt, a homegrown smart wearables brand from India, invested $1 million in the Vietnam market. This move comes after the brand’s recent entry into the Southeast Asia market, where it commenced operations in Singapore and Vietnam. With this investment, Fire-Boltt aims to establish a strong foothold in Vietnam and provide affordable and feature-loaded products to consumers in the price-sensitive market.
In the drone sector, DroneAcharya Aerial Innovations Limited, an Indian drone service provider and DGCA-certified drone pilot training organization, is commencing operations in Thailand in partnership with the Asian Institute of Technology (AIT). The collaboration with AIT aims to co-develop projects involving drones and GIS in Thailand and other Southeast Asian countries.
While DroneAcharya’s initial focus is on the Indian market, the company also plans to expand into other regions, including the Middle East, the US, Central Asia, and Southeast Asia. This expansion into foreign markets is in line with the projected growth of the global drone market and presents significant opportunities for Indian companies to capture market share internationally.
Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, has joined hands with Mumbai-based business-to-business (B2B) supply chain enablement startup Groyyo, seeking to tech up B2B manufacturing and sourcing processes.
Groyyo seeks to expand its footprint to the UAE and the Middle East region, leveraging from the fast rate of technology adoption and retail market growth there. It aims to clock $50M in revenue from the Middle East in the next 12 months with the private office’s support.
Subin Mitra, Co-founder & CEO of Groyyo, said, “The Middle East being one of the fastest growing retail markets globally is of key strategic focus to Groyyo’s growth plans. This partnership with Seed Group will help us expand in the region and dominate this market in the coming months.”
In February, Kapture, a SaaS-based customer experience platform expanded its services with client acquisition across Southeast Asian markets. The company has formulated expansion plans after making inroads in Indonesia with the incorporation of a separate entity.
Currently, it has a sales team in the country that the platform is planning to double down and foresee similar headcounts in newly captured SEA markets. In addition, the platform is expanding its customer base in the Philippines and focusing on core market development activities across Thailand, Vietnam and Malaysia, planned for expansion in the fourth quarter of FY24.
Platforms like Kapture are coming up with tools that are easily replicable in the international markets. These markets are yearning for a more industry vertical-focused solution for sectors such as retail, consumer durables, BFSI and travel.
Budi Mulia – Head of SEA at Kapture said, “Companies in SEA are always struggling in giving better CX in the market. Within industry 4.0, CX is becoming more complex and very critical for all industries.”
Read more: Q3 Foreign market expansions: Breaking into international markets with tech & ambition
Kapture expects the SEA market to contribute between a quarter and a third of its total revenue in the next 24 months.
Indian companies expanding into foreign markets is a growing trend in various industries, including automation, esports, gadgets, and drones. These expansions are driven by companies’ ambitions to tap into global market opportunities, leverage their expertise and capabilities, and cater to the growing demand for their products and services internationally.
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