Ola, one of the world’s largest ride-hailing platforms, announced its plans to set up a first of its kind Advanced Technology Center in the San Francisco Bay area. The move is a part of the company’s global initiatives to further drive mobility-led transformation to billions across the world. With a commitment to accelerate the development of technology and innovation in Mobility, Ola’s Advanced Technology Center will look to onboard world-class talent who will collaborate closely with global teams in the various geographies where Ola operates. The center will build cutting-edge technology solutions to accelerate Ola’s ambitions across electric mobility and connected vehicles as well as lead futuristic experiments like autonomous vehicles. Ankit Bhati, co-founder and CTO, said, “We are very excited about launching Ola’s Advanced Technology Center in the Bay Area. The Valley and the talent ecosystem here are very conducive to the development of next-generation mobility solutions. This is also a big step in our journey as a global mobility player, with a mission that talent from around the world are inspired to join us on.” He added, “The Advanced Technology Center will be the center-point of transformative mobility technology in the time to come. We are committed to building world-class mobility innovations and look forward to working with people who are as passionate as we are about building mobility for a billion people.”
Wipro Opens New State-of-the-Art Digital and Technology Center
Wipro Limited, a global IT, consulting and business process services company, announced that it will be opening a new center of excellence for clients in the Minneapolis-St. Paul region. Wipro and client teams will collaborate on digital solutions, with a focus on financial technology, and will add 100 local jobs over the next two years to its already substantial presence in the Twin Cities. As a No-Shore office, the Minneapolis center will serve as a hub for technology and resources locally and globally, ensuring development quality and delivery across Wipro and client teams around the clock. Wipro specifically plans to leverage local Minnesota talent in addition to providing opportunities for recent university graduates and experts keen on developing their technology-related skills. "Minnesota is a magnet for world-class talent and innovation – a strategic asset we're excited to harness in collaboration with our clients," said Angan Guha, senior VP and global head of BFSI at Wipro Limited. "With this new center, we can offer our clients in financial services, consumer, health and other industries both world-class digital and technology solutions. By applying Wipro's No-Shore Delivery model, where geography is not a limitation but a gateway to developing the best new products and services, we maximize local talent and customer value."
Amazon Plans to Tap Students, Housewives to Speed Up Deliveries
Amazon India is set to offer students, homemakers and retired professionals part-time jobs, ensuring faster deliveries during peak season and creating Uber-style flexible jobs. Fast and reliable delivery is the most important part of the e-commerce business, along with the right product assortment. Now, with Amazon Flex, as the initiative is called, Amazon India expects to create job opportunities for thousands, giving them the chance to make some extra money during their free time. The person needs to work for four hours a day delivering packages, according to a LiveMint report. “While we continue to scale our existing delivery capabilities across the country, Amazon Flex will enable Amazon to continue growing our capacity to serve more customers and speed up deliveries," said Akhil Saxena, vice-president (Asia Customer Fulfilment) at Amazon. The company ran a pilot for two weeks before launching it in Bengaluru, Mumbai and Delhi, with more cities planned to be included later this year. India is the seventh country where Amazon has launched Amazon Flex. It has been operational in North America, Germany, Spain, Japan, Singapore and the UK, where it grew delivery capacity and sped up deliveries for customers.
MYRA Wealth Founder Sahil Vakil Named to InvestmentNews List
InvestmentNews has recognized Sahil Vakil, founder of a financial services firm targeting international and multicultural families, as a 2019 40 Under 40 honoree. The Indian American was chosen from a pool of more than 1,000 nominees by a panel of reporters, editors and other representatives of InvestmentNews, to make a list of 40 talented individuals. Vakil founded MYRA Wealth specifically to meet the financial planning needs of immigrant and multicultural families, a fast-growing population that has been largely ignored by traditional financial firms. “As an immigrant to the U.S., I felt totally overwhelmed in terms of financial planning and couldn’t find one person who specialized in personal finances for people of my situation,” said Vakil, who grew up in Mumbai. “I realized there was a gap in the industry.” Vakil received bachelors and masters degrees in electrical and aerospace engineering, but then received an MBA from Wharton and switched to a career in personal finance.
India’s Oldest Private Carrier Headed for Bankruptcy Court
Lenders to India’s oldest private carrier, Jet Airways, have finally decided to refer the carrier for bankruptcy proceedings after their harrowing search to find an investor came to naught. Yahoo Finance reports that the airline’s lenders, a consortium of banks led by the State Bank of India said in a statement that they will soon approach the National Company Law Tribunal, India’s insolvency court. The consortium had taken control of the airline, from founder Naresh Goyal, in March hoping to rope in an external investor to revive the airline and recover their dues. A formal bidding process to invest in the airline was soon initiated by SBI Capital markets, the lead lender’s investment arm, but the process elicited only one bid, the report said. “After due deliberations, lenders have decided to seek resolution under the Insolvency and Bankruptcy Code since only a conditional bid was received and requirement of the investor for SEBI exemptions and resolution of all creditors is possible under IBC,” the statement by lenders read.
By GIOVANNI ALBANESE Jr., India-West Staff Reporter