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and growing middle class presented a significant opportunity for the $8.4-billion company to partner
Jubilant Foodworks and the Indian firm's success with Domino’s Pizza added to it. It plans to have 500
Dunkin' Donuts outlets in India over 15 years.
"This is our largest national store commitment," Costello says. As part of the master franchise
agreement, Dunkin' would provide brand, product and marketing expertise and Jubilant Foodworks
would build, own and operate the stores in India. Dunkin' Brands operates 16, 800 outlets globally. Of
this, the Asia-Pacific region accounts for over 5, 400 outlets, driven by brand Baskin Robbins. Costello
says the company intends to expand store count to 7, 000 in the region by 2015.
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Lockheed Martin bags deal to supply laser-guided bombs to IAF
US defence major Lockheed Martin has bagged a deal expected to be worth over Rs. 100 crore for
supplying laser-guided bombs (LGBs) for the Jaguar fighter aircraft fleet in the Indian Air Force (IAF). The
IAF plans to induct more than 100 bunker-buster LGBs for its Jaguar warplanes to destroy strongly
fortified enemy targets.
"We have emerged as the lowest bidders in the deal for supplying LGBs to the IAF. We have offered our
Paveway II LGBs for the Jaguars and contract negotiations are on in this direction," Lockheed Martin
India head Roger Rose told. The IAF had issued a global Request for Proposal (RFP) for the purpose last
year, and Lockheed Martin along with Raytheon and an Israeli missile manufacturer had taken part in
the tender.
With their capability to pierce hard surfaces, the LGBs can also be used to destroy enemy's concrete
runways and fortified locations. LGBs are guided projectiles that use lasers to strike a designated target
with greater accuracy than a gravity bomb and were used with high accuracy by the IAF against Pakistani
Army posts during the Kargil war in 1999.
Around the same time, the US had supplied some Paveway bombs to India which could be launched
from the Jaguar and Mirage 2000 planes for accurately striking enemy targets. The earlier lot of the
American bombs to the IAF was supplied by Raytheon.
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HDFC Bank partners with San Francisco based Wells Fargo for US-India remittance
service
HDFC Bank said it had partnered Wells Fargo for remittance services between America and India. This
would allow Indians residing there to remit money to their beneficiaries’ HDFC Bank savings accounts in
India. Wells Fargo has 6,000 branches in the US, while HDFC has 2,544 branches in India.
“While we are a major player in the Gulf-India remittance market, this alliance will help us consolidate in
the US-India sector, which has been growing exponentially. Given our reach and the web-based nature
of the service, this will allow people to send money back home in one of the safest and fastest possible
ways,” said Harish Engineer, executive director at HDFC Bank. Wells Fargo has a similar partnership with
ICICI Bank in India.
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IBM, Ingersoll Rand to offer energy efficient solutions in India
IBM and Ingersoll Rand announced that they will provide remote energy and asset management
solutions in India to drive greater energy efficiencies for organizations engaged in infrastructure creation
or maintenance for high-growth sectors (commercial, hospitality, health, pharma and others). This