Rolls -Royce plans to invest in Indian Startups. Yes, you heard it right! British luxury-car and aero engine manufacturing business Rolls-Royce has made public its plans to invest in the Indian Startup Ecosystem.
As per a recent report, the company is planning to triple its workforce at the R&D center in India by the end of this year. The report further suggests that the company will also look to invest in startups that are focused on domains like Artificial Intelligence and Data Analytics.
An official from the company said:
“Rolls-Royce is planning to triple headcount at its Bengaluru-based research and development centre by end of this year. They are impressed with Indian skilled talent and innovation of startups.” He further added, “Rolls-Royce is looking to invest in Indian startups. They are bullish on Digital India and want to engage more.”
Rolls-Royce Director Benjamin Robert Story and Rolls- Royce India President Kishore Jayaraman met Union IT Minister Ravi Shankar Prasad earlier this week to express their interest in engaging with the ‘Digital India’ initiative.
Earlier this week, in response to a recent tweet asking about an update on the launch date in India, Tesla CEO Elon Musk responded that Tesla is currently in talks with the Indian Government for ‘temporary relief on import penalties/restrictions until a local factory is built.’ The announcement comes as a very positive news after all the recent reports that were making claims about of delay in the Indian launch of the Tesla Model 3 Sedan, due to sourcing issues in the country. This response has also reconfirmed that the company was looking to set up a local base in India.