Indian Companies Expand Globally through Strategic Deals
Indian companies have intensified their global reach by entering strategic deals across sectors such as renewable energy, electric vehicles (EVs), steel, information technology, and infrastructure. Notable participants in this wave of global collaboration include Suzlon, Hyundai, JSW Steel, TVS Motor, HCLTech, and RailTel.
Suzlon Energy has entered into an initial partnership with the South Korean firm GS E&C to collaborate on India’s renewable energy landscape. The Memorandum of Understanding (MoU) was signed during the India-Korea Business Forum, attended by Union Commerce Minister Piyush Goyal and his Korean counterpart, Yeo Han-koo. This agreement aims to enhance cooperation in safeguarding aging wind farms and executing re-powering projects.
TVS Motor Company is making its debut in Zambia by appointing Zamoto Manufacturing Ltd as its official distributor. This strategic move aims to strengthen its footprint in Africa, with Zamoto Manufacturing tasked with overseeing sales, service, and spare parts across the country. In a related development, Hyundai and TVS Motor have signed a joint development agreement to create electric three-wheeler solutions tailored for India’s last-mile mobility needs. Hyundai will take the lead in designing and developing this electric three-wheeler (E3W), leveraging its expertise in research and development and advanced mobility technologies.
HCL Technologies (HCLTech) has announced the appointment of Kimsuka Narsimhan as an independent director. Narsimhan, a Chartered and Cost Accountant, brings over 35 years of experience in senior leadership roles, focusing on finance, risk management, strategy, and business transformation.
RailTel Corporation of India Ltd has secured a Letter of Acceptance (LoA) from the Municipal Corporation of Greater Mumbai. The LoA pertains to the provisioning, configuration, testing, commissioning, and operations and maintenance of BMC Cloud Services, with an estimated order size of ₹86.4 crore (including tax).
In another significant collaboration, South Korean technology giant NAVER Corp and India’s largest IT company, Tata Consultancy Services (TCS), have signed an MoU during the India-Korea Business Forum. This agreement is part of 16 cooperative agreements aimed at enhancing bilateral ties. NAVER’s mapping and search solutions are currently managed by its teams in South Korea.
Additionally, Thomas Cook (India) and its group company SOTC Travel launched a trip cancellation cover for visa rejections, in partnership with ICICI Lombard. Under this initiative, customers whose visa applications—excluding immigrant or employment visas—are denied will receive compensation for non-recoverable advance payments related to travel and accommodation.
JSW Steel, led by Sajjan Jindal, has formed a joint venture with South Korea’s POSCO to establish a 6 million tonnes per annum steel plant in Odisha. This venture was announced at the India-Korea Business Forum. The land for the project has been secured, and the facility is expected to produce high-grade flat steel products for automotive and other applications.
Eimco Elecon (India) Ltd has successfully completed a major land acquisition in Kanjari, Gujarat, following board approval in January. The formal sale deeds have been executed, securing the land as part of the company’s long-term operational and expansion strategies, with a total cost of ₹45.6 crore (exclusive of stamp duty and other charges).
Carysil Ltd, a leader in quartz kitchen sinks, has significantly revised its manufacturing expansion plans, increasing its intended annual capacity from 1 million to 1.25 million units. This change reflects advanced negotiations with major home improvement retail chains in the United States.
Published on April 21, 2026
