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L’Oréal to Invest $383 Million in Indian Beauty Tech Hub

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French cosmetics group L’Oréal said it will invest more than $383 million to establish a beauty technology hub in the southern Indian city of Hyderabad, strengthening its push into AI-driven innovation.

The company said the hub will serve as a global base for developing artificial intelligence-powered beauty solutions and is expected to create around 2,000 technology jobs by 2030. The investment, amounting to over 35 billion rupees, aims to accelerate the rollout of advanced digital tools across L’Oréal’s global portfolio.

The partnership was formalized at the World Economic Forum in Davos by L’Oréal CEO Nicolas Hieronimus and the government of Telangana, a state that has rapidly positioned itself as a major technology and investment hub in southern India.

The move reflects growing economic ties between India and France, whose bilateral trade reached $15 billion in 2024. Leaders including Indian Prime Minister Narendra Modi and French President Emmanuel Macron have been working to deepen cooperation, including efforts to modernize tax agreements in line with global transparency standards.

Wipro CEO Sees Growing Demand for India’s IT Services From AI

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Artificial intelligence is increasingly driving demand for India’s IT services, as companies move beyond pilot projects and begin rolling out large-scale AI initiatives, according to Srini Pallia, chief executive of Wipro.

Speaking on the sidelines of the World Economic Forum in Davos, Pallia said Wipro is competing for a mix of small, large, and mega AI-related deals as clients across industries adopt the technology at different stages of maturity. While pricing pressure remains intense due to faster delivery timelines and leaner teams enabled by AI, he expects the number of smaller projects to rise as adoption widens.

India’s $283 billion IT sector has faced several quarters of slower growth as global clients cut technology spending amid economic and geopolitical uncertainty. Pallia said enterprise AI spending is now shifting from experimentation to accountability, with boards and executives demanding clear returns on investment.

He added that AI-assisted software development could cut costs by about 25% through productivity gains in coding and testing, leading to more projects over time. Wipro launched a three-year, $1 billion investment plan in 2023 to strengthen its AI capabilities.

India Approves $4.6 Billion in Electronic Component Manufacturing Projects

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India has approved electronic component manufacturing projects worth 418.63 billion rupees ($4.64 billion) under a government incentive programme aimed at strengthening domestic production, the country’s IT ministry said on Friday.

Global and domestic players including Samsung Electronics, Tata Electronics and Foxconn are among the companies whose proposals were cleared to receive subsidies under the Electronics Component Manufacturing Scheme. The scheme has a total outlay of 229.19 billion rupees and is designed to expand local capacity in key segments of the electronics supply chain.

The approved projects cover the production of a wide range of components, including mobile phone enclosures, camera sub-assemblies and other critical electronic parts. According to the IT ministry, the projects will be implemented across eight Indian states, reflecting a geographically diversified push to scale up manufacturing.

India has intensified efforts in recent years to build a globally competitive electronics manufacturing ecosystem. Through a series of incentive programmes, the government aims to attract both international and local investors, reduce reliance on imports and strengthen supply chains across multiple technology sectors.

The country’s electronics manufacturing sector produced goods worth about $125 billion in the year ended March 2025. The government has set an ambitious target to raise output to $500 billion by fiscal year 2031, positioning electronics as a key pillar of India’s industrial growth strategy.

Officials said the newly approved projects are expected to generate electronic components worth 2.58 trillion rupees ($28.62 billion) over time and create employment for around 34,000 people, providing a significant boost to manufacturing jobs and regional development.