The US–based $3.9 bln Qualcomm has signed an international service agreement with Bangalore’s Spike Technologies to support its CDMA-related engineering projects in India on a contract basis. This is however being seen as a precursor to an acquisition of Spike Technologies.

For now Spike’s 150-member chip design team in Bangalore will be working closely with Qualcomm’s offshore software development centre in Hyderabad. For the CDMA wireless technologies pioneer- Qualcomm- Spike’s involvement is strategic in light of its global expertise in application-specific integrated circuits (ASIC) technology, which is at the heart of CDMA chip design.

Suzuki Motor Corporation (SMC) plans to invest more than Rs. 1,050 crore (over US $ 230 mln) in two separate Indian ventures.

Suzuki is setting up a second automobile assembly company in the country under Suzuki Maruti India- a joint venture with Maruti Udyog. The plans include a new plant in Gurgaon, Haryana, with a capacity of 2.5 lakh units. With an estimated investment of approximately 15 bln yen (Rs. 630 crore), the plant is scheduled to start operation in the beginning of ’07.

The second venture involves the setting up of a new company to manufacture automobile engines. Tentatively named, Suzuki Engineering India, the plant in Haryana is expected to have a production capacity of 100,000 diesel engines per year, at a total investment of 10 bln yen (Rs. 420 crore). Scheduled to start operations by the end of ’06, the plant will produce 1.3L diesel engines with 4 cylinders, for which, Suzuki had product licence agreements with Fiat Auto in Italy and Adam Opel AG in Germany.

The new company will be merged with Suzuki Metal India, an aluminium casting company in India.

The Japanese auto major's interest in India is being viewed as an attempt to capitalize on the rapid growth in the country’s automobile sector. Besides, experts suggest that the three company structure will give Suzuki transfer pricing options within the listed company framework as well as gain tax benefits too.

Sydney-based Macquarie Bank is considering plans to set up in India to capitalize on a booming economy, rising income levels and a sourcing stock market.

Macquarie Bank, a specialized investment banking giant, which is smaller and more focused than rivals such as HSBC and Citibank, is scouting for employees to be based in Mumbai. It is planning a 100% subsidiary, which will focus on equities, corporate finance and investment banking.

Macquarie also has plans to float an infrastructure fund in India, but not in the immediate future. Macquarie, founded more than three decades ago, is Australia’s third-largest fund manager with total assets under management of $ 63 bln.

Last month the Bank acquired Dutch banking giant ING’s Asian cash equity and equity capital market businesses, giving it an access to equity-related businesses in 10 locations such as China, Taiwan, Japan, Korea, Thailand, Singapore, Malaysia and Philippines.

Macquarie however is not alone in its India plans. Similar interest has also been viewed on the part of other banking giants such as Swiss UBS, who has recently applied for banking licence and is likely to begin operations soon.