Japanese Firms Toyo and MODEC to Hire 750 People in its New GCC in Bengaluru
The new centre's launch is part of the companies' global growth strategy, enhancing their ability to deliver innovation, operational excellence, and scalable services across international markets.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
As India continues to be a hotbed for tech and innovation, Toyo Engineering Corporation (Toyo Japan) and MODEC, Inc. (MODEC) has officially launched their global capability Center (GCC), TOYO MODEC OFS India Private Limited (OFS India) in Bengaluru, India. The GCC spread across approx. 1,00,000 sq.ft., is set to hire 750 employees over the next three years.
The roles will be across functions like engineering, procurement and comprehensive support for Floating Production Storage and Offloading (FPSO) projects.
OFS India is a joint venture company of Toyo Engineering India Private Limited (Toyo India), a subsidiary of Toyo Japan and Offshore Frontier Solutions Pte. Ltd. (OFS), a MODEC Group company.
The new centre's launch is part of the companies' global growth strategy, enhancing their ability to deliver innovation, operational excellence, and scalable services across international markets.
"Our journey to this day has been marked by a shared vision of innovation, excellence, and a commitment to creating value for our customers and stakeholders. This joint venture is a reflection of our collective belief in the power of collaboration and the limitless possibilities that arise when we combine our strengths and expertise," said Eiji Hosoi, President and CEO, Toyo Japan.
"By establishing a presence here, we are embracing an environment that encourages innovation, agility, and collaboration—qualities essential to meeting the increasingly complex and sophisticated needs of our FPSO projects. This will help us scale with speed, maintain execution quality, and deliver smarter, more efficient solutions to our global clients," said Hirohiko Miyata, President and CEO, MODEC.
According to an EY report, it is estimated that the domestic GCC market size will reach USD 110 billion by the year 2030, led by software exports, which remains a key component of India's service exports. It is predicted that by 2030, India will have 2,400 GCCs and that number can potentially increase to 2,550 as India emerges as the world's technology and services hub.
"A large number of Japanese GCCs are expanding their operation in Bengaluru, signaling a new era of cooperation between Japan and India. Bengaluru can also provide an abundance of engineers with expertise in oil production facilities. With this center, OFS India will create valuable employment opportunities, support the growth of local industries, and drive offshore energy projects," said Nakane Tsutomu, Consul General of Japan in Bengaluru.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Entrepreneur
20 minutes ago
- Entrepreneur
The International Yoga Day 2025: Indian Yoga & Meditation Industry to Hit USD 155.2 Billion by 2035
"AI is a tool, not the teacher. But it can be a really, really smart tool. It can help personalise, democratise, and scale access to yoga and wellness in ways we couldn't imagine before. But the soul of yoga is still human," says Sarvesh Shashi, CEO of SARVA Yoga You're reading Entrepreneur India, an international franchise of Entrepreneur Media. India is now gearing up to celebrate the 11th International Day of Yoga on Saturday, June 21, 2025. The theme for this year is 'Yoga for One Earth, One Health'. A significant event, Yoga Sangam, will feature mass yoga demonstrations across the nation. Prime Minister Narendra Modi will lead the celebrations in Visakhapatnam, Andhra Pradesh. India's yoga and meditation services industry is also growing rapidly. According to Future Market Insights, it is expected to rise from USD 81.7 billion in 2025 to USD 155.2 billion by 2035. This means the industry will grow at a compound annual growth rate (CAGR) of 6.6 per cent during this period. "Honestly, I think India is just coming back home to itself," says Sarvesh Shashi, CEO of SARVA Yoga. He feels it's a beautiful shift where people are no longer looking at yoga as just something you do on a mat. "They're beginning to see it as a way to breathe better, live lighter, and feel more grounded in a very noisy world." Though he also believes a lot of it is driven by stress, he adds it's also fuelled by curiosity because of people wanting more peace, more meaning. "Thankfully, technology has made it easier to access even the most ancient of practices with just a tap," Shashi says. The Rise of Yoga Startups India's yoga and meditation space is also expanding through startups. People are focusing more on complete well-being, companies are offering wellness programs, and technology is making it easier for users to access yoga. The market is expected to grow 1.8X over the next decade, offering an absolute opportunity of INR 23,800 crore. Shashi also believes there is immense potential for growth when it comes to yoga startups. "There's space for every kind of startup from hardcore tech platforms to beautifully handcrafted retreat spaces. What I love most is that founders are no longer just 'building a business,' they're building a way of life. The growth will be rooted in authenticity, people want real. So the more heart, the better," he says. The Next Five Years When asked about key changes expected in the Indian yoga and meditation services industry over the next five years, Shashi shares, "We're moving from classes to communities. From instructors to experiences. I think the next five years will be less about how flexible you are and more about how connected you feel to yourself, to others, to nature. We'll see more hyper-personalisation, tech-driven solutions, and also a return to deeper practices like pranayama, kriyas, and dhyana not just as buzzwords but lived practices. And, hopefully, a lot more joy along the way." He also hopes that the startup ecosystem will revive the Vedic lifestyle, which goes far beyond just yoga exercises. "I really hope so. Yoga is only one petal in this beautiful flower called the Vedic lifestyle. There's so much wisdom from how we eat, sleep, speak, think. Startups that can respectfully revive these practices without preaching, that can meet people where they are—that's where the magic lies. It's not about going back in time, it's about bringing ancient wisdom into modern life," he notes. AI's Role in Ancient Practices Where does artificial intelligence stand in a practice that is thousands of years old? Shashi says, "AI is a tool, not the teacher. But it can be a really, really smart tool. It can help personalise, democratise, and scale access to yoga and wellness in ways we couldn't imagine before. But the soul of yoga is still human. AI can guide you through a session, sure. But your breath, your journey that's all you. And I think that's beautiful."
Yahoo
38 minutes ago
- Yahoo
Taiwan central bank says US debt rising too fast may impact trust in Treasuries
TAIPEI (Reuters) -Taiwan's central bank governor warned on Saturday that rapidly rising U.S. debt could be "unfavourable" to the outlook for U.S. Treasuries and that U.S. President Donald Trump's trade policies have made investors cautious. Taiwan's $593 billion in foreign exchange reserves are more than 80% made up of U.S. Treasury bonds, according to the central bank, which said earlier this month that Treasuries were "sound" and still favoured by investors. It added there were no worries about the dollar's position as the leading international reserve currency. Governor Yang Chin-long, in a speech posted on the central bank's website, said Trump's repeated criticisms of the U.S. Federal Reserve's monetary policy have caused concerns about its independence. "In addition, Trump 2.0's trade policy has made investors hesitant about holding U.S. Treasury bonds; Trump's budget, the 'One Big Beautiful Bill Act,' may cause U.S. debt to expand too quickly, which is unfavourable to the outlook for U.S. sovereign debt," he said. "All of these have had a significant impact on the international monetary system centred on the U.S. dollar and based on U.S. creditworthiness." Trump's sweeping tax-cut and spending bill is the centerpiece of his domestic agenda. The bill would lead to a larger-than-expected $2.8 trillion increase in the federal deficit over the decade, despite a boost to U.S. economic output, the nonpartisan Congressional Budget Office projected on Tuesday. Trump, in his first few weeks in office, also announced sweeping tariffs on a broad swathe of countries and trading partners, including Taiwan, only to pause them for 90 days in April to allow for talks to take place. Yang said Trump had been hoping the tariffs could resolve the U.S. trade deficit. "However, the tariff policy not only fails to solve the structural problems, it will also impact the U.S. economy, and threaten to further affect the outlook for global trade and the economy."
Yahoo
an hour ago
- Yahoo
Taiwan central bank says US debt rising too fast may impact trust in Treasuries
TAIPEI (Reuters) -Taiwan's central bank governor warned on Saturday that rapidly rising U.S. debt could be "unfavourable" to the outlook for U.S. Treasuries and that U.S. President Donald Trump's trade policies have made investors cautious. Taiwan's $593 billion in foreign exchange reserves are more than 80% made up of U.S. Treasury bonds, according to the central bank, which said earlier this month that Treasuries were "sound" and still favoured by investors. It added there were no worries about the dollar's position as the leading international reserve currency. Governor Yang Chin-long, in a speech posted on the central bank's website, said Trump's repeated criticisms of the U.S. Federal Reserve's monetary policy have caused concerns about its independence. "In addition, Trump 2.0's trade policy has made investors hesitant about holding U.S. Treasury bonds; Trump's budget, the 'One Big Beautiful Bill Act,' may cause U.S. debt to expand too quickly, which is unfavourable to the outlook for U.S. sovereign debt," he said. "All of these have had a significant impact on the international monetary system centred on the U.S. dollar and based on U.S. creditworthiness." Trump's sweeping tax-cut and spending bill is the centerpiece of his domestic agenda. The bill would lead to a larger-than-expected $2.8 trillion increase in the federal deficit over the decade, despite a boost to U.S. economic output, the nonpartisan Congressional Budget Office projected on Tuesday. Trump, in his first few weeks in office, also announced sweeping tariffs on a broad swathe of countries and trading partners, including Taiwan, only to pause them for 90 days in April to allow for talks to take place. Yang said Trump had been hoping the tariffs could resolve the U.S. trade deficit. "However, the tariff policy not only fails to solve the structural problems, it will also impact the U.S. economy, and threaten to further affect the outlook for global trade and the economy." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
