The Hindu Business Line : Intec Group firms up plans for software unit in Hyderabad

THE Intec Group Ltd, a $8 billion diversified engineering and manufacturing services provider with interests in IT and communications, has firmed up plans to acquire about 100 acres of land near Hyderabad to locate both a software services facility along with an hybrid incubation centre.

A team headed by the Chairman of the Intec Group, Mr Walter van West, along with senior members of the group including Mr M. Sridhar, Chief Operating Officer and Director of Technology, met with the Andhra Pradesh Chief Minister, Dr Y.S. Rajashekhara Reddy, to detail the company plans for Indian operations.

Intec, along with the Confederation of Indian Industry, is also planning to locate a Smart Hybrid E-Incubation Project that is aimed at helping small and medium sized companies in business productivity improvement. Its Indian subsidiary Intec Group (India) will cater to the needs of the company's global operations.

Speaking at the e-Hardware summit, Mr West said that the global electronic industry has shaped up to a $4-trillion business and within this, the e-economy is about $2 trillion. However, the Indian contribution as opposed to that of China is relatively small mainly due to regulatory constraints. Once these are sorted out, India could well emerge as one of the favoured destinations for foreign direct investments in the region.

The country's overall IT software exports from India to Europe have crossed the Rs 10,000-crore mark and account for about 22 per cent of total software exports.

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