The Hindu Business Line : New Jersey-based SMEs mull IT park

Hyderabad, Aug. 30 A consortium of 60 New Jersey-based technology companies have come calling to India with a proposal to set up an integrated technology park which will see initial investment of about Rs 1,200 crore.

The Small and Medium Enterprise Consortium (SMEC) now has about 60 companies as members with a combined turnover of $3 billion. It hinted that about 300 companies evinced interest in being part of the proposed project planned near Hyderabad.

Speaking to newspersons , the delegation lead by Mr Upendra J. Chivakula, Deputy Speaker of New Jersey General Assembly, along with other members of the consortium, said that the objective of such an initiative was to step up outsourcing work, network and connect with local people, create jobs, and take up social work.

Investment plan

As a part of this initiative, the consortium expects to invest about Rs 120 crore in International Institute of Information Technology, and some model schools, each with an outlay of Rs 12 crore.

The Chairman of SMEC, Mr Mahender Musuku, said that there are scores of technology companies playing a very strategic role in enterprises in the US with employee strength ranging from a couple of hundreds and upwards. All these companies either have outsourcing capability or are in the process of looking at developing such a capability.

“To address this, we have decided to come together and create a park that has integrated technology infrastructure where small and medium sized enterprises could function. Significantly, they will also get the advantage of accessing global expertise and IP protection support from the consortium,” Mr Mahender explained.

Infrastructure

The consortium was in parleys with the Andhra Pradesh Government for support infrastructure and was looking for some land. A detailed project would be submitted to the State IT department within a couple of months, he said.

The State Information Technology Minister, Mr R. Damodar Reddy, said this is a follow -up of his recent visit to the Silicon Valley and a meeting he had with chief executive officers of technology companies.

Mr Reddy said that this initiative works well with the State’s ambitious plan to create about 3-lakh technology jobs. In fact, this project alone has the capability to provide 20,000 jobs directly and about 80,000 jobs indirectly within two years.

More Stories on : Infrastructure | SSI | Andhra Pradesh

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
TCS bags $140-m deal from BSNL

NSDL plans share transfer updates through SMS

LG expands mobile range

TCS, Cognizant among 20 SEZs cleared

New Jersey-based SMEs mull IT park

Comat service centres in NE

Oracle University certification

SAP AG opens new facility in Bangalore

Energy-efficient hard drives from Western Digital

Nokia investigating handset explosion

HCL BPO appraised

SatNav Tech sews up $10-m expansion plan

Solution accelerators to drive revenues