Indian joint venture aims at hi-tech cluster

An MOU was signed between VIC and ELCINA on 3 February, by Mr. N. Vittal, Chairman, Vittal Innovation City and Mr. Pawan Sharma, Vice President, ELCINA at New Delhi. Members of ELCINA interested in setting up manufacturing facilities at this location have come together to participate in the joint venture. The participating members will invest in setting up their manufacturing facilities in the cluster which will be jointly run by the members of ELCINA and VIC. Each cluster will be about 100 acres, will attract investment of up to Rs 1000 Crores (202 US Million), and create over 15,000 direct jobs, the organisations said in a press release. The first cluster is proposed to be located at North India near Delhi within one year. The cluster will also provide knowledge based services, manufacturing, R&D and incubation activities inspired by global hi-tech innovation clusters like Silicon Valley in the US, Hsinchu in Taiwan, Tsukuba in Japan.