Electronics Production |
Two Spanish companies in Indian EMS JV
Electronica ITEL and DigiProces which are based in Spain have roped in two Indian serial entrepreneurs Anil Gupta and Alok Garg to set up an EMS joint venture with an upfront investment of $10 million.
The JV-Indic Electronics Ltd, to be commissioned by August, will provide end-to-end customised solutions, including functional testing and simulation to vendors outsourcing their product requirements.
'The manufacturing facility will come up on a two-acre plot in Doddaballapur industrial area, about 30 km from Bangalore. The JV will give a fillip to the growth of the hardware sector in Karnataka, attracting more investments,' Indic vice-chairman Anil Gupta told IANS after the partners signed a tri-partite pact for the venture late.
Gupta and Garg are also co-promoters of CIPSA-RIC India Ltd, a joint venture, set up at Doddaballapur last year to manufacture printed circuit boards and membrane switches for domestic and export markets.
'We will employ about 100 people initially to commence production. In view of the growing demand for EMS from domestic and overseas vendors, we estimate a turnover of $20 million (Rs.820 million) in the first full year of operations,' Indic managing director Alok Garg said.
