Global Emerging Markets and Vittal Innovation City in a joint venture with Lepakshi Knowledge Hub, are developing a green eco system for 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 at the Lepakshi Knowledge Hub.
Global Emerging Markets, a $3.4 Billion alternative investment group that manages a diverse set of investment vehicles focused on emerging markets, and Vittal Innovation City led by N. Vittal, former Secretary in the union Electronics and Telecommunication ministry have prepared a concept master plan which proposes to set up IT/ITeS units, advanced hi-technology Electronics city, Defence electronics zone, Integrated Freight and Logistics Corridor, media, digital and film making hubs, international universities, biotechnology, genetic engineering units with health and hospitality enclaves across 2500 acres.
The first phase of the cluster will focus on development of an integrated innovation cluster for electronics eco system, so that all segments of the value chain are present to provide a sustainable framework for design, innovation, R&D and manufacturing. This cluster will be promoted to relevant trade bodies and industry in other countries especially with Taiwan, Korea and Japan amongst others. Vittal Innovation City already has an MOU with Institute of Information Technology (III), Taiwan to promote the cluster with the Taiwanese electronics companies, and with the Korean Government to promote the cluster for Hi-tech Korean companies. Several companies from South Korea and Taiwan have shown keen interest to set up their manufacturing units at the cluster.
The joint venture provides a strategic opportunity for India to leapfrog in Electronics and IT hardware manufacturing on the lines of IT software sector. The proposed cluster will be positioned into a special cluster for Electronics. This is corroborated by the fact that the recent report of Department of Information Technology (DIT), Govt of India has stressed for the need of creating electronics clusters in India for national competitiveness in this area.
