Zoho will invest ₹ 50 crore to ₹ 100 crore and form a separate company that will focus on research and development in the manufacturing sector.
Sridhar Vembu, Co-Founder and Chief Executive Officer of Zoho, told presspersons here on Saturday that the company would have local industries as partners who would bring in matching investment.
A centre would be set up in about three months and it would look at research and development in eight major sectors such as motors, machine tools, textiles, and battery technology.
“We will have a laboratory that will work closely with industries here. We (Zoho) will bring capital and know-how. This will be a separate company with investment from Zoho,” he said.
The laboratory would focus on issues that the industries faced and take up research in areas of mechanical, electrical and electronics.
The aim is to bring in import substitution with high technology developed locally for the domestic manufacturing industries and also bring in automation through the centre, he said.
“We need to develop the critical know-how for the industries. It will make this region and the State a high wage economy,” Mr. Vembu added.
