Communications and Manufacturing Association of India (CMAI), an industry body of ICT manufacturers, said on Wednesday that it has arranged a venture fund of $100 million for the promotion of eco-friendly research and manufacturing projects in the country.
This fund has been arranged with the help of the association members and will be provided to the companies who are into research and manufacturing of telecom and ICT products in an environment-friendly manner, CMAI President N K Goyal said. “We will be channelising this fund for companies in ICT research and manufacturing and who are environment conscious,” he said.
The association will also help select few people from these companies and sponsor their training in ICT research and manufacturing in Korea. “The companies will be selected on the basis of their project and feasibility,” Goyal added.
Korea Agency for Digital Opportunity and Promotion (KADO), an organisation under the Korean Ministry of Information and Technology, is the supporting partner to the association's initiatives.
“India has immense potential and we wish to partner to support economic growth and development in the ICT sector,” KADO Vice-President Park Won Geun said.
Source: Economic Times