Coimbatore: IT Major Zoho Corp plans to venture into research and development in the manufacturing sector with an estimated investment RS 50-100 Crore in partnership with industry in Nadu Tamil Barat, Founder and CEO of Sridhar Vembbu said here on Saturday.
Zoho will lead a consortium with local industrial partnerships that will have the same investment, he said.
“The aim is to do Deep R & D by working with all major industries in the region.
I will lead this new company,” Sridhar said.
“I visited the industry in Karur, Tirupur, Erode and Coimbatore for the past three days to find the challenges they face and their requirements.” The cost of labor has been high in the region and lack of labor has encouraged the industry to automation, Sridhar said.
“Most machines used by textiles and other industries are imported due to lack of domestic R & D.
This has added machine costs.” While Zoho has experience in R & D, it will offer leadership and capital for R & D companies – which are conceptualized during Discussion with industry, said a magnetic business.
“The Kong’s region is richer in terms of industry compared to regions in northern states such as Uttar Pradesh or Bihar.
We need automation to compete with countries such as Bangladesh.
While many companies plan to shift their units to African countries because of the availability of labor Cheap, it’s time for them to adopt automation.
“” Zoho software technology is very important and we intend to provide R & D support needed for the industry in this region, “Sridhar said.
“The new company is expected to take off in three months.”
Tamil Nadu: Zoho Corp plans to roam to R & D in the manufacturing sector
