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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (4782)	6/29/1999 3:39:00 PM
From: Mohan Marette	Read Replies (2) \| Respond to of 12475

USHA plans software park in Bangalore. USHA International ushainternational.com ushaintl.com Usha Informatics ushainformatics.com USHA Martin Telecom commandcell.com Steel silverleaf.com ========================= Group Usha plans software park in Bangalore (Wednesday, June 30, 1999) K Giriprakash in Bangalore The Rs 4,000-crore Group Usha will be setting up a Rs 80-crore software technology park near Bangalore. The group received clearance from the high-level committee of the Industry Ministry in the state last week to set up the park. The group's subsidiary, Usha Housing Development Corporation Ltd, which is promoting the venture, will now have to get the formal approval from the state cabinet. The promoters of the project will be pumping in Rs 25 crore as their equity while Rs 40 crore will be through term loans. The park is expected to come up in White Fields, near Bangalore on a 10-acre plot. The sprawling Information Technology Park Ltd (ITPL) is also based in White Fields. Apart from the software centre, the software technology park will also have residential quarters, conference hall and several other innovative features. In spite of pulling out of the semiconductor business by selling of its software design centre to Motorola last year, the group has decided to make another foray into the software sector. The group sold of its centre after its joint venture with Temic Semiconductors broke up after Temic was taken over by the US-based Vishay Intertechnology. The US-based company called of the alliance following a review of its joint ventures worldwide. Both Usha and Temic had invested around $2 million into the venture. It was involved in the development of micro-controller peripherals, memories, CAD and very large scale integrated software development and digital signals processing real-time software. The joint venture had employed over 40 engineers and was one of the first design centres to be awarded ISO 9001 for IC design. The Group Usha promoted project is among the biggest software technology park projects in the last two years to be set up in Karnataka. Software exports in the state touched a record high of over Rs 2,000 crore during 1998-99 while it is expected to cross Rs 3,500 crore during 1999-2000. Group Usha is one of the leading companies in north India with interests in iron & steel, information technology and telecommunications. As part of its future plans, the group is planning to invest in insurance, basic telephony, infrastructure and entertainment sectors. In the insurance sector, the group has plans to enter the sector on a large scale. KPMG Peat Marvick and IMPRB have been commissioned to conduct surveys on insurance reforms in other countries and to study the consumer profile in India. The group has identified healthcare insurance and life insurance as a long-term goal. It has through its consultants sought tie-ups with multinationals.