NEW DELHI: US-based Hewlett Packard Enterprise (
) has signed an initial pact with Gurugram-headquartered
, under which they plan to produce high-end servers worth $1 billion in 4-5 years, communications and IT minister
said on Tuesday.
VVDN has more than a decade of experience in product engineering and manufacturing electronic solutions. The company helps with end-to-end design, development, and manufacturing of electronics products and solutions.
The memorandum of understanding (MoU) was signed within 10 days of the India-US joint statement on co-production and development of technologies. “
has agreed to produce high-end servers in India under the IT hardware PLI scheme. Under the scheme, they have signed the first MoU with VVDN Technologies,” Vaishnaw said.
The minister said production is expected to start from November this year.
, president and CEO of HPE, said the development marks a significant milestone for the company and reiterates its commitment to the ‘Make in India’ initiative.
In 2019, HPE had announced an investment of $500 million over five years in India.