A Spanish manufacturer of printed circuit boards (PCB) has opted to set up its first overseas joint venture in India with an eye on the growing domestic demand and huge export potential.
Though China and Taiwan are way ahead of India in manufacturing PCBs and other electronic products, the Euro 18-million Circuitos Impresos Profesionalses, S.A. (CIPSA) has decided to locate the 50:50 joint venture - CIPSA-RIC in Bangalore with two Indian entrepreneurs - Anil Gupta and Alok Garg - and invest more to expand the production capacity.
'We have found India a strategic location for our first overseas venture outside Spain. Though manufacturing costs are cheaper by 10-12 percent in China, we have opted to come here (Bangalore) in view of the opportunities India offers in terms of skills, resources, market and huge export potential,' CIPSA director general Evarist Michavila told IANS here.
With an upfront investment of $10 million (Rs.450 million), the JV has started manufacturing single, double and multi-layer PCBs and membrane switches for the domestic as well as export markets.
