Agilent launches 10-acre campus in Haryana
New Delhi, Apr 13 (UNI) In order to tap the growing test and measurement market in India, Agilent Technologies Inc, today announced the launch of its 10-acre Research and Development campus near Manesar, Haryana, with an initial investment of 25 million dollars.
The campus, to be completed by 2008, will have a capacity for 2,000 people and will engage in Research and Development (R&D), engineering support and financial services for Agilent.
''Till date we have invested over 100 million dollars in India, and with the test and measurement market here growing at 30 per cent, we expect to triple the revenues from India in the next 2-3 years,'' Agilent President&CEO Bill Sullivan told reporters here.
''R&D work in India is mostly related to software development and 40 per cent of what we do is software development, and the largest growth area is in the life sciences area which is why we are investing more here,'' Mr Sullivan added.
The current measurement market is estimated to be 40 billion dollars -- 20 billion dollars at the bio-analytical measurement market with a growth rate of 6-7 per cent, and 20 billion dollars on the electronic measurement market with a growth rate of 7-9 per cent.
''The 25 million dollar investment for the first phase to be complete by 2008, will be for not only creating infrastructure, but also recruiting, training and deploying the best talent to support our global markets,'' Agilent India President and Country GM Venkatesh Valluri said.
On asked on the total amount of investment he said, ''it depends on the market demand.'' The company also announced its plans to enter the capital market with an Initial Public Offering of the semiconductor test business in June.
On its plans of acquisitions in India, Mr Valluri said, ''We are negotiating with various service providers, but cannot disclose the details as yet.'' UNI RA SR PM1936