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FIPB clears SDRC's India subsidiary

The company's proposal was cleared by the Foreign Investment Promotion Board recently and has been referred to the industry minister, with a

T O D A Y

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recommendation for final clearance.

A top SDRC official has been quoted as saying that the company has received a letter from the ministry informing it about the clearance.

SDRC, which at present operates through a liaison office in Delhi, would be making an initial investment of around $2 million into the subsidiary and would be increased to $5 million over five years.

The official said SDRC has recently acquired some software developers across the world and is in the process of consolidating its businesses.

It has identified India as one of the major markets for its 2D and 3D CAD/CAM software. One of the proposals, sources said, is to set up a software development centre.

The company would also expand its marketing activities in the country.

The US-based company has major clients in India, including some top automobile makers. Its client list includes the Defence Research and Development Organisation.

Company officials quelled the logic that its relationship with DRDO may get affected because of the anti-nukes sanctions India is facing.

SDRC's I-DEAS software is considered one of the most comprehensive packages of integrated mechanical design automation software available. It enables a dynamic, integrated development environment that helps the product development team actually work as a team, to more easily communicate and to quickly share their work in a synergistic environment throughout the entire process.

The VGX technology at the heart of I-DEAS is the key to delivering such unique features as the 'Dynamic Navigator' which recognises steps one normally takes and anticipates the next move, as well as the ability to sketch-in-place directly on a solid part.

- Compiled from the Indian media

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