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HP Enterprise ties up with Haryana company for servers
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By Nagasunder in Business News, posted July 5, 2023
Hewlett Packard Enterprise (HPE) has entered into an initial agreement with VVDN Technologies, headquartered in Gurugram, India.
The partnership aims to manufacture high-end servers valued at $1 billion within a period of four-to-five years, as announced by Ashwini Vaishnaw, the Minister of Communications and IT, on Tuesday.
VVDN Technologies brings over ten years of experience in product engineering and the manufacturing of electronic solutions
The company specializes in providing comprehensive services for the design, development, and manufacturing of electronics products.
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The memorandum of understanding (MoU) between the two companies was signed promptly, within 10 days of the joint statement issued by India and the United States regarding the co-production and development of technologies.
Vaishnaw said: "HP Enterprise has agreed to manufacture high-end servers in India under the IT hardware PLI scheme. They have signed the first MoU with VVDN Technologies under this scheme."
According to the minister, production is projected to commence in November of this year.
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Antonio Neri, the President and CEO of HPE, emphasized that this development is a significant milestone for the company and reinforces its commitment to the 'Make in India' initiative.
HPE had previously announced an investment of $500 million over a five-year period in India back in 2019.
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