New Delhi, Oct 12 (PTI) Electronic chip giant Intel and manufacturing company VVDN have signed an MoU for the design, development, and manufacture of Intel-based products for customers locally.

The collaboration covers business, technical and go to market engagement models within India and globally, a joint statement said on Wednesday.

Also Read | LIC Sells Over 2% Stake in Power Grid Corporation for Rs 3,079 Crore in 5 Months.

"India has made incredible progress in electronics component making and chip designing. Our collaboration with VVDN is core to our strategy of building new alliances that help enable access, opportunities and boost local supply chain," Intel Corporate Vice President - Sales, Marketing and Communications Group & General Manager of Asia Pacific and Japan (APJ) Region, Steve Long said.

As a part of the collaboration, technology product engineering and manufacturing firm VVDN will design and develop Intel-based client, data centre and Internet of Things products across key verticals such as elecom, Networking, Cloud and 5G.

Also Read | RBI Fails To Meet Inflation Mandate; CPI Surges to 7.41% in September 2022.

VVDN is one the 31 companies that have been selected for production linked incentive scheme for making telecom products.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)