Mumbai firm to set up tech cluster in Dharwad

Astarc Group, a Mumbai-based $500-million worth diversified business venture, on Monday signed an MoU to invest Rs 500 crore to start a technology cluster in Dharwad.

Signing the MoU, Industries Minister R V Deshpande said the technology cluster will primarily attract and incubate medium and large technology corporations to set up their projects in this zone.

“We want to see ‘Invent in Karnataka, Innovate in Karnataka and Invest in Karnataka’. Our state is the knowledge hub of India and Astarc can draw the tech talent pool for incubating futuristic ideas, technology and products on its campus,” he said.

Astarc chairman and managing director Kishore Musale said the company has already acquired 200 acres of land. “We hope that the technology cluster will help start companies in verticals like electronics, pharma, biotech, energy and agriculture. It will pave the way for couple of billion investment and the project will be over within 18 months,” he said.

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