In a bid to provide resource monitoring system for the small and medium enterprises in India, leading starch maker, Anil Group has set up a new venture, Ascent Knowledge Solutions Ltd (AKS) focusing on business process and activities mapping, project management and IT related services.
AKS is focusing on companies in manufacturing sector, banks and other power critical industry for providing resource monitoring system, which is designed by the IT experts appointed by the company.
AKS aims to provide solutions in the space of data and information by putting in place Remote Resource Monitoring System to make available timely information through various communication means.
The company has set up a 100-per cent subsidiary in the US, Ascent Knowledge Solutions Incorporated (AKSI) to look after the US operations.
The Anil Group has chalked out an investment plan of US $ 10 million (approx. ' 52 crore) for the next one year, part of which will go to the establishment of the monitoring centers in India, while the rest will be spent on infrastructure and human resources. The company aims to tap small businesses in India as well as in the US.
"We are operational in the US to provide power monitoring services. Now, we are bringing these technology to India for the SME units here. There are several industries in India, which are considered as power critical and even a few minutes of power failure may lead to a big loss in the productivity," said Nalin Thakur, director, AKS. According to David Zimmy, president of AKS, the IT-based monitoring services has a total market size of about US $ 5 billion (over ' 26,000 crore), of which the company aims to tap US $ 100 million (approx. ' 520 crore) globally.
"We are targeting to tap a market size of about US $ 100 million over the next two years," said Zimmy.
