Sumitomo Corp. opens Bangalore office for strategic alliance with Indian IT startups
NEW DELHI, NNA – The local subsidiary of major Japanese trading house Sumitomo Corporation Group. said Monday it has set up an office in Bangalore (Bengaluru) to seek collaboration with IT firms and startups in the India’s information technology industry hub.
Based in New Delhi, Sumitomo Corporation India Pvt Ltd., said in a statement that it aims to incorporate advanced technologies and establish new business models jointly with start-up companies in India, which is experiencing rapid growth.
At the same time, Sumitomo Corp. will work with leading Indian IT companies to accelerate the digital transformation of the group and work to revolutionize existing businesses and create new ones.
It noted that Bengaluru, the capital of the southern Indian state of Karnataka, is home to a large number of startup companies and has produced numerous unicorn companies because of its thriving world-class startup ecosystem.
Bengaluru is also home to several large Indian IT firms and has one of the largest number of IT engineers in the world. It is said to be an IT city comparable to the Silicon Valley in the United States, the statement added.