NEW DELHI, NNA - Japanese electronics maker NEC Corp. is forging a capital tie-up with a local partner to provide India’s 900 million rural population with various advanced digital services.
Its wholly owned subsidiary, NEC Technologies India Pvt. Ltd., will acquire a stake of more than 10 percent in CSC e-Governance Services India Ltd. for an undisclosed amount by the end of June, an NEC spokesman told NNA on Wednesday.
The investment will make NEC the third-biggest shareholder in CSC, the spokesman said.
The Indian partner runs 300,000 Common Services Centers, or access points, across the country to offer public utility services and social welfare benefits, as well as healthcare, financial, educational and agricultural services, according to NEC.
The spokesman said NEC and CSC aim to develop new information technology services by utilizing artificial intelligence and big data analysis technology.
“Education, financial inclusion and telemedicine are the areas where innovative technologies can be utilized to improve the quality of life for people living in rural India,” CSC CEO Dinesh Kumar Tyagi said in a statement.
NEC joined hands with CSC and major Indian banks in 2017 to launch financial inclusion services for residents with limited access to bank branches and automatic teller machines, enabling them to use banking services with biometric authentication at the access bases. (NNA/Kyodo)