FIPL which is now operating in India, Singapore, Malaysia, Indonesia, Thailand, Vietnam and Philippines, will set up a state-of-the-art R&D centre in Pune in the next one year.
The company will invest Rs 10 crore in the construction of the centre, while the equipment will cost around Rs 15-20 crore.
“The cumulative investment in this centre may exceed Rs 25 crore,” said Ferit. The centre will create next-generation software in the CFD segment, he said.
As its operations in India and the six other countries through FPIL has witnessed an impressive 80 per cent growth during the last one year, Fluent Inc is now aiming to register total sales of over $100 million in the current fiscal year.
FPIL had contributed around Rs 8 crore to the total global turnover of Fluent Inc during the last fiscal year.
The company expects a turnover of Rs 10 crore by the end of the current fiscal year.
“As part of our business strategy in India, FPIL will continue to focus on Indian defence and state-owned laboratories as this sector has been in the forefront of adopting cutting edge technologies such as CFD. Computer aided engineering , particularly CFD, is gaining relevance in India. Indian industry is beginning to recognise the advantage that such technology gives them in the face of global competition. We expect that in future, CFD technology will become a catalyst for shifting engineering design work to India,” said Dipankar Choudhury, chief technology officer of Fluent Inc.
FIPL, which is holding over 50 per cent market share in the Indian CFD market, has Tata Steel, GE India, Steel Authority of India Ltd, Indian Oil Corporation and Tata Consulting Services as its customers.
“We have recently tied up with premier educational institutions in the country including IISC, Bangalore, BITS Pilani and Jadavpur University and the IITs. We are now working more on creating awareness among the professionals in India about CFD. Tie-ups with these premier institutions will help us achieving this,” Choudhury said.