The Indian Institute of Technology, Bombay (IITB), and the Indian Institute of Science (IISc), Bangalore, have announced the setting up of centre’s of excellence in nanoelectronics on each of their campus’ to undertake state-of-the-art research in the subject, train manpower in the field of nanoelectronics and create facilities to be used by researchers all over the country

The project will be funded by the ministry of communication and information technology (MCIT) at a cost of Rs 99.8 crores to be spread over five years and shared equally by both the institutions. Nanoelecronics is considered to be one of the most advanced of the nanotechnologies that deals with nano-devices used for electronic circuits and systems.

"This project represents the first collaborative effort between two leading academic institutes in the country, to carry out a joint programme in an important emerging area," said chief investigator for the project, Prof. Ramgopal Rao from IITB.IISc will focus on the materials aspects of nanoelectronics devices, while IITB will focus more on the devices and circuits aspects of nanoelectronics.

"This collaboration will ensure that several major equipment do not have to be replicated at the two centres, thus leading to considerable cost saving and will ensure that the complementary expertise of the two teams are effectively used," added the professor.

As the countdown begins for US President George W. Bush’s visit to India, the domestic dollar-spinning IT sector is keenly awaiting some positive signal on inking a free trade pact with the US in the services sector.

The US is the biggest market for India’s software services and business process outsourcing firms, accounting for nearly 70 per cent of the total exports that is likely to touch a staggering $24 billion in the year ending March 31.

With just a couple of days to go before President Bush arrives in India on Wednesday, hopes are soaring that the US administration would also raise the visa limit for entry of Indian tech professionals in the world’s largest economy.

"A free trade agreement with the US in the services sector will be a win-win situation for both the countries," said Kiran Karnik, president of the National Association of Software and Service Companies (Nasscom)."It (the agreement) will complement both the economies. While their strength is the vibrant venture capital and marketing skills, the Indian IT industry is known globally for its vast and skilled manpower base," Mr Karnik said.

"Despite the Indian IT firms’ foray into new geographical locations, the US continues to be the biggest and rapidly growing market. A free trade agreement in services will greatly boost the bilateral business relations."The service sector accounts for a little more than half of India’s gross domestic product.