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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: SKIP PAUL who wrote (674)	2/11/2000 1:31:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

New foreign investment policy-Automatic clearance for most industries. It could very well be. All in all there are a lot of positive news coming out of India on the economic front. Also the budget coming out on Feb of 29th is expected to be very investor friendly for both domestic and foreign investors. A rate cut is also expected. Here is one such news. =============== New foreign investment policy 02-11-2000 20:40:58 The government today formally announced it would allow automatic clearance to foreign direct investment (FDI) in all business activities, except a few sectors. Automatic clearance would mean that no permission would be required from the government for investment in any sector. A government statement said foreign firms seeking to buy more than 24% stake in firms falling in the small scale sector would not be permitted automatic clearance. India reserves some items for small-scale manufacture. The statement said foreign firms seeking to make new investments in a business venture where they already have a tie up in India would also not be allowed automatic approval. The government also said foreign and overseas-based Indian investors would also not be allowed automatic approval for acquisition of shares in an Indian company. It also said foreign investments in companies which cross caps on foreign stakes would also not qualify for automatic clearance. Foreign investment proposals in state-run firms and export units would be permitted automatic clearance, subject to minor checks. Source: Reuters

To: SKIP PAUL who wrote (674)	2/12/2000 8:35:00 AM
From: Mohan Marette	Read Replies (2) \| Respond to of 1471

BizWeek (Intl): India Wired-"India is for real.." Grady Means,Pricewaterhouse Looks like this cover story in this week's Business Week (Intl Edition) could have helped too. =============== Grady E. Means, who heads PricewaterhouseCoopers' global corporate-strategy practice. 'India is for real, for real, for real.' (Information technology is lifting the economy, and the politicians are backing it) Longer term, the technology boom will have its biggest impact on India's domestic economy. Already, the country has 10,000 cybercafes. Within three years, Goldman Sachs estimates that the number of India's Net users will balloon from 2 million to 70 million. The main catalyst for the wiring of India, however, is the surge in global demand for electrical engineering and software of all kinds. As multimedia takes off, the need for such services will mushroom. Indian companies are becoming proficient in chip design, Web-based services, and telecom software, among other fields. While these skills are scarce in the U.S. and Europe, India has them in profusion. The country's universities are pumping out 120,000 engineering graduates a year, and the number reaches nearly 1 million when polytechnics and the country's 3,000 computer-training institutes are included. And nearly 100 such institutes are opening every month. Many Indian outfits are also known for high-quality work. Of the 21 companies worldwide that hold the Carnegie Mellon Software Engineering Institute's highest ranking, 12 are from India--including Motorola Inc.'s Bangalore subsidiary, Citigroup software subsidiary I-Flex Solutions, Infosys, and Wipro. (By Manjeet Kripalani in Bangalore, with Mark L. Clifford in Hyderabad- Business Week International Edition) businessweek.com@@vT1Zl2UQ0lJzKQAA/premium/00_08/b3669008.htm