IT sector attracts $8.6B investment

By agencies   |   Monday, 15 May 2006, 07:00 Hrs
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NEW DELHI: Global corporations have pledged investments of $8.6 billion in the telecom and Information Technology sectors in 2005-06, according to the data compiled by Ministry of Communications and IT.

A consortium of non-resident Indians has proposed investment of $3 billion for silicon chip manufacturing facility near Hyderabad. The consortium will be supported with technology and equity funding from chipmaker AMD and memorandum of understanding to this effect has been signed with Andhra Pradesh government.

The second largest chunk of investment has been announced by largest software maker Microsoft, which has announced investment of $1.7 billion in the country on research and development, education, productivity and governance.

Following Microsoft closely is Intel, which has proposed to invest $1.1 billion in research and development, marketing, education and setting up a venture fund.

Networking major Cisco has announced an investment of $1.1 billion, while EMC said that it plans to invest $325 million in India. Ericsson has announced an investment of $250 million for telecom manufacturing and research and development in India.

Telecom major Nokia and Samsung have invested $200 million in the country on a manufacturing facility. Nokia is manufacturing handsets in Chennai and Samsung in Gurgaon. Tessolve Services too will spend $200 million in India on an Assembly Test Mark Pact facility in the Fab City that will come in Hyderabad.

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