Intel plans investments in India
26 Jun 1999
The microprocessor giant Intel is to invest in ten more Indian companies. This is as part of its business expansion strategy in the country and its efforts to drive the technology forward.
Talks are on now with these firms about the terms and conditions. Intel will make these investments through Intel Asia Electronics Inc., which is a fully owned subsidiary of Intel Corporation. This investment will be in two phases over the next two years. The names of the companies and the amounts to be invested are not known now. Intel already has a stake in the Internet publishing company, Rediff on the Net and in a Bangalore based company, Networking Solutions.
Meanwhile Intel''s e-commerce project is expected to be ready in another three or four months. Intel expects to do all its business transactions to go online by October. It transacts a substantial volume of business through e-commerce now and foresees a bright future for e-commerce in India.
Intel has mooted a worldwide venture capital fund of about $3 billion which is available for Indian ventures.
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