Dec 8, 1999|
India is an important cog in Intel's wheel
Giant chip manufacturer - Intel, is looking at investment options in the Indian telecom sector and complimentary technologies.
News reports reveal that Intel may invest upto US$ 10 m to buy 10-20% stake in companies that fit into its Internet strategy. It is targeting networks as opposed to single personal computers (PCs). It is looking at companies that can create new uses or users for PC products.
Les Vadasz, corporate business development of Intel Corp. remarked - 'Intel invests in companies that can help make computing more visually compelling, more productive and more entertaining for users.'
India figures high in Intel's investment list largely due to the explosive growth of Internet subscriptions in Asia in general and in India in particular. Asian Internet users are expected to rise at an annual growth rate of 40%, and e-commerce is estimated to grow to US$ 32 bn by that time.
Over the past few months, India has witnessed a sharp growth in Internet start-ups, high on ideas but low on finance. Some of these start-ups are providing cutting edge technological solutions in telecom and networking, which fit well with Intel's strategy. If these start-ups get the finance to fuel their growth plans, India could be another Silicon Valley in the making.
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