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FIPB clears Microsoft plan

The Foreign Investment Promotion Board has recommended the clearance of Microsoft's plan to bring $3 million into the country to the industry ministry.

Microsoft plans to bring in the money as additional funds to develop software at its new centre at Hyderabad.

Government sources said Microsoft has plans for more software development centres in India. The company has sought the FIPB's okay

T O D A Y

• Able but not willing • Microsoft plan cleared • Satyam turnover up • KLG Systel's subsidiary

in advance since that would mean input of more foreign funds.

Other proposals cleared include Essar Commvision Pvt Limited, Reynolds, Cuddalore Power Co Ltd and Rameshwar Vaibhav Development Pvt Limited.

-Compiled from the Indian media

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