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| Technology
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| Scams everywhere, Satyam not to |
| Scams everywhere, Satyam not to affect India: Intel
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| UNITED STATES OF AMERICA
, 14-January-2009
4:39:5 AM |
| Intel Capital, part of the world's largest chip maker, on Wednesday said that its investments into India will not be affected by the Satyam episode and such incidents happen in every country.
"It shouldn't," Intel Capital managing director for India, Japan, Australasia and south-east Asia Sudheer Kuppam said when asked if there would be impact on Intel capital investment in India after the Satyam episode.
He said, "don't single out India for that. What about Madoff in the US?
You have scam and scandal everywhere."
The company announced an investment of USD 23 million (about Rs 115 crore) in three Indian companies, Indiamart.com, One97 Communications and Global Talent Track (GTT). However, figures were not disclosed.
Indiamart.com is the largest online business to business marketplace, while One97 Communications provides Telecom managed value added services. GTT is a vocational education institute.
The funding will come from the USD 250 million Intel Capital India technology fund. The fund invests in Indian technology companies to help stimulate local technology innovation.
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