Financial Daily from THE HINDU group of publications
Friday, May 31, 2002
Financial Daily from THE HINDU group of publications Friday, May 31, 2002 |
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Software Corporate - Mergers & Acquisitions Info-Tech - Software Software exporters allowed to pick up stake in start-ups Our Bureau
MUMBAI, May 30 INDIAN software exporters have been permitted to pick up equity up to 25 per cent of their value of exports in overseas start-up companies facing liquidity constraints. The Reserve Bank of India said on Thursday that the move was aimed at strengthening the competitive advantage of Indian software companies. These equity acquisitions are expected to help Indian exporters in getting long-term export orders and could take place without entering into a joint venture agreement with the overseas entity, according to a RBI press release.
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