The Hindu Business Line : Satyam chief favours body for investment overseas

Hyderabad, Nov. 28 The Chairman of Satyam Computer Services, Mr B. Ramalinga Raju, has called upon the Government to set up a body for investment overseas.

Expressing concern over surging rupee and its impact on dollar and exporters, Mr Raju said such an investment body would have the mandate to invest overseas aimed at balancing foreign inflow and outflow of funds.

Speaking at Infocomm-2007 here today, Mr Raju said: “Dollar is weakening rapidly. Look at the challenge in the background of infrastructure issues staring at us, human resources development is not happening at the expected pace.”

“These are clear signs that we could fritter away the opportunities thrown up by information and communication technology sector that come India way. If we don’t act now, other counties will pick them up and pose challenges,” he said.

Trillion-dollar biz

He said the IT sector in India would be a trillion-dollar business, which would be as large as India’s present economy in the next 15 years. While complimenting some of the initiatives of the State Government, he said that a concerted effort would be required at the national level to harness the potential.

“The world economy is $42 trillion. Over the next 20 years, services alone will account for $30 trillion and more than 60 per cent of them would be delivered on virtual platform,” he said.

Mr Raju felt that there was a need for commoditisation of excellence so that India could show the way to the world in an innovative manner where speed and scale could make huge difference.

“The potential is huge. We have only scratched the surface. All that had happened is only prototype, well tested and validated. We are only waiting for the revolution to happen,” said Mr Raju.

The Andhra Pradesh Governor, Mr N.D. Tiwari, inaugurated the Infocomm-2007 and presented the awards to winners.

More Stories on : Events | Overseas Investments | Forex

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Ness Tech to tap R&D avenues

Infosys enters BSC Hall of Fame

Wipro adjudged Global MAKE winner

TRAI recommendation: Bharti, RCom get relief

Auctioning best way to allocate spectrum: Raja

Voxtel unveils plans

SAP sees India major driver of growth

New agency to market P&G site

Let both telecom, cable operators offer Internet Television: TRAI

IBM enters multi-year deal with Ordyn

mGinger gets $2 m funding from Draper Fisher

Bengal Govt woos tech companies

Satyam chief favours body for investment overseas

‘Fraudulent’ deals: Hexaware ropes in Mecklai