Craig West
September 22nd 03, 03:56 AM
(Your Special Friend) wrote in message >...
> Boeing seeks FIPB nod for R&D arm
Pretty ironic for a country that cant even design a decent airport and
runs a third rate airline.
Sometimes I wonder what these MNCs are thinking.
>
> Partha Ghosh in New Delhi | September 20, 2003 11:19 IST
>
> Boeing, the world's biggest aerospace company and aircraft
> manufacturer, has decided to develop India as a research and
> development hub for engineering analysis and aerospace design. It will
> also outsource technology-oriented work from here.
>
> Earlier this week, the company approached the Foreign Investment
> Promotion Board to set up a wholly owned subsidiary in the country to
> engage in infotech and software support and development activities. It
> will also undertake engineering analysis, design and project
> management services and R&D activities, besides performing technical
> and outsourcing jobs.
>
> The company will invest $800,000 in the first year and $4 million in
> the next four years, which will be routed through its Chicago-based
> investment arm, Boeing International Corporation.
>
> Officials confirmed that an application had been filed with the
> government earlier this week. The company's legal advisers also
> confirmed that an application had been moved with the FIPB this week,
> but declined to provide further details.
>
> Boeing's senior vice-president, Dinesh Keskar, told Business Standard
> from the United States that there was a possibility of setting up an
> R&D base in the country. But he could not confirm whether a formal
> request had been made to the authorities. "We have worked with
> companies such as Infosys in the past," he pointed out.
> Boeing seeks FIPB nod for R&D arm
Pretty ironic for a country that cant even design a decent airport and
runs a third rate airline.
Sometimes I wonder what these MNCs are thinking.
>
> Partha Ghosh in New Delhi | September 20, 2003 11:19 IST
>
> Boeing, the world's biggest aerospace company and aircraft
> manufacturer, has decided to develop India as a research and
> development hub for engineering analysis and aerospace design. It will
> also outsource technology-oriented work from here.
>
> Earlier this week, the company approached the Foreign Investment
> Promotion Board to set up a wholly owned subsidiary in the country to
> engage in infotech and software support and development activities. It
> will also undertake engineering analysis, design and project
> management services and R&D activities, besides performing technical
> and outsourcing jobs.
>
> The company will invest $800,000 in the first year and $4 million in
> the next four years, which will be routed through its Chicago-based
> investment arm, Boeing International Corporation.
>
> Officials confirmed that an application had been filed with the
> government earlier this week. The company's legal advisers also
> confirmed that an application had been moved with the FIPB this week,
> but declined to provide further details.
>
> Boeing's senior vice-president, Dinesh Keskar, told Business Standard
> from the United States that there was a possibility of setting up an
> R&D base in the country. But he could not confirm whether a formal
> request had been made to the authorities. "We have worked with
> companies such as Infosys in the past," he pointed out.