Tuesday, February 23, 1999
Telco subsidiary to shift base
The Tatas have decided to shift its construction equipment business to Karnataka. Telco Construction Equipment Company Ltd, the new subsidiary carved out of Telco, would be going out of Maharashtra even though the parent company got several tax concessions for its Indica project.
TCW-ICICI plan to invest $35 mn in India
TCW-ICICI India private equity fund, the Mauritius based private equity fund managed by ICICI Venture Funds Management, will invest $35 million in Indian companies as well as overseas companies promoted by Indians in the next one year.
India inching towards debt trap
India may have entered a debt trap with total debt servicing costs during the year amounting to Rs 175,253 crore and actual non-debt receipts expected to be well below the target of Rs 176,902 crore. This indicates the country is spending almost its entire income on servicing old debt commitments.
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