Boeing wats to set up R & D subsidiary in India

(Your Special Friend) wrote in message . com...
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.

STFU bungholes