Scams everywhere,Satyam not to affect India: Intelhttps://indianexpress.com/article/technology/technology-others/scams-everywhere-satyam-not-to-affect-india-intel/

Scams everywhere,Satyam not to affect India: Intel

Intel Capital,part of the world's largest chip maker,on Wednesday said that its investments into India will not be affected by the 7,000 cr Satyam fraud and such incidents happen in every country across the globe.

Intel Capital,part of the world’s largest chip maker,on Wednesday said that its investments into India will not be affected by the Satyam episode and such incidents happen in every country.

“It shouldn’t,” Intel Capital managing director for India,Japan,Australasia and south-east Asia Sudheer Kuppam said when asked if there would be impact on Intel capital investment in India after the Satyam episode.

He said,”don’t single out India for that. What about Madoff in the US?

You have scam and scandal everywhere.”

The company announced an investment of USD 23 million (about Rs 115 crore) in three Indian companies,Indiamart.com,One97 Communications and Global Talent Track (GTT). However,figures were not disclosed.

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Indiamart.com is the largest online business to business marketplace,while One97 Communications provides telecom managed value added services. GTT is a vocational education institute.

The funding will come from the USD 250 million Intel Capital India technology fund. The fund invests in Indian technology companies to help stimulate local technology innovation.

Intel Capital invested around USD 50 million last year in nine Indian companies,six of these were new investments.

Kuppam said the company sees the global crisis as a good opportunity to invest in companies,which are available in good valuations.

He added that the company will also invest in the Indian telecom companies after they obtain spectrum,refusing to give any investment figures.