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Tata IT arm gets clearance for Thai investment
Bangkok,
Feb
20:
Tata
Consultancy
Services
(TCS)
has
received
clearance
for
a
one
million
US
dollar
investment
in
software
development
in
Thailand.
Thailand's
Board
of
Investment
(BoI)
has
allowed
TCS
to
invest
32
million
Baht
(1,016,485
US
dollars)
in
the
IT
sector
in
the
country.
As part of national policy to promote the IT industry, TCS has been allowed duty-free equipment imports and an eight-year corporate tax holiday. The TCS venture in Thailand would cater to banks, factories, telecommunications and the animation industry, said BoI Secretary-General Satit Chanjavanakul, after the announcement Feb 19.
UNI
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Story first published: Wednesday, February 20, 2008, 14:12 [IST]
