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