Microsoft unveiled its largest investment outside of the U.S., when it set aside about U.S. $400 million for information technology and education development projects in India. Bill Gates, chairman, said the investment over 3 years would enhance the presence of the software developer in India, where it operates a software development centre in the southern city of Hyderabad. Microsoft expects to more than double to 500 the number of engineers it employs in Hyderabad.
Mr. Gates said the investments would not be through stakes in local companies. Instead, as in the past, the investment would be through expenditure on product development that would make Microsoft "a significant customer" for Indian IT. The investment would entail software testing and reconfiguring products and applications for particular markets, as well as education and some business partnerships. (Financial Times)
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