The Indian Government has approved
America Online Inc's (AOL) $100 million investment in its Indian subsidiary,
Netscape Communications India Pvt Ltd (NCIPL).
NCIPL plans to set up a development centre in
Bangalore, which would initially employ 150 professionals. This centre would develop
software to meet the needs of its parent company.
Subsequently, NCIPL would expand its activities and
provide high-quality telecommunications and Internet services related to
e-mail, web hosting, Internet fax, telephony and e-commerce services. The
company would also carry out business as an ISP.