Software exports to grow

Coimbatore, Oct. 18: India’s IT software and services industry has been projected to reach an export potential of $57-65 billion by 2008, Union IT and communications minister Dayanidhi Maran said today. The software industry in India is currently worth $29.5 billion, of which $23.4 billion came from exports, Maran said. India’s export revenue from ITeS-BPO sector grew to $6.3 billion in 2005-06 from $2.5 billion in 2002-03.

Sebi order

Mumbai, Oct. 18: Sebi has said that no “key personnel” of a mutual fund shall be on the board of a venture capital fund to avoid conflict of interest between the activities of mutual funds and venture capital funds. The “key personnel” include CEOs, chief investment officers, fund managers and head of other departments in an asset management company.

Bosch move

Coimbatore, Oct. 18: Bosch will invest 325 million euros (Rs 1,800 crore) in India during 2005-2008 and will try to develop new products, a top executive of the company said today.

Airline merger

New Delhi, Oct. 18: The Air Corporation Employees’ Union (ACEU) has threatened to oppose the amalgamation of Air-India with Indian if its ten-point demand charter is not implemented beforehand.

OIL dividend

New Delhi, Oct. 18: Oil India Ltd (OIL) has paid the government another Rs 168 crore as the final dividend of 80 per cent for the fiscal ended March 31, 2006.