BANGALORE: Technology giant IBM Corp launched its global leasing and
financing unit on Thursday in India and said the venture was aimed at helping
its customers easily access new technologies.
"Our customers are eager to deploy new technologies and migrate more
quickly to e-business environments," IBM India chief executive Ranjit
Limaye told a news conference.
"With IBM Global Financing's (IGF) flexible and attractive financing
programs, customers will preserve their capital and have a greater access to the
marketplace," he said.
Limaye said that IGF's India unit was the twelfth in Asia and would focus on
leasing and financing mostly to large customers to upgrade their computer
technology hardware, software and services.
IBM officials said that the firm had an ongoing relationship with 15 Indian
banks and five non-banking financial companies from which it would source its
funds.
The officials declined to give details of the funds that would be made
available in India.
A statement from IGF said that it had arranged for $44 billion of financing
globally during 1999.
IBM has a personal computer manufacturing facility, software labs and
research and development centers in India.
(C) Reuters Limited 2000.