Union Govt. plans JV with IUNet

BANGALORE: The Union Government will shortly enter into a joint venture with IUNet of the US for executing a high-speed data transmission network in the country at a cost of Rs 800

crores.

The Department of Telecommunications (DoT), along with the Department of Electronics (DoE) and several Indian Institutes of Technology (IITs), will hold 51 per cent equity in the proposed company, while IUNet will hold the remaining 49 per cent equity as foreign direct investment. This was announced by DoT secretary and Telecom Commission Chairman and Secretary Anil Kumar.