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April 3, 1996

HARRIS GOES NAP IN INDIA, PUTS $875M INTO VENTURES

By CBR Staff Writer

Without waiting for the result of the General Election, in which pro-business and anti-business forces are vying for the vast electorate’s attention, Harris Corp announced yesterday that it is to invest $875m over the next five years in four telecommunications alliances with Indian companies – and expects to generate total revenue exceeding $800m over the same period. The agreements include an ARM Harris Communications Ltd 50-50 joint venture with ARM Pvt Ltd in Hyderabad to develop and manufacture exchanges for the government department of telecommunications and new private operators of fixed line telephones; a joint venture with Advanced Fibre Communications Inc, S M Creative Pvt Ltd, and ARM to manufacture digital loop carrier and local loop products; an agreement with Shyam Telecom Pvt Ltd, India, ARM Ltd and Lintech Ltd of Hong Kong to bid for and provide basic telephone services in the state of Rajasthan; and it is negotiating a $30m joint venture with Tata Sons & Co Pvt Ltd’s Tata Telecom Ltd 1996 to make microwave digital radio systems in India. Harris also signed a technology licensing agreement with BPL Telecom Ltd, part of BPL Ltd, to develop, manufacture and sell Harris’s PABXs in India. On top of the telecommunications ventures, it is also planning to invest in manufacture of semiconductors, radio and television broadcast and office automation equipment. Nearly 40% of whatever is made in India will be exported to Africa and other South Asian countries.

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