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HT to raise stake in

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HT to raise stake in

The HT management feels that the Internet business will grow rapidly in the next few years. According to the Nasscom-McKinsey survey-1999, it has been predicated that India can earn revenue of $10 billion from e-business solutions by 2008. There is pending demand of more than one million Internet connections in India. It is expected that there will be about 1.6 million Internet subscribers (or 5 million users) by March-2001. This figure is likely to go up to 4 million subscribers (10 million users) by March-2002 and 8 million Internet subscribers (18 million users) by March-2003. More than 81 per cent of stand alone PC's sold in India during the financial year 1999-2000 were driven by the need to access the Internet. The decision to hike the stake will allow HT and to work more closely, leveraging the existing synergies and strategic strengths (off-line & on-line).


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