Business Standard Reports...
Govt reluctant to make an upfront payment of $100mn demanded by IBM.
There seem to be hiccups on the way towards setting up Intel?s proposed $700-million wafer testing facility in India as the government appears reluctant to meet some of the demands raised by the world?s largest chipmaker.
Apart from flexibilities on external commercial borrowings and tax benefits, Intel had asked the government to make an upfront payment of $100 million, officials told Business Standard today.
But the government is not ready to make this kind of a contribution. A team from Intel negotiated the terms of a deal with officials last week but a breakthrough could not be achieved, officials said.
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