TCIL to invest $5m to set up subsidiary in US

NEW DELHI: The government on Wednesday approved the formation of a wholly owned subsidiary company of Telecommunications Consultants India (TCIL) in the US for ICT related work. The Cabinet nod includes TCIL's equity investment of $5 million in the proposed company, in a phased manner, an official statement said, announcing the approval for "formation of 100 per cent owned Corporation of Telecommunications Consultants India (TCIL) in USA".