Indo-U.S. venture for web based services

By Our Special Correspondent

NEW DELHI, MARCH 22. The first joint venture during U.S. President, Mr. Bill Clinton's visit was announced today with the former U.S. Senator, Mr. Larry Pressler, who is part of the entourage, agreeing to become a board member and assisting in promoting the company's business in the U.S. Although the spadework was being done for quite some time, but Mr. Clinton's visit accelerated the process and the formal announcement was made today with Mr. Pressler in attendance.

``I am proud to be associated with Mr. Raman Roy and Chrysalis in accelerating the web based services revolution in India,'' said Mr. Pressler. The new company - Spectramind - will be a joint venture between a U.S. based venture capital fund Chrysalis and Mr. Raman Roy who till last week was the Chief Executive Officer of GE Capital in India. The company plans to invest up to Rs. 100 crores to expand operations, build the infrastructure and recruit manpower.

As a third party provider, Spectramind will partner with international dotcoms to migrate their customer service operations to India. The company will provide customer relationship management and outsourced business functions for rapidly growing dotcoms as well as large companies across the board.

The firm's approach is to partner with entrepreneurs, exclusively in the areas of internet, software and IT enabled services.

``We have proven the value that can be derived by migrating core customer care processes to India,'' said Mr. Roy. He was speaking from experience as he had built the GE Capital Services' main outsourced services centre, a 2,700 person operation that is highly regarded as the benchmarked for the remote services industry in India which is rapidly growing into a major segment by itself.

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Section  : Business
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