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|April 23, 1998
KLG Sytel to set up US subsidiary
Another Indian company plans to open a fully owned subsidiary in the US -- KLG Systel.
The initial investment will be a tiny $ 15,000 since it calls for approval from the Reserve Bank of India. But the subsidiary is essentially a part of the company's plans to expand its export business and to help it earn up to 50 per cent of its gross income from exports in 1999.
Within India, the New Delhi-based KLG Sytel, which provides software
The company has also posted a net profit of Rs 10.2 million on a gross income of Rs 81.1 million. This is up from last year's profit of Rs 736,600 on a gross income of Rs 64.2 million.
-Compiled from the Indian media
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