I-Velocity awaits Ministry nod to enter India

Televisionpoint.com Correspondent
One may not have to buy an expensive software platform and a corresponding hardisk to record live TV in order to watch it later if the government clears the proposal by US based I-Velocity to launch operations in India.

The company has sought the government's nod to collaborate with local cable operators and Internet service providers to enable them to offer 'interactive content on demand service (iCod)'.

However, the proposal is yet to be cleared as the current policy is not clear on allowing companies from abroad to develop software and provide iCod services in India.Besides, while the department of telecom has supported the move and has cleared the proposal, the Information & Broadcasting (I&B) ministry has remained silent on the issue.

The FIPB can only clear I-Velocity's application to set up a 100% wholly-owned subsidiary in India if the I&B ministry supports the proposal. This is because, "The proposed deals with development of software and providing interactive content on demand service in select locations akin to broadcasting, and the views of the concerned ministry are important", FIPB said.

I-Velocity, in its application said that it would initially target such areas where large number of IT professionals live, such as Noida and Gurgaon.