"We will be making a foray into the area of providing internet services for which we have recently got the approval. We are only waiting for the policy on shift of existing operators to the revenue sharing mode," he added.

Parigi said the new telecom policy has thrown up fresh opportunities for the group and these would be explored over a period of time. He did not rule out the possibility of expansion through acquisitions.

"At the end of the day only three or four players are expected to remain in the telecom business and we are already considered as being one of these. We have been around in the business for a long time and intend concentrating on our core strengths," said Parigi.

Earlier, in his address at a conference on infrastructure - `Creating theFuture', Parigi outlined his vision for a tele-connected India. He said that the country is moving from the industrial revolution to information revolution. According to him, in a tele-connected India all transactions would take place from the residence itself. Convergence would result in all information flowing into a home through just a single link or cable. "The day is not far when the cable television provider will provide telephone service. A computer would be upgraded to a television and a television to a computer,'' said Parigi.

He said belief, world-class telecom infrastructure, leadership and commitment and a sound long-term debt market for raising funds were prerequisites for achieving success in becoming teleconnected.

More funds for Y2K compliance ruled out

Vivek Law

The head of the Government's Y2K cell, Montek Singh Ahluwalia, has said that financial support to Government agencies would be considered if they could convince the Government of what they could not achieve owing tospending on tackling the Y2K problem. Ahluwalia told The Financial Express that at this point of time there was no issue of further allocations to Government agencies on tackling the Y2K problem. The Government has already allocated Rs 50 crore for spending on Y2K.

"We are telling them that if they do not invest in tackling the Y2K bug then their entire operations could be affected. However, if they come to us later and convince us of how their other plans could not be implemented due to the Y2K project, we would consider financial support," said Ahluwalia.

"As far as the private sector is concerned the budget has already announced tax sops," he said. "We are monitoring the situation through regular dialogue with various Government agencies. We are telling them that there is no room for complacency but we are hopeful that most systems should be Y2K compliant by September or October this year. We will be able to achieve Y2K compliance ahead of the deadline. The only difference is that while the restof the world would be tackling the problem by March or April, we would be doing so by September or October," he added.