3i infotech to invest Rs200cr in rural internet outlets

Software services firm 3i Infotech Ltd. plans to invest Rs. 200 crore to set up 12,500 internet outlet by December this year, announced company's executive director and president for South Asia Anirudh Prabhakaran.

Addressing a press conference Prabhakaran said  "We will fund this through internal accruals,".  We plan to have 2,000-plus stores live by March 2009 and the balance before December 2009."

The outlets will provide services such as insurance and telecom in partnership with ICICI Lombard, Airtel and Max New York Life, he added.