[icernet] New DIT Plan Points To End Of The Road For Media Lab Asia

[Arul Selvan]

  The much-hyped Media Lab Asia project is on the verge of closure. 
Department of Information Technology (DIT)—in its revised plan—has 
sidelined Media Lab US and proposed to make it a purely government-run 
research outfit. This would lead to the end of the joint venture with 
Media Lab US, which in turn would entail dropping the ‘Media Lab’ tag. 
Media Lab Asia was floated jointly by DIT and Media Lab US in June 2001 
under Section 25 of the Companies Act. The scope of the project has also 
been scaled down considerably by the DIT. The fund requirement of Rs 
5127.5 crore originally envisaged has now been reduced to Rs 900 crore.

Source:
http://www.financialexpress.com/fe_full_story.php?content_id=32746