Footwear major Liberty on 8 Dec 2010 announced that it formed a subsidiary along with Sunfest Infratech and Power with an objective to foray into the Indian telecom equipment market. Liberty also announced that it tied up with companies from Israel, Taiwan and South Korea. Sunfest on its part invested Rs 40 crore in joint ventures with several firms including Israel based Runcom technologies. Liberty is one of top five footwear manufacturing has an annual turnover of $200 million.
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