EXHIBIT 10.2

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RESEARCH CENTRE                WILL SIFY OVERTAKE VSNL?

Did you know...                Satyam  Infoway  seems  to  be  inching   towards
                               leadership in the dial-up  access  segment of the
Techreckoner                   ISP  market,  largely  due  to  the  first  mover
                               advantage  among private ISPs and also because of
Suggest Research               its  presence  as a service  provider  in various
                               Internet  businesses.  ITspaceResearch  estimates
Partner Programmes             that at the end of Q3 FYOO, Sify has been able to
                               capture a market share of 33 percent,  as against
Resources                      a share  of 44  percent  of  VSNL  in the  Indian
                               Internet access market.

                               WE ATTRIBUTE SATYAM'S RISE TO THE TOP  SLOT AMONG
                               PRIVATE ISPS TO THE FOLLOWING REASONS:

                               1.  Satyam has been the forerunner in associating
                                   with alternate channels including PC OEMs, IT
                                   channels and traditional retail.

                               2.  Satyam's  presence  as a leading portal and a
                                   high  brand recall  has  helped  the  company
                                   garner critical consumer mind share.

                               3.  Satyam  is  offering  services  in almost all
                                   major  cities in  the  country, and hence has
                                   been able to tap the mobile users of Internet
                                   services.

                               4.  Satyam has also sponsored a chain of Internet
                                   parlours across the country.

                               5.  Satyam's  presence in offering other services
                                   such as B2B  consultancy, VPNs and  corporate
                                   accounts have  helped  to  improve its market
                                   share.

                               6.  Sify  has  constantly  grown  by  almost  200
                                   percent from June 2000 to January 2001, Sify,
                                   which  had about two lakh subscribers by June
                                   2000, has expanded to the existing subscriber
                                   base of four lakh. (Table 1)


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                     ISP        SUBSCRIBER BASE IN   GROWTH RATE IN
                                       LAKH             PERCENT
                     VSNL               5.2                84
                     Sify               4.0               100
                    Mantra              1.3               260
                   Others*              1.5               100

                Table 1:  Growth Rate of leading ISPs in India
                Source:  ITspaceResearch Telecom Programs January 2001


                     ISPS        CURRENT RATES (100 HRS)
                     VSNL               750
                     Sify               900
                   Dishnet              750
                   BPL Net          650 (80 hrs)
                Mantra online     499 (75-150 hrs)

                Table 2:  Current rates of Internet access
                Source: ITspaceResearch Telecom Programs January 2001


                ITSPACERESEARCH FORECAST:

                    o    Sify looks like to be the only ISP with a potential  to
                         beat VSNL,  by the end of 2002,  if it continues at the
                         same pace.  The large cash  reserves of the company can
                         help Sify to sustain itself in this business.

                    o    Other  private ISPs also would enjoy the maximum in the
                         year 2001 by having a greater  hold in the market  with
                         interesting  packages  like the  Post-paid and Pre-paid
                         schemes.  Such a concept has been already  initiated by
                         the ISP NOW,  which  sells its CD at Rs.  199 and after
                         the activation,  bills the customer on a monthly cycle.
                         These schemes are aimed at preventing  the  subscribers
                         from switching to another service provider.

                    o    Most of the ISPs would also come out with free Internet
                         access during night hours like VSNL.

                    o    For  attracting  more  subscribers,  other  interesting
                         packages are  expected to be offered by different  ISPs
                         like BSES Telecom, which is about to announce broadband
                         services through its Powersurfer CD, where  subscribers
                         will be eligible to get discounts.

                GLOSSARY:

                    o    POTS - Plain Old Telephone Systems.

                         Other  ISPs in  Table 1  include  Dishnet,  NOW,  BSES,
                    o    Telecom, BPL Net etc.

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                APRIL 2001            (C)ITSPACE.COM           ITSRCOMPAPR01AO45



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