Exhibit 23.4 ------------ CONSENT OF INTERNATIONAL DATA CORPORATION Merrill Lynch & Co. Satyam Infoway Limited To whom it may concern: Per our discussion, you have approval to use the following statistics as stated below. International Data Corporation, or IDC, estimates that: . The number of Internet users in India will increase from 0.5 million at the end of 1998 to 6.6 million at the end of 2002./1/ . The installed base of personal and network computers in India will increase from 1.9 million at the end of 1998 to 8.2 million at the end of 2002./2/ . The number of on-line devices in India was 0.3 million in 1998./3/ . The number of on-line devices as a percentage of the installed computer base in India was 11.0% in 1998./4/ . The amount of Internet commerce revenues in India will increase from $3.5 million at the end of 1998 to $593.6 million at the end of 2002./5/ . The number of Internet users in the United States was 62.8 million at the end of 1998./6/ . The number of Internet users in the Asia/Pacific region was 10.2 million at the end of 1998./7/ - ---------------- /1/ IDC Report 19127. Internet India: the One-Rupee Market! p.5. /2/ IDC Bulletin (Analyst: Richard Jacobson) Asia/Pacific Internet Infrastructure, p.2. /3/ IDC Report 18697, The Internet Market in Asia Pacific (excluding Japan) 1997-2003, p.120. /4/ Source: IDC /5/ IDC Bulletin (Analyst: Richard Jacobson) Asia/Pacific Internet Infrastructure, p.2. /6/ IDC Report 19262, The Global Market Forecast for Internet Usage and Commerce, p.17. /7/ IDC Report 19262, The Global Market Forecast for Internet Usage and Commerce, p.19. . The number of on-line devices in the United States was 87.4 million at the end of 1998./8/ . The number of on-line devices in the Asia/Pacific region was 9.5 million at the end of 1998./9/ . The number of on-line devices as a percentage of the installed computer base in the United States was 54.5% at the end of 1998./10/ . The number of on-line devices as a percentage of the installed computer base in the Asia/Pacific region was 24.9% at the end of 1998./11/ . The total number of Internet users worldwide will increase from approximately 140 million at the end of 1998 to approximates 400 million at the end of 2002./12/ . Revenues from Internet services worldwide such as web hosting will increase from $0.8 billion at the end of 1998 to $11.8 billion at the end of 2002./13/ . Revenues from Internet services worldwide such as e-commerce spending will increase from $50 billion at the end of 1998 to $774 billion at the end of 2002. Sincerely, /s/ Hillary DeMello 2-11-200 Hillary DeMello Corporate Communications Manager - ------------------ /8/ IDC Report 19262, The Global Market Forecast for Internet Usage and Commerce, p.17. /9/ IDC Report 19262, The Global Market Forecast for Internet Usage and Commerce, p.19. /10/ IDC Report 19262, The Global Market Forecast for Internet Usage and Commerce, p.17. /11/ IDC Report 19262, The Global Market Forecast for Internet Usage and Commerce, p.19. /12/ IDC Report 19262, The Global Market Forecast for Internet Usage and Commerce, p.3. /13/ IDC Report 19262, The Global Market Forecast for Internet Usage and Commerce, p.19.