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Cisco To Invest Over $1 Billion In India Over Three Years
Cisco Systems Inc. plans to invest more than $1 billion in India over the next three years in research and development, sales and startups.
October 19, 2005
1 Min Read
BANGALORE, India — Cisco Systems Inc. plans to invest more than $1 billion in India over the next three years into research and development, sales and startups.
Cisco Chairman and CEO John Chambers outlined the networking company’s $1.1 billion investment plans during a meeting with India’s Prime Minister Manmohan Singh and Information Minister Dayanidhi Maran in New Delhi on Wednesday (Oct. 19).
"Cisco believes that the Internet, and related technologies, will be a key enabler for India to achieve its goal of becoming a developed nation," Chambers said.
Last year, Cisco announced several strategic investments. Cisco, which set up shop in India in 1995, has an R&D center here employing about 1,400 staffers. That total is expected to triple over the next three years.
Cisco’s Indian investment plans include:
$750 million for R&D projects, including training, development and staffing over the next three years. Cisco's R&D will be complemented by Indian strategic partners.
$150 million to be dedicated by Cisco Systems Capital to provide leasing and other financial assistance to customers and partners.
$100 million to be invested in Indian start-up companies.
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