Cisco Systems plans to invest US$1.1 billion in India over the next three years.
The announcment was made during a visit with Indian Prime Minister Dr. Manmohan Singh and the Honorable Minister of Communications and Information Technology, Shri Dayanidhi Maran, in New Delhi, by John Chambers, President and CEO of Cisco Systems.
Cisco's three-year expansion plan in the country will direct investments in the following areas:
- US$750 million will be allocated to research and development (R&D) activities, including training, development and staffing over the next three years. Cisco's own R&D activities will be complemented by work done by Indian strategic partner companies.
- US $150 million will be dedicated by Cisco Systems Capital - a division of Cisco Systems, Inc. - to provide leasing and other financial solutions to Cisco customers and partners.
- US$100 million in venture capital will be earmarked by Cisco to invest in Indian start up companies.
- US$100 million will be invested in customer support operations - a significant portion of which will be allocated for technical services, spare parts depots and channel development.
Cisco first established operations in India in 1995 and today employs over 1400 people in the country in its Global R&D center in Bangalore and offices in New Delhi, Mumbai, Bangalore, Chennai, Kolkatta, Pune, Hyderabad and Colombo, Sri Lanka.
The company also committed to expanding the Cisco Networking Academy Program in the country. There are currently 141 networking academies across 22 States and Union Territories in India and the program will be extended further within each State and Union Territory by 2006http://www.cisco.com
