Cisco to invest $1 billion in India market

Oct 19, 2005

Cisco Systems has earmarked its largest investment ever outside the United States exclusively for the booming tech market in India.

Cisco President John Chambers announced in New Delhi Wednesday that the U.S. tech giant would invest a whopping $1.1 billion in a list of research, training and startup capitalization activities that will keep the company tied to the advancement of the Indian economy.

"As Indian companies strive to be globally competitive, they have realized the importance of investing in information technology and networking to adapt quickly to rapidly shifting market transitions," Chambers said. "Cisco believes that the Internet, and related technologies, will be a key enabler for India to achieve its goal of becoming a developed nation."

Cisco has five separate business groups operating in India that will be the beneficiaries of the $1.1 billion over the course of three years.

Copyright 2005 by United Press International

Explore further: Microsoft challenging US on overseas data

add to favorites email to friend print save as pdf

Related Stories

Google searches hold key to future market crashes

22 minutes ago

A team of researchers from Warwick Business School and Boston University have developed a method to automatically identify topics that people search for on Google before subsequent stock market falls.

Lenovo's smart glasses prototype has battery at neck

2 hours ago

China's PC giant Lenovo last week offered a peek at its Google Glass-competing smart glass prototype, further details of which are to be announced in October. Lenovo's glasses prototype is not an extreme ...

Recommended for you

Microsoft challenging US on overseas data

2 hours ago

In a case closely watched by the tech sector, Microsoft will challenge Thursday a US court order requiring it to give prosecutors electronic mail content associated with an overseas server.

Facebook's Internet.org expands in Zambia

2 hours ago

(AP)—Facebook's Internet.org project is taking another step toward its goal of bringing the Internet to people who are not yet online with an app launching Thursday in Zambia.

Sony surprises with first quarter profit

2 hours ago

(AP)—Sony Corp. reported a surprise eightfold jump in quarterly profit Thursday as sales got a perk from a cheap yen and its bottom line was helped by gains from selling buildings and its stake in a video-game maker.

Samsung profit falls as smartphone sales slow

2 hours ago

(AP)—Samsung Electronics Co. reported a bigger-than-expected fall in second quarter profit on Thursday and said it was uncertain if earnings from its handset business would improve in the current quarter.

User comments : 0