US technology giant and one of the major networking equipment manufacturers, Cisco, has joined the bandwagon of Make in India and has pledged to pour $2 billion into the world’s fastest growing economy.
“We are investing big in India. We are committing manufacturing in India. We need to skill people here for the jobs. We plan to directly and indirectly invest up to $20 million to train additional 120,000 students by 2020,” Cisco Systems chairman and CEO John T Chambers said.
The tech giant is planning to begin manufacturing in India within two quarters after regulatory issues and tax related corrections are put in place. He, however, did not explain regulatory and tax structure-related changes that Cisco expects India to list out.
Mr Chambers said that Cisco would soon accelerate the development of India’s electronics manufacturing ecosystem, and the company would organise a conclave of 75 of its key suppliers in Bengaluru in February 2016 to drive collaboration on product development.
Cisco’s CEO-designate Chuck Robbins said that the company invests $1.7 billion every year, which includes $250 million on R&D in India. It would invest additional $60 million on training and facility expansion in the country: $40 million investments on expansion of facility is currently underway and the remaining $20 billion will be invested over the next five years.
Earlier, Mr Chambers met Prime Ministet Narendra Modi and discussed the company’s manufacturing and business commitment for India under ‘Digital India’ programme.
Author Profile
- India Writes Network (www.indiawrites.org) is an emerging think tank and a media-publishing company focused on international affairs & the India Story. Centre for Global India Insights is the research arm of India Writes Network. To subscribe to India and the World, write to editor@indiawrites.org. A venture of TGII Media Private Limited, a leading media, publishing and consultancy company, IWN has carved a niche for balanced and exhaustive reporting and analysis of international affairs. Eminent personalities, politicians, diplomats, authors, strategy gurus and news-makers have contributed to India Writes Network, as also “India and the World,” a magazine focused on global affairs.
Latest entries
DiplomacyDecember 14, 2024India, Iran and Armenia Advance Connectivity Push with Trilateral Talks in New Delhi- DiplomacyDecember 13, 2024Brazil’s G20 Presidency will focus on tangible results on UNSC reforms, climate action
- DiplomacyDecember 6, 2024India and Vietnam Strengthen Security Ties at 3rd Deputy Ministerial-Level Dialogue
- India and the WorldDecember 6, 2024India and UK Revitalize Strategic Ties at 2+2 Dialogue in New Delhi
