To enable manufacturing in India, announces investment of USD 60 million
Betting big on India Cisco said it is committed towards India becoming a world leader in manufacturing to support ‘Digital India’ vision and will invest USD 60 million. Every year Cisco pumps in USD 1.7 billion in India and with its annual India revenue standing at USD 1.1 billion Cisco expects it to grow in double-digits over the next four-five years.
We are betting on India in a big way,” announced John Chambers, Chairman and CEO, Cisco, at a press gathering held in Delhi. “India plays a pivotal role in the company’s overall growth, innovation and talent strategy, and we plan to make direct and indirect investment of up to USD 20 million to train an additional 120,000 students in India by 2020. We are also making an investment of an additional USD 40 million for the next phase of expansion in India.”
“We are committed to manufacturing in India,” said Chuck Robbins, incoming CEO, Cisco, “When we met Prime Minister Narendra Modi he said why not make India your home. He understands Technology… we are excited at the vision India has. “The Indian government’s vision for a Digital India is truly transformative and will create huge opportunities for the country and its citizens.”
To help accelerate the development of India’s electronics manufacturing ecosystem, Cisco will organize the Cisco Design and Innovation Conference in Bengaluru in February 2016, to bring together over 75 of Cisco’s key suppliers and partners to drive collaboration on product development and IoE enabled supply chain technology.
As part of Cisco’s commitment to accelerating India’s digital transformation, the company will expand the Cisco Networking Academy program to help India increase its pool of highly skilled technology professionals.
Cisco’s USD 40 million investment will go towards the expansion of its India facility which is spread over 4 million square feet, and designed as a campus-as-a-city for thousands of Cisco employees to work, play and learn.