Cisco to Invest $1.7 bn in India This Year

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Nearly three months after Cisco Chairman & CEO John Chambers said he will “bet big on India”, the world’s biggest computer networking company outlined its plans to invest around $1.7 billion in a year, becoming the first multinational to make such a commitment since the Narendra Modi government took over in May.

After a few hiccups spate of exits of top officials, fears over business growth in the country Cisco is ready to partner India on the Centre’s digital drive. “Cisco is investing $1.7 billion this year into the India operations,” Cisco’s India President Dinesh Malkani told ET. “The investment includes a $40-million innovation fund and investments into research & development.” “I think (PM Narendra) Modi is going to turn around the country,” Chambers had said during an earnings call in August. “You can see the enthusiasm, both the citizens and the businesses there are betting on a single emerging market. I would bet on India right now in a big way.” Original post at ET Telecom

Wahengbam Rorrkychand

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