Reply #65: US Biz Investment Report: Cisco To Invest $1.1B in India [View All]

[UpInArms]

How 'bout that "job creation"!

http://www.redherring.com/Article.aspx?a=14055&hed=Cisco+Invests+%241.1B+in+India+

Network equipment maker will invest $100 million in Indian startups and may set up a manufacturing plant.
October 19, 2005

Cisco Systems said Wednesday that it plans to invest $1.1 billion in India over the next three years in its largest investment yet outside the United States.

Cisco also plans to double its Indian staff from 1,400 to 2,800 over the next three years and will consider setting up a manufacturing plant.

Cisco CEO John Chambers is on a three-day visit to India, meeting prominent government officials, large customers, and staff members.

Shares of Cisco were down a penny to $16.97 in recent trading.

The $1.1 billion will be spent on several initiatives, including $750 million on research and development. Another $150 million will be dedicated to Cisco Systems Capital, a division of Cisco Systems that provides leasing and other financial services to Cisco customers and partners.

Another $100 million will be set aside for investments in Indian startups. Customer support activities will be allocated $100 million as well.

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