Cisco Systems to Invest Over US $1 Billion in India Over Next Three Years; Investments in Research and Development, Leasing and Finance, Sales and Support and Venture Capital Highlight the Importance of the India Market.NEW DELHI New Delhi (dĕl`ē), city (1991 pop. 294,149), capital of India and of Delhi state, N central India, on the right bank of the Yamuna River. & SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif. -- Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. (R) (Nasdaq:CSCO CSCO Cisco Systems Incorporated (stock symbol) CSCO Chief Supply Chain Officer ) today announced a major investment initiative in India totaling US $1.1 billion. This announcement highlights the growing importance of the Indian market in the global economy. The announcement was made by John Chambers John Chambers could be any of the following people:
Chambers discussed Cisco's investment plans in India with the Honorable Prime Minister Dr. Manmohan Singh and the Honorable Minister of Communications and Information Technology, Shri Dayanidhi Maran, while in New Delhi today. "Through the wisdom of its government leaders and the entrepreneurship of its private sector, India has rapidly risen to become a major force in the global economy," said Chambers. "Cisco believes that the Internet, and related technologies, will be a key enabler for India to achieve its goal of becoming a developed nation. 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 also added, "A year and a half ago, Cisco recognized this inflection point Inflection Point An event that changes the way we think and act. -Andy Grove, Founder of Intel. Notes: For example, the fall of the Berlin Wall was an inflection point in global politics and the commercialization of the Internet was an inflection point in technology. in the Indian market and made several strategic investments, which are paying off today. Cisco in India is truly a global success story." The Indian networking market has grown rapidly in the last few years, fueled by liberalization lib·er·al·ize v. lib·er·al·ized, lib·er·al·iz·ing, lib·er·al·iz·es v.tr. To make liberal or more liberal: "Our standards of private conduct have been greatly liberalized . . . , market reforms and telecommunications deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. . In order to better service the needs of Indian customers, eighteen months ago Cisco India formed five separate vertical business groups: IT Services, Enterprises, Service Providers, Government and Defense, and SOHO/Consumer. Cisco's three-year expansion plan in the country will direct investments in the following areas: --US $750 million will be allocated to research and development (R&D) activities, including training, development and staffing over the next three years. Cisco's own R&D activities will be complemented by work done by Indian strategic partner companies. --US $150 million will be dedicated by Cisco Systems Capital -- a division of Cisco Systems, Inc. -- to provide leasing and other financial solutions to Cisco customers and partners. --US $100 million in venture capital will be earmarked by Cisco to invest in Indian start up companies. --US $100 million will be invested in customer support operations -- a significant portion of which will be allocated for technical services, spare parts depots and channel development. Cisco first established operations in India in 1995 and today employs over 1400 people in the country in its Global R&D center in Bangalore and offices in New Delhi, Mumbai, Bangalore, Chennai, Kolkatta, Pune, Hyderabad and Colombo, Sri Lanka. The company also committed to expanding the Cisco Networking Academy The Cisco Networking Academies, part of Cisco Systems, offer networking courses, like the CCNA and CCNP courses, which prepare students for the certification exams of the same name, and other computer-related courses. Program in the country. There are currently 141 networking academies across 22 States and Union Territories in India and the program will be extended further within each State and Union Territory by 2006. About Cisco Systems Cisco Systems, Inc. (Nasdaq:CSCO), the worldwide leader in networking for the Internet, celebrates 20 years of commitment to technology innovation, industry leadership, and corporate social responsibility. Information about Cisco can be found at http://www.cisco.com. For ongoing news, go to http://newsroom.cisco.com. Cisco, Linksys, Cisco Systems, and the Cisco Systems logo are registered trademarks or trademarks of Cisco Systems, Inc. and/or its affiliates in the United States and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. This document is Cisco Public Information. |
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