US giant Cisco to invest $2 billion in India

j464i4dkThe US technology giant said it is committed to manufacturing in India and will invest $2 billion this year. It already pumps in $1.7 billion every year and is to invest an additional $60 million on training and facility expansions.

Cisco Systems CEO/Chairman John T Chambers said they need to equip people in India for the jobs, so they plan to directly and indirectly invest up to $20 million to train an additional 120,000 students by 2010.

Cisco also plans to accelerate the development of India’s electronics manufacturing ecosystem, for which purpose Cisco will hold a conclave of 75 of its key suppliers in Bengaluru in February.

Cisco CEO designate Chuck Robbins said its annual investments of $1.7 billion includes $250 million on R&D.  A $40 million investment on expansion facilities is currently underway.