Cisco takes India seriously, to the tune of $1 billion
Cisco announces a $1 billion bet on India, including a $100 million fund to invest in Indian start-ups. This is a shift. India was once considered primarily a great place for outsourcing. Now Cisco, which is one of Silicon Valley's biggest companies, is taking it seriously as a place to invest directly, and build products from the ground up. It is seeing its product sales in India increase too. It is tripling its staff there. Here's the Mercury News story today. We should mention that two other Silicon Valley household names, Oracle and Intel, are also there in a big way.
http://www.siliconbeat.com/cgi-bin/mt331/mt-tb.cgi/801
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Great news for many startups in the Indian sub-continent as well as for its economy. John Chambers is currently on a official visit to that country and so definitely Cisco is very serious about India.
It'd be interesting to see where in India is it going to establish new bases. They are probably looking at Hyderabad as an alternative.
Startups."in making"
Startups.in on October 20, 2005 9:44 AMComment link
Very interesting info, Cisco and all other Telco's have there eye's set on India & China for next growth cycle, Getting paid in India is a problem for Telco's infrasturcture projects done by companies like Bharti, BSNL etc.. as these are owned 50% by goverment lots of poltics goes on. rememeber Enron's power plant in India in ninties, where GE/Bechtel lost money $1 B project. Also getting product built in India is a challenge by itself! I wish Telco's good luck on this.
RK on October 20, 2005 10:44 AMComment link
