India to soon contribute 5 pct of Cisco revenues http://in.today.reuters.com/news/newsArticle.aspx?type=technologyNews&storyID=2006-12-06T185206Z_01_NOOTR_RTRJONC_0_India-279168-4.xml
Wed Dec 6, 2006
NEW DELHI (Reuters) - India will contribute 5 percent of Cisco Systems Inc's revenues in the next two to three years, and will provide half of the future growth in its staff numbers, Chief Executive John Chambers said on Wednesday.
"India is a very important market for Cisco's global growth strategy," Chambers told reporters while on a two-day visit to India.
San Jose, California-based Cisco, which makes equipment that directs traffic on the Internet, said it was on track with its plan to invest $1.1 billion over next three years in India.
Chambers said Cisco expected to triple its workforce in India in the next three to five years, and saw its local business growing at 20-40 percent a year.
Cisco would invest $100 million to expand its technical services out of India, Chambers said. Further, he expected another $25 million to $30 million would be invested in the next few months in Indian companies involved in broadband content and digital media.
San Jose, California-based Cisco, which makes equipment that directs traffic on the Internet, also reconfirmed its commitment to invest $1.1 billion over next three years in India.
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