Global IT company Cisco announced a $100 million investment plan for India to support the next phase of digitisation in the country.
- The planned series of strategic investments include $40 million to fund early-stage and growth-stage companies in the country and train 250,000 students by 2020.
- The investment forms part of Cisco’s global ‘Country Digitisation Acceleration’ or CDA programme, under which the company will collaborate closely with state governments on strategic initiatives including the addition of six new innovation labs, three centres of expertise, funded university collaborations and skills investments.
“Digitisation goes beyond connectivity. With our increased investments in education and innovation, we are harnessing the power of technology to launch a generation of problem solvers who will innovate like technologists, think like entrepreneurs and act as social change agents”
– John Chambers (CISCO Chairman)
- Cisco Systems, In. is an American multinational technology company headquartered in San Jose, California.
- It designs, manufactures and sells networking equipment.
- It is considered to be the biggest networking company in the world.
- Throughout the mid-2000s, Cisco built a significant presence in India, establishing its Globalization Centre East in Bengaluru for $1 billion, and planning that 20% of Cisco’s leaders would be based there.