Monday, June 30, 2014: US technology giant Cisco Systems has expressed its will to scale its presence in India. The company plans to do so by entering to electronics manufacturing sector.
Revealing the plans, Amitabh Kant, cisco chairman and CEO John Chambers said, “India has a very bright and prosperous future. We like the new government’s business plans and where they are headed, the ability to digitise the country and bring all the benefits of the Internet to all the citizens, in areas like healthcare, education, and job creation is very exciting. We see a government willing to make changes and we want to be a partner in that.”
With Narendra Modi’s stable government, foreign investors are getting attracted towards the country to be a part of the nation’s growth story. Recently, telecom minister Ravi Shankar Prasad shared his plans to focus on electronic manufacturing, which he touted as an employment-based sector. Cisco wants to take advantage of the growing industry, which is poised to reach $400 billion by 2020.
The Modi government is also looking at liberalising the FDI policy regime, making it more flexible and easy for foreign investors to do business. Cisco representatives have met Cabinet ministers and Prime Minister Narendra Modi. They have also raised their concerns with industries bodies including CII and FICCI.
