First Facebook, then Microsoft and now Cisco is the the latest entrant in Indian Prime Minister, Narendra Modi’s Digital India initiative. The computer networking company recently announced its plans to invest around USD 1.7 billion in India in a year, in a bid to be a part of Centre’s digital drive.
“Cisco is investing USD 1.7 billion this year into the India operation. The investment includes 40 million innovation fund and investments into research and development.,” said Dinesh Malkani , President of Cisco India to an Indian financial daily.
Jonh Chambers , Chairman and Chief Executive Officer had hinted on this move three months earlier than the formal announcement when he said that they will “bet big on India” on back of Mr Modi’s ambitious digital India project.
Cisco will bid for smart citites contracts in the country and other such initiative which are going to lead the digital movement in India.
Announcing the company’s earnings earlier this year, Mr Chambers said that he wants Cisco India’s contribution to the parent company to rise from less than 2 per cent now to at least 5 per cent.
Cisco is looking forward to the new digital-savvy government with a new division called the Growth Vertical, which will focus on areas such as eHealthcare, eEducation, smart cities and the INR 1.13-lakh crore National Optic Fibre Network broadband programme to provide internet connectivity to villages.
Foreign multinationals are keen on partnering with India following the PM’s announcement on
the Digital India project. India is expected to witness change in the internet and digital space which will the key drivers for growth in India.
Following the recent uptick in the internet activity in India, markets are looking for opportunities in areas like ecommerce, education, healthcare and banking, among others. A wide range of services are just a click away and marketers’ hot pick is connecting the next billion to the internet.