Cisco reportedly wants to improve its fortunes in India with a planned $1.7bn investment into the country this year.
Willing to be a partner in the Indian government’s digital drive, Cisco rolled out the ‘Cisco Smart City’ plan for the future of smart and connected communities as part of its next phase of expansion.
Cisco India president Dinesh Malkani was cited by the Economic Times as saying: "Cisco is investing $1.7 billion this year into the India operations.
"The investment includes a $40-million innovation fund and investments into research & development."
Furthermore, the networking firm is hoping India’s contribution will amount to around 5% of its global revenue, partially to offset dropping Chinese revenue.
The latest investment plans were revealed during the announcement of Cisco’s first quarter earnings, which reported of 1.3% rise in revenues year-over-year to $12.24bn, surpassing analysts’ estimates of $12.16bn.
In addition, Cisco’s CFO Frank Calderoni will also step down from his position with effect from 01 January 2015, replaced by the current SVP of business technology.
