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Cisco announces another $100 million investment in India

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March 21, 2016

Earlier today, Cisco announced another $100 million investment In India over the next 1 1/2 year.

Cisco already employs about 10,000 people in the country and last month the network equipment giant talked about various plans to set up a new manufacturing base in Pune.

As part of the project, Cisco plans to train about 250,000 Indian students by 2020.

Needless to say, the news was well received in the country. There's also $40 million for early-stage startups, Cisco asserted.

The company's statement says the announcement was made in the presence of executive chairman John Chambers along with top executivess such as Irving Tang, president of the Asia Pacific and Japan region, and Dinesh Malkani, president of the India and SAARC regions.

The initiatives also include 6 planned innovation laboratories, 3 centres of expertise and various funded university collaborations.

Chambers said that India's economy is burgeoning because of the digital economy. The conference to announce the investment gave the local press the chance to quiz Chambers about the ongoing visa spat between India and the United States.

India has gone to the World Trade Organization to complain about America's newly-doubled fees on H-1B visas, which India's IT segment uses heavily to bring workers to America.

Chambers previously said that the technology sector in America has failed to explain to the public why H-1B visas are a good thing, leading to a perception that they're being abused to suppress local wages.

To the Indian audience, he was conciliatory, blaming the emotional environment of an election campaign in the U.S. for the December change to the visa rules, especially in the context of the American economy, in which the middle class has not seen economic appreciation for the last fifteen years, he added.

He asserted that taking the issue to the WTO was a logical move for India. It isn't the first time that such issues are brought up in the IT community, and other technology firms have reported similar incidents in the last two to three years.

Source: Cisco.

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