Monday, 17 November 2014

Cisco investing $1.7 bn in India in 2014, India Q1 FY 2015 revenue up 6%

Enterprise networking vendor Cisco is investing $1.7 billion in India this year.
Last week, Cisco said its India revenue increased 6 percent during the first quarter of fiscal 2015 after posting declines in the previous quarters.
India is an important market for Cisco since China revenue in its latest quarter declined 33 percent. Despite marginal revenue growth, Cisco continues to bet on its strategy on delivering solutions for IT and the Internet of Everything (IoE).
Cisco last week said its global revenue increased 1.3 percent to $12.2 billion, while net income decreased 8.4 percent to $1.8 billion in Q1 fiscal 2015.
Cisco India President Dinesh Malkani said the $1.7 billion investment in Indian operations include $40 million in innovation fund and investments into research and development.
The networking company will be looking at large government projects, smart city, digital India initiatives in the country.

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