Cisco Systems plans to diversify its global supply chain by starting manufacturing operations in India.
This is with a target of $1 billion in domestic production and exports over the next few years, according to CEO Chuck Robbins.
The networking equipment and software firm will invest in support of growing demand from customers in India and expanding its supply chain capabilities.
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The announcement followed a meeting between Robbins and Prime Minister Narendra Modi in New Delhi, where the Indian government is working to establish the country as a global electronics hub, attracting suppliers and device assemblers to set up a base in the country.
Country head Daisy Chittilapilly said in a statement. “India is of strategic importance for Cisco, and we continue to bet on India. Today’s announcement marks a significant milestone to power the next phase of growth for Cisco,”
The investment size was not disclosed.
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