Global IT major EMC to invest $1.5 billion in India from 2010-14
10 Sep 2009
Global information infrastructure solutions leader EMC Corporation will invest $1.5 billion in India over a five year period starting from 2010. According to company officials, the committed investment represents a three-fold increase over the company's investment in the country in the last five years.
The incremental investment that will power EMC India to the next phase of growth would be focused on three key areas - expansion of R&D infrastructure at the India Centre of Excellence (COE), enhancement of EMC global services capabilities at the India COE and driving deeper levels of engagement for local customers and partners with addition of more technologists.
"India offers tremendous opportunities in innovation and market potential", said EMC's Executive Vice-President and Chief Financial Officer, David Goulden. "In these economic times, leaders get stronger by their ability to make smart investments".
He added the company's committed investment of $1.5 billion served to underline the important position India enjoyed in the company's long-term strategy in the region and in global growth plans.
According to Goulden the India COE would prove instrumental in driving development of innovative, industry-leading products and services in the hottest technology areas in IT geared toward meeting its coustomers' most pressing needs.
Meanwhile, chief minister of Karnataka, B S Yeddyruappa along with Goulden presided over the inauguration ceremony of EMC's new facility that combines R&D and EMC's Global Services organisation from four separate locations into one campus to form a centralised COE.