Technology giant Cisco said it will invest USD 100 million in India by 2020, to support the Government’s Digital India initiative.
Of this, USD 40 million will be used to fund early-stage and growth-stage companies in areas such as Internet of Things (IoT), security and smart cities. The company also plans to train 2.50 lakh students in the country.
Last year, the company had announced plans to invest USD 20 million to train about 1.2 lakh students in the country by 2020.
To collaborate with states Cisco said it would collaborate closely with State governments in India on strategic initiatives, including addition of six new innovation labs, three centres of expertise, funded university collaborations and skills investments.
“We are collaborating closely with State governments on strategic initiatives like setting up innovation labs. We want to play a key role in digitisation of the country,” said Cisco’s executive chairman John Chambers on Friday. The impact of digitisation was far-reaching — helping countries maintain global competitiveness, foster innovation and create jobs, he said.
Meets PM Mr. Chambers also met Prime Minister Narendra Modi on Friday to discuss the firm's role in various government initiatives, including Digital India, Skill India and Make in India. Possibilities of cooperation in the area of cyber security were also discussed.
This investment is part of the networking major’s global ‘Country Digitization Acceleration’ or CDA programme, where select countries receive strategic investments to accelerate existing government goals to drive economic growth through high-tech innovation.
Cisco is also looking to collaborate with the public sector and contribute to large-scale transformation projects such as smart cities as well as in education and healthcare, the company said.
Student pipeline “We want to create a pipeline of 2.5 lakh skilled students in India by 2020 and a marketplace for high-value, technology-based careers,” Mr Chambers said, adding that Cisco's focus would be on next generation technologies such as security, cloud and IoT besides digital plays in smart cities, financial services, healthcare and e-governance.
Cisco has already invested in about 25 companies in India.
Visa Issue On questions with respect to recent proposals such as increase in hiking of H1 B visa fee and raising the minimum wage for visa holders, which is likely to force companies to consider unemployed Americans for IT jobs, in preference to workers from overseas, including India, Mr. Chambers said, “It is an emotional issue because the average, middle-class American has not had a meaningful appreciation (in living standards or salary) in over 15 years and so when people talk about job loss or global trade agreements or H1B immigration issues, it’s an emotional time in an election year.”
Mr. Chambers backed India's decision to move WTO on the visa issue. "It’s a logical move by India to bring this to the WTO. And in terms of relationship between the countries... just like an election year in your country, you will have to be a little more patience with us. I m a huge believer in immigration and in bringing talent from around the world.”
