American multinational technology company Cisco Systems Inc will invest over $100 million over the next 18 to 24 months to support the country’s ambitious plan to connect thousands of its villages to the internet and create jobs. The series of investments will include $40 million that will be used to fund early-stage and growth-stage companies in the country, and train around 250,000 students by 2020.
India’s Prime Minister Narendra Modi has launched a series of initiatives under the ‘Digital India,’ ‘Skill India,’ and ‘Startup India’ schemes to connect millions of Indians to the Internet, create more tech jobs and move more services online.
According to Dinesh Malkani, president at Cisco India and SAARC company has expertise in areas such as security, cloud, and the Internet of Things which it can lend to emerging companies. “There is a lot of scope for development in IP driven technology software companies in India,” he said.
The $143-billion firm has over 10,000 people in India. It is also setting up a manufacturing base in Pune to locally make products to “support the Digital India vision” and aims to eventually make it an .
Digital India is a campaign launched by the by the Government of India to ensure that Government services are made available to citizens electronically by improving online infrastructure and by increasing Internet connectivity or by making the country digitally empowered in the field of technology. It was launched on 1 July 2015 by Prime Minister Narendra Damodardas Modi. The initiative includes plans to connect rural areas with high-speed internet networks. Digital India has three core components.
In February 2016, Oracle global chief Safra Catz announced a $400 million expansion of their India facility, a host of incubation centres for startups and an extensive training programme to groom young talent in the country.
So lets do:
- Which American multinational company recently announced to invest over $100 million?
- Where CISCO Systems Inc. headquarter is located?
Source – The Economic Times