IBM to triple investment in India to $6 billion, GE India is targeting $8 billion in revenues
IBM Chairman and Chief Executive Sam Palmisano announced that IBM would triple its investment in India to $6 billion over the next three years (AP). In the past three years, the company has invested more than $2 billion in India and increased staff here from 9,000 to 43,000. That makes India IBM's second-largest base of operations, trailing only the U.S., which has 125,000 of IBM's 330,000 people.

IBM's $510 million in revenue in India last year, excluding the now-divested PC business, was a small part of the company's $88 billion total.

Chairman of IBM Sam Palmisano speaks at an IBM employee event in Bangalore, India, Tuesday, June 6, 2006. Palmisano announced that IBM expects to triple its investment in India to US$6 billion (euro4.6 billion) over the next three years as the South Asian country becomes a cornerstone in the global network of the world's largest computer services company. (AP Photo/Gautam Singh)

  • Earlier in May, GE Chairman and CEO Jeff Immelt announced a US$250 million investment in infrastructure and healthcare projects in India and said that GE intends to dramatically expand its industrial and financial presence in the country. GE India is targeting $8 billion in revenues.

  • Microsoft said last December to invest  $1.7 billion in four years.

  • Intel announced a $1 billion India investment plan. 

  • SemIndia, a group of expatriate Indians, announced a $3 billion chip-making facility (Fab City project in  Hyderabad being inaugurated in AP this week) with technology from AMD.

  • Cisco  also announced plans to invest $1.1 billion in India over the next three years.

Last year only 4.4 million PCs were sold in India, according to market research firm IDC. By contrast, China bought 19 million. But between now and 2010, analysts expect to see India's sales double.

June 6, 2006 11:01 AM |

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