Cisco Systems (CSCO) CEO John Chambers is headed to India and in an email interview with Livemint.com he outlined the progress made by Cisco in India:
* Cisco sales in India are over $1 billion. Chambers is bullish about prospects of wireless in India. (It might also explain why the company snapped up WiMAX vendor Navini Networks for $330 million.)
There is a potential to leapfrog technology in the developing world that is very different from the developed world; it is an exciting market for us.
* Cisco has earmarked $1.1 billion in investment in India. $750 million is going to “R&D activities, training, and development and expanding relationships with strategic partners in India.”
* Of the $150 million earmarked for VC investments, $100 million has been already invested. Investments include Indiagames.com and Nimbus.
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