Cisco bets big on India

Om Malik writes how cisco is betting heavily on India:

So my statement that the 'axis of technology has shifted to somewhere in the South China Sea' is finally coming true. Couple of days ago, Cisco Systems announced that it was setting up a $32 million R&D labs in China. Today there is news that Cisco Systems is setting up a venture capital arm in India.

Cisco is bullish on the Indian market, which it says is amongst the top three strategic markets worldwide and its fastest growing. New product launches and the recent establishment of separate vertical business groups there have buoyed hopes for Cisco in the country, whose own manufacturing and services industry has been maturing in recent years because of de-regulation and privatization. [Venture Wire News]

'India has been referred to for years as 'the land of eternal promise' because its markets always seemed on the verge of really taking off,' Daniel Scheinman, senior vice president of corporate development for Cisco told News@Cisco. ......

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