Global Companies Invest $8.6 Billion In India's IT Sector
In 2005-2006, global corporations have pledged investments totaling $8.6 billion in IT and telecoms according to the Ministry of Communications and IT.
Included in this figure is a proposed $3 billion for a silicon chip manufacturing facility near Hyderabad. Chipmaker AMD will provide technology and equity funding, as reported on siliconinida.com.
Earlier in the year, Microsoft pledged $1.7 billion investment in research and development, education, productivity and governance. Intel will invest $1.1 billion in research and development, marketing, education and setting up a venture fund. And Cisco will invest $1.1 billion.
Other companies include EMC, which will invest $325 million, and Ericsson, which has pledged $250 million for telecom manufacturing and research and development in India. Nokia invested $200 million in manufacturing handsets in Chennai. Samsung has invested $200 million on a manufacturing facility in Gurgaon.
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