With over $1 billion (roughly Rs. 6,676 crores) in revenue already, India is poised to become one of the top four markets for technology giant Cisco in the next few years on the back of strong growth in government and enterprise business.
The $49-billion (roughly Rs. 3,27,222 crores) firm, which has some 11,000 employees in India, counts the South Asian nation as its second headquarter after the US.
“If you look at our business performance over the last couple of years, our business is over a $1 billion in India. Last year, it grew over 20 percent,” Cisco CEO Chuck Robbins told PTI. He added that the company will continue to invest and launch new projects in India. “India is already among our top five markets, absolutely. There are different ways to look at it,” he said. Cisco’s leading markets include the US, Japan and China.
Cisco President India and Saarc Dinesh Malkani added: “In the next few years, we should be top 3 or 4 (in terms of revenue).” Asked if this could be achieved before 2020, Malkani replied in the affirmative.
In March, Cisco had committed $100 million (roughly Rs. 667 crores) to be spent over 18-24 months, including $40 million (roughly Rs. 267 crores) to fund early-stage and growth-stage companies in the country, and train around 2.5 lakh students by 2020.
The US-based company has recently announced that it will commence manufacturing operations in Pune early next year, making India the 12th country after the likes of the US, Mexico, China, Brazil and Malaysia to house a production unit.
Cisco, which reported global revenue of $12.6 billion (roughly Rs. 84,139 crores) for the quarter ended July 30, 2016, saw its top line in India rising significantly by 20 percent, even as the overall revenue fell 2 percent.
Its India operations have seen nine straight quarters of growth starting from the fourth quarter of 2013-14 (18 percent) to the just-concluded one.
Talking about its team here, Robbins said India is an “incredible source” of highly-talented engineers.
“They are completely energised around the challenge of new innovation. For me, this is not only a talent pool, but a living laboratory. This is a place where we will continue to see investment and new projects being launched and new businesses being developed. I see nothing but opportunities,” he said.