Chief Executive Officer Chuck Robbins announced on Wednesday that Cisco Systems will start producing in India as part of an effort to diversify its global supply chain, with a goal of $1 billion in domestic production and exports over the following several years.
Although Cisco, a company that sells a variety of networking hardware and software used to link devices to the internet, did not disclose the amount of the investment, it did say that it will meet the rising demand from Indian clients and enhance supply chain capabilities.
Robbins and Prime Minister Narendra Modi met in New Delhi before the announcement. The Modi’s administration has been enticing suppliers and device assemblers to locate their operations in India in an effort to turn the nation into a major global electronics powerhouse.
“India is of strategic importance for Cisco, and we continue to bet on India. Today’s announcement marks a significant milestone to power the next phase of growth for Cisco,” country head Daisy Chittilapilly said in a statement.
