CEO Chuck Robbins said that Cisco Systems (CSCO.O) would start manufacturing in India to diversify its global supply chain and reach $1 billion in domestic production and exports.
Cisco, which provides networking equipment and software to link devices to the internet, did not disclose the investment number but said it would meet rising demand from Indian clients and increase supply chain capabilities.
Robbins and Modi met in New Delhi before the announcement. Modi’s administration has been trying to attract electronics suppliers and assemblers to India.
Cisco is committed to India. “Today’s announcement marks a significant milestone to power Cisco’s next phase of growth,” country leader Daisy Chittilapilly said.