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Cisco, the US based tech giant has said that it will be investing USD 100 million (around Rs 665 crore) to fund startups and train 2.5 lakh students in India by 2020.
In India, the company has over 10,000 employees and is looking at funding early stage and growth stage companies in the country across areas like Internet of Things, security and smart cities, allocating around USD 40 million of the fresh investments announced.
Cisco had last year, committed USD 20 million to train 1.2 lakh students on skills and an additional USD 40 million for expansion in India, including setting up manufacturing in India.
John Chambers, Cisco Executive Chairman has said that “We are collaborating closely with state governments on strategic initiatives like setting up innovation labs. We want to play a key role in digitisation of the country. The impact of digitisation is far-reaching, helping countries maintain global competitiveness, foster innovation and create jobs.”
