Global IT company Cisco on Friday announced a $100 million investment plan for India to support the next phase of digitisation in the country.
The planned series of strategic investments include $40 million to fund early-stage and growth-stage companies in the country and train 250,000 students by 2020, the company said.
The investment forms part of Cisco's global 'Country Digitisation Acceleration' or CDA programme, under which the company will collaborate closely with state governments on strategic initiatives including the addition of six new innovation labs, three centres of expertise, funded university collaborations and skills investments.
"Digitisation goes beyond connectivity. With our increased investments in education and innovation, we are harnessing the power of technology to launch a generation of problem solvers who will innovate like technologists, think like entrepreneurs and act as social change agents," said Cisco's executive chairman John Chambers.
According to Dinesh Malkani, president, Cisco India and Saarc, Cisco's announcement underscores India's strategic importance to the company's global operations. "We are thrilled that India has been chosen for Cisco's global country digitisation acceleration programme. India's digital transformation will grow the economy faster, will provide employment and inclusion, will enable innovation opportunities and help deliver affordable citizen services to become more competitive on the global stage," Malkani said.