In an effort to diversify and strengthen the global supply chain, American multinational technology firm, Cisco, announced that it will begin manufacturing in India, marking a significant development in its expansion plans. The announcement will also aid in advancing India's goal of becoming a major hub for manufacturing.
Following a meeting with Prime Minister Narendra Modi, Cisco CEO Chuck Robbins, expressed optimism about the potential of the Indian market and announced a combined export and local production goal of over US$ 1 billion.
According to an official statement, Cisco will start producing its first goods in India in twelve months, and will gradually introduce a wider range of Made-in-India products in the coming years. "Today, we are announcing strategic investments in Indian manufacturing capabilities as the next step in delivering cutting-edge technologies to our customers in India and across the globe," said Robbins.
“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. This investment will enable us to bring state-of-the-art technologies to more people and businesses and help accelerate India’s transition into a leading digital economy,” added Daisy Chittilapilly, president, Cisco India & SAARC.
Cisco's second-largest R&D facility outside of the US is in India, a crucial market for the company. Since establishing operations in India in 1995, Cisco has focused on assisting the nation's rapid and widespread digitization. This includes hastening the transformation of vital industries like transportation and agriculture through programs like the Country Digitization Acceleration and the Cisco Networking Academy.
During his India visit, Robbins also held talks with S. Jaishankar, External Affairs Minister, Rajeev Chandrasekhar, Union Minister of State for Entrepreneurship, Skill Development, Electronics & Technology, B.V.R. Subrahmanyam, CEO of NITI Aayog, and K. Rajaraman, Telecom Secretary.