Tuesday, June 06, 2006

IBM to invest $6bn in India

IBM on Tuesday announced it would invest $6bn in India over the next three years, the most striking example of a multinational information technology company identifying the country as a market in its own right as well as a resource for talent.

Presenting the plan in Bangalore, Samuel Palmisano, IBM's chairman and chief executive officer, said: "We are [already] the largest IT company in India and we are so excited by the prospect of India that we are investing another $6bn in the next three years. This money will go into expanding the work force and creating a large technology centre, software development and R&D."

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