IBM to invest US$ 6bn in India by 2009
Mar 14th, 2007 by shan
US technology giant IBM has said it will invest six billion dollars in India by 2009, the company has about 43,000 employees in 14 cities across the world and India is one of its important centres outside the US.
“We have invested two billion dollars (in the last three years). We will spend six billion dollars by 2009,” Frank Kern, the IBM president of Asia Pacific, told Prime Minister Manmohan Singh during a round-table organised by the Economist magazine at New Delhi.
Kern, who sought to know India’s strategy to build a skilled workforce, came in for a mild embarrassment when Singh said in a lighter vein that the company left India when he was Finance Secretary in the 1970s.
The Prime Minister said he was happy that the company was now back in the country.
Singh, said India had targeted earmarking six per cent of the GDP for education in the next five years as against the current level of 3.9 percent.
The global technology major had in June last year announced plans to invest six billion dollars in India.