U.S. Tech giant Cisco Systems will begin manufacturing from India in a diversification move of its global supply chain, said the CEO Chuck Robbins on Wednesday. The company has set a target of $1 billion in domestic production and exports over the coming few years.
Cisco did not reveal its investment’s size, however, it said it will support the growing demand from customers in India and it will also expand supply chain capabilities.
The announcement came after a meeting between Robbins and the Indian Prime Minister Narendra Modi in New Delhi.
Modi’s government is aiming to promote India’s role as a global electronic hub. It also aims to court suppliers and device assemblers to set up base in the country.
“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,” country head Daisy Chittilapilly said in a statement.
