Another 1.1 Billion For India
Thursday, August 3, 2006
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After IBM, Microsoft, Cisco, Intel and AMD, SAP joins their ranks as the sixth major company to commit over 1 Billion in investment capital to India.
SAP will increase the India headcount from 2,750 to 4,000 by this year and to 8,000 by 2011. They just opened a second R&D center in Gurgaon, the first being in Bangalore. So far, SAP has invested $500 Million in India.
With close to $15 Billion being funneled into India by large technology giants, not to mention the expansion of India’s own Wipro, Infosys, Tata, et. al., in the next 5 years, I expect all the major metros in India can become thriving technology centers.
Further reading: Team-of-Twenty-One.
[...] billions of dollars get funneled into India as the giants of technology (and of other industries, such as Citibank) shave their fat in the US, and move thousands of people [...]