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BANGALORE: EMC Corporation, with 2005 revenues of $9.66 billion, today announced its third phase of investment in the Indian market.
It has committed to double its existing investments in India by 2010 from US$250 million announced in February 2005, to over US$500 million. EMC also announced it will set up a Centre of Excellence in e-Governance (CoEE) to assist the Central and State Governments with their e-Governance information management and storage needs.
Joe Tucci, chairman, president and CEO, EMC, made the announcement in New Delhi.
Addressing a press conference, Tucci said, "India has rapidly become one of the most strategic markets for EMC's expanding global business. Our new plan to double our investment in India is the direct result of the great success we've had helping hundreds of organizations with their information management needs and the tremendous opportunity we see in front of us. India is a remarkable country in so many ways, from its vast population of scientists and engineers and the priority given to education, to the rapid growth of its economy, and the government's intensive focus on IT and e-governance. We see a great future for EMC in India, and we look forward to providing the technology and solutions that can help India progress towards its goal of becoming one of the world's leading information-based societies."
EMC’s additional investment in India will be used to grow the Indian market for information management, expand the sales and marketing infrastructure and strengthen R&D presence in India. EMC has committed that by 2008 customers in the 60 largest cities in India will be able to purchase EMC products and solutions through its partner network.
The CoEE will leverage EMC’s expertise in information management and storage to help government agencies build an intelligent information infrastructure as they deal with vast amounts of structured and unstructured information. The CoEE will work in close partnership with the Ministry of Communications and Information Technology.
Commenting on EMC’s third phase of investment in India, Dayanidhi Maran, minister for Communications & Information Technology, Government of India said, “We welcome this additional investment commitment by EMC as we continue to work to attract more investment by leading technology leaders. The UPA government will continue to partner with leading organizations like EMC to build an intelligent information infrastructure for all of our citizens to transform India into a knowledge economy.”
Elaborating on EMC’s success and future roadmap in India, Manoj Chugh, country manager, EMC India & SAARC Region, said “EMC has been increasing its investment and commitment to India every year for the last three years, and we are very pleased by the results. Today, EMC is the leading provider of information management and storage in India with over 350 customers, and Bangalore is home to EMC’s largest software development effort outside North America. Today’s announcement will further boost our commitment and help us better meet the information infrastructure needs of India.” he added.
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