Oracle India to expand, invest $14 m.

BANGALORE: After a meeting between a Government of India delegation headed by minister for information technology Pramod Mahajan and top level executives of Oracle Corporation at its headquarters in the US, Oracle has announced major expansion plans for its Indian subsidiary.

Under the expansion program, Oracle India will set up a software development center in Bangalore, India, at an outlay of US $14.5 million. Oracle already has two software development centers in India–one in Bangalore and another in Hyderabad. This new facility is expected to help consolidate the operations its existing development center in Bangalore. Phase I of the expansion is scheduled for completion by the first half of 2000.

Speaking on the company’s plans, Oracle Corporation chief financial officer Jeff Henley said, "India is the only country outside the US where we are continuously expanding developer headcount. This additional investment in the country will provide an impetus to industry growth in Bangalore and in India, apart from generating substantial employment opportunities and exports in the form of software products and services."