Betting big on India's fast growing IT security demand, global IT giant IBM is planning to increase its investments in India out of its $1.5 billion global security budget this year.
IBM has chosen India as one of the three global destinations to deploy its security researchers. "We are gearing up to cater to the global market opportunity for security spend, which is around $100 billion. We are planning to increase investments in our two software laboratories in Pune and Bangalore in 2008," IBM's Worldwide Evangelist for Security Pierre Noel told PTI.
This investment, which would come as part of IBM's $1.5 billion security initiative, will fund the IT major's ongoing projects to develop new security products in India, Noel said.
In 2006, IBM had said that it would treble its investment to USD 6 billion by 2009 with a view to enhance its presence in the fast-growing domestic market.
With India among the leading economies in emerging markets, the country has become a favourable investment destination for global IT majors like Microsoft and Google.
Google made its debut as an investor in domestic venture capital funds in January last year by investing $3.75 million in a domestic seed-fund, which had a total size of $13 million.
While Google and Microsoft have hinted more India-centric investments, IBM is understood to have focused more on the country's security services market.