EMC to invest $1.5 bn in India

Information management and storage major EMC Corporation on Wednesday announced an investment of about $1.5 billion for India over the next five years — 2010-2014 — to fund its growth in the region and to strengthen its research and development services.

Information management and storage major EMC Corporation on Wednesday announced an investment of about $1.5 billion (about Rs 7,273 crore) for India over the next five years — 2010-2014 — to fund its growth in the region and to strengthen its research and development (R&D) services.

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This is a threefold increase when compared with previous investments made by EMC in India in the last five years.

“India offers tremendous opportunities in innovation and market potential,” said David Goulden, executive vice-president and chief financial officer, EMC. “EMC’s commitment of $1.5 billion over the next five years illustrates the important role India will play in the company’s long-term strategic Asia Pacific and Japan and global growth plans.”

The company opened a new R&D facility, which is its largest outside the United States.

Goulden said the investment is focused on three key areas that will take EMC India to its next phase of growth — expanding R&D infrastructure, increasing EMC global services capabilities and adding technologists.