SAP to invest $1 billion in India over next five yrs

The company also plans to increase headcount to 3,500 by end of 2006 from 2,750 employees as of July 2006.

SAP, a business software solutions provider, will invest $1 billion (nearly Rs 4,500 crore) in India in the next five years and plans to increase headcount to 3,500 this year, its CEO Henning Kedarmann said on Wednesday.

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"SAP in will invest $1 billion in the next five years in India," he told reporters in New Delhi.

The company would also increase the headcount to 3,500 employees by the end of 2006 from 2,750 employees as of July 2006.

The company has already invested 20 million Euro to build phase-I and II of SAP Labs India campus.

SAP on Wednesday announced the setting up of its office at Gurgaon. Besides, it has a facility in Bangalore.