The Hindu Business Line : EMC to invest $150 m more

Mr William J. Teuber Jr, Executive Vice-President and CFO, EMC Corp, and the Minister for IT & Communications, Mr Dayanidhi Maran, addressing mediapersons after a meeting in the Capital on Friday. - - Ramesh Sharma

New Delhi , Feb. 25

Information storage and management company EMC Corporation today announced an additional investment of $150 million in India, taking its total commitment to $250 million by 2007.

"The increased investment will fortify EMC's market leadership position in India and contribute to its technology leadership in the information storage and management space worldwide. We are pleased with the infrastructure and resources that exist in the country, and the investment will flow into research and development, customer support and sales and marketing activities," Mr William J. Teuber Jr, EMC's Executive Vice-President and Chief Financial Officer, told reporters after a meeting with the Union IT and Communications Minister, Mr Dayanidhi Maran, here.

EMC currently has 400 people in India and plans to scale up its headcount to 1,000 by the end of this year.

"With 60 per cent of IT spending coming from outside the US and only 42 per cent of EMC's total revenues for 2004 coming from the international markets, we are focused on increasing our international business to represent half of our revenues over the next few years. This growth requires investments in countries that will support our strategy to better compete on the world stage," he added.

Mr Teuber said that he was encouraged by India's IT vision and direction.

Earlier this week, EMC India had inaugurated its software development and support centre in Bangalore.

The 165,000-sq.ft. facility would house EMC software engineers who will work on all phases of the software development lifecycle for a range of EMC products.

Commenting on the investment announced by EMC Corporation, Mr Maran said, "In the last six months, my Ministry has followed a proactive policy of encouraging Foreign Direct Investment in the technology sector, as a result of which a large number of MNCs are seriously looking at investing in India."

EMC has over 100 large and mid-tier customers in India across verticals such as telecom, manufacturing, technology and financial space. These include AirTel, Tata Teleservices, Asian Paints, Microsoft and Cisco Systems.

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