Technology major Cisco expects India to account for five per cent of overall revenues within the next five years even as it hopes that the next Government will increase ‘predictability’ of doing business in the country.

 The $49-billion networking giant wants India revenues to increase from a ‘very small’ percentage of ‘less than two per cent’ presently, said John Chambers, Chairman and Chief Executive Officer.

Bets on India  “I love India and we are deeply committed to continue investing in your country. We have shared this vision for India with our staff and with various government leaders (in India) as we want it to be a win-win for all,” he said on the sidelines of the Cisco Partner Summit 2014.

 Chuck Robbins, Senior Vice-President of Worldwide Field Operations, said that sales from India could potentially grow at over 20 per cent in the next five years.

Though the company did not specify the quantum of its proposed investments in terms of fresh capital and resources, Chambers said that a downturn is the best time to invest in any economy. “We always spot a slowdown two quarters ahead of our peers and we make sure that we are ready,” he said.

It may be recalled that a nine-year-long drought of economic reforms, government corruption scandals and multiple policy-level missteps have derailed the Indian economy.

Chambers said that he is ‘excited’ about the forthcoming general elections in India. He expects the next government to bring back predictability and stability in the country’s investment and taxation climate. Foreign investors have been concerned by the political uncertainty, risk of policy roll-backs, protests against reforms and aggressive taxation drives in the country.

 “Getting stability back in India is crucial. We are committed either ways, but an element of predictability will help the country get more foreign direct investments,” said Chambers.

Pankaj & Padma  The 64-year old Chambers has been CEO at Cisco since 1995, making his tenure one of the longest in the technology industry. In 2012, Chambers indicated that he may retire within the next 2-4 years. Last year, he indicated that that two Indians — Padmasree Warrior, Chief Technology and Strategy Officer, and Pankaj Patel, Executive Vice-President and Chief Development Officer — among others were possible candidates for the post.

 “Pankaj and Padma are world-class individuals… they are two of the top 7 people in the company. For the next CEO, gender is not a bar and there is no issue about which part of the world the person migrated from as all of us here are migrants to the US,” said Chambers. The company is expected to make an announcement six months before the transition happens.

(This correspondent is in Las Vegas at the invitation of Cisco for the ‘Cisco Partner Summit 2014’)

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