IBM, Cisco and other giants plan to do investments in India
Major investment opportunities for IT giants like IBM are opening up due to the plans for smart cities which were rolled out by the Indian Government. Bank accounts for all adult Indians is also another avenue which appears lucrative to the IT giants.
Vanitha Narayanan the managing director of IBM India and South Asia stated that her company has already provided a blueprint for a smart city to the government. She also mentioned that her team and she met Amitabh Kant the secretary of the Department of Industrial Policy and Promotion when he was the CEO of the Delhi-Mumbai Industrial Corridor project.
IBM is known for its innovation and this 100 year old company wants to leap into the bandwagon first and take advantage of the digital plans of the Narendra Modi-led government. In order to do that IBM joins the growing league of global IT firms that plan to step up their investments in India.
Cisco has already signed an agreement to transform Bangalore Electronic City into a smart city in partnership with the Electronics City Industries Association (ELCIA).
Similarly Smart City Dubai plans to tie up with the Madhya Pradesh government for a similar project to be located between Bhopal and Indore. Vanitha Narayanan of IBM also mentioned that with the new government in power, the investment environment of the economy has “changed”.
Source- The Indian Express
Cisco, Department of Industrial Policy and Promotion, Electronics City Industries Association, IBM, Investment, Vanitha Narayanan
