Cisco Systems said on Wednesday it will start manufacturing its networking equipment and internet connection devices in India.
Chief executive Chuck Robbins said the company wanted to diversify its global supply chain.
The California-based multinational, which had revenue of more than $51 billion in 2022, has set a target of $1 billion in domestic production and exports over next few years.
Cisco, which sells a range of networking equipment and software to connect devices to the internet, did not reveal the investment size.
But the company said the move would support growing demand from customers in India and bolster the group’s supply chain capabilities.
The announcement followed a meeting between Robbins and Prime Minister Narendra Modi in New Delhi.
Modi’s government has been working towards establishing India as a global electronics hub, courting suppliers and device assemblers to set up base in the country.
“India is of strategic importance for Cisco, and we continue to bet on India. Today’s announcement marks a significant milestone to power the next phase of growth for Cisco,” country head Daisy Chittilapilly said in a statement.
- Reuters with additional editing by Jim Pollard