The Economic Times has reported that the investment includes a $40 million innovation fund as the network equipment manufacturer aims for India to contribute to 5% of its global revenue.
Under Prime Minister Narendra Modi, India is pursuing a digital strategy, and is looking to spend more than $5 billion on expanding broadband networks across the country in the next three years. It has also released a policy document outlining plans to create a $15 billion market for Internet of Things (IoT) products by 2020.
Cisco is reportedly eyeing opportunities in the rise of “smart cities” across the nation.
