More technology companies to invest in India

More technology companies to invest in India

By agencies   |   Friday, 16 September 2005, 07:00 Hrs
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TOKYO:Technology companies like Cisco, Flextronics and Kyocera are keen at tapping the growing Indian technology and telecom market and will invest more to localize productions.

Speaking at a seminar in Tokyo, company officials said India’s growing demand for high-end technology products like wireless and internet equipment and low cost labor is attracting companies to either increase their investment or enter India as it offers similar benefits as China.

Hoping to cash in on the lower cost structure in India, the world’s largest contract electronics maker, Flextronics said it would invest about $30-50 million for setting up a second plant in India to manufacture telecom gears for world markets. Besides it also said investments could increase up to $300-$500 million in the next 10-15 years.

Japan based Kyocera also announced it intention to tap India’s growing Internet market by shipping PHS and iBurst equipment for high speed internet access.

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