IBM GS goes to India
US computer services company IBM is to invest nearly $6bn in India over the next three years as it builds up its presence in the world's largest offshore technology services market.
"IBM is not going to miss this opportunity," chairman and chief executive officer of IBM, Samuel J. Palmisano, told 10000 staff in Bangalore today, according to the company's press release.
IBM's investment will be India's biggest inward technology investment, and will be aimed at strengthening both IBM's global and domestic software and business services operations in India, along with the creation of a new telecoms research unit, reports the Financial Times.
IBM has contracts with many European financial services and banking institutions including Deutsche Bank, Dresdner Kleinwort Wasserstein, Zurich Financial Services and BNP Paribas.
