Huawei aims India investments of over $2 bln in 5 yrs
NEW DELHI (Reuters) - Chinese telecoms gear maker Huawei aims to invest more than $2 billion in India over the next five years in areas including expansion of its research and manufacturing capabilities in the country, one of the world's biggest telecoms markets.
Huawei's announcement comes as the leaders of India and China meet this week to try to boost trade and soothe tensions between two nations.
Huawei will build a new research and development campus in India's southern city of Bangalore, adding to its existing facility in the country and increasing the number of engineers engaged in research to about 3,000 from 2,000 currently, the company's India unit said in a statement on Tuesday.
Huawei said it had recently started its first-phase local manufacturing in Chennai in south India and was further exploring other forms of co-operation in local manufacturing.
Huawei, which last year logged about $1.5 billion in contract sales in the Indian market, or about 5 percent of its total, currently employs more than 6,000 people in the country.
(Reporting by Devidutta Tripathy; Editing by Aradhana Aravindan)
- Tweet this
- Share this
- Digg this
- Analysis - Amazon's far-reaching ambitions, lack of profits, unnerve investors
- U.S. diplomats' return to Libya could be more hazardous than exit
- Australia approves Adani's $16 bln Carmichael coal project
- Israel extends Gaza ceasefire for 24 hours, Hamas rejects terms
- U.S. gasoline prices tumble on back of refinery cuts- Lundberg survey
The Australian government on Monday approved Indian firm Adani Mining Pty Ltd's $15.5 billion Carmichael coal and rail project in Queensland, subject to strict conditions to protect groundwater. Full Article