IBM Chairman and CEO Announces Plans to Triple Investment in India over Next Three Years

IBM Chairman and CEO Announces Plans to Triple Investment in India over Next Three Years

The chairman and chief executive officer of IBM, Samuel J. Palmisano, speaking to the largest-ever gathering of IBM employees in India, today announced IBM expects to nearly triple its investment in India over the next three years. Mr. Palmisano spoke before 10,000 employees gathered in Bangalore and via satellite to thousands of other employees in Delhi, Mumbai, Kolkata and Pune. With more than 43,000 employees in 14 cities, India is IBM’s largest country organization outside the U.S.

Present at the Bangalore meeting was Dr. A.P.J. Abdul Kalam, the president of India.
“India and other emerging economies are an increasingly important part of IBM’s global success,” Mr. Palmisano said. “If you are not here in India, making the right investments and finding and developing the best employees and business partners, then you won’t be able to combine the skills and expertise here with skills and expertise from around the world, in ways that can help our clients be successful.

I’m here today to say that IBM is not going to miss this opportunity. In the next three years, we will triple our investment in India — from $2 billion over the last three years to nearly $6 billion in the next three years. That investment will ensure that we make the most of the opportunities to grow this marketplace, while it also enables IBM to fulfill its vision to become a globally integrated company.” Also in attendance during Mr. Palmisano’s meeting with IBM India employees were Wall Street analysts, who were attending IBM’s first-ever financial analyst meeting in India, Karnataka Governor T.N. Chaturvedi and Karnataka Chief Minister H.D. Kumaraswamy.

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