New Delhi: US technology giant IBM said it will invest $6 billion (Rs26,400 crore) in India by 2009.
“We have invested $2 billion (in the last three years). We will spend $6 billion by 2009,” Frank Kern, IBM president, Asia-Pacific, told Prime Minister Manmohan Singh during a roundtable organised by The Economist magazine.
Kern, who sought to know India’s strategy to build a skilled workforce, came in for a mild embarrassment when Singh said in a lighter vein that the company left India when he was finance secretary in the 1970s.
The Prime Minister said he was happy that the company was now back in the country. Singh said India had targeted earmarking 6% of the GDP for education in the next five years as against the current level of 3.9%.
The global technology major had last June announced plans to invest $6 billion in India.
IBM has about 43,000 employees in 14 cities across the world.