Compaq to double investments in India.
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Thursday November 6 9:58 AM EST
Compaq Says Could Double India Investment in 5 yrs
By Sanjit Singh
NEW DELHI (Reuters) - U.S.-based Compaq Computer said today it could double its investment in India by 2002.
"It is reasonable to say that we could double our investment in India in five years, if we achieve over 30 percent growth," said Paul Chan, Compaq's vice-president and managing director for the Asia Pacific.
Chan was speaking to Reuters on the sidelines of a news conference to announce the establishment of Compaq's fully- owned subsidiary in India, Compaq Computer (India) Pvt Ltd.
Compaq started operations in India in March 1994 thorough a branch office, he said.
"Until now we have cumulatively invested close to $20 million in people, infrastructure, buildings and networks," he said.
Chan agreed with the International Data Corp's forecast that India's information technology (IT) sector would grow by 28 percent a year over the next five years, second only to China in the region. |
