Software giant SAP to invest USD 1bn in India

2nd August 2006, Comments 0 comments

2 August 2006, NEW DELHI - The world's leading business software provider, SAP AG, said Wednesday it would invest 1 billion dollars in India over the next five years to enhance its operations in the country. "India continues to grow in its importance to SAP globally. As one of our top eight strategic markets globally and now a strategic hub in the region, we are seeing phenomenal growth in demand for our solutions from Indian enterprises," SAP CEO Henning Kagermann told reporters in New Delhi. Kagermann ad

2 August 2006

NEW DELHI - The world's leading business software provider, SAP AG, said Wednesday it would invest 1 billion dollars in India over the next five years to enhance its operations in the country.

"India continues to grow in its importance to SAP globally. As one of our top eight strategic markets globally and now a strategic hub in the region, we are seeing phenomenal growth in demand for our solutions from Indian enterprises," SAP CEO Henning Kagermann told reporters in New Delhi.

Kagermann added that SAP had elevated India to a strategic global hub.

The company, which has been in India for over a decade, has already invested 500 million dollars in the country. It has 1,050 clients and has signed 200 new customer partnerships in 2006 so far.

The German firm also planned to increase its number of employees from 2,750 currently to 4,000 by the end of this year and hoped to double the number over the next five years, the PTI news agency reported.

SAP Labs in India was expected to be contributing to about 20 per cent of SAP's global research and product development by the end of this year, the firm said.

"India is a vital component of SAP's research and development and global services and support network," Kagermann said.

Headquartered in southern Bangalore city, considered India's IT capital, SAP India also opened its office in Gurgaon, located in the suburbs of Delhi on Wednesday.

Founded in 1972, SAP has over 34,000 customers worldwide and employs an equal number in more than 50 countries. It has its main operations in Bulgaria, Canada, China, Germany, Hungary, India, Israel and the US.

Several software giants including IBM and Oracle have been expanding their operations in India, which has a large pool of skilled workers at relatively low wages.

While Microsoft, Intel and Cisco have announced a combined investment of 3.9 billion dollars in India since last year, IBM recently announced an investment plan of 6 billion dollars in its Indian operations over the next three years.

India's National Association of Software Service Companies has projected a more than 25-per-cent growth in the current financial year for the software-services sector.

DPA

Subject: German news

0 Comments To This Article