Big Bucks

BANGALORE, India, June 6, 2006 (AFP) – US technology giant IBM said Tuesday it will triple its investments in India to six billion dollars over the next three years, recognising India’s dominance in the global outsourcing industry.

“In the next three years, we will triple our investments in India from two billion dollars over the last three years to nearly six billion dollars,” said Samuel Palmisano, chairman and chief executive officer of IBM.

“That investment will ensure that we make the most of the opportunities to grow this market place while it also enables IBM to fulfil its vision to become a globally integrated company,” Palmisano told IBM employees in high-tech Bangalore city.

“India and other emerging economies are an increasingly important part of IBM’s global success,” he said. “I am here today to say that IBM is not going to miss this opportunity.”

The investment will be mainly in the areas of research, software, hardware and computer services.

Palmisano is in Bangalore to attend an annual analysts’ meeting on the company, the first time it is being held outside the United States.

“If you are not in India, making the right investments and finding and developing the best employees and bus