EMC to invest additional $150 million in India

EMC to invest additional $150 million in India

Boston Business Journal

Data-storage giant EMC Corp. plans to invest an additional $150 million in India by 2007 to expand sales, research and development and work force.

The investment is in addition to the $100 million EMC announced in 2003. The entire $250 million will be spent by 2007, according to Bill Teuber, EMC's chief financial officer.

Hopkinton-based EMC, which opened a software center in Bangalore in 2003, is expanding in the country where as many as 184,347 engineers will graduate this year.

EMC plans to increase the work force in the country to 1,000 by the end of this year from 400, as it seeks to expand its research facility and generate more sales. The additional 600 people will be hired for its research, customer support and sales force in the country.

Teuber said EMC expects global sales to be double the estimated 8 percent growth in the storage information management market. That compares with the 32 percent growth it recorded in 2004.