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Business Today, July, 2006 by Anand Adhikari; Krishna Gopalan; Rahul Sachitanand; Venkatesha Babu
Going For Broke
IBM would have pumped $8 billion into India by 2009. Why?
Venkatesha Babu
The smoke signals from Armonk, NY, where IBM is headquartered, were sending their messages loud and clear even before its Chairman and CEO Sam Palmisano's plane touched down in Bangalore. On his fourth visit to India in as many years, IBM's reticent chief was to address the media for the very first time (all his earlier trips were unannounced). The scale of ramp up in the last three years was a further indication of IBM's intentions in India. A big bang announcement against this backdrop was not unexpected. But when Palmisano announced that Big Blue would invest a humongous $6 billion (Rs 26,700 crore) over the next three years, the excitement was palpable. After all, the...
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