Cisco Systems has announced that it will begin producing networking equipment and internet connectivity devices in India.

According to CEO Chuck Robbins, the corporation wants to diversify its worldwide supply chain.

The California-based multinational, which had more than $51 billion in revenue in 2022, has set a $1 billion objective for local manufacturing and exports over the next three years.

Cisco, which sells a range of networking equipment and software to connect devices to the internet, did not reveal the investment size.

However, the company stated that the move would serve increased demand from Indian customers and strengthen the group's supply chain capabilities.

The statement came after Robbins met with Prime Minister Narendra Modi in New Delhi.

Modi's administration has been attempting to develop India as a global electronics powerhouse, recruiting suppliers and device assemblers to establish a presence in the nation.

"India is strategically important to Cisco, and we will continue to bet on India." "Today's announcement is a significant milestone that will power Cisco's next phase of growth," said country head Daisy Chittilapilly in a statement.