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Ericsson to invest `several hundred million' in India

Ericsson AB, the world's biggest maker of wireless networks, will spend "several hundred million dollars" in India a year, an investment that will include building a research center in the southern city of Chennai.

The company is investing about US$100 million in the country at present and future spending will be linked to the growth of the market, Mats Granryd, managing director of the Indian unit, told reporters in Mumbai yesterday.

A "global services delivery center" will also be built in India, the company said in a statement yesterday, without mentioning the location.

Ericsson and other equipment makers are banking demand in emerging markets such as India to grow.

India needs more than US$20 billion of investments to boost the number of mobile phone users to 200 million by end 2007, telecommunications minister Dayanidhi Maran said in February.

Cisco Systems Inc, Alcatel and Motorola Inc have already set up research centers in India.
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