Tuesday, June 6 2006 15:13 Hrs (IST) - World Time -

Bangalore: IBM will triple its investment in India to nearly US$ six billion in the next three years, its Chairman and CEO Samuel J Palmisano announced today (June 6, 2006) as he expressed bullishness on the company's growth prospects in the country and praised the staff's contribution.

"In the next three years, we will triple our investment in India from US$ two billion over the last three years to US$ six billion," Palmisano told the largest ever gathering of IBM employees in India here.

"That investment will ensure that we make the most of the opportunities to grow this market, while it also enables IBM to fulfill its vision to become a global integrated company", he said in front of 10,000 employees gathered here and via satellite to thousands of other employees in Delhi, Mumbai, Kolkata and Pune.

Present at the meeting on the sprawling Palace Grounds were President A P J Abdul Kalam and Chairman and Group Managing Director of Bharti Enterprises, Sunil Bharti Mittal.

As part of its increased investment in India, IBM is establishing the first in a new breed of service delivery centres, and creating the IBM systems and technology group (STG) innovation, development and executive briefing center here and locating a telecommunications research and innovation centre at India Research Lab, among others.

Palmisano, on a two-day visit to the country his fourth trip since May 2003 said India and other emergingeconomies are an increasingly important part of IBM's global success.

"If you are not here in India, making the right investments and finding and developing the best employees and business partners, you won't be able to combine the skills and expertise here with skills and expertise from around the world, in ways that can help our clients be successful," he said.

He added, "I'm here today to say that IBM is not going to miss this opportunity".

IBM officials said with 43,000 employees in 14 cities, India was IBM's largest country organisation outside the US.

Pointing out that IBM 'is wonderfully excited' about the company's growth prosects in India, as also continued contribution of its employees in the country to enhance its global skill base, Palmisano said the firm grew by 50 percent last year and first part of this year in India.

Also in present at the event were Karnataka Governor T N Chaturvedi, Chief Minister H D Kumaraswamy and Wall Street analysts, who are attending the company's first-ever financial meeting in India.

Company officials said as part of its expansion in India, IBM is increasing the capabilities and staff of the high performance on demand solutions lab here.