HPE to invest $500 mn, start manufacturing IoT products in India
California-headquartered Hewlett Packard Enterprise (HPE) is planning to invest $500 million (Rs 3,447 crore at the current exchange rate) in India over the next five years to grow its solutions portfolio, operations and employee base in the country.
The investment would help in R&D activities and service exports while helping the Indian ecosystem drive innovation, an official statement said today.
HPE is planning to begin manufacturing products in India by the end of 2019, the statement said.
HPE will manufacture Internet of Things (IoT) and mobility solutions through its subsidiary, Aruba Networks, a wireless networking organisation that HPE acquired in 2015 for approximately $3 billion.
Aruba had announced plans to start manufacturing solutions in India in late 2018.
The IoT solutions to be built in India would support the agenda of Digital India to HPE’s customers across the country, the statement said.
“India is one of the largest and fastest-growing economies in the world, and our investments will further develop the country as a critical market for HPE’s global business,” Antonio Neri, president and chief executive of HPE, said.
HPE also announced plans to increase employee count in India by 20% over the next 3-5 years during which it wants to focus on engineering talent in upcoming technology sectors like networking and artificial intelligence.
The company has also begun to extend its Bengaluru campus in Mahadevapura to house newer R&D facilities. The completed structure will be close to 1.3 million square foot and will handle functions like R&D, finance, sales and engineering services.
“We will continue to enhance our ability to help customers use technology to redefine experiences, improve operations and achieve their business goals,” Som Satsangi, MD, HPE India, said. The upgraded campus would help to attract top talent from the country, he added.