IBM says it will invest more in India this year

Betting big on India's fast growing IT security demand, global IT giant IBM is planning to increase its investments in India out of its $1.5 billion global security budget this year.

IBM has chosen India as one of the three global destinations to deploy its security researchers.

"We are gearing up to cater to the global market opportunity for security spend, which is around USD 100 billion. We are planning to increase investments in our two software laboratories in Pune and Bangalore in 2008," IBM's Worldwide Evangelist for Security Pierre Noel told media.

This investment, which would come as part of IBM's $1.5 billion security initiative, will fund the IT major's ongoing projects to develop new security products in India, Noel said.

In 2006, IBM had said that it would treble its investment to $6 billion by 2009 with a view to enhance its presence in the fast-growing domestic market. More Details>>