EMC Corp the world's top data storage equipment maker, said on Wednesday it planned to invest $1.5 billion in India over the next five years to mainly expand its research and development infrastructure.
The new spending marks a threefold jump in the amount EMC has invested in Asia's third-largest economy in the last five years, the company said in a statement.
The India unit of EMC is a key contributor to the company's global innovation drive and revenue growth for Asia Pacific including Japan, it said after unveiling its new facility in the tech hub of Bangalore.
EMC is among a growing number of multinational firms such as IBM and Accenture boosting investments and hiring thousands every year in India to tap an army of English-speaking and relatively low-wage technical workers. (Reporting by Sumeet Chatterjee; Editing by Ranjit Gangadharan)