Cisco to start manufacturing in India to tweak supply chain: CEO
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Cisco (NASDAQ:CSCO) CEO Chuck Robbins said on Wednesday that the networking giant is going to start manufacturing in India as it looks to tweak and diversify its supply chain.
The announcement of the new manufacturing operation comes after Robbins met with India's Prime Minister Narendra Modi and several other Indian legislators. 
"Fueled by a rapidly developing digital economy, India is a focal point of innovation and business for Cisco, and we remain deeply committed to our partnerships here," Robbins said in a statement.
San Jose, California-based Cisco (CSCO) said it hopes to drive more than $1B in combined exports and production in India over the next few years as part of the move.
Cisco's (CSCO) move comes as Apple (AAPL) has increasingly looked to India to diversify its manufacturing base as it deals with the aftermath of the COVID-19 pandemic and increased geopolitical tensions between the U.S. and China.
Cisco (CSCO), which is slated to report quarterly results later this month, rose 0.5% in early trading on Wednesday.
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