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HP to invest 1 bln rupees in 2nd Indian plant
NEW
DELHI, Oct 06 – Computer and printer maker Hewlett-Packard Co. said on
Wednesday it is investing 1 billion rupees ($21.9 million) to set up a
second plant in India to meet demand for its products.The plant in the
northern state of Uttaranchal will have an initial output capacity of
300,000 computers a month. It will provide employment to nearly 1,000
people and supplement Hewlett-Packard’s existing facility in southern
India.The unit, which will make desktops, notebooks and servers, is
expected to be operational by March.Computer sales in India rose 32
percent in the year to March 2006, industry data showed, on firm demand
from sectors such as banking, information technology and
telecommunications. Falling prices and affordable financing have also
contributed to demand.Hewlett-Packard is one of a growing tribe of
foreign companies that have investing in India, either to soak up local
demand or to source talent and products in Asia’s fourth-largest
economy.
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