New Delhi, May 16 -- Networking solutions company NETGEAR is evaluating manufacturing in India in line with the Made in India initiative, said chief executive officer (CEO) Charles Prober during his maiden visit to India on Thursday. Prober's visit to India coincides with the inauguration of its Bengaluru facility expansion.
"It's very exciting to be here. India is the fastest-growing economy in the world and one of the high-growth nations within NETGEAR as well. We are adding more space to our research center and shall continue to invest more in Engineering, Sales & Customer support in the coming years" Prober said. The company also looks at establishing manufacturing facilities in the country, however, the spokesperson did not divulge details.
The new facility expansion is focused on wireless capability building and testing. The company also plans to double its headcount in the coming time from the current 65 employees in the country, which forms 10% of the global workforce. As the company continues to expand in India, it will build on its engineering, sales, and customer support talent, the spokesperson said.
The Indian office of NETGEAR is primarily focused on the core development cycle, towards which the company has also partnered with Capgemini and VVDN. Netgear is currently present in 20 cities and will expand to over 30 by the year end, said Marthesh Nagendra, sales director for India, MENA and SAARC region, Netgear.
On May 1, the company announced its first quarter financial results, reporting a net revenue of $164.6 million, down 9% year-on-year. The operating loss also increased from $12 million the previous year to over $21 billion in Q1. Nagendra, during the press conference today also mentioned that India contributes 10% to the company's global business.
Published by HT Digital Content Services with permission from TechCircle.