Modi has reputation of being decisive, focused: Cisco chief
May 21 2014 , San Francisco
The three-time Gujarat Chief Minister has steered the BJP to a landslide victory in general elections, with the party winning a majority in Parliament. It is the first time since 1984 that a single party has won a majority on its own.
"The new government came in without forming a coalition, and Narendra Modi as a PM has an excellent reputation as being decisive and focused on business," Chambers told reporters here.
"I think that is going to be very good for the country and I am very optimistic of what that means to the country's economic growth," he added.
On the past issues of policy paralysis and the way ahead, he said India has a chance to get economic growth going again and what is needed for the young people.
"I am very much a believer in India and the rule of law. India has 600,000 engineers, English-speaking... It has tremendous resource to focus in on," Chambers said.
He added: "I think that India as a country is very resilient... I am very committed to see our business in India not stay at one and a half per cent or so but a number much higher than that.
"But I think, having a government that has a majority by itself will allow for tough decisions to be made as well as good decisions to be made... So I am very optimistic about the new PM. I think that I will be surprised if India does not grow its GDP well over the next 3 or 4 years."
Cisco is "deeply committed" to India and the company expects to increase its business well over the 2 per cent, he said.
"We are committed to the long run," Chambers added.
Cisco has over 10,000 employees in India across cities like Bangalore, Delhi-NCR, Mumbai, Chennai, Kolkata, Pune and Hyderabad. Of these, 8,000 people are part of the R&D set up.
Although the company gets about 2 per cent of its over USD 48 billion global revenues from India, it is confident of growing the share. It expects to garner 5 per cent of its revenues from the Indian market in the next five years with business growing over 20 per cent.