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Joe Tucci, chairman, president and CEO, of the $9.66-billion information management and storage giant EMC- the world's largest data storage company - currently visiting India, has announced that the US-based had doubled his company's February 2005 estimate of a $250-million investment in India, to over $500 million. Earlier this month IBM announced a $6-billion investment in India, the largest sum ever committed by any IT business. The investment is the largest sum ever for India in the information management and storage space. The extra money will mainly be spent on research and development. EMC will also double its 1,600-strong workforce in India by 2008. The Massachusetts-based company began its Indian operations in Oct. 2000, and has a wholly-owned subsidiary with offices in New Delhi, Mumbai and Bangalore. It runs a software development and support centre in Bangalore. The total Indian storage market (including network storage and secondary storage - discs and tapes) reached $125.9 million in 2005, according to IDC India. The network storage market grew 53 percent to $105 million in 2005 from $68.2 million the previous year. This is because financial institutions, telcos, IT and software companies operating in India have been opting for network storage, because of disaster planning and recovery measures. EMC's major rivals include Hewlett-Packard Co., International Business Machines Corp. and Hitachi Ltd.
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