Nokia Siemens plans to invest $100m in India

Nokia Siemens Networks plans to invest up to $100 million in India over the next three years in a move to strengthen its grip in one of the fastest-growing markets for telecommunications equipment, an Associated Press report said.

The Associated Press report said the company's planned investment includes setting up a manufacturing plant for wireless network equipment in the southern state of Tamil Nadu and establishing offices in cities across India.

The company will also boost the operations of its research center in Bangalore, the report said.

Nokia Siemens Networks CEO Simon Beresford-Wylie was quoted as saying that the Indian telecommunications market was 'entering a next wave of growth' with higher demand for mobile and broadband network services in rural areas outside major cities.

Construction of the Tamil Nadu plant will begin later this year and is scheduled to begin production in 2008, Nokia Siemens said.

Nokia Siemens Networks was formed in April to produce equipment that service providers need to be able to supply subscribers with faster and larger transfers of data and mobile content, the report further said.