We originally came to India for the [low] cost. We stayed because of the quality, and now we're investing because of the innovation
-- Dan Scheinman, Sr. VP of Corporate Development, Cisco; quoted in Cisco Seeks Talent Abroad, Lisa DiCarlo, Forbes, 21 Oct 2005
From the story:
Cisco (nasdaq: CSCO - news - people ) has invested in and had operations in India for several years but is stepping up its investement partly because it can't ignore India's brainpower and partly because of market reforms that favor business and foreign investment.
"We originally came to India for the [low] cost. We stayed because of the quality, and now we're investing because of the innovation," says Dan Scheinman, senior vice president of corporate development. He notes that India's universities are churning out tens of thousands of engineers, many of whom used to come to the U.S. after graduating, but who are now choosing to stay at home.
Cisco, which has less than 5% of its global workforce in India, didn't want to miss out. Scheinman says the country is producing an "incredible number of engineers who are building some of the world's most advanced networks and applications," led by broadband and mobile applications. That throws a harsh light on the dwindling number of young Americans going into the sciences and helps explain why U.S. companies are looking elsewhere to stay competitive.