Cisco plans to invest $1.1 billion to expand its operations in India over the next three years.

The networking giant said it would pour money into research and development, hiring of additional staff, and also make more venture capital available for investments.

John Chambers, Cisco’s chief executive officer, announced the plans as part of a visit to India.

Media reports said Cisco would triple its employee base in India. It currently employees 1,400 people there.

“Through the wisdom of its government leaders and the entrepreneurship of its private sector, India has rapidly risen to become a major force in the global economy,” Chambers said. “Cisco believes that the Internet, and related technologies, will be a key enabler for India to achieve its goal of becoming a developed nation. As Indian companies strive to be globally competitive, they have realized the importance of investing in information technology and networking to adapt quickly to rapidly shifting market transitions.”

Cisco has maintained a presence in India since 1995 and has a global research and development center in Bangalore. Other offices are located in New Delhi, Mumbai, Chennai, Kolkatta, Pune, Hyderabad and Colombo, Sri Lanka.