BANGALORE, INDIA: The silicon city will soon turn to be India's first intelligent city too! Cisco has signed a memorandum of understanding (MoU) with the Karnataka Government to implement the 'Intelligent Urbanization' vision for Bangalore.
 
The partnership with Cisco will enable the Karnataka Government to build an Integrated and Intelligent Management System for public safety and security, transportation, buildings and energy. Cisco will provide the necessary IT infrastructure and services of its partners to the Government agencies to run the management systems.
 
As per the MoU, a pilot program will be launched under which Cisco will work with the Karnataka State Road Transport Corp. (KSRTC) and the Karnataka Police to improve public safety and security around one of the major bus terminals in Bangalore.
 
Cisco to go ahead with acquisitions
John Chambers, Cisco's chairman, said that the company would go ahead with its further investment plans and acquisitions despite the global economic slowdown.
 
"We do not make decisions based results of a quarter or prediction for a year. Recently, we raised $4 billion through selling bonds in US, a substantial amount of this amount would go for our future projects. Besides, we have a $25 billion cash reserve outside the US," he added.
 
Upturn by 2010
John Chambers said he believed that global economy can get out of the economic slowdown by 2010. "After every downturn, there has to be a upturn, and I am hopeful that the US economy will be first bunch of countries to get out of the recession," he said.
 
China and India to lead
The Cisco CEO said the exponential growth witnessed both in China and India was an indication of the shift in economic powers. India and China would continue to witness high growth over the years, and the counties will be followed by countries such as Mexico, Brazil, Russia, he felt.