The worst of the global recession is over and clients' information tecnology budget pressures are easing, technology storage equipment maker EMC Corp. (EMC) said Wednesday.

But "we are not predicting any rapid recovery," EMC Chief Financial Officer David Goulden told Dow Jones Newswires. "It'll be slow and steady, and the recovery will create some opportunities in 2010."

Goulden declined to comment on a report last week which cited people briefed on the plan as saying that EMC and Cisco Systems Inc. (CSCO) are in talks to form a new joint venture to provide technology services.

In a statement, Hopkinton, Mass.-based EMC said it plans to invest $1.5 billion more in its India operations from 2010 to 2014, a "three-times increase" from investments made by EMC in the past five years, when it put in $500 million.

"India offers tremendous opportunities in innovation and market potential," Goulden said in the statement. The investment plan shows the role India will play in EMC's long-term strategic growth in the Asia-Pacific, Japan and around the globe.

-By Dhanya Thoppil, Dow Jones Newswires; 91-9900181471; romit.guha@dowjones.com