Despite decline in dollar revenues, Indian enterprises are aggressively investing in IT, reveals global research and advisory firm Zinnov. In their latest study titled, 'Opportunities with large enterprises in India', that highlights IT investment and trends among the large Indian corporations, the firm found out that technology investments are a critical part of India Inc.’s growth strategy for FY14.
The Zinnov study revealed that while almost 50% of the chief information officers (CIOs) of these firms are focusing on mobility, private and public cloud investments next year, big data is their top priority for over 60% of the firms, driven by manufacturing and media companies. The study also found out that 30% of IT spend by Indian enterprises, in FY 2013, was aimed at transformational projects, especially in the areas of mobility, cloud and big data. The top 50 Indian companies – selected on the basis of total annual income excluding IT companies
Commenting on the report, Praveen Bhadada – Director, Market Expansion, Zinnov, said, “Large Indian enterprises – with their aggressive growth plans and perception of technology as a growth driver presents a massive opportunity for global and Indian technology vendors. To win in this market, technology firms must develop a targeted understanding of each enterprise’s growth strategy and the role of IT in supporting this trajectory. Vendors must engage with CIOs strategically, building joint business cases for advanced technology adoption and demonstrating the ability to take joint risks by exploring revenue share models.”