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Gartner Predicts 7.7% Growth in Indian IT Spending

by: Sarah Joson

Wednesday, October 17, 2012 | Outsourcing News |

Indian IT Spending to reach $71.5 billion in 2013

New services such as cloud integration, mobile, social media processes and metrics under the information technology (IT) sector are anticipated to fuel IT spending in India, as global IT outlays are slowing down.

According to global research firm Gartner, India’s IT spending can post a 7.7% increase, reaching $71.5 billion next year, from the $66.4 billion forecast this year.

According to Gartner’s Senior Vice-president and global head of research Peter Sondergaard, India remains bullish and competitive, even with the continuous increase in wage rates. He added that even if the budgets of clients are smaller, IT providers in India are thriving as they are making the most out of alternative sectors and processes.  

It is also projected that by 2016, IT spending in India will be subdivided into telecommunications, IT services, and hardware. Telco is seen to become the highest, amounting to $47.8 billion, followed IT services and hardware.

Meanwhile, Partha Iyengar, Head of Research for Gartner India, said for the Indian market, mobile gadgets will still be the fastest growing segment, taking up 42%, and will likewise account for almost 26% of the country’s IT spending.

It was found out through a Gartner survey that CEOs are highly considering investing more on technology as it will become a crucial factor for businesses in the future.  CIOs are predicted to create workable strategies that will coincide with the changes in their respective industries and economy.


Source:
http://articles.economictimes.indiatimes.com/

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