IBM Bullish On Indian Market
At IBM-India Event 2006, Bangalore, IBM being very optimistic about the Indian market has announced its plans to invest around $6 billion in the next three years.
Samuel Palmisano, Chairman & CEO, IBM told that the company intends to invest in sectors namely, service delivery centers, technology, manpower and R&D.
Tracing history, he said that though IBM began its operations in India in the early 90s, but 2003 was the defining moment when it made India a hub to support services for clients around the globe.
He explained further, “The Indian software development centers and consulting services worldwide has not only helped the company cut labor costs, but also generate new revenues. Today with the innovation of new applications and services, the Indian operation has become strategic both in terms of size and scale for the company.”
“The company’s revenue in India has gone up by 45% in 2004, 55% in 2005 and 61% in the Q1 of 2006. With a strong presence in India, the IT-czar has already invested $ 2 billion in the country in the last 3 years and hired more than 30,000 people,” he added.
President of India, A P J Abdul Kalam, chief guest at the event stressed the need to create a global knowledge platform in India, which would bring about a scientific cooperation between India and US and further emphasized on the major role that corporates such as IBM can play to bring technological innovation in the country.
Shanker Annaswamy, MD, IBM - India explained that they are working towards sustaining a strong presence in the Indian and global market, bringing tremendous growth through innovation. He said that a chunk of it has been through acquisition, especially when IBM bought Daksh eServices at about $160 million in 2004, it made a stride in generating more revenues for the Indian market.
“Earlier known as a computer maker, we have become a services company over the years. The technology hub of Bangalore has become the center of integrating cutting-edge services with its low-cost model,” said Annaswamy.
Speaking on IBM India Research Lab, he commented, “The center has created products like a container tracking system for global shipping companies and a warranty management system for automakers in the country. Currently focus is shifted to high-value services, such as supply chain management and financial services solutions.”
Very positive about IBM’s potential investment plans and roadmap in India, Annaswamy commented that this can be cited as the biggest investment by a multinational technology firm in India in the recent years and will positively yield great results in the days to come.
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