Zinnov study finds top Indian firms aggressive on IT investments

Zinnov has announced the release of its latest study titled, Opportunities with Large Enterprises in India, which highlights IT investment and trends among the largest Indian corporations. The released study has revealed flat Capex but steady IT investments in FY2013, with over 30% of the IT spend 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  demonstrated growth at a CAGR of 12% in INR terms despite economic challenges in FY13, even though revenues declined marginally by 1% in USD terms. Interestingly, 10% of the top 50 are headquartered outside the tier-I cities, in emerging locations such as Indore, Jamnagar and Dehradun.

Praveen Bhadada, Director, Market Expansion, Zinnov, said, Large Indian enterprises  with their aggressive growth plans and perception of technology as a growth driver  represent a key opportunity area. With an addressable IT spend of US$15 billion annually, it 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.
 
The Zinnov study has further revealed that, while more than 50% of the CIOs of these firms are focussing on mobility, private and public cloud investments in FY2014, big data is their top priority for over 60% of the firms, driven by manufacturing and media companies.