IBM sees strong growth in India as IT spend grows

BANGALORE – IBM Corp plans to make better growth in India as part of its strategy to improve focus on promising markets and as local companies spend more on technology to cut costs and improve efficiency, an official said on Tuesday.

Sandip Patel, managing partner of IBM’s global business services in India and South Asia told that the company observes strong business potential as firms in insurance, retail, healthcare, energy and utility outsource technology services.

IBM signed a 10-year, seven hundred fifty million dollar deal in 2004 with top mobile services firm Bharti Airtel to manage its IT infrastructure. The deal’s value is now estimated to have gone up to about $1.5 billion due to healthy growth in Bharti’s subscriber and revenue.

In March previous year, Indian real estate developer DLF signed a $29 million, 10-year contract with IBM to renovate and supervise its IT infrastructure. In June, IBM won a forty five million dollar services agreement from India’s Central Board of Direct Taxes.