More and more global technology giants are now favouring the Indian land for setting up their companies than before. The country has emerged as one of the fastest growing markets for technology companies all around the globe. This trend can be seen both as a sign of India’s good GDP growth (compared to other countries) and the increasing interest of the Indian government and business to adopt to new technologies.
Tech biggies IBM, Accenture, Cisco and VMware have all listed India as either their best performing market or one of their best performing markets, during a recent quarterly earnings calls.
At a recent event held in the United States, Dell’s Michael Dell had said that India has proved to be a great market for the company. Last year, Dell had called India as its fastest growing among its ten biggest markets.
In the latest earnings call of IBM, in July, India was the only country that had received a positive mention. According to the company’s CFO Martin Schroeter, IBM saw a “strong growth in India once again”.
In Cisco’s case, the company’s revenue in India saw a 20 percent increase in the quarter that ended in July, even as the company’s China business took a 12 percent hit and total emerging markets business declined by 6 percent. India has now received 9 mentions from Cisco for its good performance in each of the company’s past nine quarterly earnings calls.
According to Accenture’s Chief Executive Officer Pierre Nanterme, the company’s latest earnings call in the month of June saw a strong double-digit growth in India, same as in Mexico and China. In VMware’s last quarter earnings call, India was the only country that was mentioned by the company’s CEO Pat Gelsinger for its good performance. India is one of the top three growth markets globally for the virtualisation software firm’s end user computing business, including mobility solutions and desktop virtualisation.
It’s for sure a good sign for the Indian market.