Last year, when the world economy crashed, India also felt the shivers. However, amidst all the gloom, Indian economists still declared that GDP for the country would still grow by a healthy 6 percent. India was seen as the one bright spot in a world that was still showing growth, when most economies were delivering negative growth. Today, as the world economy gradually limps back to normalcy, India is leading the pack as one of the world’s fastest growing economies. A recent RBI report pegs India’s growth to be at 6.5 percent in 2010.
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Here is a look at how industry verticals will spend their money on IT:
Manufacturing
Facing intense competition from global manufacturers, Indian manufacturers are cutting costs while simultaneously seeking to improve their market share. For this sector, technologies in demand are BI and virtualization
BFSI
Virtualization, server consolidation and BI are also among the top priorities for IT heads across this sector. Web 2.0 and cloud-based services are expected to find greater acceptance among organizations
ITES
As the pressure on margins gets bigger, this sector is betting big on technologies that will help companies save operational costs by using the power of IT
Services
Companies are planning to invest in technologies that help in retaining customers, simplify the management of IT systems and reduce operational costs
Pharma
With a view to addressing market needs more efficiently, organizations in this sector will invest in technologies such as BI while simultaneously adopting a cautious approach to SaaS and other cloud-based services
Telecom
As voice-based revenues take a dip, telecom operators are actively investing in tools and technologies that will enable them to have a 360 degree view of the customer
FMCG
With a view to reducing operational costs, organizations in both sectors will focus on technologies such as virtualization and unified communications in 2010
Utilities
The utilities sector will invest in technologies that support smart grids and energy supplies