While Indian IT companies are looking to grow abroad, global it major IBM is looking at India. CNBC-TV18's Kritika Saxena finds out what's attracting IBM to the domestic market.
Just when Indian IT players were set to dismiss the domestic IT space from its list of growth drivers, global tech giant IBM is going to buck the trend. Speaking exclusively to CNBC-TV18, IBM says it has seen significant traction from the Indian market, especially in the government space.
It has recently won a contract from the Delhi government to create a unified technologically platform for 140 organisations within the state government and it expects more such deals to follow.
John Dunderdale, VP - Software Group, IBM says, "We have seen a marked change in all government activities in the last 18 months or so. We think the government in India is being far more active in trying to provide improved citizen services. The Delhi contarct that we are announcing is exactly that."
While government contracts are lucrative, IBM says the telecom sector can ring in growth as well.
Dunderdale explains, "Over the past few years we have seen telecommunications, financial services and industrial sector representing the biggest priorities for us. . Here in India, telecom is the most competitive than anywhere in the world."
Other than building a healthy deal pipeline, IBM is looking at growing through acquisitions as well. "As we evaluate options, we look at companies all over the world. We don't acquire companies that we can grow within a country, within India, we look at companies that we can grow globally," he adds.
While IBM has not decided its investment plan for India for CY13, it will invest heavily in growing within the geography, organically and inorganically.