Information technology spending in India is projected to see 6.7 % growth to $89.2 billion in 2019, said IT research firm Gartner in its forecast. The country’s domestic market is expected to spend nearly $83.6 billion in IT this year. Digital transformation of business processes across private and government run organizations continues to be one of the key drivers for this growth. The research firm said both sectors have become adaptive to business model change and bring new practices, including development of new capabilities.
Spending on devices PCs, tablets and mobile phones is set to total $33 billion in 2019, a growth of 7.4% year over year,” mobile phones are contributing to the growth in the segment, and their growth is led by the continued shift from feature phones to smartphones. “The increasing demand for quality mobile phones has led to the rising average selling price of mobile phones in India, positioning India as having the third-fastest device market growth. Among other segments, spending on IT services is forecast to experience the highest growth in 2019 with a 13.5% increase year over year. In this segment, both the business process outsourcing (BPO) and consulting segments are bolstering the growth of IT services spending in India.
The software as a service market is driving growth in almost all software segments in India, and the customer relationship management SaaS market in India is among the fastest growing in the world. Overall, enterprise software spending is forecast to amount to $6.3 billion and grow 12.9 % in 2019
Israeli ingenuity is at the forefront of global innovation, with Israeli companies pioneering advanced solutions in fields including cybersecurity, digital health, mobility and smart transportation, automotive, Fintech, and agricultural technology. Israel has technology and innovation, India and Israel can explore possibilities of standard formulation, research and development. Israeli companies excel in providing innovative technologies and enhance R&D services. Companies in India can benefit from the advanced Israel technology.
Relevant companies, interested to learn more on potential collaboration are invited to contact the Economic and Trade Department at the Israeli Consulate General in Bengaluru.
For further queries, contact : Kavitha Saravanan, Trade Officer, Bengaluru.