American tech company IBM is going to make a big investment in India. The company plans to open new software development centers in the country. The company is exploring the possibilities of partnership with the government in this digital journey. IBM Chairman and CEO Arvind Krishna gave this information on Friday.
Krishna met Finance Minister Nirmala Sitharaman, Telecom Minister Ashwini Vaishnav and Minister of State for IT Rajiv Chandrashekhar during his visit to India. He told in the Select Media briefing that the company is excited about the speed of decision-making of the Government of India. IBM specifically designed the technology and system for ATMs, barcodes, and the US social security net.
Company Bullish on India
He said, “We are positive about our business in India. The company has a good hold in the financial services, telecom, government business as well as in the industrial sector. We are very happy with the progress of our business here.” Talking about the company’s performance, he said that during the July-September quarter, business in Asia was good, in which India had a major share. However, the company does not issue country-specific numbers. “I think India has a unique opportunity to achieve even more Goths than what it has done in the last two decades,” he said.
70% revenue from software, consultancy
At the global level, 70 percent of the company’s revenue will now come from software and consultancy, higher value businesses. Both these segments recorded strong growth during the September quarter. The revenue of the Indian market will show the way to the global business. After Krishna took over as CEO, IBM acquired 17 companies to boost its hybrid cloud and AI capabilities. During the last 6 months, the company has expanded and hired in Tier-2 cities of India. IBM has major centers in Bangalore, Hyderabad and Pune. Apart from this, there is a small Research and Development Center in Delhi.