IBM India revenue grows 45% in 2004
India is becoming a key market for IBM too, which added about 16,000 professional in 2005.india Updated: Jan 12, 2006 18:24 IST
India is becoming a key market for IBM too with the IT behemoth logging a 45 per cent growth in revenue in 2004 besides adding about 16,000 professional in 2005 to reach a strong employee strength of 38,500.
"We are growing here in India .. Our domestic business grew 45 per cent in 2004 year-on-year from services like business consulting, industry solutions, IT services, software products, systems, servers and storage," IBM India Managing Director Shankar Annaswamy said.
He, however, did not give any absolute figures on the growth but said demand growth areas for IBM are in sectors like telecom, banking and financial services, industrial solutions, Government and small and medium business.
IBM India has seen double-digit growth over the last five years, he said. The company had 23,000 employees in 2004 and in 2005, its employee base touched 38,500, Annaswamy said adding India is strategic for IBM and this shows it.
IBM launched a first-of-its-kind global services delivery center (GSDC) in Bangalore, investing $10 million in 2004-05 and significantly expanding its existing operations to meet the growing market demand for strategic outsourcing and technology management services.
IBM grew and expanded its business in the world's emerging markets - China, India, Brazil and Russia in 2004, to over four billion dollars. The Emerging market growth continues to be strong, up by 18 per cent in first quarter of 2005 and 23 per cent and 33 per cent respectively in Q2 and Q3 of of 2005, he said. MORE
"India has emerged as a key part of IBM's global delivery centre network with multiple centres in Bangalore, Gurgaon, Kolkata, Pune, Hyderabad," he said
IBM acquired Bangalore-based infrastructure services company Network Solutions (NetSol) some months ago.