According to research firm Coeus Age, the IT spending in India is expected to grow at a compound annual growth rate of 9.7 per cent and reach Rs 1.5 trillion in 2014. A large number of companies will invest in technology to control costs, drive efficiency and ensure organic business growth.
The research firm?s forecast is based on the responses received from 130 chief information officers (CIOs) and IT heads of large and medium-sized Indian enterprises. The research firm states that slow growth in 2013 – the lowest in IT industry since 2002 – the year 2014 is expected to see the beginning of a new growth trajectory for the industry. However, at the same time, businesses are also cautious on account of pressures of moderate revenue growth across industries as well as high inflation.
About 76 per cent of the CIOs stated that their top priority is operational in nature and they are focused on cost control, efficiency drive, striving for a healthy cash flow and ensuring an organic business growth. Another 51 per cent respondents pointed out that they are focused on bringing efficiency and optimisation in IT management.
